GCC retail is changing due to omnichannel strategies and connected intelligence

By | December 18, 2023

According to a top official, omnichannel strategies should aim for consistent experiences and service efficiency. Experts predict that the GCC retail industry, which is projected to be worth $308 billion in 2023, will continue to grow rapidly soon. Although there is no denying the industry has benefited from the post-pandemic recovery, opportune government reforms have… Read More »

IEA: World oil demand will rise faster than expected next year

By | December 18, 2023

In 2024, there will be a 1.1 million barrels per day (bpd) increase in global consumption. The International Energy Agency (IEA) predicted on Thursday that global oil demand would grow more quickly than anticipated next year, indicating a strong prognosis for oil use soon.  The Paris-based IEA predicted in a monthly report that global consumption… Read More »

Advanced Technologies Transforming Banking Sector in UAE: Says Experts

By | November 17, 2023

BIT2023 conference held in Dubai discussed the latest trends in the sector Cutting-edge technology is revolutionizing the banking sector, as highlighted by experts. At the BIT2023 conference held in Dubai, discussions revolved around the latest industry trends. Topics such as blockchain, advancements in banking technology, and cross-border remittances took center stage at the Banking, Innovation,… Read More »

UAE payments sector income to reach $19.8 billion by 2027 due to technology: BCG

By | November 17, 2023

In 2022, the UAE’s cards and payments market was estimated to be worth $119.8 billion. In five years, the UAE’s payments industry is expected to see a 55% increase in overall revenue. It will reach $19.8 billion, due to the growth of digital transactions and GenAI-powered technical breakthroughs. In a research note, analysts from Boston… Read More »

E-commerce Firms Must Employ AI While Ensuring Customers Are Informed

By | November 7, 2023

E-commerce companies are increasingly turning to AI to boost customer support and drive growth. In online shopping, more and more businesses are using AI. About 69% of leaders in customer support want to spend more on AI. Big companies like Amazon and Carrefour are already using AI chatbots to make their customers happier. Customers should… Read More »

Dubai’s GITEX Global Expands to Europe: Germany to Host 2025 Event

By | November 6, 2023

Gitex Global, the world’s largest tech and consumer electronics event, is set to debut in Europe, specifically in Germany, from May 21 to 23, 2025. This marks the second international edition following Gitex Africa Morocco in May 2023. The official launch ceremony took place with the presence of Omar Sultan Al Olama, UAE Minister of… Read More »

Deciphering the Future of Abu Dhabi Businesses: Demystifying NAFA Corporate Tax in UAE

By | November 6, 2023

Scheduled for August 26, the upcoming conference aims to offer unmatched insights and expert counsel on the transformative taxation environment. NAFA Summit Unveils Highly Awaited Occasion: Decoding Corporate Tax UAE 2023 Abu Dhabi, August 26, 2023 – The New Age Finance & Accounting Summit (NAFA) takes pride in unveiling the long-awaited Corporate Tax UAE Decoded… Read More »

0% Corporate Tax for UAE Free Zone-Based Manufacturing: Key Details to Watch

By | August 10, 2023

These enterprises must still divide profits between manufacturing and sales operations. The UAE Ministry of Finance has initiated a digital consultation to gather opinions regarding aspects of the corporate tax structure applicable to free zone companies. This consultation focuses on defining the categorization and extent of qualifying activities and considering activities deemed exempt. Please provide… Read More »

Dubai’s Q1 2023 GDP Surges by 2.8%, Reaching Dh111.3 Billion

By | August 9, 2023

Transportation and Storage Sector Leads with Remarkable 10.3% Growth, Outperforming Other Industries. In Dubai, the real gross domestic product (GDP) exhibited a 2.8 percent year-on-year expansion during the initial quarter of the year, attaining Dh111.3 billion. This growth trajectory exceeded the average global growth rates recorded for Q1 2023. Chairman of The Executive Council and… Read More »

UAE corporate Tax Deadline: Businesses have a 9-Month extension for accurate filings, avoiding penalties

By | August 1, 2023

The UAE Ministry of Finance has established administrative penalties for violations related to corporate tax returns. Businesses have a nine-month window to ensure compliance and guarantee the accuracy and completeness of their submissions. This nine-month window aligns with the company’s specific financial year. For example: Later, the authorities will disclose the specific penalties for each… Read More »