News

Bloomberg A no-deal Brexit could create yet another headache for the European Union as it prepares to hand dozens of UK-based companies a tax bill that is expected to top $1.5 billion. With just over two months left until Britain’s scheduled departure date of March 29, time is running out for the European Commission to order the UK to recoup ...

Bloomberg Uber Technologies Inc. Chief Executive Officer Dara Khosrowshahi said it was “possible” the ride-hailing giant would look for outside investors for its self-driving car unit, but isn’t currently searching for backers. The company’s pouring large, undisclosed sums of money into its Advanced Technologies Group, which includes the company’s self-driving car research as well as plans to build VTOL (vertical ...

Bloomberg Swedish unemployment rose for a second month in December as job seekers flocked to the labour market at the tail-end of a long economic expansion. The seasonally-adjusted rate rose to 6.4 percent, up from a revised 6.2 percent in November, Statistics Sweden said. Economists surveyed by Bloomberg had expected a rate of 6.2 percent in December. Swedish unemployment remains ...

Bloomberg Strong US demand and a tight job market have given companies a chance to raise prices coming into this year, and they’re testing the waters gingerly. From consumer goods and airlines to railroads, businesses made attempts to recover higher costs including rising pay for workers, or simply lifted prices to try to boost profit margins amid healthy sales, according ...

ABU DHABI / WAM The Abu Dhabi Fund for Development (ADFD) financed 129 development projects in the education sector with a total value of AED2.5 billion. Benefitting 14 developing countries, these projects have contributed to achieving the United Nations’ Sustainable Development Goals (SDGs). The fund’s steadfast commitment to supporting developing countries in achieving their development priorities through building capabilities and ...

Bloomberg Oil closed higher for the third day in a row as a deal to reopen the US government eased investor fears while political turmoil in Venezuela roiled one of the world’s biggest suppliers of heavy crude. Futures in New York rose 1.1 percent, gaining steam on reports US President Donald Trump agreed to a three-week pause in the government ...

Dubai / WAM The Dubai Land Department (DLD), signed three Memorandums of Understanding (MoUs), during its participation as a strategic partner of the Egypt Mega Property Show, held in Cairo with the aim of promoting urban development between the two countries to encourage investment and real estate promotion as well as enhancing confidence by providing a distinctive and balanced investment ...

ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan, has sent a message of congratulations to President Ram Nath Kovind of India, on the occasion of his country’s Republic Day. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Mohamed bin ...

ABU DHABI / WAM The Federal Tax Authority (FTA), defined the conditions for tax de-registration, in accordance with Federal Decree-Law No. 8 of 2017. In a statement issued on Saturday, the Authority clarified the conditions and procedures for de-registration for Value Added Tax (VAT), since its implementation. The FTA explained that if a registrant stops making taxable supplies or if ...

DUBAI / WAM The Emirates Authority for Standardisation and Metrology (Esma) adopted the requirements for the official use of stamping on jewellery, precious metals and stones in UAE markets, in order to guarantee the highest levels of confidence among consumers nationwide. The Esma Board of Directors, in a meeting chaired by Sultan bin Saeed Al Mansouri, Minister of Economy and ...