Microsoft today revealed plans to deliver the intelligent, trusted Microsoft Cloud from its first datacentres in the Middle East – located in Abu Dhabi and Dubai. The Microsoft Cloud, comprising Azure, Office 365 and Dynamics 365, will offer enterprise-grade reliability and performance,...

The total earnings of commercial banks headquartered in the capital reached Dh25.53 billion by the end of 2017, accounting for 82.8 percent of the total earnings accrued, with Islamic banks posting 17.2 percent thereof, a Wam news agency report said. The fourth quarter of 2017 witnessed the...

Bankers say that the ban on virtual currencies is aimed at protecting their customers from falling prey to frauds Banks in the UK and the US have also banned use of credit cards to buy Bitcoin and other cryptocurrencies, fearing plunge in their value will leave customers unable to repay...

Not displaying tax-inclusive prices carries a $4,087 fine for each tax: authorities ABU DHABI - The Federal Tax Authority, FTA, has asserted that all businesses subject to Value Added Tax, VAT, and Excise Tax must display prices of goods and services inclusive of tax in order to avoid...

Kone Corporation, a global leader in the elevator and escalator industry has won the order to supply 46 elevators and five escalators for ICD Brookfield Place in Dubai, UAE. The 54-storey, 282-m-high ICD Brookfield Place, will contain more than 950,000 sq ft of Grade A office space and...

The value of the UAE Central Bank’s reserves of gold bars rose to around Dh1.2 billion ($326.71 million) at the end of January, an increase of Dh48 million, or 4.1 percent, compared to Dh1.152 billion in December 2017. Statistics issued by the bank yesterday showed that its reserves of gold...

The emirate has won accolades in the best 'personal security' category in the Destination Satisfaction Index. Abu Dhabi has been selected as the most secure destination for travellers, the Abu Dhabi Police said on Sunday. The emirate has won accolades in the best 'personal security'...

Technical committees still meeting to ensure links between projects remain valid A plan to develop a rail network linking all six members of the Gulf Cooperation Council (GCC) could face delays in meeting its 2021 deadline, according to a leading official from the council’s executive arm,...

The GCC already has notifications that ban the import of e-cigarettes. The UAE is working on regulations to stop the illegal import of e-cigarettes, following which people who bring the product to the UAE or order them online will be held accountable, said a senior health official....

UAE's diversified economy would grow at 4 per cent on the back of higher spending and rise in oil prices The outlook of UAE banking sector is getting brighter on the back of solid liquidity and robust credit growth as the industry is set for a double-digit surge in net profit in 2018,...