Business & Money | Sunday 7 July, 2024 8:13 am

RAKEZ and AHK boost Ras Al Khaimah’s business outlook through networking event for German investors

Ras Al Khaimah Economic Zone (RAKEZ) along with the German Emirati Joint Council for Industry & Commerce (AHK) hosted a successful Business Breakfast in Ras Al Khaimah aimed at fostering networking among German investors and businesses throughout the UAE. Ms. Ute Brunn, Deputy Consul General of ...

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Business & Money | Sunday 7 July, 2024 8:00 am

59% growth of Abu Dhabi non-oil GDP in 10 years

The Abu Dhabi Department of Economic Development (ADDED) organised, in collaboration with the Abu Dhabi Investment Office (ADIO), the third edition of Al Multaqa quarterly meetings, presenting the business community with recent updates on the Emirate’s economy and achievements in the first half...

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Government | Saturday 6 July, 2024 1:47 pm

ZATCA updates rules on exemption of returned goods from customs duties

The Zakat, Tax and Customs Authority (ZATCA) updated the rules related to the exemption of returned goods from customs duties.   This includes updating the requirements related to exempting the returned goods and developing the customs procedures related to goods that are temporarily ...

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Government | Saturday 6 July, 2024 1:45 pm

Saudi issues executive regulations for social insurance law

Mohammed Al-Jadaan, Minister of Finance and Chairman of the General Organization for Social Insurance (GOSI), endorsed the executive regulations for the Social Insurance Law, to become effective from the date of their publication in the Official Gazette on July 5, 2024. ...

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Business & Money | Friday 5 July, 2024 10:54 am

Batic Law Participates in SelectUSA Summit and Signs MOU with Tate Bywater

Batic Law is proud to announce its participation in the SelectUSA Investment Summit, the premier event for business investment in the United States. This summit is a critical platform that connects investors, companies, and economic development organizations (EDOs) to facilitate significant...

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Environment & Energy | Friday 5 July, 2024 10:50 am

Saudi Aramco sets Arab Crude OSP for August

Saudi Aramco maintained August official selling price (OSP) for its flagship Arab Light crude to North America at $4.85 per barrel, above the Argus Sour Crude Index (ASCI).   The Arab Light price differential for buyers in West Europe has been set...

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Government | Friday 5 July, 2024 10:44 am

ACRSD imposes SAR 11.1M fine on capital market violators

The General Secretariat of the Committees for Resolution of Securities Disputes (GS-CRSD) announced the issuance of the Appeal Committee for the Resolution of Securities Disputes' (ACRSD) final decision No. (3280/L.S/2024) of 1445 H., dated April 3, 2024, on the public penal case filed by the...

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Business & Money | Friday 5 July, 2024 10:40 am

PIF signs MoU to invest $500M in Hong Kong-listed ChaoShang

The Public Investment Fund (PIF) signed on July 4 a memorandum of understanding (MoU) with Hong Kong-listed ChaoShang Group for a potential $500 million investment.   In a statement, ChaoShang said the total investment comprises of $100 million in five-year convertible debenture and...

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Business & Money | Friday 5 July, 2024 10:26 am

Every military direct job adds 5 others: SAMI

Walid Abukhaled, CEO of Saudi Arabian Military Industries (SAMI), said every direct job in the Saudi military industries sector contributes to adding five indirect others supporting the economy, Al Eqtisadiah newspaper reported.   He added that the entry of new companies into the...

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Business & Money | Friday 5 July, 2024 1:47 am

Abu Dhabi Securities Exchange (ADX) Welcomes Secondary Listing of Inaugural ADQ $2.5 Billion Bond

Abu Dhabi Securities Exchange (ADX), one of the fastest-growing exchanges in the world, announced today the secondary listing of the Abu Dhabi Development Holding Company’s (ADQ) $2.5 billion bond, first listed on the London Stock Exchange (LSE) in April 2024. The dual tranche bond, comprising a...

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