Dubai / Reuters The United Arab Emirates economy is expected to recover gradually next year without suffering a significant blow to growth from the introduction of a 5 percent value-added tax in January, a senior International Monetary Fund official said. Natalia Tamirisa, IMF mission chief to the Ara b world’s second biggest economy, said Dubai’s spending on preparations to host ...

ABU DHABI / Reuters Abu Dhabi state investor Mubadala has made 15 to 16 investments in technology firms as part of a partnership with SoftBank Group of Japan, deputy group chief executive Waleed al-Muhairi told a conference in Abu Dhabi on Monday. Mubadala has committed $15 billion to SoftBank’s $93 billion private equity fund, the SoftBank Vision Fund, which has ...

Dubai / Emirates Business The total cash deposits placed at the UAE Central Bank surged to AED223.26 billion in 11 months, a growth of 9 percent from AED204.8 billion by end of October. In the meantime, withdrawals from the Central Bank amounted to AED222.969 billion in 11 months, an increase of 11.3 percent from AED206.6 billion during the per- iod ...