Dubai visitor tricks man in $570,000 fake car sale deal

Tuesday, 13 February 2018

A Pakistani man who was in the UAE on a tourist visa was charged with forgery in a hearing at the Dubai Court of First Instance on Monday, after allegedly defrauding a man of a 2.1 million Dhs ($570,000) fake car sale deal.According to Khaleej Times, the 40-year-old man pretended to possess the documents of 43 cars, which turned out to be fake as they were not issued by Dubai’s Roads and Transport Authority.The complainant, a 45-year-old man from Jordan, said that he had a history of ...

World’s first ‘autonomous pods’ unveiled in Dubai – but what are they?

Monday, 12 February 2018

The UAE’s Road and Transport Authority (RTA) showcased the world’s first driverless pods at the World Government Summit on Sunday. The autonomous vehicles are meant to travel short to medium distances, and will have a capacity to accommodate 10 passengers (six seated and four standing), according to Gulf news. The pods can travel attached, or separately depending on the riders’ destination. Each pod is fitted with a battery that can last up to three hours, and can be recharged ...

UAE to launch first astronaut program, thousands apply

Monday, 12 February 2018

More than 3,000 UAE nationals applied to be the first Emirati astronaut in the UAE Astronaut Programme, the program’s manager said in the World Government Summit in Dubai on Sunday. The Mohammed bin Rashid Space Centre revealed that around one in four of the applicants are women. Salem Humaid al-Marri, the program’s manager, told the National that the number of applicants “were a massive amount for a country the size of the UAE.” “It shows the Government’s ...

Abu Dhabi financial regulator may create framework for virtual currencies

Sunday, 11 February 2018

The regulator of Abu Dhabi's international financial center said it could create rules for exchanges handling virtual currencies, in a sign that authorities in the UAE may allow trade in cryptocurrencies such as bitcoin to develop. The Financial Services Regulatory Authority (FSRA) is considering whether to establish a framework for virtual currency exchanges, the FSRA, which supervises the Abu Dhabi Global Market (ADGM), said on Sunday. "In considering such a framework, the FSRA intends ...

Touting ‘transformation’, French PM seeks investment in Dubai

Sunday, 11 February 2018

France’s Prime Minister Edouard Philippe promised lower taxes and a business-friendly France at a global summit in Dubai on Sunday, seeking investment from the oil-rich Gulf region. “France is undergoing great transformation”, Philippe said, addressing a thousand-strong audience at Dubai’s World Government Summit. The prime minister pledged a “favorable framework for business and investment” and a drop in corporate taxes in France. The annual summit, often ...

World’s tallest hotel: Next in line for Dubai’s record-breaking buildings

Sunday, 11 February 2018

The Gevora hotel, set to be the world’s tallest hotel standing at 356 meters high on Dubai’s main highway Sheikh Zayed Road, will open on February 12. Built by the Emirati developer, al-Attar Group, the Gevora has 528 rooms and 75 floors. The developer is hoping to take the tallest hotel title from the JW Marriott Marquis which stands at 355 meters. Other hotels in Dubai include Burj al-Arab, standing at 321 meters high, and the Rose Rayhann which is 333 meters high, according to ...

No plans to raise VAT in the UAE for the next 5 years, minister says

Sunday, 11 February 2018

The UAE has no plans to raise the rate of value-added tax (VAT) in the near future, according to Minister of State for Financial Affairs Obaid Al Tayer. “If you’re referring to the next five years, we don’t see anything [about] increasing the VAT rate of the excise tax,” Al Tayer told reporters at the Arab Fiscal Forum, according to Arabian Business.VAT was introduced at the start of 2018 at 5%.“I also want to confirm that there aren’t any subsidies or any ...

Dubai’s World Government Summit kick starts with focus on happiness

Sunday, 11 February 2018

The sixth edition of Dubai’s World Government Summit kick started with a focus on happiness where the founder of the World Database of Happiness, Professor Ruut Veenhoven, spoke about how happiness can be measured by countries, Gulf News reported.Veenhoven discussed the findings of the database, more interestingly, that the level of happiness in most countries has generally increased even though income inequality has also increased.“That illustrates that income isn’t everything ...

When India PM Modi beckoned all and sundry to the opulent Dubai Opera House

Sunday, 11 February 2018

Dubai’s usual morning traffic snarl appeared to have started early on Sunday morning to accommodate the extra rush expected because of Indian Prime Minister Narendra Modi's community reception in the UAE.‎ The atmosphere was made festive by the inauguration of a temple in Abu Dhabi which was done via livestream from Dubai. As Indians - and some non-Indians too - from all walks of life converged on the opulent Dubai Opera House, they expected another rock-star reception that has become ...

In a first, India oil consortium gets stake in Abu Dhabi’s offshore Lower Zakum

Saturday, 10 February 2018

In a historic agreement, during Indian Prime Minister Narendra Modi’s visit to the UAE, a consortium of Indian oil companies were awarded a 10 percent interest in Abu Dhabi’s offshore Lower Zakum concession. The signing was witnessed by Prime Minister Modi and and Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, and Deputy Supreme Commander of the UAE Armed Forces. The concession award to the Indian consortium, marks the first-time Indian oil and gas companies have been ...

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