ABU DHABI / WAM The UAE Cabinet has adopted a decision to implement the value added tax (VAT) refund system for tourists, which will integrate between retail outlets with tax refund points in line with the government’s efforts to achieve the efficient implementation of the tax system in the UAE. According to a press statement, the new tax refund system ...

Dubai / WAM The Commercial Bank of Dubai (CBD) on Wednesday reported its financial results for the first half of 2018. H1 profit was AED 561 million, 68.7% higher on the back of a 1.1% increase in operating income and a 5.6% decline in operating expenses. The impairment allowances meanwhile decreased by 35.5%. Operating income increased by 1.1% to AED ...

Bloomberg China vowed to fight back against the Trump administration’s plans to impose tariffs on an additional $200 billion in Chinese goods, escalating a trade war between the world’s two biggest economies. Beijing described the latest US move as “totally unacceptable” bullying, and urged other countries to join China to protect free trade and multilateralism. China promised to lodge complaints ...