News

Dubai / Emirates Business The varied initiatives launched by Dubai Land Department (DLD) share several common factors, including promoting a culture of creativity and innovation among all parties involved in the real estate sector. This objective is evident in the many innovative applications designed to serve DLD’s customers, ensure their comfort and prevent wasting their time, and showcase DLD’s commitment ...

DUBAI / WAM Digital consumption in the Middle East and North Africa region is growing at one of the fastest paces in the world, driven by a large population, fast-improving mobile connectivity and a flood of new streaming platforms in the market, according to an EY report commissioned by the Dubai World Trade Centre (DWTC). The report was published ahead ...

Abu Dhabi / Emirates Business The UAE Research Program for Rain Enhancement Science will hold an award ceremony on the sidelines of Abu Dhabi Sustainability Week (ADSW) to announce its Third Cycle awardees. The Program will also host its Second International Forum on Rain Enhancement Science that provides a platform for the exchange of ideas related to the development of ...

Dubai / Emirates Business The Federal Tax Authority (FTA), has clarified the import procedures for non-registered businesses, adopting the e-Dirham system for payments and e-Guarantee to provide guarantees, in order to ease processes for non-registered importers. Non-registered businesses wishing to import, are required to follow standard customs procedures and pay VAT in one of the following methods: By completing a ...

ABU DHABI / WAM The Zayed Volunteers Humanitarian Hospital opened in Cox’s Bazar, Bangladesh, as part of a programme by the Zayed Giving Initiative to treat children and elderly Rohingya refugees. The United Arab Emirates is the first Arab country to set up a field hospital to serve Rohingya refugees under the supervision of a UAE-Bangladesh volunteer medical team. This ...

Bloomberg China is stepping up its policing of international companies such as Inditex SA-owned Zara and Delta Air Lines Inc. and demanding they respect the government’s position on long-standing territorial disputes from Taiwan to Tibet. The Cyber Administration Office in Shanghai said Zara listed Taiwan, an island that China claims as its own, as a separate country on its website. ...

Bloomberg Infosys Ltd. posted a 38 percent surge in third-quarter profit on a tax benefit and investments in digital technologies as its new chief executive officer maintained forecasts for slowing sales growth. Net income was 51.3 billion rupees ($806 million) in the three months ended in December, compared with the 36.1 billion rupee average of estimates compiled by Bloomberg. The ...

Bloomberg Bank Indonesia is taking a firm stance against cryptocurrencies as it urges all parties to refrain from owning, selling or trading the tokens. “Owning virtual currencies is very risky and inherently speculative,” the central bank said in a statement on Saturday. The digital tokens “are prone to forming asset bubbles and tend to be used as method for money ...

Bloomberg Maoyan Weying, China’s biggest online movie ticketing platform, is planning a Hong Kong initial public offering that could raise about $1 billion, people with knowledge of the matter said. The company, which also helped fund the latest “Transformers” movie, has held initial discussions with potential advisers about the share sale, according to one of the people. It is targeting ...

SINGAPORE / Reuters Oil prices have risen above $70 per barrel for the first time since 2014 as investors bet supply cuts led by OPEC will dominate the market this year. But some traders are sounding a warning — the world’s biggest crude consuming region, Asia, is showing signs of an impending downward correction. Prices for Brent crude oil futures, ...