Dubai / WAM In his capacity as Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, and Prime Minister of UAE has issued Law No. 07 of 2018, establishing ‘Watani Al Emarat Foundation’ as a public entity. According to the Law, the new Foundation will replace the ‘Watani Programme’. All liabilities, commitments, assets, and responsibilities of the ...

Abu Dhabi / WAM The Federal Tax Authority (FTA), asserted that the new Cabinet Decision issued to regulate Value Added Tax (VAT), incurred by gold and diamond dealers registered with the FTA seeks to establish the adequate legislative environment and infrastructure for the gold and diamonds sector to thrive. The decision also improves cash flow among registered suppliers of gold ...

Dubai / WAM Dubai Statistics Centre (DSC), on Wednesday announced the results of its Labour Force Survey 2017. The findings of the Survey reveal that Dubai had an unemployment rate of 0.5per cent in the last year, a figure that is significantly lower than the global average. Arif Al Muhairi, Executive Director of Dubai Statistics Centre, said, “The results of the ...

Abu Dhabi / WAM HH Sheikha Fatima bint Mubarak, Chairwoman of the General Women’s Union, President of the Supreme Council for Motherhood and Childhood, and Supreme Chairwoman of the Family Development Foundation, has launched the updated version of her official website, www.motherofthenation.ae. The website was designed and developed according to the latest technological standards and will enable visitors to browse ...

Abu Dhabi / Emirates Business The UAE Organising Committee of the 24th World Energy Congress announced that Mubadala Investment Company, Abu Dhabi’s leading strategic investment company, will be a Host Sponsor for the 2019 Congress, taking place in Abu Dhabi from September 9-12. Held every three years in select international cities, the World Energy Congress is the world’s largest, longest-running ...

Bloomberg Canada’s purchase of Kinder Morgan Inc.’s embattled pipeline is good news for the oil patch, so long as it doesn’t become the norm. While the $3.5 billion Trans Mountain takeover keeps alive a project seen as critical to expanding markets for Canada’s crude and improving the price oil-sands producers get paid, it also reveals how key infrastructure projects can ...

Bloomberg Gazprom PJSC’s profit jumped to the highest in three years as natural gas sales to Europe surged. Unexpectedly cold weather from Germany to the UK boosted Russia’s gas sales into the region by 8 percent in the first three months of the year. That along with stronger prices helped lift income for the nation’s gas-pipeline monopoly. The results may ...

Bloomberg The US shale surge is crashing headlong into a barrage of bottlenecks. From West Texas pipelines to Oklahoma storage centers and Gulf Coast export terminals, the delivery system for American crude is straining to keep up with soaring production. That’s limiting the industry’s ability to take full advantage of growing worldwide demand, with US barrels forced to take an ...

Bloomberg India’s government is looking for a company to analyse social media posts to help boost nationalism and neutralise any “media blitzkrieg by India’s adversaries.” In a lengthy tender posted online, India’s Ministry of Information and Broadcasting said it wants a company to provide analytical software and a team of at least 20 professionals to “power a real time New ...

Bloomberg India has been wooing Tesla Inc. to set up a factory on its soil, but billionaire Elon Musk isn’t falling for it. At least not yet. In a tweet, the CEO of the electric-vehicle maker said a restrictive policy environment in the South Asian country is proving to be a hurdle for local production. Earlier this month, the Palo ...