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ABU DHABI / WAM The Federal Tax Authority (FTA), has outlined four conditions that would allow foreign businesses to recover Value Added Tax (VAT), incurred in the UAE in a new guide on “VAT Refunds for Business Visitors”, published on its official website. To be eligible for the VAT refund, the first condition is that foreign businesses must not have ...

ABU DHABI / WAM Abu Dhabi General Services Company (Musanada) has, in collaboration with the Abu Dhabi Department of Education and Knowledge (ADEK), completed the AED129 million C2 and C3 Mleih School project stretching over an area of 50,000 square metres, in the context of the Abu Dhabi Future Schools Programme, Phase VI, Package 1. Ali Al Haj Al Mehairbi, ...

Bloomberg China has offered to go on a six-year buying spree to ramp up imports from the US, in a move that would reconfigure the relationship between the world’s two largest economies, according to officials familiar with the negotiations. By increasing goods imports from the US by a combined value of more than $1 trillion over that period, China would ...

Bloomberg Alibaba Group Holding Ltd is cutting its spending on travel and postponing some new hiring as China’s largest e-commerce company braces for a slowing economy, people familiar with the matter said. Some new hires were told they can’t start until the new fiscal year begins in April, the people said, asking not to be named because the matter is ...

Bloomberg The European Union unveiled a blueprint for a free-trade deal with the US that would cut tariffs on a wide range of industrial goods including cars in a bid to heal commercial ties. European Trade Commissioner Cecilia Malmstrom asked EU governments in Brussels for the go-ahead to start negotiations on lowering trans-Atlantic commercial barriers, prodding US President Donald Trump ...

Bloomberg A US privacy investigation of Facebook Inc, begun after a major data breach was exposed in March, is likely to result in a record fine against the company, according to a person familiar with the matter. The Federal Trade Commission, the nation’s chief privacy watchdog, is weighing a penalty against the social-media giant for violating a 2011 settlement with ...

Bloomberg Elon Musk is cutting Tesla Inc.’s workforce by 7 percent — or more than 3,000 jobs — warning that the “road ahead is very difficult” in making electric cars more affordable for the mass market. Tesla shares fell as much as 7.7 percent shortly after the start of regular trading. Musk wrote in a blog post that the Palo ...

ABU DHABI / WAM The UAE is establishing a new model of sustainability, investing heavily in advanced science and technology, and equipping national talents with the necessary skills to ensure optimal use of available resources, asserted Ministers from the UAE Government at a special ministerial session during Abu Dhabi Sustainability Week 2019 (ADSW 2019). Sustainability is the way for the ...

DUBAI / WAM A high level Italian delegation led by Italian Vice-Minister of Foreign Affairs and International Cooperation, Manlio Di Stefano, explored ways to build closer ties in energy and water sectors with the Dubai Electricity and Water Authority (Dewa). This came during a meeting held by Saeed Mohammed Al Tayer, Managing Director and CEO of Dewa, with the delegation. ...

Abu Dhabi / WAM Masdar, the Abu Dhabi Future Energy Company, has positioned itself in the commercial off-grid energy sector by increasing its capacity to rapidly deploy solar kits in off-grid communities around the world. Building on the company’s extensive experience delivering renewable solutions in remote communities, the Masdar-branded kits named “Noor” – displayed at the Masdar stand throughout Abu ...