News

Bloomberg Are Britons living beyond their means? That’s the question being asked by the Office for National Statistics after households saw their outgoings exceed their incomes last year for the first time in three decades. Each household spent or invested about 900 pounds ($1,187) more than they received on average — 25 billion pounds in total, according to an ONS ...

ABU DHABI / WAM Preparations are in full swing to launch KhalifaSat, the first satellite fully built in the UAE by a team of highly qualified Emirati engineers, into orbit before end of the year from the ground station in Japan aboard the rocket, H-IIA, revealed Director-General of the UAE Space Agency. ‘‘The UAE Space Agency is planning to launch ...

HODEIDAH / WAM Up to 2800 Yemenis in Ad Durayhimi District of the Hodeidah Governorate have benefitted from an extensive humanitarian airdrop operation carried out by Saudi-led Arab Coalition Forces, for second time in a week. Utilising state-of-the-art technology, including parachutes and GPS techniques, the airdrop, which included 400 food parcels, as well as mineral water provided by the Emirates ...

DUBAI / WAM DP World has signed a 20-year concession with an automatic 20-year extension with the Republic of Mali to build and operate a 1000-hectare modern logistics hub outside of Bamako, the capital and largest city of Mali. The multimodal logistics platform, Mali Logistics Hub (MLH) will have inland container depots (ICD) and Container Freight Stations (CFS) that will ...

DUBAI / Emirates Business Economic confidence in the UAE and the Middle East rebounded further in the second quarter of the year and is now at its highest level since Q2 2015, despite a slowdown in the global economic recovery that started in late 2016, finds the latest edition of ACCA (the Association of Chartered Certified Accountants) and IMA Global ...

ABU DHABI / WAM The Federal Tax Authority (FTA) has determined three main categories of “eligible goods” for calculating Value Added Tax (VAT) on the basis of the profit margin scheme. These are second-hand goods, meaning tangible movable property that is suitable for further use as it is or after repair; antiques, i.e. goods that are over 50 years old; ...

ABU DHABI / WAM Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, on Wednesday published a consultation paper setting out its proposed regulatory framework for operators of Private Financing Platforms (PFPs) in ADGM. The consultation paper follows positive feedback received from the industry in response to the March discussion paper issued by the Financial Services Regulatory ...

ABU DHABI / WAM Preparations are in full swing to launch KhalifaSat, the first satellite fully built in the UAE by a team of highly qualified Emirati engineers, into orbit before the end of the year from the ground station in Japan aboard the rocket, H-IIA, revealed Director-General of the UAE Space Agency. “The UAE Space Agency is planning to ...

ABU DHABI / WAM The Office of the Minister of Tolerance and Etihad Airways have signed a cooperation agreement to promote the values of tolerance, coexistence and respect for diversity. The agreement between the two parties seeks to promote these values in a more sustainable and enriching manner among different nationalities, cultures and religions via community projects in national and ...

Abu Dhabi / Emirates Business Effective October 3, Etihad Airways will introduce the Boeing 787-9 Dreamliner on its scheduled services from Abu Dhabi to Rabat, capital of the Kingdom of Morocco, replacing the Airbus A330-300 currently serving the route. The introduction of the technologically advanced aircraft on Rabat services is a further boost to its presence in the Moroccan market. ...