India is Now Preparing a Framework to Tax Big Tech Companies
Taxation and regulation is slowly catching up with technology: India is now preparing a framework to tax Big Tech companies. India’s desire to do so is part of a global pattern. Earlier this year, France came up with a proposition to tax Google, Facebook, and Amazon. India following suit... Read more
Turkey Consumer Confidence Index Reached 58.3 up by 3.1%
Consumer confidence in Turkey’s economy improved on a monthly basis in August, according to the country’s statistical institute on Thursday. The consumer confidence index reached 58.3 in August, up 3.1% from last month, TurkStat said in a statement. The index value is jointly calculated by TurkStat and the Central... Read more
UAE's Trade With Botswana Hits $1.4 Billion in 2018
The UAE’s trade with Botswana in 2018 was Dh5.14 billion ($1.4 billion), with diamonds accounting for more than 90 per cent of the African country’s exports to the UAE, said the Dubai Chamber of Commerce and Industry (DCCI). Dubai Chamber presented the economic scene in the Emirate of Dubai... Read more
World Bank Proposes a Project to Advance Job Creation for Young People in Jordan
The World Bank has proposed a project to advance job creation for young people in Jordan with a $200 million investment project aimed at supporting technology adoption and IT sector growth, according to project information released on August 7. The organisation has designated the project to three main areas... Read more
Israel and South Korea Sign a Free Trade Agreement
Israel and South Korea signed a Free Trade Agreement Wednesday, which is expected to greatly reduce the cost of cars and electronics imported from Seoul. Israeli Economy Minister Eli Cohen and visiting South Korean Trade Minister Yoo Myung-hee announced the finalization of the accord at a ceremony in Jerusalem.... Read more
Saudi Retailer Reportedly Pulled Out of its Franchise Partnership with Marks & Spencer
Saudi retailer Fawaz Abdulaziz Alhokair Co has reportedly pulled out of its franchise partnership with Marks & Spencer. Reuters quoted a company statement as saying it has ended similar agreements with a number of “non-performing” brands. The firm, which owns franchise rights for brands including Mango, Zara and Banana... Read more
Abu Dhabi to Invest $128.7 Million in 327 New Public Transport Buses
Abu Dhabi has announced plans to invest AED473 million ($128.7 million) in 327 new public transport buses. As part of the Integrated Transport Centre’s (ITC) plan to improve the public transport network, it said it will add 40 new buses from October 11. “The enhancement of the public transport... Read more
UAE’s Taqa Hails New Production Record at Kurdistan Oil Field
Abu Dhabi National Energy Company, better known as Taqa, has announced that its subsidiary has set a new production record from the Atrush oil field in the Kurdistan Region of Iraq. For the first time since the field commenced production operations in July 2017, the total monthly production volume... Read more
Damac Properties in Talks with DICO Properties to Acquire 2 Plots of Land in Al Sufouh and Business Bay
Leading Dubai developer Damac Properties is in talks with DICO Properties to acquire two plots of land in Al Sufouh and Business Bay, according to a statement on the Dubai Financial Market (DFM). Damac will reveal the value of the transaction once it is completed, and will also share... Read more
Dubai’s Emaar Properties Acquire Remaining 35% of Resort Developer Mirage
Dubai’s Emaar Properties in April completed its acquisition of resort developer Mirage Leisure and Development, having bought the remaining 35 percent stake for $18 million, according to financial statements filed on the Dubai Financial Market last week. The developer secured a 65 percent stake in the company in October... Read more