ABU DHABI / WAM Current account balances and deposits of the UAE Central Bank with banks abroad rose 54.7 percent or AED80.8 billion in the first ten months of the year to AED228.7 billion from AED147.8 billion in the same corresponding period last year, according to figures released by the Central Bank. The sustained, robust growth of foreign deposits since ...

DUBAI / WAM The Ministry of Economy (MoE) and the Mohammed bin Rashid Establishment for Small and Medium Enterprises Development (Dubai SME) signed a cooperation agreement to boost the competitiveness of the country’s entrepreneurship sector, as well as train national entrepreneurs and raise their capacities. The signing of the agreement was attended by Sultan bin Saeed Al Mansouri, Minister of ...

DUBAI / WAM Dubai Investments has announced a 36 percent increase in sub-leasing contracts in its wholly-owned subsidiary Dubai Investments Park (DIP) in the first nine months of 2017 compared to last year. “Out of these, nearly 68 percent contracts pertained to existing subtenants, reflecting DIP’s growing demand as a premier business destination in the region. The new subtenants during ...

ABU DHABI / WAM The Federal Tax Authority (FTA) has announced the sectors that will be subject to Value Added Tax (VAT) as of January 1, 2018, revealing selected sectors will be assigned zero-rated tax, such as education, healthcare, oil and gas, transportation and real estate. According to a statement released by the FTA, selected supplies in sectors such as ...

Dubai / Emirates Business With Dubai targeting to become the Middle East’s smartest city by 2021, a growing number of local and international FinTech companies are looking to make the emirate their regional base, according to Links Group, an Equiom company and a leading provider of commercial facilitation and advisory services in the Middle East. The financial solutions ecosystem received ...

Al AIN / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, received on Tuesday a number of falconers participating in the 4th International Festival of Falconry which began in Abu Dhabi on Monday. Sheikh Mohamed welcomed the falconers and discussed with them their activities during ...

SHARJAH / WAM Dr Salwa Ghaddar Younis, Ambassador of the United Nations (UN), and Chairperson of the Arab Family Organisation (AFO), stated that the UAE is a unique international model of the professional and financial empowerment of women, and the strengthening of their economic position, based on equal opportunities in all commercial areas. In her statements on the sidelines of ...

DUBAI / WAM The Emirates Post Group (EPG), announced the release of two new commemorative stamps, one to mark the Sheikh Zayed Heritage Festival and the other to mark the country’s 46th National Day. The Sheikh Zayed Heritage Festival stamp, with a release date of December 1, has a face value of AED3 and is issued in a sheet of ...

ABU DHABI / WAM Yahsat, a leading global satellite operator, based in the UAE, and Orbital ATK, a global leader in aerospace and defence technologies based in the US, on Monday announced that the ‘Al Yah 3’ satellite has successfully arrived at its launch site in Kourou, French Guiana. The satellite, the third in Yahsat’s fleet, is scheduled to be ...

SHARJAH / WAM Air Arabia on Tuesday announced that Asmara will become its first destination in Eritrea, starting from December 10. The flight will operate once a week on Sundays, departing from Sharjah International Airport at 22:00, and arriving at Asmara International Airport at 01:00 local time. The return flight will depart Asmara on Mondays at 01:40, landing in Sharjah ...