Local News

Abu Dhabi / WAM Noura bint Mohammed Al Kaabi, Minister of Culture and Knowledge Development, has said that the world is celebrating on Wednesday World Youth Day, under the theme, “Involving Youth in Global Efforts,” to highlight the participation of the youth in local and international events and present their achievements in all sectors. On the occasion, Al Kaabi pointed ...

Abu Dhabi / emirates business Watania’s net profit jumps to AED16.6 million during the first six months of 2020 from AED7 million as compared to the same period last year – a growth of 136%, declared Dr Ali Saeed Bin Harmal Al Dhaheri, Chairman of the Board of National Takaful Company. The lockdown imposed on account of the pandemic saw ...

DUBAI / WAM Dubai Land Department (DLD), in cooperation with Property Finder, launched the fourth edition of Mo’asher, Dubai’s official sales price index. The base year for Mo’asher is 2012 and the base month for the monthly index is January 2012, with the base quarter for the quarterly index being Q1 2012. A strong momentum in June laid the foundation ...

DUBAI / WAM The Beit Al Khair Society announced that its overall spending in the first half of 2020 amounted to AED119.3 million which benefitted 24,618 vulnerable families and a total of three million people. Abdeen Taher Al Awadhi, Director General of society, stated that the second quarter witnessed progress in the types and value of aid provided by the ...

Abu Dhabi / WAM The Federal Tax Authority (FTA) clarified via a guide that Value Added Tax (VAT) is applied on e-commerce services (also known as “electronic commerce”, sometimes referred to as the “digital economy”) upon their actual use or enjoyment in the UAE. Users should note that although many of the general rules of VAT apply to e-commerce, there ...

Dubai / Emirates Business Emaar Malls, the developer of premium shopping malls and retails assets including The Dubai Mall, majority-owned by Emaar Properties, reports revenue of AED1.657 billion in the first half of 2020 (January to June). With a first-half net profit of AED345 million, the result demonstrates the resilience of the business. Commenting on the results of the first ...

Dubai / WAM Mattar Mohammed Al Tayer, Director-General and Chairman of the Board of Executive Directors of Roads and Transport Authority (RTA) held a remote video meeting with Bernard Tabary, CEO International at Keolis Group; a leading French firm and operator of passenger transport on various transit modes. The meeting discussed cooperation and exchange of expertise between RTA and Keolis. ...

Abu Dhabi / WAM Modon Properties, mandated by the Government of Abu Dhabi to develop integrated tourism destinations and sustainable residential communities, signed a long-term lease agreement with LuLu Group International for the operation of retail outlets at the Courtyard Mall complex in Riyadh City, Abu Dhabi. The agreement is the result of Modon’s ongoing cooperation with leading retailers as ...

DUBAI / WAM Oman Insurance Company announced that it has posted a net profit of AED110.2 million in the first half of this year, a four percent increase as compared to the same period last year while having increased its solvency above 250 percent. Total Gross Premium Written (GPW) at the end of H1 2020 is AED2.1 billion (+3 percent ...

DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, inaugurated the Mohammed bin Rashid Medical Research Institute, the UAE’s first independent biomedical research centre on Tuesday. Deputy Ruler of Dubai HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum; Chairperson of the Board of Trustees of ...