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Among the key sectors in the UAE, those preferred by investors are e-commerce, fintech, food and beverage, logistics and transport. (Shutterstock)
May 22, 2018 - 07:46 GMT
The UAE's startup industry is upbeat about the 10-year residency visa for investors and specialists and sees it as a step to ensure long-term investment and sustainability.
US Secretary of State Mike Pompeo. (AFP)
May 22, 2018 - 07:41 GMT
The US told Iran on Monday to drop its nuclear ambitions and pull out of the Syrian civil war in a list of demands that marked a new hard-line against Tehran and prompted an Iranian official to warn that Washington seeks regime change.
The research found that in the UAE, AI will have the greatest impact on the financial services, healthcare, and transport and storage industries, with increases of $37 billion, $22 billion and $19 billion. (Pixabay)
May 22, 2018 - 07:35 GMT
These figures were revealed in a recent report by Accenture, which looked at 15 industries in the UAE and 13 in Saudi Arabia to determine the potential sector-specific impact of AI on the economies of the Middle East.
Geopolitical shocks have been a recurrent theme in the international oil market. (Shutterstock)
May 21, 2018 - 08:52 GMT
President Donald Trump's decision to withdraw from the Iran nuclear deal and reimpose financial sanctions on Tehran will have a profound impact on the global oil market.
The Haramain high-speed rail link is among the Saudi infrastructure projects catching the attention of international investors. (AN)
May 21, 2018 - 08:44 GMT
A leading London-based financial expert, in charge of funds worth £2.3 billion ($3.1 billion), is ready to boost his firm’s investments in companies in the Kingdom, as its reform program begins to create significant economic opportunities.
Because Bitcoin is decentralized, there’s no way to know exactly how much power it uses. (Shutterstock)
May 21, 2018 - 08:38 GMT
At current levels, de Vries estimates Bitcoin mining uses at least 2.6GW of power per year, and that number could grow to as much as 7.7GW by the end of the year, an astounding half a percent of the entire world’s electricity consumption.
Investors can have 100 per cent ownership of their companies in the country. (Twitter)
May 21, 2018 - 08:34 GMT
Investors and specialists such as doctors and engineers will receive UAE residency visas valid for up to 10 years, it was announced on Sunday.
Everyone agrees that Hezbollah can always find ways to bypass the “American fist” around it. (AFP/File)
May 20, 2018 - 09:26 GMT
Opinions differ in Lebanon on the issue of US and Gulf sanctions against Hezbollah, the latest of which target members of its consultative council. However, everyone agrees that Hezbollah can always find ways to bypass the “American fist” around it.
SABB, which is 40 percent owned by HSBC Holdings, and Alawwal said in April last year they had agreed to start talks on the merger. (Courtesy of SABB)
May 20, 2018 - 09:15 GMT
Saudi British Bank (SABB) and Alawwal Bank have agreed to merge, in a move that would create the Kingdom’s third-biggest lender with assets of around $77 billion, the institutions announced on Wednesday.
Dubai has been ranked the 28th expensive place for construction and rated
May 20, 2018 - 09:08 GMT
The cost of construction in the UAE is lower than most - if not all - developed cities mainly due to intense competition and low wages in the construction industry, a new report reveals.
The conditions state that in order to refund VAT, applicants must be UAE national. (Shutterstock)
May 20, 2018 - 08:08 GMT
The Federal Tax Authority (FTA) has set three requirements and procedures for UAE nationals to refund Value Added Tax (VAT) incurred on new residences.
Cryptocurrencies, such as Bitcoin, Ethereum, Ripple, Lite and Dash, are taking the world by storm. (Shutterstock)
May 17, 2018 - 13:00 GMT
Cryptocurrencies are beginning to be adopted by established banking groups.
An agreement to build the giant 200-gigawatt project was signed by Crown Prince Muhammad Bin Salman and SoftBank Group Corporation in New York in March. (Pixabay)
May 17, 2018 - 12:00 GMT
According to Quartz, an American economic website, the project is the biggest sign of Saudi Arabia’s practical moves to wean its economy off oil.
He faced charges of embezzlement of public funds and gaining unauthorised access into an e-system, at the Court of First Instance. (Pixabay)
May 17, 2018 - 08:48 GMT
According to the public prosecution records, the 38-year-old employee was occupying the post of an administrative officer at the UAE Ministry of Foreign Affairs and International Cooperation.
The drop in total crypto market cap further below $400 billion signalled the lack of the demand for cryptos amid widespread selling. (Pixabay)
May 17, 2018 - 08:30 GMT
Bitcoin fell 3.25% to $8,255.2 on the Bitfinex exchange and remained close to session lows of $8,100.0.
The regulations apply to all electronic media activities carried out within the UAE, including those in free zones. (Pexels)
May 16, 2018 - 13:00 GMT
Those who fail to comply with the new rules will have their social media accounts and related websites or blogs shut down, as well as being slapped with fines of up to Dh5,000.