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SAUDI ARABIA EMARATES BAHRAIN KUWAIT OMAN QATAR

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Press Dossier

By Date

20/02/2023

	UAE: How investments are protected if your name is not mentioned on trade licence Question: I have invested in a company in mainland Umm Al Quwain, but my name is not mentioned on the trade licence. What kind of legal protection do I have as an investor?
	UAE flights: Emirates' new $135-million pilot training centre to increase training capacity by 54% Emirates will soon build an advanced training facility to accommodate 6 Full Flight Simulator Bays (FFS) for its future Airbus A350 and Boeing 777X aircraft. The brand new, 63,318 sq. ft. facility is slated to open in March 2024.
	UAE: Do you need to pay corporate tax on the unrealised gains and losses? The UAE’s corporate tax law (UAE CT law) requires taxable persons to calculate their taxable profits by applying an indirect approach. The indirect process entails preparing financial statements per applicable accounting standards and adjusting the accounting profits to arrive at the taxable profits.
	Closing bell: Saudi bourse sheds 55 points as food index takes a hit Saudi Arabia’s Tadawul All Share Index on Sunday lost 55.28 points — or 0.52 percent — to close at 10,493.17.
	Saudi Aramco’s Luberef proposes cash dividend as profit climbs 32% to $530m in 2022 Saudi Arabian Base Oil Co., also known as Luberef, recorded SR1.97 billion ($530 million) net profit after Zakat and tax in 2022, registering a 32 percent increase over the previous year.
	Global investment in carbon capture and storage projects hit $6.4 bn in 2022: KAPSARC official The volume of global investment in carbon capture and storage projects has hit $6.4 billion in 2022, said Fatih Yilmaz, an expert in the Climate and Sustainability Program at the King Abdullah Petroleum Studies and Research Center.
	Saudi Arabia’s venture capital funding nears $1 billion mark Driven by Saudi Arabia’s unprecedented growth in its startup ecosystem, the Kingdom’s venture capital funding increased by 72 percent last year compared to 2021 with investments reaching $987 million across 144 deals, according to MAGNiTT.
	Demarcation of maritime borders with Iraq urged MP Khaled Al-Otaibi called on Sunday for demarcating maritime borders with Iraq to serve the national interests of the country, as the foreign minister is scheduled to hold technical and legal talks with an Iraqi delegation.

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