Abu Dhabi / WAM The Registration Authority of Abu Dhabi Global Market (ADGM) issued a public consultation paper inviting public feedback and comments to codify existing corporate beneficial ownership and control practices in line with global standards and initiatives. Recommendations have been developed following a benchmarking analysis of the regimes applicable in the UK, Guernsey and Jersey. These jurisdictions have ...

RAS AL-KHAIMAH / WAM The UAE’s electronic tax system is the most comprehensive in the region, said the Federal Tax Authority (FTA) at an introductory workshop it organised at the Department of Economic Development of Ras al-Khaimah. The system facilitates the processing of taxes transparently and efficiently, boosting confidence in the tax regulations and ensuring widespread tax compliance, the FTA ...

VIENTIANE / WAM Khaled Ibrahim Abdul Aziz Shuhail, UAE Non-Resident Ambassador to Laos, has met with Khemmani Pholsena, the Laotian Minister of Industry and Commerce, within the framework of joint cooperation and continuous coordination aimed at developing bilateral relations between the two countries. During the meeting, they discussed the development of bilateral relations and ways of boosting trade and investment ...

DUBAI / WAM Nakheel announced a net profit of AED5.67 billion for 2017, up 14 percent on 2016. Nakheel generated a net profit of AED1.67 billion in Q4 2017, an increase of 58 percent on the same period in 2016. The 2017 results highlight the stability and maturity of Dubai’s real estate sector and reflect the robust business and economic ...

DUBAI / WAM UAE Innovation Month, the largest national initiative to celebrate innovative and creative thinkers, kicks off on Thursday, February 1. Under the directives of the Vice President and Prime Minister of the UAE and Ruler of Dubai, HH Sheikh Mohammed bin Rashid Al Maktoum, the month-long event covers all Emirates and regions of the country, focussing on a ...

ABU DHABI / WAM Dr Sultan bin Ahmad Sultan Al Jaber, Minister of State and Adnoc Group CEO, held a series of meetings with government and corporate leaders in Beijing, focussed on strengthening the strategic relationship between the UAE and China and deepening partnerships between Adnoc and China’s energy, chemical, technology sectors. Dr Al Jaber met with Wang Yi, Minister ...

DUBAI / Emirates Business Dubai Chamber of Commerce and Industry and Google will officially launch the ‘Get Dubai Businesses Online’ programme on February 5, which will set new targets to increase the online exposure of Dubai’s business community. Hamad Buamim, President and CEO of Dubai Chamber, said, “We are very pleased with the results of the successful pilot programme and ...

ABU DHABI / WAM National Central Cooling Company (Tabreed) released its audited 2017 financial results. The company ended the year with a robust performance, adding 43,900 RT to its cooling capacity across the GCC in 2017. Tabreed posted 9% percent higher net profit, reaching AED400.1 million. Based on the strong results, Tabreed’s Board of Directors recommended increasing cash dividends for ...

Dubai / Emirates Business Malabar Gold & Diamonds, one of the BIG 5 jewellery retailers globally launched a special collection of diamond and 18K gold jewellery named ‘Heart to Heart’ to celebrate the season of love. ‘Heart to Heart’ jewellery collection showcases the exclusive heart shaped jewellery which symbolizes the best way to express your love. As the demand for ...

DUBAI / Emirates Business Off-plan real estate transactions in Dubai increased 60% in 2017, compared to 2016, according to the latest Observer: Dubai Q4 2017 report from leading international property company Chestertons MENA. The figures follow a steep increase in the volume and value of off-plan transactions in the second half of the year, with Dubailand, Business Bay and Al ...