Shaikh Khalifa Bin Zayed Al Nahyan, the President of the UAE, has issued the Federal Decree-Law No 8 of 2017 for Value-Added Tax (VAT) at a standard rate of five per cent, which will be imposed on the import and supply of goods and services at each stage of production and distribution including what is deemed to be a supply
Technology
Runecast Analyzer 1.6 delivers automation VMware integration and security compliance
Runecast has announced the availability of version 1.6 of Runecast Analyzer. Runecast Analyzer 1.6 will be showcased on Runecast booth number 832 at VMworld, Las Vegas, Mandalay Bay Hotel and Convention Center, 27-31 August
Saudi Arabia to launch second local currency sukuk programme
Saudi Arabia plans to launch its second local currency sukuk issuance next week, beginning 20 August
Saudi Arabia halts commercial and working visit visas for UAE Muslim residents during Hajj
Effective 7 August 2017, Muslim residents in the UAE are unable to apply for commercial and working visit visas for Saudi Arabia as consular processing is suspended during the busy Hajj season
Mashreq announce advanced banking wallet, MashreqPay
Mashreq Bank has announced the launch of MashreqPay - a digital mobile wallet providing secure easy-to-use payment for purchases, anywhere in the world where cards are accepted and the merchant terminal has NFC (near-field-communication) capability