UAE firms urged to start preparing for corporate income tax Although corporate income tax goes does not come into effect until June 2023, organisations in the UAE need to understand what it means for them and hire resources early as the talent ‘race’ hots up. That’s the view of Jay Riche, Tax Strategy and Transformation […]
New body aims to increase trade between India and the EU India and the European Union have announced the setting up of the India-EU Trade and Technology Council, with the aim of tackling the key trade, economic and technological challenges that lie ahead. India’s Prime Minister Narendra Modi and European Commission President Ursula von der […]
UAE trade deal with India launches on 1 May The much-lauded Comprehensive Economic Partnership Agreement (CEPA) between the UAE and India will come into effect on 1 May, providing significant benefits to Emirate and Indian businesses, including better market access and reduced tariffs. To help organisations understand what the new deal will bring the UAE’s […]
Malaysian SMEs set to turn their backs on traditional banks Malaysian banks are at risk of losing SME business to non-traditional competitors, according to analytics company Fico. Based on research by RFI Global and the SME Banking Council, Fico’s report highlighted that 57% of Malaysian SMEs are expected to access new or alternative borrowing products […]
10 million people leave Indian workforce Indian workforce shrank by six percentage points from 445 million to 435 million workers over the past six years, according to data from The Centre for Monitoring Indian Economy. Only 40% of Indians of legal working age were employed or were looking for employment in 2021-22. By comparison, […]
Malaysian government considering bringing back GST Malaysia’s Finance Ministry is looking at re-introducing the goods and services tax (GST) in place of the existing sales and service tax (SST), and is studying other possible taxation models. It has cited the weaknesses of the SST and is considering the implications of bringing back GST. Economist Manokaran […]
States must rein in spending, says State Bank of India report Many states across India are over-spending and need to re-prioritise their expenditure when they lose their central government hand-outs in June, according to a report by the State Bank of India. Currently, the states receive GST compensation from the government – in some cases […]
Foreign investors show renewed interest in Abu Dhabi Abu Dhabi issued 25,427 new economic licenses in 2021, a 21.5% increase on the 2020 figure of 20,925, according to the 2021 Business Activity Report published by the Abu Dhabi Business Center at the Abu Dhabi Department of Economic Development (ADDED). And the number of new licenses […]
Indian jobs market posts positive numbers in March The Indian labour market saw a sharp recovery in March, with the number of people in work rising 18.4% year-on-year as restrictions eased and economic activity picked up, according to data from business process services provider AllSec Technologies. The travel and hospitality sector, which has been one […]
