Business News

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The UAE saved AED 8 billion over three years thanks to smart services. That’s according to the Telecommunications Regulatory Authority (TRA), which found that 30 million e-transactions were conducted between 2015 and 2017. “The savings generated are mainly attributed to reducing the time it takes to process transactions and cutting fuel costs,” the study highlighted. […]

A growing number of Indian expatriates in the UAE seem to buying property back home for investment rather than own use. According to a survey by the organisers of the Indian Property Show, the sliding Rupee and recent regulatory reforms are the key factors behind the purchases. Mumbai, Bangalore and Chennai are the preferred destinations […]

Businesses can now reap the benefits of not having to pay VAT on wholesale transactions of gold. That’s the word from a gold expert, who told ARN News that jewellery transactions between wholesale buyers and sellers are now reverse-charged and effectively zero-rated. Jeffrey Rhodes, Founder of Rhodes Precious Metals, says he expects the second half of […]

Nearly 1,700 new businesses got themselves up and running in Dubai during the month of May. That’s according to the Department of Economic Department (DED), which also renewed over 12,500 licences during the same period. Commercial licences totalled almost 60 per cent of the transactions, followed by professional licences at nearly 40 per cent. Trade […]

It’s now going to be a whole lot easier for businesses in Dubai to clear fines and renew their licences. The Department of Economic Development (DED) has launched a new package which allows companies to pay their fees and fines in installments. It also lets them freeze their trade licence for a year and seek […]

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