News

Dubai / WAM Dubai SME, the agency of Dubai Economy mandated to develop the small and medium enterprise (SME) sector, in association with the American University in Dubai (AUD), has added a new business incubator to its expanding network of certified business incubators and accelerators. The new incubator at AUD embodies the vision laid down in the 50 Year Charter ...

ABU DHABI / WAM International Holding Company (IHC) subsidiary, Alpha Dhabi Holding PJSC (Alpha Dhabi), one of the fast-growing investments holding companies in the Middle East, and a leading real estate and construction companies in the UAE, has completed a direct listing of the company on the Abu Dhabi Securities Exchange (ADX). Trading of its shares commenced on Sunday under ...

DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has approved a new structure of Dubai Chambers’ board, on Sunday, to drive Dubai’s economic transformation and place the city as a global business hub. “We approved the new structure of the three Dubai chambers: Dubai Chamber of ...

Bloomberg The International Monetary Fund (IMF) board gave its unanimous support to a proposal to create a record $650 billion of new reserves for its members, bringing the plan to increase resources for nations struggling with the pandemic one step closer to final approval. All members attending the meeting of the executive board — composed of 24 individuals from IMF ...

Abu Dhabi / WAM The Federal Tax Authority (FTA) has called on tax registrants in the UAE to benefit from the penalty redetermination scheme introduced by Cabinet Decision No 49 of 2021 on Amending Some Provisions of Cabinet Decision No 40 of 2017 on the Administrative Penalties for Violation of Tax Laws in the UAE, which will be effective from ...

MORONI / WAM The UAE Ambassador to the United Republic of Comoros, Saeed Mohamed Al Meqbali, has met with the Speaker of the Assembly of the Union of Comoros, Abdou Moustadroine, in the capital, Moroni. During the meeting, they discussed ways to enhance cooperation between the two countries across various sectors, ways to develop bilateral ties, in addition to several ...

Bloomberg Oil posted its fifth straight weekly gain, the longest winning streak since December, as demand recovers and supplies continue tighten in the US and China. Futures in New York rise 3.4% this week to the highest level since October 2018. Demand continues to rebound while the market expects output will only get a modest increase from the Opec+ alliance, ...

Sharjah / WAM Bano Puratos, the leading Belgian-Lebanese manufacturer and supplier of innovative products of raw materials, utensils and machinery used in the chocolate, bakery, pastry, and ice cream industry, has announced expansion plans to double its monthly production capacity from 300 to 600 tonnes and increase the list of products from 45 to 150, in 2022. Bano’s production capacity ...

Dubai / WAM Dubai’s Roads and Transport Authority (RTA) opened Oud Metha Bus Station, the newest addition to bus stations featuring ultra-modern design rendering it a model station. It is integrated with the metro and taxi services as it is just 300 metres off Oud Metha Metro Station. The station offers a new concept in public transport services through integrated ...

Sharjah / WAM Bano Puratos, the leading Belgian-Lebanese manufacturer and supplier of innovative products of raw materials, utensils and machinery used in the chocolate, bakery, pastry, and ice cream industry, has announced expansion plans to double its monthly production capacity from 300 to 600 tonnes and increase the list of products from 45 to 150, in 2022. Bano’s production capacity ...