The agreement establishes a comprehensive framework for cooperation, encouraging regular interactions between UIBC-UC members and Maharashtra government officials
Politics & Economics
Al Habtoor Group
UAE billionaire Khalaf Al Habtoor cancels Lebanon investments
UAE businessman makes ‘painful decision’ to cancel planned investments in Lebanon
High Net Worth Individuals
UK millionaires head for Dubai, Abu Dhabi despite attempts to slow exodus, experts say
Experts also called for a complete reversal of the planned amendments to the non-dom tax rules to make it easier for wealthy individuals to relocate to the UK, particularly in light of the Trump presidency
New UAE VAT rules
UAE issues $790m VAT refunds for citizens
UAE tax authorities shares details on massive VAT refund schemes
GCC
GCC goods trade valued at $1.5tn in 2023, bloc ranked third in world with China top partner
GCC ranked sixth in the world for trade of goods
Federal Tax Authority
UAE announces tax fines
The UAE Federal Tax Authority has clarified penalties for companies failing to pay correct level of corporate tax
circular economy
UAE highlights investment potential in circular economy
UAE Minister says shift towards circular economy model is crucial for nation’s economic and social development
IMF
UAE economy to grow 4% this year: IMF
The International Monetary Fund puts UAE economic growth at around 4 per cent this year
Department of Economic Development Ras Al Khaimah
RAKEZ and DED join hands to boost business services in the emirate
DED to extend its suite of value-added services, including corporate bank account opening and corporate tax filing to RAKEZ clients
diplomacy
Analysis: How Trump Secretary of State pick Marco Rubio will shake up Middle East relations
Rubio faces a complex set of immediate challenges, including implementing the Gaza ceasefire deal, managing escalating tensions with Iran, and attempting to revive the Abraham Accords, experts say
Donald Trump
Seattle judge temporarily blocks Trump’s order on birthright citizenship
Judge John Coughenour calls the executive order “blatantly unconstitutional” before issuing a temporary restraining order
Crown Prince Mohammed bin Salman
Saudi Arabia plans $600bn investments in US Crown Prince tells Donald Trump
Saudi Arabia will invest more than $600bn in the United States, the Crown Prince told Donald Trump in a phone call
Abu Dhabi
AD Ports Group signs MoU with Egypt to develop major logistics hub in Alexandria Port
The area is set to be one of the largest logistics hubs on the Mediterranean Sea, at Alexandria Port
Saudi ministry of commerce
Saudi service sector hit $144bn in 2023
Saudi service trade is an increasingly important sector for the Kingdom
Dubai
Analysis: UAE’s passport power surge reflects decades of diplomatic finesse and strategic vision
The UAE has broken into the world’s top 10 most powerful passports while establishing itself as a premier destination for global wealth
intellectual property
UAE Intellectual Property laws explained: Are your business assets protected?
Here’s everything business owners and entrepreneurs need to know about intellectual property rights in the UAE
Artificial intelligence
Trump announces $500 billion investment in AI project ‘Stargate’
Abu Dhabi’s MGX is a lead partner in the project that includes initial equity funders SoftBank, OpenAI and Oracle