DUBAI / Emirates Business Tax authorities in GCC are starting to use sophisticated digital platforms that require taxpayers to submit data in real time or near-real time prompting firms to enhance their digital capabilities. This is changing the way businesses collect, format and report tax information, and accelerates reporting, filing obligations. Sherif El-Kilany, MENA Tax Leader at EY said, “The ...

Bloomberg Damac Properties Dubai Co. hired banks including Barclays Plc and HSBC Bank Plc for a possible sale of US dollar-denominated Islamic bonds, according to people familiar with the matter. The second-largest listed real estate developer in Dubai is expected to hire more banks to arrange the debt sale, which may happen as soon as this month, said the people, ...

Bloomberg US President Donald Trump didn’t just propose a summit meeting to Vladimir Putin when he called the Russian leader last month. He invited him to the White House, according to the Kremlin. “When our presidents spoke on the phone, Trump suggested having the meeting in Washington at the White House,” Kremlin foreign policy aide Yuri Ushakov told reporters on ...

Bloomberg The failure of President Donald Trump and Democratic lawmakers to strike a deal on young undocumented immigrants puts the divisive issue into the middle of some hotly contested campaigns for November’s midterm elections — ones which could tip control of Congress. A relatively small number of people are affected personally by the Deferred Action for Childhood Arrivals program that ...

Bloomberg Israel threatened to use greater force to quell violent Palestinian protests along the Gaza Strip border, rejecting allegations it used excessive firepower against demonstrations that left at least 16 Palestinians dead. The protests, which Israel estimated drew 40,000 people, were the first of six weeks of planned anti-Israel actions meant to highlight the Palestinians’ plight as refugees. Israel said ...

Bloomberg North Korea has threatened to go to war over broadcasts across its militarised border that included the K-pop songs of South Korean bands like Red Velvet. Kim Jong-un was clapping along and posing for pictures with the music group. Kim’s surprise appearance at a rare pop concert in Pyongyang was the North Korean leader’s latest diplomatic overture as he ...

Abu Dhabi / WAM The Abu Dhabi Police (ADP), has warned the public about fraud messages on social media applications, such as Whatsapp, which imitate trademarks and trusted websites, with the aim of stealing personal information, such as usernames, passwords, credit card numbers and other information that may lead to problems for users, who are required to report these crimes ...

Dubai / WAM Dubai Financial Market (DFM), on Monday announced that EFG Hermes Brokerage has become the first member that receives a DFM accreditation to provide the Allocation Account Service to its client base. The DFM launched this new service recently in a pioneering step amongst regional markets, as part of its efforts to reinforce its business framework for the ...

Ajman / WAM The Ajman Chamber of Commerce of Industry organised a panel discussion, titled, ‘Challenges Facing SMEs’. Citing statistics from the Khalifa Fund for Projects Development, the panel highlighted the fact that the small and medium-sized enterprises (SMEs), constitute around 94 percent of the total number of companies in the UAE and approximately 86 percent of the labour force, ...

Tokyo / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, met Hiroshige Seko, Japanese Minister of Economy, Trade and Industry, during his current official visit to Japan. During the meeting, the two sides discussed bilateral relations between the UAE and Japan and ways of boosting and developing them in the economic, investment ...