VAT could be coming to the UAE by 2018, according to finance officials. Gulf States are currently agreeing on key issues to implement value added tax, with certain sectors such as healthcare, education and social services being exempt. 94 food items will also be excluded. Marios Maratheftis, Global Chief Economist at Standard Chartered, says it’s a step in the right direction……
Abu Dhabi partners with Boehringer Ingelheim to advance precision medicine
The Department of Health - Abu Dhabi has signed a strategic partnership with global biopharmaceutical company Boehringer Ingelheim to accelerate research into precision medicine using the emirate's advanced genomics capabilities.
Saudi Aramco resumes oil loading at Ras Tanura after 4-month halt
Saudi Aramco resumed oil loading on Friday at its Ras Tanura terminal in the Gulf after a near four-month halt, shipping data from LSEG showed.
Summer Davos ends with call to boost innovation and growth
Global leaders have called for greater investment in innovation, skills and technology to drive economic growth as the World Economic Forum's Annual Meeting of the New Champions concluded in Dalian, China.
ADNOC and partners to develop mega gas project
Abu Dhabi's Supreme Council for Financial and Economic Affairs (SCFEA) has awarded the concession for the development and production of the Bab Gas Cap project to ADNOC and a group of international energy partners.
Bank fined AED 20 million for repeated regulatory failures
The UAE Central Bank (CBUAE) has fined a branch of a foreign bank AED 20 million for repeated failures in its anti-money laundering and counter-terrorism financing controls.
The UAE's National Emergency, Crisis and Disaster Management Authority (NCEMA) says a technical issue in the early warning system has been resolved after it led to the sending of incorrect alert messages.
His Highness Sheikh Abdullah bin Zayed Al Nahyan, UAE Deputy Prime Minister and Minister of Foreign Affairs, has held a phone call with Iran's Foreign Minister Abbas Araghchi to discuss the latest regional developments.
Minister of State, Lana Nusseibeh, has underlined that "Gulf consultation, inclusion and participation is a necessary condition" in Iran peace talks during a Joint Ministerial Meeting of the GCC and the US in Bahrain.
