News

  Bloomberg Coffee farmers in Vietnam, the world’s biggest grower of the robusta variety, collected about 40% of the 2022-23 crop as of early December amid concerns about bean quality due to prolonged rains, according to Nguyen Nam Hai, head of the nation’s coffee association. Extensive rains hit major coffee-producing provinces of Dak Lak, Gia Lai and Kon Tum this ...

  Riyadh / WAM Mubarak Al Nakhi, Under-Secretary of the Ministry of Culture and Youth (MCY), participated in the 23rd session of the Conference of Arab Culture Ministers, which was held in the Saudi capital, Riyadh, under the patronage of His Highness Prince Badr bin Abdullah bin Farhan, Saudi Arabia’s Minister of Culture and Chairman of the National Committee for ...

  DHAHRAN / WAM The Saudi Arabian Oil Company (Aramco) and Shandong Energy group, are exploring collaboration on integrated refining and petrochemical opportunities in China. The companies have signed a memorandum of understanding (MoU) which includes a potential crude oil supply agreement and chemicals products offtake agreement, supporting Aramco’s role in building a thriving downstream sector in Shandong Province. The ...

  Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has issued a federal decree appointing Faras Al Ramahi as Director-General of the General Pension and Social Security Authority (GPSSA). During his career that spans over more than 26 years, Al Ramahi held a number of positions in the financial field, and has experience in asset ...

  Dubai / WAM A total of 3,186 real estate transactions worth over AED 9.1 billion were conducted during the week ending December 9, according to figures released by the Dubai Land Department (DLD). The DLD report revealed that 419 plots were sold for AED2.24 billion, while 2,233 apartments and villas were purchased for AED4.64 billion. The top three transactions ...

  Dubai / WAM The UAE issued Federal Decree-Law No. 47 of 2022 on Taxation of Corporations and Businesses (the ‘corporate tax law’). Businesses will become subject to UAE corporate tax (corporate tax) from the beginning of their first financial year that starts on or after June 1, 2023. The UAE’s Corporate Tax regime will levy a standard rate of ...

  Abu Dhabi / WAM Etihad Airways has announced that it is reintroducing four of its A380s in the summer of 2023, following a surge in demand for air travel across the airline’s network and customer feedback. Mohammed Ali Al Shorafa, Chairman of Etihad Aviation Group, said, “It is wonderful to announce the return of this splendid aircraft. The A380’s ...

  Dubai / WAM The Ministry of Human Resources and Emiratisation (MoHRE) and the Federal Authority for Identity, Citizenship, Customs & Port Security (ICP) announced completing 4,719,000 joint transactions in the first 10 months of 2022 as the two entities offer 35 common services — 23 for business owners and families employing domestic helpers, and 12 for private sector employers ...

  Abu Dhabi / WAM The UAE announced a Federal Decree-Law on Personal Status to all non-Muslim foreigners in the country, to be applied from February 1, 2023. The Federal Personal Status Law comes in line with the UAE’s continuous efforts to develop its legislative ecosystem and supports the country’s endeavours and ambitions for the next fifty years, through strengthening ...

  Abu Dhabi / WAM Abdullah Ali Al Hamoudi, UAE ambassador to the People’s Republic of Bangladesh, met with Shahriar Alam, State Minister of Foreign Affairs of the People’s Republic of Bangladesh. During the meeting, both sides discussed strengthening and widening the horizons and areas of cooperation between the two countries, as well as a number of issues of common ...