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A.M. Best Briefing: VAT Implementation Poses Significant Challenges for GCC Insurers

May 28, 2017 UAE Business 0

Uncertainty persists as to when precisely Value Added Tax (VAT) will be introduced in the member states of the Gulf Cooperation Council (GCC), and the process surrounding a roll-out. However, given the fiscal pressures in the region, the introduction of taxation seems inevitable and could cause short-term cash-flow issues for insurers. Read more

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Auger Torque, UK-based global engineering equipment manufacturer, sets up operations in UAE, GCC, following business partnership with United Motors Heavy Equipment

April 18, 2017 UAE Business 0

Newly formed company Auger Torque Middle East is set to bring in innovative technologies to the construction and infrastructure segment in the UAE and the wider GCC region. The launch will take place in Abu Dhabi on 25th April 2017, with support of the Department of International Trade (part of the British Embassy UAE). Read more