News

In Brief

January 2018

Mideast exports at $765bn

MIDDLE EASTERN countries recorded exports of $765.8 billion and imports of $665.2 billion in 2016, said a top official, citing a report by World Trade Organisation (WTO).

The region recorded the highest exports growth (+4 per cent), given its thriving air transport sector, tourism and IT services not only in 2016, but also 2017.

 

VAT registrations grow 73pc

DUBAI-based Al Dhaheri Jones & Clark (ADJC), a leading accounting and tax consultation firm, has reported a 73 per cent growth in VAT (value-added tax) registrations. “As the deadline for VAT nears, small and medium sized (SME) businesses in the UAE have realised that it is important to hire the services of legally qualified tax agents and consultants to avoid violation of the tax law,” said Mohammed Fathy, general manager of Al Dhaheri Jones & Clark. A VAT at a five per cent rate is due to be implemented on goods and services in the UAE starting from January 1, 2018.

 

GE, Dewa discuss clean energy

A SENIOR delegation from General Electric (GE) recently visited Dubai Electricity and Water Authority (Dewa) to discuss closer ties and cooperation, particularly in clean and renewable energy. Saeed Mohammed Al Tayer, managing director and CEO of Dewa, received the visiting delegation from GE, which included Russell Stokes, president and CEO of GE Power and other officials. During the meeting, Al Tayer reviewed Dewa’s most important projects, initiatives, and programmes, highlighting Dewa’s commitment to achieve the objectives of the Dubai Clean Energy Strategy 2050.

 

Tabreed, Masdar sign deal

NATIONAL Central Cooling Company (Tabreed), a leading regional UAE-based district cooling utility company and Abu Dhabi’s renewable energy company, Masdar, have signed a service agreement to operate Masdar’s first district cooling plant. Under the three-year contract, Tabreed will manage the district cooling plant on behalf of Masdar. The Masdar district cooling plant is state-of-the-art and showcases the smart energy system of the district.




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