ABU DHABI / WAM The Ministry of Finance has issued ministerial decision No 120 of 2023 on transitional rules for corporate tax, providing guidelines  for adjusting a taxable person’s opening balance sheet under the corporate tax law. Younis Haji Al Khouri, Undersecretary of the Ministry of Finance, said, “Transitional rules for corporate tax provide important clarifications for businesses that need ...

RAS AL KHAIMAH / WAM For the second year in succession, Ras Al Khaimah’s credit rating has been affirmed at ‘A’ with a Positive Outlook, according to international credit rating agency Fitch. US-based Fitch Ratings, one of the “big three” credit ratings agencies, stated that the Emirate’s positive outlook reflected strong foundations of “solid fiscal metrics; the benefits of its ...

BLOOMBERG US equity futures wavered as strong economic data raised the possibility on more interest rate rises, dampening some of the optimism about a potential debt-ceiling deal. Contracts on the S&P 500 traded flat, while the tech-heavy Nasdaq 100 ceded some gains. Treasury yields climbed after the data, reversing earlier declines. A report on consumer spending painted a picture of ...