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Abu Dhabi / WAM The Federal Tax Authority (FTA) has set three requirements and procedures for UAE nationals to refund Value Added Tax (VAT) incurred on the new residences. The conditions state that in order to refund VAT, applicants must be UAE national; the monetary cost in question must have gone towards financing the construction of a new residence, set ...

Abu Dhabi / WAM The Abu Dhabi City Municipality has called upon property developers to expedite the registration of their real estate development projects under the Real Estate Regulatory Law No. 3/2015. A statement to this effect was made during a meeting with escrow account managers and developers and licensing of property units team at the Municipality. Attendees of the ...

Bloomberg China offered to reduce its trade surplus with the US by “at least $200 billion” in talks to head off a possible trade war, the director of the White House National Economic Council said. “The number’s a good number,” Larry Kudlow, President Donald Trump’s top economic adviser, told reporters at the White House. “I think just as important, they ...

Bloomberg India’s government counts on high-tech encryption, multi-layered authentication, and even 13-feet high walls to protect the world’s largest biometric database. But there’s no measure that prevents careless officials at government agencies from publishing the sensitive information online, exposing citizens to fraudsters and data misuse. The official website boasting Prime Minister Narendra Modi’s efforts to connect all Indian villages with ...

Bloomberg iZettle AB finalised its deal to be bought by PayPal Holdings Inc for $2.2 billion the evening before the Swedish fintech startup was set to price its shares in an initial public offering. It looked like an abrupt about-face for the company, which competes with Square Inc. and Canada’s Shopify Inc. On May 8 it announced it was seeking ...

Bloomberg Cisco Systems Inc. shares slipped in trading after the network-equipment maker’s fourth-quarter forecasts fell short of Wall Street’s most optimistic projections. Before the company provided its outlook for the current period, the stock had surged 32 percent in a year, last week reaching the highest price in more than 17 years. While Cisco said it’s optimistic about demand and ...

Bloomberg Daimler AG and Deutsche Telekom AG agreed to a 3.2 billion-euro ($3.8 billion) deal with the German government, ending a spat over the clunky start of a system to collect truck tolls that had become one of the country’s longest running legal disputes. The agreement involves a cash payment of 1.1 billion euros, which will be split evenly between ...

Bloomberg As Donald Trump shakes up the global order, German Chancellor Angela Merkel is being pushed closer toward a more predictable partner in Moscow. When President Vladimir Putin hosted Merkel in the Black Sea resort of Sochi on Friday, both leaders did their best to keep tensions in the background compared with a year ago, when they clashed over Ukraine ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, attended on Wednesday part of training programme about Artificial Intelligence (AI), which was launched by the UAE government in partnership with Oxford University. Sheikh Mohammed was briefed about the training programme by Minister of State for Artificial Intelligence ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai has said that the UAE is keen on promoting innovation culture in government and among people, as well as spreading knowledge to build a generation of Arab innovators and future leaders. His Highness also said that the ...