The new feature forms part of the steps the FTA has taken to ensure a smooth implementation of the corporate tax law
The Saudi Industrial Development Fund supported over 100 beneficiaries through the industrial fund’s academic and advisory programmes
The country’s fiscal and debt positions strengthened in 2022 on the back of higher oil prices and budget consolidation measures
The central bank said the net foreign assets dropped to SAR1.54tn in April from SAR1.57tn the previous month
The UAE has so far concluded four CEPAs with India, Israel, Indonesia and Turkey and the first two have already come into force
H.E Liron Zaslansky, Consul General of Israel in Dubai shares her thoughts on the strong relationship between the two states and avenues for further growth
The partnership is expected to create new investment opportunities to support sustainable economic growth
The Emirati dirham was issued as the UAE’s official currency replacing a mix of international currencies which had been in circulation in the emirates
The decision aims to clarify the application of the corporate tax regime for individuals and ensures that only business income is taxed
The economies of the Gulf Cooperation Council are projected to grow by 2.5 per cent in 2023 and 3.2 per cent in 2024
The Sydney office is the second to be inaugurated in 2023 and expands the chamber’s global network to 17 representation offices
The city’s non-oil sectors witnessed significant growth of Dhs43bn in 2022 and contributed 50 per cent to the overall GDP
Economic expansion was driven by a 5.8 per cent increase in non-oil activities
The country is the UAE’s second-largest trading partner in Africa, accounting for 8 per cent of total non-oil trade with the continent
Spot gold was up 0.1 per cent at $2,042.01 per ounce, as of 5.34am GMT
The economic zones are expected to accelerate growth, increase export competitiveness, attract talent and improve the country’s global links
The latest IMF World Economic Outlook update found that recession concerns have gained prominence, while worries about stubbornly high inflation persist
The authority applies the latest and most important global standards in innovation and creativity strategy
The programme’s goals will be supported by an international network of fellows known for their achievements in government, technology and future sectors
The tax relief seeks to support startups and other small businesses by reducing their corporate tax burden and compliance costs
The kingdom has one of the highest reserve coverage ratios among Fitch-rated sovereigns at 18 months of current external payments
The Unemployment Insurance Scheme covers employees in the federal government and the private sectors
The new licence is part of an economic recovery plan launched by the Gulf state in October 2021 to boost investment and job creation
The GCC countries were high in the emerging markets ranking with Qatar ranking fourth and Saudi Arabia ranking sixth globally
The pre-event phase contributed around one-quarter of gross value and the legacy phase will add 62 per cent
The country’s non-oil sector grew by 6.2 per cent in 2022, the highest growth rate recorded over the past ten years
Additionally, the UAE cabinet meeting reviewed more than 19 initiatives to attract talent to the country
The CEPA programme was launched in September 2021 to expand UAE’s trade and investment partnership with several strategic global markets
In 2023, inflation is projected to decelerate to 3.2 per cent, on the back of softer price increases in all categories
Fitch Ratings, one of the big three rating agencies, assigns Saudi Arabia the same score as S&P Global while Moody’s has it one level higher