ABU DHABI / WAM The Ministry of Finance (MoF) has announced the cancellation of economic substance reporting requirements for companies for financial years ending after December 31 2022, following Cabinet Decision No (98) of 2024, which amends certain provisions of Cabinet Decision No (57) of 2020 on economic substance requirements. This amendment aligns with the implementation of the UAE’s federal …

RAS AL KHAIMAH / WAM RAK Properties on Monday announced a strategic deal with Commercial Bank of Dubai (CBD), one of the leading banks in the UAE, to arrange an AED2 billion financing facility. The syndicated long term financing facility will support RAK Properties’ ambitious growth trajectory, as well as boost the development of green buildings in the region. The …

URUMQI / WAM The Emirates News Agency (WAM) is taking part in the 6th World Media Summit, which began on Monday in Urumqi, capital city of northwest China’s Xinjiang Uygur Autonomous Region. Co-hosted by Xinhua News Agency and the Xinjiang regional government, the summit is being held under the theme “Artificial Intelligence and Media Transformation.” Participants from various countries highlighted …