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    ADIB named 'World’s Best Islamic Bank' by FT’s Banker Magazine

    Abu Dhabi Islamic Bank, ADIB, has won the title of 'World’s Best Islamic Bank' in The Banker Magazine’s Awards for Islamic Banks in 2018 the highest accolade that the Financial Times-owned publication awards to Islamic banks.

    ADIB also won two regional awards for 'Islamic Bank of the Year – UAE' and 'Islamic Bank of the Year – Middle East' for the fourth consecutive year.

    ADIB"...

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    Tesla-loving nation now wants to be a pioneer in electric planesJune 18, 2018

    Home to some of the busiest flight routes in Europe, whisking passengers across a rugged and mountainous landscape, Norway’s aviation industry now readies to go electric.

    Norway is one of Tesla’s biggest markets, with about 8,500 cars sold last year. Now, the country whose tourism sales pitch is “Powered by Nature” wants to be a pioneer in the market for electric planes. Wideroe, a local airline that operates small planes on short haul flights, sees no major technological barriers ahead and plans to launch its first commercial aircraft propelled by some form of electric power within the next 10 years.

    “Today,"...

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    UAE, Zimbabwe sign agreementsJune 18, 2018

    The UAE and Zimbabwe signed, in Harare, the capital of Zimbabwe, two agreements related to protecting and encouraging investment and avoiding double income taxation, as well as a Memorandum of Understanding, MoU, on the marketing and supply of energy.

    Reem Bint Ibrahim Al Hashemy, Minister of State for International Cooperation, signed both agreements for the UAE while Dr. Sultan Bin Ahmad Sultan Al Jaber, Minister of State, signed the MoU, with the attendance of Emmerson Mnangagwa, President of Zimbabwe.

    Al Hashemy and Dr. Al Jaber also met with Mnangagwa on the sidelines of the signing, where they delivered the greetings of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, and the Vice"...

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    UAE launches new e-services for taxable persons

    UAE’s Federal Tax Authority (FTA) has developed its e-services to include new features allowing taxable persons to link their accounts with an accredited tax agency, authorising it to carry out registration procedures, submit tax returns, and complete tax transactions on behalf of the taxable person, who is kept posted with real-time updates.

    The FTA explained that this update was introduced to answer requests submitted by taxable persons and businesses registered with the Authority.

    The new features allow taxable persons to nominate one or more persons as their tax agents, who would then represent them in all their transactions with the Authority, and help them comply with their tax obligations"...

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    Louis Vuitton’s Jacques Cavallier Belletrud: a poet of perfume

    Jacques Cavallier Belletrud’s quest for raw ingredients has taken him to some of the farthest-flung corners of the globe. To craft his fragrances, Louis Vuitton’s master perfumer has sourced Peruvian balsam from the forests of Salvador; fresh ginger from Nigeria; cocoa from the Ivory Coast; and oud assam from a family-run farm in Bangladesh. But it was a trip to Guatemala in search of cardamom that he counts as one of his most memorable.

    “We were in a town called Coban, which is one of the most dangerous places in the world, but also one of the most beautiful places I have ever seen,” he says. “It is in a valley in"...

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    UAE entity invests $490m in humanitarian aid in 2017

    The Mohammed Bin Rashid Al Maktoum Global Initiatives (MBRGI) has announced that it invested a total of AED1.8 billion ($490 million) in humanitarian aid in 68 countries in 2017.

    The investment level comes in the annual report of MBRGI launched by Sheikh Mohammed bin Rashid Al Maktoum, the Vice President, Prime Minister and Ruler of Dubai.

    According to the results, the Foundation increased its expenditure to AED1.8 billion from AED1.5 billion spent in 2016.

    Of this figure, AED961 million was spent"...

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    Solar power to play major role in new Dubai mega project

    Extensive on-site generation of solar power will be a key pillar of Tilal Al Ghaf’s sustainability strategy, the backers of the Dubai mega project has announced.

    Majid Al Futtaim said it is setting ambitious sustainability targets for its new flagship community and aims to produce 20 percent of the its energy needs from renewable solar power, transferring surplus electricity to DEWA through the Shams Dubai initiative which went live in 2017.

    To achieve this, the first offering of upper-luxury villas and bungalows, launched in April, will offer rooftop photovoltaic"...

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