Recent

The Cabinet decided to slash the general sales tax on 61 commodities down to 4 per cent from 10 and 16 per cent. (Shutterstock)
January 19, 2019 - 10:00 GMT
The government's recent decision to reduce sales tax on 61 commodities has drawn mixed reactions, with critics describing it as “ineffective” as it does not include most essential items, experts said.
Some 700,000 civil servants observing a nationwide strike demanding payments' hike. (KUNA)
January 19, 2019 - 07:28 GMT
Most businesses and public services came to a halt on Thursday with some 700,000 civil servants observing a nationwide strike demanding payments' hike.
Economists believe the UAE economy to perform better than most expect over the coming years. (Shutterstock)
January 19, 2019 - 07:26 GMT
GCC countries are expected to grow by 2.3 per cent in 2019 and 2.6 per cent in 2020, from an estimated 2.4 per cent in 2018, driven by increased public spending and various measures to stimulate private sector, according to National Bank of Kuwait.
Between 50 and 100 students participated in the demonstration, holding signs protesting the cost of education and lack of job opportunities. (Shutterstock)
January 18, 2019 - 07:30 GMT
University and youth union members gathered Thursday evening on the steps of the National Museum to protest the current economic situation, which said was failing Lebanon’s youth.
According to the agreement signed with the housing authority, anticipating the total number of housing units will be between 5,000 to 6,000. (Shutterstock)
January 18, 2019 - 06:30 GMT
According to the agreement signed with the housing authority, anticipating the total number of housing units will be between 5,000 to 6,000.
The Dubai RTA has collaborated with big global firms for the extension of Dubai Metro Red Line up to the site of Expo 2020. (File/Photo)
January 18, 2019 - 06:00 GMT
The Dubai Roads and Transport Authority (RTA) has announced the successful trials for the automated fare collection gates which will be installed in Route 2020, the Dubai Metro extension project.
The world’s largest concentrated solar plant is due to be completed by 2021 near Dubai and is expected to have a 1,000-MW capacity. (Arab News)
January 18, 2019 - 05:30 GMT
Want to take a trip to the future using eco-friendly transportation? In the UAE, you can enjoy a ride on a solar-powered abra on Dubai Creek, or hop on an electric bus in the capital.
It's a dream set to come true in the UAE by 2020. (Shutterstock)
January 18, 2019 - 05:00 GMT
The world's first commercial hyperloop system, which is set to open in Abu Dhabi in 2020, will cost "between $20 million to $40 million per kilometre," Bibop Gresta, Chairman of Hyperloop Transportation Technologies, has revealed.
EIA expects crude oil prices to continue to rise in late 2019 and early 2020 because of an increase in refinery demand for light-sweet crude oil (Shutterstock)
January 17, 2019 - 10:46 GMT
World benchmark Brent crude oil will average $61 per barrel in 2019 and $65 in 2020, according to the U.S. Energy Information Administration’s January Short-Term Energy Outlook released on Wednesday.
The figure shows 10 percent rise from the tax income earned during the same period of time in the previous year. (Shutterstock)
January 17, 2019 - 10:03 GMT
Iran’s tax incomes during the first nine months of the current Iranian calendar year (March 21-December 21, 2018) stood at 680 trillion rials, Head of Iran's National Tax Administration (INTA) Seyed Kamel Taqavi-Nejad announced.
CBI decided to take a more moderate stance toward the digital money and blockchain technology following the imposition of a new round of U.S. sanctions. (Shutterstock)
January 17, 2019 - 09:54 GMT
In April 2018, the Central Bank of Iran banned domestic banks and people from dealing in foreign cryptocurrency because of money laundering and financing risks.
Qatari businessmen are interested in exploring investment opportunities available in Ethiopia. (Shutterstock)
January 17, 2019 - 09:47 GMT
Qatari businessmen are interested in exploring investment opportunities available in Ethiopia, Qatar Chamber First Vice Chairman Mohamed bin Ahmed bin Twar al Kuwari has said.
Expats Can Hold Senior Positions for 3 Years Only (shutterstock)
January 17, 2019 - 09:33 GMT
In order to support the process of Omanisation in private institutions, the Ministry of Higher Education (MoHE) has said that top positions can be held by expats only for three years, with one extension, if necessary.
Property sales to foreigners posted an annual hike of 78.4 percent to reach 39,663 houses. (Shutterstock)
January 17, 2019 - 09:07 GMT
Turkey recorded over 1.37 million house sales in 2018, the country's statistical office reported Wednesday.
The annual inflation rate in Tunisia reached a near-30-year high in 2018. (Shutterstock)
January 17, 2019 - 08:58 GMT
The annual inflation rate in Tunisia reached a near-30-year high in 2018, prompting questions on the viability of the country's financial policies.
The total value of the NEOM Bay development has not been disclosed. (Arab News)
January 17, 2019 - 08:07 GMT
Saudi Arabia announced on Wednesday that it will start developing the first urban area of NEOM, the Kingdom’s planned $500 billion mega-city.