ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) on Wednesday announced an AED5.1 billion ($1.4 billion) investment to upgrade and expand its Bu Hasa field that will increase crude oil production capacity to 650,000 barrels per day (bpd). This is an important step towards delivery of Adnoc’s 2030 smart growth strategy that seeks to increase its crude ...

DUBAI / WAM The Federal Tax Authority (FTA) announced digital system for tax refunds for tourists scheme will be ready to issue and process VAT refund claims for eligible tourists to recover tax incurred on their purcha-ses as of Sunday, November 18, at Abu Dhabi, Dubai and Sharjah airports. The authority revealed preparations are underway for phase 2 of the ...

Emirates Business The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, has initiated world’s first cross-border testing of fintech digital sandbox connectivity with Asean Financial Innovation Network (AFIN) between Abu Dhabi and Singapore. This is a continuation of ADGM’s first announcement in September to launch its fintech digital sandbox. To ...