News

Dubai / WAM The Federal Tax Authority (FTA), and Dubai Land Department (DLD), have confirmed that the UAE’s recently introduced VAT will have a limited impact on the real estate sector. FTA and DLD have stated that all real estate transactions, with the exception of the sale of vacant commercial properties and commercial property leases, will be either not subject ...

DUBAI / WAM Dubai Investments has announced plans to lead a consortium of investors to launch Arkan Bank, a wholesale Islamic financial institution with an initial paid-up capital of $100 million. The authorised share capital of Arkan Bank will be $500 million. Arkan Bank is applying to the Dubai Financial Services Authority (DFSA), for approval for a prudential ‘Category 5’ ...

Sharjah/ Emirates Business The Sharjah Business Women Council (SBWC) and the Sharjah Economic Development Department (SEDD), launched a ‘single-window’ service exclusively for female entrepreneurs to accelerate business processing, including applications, permits, visas and licences. SBWC is one of NAMA Women Advancement Establishment’s (NAMA) entities. The NAMA-SEDD initiative is in line with the directives of Her Highness Sheikha Jawaher bint Mohammed ...

Dubai / Emirates Business Meraas announced the winners of its first annual brokers awards at a ceremony held at the Yacht Club at Bulgari Resort & Residences Dubai on Jumeira Bay. The Meraas Brokers Awards were created to recognise the impact leading real estate brokers have had on the industry in Dubai, and the ceremony coincided with an exclusive sales ...

Abu Dhabi / Emirates Business Eagle Hills Abu Dhabi, the private real estate investment and development company, on Tuesday unveiled its new state-of-the-art sales centre located on the 12th floor of Capital Gate Abu Dhabi. The interactive facility features a huge touch-enabled screen designed to serve more than one customer at a time. In addition to providing useful information on ...

Sharjah / Emirates Business Sharjah Investment and Development Authority (Shurooq) signed a partnership agreement with Diamond Developers, a leading Dubai-based company specialised in developing sustainable environmental projects, to deliver a large mixed-used project in Sharjah. The implementation of the green project aligns with Shurooq’s vision to strengthen strategic partnerships with the private sector, giving a strong boost to the drive ...

DUBAI / Emirates Business Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism) highlighted Dubai’s growing popularity as a global cruise destination viable for pre-cruise and post-cruise stopovers and an apt homeport in the region at the Seatrade Cruise Global in Florida, USA, a leading event for the cruise industry. Dubai Tourism exhibited under the Cruise Arabia banner, bringing together ...

Bloomberg Saudi Arabia’s exports of diesel and gasoline soared to a record in January, underscoring a big advantage the world’s largest oil exporter has over other producers who’re more dependent on shipments of lower-value crude. While the kingdom kept crude output below an OPEC-agreed cap, its shipments of diesel, gasoline and other fuels surged by 27 percent to a record ...

Bloomberg India is poised to lift its domestic natural gas price to the highest in at least two years, boosting earnings of producers like Oil and Natural Gas Corp., according to a survey of analysts and industry participants. The federal government will increase the price to $3.2 per million British thermal units for April to September, almost 11 percent more ...

Bloomberg Oil climbed to a two-week high as investors weighed record compliance to output curbs by OPEC and its allies against expanding US supplies and a broader selloff in risk assets. Futures in New York rose as much as 1.1 percent after dropping for the first time in four sessions. While US crude inventories are forecast to have grown by ...