Anthropic, the artificial intelligence startup backed by Amazon, has introduced new subscription plans for its AI chatbot, Claude. The “Max” plan offers two tiers: a $100 per month option providing five times the usage limits of the existing Pro plan, and a $200 per month option delivering 20 times the usage. This initiative aims to cater to users with extensive AI interaction needs, particularly professionals who have […]
Orange Jordan has introduced a satellite internet service aimed at delivering high-speed connectivity across the country, including remote and underserved regions. This initiative is part of a broader strategy to bridge the digital divide and ensure comprehensive internet access. The newly launched service offers three subscription plans tailored to diverse user needs. The Essential plan provides download speeds of up to 20 Mbps, the Advanced plan offers […]
The Central Bank of the United Arab Emirates has officially granted Tap Payments a Retail Payment Services license, marking a significant advancement for the fintech company in the Middle East and North Africa region. This authorization enables Tap Payments to offer comprehensive payment solutions, including merchant acquiring, payment aggregation services, and domestic fund transfers within the UAE.
Established in 2014, Tap Payments has rapidly expanded its footprint across the MENA region, serving over 100,000 businesses in countries such as Saudi Arabia, Kuwait, Bahrain, Qatar, Oman, Egypt, Jordan, Lebanon, and the UAE. The company’s mission centers on simplifying online payments and fostering financial inclusion through innovative technology.
The acquisition of the UAE license aligns with Tap Payments’ strategic vision to unify and streamline payment processes across the region. This development is particularly timely, as the UAE’s e-commerce market is projected to reach $17 billion by 2025, reflecting a compound annual growth rate of 11%. The surge in digital transactions underscores the growing demand for secure and efficient payment solutions.
In addition to the UAE, Tap Payments has secured regulatory approvals in several other Gulf Cooperation Council countries. In March 2024, the company obtained the Electronic Payment Service Provider License from the Central Bank of Kuwait, adhering to the latest business regulations issued in May 2023. This achievement underscores Tap Payments’ commitment to compliance and innovation in the financial technology sector.
In May 2024, Tap Payments received the Payment Service Provider license from the Qatar Central Bank. This milestone aligns with Qatar’s National Vision 2030, emphasizing the country’s dedication to fostering a robust digital economy. The license enables Tap Payments to offer its full suite of payment solutions to businesses and consumers in Qatar, further solidifying its presence in the region.
HONG KONG SAR – Media OutReach Newswire – 9 April 2025 – X Pay, the local leader in “Buy Now, Pay Later” solutions, is pleased to announce a landmark strategic partnership with STOREBERRY, Hong Kong’s fast-growing omnichannel commerce platform. “Our partnership with STOREBERRY marks a significant advancement in payment innovation for Hong Kong’s retail sector. The ‘Online Price Divider’ not only makes high-value purchases more accessible but […]
SILQ Group, a newly established commerce platform, has secured $110 million in a funding round led by Sanabil Investments, the venture capital arm of Saudi Arabia’s Public Investment Fund , and Valar Ventures, co-founded by tech entrepreneur Peter Thiel. This investment underscores the growing interest of major financial entities in innovative commerce solutions within the Middle East. Sanabil Investments, a wholly owned subsidiary of the $925 billion […]
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai, Deputy Prime Minister, and Minister of Defence, has embarked on his inaugural official visit to India. During this visit, he engaged in discussions with Prime Minister Narendra Modi, focusing on enhancing the multifaceted ties between the United Arab Emirates and India. The meeting, held in New Delhi, underscored the enduring relationship between the two […]
The United Arab Emirates will enforce a 15% Domestic Minimum Top-up Tax on large multinational enterprises operating within its jurisdiction, effective for financial years commencing on or after January 1, 2025. This measure aligns with the Organisation for Economic Co-operation and Development’s Two-Pillar Solution, aiming to ensure that MNEs pay a minimum effective tax rate globally. The DMTT applies to MNEs with consolidated global revenues of €750 million or more in at least two of the four financial years preceding the tax period.
The UAE Ministry of Finance announced this initiative as part of its commitment to international tax standards and to bolster non-oil revenue streams. The DMTT is designed to prevent tax base erosion by ensuring that large MNEs contribute a fair share of taxes in the countries where they operate. This move follows the UAE’s introduction of a 9% corporate tax on business profits exceeding AED 375,000, implemented in June 2023. The new 15% tax specifically targets large MNEs, reflecting the UAE’s dedication to global tax transparency and fairness.
SINGAPORE – Media OutReach Newswire – 9 April 2025 – The highly anticipated Food & Hotel Asia – Food & Beverage (FHA-F&B) event officially opens today, reaffirming its position as Asia’s premier international food and beverage platform. With an expected 65,000 attendees from both local and international markets, FHA-F&B is set to once again unite industry professionals, culinary innovators, and industry leaders under one roof. The opening […]
MANILA, PHILIPPINES – Media OutReach Newswire – 9 April 2025 – Philippine small and medium-sized businesses (SMEs), particularly those in the retail and food & beverage (F&B) sectors, can now enjoy greater peace of mind when it comes to tax compliance. AutoCount, a leading provider of accounting and business software solutions, has achieved official accreditation from the Bureau of Internal Revenue (BIR) for its Point-of-Sale (POS) software, […]
On average, Malaysian online sellers have adopted AI in only 26% of their business operations, significantly lower than the SEA average of 37%. Indonesia and Vietnam lead average AI adoption in eCommerce in Southeast Asia, followed by Singapore and Thailand. Lazada’s new playbook provides sellers with best practices, actionable insights and resources to help integrate AI into their operations. KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – […]
SINGAPORE – Media OutReach Newswire – 8 April 2025 – McCain Foods, a world leader in prepared potatoes, today unveiled the McCain SureCrisp Max™ at FHA-Food & Beverage 2025 in Singapore. This product addresses the evolving needs of the foodservice industry, delivering unmatched crispiness, extended hold time and consistent quality – reinforcing McCain’s leadership position as a trusted partner for modern dining solutions. The original McCain SureCrisp […]
By Anjan Roy In the wake of Trump’s tariffs and restrictive trade practices, a global economic warfare has been sparked off, with all major economies working up stringent measures to teach the newly elected US prescient, Donald Trump, a lesson: Tariffs are a two way instrument. If you impose tariffs on others, others can impose […]IBM has expanded its as-a-service offerings by launching IBM Storage Ceph as a Service, aiming to simplify on-premises storage management for enterprises. This fully managed, software-defined storage solution is designed to handle data-intensive workloads across hybrid cloud environments. IBM Storage Ceph as a Service provides a unified platform supporting block, file, and object storage. It offers scalability and flexibility, allowing organizations to adapt to evolving data requirements […]
SINGAPORE – Media OutReach Newswire – 8 April 2025 – Juspay, a global leader in payment infrastructure for enterprises and banks, has secured $60 million as part of its Series D funding round in a combination of primary and secondary investments. This investment round was led by Kedaara Capital with participation from existing investors Softbank and Accel. Juspay has expanded its global footprint across Asia-Pacific, Latin America, […]
Matein Khalid In a financial panic, investors sell what they can and not what they must. So the most ominous data points for me is the dramatic widening in US corporate credit/high yield spreads, which means Mr. Market is now certain that default risk will strangle capital markets as varied as auto finance, subprime mortgages, student loan and credit card receivables. The widening of Asian sovereign credit […]
Investors should brace for volatility to remain a defining feature of financial markets until at least September, as a new era of trade disruption, inflation pressures, and global realignments gathers pace. Markets are still reeling from the deepening fallout of President Donald Trump’s sweeping tariff offensive. After his aggressive trade moves last week — dubbed Liberation Day by the White House — equities have suffered one of […]
Grade A office rents remained under pressure in Q1, while a tourist inflow recovery is yet to boost retail market confidence Smaller-sized residential units have been more sought-after following the relaxation of the maximum property value chargeable at a HK$100 stamp duty level as announced in the latest government budget speech, supporting first-hand residential sales. The total residential unit transaction number for Q1 climbed 24% y-o-y to […]
World’s Pioneering Drone Solution Achieving Millimetre-level Precision Setting a New Benchmark for Smart Sites in Hong Kong HONG KONG SAR – Media OutReach Newswire – 7 April 2025 – The Hong Kong Productivity Council (HKPC), the Civil Engineering and Development Department, and the Hyder-Meinhardt Joint Venture have co-developed the “Autonomous Air-ground Cooperative Tunnel Inspector” in the Trunk Road T2 and Cha Kwo Ling Tunnel project. This system […]
Goldman Sachs has increased the probability of a United States recession in the next 12 months to 45%, aligning with a wave of revised risk assessments by major investment banks as escalating trade tensions and tighter financial conditions unsettle global markets. The adjustment from Goldman’s previous estimate of 35% reflects the firm’s assessment that a sharp tightening in financial conditions and heightened policy uncertainty will significantly hinder […]
The United Arab Emirates Ministry of Finance has introduced Cabinet Decision No. 35 of 2025, outlining specific criteria under which non-resident juridical persons—entities not incorporated in the UAE—are considered to have a taxable presence, or ‘nexus’, in the country. This decision supersedes the earlier Cabinet Decision No. 56 of 2023 and provides clarity on the tax obligations of foreign investors, particularly those involved with Qualifying Investment Funds and Real Estate Investment Trusts .
Under the new guidelines, non-resident juridical persons are deemed to have a nexus in the UAE if they earn income from immovable property located within the country. Immovable property encompasses land, buildings, and fixtures permanently attached to the land or structures. This definition aligns with international tax norms, ensuring that income derived from such properties is taxable in the jurisdiction where the property is situated.
The decision specifies that foreign entities investing in UAE real estate, whether directly or through vehicles like QIFs or REITs, will be subject to corporate tax on income generated from these investments. This taxation applies regardless of whether the property is held for business operations or as an investment asset. The income will be taxed on a net basis, permitting the deduction of relevant expenditures that comply with the conditions set out in the Corporate Tax Law.
Younis Haji Al Khoori, Undersecretary of the Ministry of Finance, emphasized that this approach is consistent with international best practices, which stipulate that income derived from immovable property is taxable in the country where the property is located. He noted that the UAE’s Corporate Tax Law incorporates features that honor international taxation principles and ensures neutrality between domestic and foreign companies earning income from immovable property in the UAE.
The introduction of these guidelines is part of the UAE’s broader efforts to establish a fair and transparent tax system that aligns with global standards. In December 2024, the UAE announced plans to implement a 15% minimum top-up tax on large multinational companies starting January 2025, in accordance with the Organisation for Economic Co-operation and Development’s global minimum corporate tax agreement. This tax targets companies with consolidated global revenues of €750 million or more in at least two of the four financial years preceding its implementation.
The Ministry of Finance is considering the introduction of corporate tax incentives to promote research and development activities and high-value employment within the country. The proposed R&D tax incentive, expected to take effect for tax periods starting on or after January 1, 2026, would offer a refundable tax credit ranging from 30% to 50%, depending on the size of the company’s operations and revenue. Similarly, a refundable tax credit for high-value employment activities is under consideration, potentially applicable from January 1, 2025.
The UAE’s commitment to aligning its tax policies with international standards reflects its dedication to fostering a competitive and transparent business environment. By clarifying the tax obligations of non-resident investors and introducing measures to prevent tax avoidance, the UAE aims to enhance its economic competitiveness and attract sustainable investments.
HONG KONG SAR – Media OutReach Newswire – 7 April 2025 – The Department of International Trade Promotion (DITP), Ministry of Commerce, successfully hosted Thai Night: Where Films Come Alive 2025 at JW Marriott Hong Kong during FILMART 2025, reinforcing Thailand’s position as a global hub for the film and entertainment industry. Presided over by Her Royal Highness Princess Ubolratana Rajakanya Sirivadhana Barnavadi, the event brought together […]
The global shipping industry is experiencing significant upheaval following the implementation of extensive tariffs by U.S. President Donald Trump. These measures, including a 25% tariff on imports from Canada and Mexico and a 10% levy on Chinese goods, have disrupted international trade flows and introduced widespread economic uncertainty.
In anticipation of these tariffs, container vessel traffic to American ports surged by 12% last month, reaching a record 281 port calls in the week ending March 13, as reported by Ami Daniel of AI data provider Windward. This rush to ship goods ahead of the tariffs has complicated annual freight contract negotiations, set to begin on May 1, according to Norwegian analytics firm Xeneta. Asian shipping companies have responded by raising prices for routes to the U.S. to offset the expected tariffs on Chinese-built ships, as noted by Singapore-based Linerlytica.
The automotive sector has been notably affected. Jaguar Land Rover announced a temporary halt to exports of its British-made vehicles to the U.S. in response to the 25% import tariff. The company, which exports nearly a quarter of its 400,000 annual vehicle sales to the U.S., is assessing the financial impact and exploring options such as price increases for American consumers and boosting sales in other markets. Other UK-based automakers, including BMW, Rolls-Royce, and Ineos Automotive, are also evaluating their responses, with Ineos already raising U.S. prices.
The financial markets have reacted sharply to the tariff announcements. The Dow Jones Industrial Average and S&P 500 experienced significant declines over the past week, falling 7.9% and 9.1%, respectively, with the Dow dropping over 2,200 points on Friday alone. China responded with retaliatory 34% tariffs, escalating fears of a deepening trade war. Experts, including Moody’s chief economist Mark Zandi, warned that the tariffs could hinder productivity, damage the U.S.’ investment image, and prompt global allies to distance themselves from U.S. trade.
In the United Kingdom, Prime Minister Keir Starmer is considering a significant reset of the country’s economic policies in response to the U.S. tariffs. The FTSE 100 has plummeted over 7% in its worst week since the COVID-19 panic in March 2020. Amid fears of a prolonged recession, Starmer and Chancellor Rachel Reeves are reportedly contemplating raising taxes or altering fiscal rules to increase borrowing and stimulate growth, despite previous pledges to the contrary. British businesses, such as JLR, are already feeling the pressure, with the automotive sector particularly vulnerable due to its reliance on exports to the U.S.
The tariffs have also intensified discussions around supply chain deglobalization. Companies are reassessing their sourcing strategies, with potential shifts toward domestic production and alternative countries like Vietnam and India. This trend is driven by the need to mitigate the impact of tariffs and reduce reliance on any single country for manufacturing. However, such shifts are complex and require significant investment and time to implement.
The shipping industry is facing additional challenges due to the removal of the de minimis exemption for shipments under $800 from Canada, Mexico, and China. This change means that goods arriving by air will be subject to the new and existing tariffs, incur significant filing requirements and costs, and take longer to clear customs. This development could sharply reduce air cargo volumes from China to the U.S., leading to downward pressure on transpacific air cargo rates and potentially affecting the broader air cargo market.
Industry leaders are expressing concern over the escalating trade tensions. Billionaire Elon Musk expressed hopes for a future zero-tariff trade zone between North America and Europe. Meanwhile, leaders from the UK and France emphasized the importance of global cooperation and warned against the detrimental effects of trade wars. Italy’s economy minister cautioned against retaliatory actions and urged a rational response to safeguard Europe’s economic interests.
HONG KONG SAR – Media OutReach Newswire – 6 April 2025 – Associate Director-General of Investment Promotion at Invest Hong Kong (InvestHK) Mr Charles Ng will commence his duty visit to the Middle East from today (April 6) to April 10, with key engagements in Saudi Arabia and the United Arab Emirates (UAE). The visit underscores Hong Kong’s commitment to deepening economic ties with these dynamic markets […]
California has achieved a significant milestone in its transition towards sustainable transportation, with the number of electric vehicle chargers now exceeding gasoline nozzles by 48%. According to data from the California Energy Commission , the state boasts 178,549 public and shared private EV chargers, compared to approximately 120,000 gas nozzles. This development underscores California’s commitment to expanding its EV infrastructure. Of the total EV chargers, over 162,000 […]
