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PROJECTS IN CHINA
Aramco, Shandong Energy plan downstream collaboration
The Saudi Arabian Oil Company (Aramco), one of the world’s leading integrated energy and chemicals companies, and Shandong Energy Group, are exploring collaboration on integrated refining and petrochemical opportunities in China.
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AED375,000 THRESHOLD
UAE to levy 9% corporate tax on businesses
UAE businesses will become subject to the country's corporate tax from the beginning of the financial year that starts on or after June 1, 2023.
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REGULATING MARRIAGE TERMS
UAE issues new law on personal status for non-Muslims
The UAE has announced a Federal Decree-Law on Personal Status to all non-Muslim foreigners in the country, to be applied from February 1, 2023.
Top Trade News
 | Industry Sectors |
Saudi construction strongest in Mena with $1.1 trillion project pipeline
Saudi construction industry continues to lead the Mena region despite the macroeconomic conditions hitting the sector globally - with a project pipeline estimated at a whopping $1.1 trillion, said a leading real estate expert.
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Entertainment is the new retail in Riyadh, says property expert
Across Riyadh’s 25 regional malls, supermarkets and family entertainment dominate the retail scene. But of late, a significant shift has been witnessed among mall developers who are now positioning entertainment options ahead of shopping, said an expert.
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Taqa, Adnoc and Mubadala complete Masdar stake buy
Abu Dhabi National Energy Company (Taqa), Mubadala Investment Company and Abu Dhabi National Oil Company (Adnoc) have completed the acquisition of the Masdar, with plans to propel it as a global leader in clean energy and green hydrogen.
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Dubai unveils $56bn budget for 2023-25; big spend on housing
Dubai has announced a AED205 billion ($56 billion) budget for the fiscal cycle of 2023-2025, with continued focus on social, health and education. It also places top priority on housing through its major residential programme as part of a 20-year plan.
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GCC consumers ready to ‘pay more for sustainable firms’
Some 76% of GCC survey respondents agree that sustainability efforts of a company are likely to positively impact their choice in buying their products.
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Universal Carton unveils big expansion plans for RAK facility
Universal Carton Industries (UCI), a leading corrugated cardboard box manufacturing company in Ras Al Khaimah, has announced plans to expand its production capacity by threefold to 100,000 tonnes per annum to meet growing demand.
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Emirates, Air Canada expand loyalty partnership
Emirates and Air Canada have expanded their partnership to offer frequent flyer members joint loyalty programme benefits.
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Bahrain TRA teams up with top info security firm for cyber drills
Bahrain's Telecommunications Regulatory Authority (TRA) said it has successfully conducted cyber security drill for operators to test their ability to handle cyber threats, in collaboration with top information security training firm Cyber Ranges.
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Fawaz Alhokair Group goes for total rebrand, launches Cenomi
Fawaz Alhokair Group, the region’s largest vertically integrated immersive retail and lifestyle company, together with Arabian Centres and Fawaz Alhokair Fashion Retail Co has announced the launch of Cenomi.
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Japan's UD Trucks to launch new service centre in Abu Dhabi
Japanese commercial vehicle manufacturer UD Trucks is set to open its brand-new service centre at Mussafah in Abu Dhabi, in co-ordination with its distributor Al Masaood. The new facility will be able to handle 30 trucks and 12 body repairs at a time.
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Kuwaiti pharma group in deal to distribute Rosemont products
Kuwaiti pharma group Kuwait Saudi Pharmaceutical Industries Company (KSPICO) has signed a key partnership agreement with UK-based Rosemont Pharmaceuticals, that will pave way for distribution of a range of Rosemont products in the GCC and Mena region.
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Madhavan named Al Ansari Exchange brand ambassador
UAE-based Al Ansari Exchange has appointed renowned Indian actor R. Madhavan as its official brand ambassador. This comes as part of the remittance company's strategy to further enhance its brand value and identity among its customers.
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Rising inflation, falling wages threaten increased poverty: ILO
Rising inflation has caused a striking decline in real monthly wages in many countries which fell to -0.9% in H1, the International Labour Organization (ILO) said in a report, highlighting the urgent need for policies to prevent poverty and inequality.
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Madame Tussauds Dubai reveals new Taylor Swift wax figure
Madame Tussauds Dubai has announced that a wax figure of country music star turned pop queen Taylor Swift is the latest figure to join its incredible line-up of famous personalities.
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