UAE NEWS

Key Abu Dhabi road gets new speed limit from January 24

Key Abu Dhabi road gets new speed limit from January 24

UAE NEWS
The new speed limit came into effect from January 24, 2018. The speed limit at Al Mafraq- Al Ghuwaifat international highway has been set to 160km/hr. The Abu Dhabi Police announced on Tuesday morning that radars on Al Mafraq- Al Ghuwaifat international highway will catch light vehicles at the speed of 161 km/hour. The new speed limit came into effect from January 24, 2018. Early this year, the speed limit for the road was set to 140km/hr but has now been increased to 160km/hr.   أعلنت القيادة العامة لشرطة أبوظبي عن تعديل السرعة للمركبات الخفيفة على طريق الشيخ خليفة بن زايد من بعد جسر المفرق إلى الغويفات بـ160 كم في الساعة وضبط سرعة الرادار على 161 كم في الساعة اعتباراً من تاريخ 24/1/2018 من الساعة الثامنة صباحا وذلك تطبيقاً لأولوية جعل الطرق أكثر أمنا وسلامة،
From Dh570, Dubai Filipina’s salary jumps to Dh6,000 in 4 years

From Dh570, Dubai Filipina’s salary jumps to Dh6,000 in 4 years

UAE NEWS
Dubai has helped her achieve her dreams, she says. Jamila Millar Velasco, a Filipina, came to Dubai in August 2014, with an aspiration to land a job and an inkling that the bustling city would not let her down. She quit her meagre-paying job of P8,000 to P10,000 (Dh570) in Philippines and came to the UAE on a month-long visa sponsored by her mother. Though it was a not a cake walk, Velasco was finally able to get a lucrative writing job in the UAE after two months of rigorous job-hunting. She started working full-time in a company that caters to clients in the Middle East, Asia, and Africa and was elated to draw a monthly pay of Dh6,000 (approx P82,000) per month, according to Cosmo Philippines. From earning only Dh570 in Philippines to drawing Dh6,000 a monthly, Velasco has come a lon...
No VAT on realty transactions in designated zones in UAE

No VAT on realty transactions in designated zones in UAE

UAE NEWS
Sale or lease of any real estate property - commercial or residential - will be considered as outside the scope of VAT. Sale and lease of both commercial and residential properties in designated zones will be outside the scope of VAT, according to the latest clarification issued by the Federal Tax Authority (FTA) at a meeting with a group of tax consultants in the UAE. "Sale or lease of any real estate property - commercial or residential - will be considered as outside the scope of VAT. Hence, there will be no VAT applicable on sale or lease of commercial or residential real estate properties in designated zones. Furthermore, the payment of five per cent VAT on purchase of commercial property in non-designated zones can be made directly by the buyer to FTA and the commercial property ...
Dubai introduces innovation fees for government transactions

Dubai introduces innovation fees for government transactions

UAE NEWS
As per Law No. 01 of 2018, the Knowledge Dirham Fee will be levied on all transactions for government services in Dubai. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE, in his capacity as Ruler of Dubai, has issued Law No (1) of 2018 on the Knowledge Dirham Fee, and Law No (2) of 2018 on the Innovation Dirham Fee. As per Law No (1) of 2018, the Knowledge Dirham Fee will be levied on all transactions for government services in Dubai, including federal government services whose revenues are allocated to the Public Treasury of the Government of Dubai. Law No (2) of 2018 on the Innovation Dirham Fee aims to support innovation-related projects and involve the public in supporting innovation. As per the law, Dubai government entities will ...
Some GCC countries could double VAT to 10%: Report

Some GCC countries could double VAT to 10%: Report

UAE NEWS
The report, however, didn't say by when the GCC governments could hike the tax rate. Some GCC countries could double VAT rate to 10 per cent mainly due to discrepancy between five per cent statutory and effective tax rate, says a new study released on Sunday. "We project that the regional VAT rollout would push up government revenues on average by about 1.7-2 per cent of GDP, based on a collection-efficiency ratio of 50-60 per cent. A ratio in this range would reflect an effective tax rate of 2.5-3 per cent, lower than the 5 per cent statutory rate, owing to expected administrative inefficiencies and the ability countries have to exempt and zero-rate selected sectors," international ratings agency S&P said in a note on Sunday. Trevor Cullinan, an analyst with S&P in Dubai, n...
UAE increases petrol, diesel prices for February

UAE increases petrol, diesel prices for February

UAE NEWS
According to the Ministry, all the prices are inclusive of five per cent Value Added Tax. In line with international rates, fuel prices in the UAE has been raised for February 2018, an increase for the third consecutive month. As per new rates, 98 Unleaded gasoline price has been increased by 5.3 per cent to Dh2.36 while 95 Unleaded gasoline will cost Dh2.25 next month, an increase of 6.1 per cent. 91 Unleaded Gasoline price for February has been raised to Dh2.17 from Dh2.05 in January, which is an increase of 5.85 per cent and the diesel price has been increased to Dh2.49 from Dh2.33 per litre. According to the Ministry, all the prices are inclusive of five per cent Value Added Tax. INTERACTIVE: Fuel Price in UAE, How much do you pay every month? Fuel prices have reached a...
Oman temporarily halts expat visas for 87 jobs

Oman temporarily halts expat visas for 87 jobs

UAE NEWS
Several industries are affected. Oman has temporarily halted issuing visas to hire expat workers in 87 job roles. The six-month hiring freeze was recently imposed by the country's Ministry of Manpower. According to the Times of Oman, the ban came into effect following the issuance of ministerial decree 2018/38, which was issued by the minister of manpower Abdullah bin Nasser Al Bakri on Sunday morning. Below are the jobs roles affected by the suspension. Information and Technology 1.Information Security Specialist 2.Geographic Information System Specialist 3.Electronic Computer Networks 4.Programmed Machines Maintenance - Electronic 5.Electronic Calculator Maintenance 6.Graphic Designer 7.Electronic Surveillance - Equipment Assembly 8.Electronics Technician ...
New job vacancies at Expo 2020 Dubai: How to apply

New job vacancies at Expo 2020 Dubai: How to apply

UAE NEWS
Expo 2020 is looking for people to join the team and is keen to tap the best of world-class talent. Expo 2020 Dubai is all set to welcome the world to connect minds and create the future, when it opens its doors on 20 October, 2020. This will be the first World Expo to take place in the Middle East, Africa or South Asia and bring a multitude of opportunities for businesses in construction, real estate, hospitality, tourism and aviation industries, and contracts worth billions of Dirhams will be signed. Expo 2020 will brighten job prospects in legal, tax and accounts, finance, and human resources fields, especially in pharmaceutical, FMCG, retail, hospitality, construction and boutique investment firms. To host event of such magnitude and ensure its success, Expo 2020 is looking for ...
16-year-old boy stabs 13-year-old to death in Dubai

16-year-old boy stabs 13-year-old to death in Dubai

UAE NEWS
The 13-year-old had allegedly abused his family, angering the teenager. A 16-year-old boy was arrested by the Dubai police for stabbing to death a 13-year-old boy during a brawl in Al Qusais area. A group of youngsters were involved in a brawl and trashed a boy who was playing with his bicycle near his house. The suspect stabbed the teenager in his chest and fled the scene. The victim, soaked in blood, tried to reach his house but collapsed on his way. Unconscious, he was rushed to the hospital but passed away in the ambulance. The Dubai police confirmed that the competent security services have already begun preliminary investigations to check the circumstances of the murder. The police further said that the16-year-old confessed and surrendered himself at the Al Qusais police...
Now, pay ad bills in cryptocurrencies

Now, pay ad bills in cryptocurrencies

UAE NEWS
IBC Group buys into Acumen Advertising, which will now accept payments in digital currency The meteoric rise of cryptocurrencies has dominated headlines, sent investors' heart rates spinning and baffled naysayers. Despite the risks associated with new digital units, the trend is gaining momentum in the UAE. Dubai-based fintech group International Blockchain Capital (IBC) Group bought into homegrown media brand Acumen Advertising as part of the group's diversification plans for 2018, the latest in the UAE to join the bandwagon of cryptocurrencies. It has announced that Acumen Advertising will now accept payments in digital currency. The investment is the first of its nature within the media and marketing space in the region and is geared to give way to greater adoption of the blockchain...