finance & economy

October 15, 2018

Mahmoud Al Hamarshah, National Sales Manager Galadari Trucks & Heavy Equipment, believes in innovation, and has definite plans to elevate GTHE to the next orbit of competition and success. He says, 'At GTHE, we are all salespeople, irrespective of the designation we hold. The reason is simple, I want to see GTHE capture the entire market, and we stand firm to fulfil the needs and necessities of our customers.' This approach is startling, and has set in a new wave of commitment and dedication.

Hamarshah says the market profile is positive, and the coming"...

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October 15, 2018

(WAM) -- The Federal Tax Authority, FTA, has issued a public clarification regarding tax treatment of compensation-type payments, noting that value added tax, VAT, is imposed on supplies of goods and services and if any payment does not relate to a supply of goods or services, then the payment is not subject to VAT.

The Authority noted that as part of business agreements, businesses usually make payments to compensate each other for any loss, negligence or other errors. VAT should not be applied to such amounts if they do not relate to a supply.

In a recent press statement,"...

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October 15, 2018

The American University of Ras Al Khaimah (AURAK) hosted their 7th Commencement Ceremony in the presence of Ras Al Khaimah’s Crown Prince, Sheikh Mohammed bin Saud bin Saqr Al Qasimi, and Her Excellency Sheikha Lubna Bint Khalid Al Qasimi.

The evening commenced with the arrival of Sheikh Mohammed bin Saud bin Saqr Al Qasimi and the recitation of the Holy Quran by Mr. Masood Hafiz Abdus Sakur.

The commencement speeches of AURAK President, Professor Hassan Hamdan Al Alkim, Her Excellency Sheikha Lubna Bint Khalid Al Qasimi,"...

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October 15, 2018

In a press conference held in Dubai, HE Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA) announced details of the 20th Water, Energy, Technology, and Environment Exhibition (WETEX 2018) and the 3rd Dubai Solar Show. DEWA organises the two exhibitions at the Dubai International Convention and Exhibition Centre from 23 to 25 October 2018. WETEX 2018, under the theme ‘At the forefront of sustainability,’ will be the biggest in the exhibition’s history, covering 78,413 square metres. It will host 2,100 exhibitors from 53 countries.

WETEX"...

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October 14, 2018

BALI: Obaid Humaid Al Tayer, Minister of State for Financial Affairs, met Steven Mnuchin, US Treasury Secretary on the sidelines of the Annual Meetings of the International Monetary Fund (IMF) and WBG in Bali, Indonesia.

The two parties discussed areas of bilateral relations and mechanisms for cooperation in different fields, including fiscal and monetary policies and the global economic outlook, as well as the requirements of OECD for the exchange of information for tax purposes.

During the meeting, HE Obaid Humaid Al Tayer highlighted the fruitful and constructive framework of cooperation, and the strong relations between the two countries. HE also stressed the need to continue efforts to exchange"...

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October 14, 2018

Nawah Energy Company (Nawah), the operator of the Barakah Nuclear Energy Plant in the Al Dhafra Region of Abu Dhabi, has become the first company in the world to develop English language standards for nuclear plant operations.

A subsidiary of the Emirates Nuclear Energy Corporation (Enec) and partially owned by the Korea Electric Power Corporation (Kepco, Nawah said these standards play a significant role in ensuring a high level of effective safety communication as part of a healthy nuclear safety culture.

"...

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October 14, 2018

Investments in Dubai CommerCity, a joint venture between Dubai Airport Freezone Authority (DAFZA) and the Wasl Asset Management Group have increased by 18.5 percent to AED3.2 billion ($870 million), it has been announced.

The e-commerce project, launched in 2017 on a 2.1 million square feet plot located in Umm Ramool, has also seen an increase in the total leasable area by 32.5 percent, a statement said.

The growth comes as it is forecasted that the e-commerce market in the region will be worth $48.6 billion in 2022, up from an estimated $26.9 billion in 2018.

The"...

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October 14, 2018

(WAM) -- The Dubai Business Women Council, DBWC, announced that its total membership had increased by 36.5 percent during the first three quarters of the year.

The council added 216 new members during this period, 50 of whom joined during the third quarter of 2018. The new members bring the total number to 807, from 591 at the start of the year.

The increase in the membership reflects the important role of the council in supporting businesswomen and enhancing their competitiveness in the country’s labour market.

The"...

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October 14, 2018

JPMorgan Chase Bank, N.A. (the “Offeror”) today announces an offer to purchase (the “Offer”) to holders (the “Bondholders”) of its USD 350,000,000 zero coupon cash settled exchangeable bonds due 2021 (XS1748457352), of which USD 350,000,000 in aggregate principal amount is currently outstanding (the “Bonds”) on the terms described in this Press Release.

The Offeror is offering to purchase any and all of the Bonds for cash at the purchase price of USD 185,000 per USD 200,000 in principal amount of the Bonds validly tendered by Bondholders pursuant to the Offer.

J.P."...

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October 13, 2018

Last month, over 200 business founders/owners from across Africa and India gathered in Nairobi, Kenya, for the inaugural Seed Transformation Network Global Summit. Each business leader in attendance completed the Seed Transformation Program, a one-year certificate program delivered by Stanford University through Stanford Graduate School of Business.

The inaugural event provided an opportunity for some of the most promising business leaders in Africa and India to continue their learning and to network with the goal of scaling their businesses, creating jobs, and, ultimately, expanding the impact their businesses have on their communities and"...

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