New levy only on tobacco products, energy and carbonated drinks DUBAI: The UAE’s excise tax on carbonated drinks, tobacco and energy drinks, which will launch on October 1, has generated a mixed reaction from analysts and businesses involved. The first tax on carbonated, or fizzy, drinks, will see prices rise by 50 per cent. “I…
These structures are applicable to new businesses set up within Dubai, excluding all free zones If you are a foreign national, you may want to go for a free zone license if you want 100 per cent ownership of your business. The Department of Economic Development lays down acceptable legal structures for companies based in…
The challenge in 2017 would be to surpass the competitive industry While we know that the world’s largest Ferris wheel, nestled in Dubai, is going to be the ultimate eye for the city, we are wondering what’s going to be the eye for Dubai when it comes to the business arena in 2017? With the…
UAE Minister of Economy expects non-oil sectors to grow by 3.8% The UAE Minister of Economy expects the country’s GDP to grow around 3% this year, roughly in line with 2016’s performance. In an interview with Gulf News, Sultan Al Mansouri said that improving performance by non-oil sectors would help to compensate for lower oil prices.…
Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, honoured 32 companies that were named winners of the ninth cycle of the Mohammed bin Rashid Al Maktoum (MRM) Business Award and the first cycle of the MRM Business Innovation Award at a ceremony held in Dubai on Tuesday. The ceremony was hosted…