 |
Jersey Builds Business Relationship With UAE
4/24/2012 Jersey Treasury Minister Philip Ozouf has arrived in the United Arab Emirates
as part of a three-day official visit to promote Jersey's offerings as an international
financial centre.
|
 |
Legatum Chooses DIFC For Global HQ
4/16/2012 Private investment group Legatum has made a substantial investment in acquiring
Precinct Building 6 within the Dubai International Financial Centre tax-free zone, which will serve as the firm's global headquarters.
|
 |
WTO Makes UAE Trade Recommendations
4/9/2012 The United Arab Emirates plays an important role in the multilateral trading system and has taken bold steps to diversify the economy away from oil and gas, according to the World Trade Organisation.
|
 |
UAE, Montenegro Ink DTA, Investment Treaty
4/4/2012 The United Arab Emirates has signed a double taxation agreement and an investment promotion and protection treaty with the Republic of Montenegro.
|
 |
Jersey Embarks On Major Gulf Promotional Tour
3/20/2012 The Jersey government has announced that a convention for the avoidance of double
taxation and fiscal evasion will be signed with Qatar during its current promotional
trip to the Gulf region.
|
 |
Virgin Australia Announces Carbon Tax Surcharges
2/28/2012 Virgin Australia has outlined the surcharges it will add to flight prices in response to new Australian and European Union carbon pricing schemes.
|
 |
Another Solid Year For The DIFC
2/23/2012 Despite the impact of the European debt crisis, the global economic downturn and political turmoil in certain parts of the region, the Dubai International Financial Centre continues to strengthen its position as the leading international financial centre in the region.
|
 |
Dubai Airline Plans To Offset EU Carbon Tax
2/21/2012 Dubai-based Etihad Airways has plans to increase the fuel surcharge on flights
to Europe in an attempt to minimise the damage caused by the EU's new carbon tax.
|
 |
UAE To Hike Tax On Tobacco
2/6/2012 The UAE has proposed a nationwide tax on tobacco products and its derivatives in an attempt to reduce the sale of cigarettes across the Emirates.
|
 |
Panama Plans More TIEAs
2/1/2012 Panama's Minister for the Economy and Finance, Frank De Lima has confirmed
the government will continue to seek out tax information exchange agreements
with other nations despite having reached the twelve
agreement quota set for inclusion on the Organisation for Economic Cooperation
and Development's white list.
|
 |
UAE To Improve Bankruptcy Law
12/5/2011 The United Arab Emirates' Ministry for Finance is expected to pass new legislation
that will introduce new rules with regard to bankruptcy and financial restructuring.
|
 |
Switzerland Adopts Four DTAs
11/29/2011 Switzerland’s Federal Council has adopted texts for four further
double taxation agreements, which will now be submitted to parliament
for approval.
|
 |
No New Taxes In 2012 For UAE
11/28/2011 A UAE Finance Ministry official has confirmed that the UAE will not impose any new taxes in 2012, with the implementation of a value-added tax across the Gulf Cooperation Council now not likely for at least two more years.
|
 |
DMCC Welcomes Rise In Company Formations
11/24/2011 The Dubai Multi Commodities Centre Authority, the licensing body for the Jumeirah Lakes Towers Free Zone, has registered more than 1,000 new companies in the past 10months.
|
 |
UAE, South Africa Discuss Investment
11/21/2011 Dubai and South Africa have considerably increased their volume of bilateral investment in recent years, with the financial services sector being the largest recipient.
|
 |
ANZ Bank Establishes Dubai Base
11/16/2011 Following approval from the Dubai Financial Services Authority for a Category
4 branch license, Australia and New Zealand Banking Group Limited has commenced
operations from a new office in the Dubai International Financial Centre.
|
 |
DIFC Courts Expands Jurisdiction
11/2/2011 Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, signed a law on October 31 allowing any businesses to use the English language DIFC Courts, the Dubai International Financial Centre’s independent, common law judicial system, to resolve commercial disputes.
|
 |
IoM Forges Stronger Commercial Ties With UAE
10/24/2011 Important business relationships were enhanced on a recent visit to Dubai and
Abu Dhabi by the Isle of Man's Department of Economic Development.
|
 |
Atlas Targets Asian Trust Services Market
10/18/2011 Atlas Corporate Services Group, a leading international corporate and trust service provider, has announced that it has been granted new licences to operate in the Ras-Al-Khaimah Free Trade Zone and in Mauritius, as the firm expands its global reach into Asia.
|
 |
Switzerland, UAE Sign DTA
10/11/2011 Switzerland and the United Arab Emirates have recently signed in Dubai a double
taxation agreement in the area of taxes on income, containing provisions
on the exchange of information in line with the internationally applicable standards.
|
 |
Dubai Courts Fast Track Employment Claims
9/9/2011 The DIFC Courts, the Dubai International Financial Centre’s independent, common law judicial system, has announced that the financial limit on employment cases that can be heard by the small claims tribunal has been increased.
|
 |
Emirates Expects USD1bn EU Carbon Tax Bill
8/9/2011 UAE-based airline Emirates expects to see costs of up to USD1bn imposed on it by the European Union's plans to include airlines in its Emissions Trading Scheme from next year.
|
 |
UAE, Kenya Sign DTA
7/7/2011 The United Arab Emirates Ministry of Finance has announced the signing of an agreement with the Republic of Kenya on the avoidance of double taxation
on income.
|
 |
Visa Extensions To Boost UAE Property Market
7/1/2011 Commentators predict a boost in the property market after the UAE Federal Government this week extended the visa period for real estate investors from six months to three years.
|
 |
Singapore, UAE Sign Investment Agreement
6/27/2011 An Investment Guarantee Agreement between Singapore and the United Arab
Emirates was signed on June 24 by Singapore’s Minister of State for Trade and
Industry and National Development, Lee Yi Shyan, and the UAE’s Minister
of State for Financial Affairs, Obaid Humaid Al Tayer.
|
 |
UAE May Reduce Telecoms Royalty
5/19/2011 The United Arab Emirates may cut taxes payable by the struggling telecoms company Etisalat.
|
 |
Montenegro, UAE Agree DTA
5/17/2011 Montenegro and the United Arab Emirates have concluded their latest set of talks on the completion of a double tax agreement between the two countries, agreeing also to take all the necessary steps towards its signing at the earliest opportunity.
|
 |
Mexico Adopts ICC's Carnet System
5/9/2011 The ATA Carnet System is set to expand its membership on May 16 when Mexico
will join the international system. ATA Carnets reduce paperwork and costs for
business-people travelling with goods between countries party to the arrangements,
and allow temporary duty- and tax-free import and export of goods for up to
one year.
|
 |
Jersey Expands Presence In GCC And India
4/8/2011 Jersey has stepped up its business connections in both India and the Gulf region
following recent formal visits by government-led delegations and through the
establishment of a permanent presence in the region.
|
 |
India-Jersey Tax Agreement Delayed
3/22/2011 A delay to the signing of a Tax Information Exchange Agreement with India will
not impact on Jersey entities’ efforts to secure Indian business opportunities,
Jersey Finance has reassured the financial services industry.
|
 |
Canada To Review TSX And LSE Merger
2/17/2011 Canada's Industry Minister has announced an impending 'thorough' review of the proposed TMX-LSE merger. Tony Clement told MPs on Monday February 14 that 'it is important to have an in-depth review because it is a very complex transaction.'
|
 |
Luxembourg's Gulf Tour Strengthens Economic Ties
2/14/2011 Luxembourg’s Head of State the Grand Duke and Finance Minister Luc Frieden
recently undertook a visit of the Gulf region in a bid to promote the country’s
financial centre.
|
 |
Lamy Urges On Doha Participants
2/7/2011 The World Trade Organization’s Director General, Pascal Lamy, as chairperson
of the Trade Negotiations Committee, urged WTO ambassadors on February 2 to
engage in bilateral and small group discussions on resolving key obstacles to
a near-global multilateral free trade agreement, through the Doha Round.
|
 |
Jersey Continues Overseas Marketing Drive
1/21/2011 Jersey Finance – the promotional agency for the island’s
financial services industry – has announced the appointment of Sean Costello
as Head of Business Development for the Gulf Cooperation Council region
and India.
|
 |
Malaysia, GCC Move Towards FTA
1/20/2011 It has been disclosed that the framework for a free trade agreement between
Malaysia and the Gulf Cooperation Council has been completed.
|
 |
UAE Discusses Trade Cooperation With Syria
12/29/2010 The United Arab Emirates has been having discussions with Syria about proposed bilateral trade and investment cooperation between the two countries.
|
 |
Netherlands Notes Tax Agreements' Entry Into Force
12/30/2010 The Netherlands government has announced the ratification of a revised double
tax agreement with the United Kingdom, approved by the Netherlands’ Senate in late December.
|
 |
Abu Dhabi Relaxes Controls On Real Estate
12/13/2010 Abu Dhabi's Crown Prince, Shaikh Mohammad Bin Zayed Al Nahyan on December 8 issued new regulations to support the growth of the emirate's real estate sector, through the mandatory registration of investors' interests in Abu Dhabi property in a centralized register, and through the relaxation of rules on foreign ownership.
|
 |
Middle East Easiest Place To Pay Taxes
11/25/2010 Qatar is the second easiest country in which to pay tax globally according to a report just published. All six GCC states fall within the top 14.
|
 |
DIFC And UAE To Exchange Policy Ideas
11/1/2010 The United Arab Emirates' Ministry of Finance has announced the signing
of a Memorandum of Understanding with the Dubai International Financial
Centre Authority, to promote cooperation and the exchange of expertise around
financial and economic policies and strategies.
|
 |
Cyprus, UAE Conclude DTA
10/29/2010 The negotiations for an agreement between Cyprus and the United Arab Emirates on the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income were concluded successfully in Nicosia recently.
|
 |
Baring Establishes Dubai Office
10/25/2010 Baring Asset Management, the international investment management firm, has announced the opening of a representative office in Dubai in response to growing
demand from clients based in the Middle East.
|
 |
DFSA Signs MoU With Regional Standard-Setters
10/13/2010 The Dubai Financial Services Authority, the regulator of the Dubai International
Financial Centre, on October 10 announced the signing of a Memorandum of Understanding
with the Asian-Oceanian Standard-Setters Group, which took place in September.
|
 |
DIFC Cuts Fees
10/12/2010 The Dubai International Finance Centre recently announced a series of changes
to its Registry of Companies fees.
|
 |
Switzerland, UAE Initial DTA
10/5/2010 Switzerland and the United Arab Emirates have initialled a bilateral double taxation
agreement, providing for extended administrative
assistance in tax matters in accordance with the Organization for Economic Cooperation
and Development’s standard.
|
 |
DIFC Announces Amendments To PCC Regime
9/28/2010 The Dubai International Financial Centre Authority has announced
that it has processed amendments to existing Companies Regulations provisions
dealing with Protected Cell Companies, based on recommendations made by
a panel of market practitioners and the Dubai Financial Services Authority.
|
 |
Bangladesh, UAE Initial Investment Agreement
9/24/2010 The United Arab Emirates Ministry of Finance has announced the initialling
of an agreement with Bangladesh for the protection and promotion of investments, to complement
the double tax agreement initialled by both parties in May 2010.
|
 |
Switzerland Tops Competitiveness League
9/13/2010 Switzerland has claimed top spot in The Global Competitiveness Report 2010-2011,
as released by the World Economic Forum on September 9. In the rankings, the United
States has fallen two places to fourth position, overtaken by Sweden (2nd) and
Singapore (3rd), after already ceding the top place to Switzerland last year.
|
 |
GCC Customs Union Delayed Again
9/13/2010 The Gulf Cooperation Council countries have, in a recent meeting, failed to agree
on various issues holding back the establishment of a unified customs union,
discussions for which have been ongoing since 2003.
|
 |
DIFC Announces Strong Growth In 2010
9/3/2010 Despite the economic downturn, the Dubai international Financial Centre is continuing to attract companies form all over the world, especially from Asia.
|
 |
UAE Nears Completion Of New Companies Law
9/2/2010 The United Arab Emirates’ Minister for the Economy, Sultan Bin Saeed Al Mansouri has told business leaders that the comprehensive rewrite of companies legislation is in its final stages.
|
 |
DAFZ Continues Explosive Expansion
8/23/2010 The Dubai Airport Freezone, a tax neutral zone in the vicinity of Dubai International Airport, has reported that business sales
increased 63% during the first half of 2010 compared to the same period last year.
|
 |
Dubai Launches SME Assistance Program
8/17/2010 The Dubai Export Development Corporation, an agency of the government
of Dubai’s Department of Economic Development, has launched its new Export
Assistance Program, which is to provide financial assistance to privately-owned
small- and medium-sized enterprises undertaking exporting activities from the
Emirate.
|
 |
DP World Reports First Half Growth
8/4/2010 Global marine terminal operator DP World has announced that it handled 23.7 million twenty-foot equivalent container units across its portfolio of 50 operating terminals in the first six months of 2010, an increase of 16% against the same period last year and ahead of 2008.
|
 |
UAE, Hong Kong Initial DTA
7/28/2010 The United Arab Emirates’ Ministry of Finance has announced that a double tax convention was recently initialled with Hong Kong.
|
 |
Asia Gains In Digital Economy Rankings
7/13/2010 The Economist Intelligence Unit has released its Digital Economy
Rankings for 2010, which find that, despite Europe maintaining top position in
terms of Internet infrastructure and adoption, recent investment has dramatically
improved the Asia-Pacific region's e-readiness.
|
 |
UAE, Ireland Sign DTA
7/13/2010 Ciarán Madden, Ireland's Ambassador to the United Arab Emirates, and Younis Haji Al Khoori, Director
General of the UAE Ministry of Finance, have signed a Double Taxation Convention
on behalf of their respective countries.
|
 |
DFSA Signs MoU With Major US Regulator
6/16/2010 The Dubai Financial Services Authority, the regulator for the Dubai International
Financial Centre, said that it last week entered into a Memorandum of Understanding
with the New York State Banking Department, which will significantly enhance
bilateral cooperation between the two regulators, particularly in information
exchange.
|
 |
UAE Expands Its Tax Treaty Network
6/15/2010 The United Arab Emirates Ministry of Finance has announced the signing of conventions
for the avoidance of double taxation and fiscal evasion with Venezuela on June
8, and with the Netherlands on June 2. The country also initialed an additional
double tax agreement with Libya on June 10 in the second round of negotiations
with the country.
|
 |
UAE Signs Tax Treaty With Venezuela
6/8/2010 The United Arab Emirates has signed a double taxation
avoidance agreement with Venezuela, the first such agreement that the
UAE has reached with a Latin American country.
|
 |
DAFZ Woos Japanese Investors
6/8/2010 During a recent trade mission to Japan, Japanese investors were invited to
establish operations within the Dubai Airport Freezone by its Director
General, Mohammed Al Zarooni. The Free Zone has recently been recognized as the second best
free zone, in terms of its low tax offerings, in the world.
|
 |
IDBI Establishes Dubai Subsidiary
6/7/2010 One of India's leading banks, IDBI Bank Ltd, has received a licence from the Dubai Financial Services Authority to provide a full range of corporate banking services including financial advisory services and syndication of credit from the Dubai International Financial Centre.
|
 |
Malaysia To Progress FTA With GCC
6/4/2010 Malaysia’s Deputy International Trade and Industry Minister, Datuk Mukhriz
Mahathir, has disclosed that Malaysia is to work on the framework for a free trade
agreement with the Gulf Cooperation Council.
|
 |
MENA Insurers Urged To Strengthen Corporate Governance
6/2/2010 The United Arab Emirates Minister for the Economy, Sultan Bin Saeed Al Mansoori,
has called on the insurance and financial sector to push forward with the adoption
of modern corporate governance and transparency measures to ensure the Middle
East and North Africa insurance industry realises its ‘vast potential
for growth’.
|
 |
DIFC Reports On Economic Performance
5/13/2010 The Dubai International Financial Centre recorded a strong economic performance in 2008, with its nominal gross domestic product rising to USD2.8bn, a 47.1% increase from its GDP in 2007, according to the latest Economic Note issued by the centre's Economics Unit.
|
 |
Malaysia And GCC Still In FTA Talks
5/3/2010 The Malaysian Ambassador to the United Arab Emirates, Datuk Yahaya Abdul Jabar,
has confirmed that Malaysia and the Gulf Cooperation Council are continuing
their negotiations for a Malaysia-GCC free trade agreement.
|
 |
DIFC Attracts Indian Financial Group
4/29/2010 Kotak Mahindra Financial Services Limited, a part of the Kotak Mahindra Group, one of India’s leading financial conglomerates, has announced the launch of operations in the Dubai International Financial Centre.
|
 |
ABN AMRO Moves Middle East Operations To DIFC
4/23/2010 ABN AMRO Bank NV has moved all of its Middle East private banking operations
into the Dubai International Financial Centre, having been granted a Category
1 license by the Dubai Financial Services Authority.
|
 |
Reliance Establishes In Dubai
4/19/2010 Reliance Asset Management (UK) PLC, has commenced operations from the Dubai
International Financial Centre after receiving a license from the Dubai Financial
Services Authority. It will provide a full range of wealth and investment
advisory services to professional investors and institutional clients in the
region.
|
 |
GCC VAT Uncertain
4/8/2010 Countries of the Gulf Cooperation Council could have a regional value-added tax in place as early as 2012 according to an expert advising the United Arab Emirates government, although this target date is looking increasingly unlikely to be achieved with some member states making faster progress than others in preparing for the tax.
|
 |
Dubai Debt Plan Published
3/30/2010 The Dubai government has announced that it will channel USD9.5bn in fresh funding
into indebted state-owned holding company, Dubai World, under a plan that will
reimburse 100% of creditors’ funds within eight years.
|
 |
Hinduja Gains Dubai Licence
3/23/2010 Hinduja Bank (Middle East) Ltd, a subsidiary of the Switzerland-based Hinduja Bank (Switzerland) Ltd, has obtained authorization from the Dubai Financial Services Authority to upgrade its banking licence to Category 1, allowing it to provide a full range
of banking services from its base in the Dubai International Financial Centre.
|
 |
UAE Completes VAT Study
3/12/2010 Authorities in the United Arab Emirates are inching closer to the introduction
of a value-added tax.
|