Other Briefings
The Middle East, Asia To Have Highest Annual Export Growth in 2024: World Trade Organisation
The Middle East and Asia are slated to see the fastest annual growth in merchandise exports in 2024, in line with the positive trend in the macroeconomic growth prospects in the regions, according to the World Trade Organisation (WTO). In its most recent Global Trade Outlook and Statistics report, the WTO said the Middle East […]
UAE New Tax Regime Allows Corporate Losses To Be Carried Forward Against Future Profits
The UAE’s Ministry of Finance has given approval for businesses to use losses (from the date of the introduction of corporate tax) incurred to reduce their taxable income in subsequent financial periods. The MoF has stated that excess tax losses can be carried forward and applied against future taxable income – as long as certain […]
UAE, Israel, Sign Free Trade CEPA Agreement
The UAE and Israel have ratified a free trade agreement, reducing or removing tariffs on about 96% of goods traded between the nations, Israel’s Foreign Ministry has said. The two countries first reached the agreement last May, promising to boost bilateral trade after they normalized ties in 2020 in a U.S.-brokered deal under the Abraham […]
Iran-Turkiye Bilateral Trade Reaches US$921 Million In 2M 2023
Turkiye’s Statistical Department has announced that the countries bilateral trade volume with Iran in the first two months of the current year (January-February) has reached US$921 million.
Foreign Investors In UAE FTZ Must Pay Attention To Upcoming Tax Regulatory Changes
Special attention will be paid by the UAE tax authorities to the new ‘anti-abuse rules’ Foreign investors in the UAE, and especially those operating out of Free Trade Zones or with a base on the UAE ‘mainland’ may need to think about potential tax restructures to their businesses in order to properly absorb the upcoming […]
Iraq Becomes Part Of TIR Transport Convention
Iraq, sitting at the crossroads of multiple Middle Eastern trade routes, has become the 78th country to accede to the United Nations TIR Convention. Iraq’s accession to the TIR anchors its strategic role as a transit hub and supports the country’s economic vision to expand its non-oil sectors. The TIR is the world’s only global […]
China Conducts First LNG Purchase In RMB Yuan With United Arab Emirates
China has conducted its first liquefied natural gas (LNG) purchase settled in Yuan, the Shanghai Petroleum and Natural Gas Exchange announced on Tuesday. The trade involved around 65,000 tons of LNG imported from the United Arab Emirates, according to the exchange.
Dubai Introduces A Metaverse Dispute Arbitration Platform
The Dubai International Arbitration Centre (DIAC) is putting up a Metaverse dispute resolution platform, where those involved in the dispute can get onto the Metaverse platform and participate in finding a resolution – from wherever they might be in the world.
Saudi Arabia Confirms It Has Joined The Shanghai Co-operation Organisation
In another twist in the developing geopolitical evolution of East vs. West, Saudi Arabia has approved a decision to join the Shanghai Cooperation Organisation (SCO), a political and security union of countries spanning much of Eurasia, including China, India and Russia.
Iran Developing As A Regional Freight Rail Hub
The Iranian Ministry of Roads and Urban Development has stated that 1.34 million tons of cargo transited through Iran’s railway lines, during the first 11 months of the last Iranian year (March 21, 2022 through February 19, 2023), implying an annual volume of about 1.46 million tons exported from Iran to other markets.
