ABU DHABI / WAM The Federal Tax Authority (FTA) has asserted that all businesses subject to Value Added Tax (VAT) and Excise Tax must display prices of goods and services inclusive of tax in order to avoid administrative penalties. The authority called on consumers and service recipients in the UAE to be aware of their rights, noting that prices displayed ...

DUBAI / Reuters Saudi Arabia is increasingly looking to just float oil giant Saudi Aramco locally as plans for an initial public offering (IPO) on an international exchange such as London or New York hang in the balance, sources close to the process said. The kingdom is counting on being awarded emerging market status by index complier MSCI in June ...

ABU DHABI / WAM National Central Cooling Company (Tabreed) announced the acquisition from Aldar Properties (Aldar) of 50% of the shares in S&T Cool District Cooling Company (S&T), a major district cooling provider on Reem Island in Abu Dhabi. Tabreed will own 100% of the company following completion of the transaction, subject to relevant regulatory approvals. S&T’s district cooling plant ...