DUBAI / WAM The Federal Tax Authority (FTA) has announced its recent international accreditation in the field of innovation. The FTA has been honoured with the prestigious title of “Certified Government Innovative Organisation – Advanced Level” by the esteemed Global Innovation Institute (GInI), a specialised entity in innovation assessment for organisations, granting professional certifications, accreditations, and membership in the field …

ABU DHABI / WAM ADQ, an Abu Dhabi-based investment and holding company, has unveiled plans to invest US$35 billion in Egypt. ADQ will acquire the development rights for Ras El-Hekma for $24 billion to develop the region into one of the largest new city developments by a private consortium. As part of this investment, ADQ will also convert $11 billion …

ABU DHABI / WAM The aggregate capital and reserves of banks operating in the UAE increased 13.3 percent, reaching AED481.5 billion by the end of November 2023 compared to AED424.9 billion at the end of the same period of 2022, according to the Central Bank of the UAE’s (CBUAE) statistics. According to the CBUAE monthly report, the aggregate capital and …