News

  Bloomberg India will review rules to clarify how it will tax foreign companies that provide digital services such as internet advertising, online education, media streaming, news subscriptions and data storage. Currently, even if they have no other taxable presence in India, foreign service providers must pay an 18% goods and services tax if their offerings are largely automated, involve ...

  Bloomberg The Covid-19 outbreak that’s hitting China is being caused by strains of the virus that have already circled the world, with no signs yet of significant new mutations emerging, according to officials at a global consortium that’s tracking the pandemic. Chinese authorities submitted 25 new genetic samples from Beijing, Inner Mongolia and Guangzhou taken in the past month ...

  Bloomberg South Korea’s parliament approved a 2023 budget that reflects a more rigorous fiscal approach from the new government as it tries to position the nation to address rising economic risks. The 639 trillion won ($499 billion) fiscal blueprint passed represents efforts by officials under President Yoon Suk Yeol to reduce South Korea’s debt dependence and wean the economy ...

  Abu Dhabi / Gulf Time Khalifa Economic Zones Abu Dhabi – Kezad group, the integrated trade, logistics, and industrial hub of Abu Dhabi, has signed a lease agreement with Euro Auctions Middle East, a subsidiary of the Euro Auctions Group, to establish its largest auction house in the region for industrial plant, construction equipment and agricultural machinery. Under the ...

  Abu Dhabi / WAM During the Healthcare Protective Shield Wargaming Conference, the Department of Health – Abu Dhabi (DoH), the regulator of the healthcare sector in the emirate, identified different risk scenarios and helped prepare healthcare entities in Abu Dhabi for cyber threats by evaluating effectiveness of entities’ incident response and communication plan with the help of simulated cyber ...

  Bloomberg Oil rises, heading for second weekly gain, as Russia said it may cut crude production in response to the price cap imposed by the Group of Seven on its exports, highlighting risks to global supplies in the New Year. West Texas Intermediate climbed to $79 a barrel, putting it on course for a gain of about 6% for ...

  Abu Dhabi / WAM First Abu Dhabi Bank (FAB) with the support of its affiliate, Magnati, is collaborating with PayRow Net through the Ports Customs and Free Zone Corporation (PCFC) to establish a best-in-class digital payment platform to spur Dubai’s shift towards becoming a cashless economy. The new payment ecosystem is set to transform the existing payment gateway, leading ...

Ajman / WAM Abdullah Al Muwaiji, Chairman of the Board of Directors of Ajman Chamber of Commerce and Industry (ACCI), has affirmed the chamber’s keenness to consolidate its external relations and build strong partnerships to achieve sustainable future growth for the economy of the emirate of Ajman. This came during his meeting, at the chamber’s headquarters, with Faisal Niaz Tirmizi, ...

  Dubai / WAM A total of 2,926 real estate transactions worth over AED9.1 billion were conducted during the week ending December 23, according to figures released by the Dubai Land Department (DLD). The DLD report revealed that 159 plots were sold for AED877.59 million, while 2,233 apartments and villas were purchased for AED5.44 billion. The top three transactions were ...

Abu Dhabi / WAM Abu Dhabi Sustainability Week (ADSW) 2023, the global initiative championed by the UAE and its clean energy powerhouse Masdar to accelerate sustainable development, will feature a series of high-level sessions focused on the key priorities for sustainable development ahead of the United Nations Climate Change Conference (COP28), to be held in the UAE from November 30 ...