Tuesday 16 October 2018

IMF cuts growth forecasts amid US-China trade tensions

The International Monetary Fund (IMF) cuts its global growth forecasts as trade tensions between the US and trading partners have started to hurt economic activity worldwide, reported CNBC. The global economy is now expected to grow at 3.7 per cent this year and next year - down


Dubai non-oil sector growth hits 5-month low

Growth in Dubai’s non-oil private sector ended the third quarter on a weaker footing, with the latest expansion being the slowest since April, according to the latest Emirates NBD Dubai Economy Tracker. A contraction in employment and softer output growth contributed to the


500 experts attend Dubai Investment Week

About 500 senior government officials and international investors among other experts took part in Dubai Investment Week 2018 that opened yesterday (October 8) in the Emirate. Inaugurated by Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, the event is ho


ICC, GCD in partnership to boost trade register

The International Chamber of Commerce (ICC) Banking Commission has signed an agreement with Global Credit Data (GCD), an association owned by banks to strengthen analysis within the market-leading ICC Trade Register. The ICC Trade Register is one of the few comprehensive sources


Alliance to spur funding of smart green cities

The World Green Economy Organization (WGEO) and the Global Green Growth Institute (GGGI) have signed a partnership agreement in Dubai, UAE to fast-track green investments into bankable smart city projects. The joint initiative makes it possible for smart green cities and sustaina


ADX lists Aldar Investments’ new sukuk

Abu Dhabi Securities Exchange (ADX) together with Aldar Properties rang the market opening bell to celebrate the listing of Aldar Investments’ new sukuk, marking the first corporate sukuk ever to be listed on the exchange. The sukuk, which was raised at a profit rate of 4.7


Deloitte to hold VAT seminars

Deloitte, a leading financial advisory firm, will hold a new series of tax seminars in Bahrain this month covering Value Added Tax (VAT) fundamentals and the best approach for getting up to speed on key aspects.   The seminars will help businesses reach day one


Dubai to offer digital currency payments

Citizens and residents of Dubai will be able to make digital payments for school fees, bills and retail purchases with a stable, digital currency after a partnership between blockchain payment provider Pundi X, Ebooc Fintech & Loyalty Lab and emcredit - Dubai's Credit Bureau.


UAE increases annual spending by 15.6pc

The UAE adopted a general expansionary fiscal policy during the first quarter of 2018 and increased its overall annual spending by 15.6 per cent due to the recovery in oil prices, which led to increased proceeds from petroleum-based products. The recovery was also driven by a 21.


Bahrain to roll out VAT from January 2019

Bahrain's parliament has approved the implementation of value added tax (VAT), at the rate of five per cent, effective from January 1, 2019, media reports said. Lawmakers on Sunday voted on VAT implementation behind closed doors during an extraordinary session.

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