ABU DHABI / WAM Standard & Poor’s has forecast Abu Dhabi GDP to rise to AED850 billion and AED890 billion at current prices in 2017 and 2018 respectively, attributing the growth to the momentum witnessed by the oil and non-oil sectors since the beginning of this year. The credit ratings agency expected the emirate’s per capital GDP to amount to ...

DUBAI / WAM Paul Drum, Head of Policy at CPA Australia and an expert in tax law, said that it is anticipated that around 5,000 finance and accounting jobs will be created within the GCC region with the introduction of Value Added Tax (VAT). In a workshop at the University of Wollongong in Dubai (UOWD), on the new tax law, ...

Dubai / Reuters Dubai Islamic Bank (DIB), the United Arab Emirates’ largest sharia-compliant lender, posted a 26 percent increase in third-quarter net profit on Wednesday as higher income from Islamic financing and investing offset a rise in impairment charges. The bank made AED1.11 billion ($302.2 million) in the three months to September 30, it said in a statement. This compares ...