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  Bloomberg Hungary’s plan to cut its corporate tax rate to the lowest in the European Union from next year may spark a “race to the bottom” as its ex-communist peers look for ways to compensate investors for rising wages, according to BMI Research, a unit of Fitch Group. Wage pressures are set to intensify next year as central Europe ...

  PARIS / AFP Home sharing site Airbnb aims to extend its network of tax agreements to 700 cities by the end of next year, Monday’s Financial Times has quoted its chief executive as saying. The company has already clinched 200 tax agreements that allow it to collect and remit hotel taxes to local authorities, Brian Chesky told the newspaper. ...

  London / AFP Prime Minister Theresa May promised Monday to boost research investment as she sought to reassure business leaders nervous about the “cliff-edge scenario” of Britain leaving the European Union. May told a Confederation of British Industry (CBI) conference that her government would invest an extra £2 billion a year ($2.5 billion, 2.3 billion euros) in science research ...

  London / AFP The British government announced fresh investment in research and development on Monday, ahead of the first post-Brexit budget which is expected to signal a move away from the previous administration’s rigid fiscal targets. The government will increase research and development spending worth £2 billion ($2.5 billion, 2.3 billion euros) annually until 2020, Prime Minister Theresa May’s ...

  Sharjah / WAM Encouraging Emirati businesses to not only manufacture, but become vital exporters as part of international supply chains, will be the topic at the Industrial Cooperation and Supply Chain Conference, to be held today at the Sharjah Exports Development Centre, SEDC, and organised by the Sharjah Chamber of Commerce and Industry (SCC). Under the patronage of H.H. Sheikh ...

  Dubai / Emirates Business Legoland Dubai headlines UAE mega-projects that have been recognized as among the world’s most innovative, industry experts announced on Monday ahead of The Big 5 construction exhibition. One of the world’s most attractive construction markets, the UAE hosts a robust construction pipeline of more than US$700 billion, over one-third of the GCC’s pipeline, according to ...

  Dubai / Emirates Business UAE Exchange, the leading global remittance, foreign exchange and payment solutions brand, unveiled its first ever “women-powered” branch at the Dubai Airport Free Zone (DAFZA), UAE. This is a first-of-its-kind initiative in the UAE by any exchange house and is also in line with the vision of the UAE Federal Government in bringing gender equality. ...

  Dubai / Emirates Business The Commercial Compliance & Consumer Protection (CCCP) sector in the Department of Economic Development (DED) has asked all beauty salons in Dubai to install automated cash registers by the end of February 2017. The campaign, named ‘e-Cashier’ is aimed to enhance transparency and protect consumer rights, and follows a growing number consumer complaints on price ...

  Abu Dhabi / Emirates Business Reem Mall, Abu Dhabi’s upcoming fashion, entertainment and dining destination in the heart of Abu Dhabi, announced on Monday that it has signed terms of agreement with Dubai Holding Group. Commenting on the latest development for the much anticipated US$1bn project, Shane Eldstrom, Chief Operating Officer for Reem Mall said: “We are pleased to ...

  Dubai / Emirates Business Dubai Investment Development agency (Dubai FDI), an agency of the Department of Economic Development (DED), recently visited Japan, meeting with business representatives, investors and investment facilitators and updating them on the opportunities in Dubai. “The growing emphasis on sustainability, competitiveness, smart technologies and happiness across development initiatives in Dubai presents significant opportunities for taking UAE-Japan ...