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Press Dossier   By Date  06/06/2023
New speed limit announced on Abu Dhabi road; change takes effect on June 7
Starting June 7, Abu Dhabi will implement a new speed limit on Umm Yafina Street from Al Reem Island to Sheikh Zayed Road (Al Qurum).
UAE corporate tax: Ministry clarifies tax on real estate, immovable property
The UAE’s Ministry of Finance on Monday issued a clarification under which foreign companies and other non-resident juridical persons will be subject to nine per cent corporate tax on income earned from real estate and other immovable property in the UAE.
Saudi Arabia, Egypt sign MoU to bolster bilateral trade
Bilateral trade between Saudi Arabia and Egypt is set to grow after an agreement was reached to enhance economic cooperation — with a key focus on developing the non-oil export sector.
Saudi Arabia to build commercial project worth $1bn in Baghdad
Saudi Arabia has signed a contract with Iraq to establish a commercial project worth $1 billion in Baghdad, bolstering the economic ties between the two nations, reported the Iraqi News Agency.
Saudi Arabia’s non-oil sector growth steady as PMI clocks 58.5 in May
Saudi Arabia’s non-oil sector posted substantial momentum in May according to a business survey, as the Kingdom’s economic diversification strategy continues to progress.
Saudi-British business delegations meet to bolster intra-regional trade
Intra-regional trade between Saudi Arabia and the UK is set to receive a boost as top ministers from both countries held talks in London to strengthen economic ties.
Qatar’s budget surplus hit $5.4bn in Q1 exceeding expectations
Qatar registered more than two-thirds of its expected 2023 budget surplus in the first three months of the year thanks to a large inflow of oil and gas revenues, the country’s Finance Ministry has revealed.
Kuwaitis head to vote again
Kuwaiti voters head to the polls on Tuesday for the third time since December 2020 to elect a new parliament they hope will put an end to almost two decades of non-stop political disputes, which have stalled development despite huge revenues from oil.
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