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Tuesday , October 17 2017
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UAE

Dubai Customs partners with OSN and launches copycat combat

dubai customs

DUBAI: Dubai Customs in partnership with OSN; the direct broadcast satellite provider in the Middle East and North Africa launched the first intellectual property educational electronic game. The new game uses virtual reality to raise awareness amongst the youth and kids around the importance of combating illegal counterfeit and pirated products. Ahmed Mahboub Musabih, Director of Dubai Customs and Martin ... Read More »

Dubai’s electronics trade hit Dh134.5b in 6 months this year

TRADE

DUBAI: Dubai – a leading business hub in the region – saw a significant jump in its electronics and information technology trade in the first half of this year. Official records show that the emirate’s electronics trade reached Dh134.5 billion in the first six months of 2017. These amounted to Dh86.8 billion for imports against Dh47.7 billion for exports and ... Read More »

Abu Dhabi Ports reveals new investment opportunities in KIZAD

abu dhabi ports

ABU DHABI: Abu Dhabi Ports, the master developer, operator and manager of commercial and community ports within the emirate of Abu Dhabi, as well as Fujairah Terminals and Khalifa Industrial Zone Abu Dhabi (KIZAD), announced new special terms for Saudi nationals looking to invest in Khalifa Industrial Zone (KIZAD), which includes discounts on rent of warehouses, industrial land, offices and ... Read More »

Dubai Chamber hosts Prince Guillaume in effort to boost trade ties

dubai chamber

DUBAI: The Dubai Chamber of Commerce and Industry hosted a high-level delegation from Luxembourg headed by H.R.H. Prince Guillaume, Hereditary Grand Duke of Luxembourg at its premises today as part of its efforts to strengthen trade ties with the European country. The delegation from Luxembourg included H.R.H. Princess Stephanie, Hereditary Grand Duchess of Luxembourg; Etienne Schneider, Deputy Prime Minister, Minister ... Read More »

Saudi, UAE to boost cooperation in trade and investments

COOPERATION

RIYADH: The UAE and Saudi Arabia are intensifying cooperation to boost investment and trade with select initiatives identified, top government officials said on Wednesday. Exemptions will be given to Saudi firms investing in Abu Dhabi to boost cooperation between the two countries. The volatility in oil prices and the political situation globally is pushing both countries to diversify their economies ... Read More »

Dubai Chamber hosts Luxembourg Crown Prince in effort to boost trade ties

dubai chamber

DUBAI: The Dubai Chamber of Commerce and Industry hosted a high-level delegation from Luxembourg headed by HRH Crown Prince Guillaume of Luxembourg at its premises today as part of its efforts to strengthen trade ties with the European country. The delegation from Luxembourg included HRH Crown Princess Stéphanie of Luxembourg, H.E. Etienne Schneider, Deputy Prime Minister and Minister of Economy ... Read More »

UAE, Bahrain sign MoU to improve air links

Germany-Switzerland sign arbitration agreement for tax disputes

DUBAI: The UAEs Civil Aviation Authority has signed a memorandum of understanding (MoU) with their counterparts in Bahrain to improve transport services between the two countries. Following a round of negotiations in Manama, Mohammed Thamer Al Kaabi, under-secretary of Bahrain’s Ministry of Civil Aviation Affairs, said that the draft agreement “represents a qualitative leap in the leap in the organisation ... Read More »

Residential rents in Dubai continue to drop in Q3

Crashing chart

DUBAI: Residential rents in Dubai continued their low single-digit declines in the third quarter of the year, according to a new report issued by research agency JLL. Numerous residential buildings even within the prime areas such as Downtown and Marina are seeing increased vacancies, it stated, citing anecdotal evidence. Hence tenants have been able to renegotiate their rents downwards by ... Read More »

Dubai Chamber to target African business

DUBAI CHAMBER

DUBAI: As the Dubai Chamber of Commerce and Industry will work with Expo 2020 Dubai, the region will witness collaboration between Dubai and African businesses at the fourth Global Business Forum (GBF) during the African summit. During the forum held from November 1 to 2, Dubai Chamber and Expo 2020 Dubai will team up to initiate new channels of communication ... Read More »

UAE banking sector outlook to remain stable

uae central bank

DUBAI: Moody’s Investors Service has maintained its outlook for the UAE’s banking sector at stable, with faster economic growth in 2018 expected to support the credit growth in 2018. According to Moody’s analyst Mik Kabeya, credit growth of approximately five percent is forecast for 2018, after a forecast lower growth of 2 percent in 2017, compared to 5.8 percent in ... Read More »

Abu Dhabi Ports buys three new tug boats

ABU DHABI PORTS

ABU DHABI: Abu Dhabi Ports, the master developer, operator and manager of commercial and community ports within the emirate of Abu Dhabi, as well as Fujairah Terminals and the Khalifa Industrial Zone Abu Dhabi (KIZAD), has announced the purchase of three new tug boats during the Sea Trade Offshore Marine and Workboats Middle East 2017, SOMWE, held at the Abu ... Read More »

Union Coop receives Dubai Chamber CSR Label for fifth year in a row

dubai chamber

DUBAI: Union Coop received the Dubai Chamber Corporate Social Responsibility (CSR) Label for the fifth year in a row on Sunday. The CSR Label recognises the distinguished efforts of Union Coop in the field of corporate social responsibility and its commitment to developing its practices in this field. It also celebrates the Union Coop initiatives to support vital sectors via ... Read More »

Bank salesman, friend defraud bank of Dh635,000 in Dubai

BANK

DUBAI: A bank salesman and his friend allegedly defrauded his workplace of Dh635,000 after submitting forged documents needed to obtain a loan and a credit card. The 28-year-old Indian salesman is believed to have helped a runaway Pakistani, 37, to open a bank account and get a credit card after presenting a fake salary certificate. The duo also forged a ... Read More »

Dubai Chamber to boost trade ties with Panama

DUBAI CHAMBER

DUBAI: The Dubai Chamber of Commerce and Industry is aiming to boost bilateral trade ties with Panama, after signing a memorandum of understanding with the Panamanian Chamber of Commerce, Industry, and Agriculture. The memorandum focuses on promoting business opportunities within Panama’s banking and logistics sectors, encouraging knowledge sharing in key areas, and cooperating to overcome business challenges with the aim ... Read More »

Abu Dhabi Ports exploring further partnerships with Chinese investors in free zone

abu dhabi ports

ABU DHABI: Abu Dhabi Ports is in discussions with Chinese investors with the aim of attracting further investment from the country to the Khalifa Port Free Trade Zone, in line with the emirate’s economic diversification plans. The ports operator, which runs the capital’s US$7 billion Khalifa Port, is courting Chinese investors after signing a 50-year agreement in July with Chinese ... Read More »

Sharjah Chamber promotes trade, investment with Mexico

SCCI

DUBAI: The Sharjah Chamber of Commerce and Industry (SCCI) held a meeting on Monday with the Mexican Ambassador, in order to discuss ways to developing economic and investment relations between the UAE and Mexico, the chamber said in a statement on Monday. The meeting was also intended to discuss how to benefit from the agreements signed between both sides. Abdallah ... Read More »

DP World likely to develop two deep sea ports in eastern India

Dubai Ports World, DP World

DUBAI: Dubai Ports World of the United Arab Emirates, one of the world’s largest container terminal operators, is said to have expressed interest to develop two deep sea ports in eastern India at Rajpur and Kulpi in West Bengal state. According to local reports, Amit Mitra, Finance, Industry and Commerce Minister of West Bengal, broke the news to journalists after ... Read More »

Dubai Customs Consultative Council discusses added and selective taxes

dubai customs

DUBAI: Ahmed Mahboob Musabih, Director of Dubai Customs highlighted the important relationship between Dubai Customs and its clients and said the Department considers them as partners in decision making and listening to them and following their positive suggestions is a priority.  In the 21st meeting of Dubai Customs Consultative Council, Musabih pointed out that continuous development is a necessity for ... Read More »

UAE fuel prices set to increase on Sunday

FUEL PRICES

DUBAI: UAE petrol prices are set to increase from Sunday, following the Ministry of Energy’s latest release of prices for October. The government department said the price of Super 98 will rise 5 percent to AED2.12, up from AED2.01. Special 95, the most popular fuel type, will rise by 6 percent to AED2.01 up from AED1.90. The price of E-Plus ... Read More »

UAE tax to double tobacco, energy drink prices

Sales-Tax

DUBAI: Tobacco and energy drink prices are set to double in the United Arab Emirates, which is imposing steep excise taxes to help ease a budget shortfall caused by low oil prices. Khaled al-Bustani, director general of the newly established UAE Federal Tax Authority, said on Wednesday that the 100-percent tax would be introduced from October 1. Prices of other ... Read More »