Emirates Business The Federal Tax Authority (FTA) asserted that the digital system for the tax refunds for tourists scheme has achieved notable success since it came into effect, noting that FTA officials were present at the Abu Dhabi, Dubai, and Sharjah international airports — the ports of entry included in the first phase of the project — to verify that ...

Bloomberg Oil notched its biggest weekly loss since the depths of the last price crash, as record Saudi output and a global stock sell-off intensified crude’s free fall. Futures slid below $60 in London and ended the week down about 12 percent, the worst showing since January 2016. Traders focussed on the growing risks of a new glut of crude ...

DUBAI / WAM The Dubai Electricity and Water Authority (Dewa) awarded a AED 118 million contract to supply, fit, and commission 26.5 kilometres of water pipelines across Dubai. According to a press statement, the new project will help achieve vital ongoing projects on Dewa’s infrastructure, and increase water flow to meet demand. “This project is a part of our efforts ...