Local News

Abu Dhabi / WAM The Federal Tax Authority (FTA) has set three requirements and procedures for UAE nationals to refund Value Added Tax (VAT) incurred on the new residences. The conditions state that in order to refund VAT, applicants must be UAE national; the monetary cost in question must have gone towards financing the construction of a new residence, set ...

BRATISLAVA / WAM Gen. (Ret.) John Allen, President of the Brookings Institution, has commended the role the UAE has played as a global ally in the fight against terrorism and violent extremism. Allen’s remarks came during a panel discussion during the GLOBSEC2018 Bratislava Forum, entitled ‘The Middle East in Turmoil: Achieving Lasting Stability’. Dr. Anwar bin Mohammed Gargash, Minister of ...

Fujairah / WAM Fruit production in the Emirate of Fujairah rose to 42,061 tonnes in 2017, compared to 34,408 tonnes in 2016, a rise of 22 percent, according to the 2017 edition of the yearbook of the Fujairah Statistics Centre. The total value of fruit crops rose from AED 238.1 million to AED 289.98 million, an increase of 21.8 per ...

Abu Dhabi / WAM The UAE gives proper attention to systems of measurements as part of its efforts to support science and technology and quality infrastructure, stated Abdullah Al Maeeni, Director-General of the Emirates Authority for Standardisation and Metrology (ESMA). Al Maeeni said the UAE joined the International Bureau of Weights and Measures (BIPM), as a key member in 2016 ...

ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan, has sent congratulatory messages to the Kings, Emirs and Presidents of Arab and Islamic nations, on the advent of the Holy Month of Ramadan. In his messages, President His Highness Sheikh Khalifa wished the leaders and their people continued good health and well-being, and further progress and ...

ABU DHABI / WAM Adnoc Distribution released its financial results for the first quarter of 2018, with strong double-digit growth in net profit and EBITDA as well as impressive growth in gross profit in its convenience store business. Gross profit for the period increased 14.3% compared to the same period last year to AED1.185 billion, EBITDA has grown 24.9% to ...

ABU DHABI / WAM Abu Dhabi Fund for Development (ADFD) attended inauguration of the Northern City Residential and Infrastructure Project, one of the key strategic projects in Bahrain. ADFD has allocated AED 2.6 billion towards the development of the project. The Northern City Residential and Infrastructure Project has been developed as part of AED9.175-billion grant provided by the UAE to ...

DUBAI / WAM Noor Bank welcomed listing of $500 sukuk on Nasdaq Dubai. The capital raised supports Noor Bank’s continuing rapid growth as a fully scalable universal Islamic bank across the UAE active in a wide range of products and services including retail, corporate and investment banking as well as treasury and insurance. Noor Bank has arranged over $64 billion ...

ABU DHABI / WAM Abu Dhabi Securities Exchange (ADX) announced that it has succeeded in achieving a compliance rate of 99 percent regarding the disclosure of the first quarter (Q1) financial statements of its listed public joint stock companies within the deadline of 45 days from the end of the financial period. As many as 65 listed companies out of ...

ABU DHABI / WAM Upon the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan and the follow-up of HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs and President of the Khalifa bin Zayed Al Nahyan Foundation, the Khalifa bin Zayed Al Nahyan Foundation has concluded its preparations to launch its ...