finance & economy

August 19, 2019

A large number of Chinese people are investing in Dubai's real estate market due to strengthening of ties between the UAE and China and implementation of the Belt and Road Initiative and other developments, according to a property consultant with Coldwell Banker UAE.

Xiaoyun Du said that current trends in both the Chinese stock market and its property market, both of which have been experiencing rapid growth in recent years, have encouraged upper-middle class Chinese nationals to invest in overseas markets, including in Dubai. Depreciation of the yuan, as well as the high rental yields on offer in Dubai, are other factors that are influencing"...

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August 19, 2019

Dubai’s Roads and Transport Authority (RTA) has completed 65 percent of construction works of the Al Qudra-Lehbab Roads Intersection Project.

The project includes the construction of two bridges on the collector road as well as ramps to serve right, left and U-turns. Works also cover widening connecting streets, and a cycling bridge in addition to lighting works, rainwater drainage systems, and utility lines.

Mattar Al Tayer, director general and chairman of the board of executive directors of the RTA, said: “Lehbab Road is a key traffic corridor offering"...

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August 19, 2019

Dubai has once again proved its resilience despite a slowdown in global markets as investors posed trust in the emirate's growing economy, which continued to enhance its appeal as a destination for sustainable business growth.

The latest report issued by the Business Registration and Licensing (BRL) sector of Dubai's Department of Economic Development (DED) on Saturday showed that 14,737 new licences were issued during the first half of 2019 compared to 11,059 in the same period last year, reflecting a year-on-year growth of 33.25 per cent.

The commercial sector"...

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August 19, 2019

In line with its focus on enhancing sustainability and promoting Environmental, Social and Governance best practices among listed companies and other stakeholders, Dubai Financial Market (DFM) has successfully contributed to the improvement of corporate governance practices in the United Arab Emirates through its partnership with the Hawkamah Institute for Corporate Governance. In 2017, DFM and Hawkamah signed an agreement to collaborate towards corporate sector reform in Dubai and the UAE through improving governance practices of listed companies. Hawkamah has since then trained over 100 Company Secretaries, and briefed the boards of more than 65% of DFM-listed companies on the role of boards in driving good corporate"...

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August 19, 2019

Good hygiene is an essential element for a long healthy life, and we must be vigilant at all times and in all settings to ensure we are taking good care of ourselves and our families. Fine Hygienic Holding, one of the world’s leading manufacturers of hygienic paper products, is stepping forward as a trusted ally in the battle for good hygiene, and is launching a bold new campaign to spread awareness about clean, healthy living.

Highlighting its recent awards and endorsements from prominent global hygiene organizations, Fine is undertaking a bold transformation that begins with a major packaging redesign that focuses on the best qualities"...

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August 19, 2019

Sime Darby Oils (SDO) and Dr. B.R. Shetty owned Abu Dhabi Vegetable Oil Company (ADVOC), are pleased to announce they have entered into a strategic partnership to market oils and fats products in the Middle East and North Africa (MENA) region.

Via the partnership, SDO and ADVOC will operate in the region as a single sales and marketing team, focusing on basic and specialty fats (including bakery fats, shortening, industrial margarines, spread fats, dairy replacers, confectionary fats and cocoa butter substitutes and replacers). This will benefit regional customers by providing them access to the companies’ combined sales expertise, production"...

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August 18, 2019

The Department of Economic Development's Business Registration and Licensing (BRL) section issued 14,737 new licences during the first half of 2019.

Of the licences issued, 52 per cent were commercial, 45 per cent professional, 2 per cent tourism-related and 1 per cent related to industry, the DED said.

The 'Business Map' digital platform of DED, designed to illustrate the economic ecosystem of Dubai by providing data on each licence category including the number issued and distribution of licences on a monthly basis, saw 81 business licences being issued"...

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August 18, 2019

The 24.4 metre-long by 7 metre-high skeleton, which dates back to the Jurassic period, will be offered at a starting value of AED14.6 million ($3.97 million) and bids will end on August 25, Emirates Auction said in a statement.

The skeleton, which was installed at the Dubai Mall in 2014, would have weighed the equivalent of five elephants in its prime and was one of the long-necked herbivorous dinosaurs with a tail tapering to a long, thin whip-like end to defend itself against predators.

The dinosaur belongs to the Diplodocus longus variety and the displayed bones"...

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August 18, 2019

(WAM) -- The Business Registration and Licensing, BRL, sector in the Department of Economic Development, DED, Dubai, issued 14,737 new licences during the first half of 2019 as the emirate continued to enhance its appeal as a destination for sustainable business growth.

Among the new licences, 52 percent were Commercial (7,648), 45 percent Professional (6,722), two percent Tourism (262), and one percent was related to Industry (105).

The 'Business Map' digital platform of DED, which seeks to reflect the economic ecosystem of Dubai by providing vital data on"...

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August 18, 2019

The Federal Tax Authority has launched a new electronic system for registering excise goods as part of its plans to continuously develop the tax system as a whole, and excise tax procedures in particular.

In a press statement on Saturday, the FTA explained that the new system offers accurate and transparent procedures for registering excise goods with clear guidelines and standards in addition to the new reporting requirements related to excise tax returns and declarations.

The launch is aligned with the UAE leadership's directives to enhance the country's"...

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