Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, received a number of Emirati well-wishers on the occasion of the Holy Month of Ramadan. He exchanged greetings with them and wished more prosperity and security for the UAE under the leadership of President ...

DUBAI / Emirates Business Damac Properties Dubai announced financial results for the first quarter of 2019, reporting total revenue of AED 896 million, with booked sales reported at AED 1.2 billion, 15% higher than AED 1 billion recorded in Q4 2018. Gross profits for the same period stood at AED 242 million reflecting gross profit margins of 27%. Total assets ...

Dubai / WAM His Highness Lt General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior, has chaired the first meeting of the Department of Behavioral Rewards of the Ministry of Possibilities, which was launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai ...

Abu Dhabi / Emirates Business “The rates of compliance with tax laws and procedures have increased exponentially among all taxable businesses,” said His Excellency Khalid Ali Al Bustani, Director General of the Federal Tax Authority (FTA), in a press statement issued by the Authority to mark 500 days of Value Added Tax (VAT) in the UAE, which went into effect ...

Abu Dhabi / WAM The Emirates Red Crescent (ERC), is intensifying its Ramadan programmes and projects this year in 83 countries worth AED21,810,000 that benefit 1,435,966 people. It also launched many Ramadan programmes related to Ramadan Iftar, Zakat Al Fitr, and Eid clothes in countries suffering from major humanitarian crises and wars. The ERC is supporting Syrian refugees in countries ...

Dubai / WAM DMCC, a Free Zone for commodities trade and enterprise, on Wednesday announced its collaboration with TradeAssets, the first blockchain-powered trade finance e-marketplace of its kind for banks. Through its collaboration with DMCC Tradeflow, a dedicated flexible and customised online platform for registering possession and ownership of commodities in the UAE, TradeAssets will gain access to a larger ...

Bloomberg Billionaire Wang Jianlin is setting his sights back on China after government scrutiny of his group’s overseas deals resulted in an end to a global expansion spree. Wang’s Dalian Wanda Group Co unveiled plans to spend $11.6 billion in the northeastern city of Shenyang, the biggest of the mainland investments it announced in the past six months. The money ...

Bloomberg Tencent Holdings Ltd’s quarterly earnings beat estimates, boosted by gains on investments, giving shareholders much-needed assurance the Chinese gaming behemoth is bound for a revival. Net income rose 17 percent to 27.21 billion yuan ($4 billion) in the three months ended in March compared with the 19.4 billion-yuan average of analysts’ estimates. Revenue climbed 16 percent, about a third ...

Bloomberg Tata Sons Ltd is set to transfer all its branded food businesses to Tata Global Beverages Ltd from Tata Chemicals Ltd, according to people with knowledge of the matter, as India’s biggest conglomerate streamlines its corporate structure. Tata Global Beverages will buy all food brands and give shares in return to Tata Chemicals, the people said asking not to ...

Bloomberg Masayoshi Son isn’t losing his appetite for backing money-losing startups. Son’s SoftBank Vision Fund is leading an investment round of more than $200 million in Grofers, the Indian online grocery startup said in a statement. Tiger Global and Sequoia Capital and new investor KTB joined SoftBank in the deal, which pushes the company’s valuation to almost $1 billion even ...