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United Arab Emirates

Union Coop posts record profit

Union Coop, the UAE-based supermarket chain, recorded its largest profit ever in 2017, posting a total revenue of Dh2.923 billion. Compared to 2016, last year saw a 19 per cent increase in shareholders’ equity from Dh2.150 billion to Dh2.511 billion, whilst the number of families associated with the group increased …

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Germany signs Expo contract

Germany has pledged to spend €50 million (Dh226 million) to build and run one of the largest national pavilions at Dubai Expo 2020 after signing its participation contract on Wednesday. The budget also covers an allocation for cultural events throughout the duration of the Expo and takedown of the pavilion …

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Probe over businesses’ misuse of VAT

A total of 164 tickets were issued to unscrupulous businesses, which manipulated the value added tax (VAT) to excessively increase prices, over the last two months, Sultan Bin Saeed Al Mansouri, Minister of Economy, told the Federal National Council on Tuesday. Al Mansouri, who is also Chairman of the Supreme …

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UAE leads the world in 50 indices

The UAE has been rated number one globally in 50 indices covering vital community and service sectors, according to the Global Competitiveness Index 2017-2018. The UAE led in the region and the world in various indices including the quality of government decisions, the government’s ability to adapt to changes, the …

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Sharjah airport gets into expansion mode

Sharjah airport is planning a massive expansion of its passenger terminal in the next four years, which will increase the capacity of Sharjah International Airport to 20 million passengers by 2027. This was announced during the Smart Travel Initiative event held on Wednesday as part of the UAE Innovation Month …

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Bodour Al Qasimi promotes Mohammad Al Musharrakh to CEO of ‘Invest in Sharjah’

Shaikha Bodour Bint Sultan Al Qasimi, Chairperson of Sharjah Investment and Development Authority (Shurooq) has appointed Mohammad Juma Al Musharrakh to the position of Chief Executive Officer of the Sharjah FDI Office (Invest in Sharjah), the investment promotional arm of Shurooq. The promotion comes in recognition of Al Musharrakh’s “immense …

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71 Emiratis sign employment contracts

A total of 71 Emiratis have signed employment contracts and 859 were provided job offers and preliminary approvals during a recruitment event in Dubai organised by the Ministry of Human Resources and Emiratisation. The ministry said that 1,623 job seekers attended the three-day event, during which Emiratis were offered jobs …

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