Tuesday, May 23, 2017

Business News

AED 10 billion impact estimated for open data in Dubai

Sharing of open data across the government and private sectors has a potential AED 10.4 billion annual Gross Value Added impact on Dubai’s economy by 2021. That’s according to the Dubai Data Economic Impact report released by the Dubai Smart Office with financial and advisory firm KPMG. The report says ...

Read More »

SMEs urged to be more proactive in VAT preparation

Small and medium enterprises (SME) in the UAE need to step up their efforts to ensure they’re prepared for VAT. That’s according to hiring agency Hays, which found that more than 70 per cent of large companies have implementation strategies in place compared to 42 per cent of smaller businesses. ...

Read More »

UAE non-oil economy to grow by 3.3%

The UAE’s non-oil economy is expected to grow by 3.3 per cent this year, as global trade strengthens and Expo 2020 Dubai projects see more investments. Those are findings of the International Monetary Fund (IMF), as it concluded a two-week mission to the UAE. Meanwhile oil GDP is expected to ...

Read More »

Nestle opens AED 540 million Dubai factory

Nestle has opened a AED 540 million Dubai factory making Maggi soup and Nescafe coffee. The factory, located in Dubai South close to the new Al Maktoum International Airport, employs more than 300 people and will produce 40,000 tonnes per year. It’s Nestle’s third factory in Dubai, adding to facilities ...

Read More »

Russia and Saudi Arabia extend oil supply cuts to March 2018

Russia and Saudi Arabia jointly said that a crude production cut would be extended until March 2018. The extension will initially be on the same volume terms as before and both countries said they hoped other producers would join in the efforts. Julia Lyubova reports from Moscow

Read More »