Colors: Orange Color

Commodities traded lower for a third consecutive week with metals both industrial and precious, as well as with soft commodities, on the receiving end of investor selling. Fortress energy also showed signs of weakness with crude oil, as highlighted last week, being hit by technical selling despite the news flow being predominantly price friendly.

To promote ease of doing business and to support its customers Jebel Ali Free Zone (Jafza), the GCC’s largest special economic zone, will become the first free zone in the country to return cash and bank guarantees to its clients through its new Workforce Protection Programme initiative that is set to roll out in September of this year. The move will provide added benefits to employees and infuse AED 1.3 billion back into Dubai’s economy that companies can invest in their operations and strengthen their businesses.

Entrepreneurs' Organization (EO) UAE, the local chapter of the dynamic global network of entrepreneurs, reported that its members experienced a seamless transition to VAT this week. This smooth period was attributed to the group’s efforts in 2017 to offer world-class peer-to-peer learning platforms and a selection of different UAE workshops hosted by local taxation experts, to help members understand and comply with the new regulations.

Most Read