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DUBAI / WAM The UAE has succeeded in establishing an integrated tax system that is now considered as one of the best in the world, said His Highness Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance, while chairing the fourth meeting of the Board of Directors of the Federal Tax Authority (FTA). “The FTA ...

Dubai / WAM Germany, Europe’s largest economy and one of the world’s leading supporters of renewable energy, on Wednesday sealed its €50 million (AED226 million), investment in the next World Expo by signing an official participation contract for Expo 2020 Dubai. Dietmar Schmitz, Commissioner General of the German Pavilion, and Najeeb Mohammed Al-Ali, Executive Director at the Dubai Expo 2020 ...

Abu Dhabi / WAM His Highness Sheikh Suroor bin Mohammed Al Nahyan visited the Barakah Nuclear Power Plant in Al Dhafra Region on Wednesday. Sheikh Suroor was welcomed by Ahmed Mohammed Al Rumaithi, Deputy CEO of the Emirates Nuclear Energy Corporation, ENEC, and several of the plant’s employees. At the start of his tour, Sheikh Suroor was briefed about the ...

Dubai / Emirates Business Emirates Skywards, the award-winning loyalty programme of Emirates airline, has reached 20 million members. To celebrate this major milestone, Emirates Skywards will be celebrating with its members. Those travelling from Dubai on Emirates flights during the week beginning March 4 can look forward to little surprises at check-in, on board and in the lounges for some ...

Bloomberg Chinese billionaire Li Shufu’s Geely Group structured the purchase of its 7.3 billion-euro ($9 billion) stake in Daimler AG through complex derivative transactions that allowed the buyer to build a large equity holding while limiting the risks, people with knowledge of the matter said. Geely entered into a so-called collar trade for the entire stake, making this the largest ...

Bloomberg A US-based cancer detection startup backed by the world’s two richest men is planning an initial public offering in Hong Kong, people with knowledge of the matter said, bolstering the Asian financial centre’s push to start attracting biotech listings. Grail Inc. is working with advisers on the proposed share sale, the people said, The firm may seek to raise ...

Bloomberg Prime Minister Theresa May is preparing to reject the European Union’s draft Brexit deal when it’s published, a senior official said, as her government steps up its fight with the bloc over the terms of Britain’s departure. With just three weeks left to agree on the Brexit transition phase, the EU will unveil a legal text that’s likely to ...

Bloomberg Accor SA plans to buy back as much as 1.35 billion euros ($1.65 billion) of shares over the next two years after the hotel operator agreed to sell a majority stake in its property business. Saudi Arabia’s Public Investment Fund, Singapore’s GIC Pte sovereign-wealth fund, Credit Agricole Assurances, Amundi SA, Colony NorthStar Inc. and other investors joined forces to ...

Bloomberg Puerto Rico faces a “dangerous financial dilemma” because of the US Treasury Department’s delay in providing billions of dollars of disaster relief needed to help it recover from the wreckage caused by Hurricane Maria, the island’s governor said in a letter to Senate and House leaders. Treasury’s “misguided delay and policy decisions contrary to Congressional intent” for the community ...

Bloomberg As Washington and Seoul try to maintain a unified front against North Korea, the case of two cargo ships shows how Kim Jong Un’s regime keeps finding ways to evade increasingly tough international sanctions aimed at halting its nuclear weapons program. Both vessels have gone through repeated changes of names and owners, part of an international shell game that ...