H.E. Mariam bint Mohammed Almheiri, Minister of Climate Change and the Environment, headed the UAE delegation to the G77+China Summit, held in Cuba, where she met Cuban President Miguel Díaz-Canel as well as ministers and senior officials from around the world.
Category: Business
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The Branch Networks of UAE Banks: A Closer Look
Banks in the UAE are experiencing a reduction in branch numbers, prompting the need for a reimagining of their purpose. In an increasingly digital world, the question arises: who needs physical branches and what functions should they serve? Should they focus solely on banking transactions or expand their role to provide advice and other services?
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UAE: Gold Prices Rise, Boosted by Weakening US Dollar
Gold prices in the UAE experienced an upward trend at the beginning of the week, nearing a one-month high during early trading. According to data from the Dubai Jewellery Group, the price of 24K gold increased by half a dirham, reaching Dh235.5 per gram at the market's opening, compared to last week's close of Dh235 per gram. At 9 am UAE time, the prices for 22K, 21K, and 18K gold stood at Dh218.25, Dh211.25, and Dh181.0 per gram, respectively.
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UAE and Brazil Establish Partnership for Economic Knowledge Exchange
Sunday, September 03, 2023 - The governments of the UAE and Brazil have announced a groundbreaking partnership focused on exchanging knowledge and expertise in the field of economics. This initiative, part of the Government Experience Exchange Programme, aims to strengthen cooperation and foster collaboration in areas such as modernization, development, and government practices.
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Saudi Arabia’s PIF to Acquire Hadeed in $3.3 Billion Deal with Sabic, Creating National Steel Leader
Saudi Arabia's Public Investment Fund (PIF) has entered into a definitive agreement to acquire full ownership of the Saudi Iron & Steel Company (Hadeed) from Saudi Basic Industries Corporation (Sabic) in a transaction valued at 12.5 billion Saudi riyals ($3.3 billion). This move is part of the kingdom's efforts to accelerate its industrial development.
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Emirates Flight Catering Partners with GMG to Provide Ready-to-Go Meals
Proactively envisioned multimedia based expertise and cross-media growth strategies. Seamlessly visualize quality intellectual capital. Quickly coordinate e-business application
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ADNEC Group Launches Charter Flights to Europe and Central Asia, Boosting Tourism in Abu Dhabi
ADNEC Group, in partnership with its tourism division Tourism 365, has introduced new charter flight services in the UAE, expanding travel options for international tourists from various regions and further enhancing Abu Dhabi's reputation as a premier global destination.
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Cross-Border Investments and Digitalization Transform Estate Planning for Expatriates
The landscape of estate planning is undergoing a redefinition due to cross-border investments and the advent of digitalization. Expatriates face unique considerations in their estate planning, including inheritance tax and cross-border complexities. For expats residing in Dubai with assets in multiple countries, additional factors such as retirement plans, tax comparisons, beneficiary preferences, and socio-political and economic aspects must be taken into account. Distribution becomes more straightforward for portfolios consisting primarily of bank accounts and intangible assets, as opposed to those with real estate holdings.
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Dubai’s Mohammed bin Rashid Al Maktoum Solar Park’s 4th Phase to Generate Clean Energy for 320,000 Homes and Reduce 1.6 Million Tonnes of Carbon Emissions Annually
Saeed Mohammed Al Tayer, the Managing Director and CEO of Dubai Electricity and Water Authority (DEWA), recently inspected the progress of the 4th phase of the Mohammed bin Rashid Al Maktoum Solar Park, a project set to provide clean energy to approximately 320,000 residences while reducing carbon emissions by 1.6 million tonnes annually. With investments totaling AED 15.78 billion, this phase employs the Independent Power Producer (IPP) model.
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UAE Small Businesses Can Benefit from Tax Relief and Simplified Returns
In a recent move, the UAE government has introduced the Small Business Relief (SBR) to support small businesses in managing corporate tax requirements. This privilege is exclusively available to resident taxable individuals, both natural and juridical, with a gross business income of up to Dh3 million in the relevant tax period and any previous tax periods ending on or before December 31, 2026.