The 39th MidEast Watch & Jewellery Show in the UAE will have 50 percent more floor space, with 30,000 sq m, compared with 20,000 sq m in past editions. The sharp drop in gold prices is expected to generate strong intertest in a region known for its gold jewelry purchases, say organisers. The show takes place from October 6 to 10.
The UAE is making headway in setting up a federal tax system to bolster government revenues, a senior Ministry of Finance official said on 2 July. The drafting of laws for introducing corporate tax and value-added tax (VAT) is expected to complete in the third quarter of this year.
Australia has officially withdrawn its bid to be the KP Vice Chair to Angola, leaving the door open for United Arab Emirates to become Vice Chair. Australia and UAE signed a bilateral agreement stipulating certain commitments made by UAE with regard to the KP. Foremost among them is that UAE will host a KP review visit commencing 27 September 2015.
Speaking to the press on 29 June, chairman of the Kimberley Process Bernardo Campos said it came as a big surprise to the delegates that Australia reported to the plenary its willingness to withdraw its candidacy for Vice-Chair. Bernado Campos added that this was a significant result that will be announced officially soon. After Australia's decision, the United Arab Emirates will be officially announced as the only candidate for Vice-Chair of the KP. The official announcement is still pending. The country elected Vice-Chair will assume the Chairmanship in 2016.
Members of the Kimberley Process were apparently unable to make progress in reaching a consensus decision at the organization's Intersessional meeting in Luanda. The vote on whether Australia or the United Arab Emirates should be elected the deputy chair has been postponed to the Plenary meeting to be held towards the end of this year, said World Diamond Council President Edward Asscher.
The Indian Consulate in Dubai has urged expats to follow due procedure and get export certificates before exiting U.A.E. "Indian expats can easily travel in and out of India with gold jewellery if they follow due procedure", the Indian Consulate in Dubai has clarified. In recent months, Indian expats have been complaining about ‘harassment’ by customs officials at Indian airports who force them to pay heavy duties or to leave jewellery behind in lockers.
The luxury guitar created by UAE firm Lifestyle Jewellery sets a new Guinness World Record for the world’s most valuable coronet diamond guitar. Called the Eden of Coronet, the guitar is set with more than 400 carats of diamonds set in 1.6kgs of 18K gold.
The United Arab Emirates is considered one of the most stable countries in the Middle East, with an international reputation as a business centre and tourist destination. But behind the glitz and glamour it tolerates no dissent, Gulf expert Christopher Davidson writes.