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ADIB-Egypt, MasterCard grant free Gold bars to 47 winners
Published 2016-11-13 17:00:14| Amwal Al Ghad English
Abu Dhabi Islamic Bank-Egypt (ADIB) and MasterCard officials rewarded 47 lucky winners with gold bars during a ceremony held at ADIB’s headquarters in Omar Markam district, on Sunday October 16th, 2016.
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If 2016 has taught us anything, it’s that making predictions is an inexact science. There is much that has happened over the past 12 months that we would have been hard pressed to predict this time last year. The outcome of the Brexit vote in the UK caught many of my fellow citizens off guard, and I’ve heard from many of my American colleagues that they were similarly surprised by the results of their presidential election. In this new year, the first thing we should predict is unpredictability. It is not a failure of planning to admit that we don’t always know what we’re planning for. Many factors will always be beyond our control; planning to make the best of any situation is just good business. Yet not everything will come out of left field in 2017. Companies are already planning for new finance regulations such as IFRS 15, which will be fully in force next year. Increased scrutiny on multinational companies’ tax arrangements, accounting and transparency, will all increase in 2017. And digital transformation will continue at an ever-accelerating pace; change will continue so rapidly that 12 months will be a very long time in any business. With that, here are my personal predictions for finance leaders and professionals in 2017.
Egypt’s parliament gave a final approval on Monday to the implementation of the long-delayed value-added tax (VAT) at a rate of 13 percent for the current fiscal year. Parliament also increased the list of exempted goods and services to 56 from 52 items. In the next fiscal year, which starts in July 2017, the VAT rate will increase to 14 percent, according to the law, which Ahram Online obtained a copy of. The VAT aims at reducing tax evasion, as it will be applied to each member of the production chain of goods and services at the final retail stage, instead of the current sales tax that is imposed as a one-off on the final sale to customers.
The “UAE Reads” initiative will be launched next Monday under the directions of Sheikha Shamma bint Mohammed bin Khalid Al Nahyan. This cultural initiative is organised under the auspices of the Ministry of Interior, in partnership with the UAE University and the Mohammed bin Khalid Al Nahyan Cultural Center. It also coincides with the Abu Dhabi Book Fair and the “Abu Dhabi Reads” initiative. This event falls within the framework of the UAE’s ‘Year of Reading 2016’ initiative launched by Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE. Mohammed bin Khalid Al Nahyan will be taking part in the “World’s Largest Reading Hour”, along with more than 2500 ladies, female officials, decision-makers and students, at the UAE University’s main theatre in Al Ain at 2:00 p.m. The event will be attended by representatives of the Guinness World Records Organization, who will witness the UAE’s record attempt for the “Largest Reading Lesson.”
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The United Nations' World Refugee Day is observed on June 20 each year. This event honors the courage, strength, and determination of women, men, and children who are forced to flee their homeland under threat of persecution, conflict, and violence. “In countries where people have to flee their homes because of persecution and violence, political solutions must be found, peace and tolerance restored, so that refugees can return home. In my experience, going home is the deepest wish of most refugees.” Angelina Jolie said in an interview with BBC News on April 8, 2004. “No one leaves home unless home is the mouth of a shark.” Part of a poem ‘Home’ by Kenyan-born Somali poet Warsan Shire.
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