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$1.9bn housing plan for Emiratis okayed

ABU DHABI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has approved the construction of 7,270 housing units for Emiratis across different parts of the UAE at a total cost of AED7.2 billion ($1.9 billion) to be delivered up until 2021. Chairing a cabinet meeting on ...

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FTA: VAT is part of final price

ABU DHABI / WAM The Federal Tax Authority (FTA) said that the final reduced prices for goods on promotional offers must include the 5 percent Value Added Tax (VAT), which is to be calculated as included in the new price after reductions by the sales outlets or service providers themselves. In a new awareness message targeting consumers and service recipients ...

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Dubai’s Al Khaleej strikes deal for $1bn Egypt beet sugar mill

DUBAI / Reuters Dubai’s Al Khaleej Sugar Refinery has agreed to build a major agro-industrial complex to produce beet sugar under a deal signed with the Egyptian government, the world’s largest port-based sugar refinery said on Sunday. The project, named Al Canal Sugar, will be located only about 200 km (125 miles) from its market, Jamal al-Ghurair, managing director of ...

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