News

Bloomberg The cost to move goods in a shipping container to Europe from Asia shot above $10,000 for the first time on record, an index showed, underscoring the pain inflicted on exporters and importers struggling with stretched supply chains. The Drewry World Container Index showed the rate for a 40-foot container from Shanghai to Rotterdam rose to $10,174, up 3.1% ...

ABU DHABI / WAM The UAE has obtained support from member states of the World Tourism Organisation (UNWTO) Regional Commission for the Middle East for its candidature for the organisation’s Executive Council for the first time. The voting process to ratify candidacy will take place during the UNWTO General Assembly meeting in Morocco next October. The UAE submitted its nomination ...

Bloomberg President Joe Biden’s proposed tax hikes are forecast to bring in $3.6 trillion over the next decade, the Treasury Department said, a key funding source for the $4 trillion he hopes to spend remaking the American economy and social safety net. The figure, representing the sum of all tax increases if enacted by Congress, came as is part of ...

Sharjah / WAM Under the directives of HH Sheikha Jawaher bint Mohammed Al Qasimi, wife of HH the Ruler of Sharjah, Chairperson of The Big Heart Foundation (TBHF) and Eminent Advocate for Refugee Children at the United Nations High Commissioner for Refugees (UNHCR), TBHF has mobilised $1 million to fulfill critical medical and psychological needs of children severely affected by ...

Bloomberg Oil posted its biggest weekly gain since the middle of April ahead of the US Memorial Day weekend that kicks off country’s summer driving season. West Texas Intermediate rises 4.3% this week. A spate of positive US economic data this week continued to highlight the recovery taking shape in the world’s largest oil-consuming country, while Americans are expected to ...

Dubai / WAM Ongoing field inspections by Dubai Economy across open markets and commercial establishments saw 26 fines being issued for violation of precautionary guidelines against Covid-19. The violations, detected in outlets spread across markets and malls, were mostly related to face masks or physical distancing. Increased visitors numbers across malls during the recent 3-day super sale had seen a ...

Abu Dhabi / WAM The Federal Tax Authority (FTA), confirmed that Cabinet Decision No. 49 of 2021 on amending some provisions of the Administrative Penalties for Violation of Tax Laws in the UAE, is designed to support tax registrants and help them fulfill their tax obligations, thereby enhancing the state’s competitiveness in the field of conducting business. In a press ...

Abu Dhabi / WAM Abu Dhabi Emergency, Crisis and Disasters Committee, in collaboration with Department of Health – Abu Dhabi and the Abu Dhabi Public Health Centre, has issued a reminder about home quarantine guidelines for those in contact with a positive case, to protect the health and safety of all community members. Vaccinated individuals are required to spend five ...

Abu Dhabi / WAM Youssef Saeed Al Abri, Undersecretary of the Abu Dhabi Judicial Department (ADJD), launched the second phase of the “Deposit Digital Disbursement” project, enabling an integrated automatic and electronic disbursement of deposits by making the relevant service available via the ADJD’s website, after obtaining the necessary approvals from the court or the competent prosecution office, then transferring ...

Dubai / WAM Ongoing field inspections by Dubai Economy across open markets and commercial establishments saw 26 fines being issued for violation of precautionary guidelines against Covid-19. The violations, detected in outlets spread across markets and malls, were mostly related to face masks or physical distancing. Increased visitors numbers across malls during the recent 3-day super sale had seen a ...