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ABU DHABI / WAM The Ministry of Finance has issued ministerial decision No 120 of 2023 on transitional rules for corporate tax, providing guidelines  for adjusting a taxable person’s opening balance sheet under the corporate tax law. Younis Haji Al Khouri, Undersecretary of the Ministry of Finance, said, “Transitional rules for corporate tax provide important clarifications for businesses that need ...

RAS AL KHAIMAH / WAM For the second year in succession, Ras Al Khaimah’s credit rating has been affirmed at ‘A’ with a Positive Outlook, according to international credit rating agency Fitch. US-based Fitch Ratings, one of the “big three” credit ratings agencies, stated that the Emirate’s positive outlook reflected strong foundations of “solid fiscal metrics; the benefits of its ...

ABU DHABI / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of congratulations to President Alberto Fernández of Argentina on the occasion of his country’s National Day. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy ...

ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a written message to Katalin Novák, President of Hungary, with an invitation to the COP28 climate conference to be held at Expo City Dubai in November. The invitation was delivered by Saud Hamad Al Shamsi, UAE ambassador to Hungary, to Kristóf Altusz, diplomatic advisor ...

ABU DHABI / WAM Anwar Gargash Diplomatic Academy (Agda), signed a memorandum of understanding (MoU) with Geneva Centre for Security Policy, to solidify its partnership, building upon the successful hosting of the Processes of International Negotiation (PIN) Conference in Abu Dhabi. The MoU was signed on Thursday by Nickolay Mladenov, Director-General of Agda and ambassador Thomas Greminger, Director of the ...

ABU DHABI / WAM Adnoc on Thursday announced the successful completion of the bookbuild and public subscription process for the initial public offering (IPO) of Adnoc Logistics & Services (Adnoc L&S), a mission-critical global energy maritime logistics leader and critical enabler of Abu Dhabi and the UAE’s supply of energy to the world. The offering of 19 percent of the ...

NEW DELHI / WAM Abdullah bin Touq Al Marri, Minister of Economy participated in a session titled “Is Minilateralism the Future of Global Trade?” as part of the annual Confederation of Indian Industry (CII) conference 2023 held in New Delhi. The session was attended by Sanjeev Bajaj, President of CII; Chandragit Banerjee, Director-General of CII; and a number of UAE ...

ABU DHABI / WAM Kezad Communities, a real estate investment company specialising in staff residential solutions, and Abu Dhabi Energy Services (Ades), a prominent energy efficiency capacity builder and a subsidiary of Abu Dhabi National Energy Company (Taqa), have announced a collaboration agreement for energy efficiency projects in Abu Dhabi. The signing ceremony was attended by Ahmed Mohammed Al Rumaithi, ...

ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of congratulations to King Abdullah II of Jordan on the occasion of his country’s Independence Day, which is marked on May 25. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, ...

ABU DHABI / WAM Chimera Capital, an Abu-Dhabi-based investment management firm, announced the launch of the Chimera S&P China HK Shariah Exchange Traded Fund (ETF). The fund is a physical, in-kind, liquid, and fully fungible exchange-traded fund (ETF) that will track the performance of Shariah-compliant Chinese equities listed on the Hong Kong Stock Exchange (HKEX). The initial offering period will ...