News

Bloomberg McDonald’s Corp is moving its innovation centre and about 100 jobs into central Chicago — a big bet on the city that comes as other high-profile companies flee the area’s high taxes and crime. The world’s biggest restaurant company by sales said it’s relocating the workers from Romeoville, a Chicago suburb, to the company’s headquarters in the city. The ...

  DUBAI / WAM The Federal Tax Authority (FTA), in partnership with Planet Tax Free,on Wednesday launched a 100 percent digital VAT-refund scheme for tourists. The announcement was made at a joint press conference in presence of Khalid Ali Al Bustani, FTA Director-General, and Eyad Al Kourdi, General Manager of Planet Tax Free, the operator of the tax refund system ...

  ABU DHABI / WAM AD Ports Group completed the acquisition of a 70 percent equity stake in Transmar International Shipping Company (Transmar) and Transcargo International S.A.E. (TCI). The total purchase consideration (Enterprise Value) for 70% shareholding amounts to AED514 million (US$140 million). It is the first international acquisition realised by AD Ports Group. The value-accretive acquisitions of the two ...

  ABU DHABI / WAM The Abu Dhabi Awards has launched the ‘Abu Dhabi Awards Young Ambassadors’ programme, in collaboration with the Emirati Children’s Parliament and the Children Advisory Council of the Supreme Council of Motherhood and Childhood. Running its first edition, the programme aligns with the Abu Dhabi Awards’ core value of inclusion by engaging all members of the ...

  THESSALONIKI / WAM Abdullah bin Touq Al Marri, Minister of Economy, held bilateral meetings with several Greek ministers and government officials at the UAE pavilion in the ongoing 86th Thessaloniki International Trade Fair (TIF). The meetings focused on promoting collaboration and bilateral relations between the two countries and highlighting the key economic sectors for investments in the UAE, including ...

Abu Dhabi / WAM Adnoc Refining, a joint venture company between the Abu Dhabi National Oil Company (Adnoc), Eni, and OMV, is set to complete the first phase of its innovative Waste Heat Recovery project at the General Utilities Plant in Ruwais, Abu Dhabi. Adnoc produces some of the world’s least-carbon intensive crude and the company is further reducing its ...

  Abu Dhabi / WAM The Ministry of Economy, represented by The Entrepreneurial Nation, has launched a new initiative to attract Small and Medium Enterprises (SMEs) to the UAE and help promote their growth and local and global expansion. The initiative has been launched in collaboration with Flat6labs, a leading seed and early stage venture capital firm based in Abu ...

  DUBAI / WAM Dubai real estate market recorded 386 sales transactions worth AED1.2 billion, in addition to 84 mortgage deals of AED151.32 million, and 62 gift deals amounting to AED48.92 million on Wednesday, data released by Dubai’s Land Department (DLD) showed. The sales included 341 villas and apartments worth AED1.01 billion, and 45 land plots worth AED195.91 million, while ...

  ABU DHABI / WAM Adnoc Refining, a joint venture company between the Abu Dhabi National Oil Company (Adnoc), Eni, and OMV, is set to complete the first phase of its innovative Waste Heat Recovery project at the General Utilities Plant in Ruwais, Abu Dhabi. Adnoc produces some of the world’s least-carbon intensive crude and the company is further reducing ...

  ABU DHABI / WAM The Ministry of Economy, represented by The Entrepreneurial Nation, has launched a new initiative to attract Small and Medium Enterprises (SMEs) to the UAE and help promote their growth and local and global expansion. The initiative has been launched in collaboration with Flat6labs, a leading seed and early stage venture capital firm based in Abu ...