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The $30-billion lighting industry hasn’t changed much since Thomas Edison invented the incandescent bulb in 1879. While fluorescents made their mark in recent decades, most people were turned off by their pale glow and had concerns over quality.
Enter Joseph Dobosz, president of Lexicon Technologies International in Shelby Township, who has developed a series of LED bulbs that are as much as 95 percent more energy-efficient than other light sources. Combine federal and utility incentives with a product manufactured in the U.S. — Lexicon will move some of its production from Tampa to Shelby Township in the coming months — and you have what Dobosz calls “explosive growth.”
“Energy-efficiency is the low-hanging fruit for controlling costs, improving energy independence, and reducing the environmental impact of incumbent light sources,” Dobosz says. The company, with 45 employees, got its start in 2009 after it was spun off from a plastic resin business Dobosz also operates in Shelby Township — Advanced Resources Inc.
While prices vary and generally cost more than traditional bulbs, a Lexicon LED bulb can run for 50,000 hours or more compared to a halogen bulb, which lasts around 2,000 hours. “Our bulbs pay for themselves in six months to a year,” Dobosz says.
Recently, Nino Salvaggio International Marketplace, with locations in Clinton Township, St. Clair Shores, and Troy, replaced nearly all of its halogen and incandescent bulbs with Lexicon’s LED lamps. The switch was complemented by upfront cash incentives from DTE Energy.
“In addition to reducing the heat directed at our products, we’ve had the added benefit of decreasing our air conditioning and refrigeration costs,” says Kirk Taylor, Nino’s president. “Even more important for the future of our environment, these lights have no toxic mercury. It was a major win for us.” db — R.J. King


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By the year end you may be consuming the meat grown in the laboratories at ur favourites restaurant joints claimed a manufacturer.
You may be consuming meat grown in laboratory by year end
Some believe the process could be the key to reduce global warming and some say it could lower harmful greenhouse emissions by 96%.
And the first products could be available for human consumption within months. Chicken nuggets, sausages and foie gras created using technique could be served in restaurants in the USA and ASIA before the end of 2018. Said the sources to CNN.

domain: news


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According to Jason Considine, Chief Commercial Officer at Experian Health, mounting financial pressure on consumers could lead to more patients missing healthcare payments. “Federal aid packages are being unwound, the country’s opening back up so people are spending money on things they weren’t spending money on before, and to compound that problem, we have inflation coming in at levels we haven’t seen in decades,” Considine said in a recent interview with PYMNTS. “That’s going to have an impact on consumers.” As households continue to feel the strain from rising inflation and other factors, providers need to embrace price transparency and move quickly to implement digital patient payment solutions and get ahead of growing medical debt.
Expedite payments with transparent pricing
The first task for providers is to make it easier for patients to plan for their medical bills by sharing cost information in advance. Among Experian Health’s clients, Considine has noticed increasing investments in tools that provide clear, upfront patient estimates.
“Historically, this has been an area where providers haven’t met the needs of consumers. As patients, we’ve always wanted estimates. This is not a new thing… but providers are getting better at this, and regulation is helping. We’ve seen an acceleration, though there is certainly a long way to go.”
Patient demand and price transparency regulations (like the No Surprises Act) are driving faster adoption of patient estimate technologies. However, providers need to go further than simply providing price estimates. Providers need to be proactive in helping them access and understand those estimates. In a recent survey by PYMNTS and Experian Health, 15% of patients said they run into challenges when obtaining accurate cost estimates for appointments and procedures. While the technology is there, patients aren’t always using the tools. Only 6% of patients with access to patient portals (that included access to cost estimates) said they knew the cost of care in advance. Providers need to cater to their customers and help remove hurdles that stand in the way.
Experian Health’s patient estimate solutions go beyond simply providing estimates. These solutions give patients clear breakdowns of their expected out-of-pocket expenses, delivered online or by text message. They also connect patients to information about financial assistance options and payment plans and close the payment loop with direct links to pay.
Clear up coverage confusion by identifying insurance early
Another way to eliminate consumer confusion is with tools that help identify any missing or undisclosed insurance coverage, so payers and patients are billed correctly the first time. Considine says, “Oftentimes patients don’t understand their healthcare insurance. It’s quite complex and they may not know if it covers certain services. There are also a number of reasons why providers don’t collect the right insurance information during the registration process. There are tools available to make sure you’re actually billing the insurance when insurance coverage is available. That’ll increase the likelihood of payment and reduce pressure on consumers.”
One example is Experian Health’s Coverage Discovery solution, which checks for any coverage eligibility early on and often throughout the patient journey. Providers get paid faster, avoid the collections challenges of self-pay receivables, and ease consumer frustrations about confusing coverage arrangements.
Cater to consumers with patient-centered payment plans
Considine says patients will gravitate towards the most convenient financial experiences, where they can get an understanding of what they owe before coming in, easily enroll in payment plans, store credit cards on file, and find easy ways to pay and engage with their provider online.
When it comes to payment plans, the data is available to help providers guide patients toward the most appropriate financial pathway. Considine notes that leveraging data to make smarter decisions helps consumers and patients alike. If the data shows that a patient is eligible for financial assistance, they can avoid unnecessary bills, which makes for a great patient experience. “And if the patients do need a payment plan, we can know that ahead of time and offer the right payment plan based on their financial disposition.”
By simplifying the financial journey with patient-centered payments, providers can ease pressure on consumers, avoid lost revenue and foster patient loyalty.
Get paid faster by providing easy ways to pay
After clarifying the amounts to be paid, checking for available coverage, and determining the right payment plan, the final piece in the patient payments puzzle is the payment process itself. COVID-19 accelerated the use of digital payment tools. According to Experian Health and PYMNTS research, a quarter of consumers used digital methods to pay for their most recent healthcare visits, with 14% choosing to pay through patient portals. Providers that offer a range of flexible payment options and give digital-first patients a seamless consumer experience are going to stand out from the competition. Digital patient payment solutions are now table stakes.
Act now to protect against a wave of medical debt
While the impact of inflation over the coming year remains to be seen, Considine says that providers should move now to invest in technologies that offer convenience, flexibility and transparency to patients. “All of those things are going to expedite payments for providers and help reduce pressure on consumers, but I wouldn’t wait. These solutions can typically take a little bit of time to get implemented, and then adopted by patients, so the time is now for providers to get ready, prepare and implement these technologies.”
Download Experian Health and PYMNT’s joint report, Accessing Healthcare: Easing Digital Frictions in the Patient Journey, to discover more about how patients are using digital patient payment solutions and opportunities to expedite healthcare collections.


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Artificial intelligence spending in Europe will reach $34.2 billion this year, representing 20.6% of the worldwide AI market. AI spending in Europe will post a 29.6% compound annual growth rate (CAGR) between 2022 and 2027, slightly higher than the worldwide CAGR of 26.9% for the same period, with spending expected to exceed $96.1 billion in 2027, International Data Corporation (IDC) says in a forecast. “In an uncertain economic environment, where inflation is playing a key role in investment decisions, the AI market is still growing healthily, supported by demand for generative AI (GenAI) technologies.”
Digital humans, satellite communications, tiny ambient IoT, secure computation and autonomic robots are five technologies that will transform the digital future for business, according to market research firm Gartner. Digital humans are described as “interactive, AI-driven representations that imitate some characteristics, personality, knowledge and mindset of a human.”
Cyber attacks are expected to further increase as a criminal threat affecting the EU. Cybercriminals are likely to further embrace new technologies and maximise the reach of their services, with sensitive data as a core target. The crime-as-a-service ecosystem will further develop in order to service a wider criminal base, Europol says in a report on cyber crime.
The news industry is well underway to organise self-regulation on how to use artificial intelligence. Leading publishers are setting up strategies to address crucial AI aspects and they broadly address AI along similar lines. These are conclusions in a study by Oxford University of AI guidelines from 52 publishers in 12 countries around the world.
The absence of women in the emerging artificial intelligence industry has already had an adverse impact on how well this technology supports women and responds to their needs, UN women says in a report. “ Challenging social biases, increasing women’s education and expanding women’s participation in STEM are all vital to transforming information and technology so that it works for gender equality.“


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For post-live-blog coverage, see: Nissan Unveils Redesigned 2018 Nissan Leaf With 400 km Range, ProPilot Autonomous Driving Features
Nissan is set to unveil the highly anticipated 2018 Nissan LEAF on September 5th at 5:30pm Pacific Time | 8:30pm Eastern Time. Steve Hanley and I (Kyle Field) will be livestreaming the event here. If you want to watch along with us, scroll down to the bottom to view the YouTube stream yourself.
5:27 pm Pacific, Kyle Field: Nissan is teasing us with the profile shot of the new LEAF as the event nears.
5:29 pm Pacific, Kyle: Just under 2,500 people are watching the YouTube stream
5:30 pm Pacific, Kyle: We are live!
5:32 pm Pacific, Steve Hanley: Do you remember when the journey WAS the adventure?
5:34 pm Pacific, Steve: Blackout roof for sporty appearance?
5:34pm Pacific, Kyle: The new LEAF is out on the stage! At first glance, it looks a lot like the Faraday Future FF91.
5:38 pm Pacific, Steve: V2G capability — Smart grid — that’s a big deal! SUV styling. Looks nicer than Bolt? More room for stuff than Model 3. Looks a lot nicer than original LEAF.
5:40 pm Pacific, Kyle: This translator is banging out the script at 100 miles per hour. Not sure if the LEAF could even keep up. Phew!
5:41 pm Pacific, Steve: 400 km range. Single-pedal driving! (see our previous coverage on the e-pedal single pedal driving)
5:42 pm Pacific, Kyle: “The new Nissan Leaf is not an EV.” Instead, Nissan views the LEAF as a transformative step towards the future of mobility.
5:44 pm Pacific, Steve: More than an EV, moving people to a better world and makes their lives better.
5:45 pm Pacific: “Nissan is not just a dreamer. Nissan is a doer.”
5:46 pm Pacific, Steve: 3 pillars: 1. Intelligent driving 2. Intelligent power — cleaner and more efficient. 3. Intelligent integration
5:46 pm Pacific, Steve: Best selling EV in world — sold in 49 markets — 3.5 billion kilometers driven.
5:47 pm Pacific, Kyle: Over 5,300 viewing the stream live on YouTube. Nissan starts talking ProPilot, its autonomous driving technology suite.
5:48 pm Pacific, Kyle: “You will enjoy [a] natural driving experience as if the EV were being driven by someone”
5:49 pm Pacific, Steve: ProPILOT — includes self parking and parking in garage. E-pedal has hill holder feature — true one-pedal operation.
5:52 pm Pacific, Steve: Emergency front collision braking. 40 kWh battery, 110 kW motor.
5:53 pm Pacific, Kyle: “The heart of the Nissan Leaf e-powertrain underwent a transformation as well”
5:55 pm Pacific, Kyle: Regarding the first-generation LEAF: “The general public was not aware of the movement coming their way.”
5:55 pm Pacific, Kyle: “The stance is wider” “allows the driver to feel completely in control.”
5:56 pm Pacific, Kyle: The two-tone roof cuts the visual height of the vehicle. The new stance gives the new LEAF a low, sporty character.
5:57 pm Pacific, Kyle: The cockpit of the new LEAF looks very similar to the first-generation LEAF. Curious if Nissan changed anything significant inside.
5:59 pm Pacific, Kyle: Nissan now talking about sales expectations and volumes.
6:00 pm Pacific, Kyle: Nissan will make the new LEAF available in its home market in Japan first. Will be available starting October 2nd!
6:01 pm Pacific, Kyle: The average LEAF driver in Japan will only have to charge the EV once.
6:02 pm Pacific, Steve: Price comparable to current LEAF. Big news!
6:03 pm Pacific: “We are confident that we will double or triple our sales volume in Japan.”
6:03 pm Pacific, Kyle: Event coming to a close. Wrapping up with the new Nissan LEAF commercial.
6:04 pm Pacific, Steve: Larger battery and higher-power motor in 2018.
6:05 pm Pacific, Kyle: That’s a wrap! The full Nissan team is coming on stage for one last photo.
The new 2018 Nissan LEAF website is live with new graphics and vehicle specs on the Nissan USA site.
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Ethereum’s long-awaited Casper replace appears to be making strides as a more recent model of the code has been launched by the builders earlier this week. The worth appears to have reacted, marking a slight improve.
At press time, ETH was buying and selling for $761.86 which is roughly a 2% value improve over the previous 24 hours in line with CoinMarketCap. The slight value enchancment may very well be attributed to the information that the primary model of the deliberate Casper replace was launched on Tuesday, Might eightth.
Ethereum’s Scalability Points
It goes with out saying that Ethereum has managed to ascertain itself because the predominant platform for the event of Decentralized Functions (DApps). However, scalability points have pushed builders in the direction of figuring out acceptable alternate options, selecting platforms akin to Stellar or NEO.
The Ethereum blockchain is at present utilizing the Proof of Work (PoW) consensus algorithm. It requires a considerable quantity of computational energy to boast satisfying efficiency. It may well at present course of between 7 to 15 transactions per second, which is sort of low. NEO’s transaction velocity, for instance, is a a lot sooner 1,000 TPS.
To their credit score, Ethereum’s improvement crew hasn’t shied away from the issue. Addressed by means of an replace often known as Casper the Pleasant Finality Gadget (FFG) launched again in October, 2017, the crew seeks to treatment the problem.
First Launch Rolled Out
On Might eightth, Danny Ryan, the lead developer of the Casper FFG submitted the primary launch of the long-awaited replace on GitHub.
The primary proposition of Casper FFG is layering the Pleasant Finality Gadget on high of an present PoW block as a step in the direction of the transition to a fully-fledged Proof of Stake community. This specific Ethereum Enchancment Proposal (EIP) was launched again on April 20th.
A considerable specification of the EIP is that it reduces the block reward for miners. From the present three ETH, it shall drop right down to zero.6 ETH in an try and push the blockchain away from the problems that are related to mining. It’s price noting, although, that the brand new PoW block reward gained’t be immediately modified to zero.6 however it shall be decreased steadily over the course of roughly one 12 months, in line with the aforementioned EIP.


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The 17th Annual Downtown Holiday Market returns!
Operated by the DowntownDC Business Improvement District (BID) and Diverse Markets Management, the 17th Annual Downtown Holiday Market, Washington D.C.'s outdoor shopping village, kicks off the holiday season Friday, November 19.
The beloved outdoor market returns to downtown Penn Quarter, transforming two city blocks on F Street into a one-stop shop, open-air winter wonderland. Guests can make the most of their holiday shopping experience this winter supporting local businesses and finding unique, festive treasures in the heart of the District through December 23.
Following past traditions, the holiday market lineup features more than 70 exhibitors including Black-owned and minority-owned businesses such as Smell of Love Candles, Marcella Kriebel Art + Illustration, Sarah Nickel Ceramics, Kin amp; Careand Raw Blossom.
F St. between 7th & 9th St. NW
Washington, DC 20001


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Vanilla producers fight against market volatility
New Zealand vanilla producer, Heilala, has turned to selling extract mixed with flavouring as global vanilla prices continue to rise.
For the second year running, international prices for vanilla has skyrocketed as demand outstrips supply.
The African nation of Madagascar, responsible for most of the world’s vanilla supply, also experienced a damaging cyclone in April 2017, affecting global pricing further.
Spice traders predict the current market turmoil will continue into 2018.
Although Heilala gets most of its vanilla from the island of Tonga, Chief Executive Officer of Heilala, Jennifer Boggiss, said Heilala has turned now offering vanilla extract mixed with flavouring so consumers have more reasonably priced options.
“We have recognised that we will continually be faced with external forces which are out of our control,” Boggiss said.
“The Naturals range will allow customers to continue using a high-quality vanilla throughout this crisis and into the future,” she said.
Heilala’s Natural’s range is a combination of vanilla extract and natural plant-based vanilla flavour. The range is available now for food service and will hit retail shops in September 2017.
Vanilla harvesting methods “unsustainable”
Boggiss said unsustainable harvesting methods in Madagascar, and elsewhere, is decreasing vanilla bean quality and adding to supply problems.
According to Boggiss, vanilla beans are sometimes picked too early as a theft prevention method.
“We believe the quick curing of green vanilla is a practice that has contributed to the current state of the market, Boggis said.
“It has an extremely negative social impact on the vanilla trade as ethical and sustainable procurement practices have been abandoned in favour of any vanilla at any price,” she said.
Heilala is not the only company addressing skyrocketing vanilla pricing, with stevia producer, PureCircle, this week announcing a vanilla-stevia blend partially aimed at addressing the high prices.
- NZ’s Heilala Vanilla now available in Australian supermarkets
- New premium vanilla powder launched in Australia
Pepsi in the US has decided to re-introduce aspartame sweetened soft drink after axing it a year ago...
Pepsi Co’s Smith’s is brining two old chip flavours back for a limited-time only.
A United States company has launched a new sweetener made from sweet potato, pitching it as a “clean...
Unilever’s Continental is now selling three new cooking aid ranges in Australian supermarkets.
Dr Oetker is now selling a frozen chocolate dessert pizza, along with two other unique pizza varieti...
The first stage of The Glen’s $460 million redevelopment in Melbourne’s south east has opened, incor...
A body will be established by the Australian Federal Government to help cut the nation’s food waste ...
AUSTRALIAN consumers will from today have much greater certainty about the origins of the food they ...


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The quick ChatGPT update exemplifies the rapid advancement of AI and how easily new work can be left in the dust.
Travel Tech Briefing
Editor’s Note: Exclusive reporting on technology’s impact on the travel industry, delivered every Thursday. The briefing will guide executives as they decide if their companies should “build, buy, or partner” to stay ahead.
Since OpenAI released the groundbreaking ChatGPT tech late last year, travel companies have been exploring how the latest developments in generative AI could change the way they operate.
Only three and a half months later, OpenAI released an update of the technology called GPT-4. Among several notable updates, the last version of ChatGPT can accept images, not just text, and describe them in detail. It can also score in roughly the top 10 percent of students on the Uniform Bar Examination. The latest version, called ChatGPT Plus, requires a $20 monthly subscription for access.
With all the work companies have been doing with the previous version of ChatGPT, the question now is what’s next for them, especially for startups that have dedicated all their resources to creating products using that first version. And if significant updates continue at this rate, how soon before products made with old versions of the tech become obsolete and need to be totally revamped?
The application programming interface (API) for GPT-4 is not yet publicly available, but there’s a waitlist. Some companies have access to the latest version, including Microsoft, which has invested billions of dollars in the company.
OpenAI is testing the updated tech with Be My Eyes, an app that wants to increase accessibility for blind and low-vision people. With the image input capability, the updated app could “answer any question about that image and provide instantaneous visual assistance for a wide variety of tasks,” Be My Eyes said in a blog post.
Based on the implications it made about the potential of the technology, it’s easy to see how it could benefit the greater population, travelers included. Imagine being able to take a photo of a building or neighborhood, for example, and getting a detailed description about the history or events taking place there — the image input capability paves the way for that, theoretically.
“Imagine navigating a train system in an unfamiliar place, traveling in a foreign country where you don’t speak the language, browsing websites and social media platforms, online shopping, and a host of other ways we know our community will help us identify — the possibilities are limitless, and we’re just getting started,” the post stated.
With rapid advancement of the technology, maybe the slow research and development approach that large travel companies are taking will be the best method in the long run.
Glenn Fogel, the CEO of Booking Holdings, highlighted the company’s approach in a recent Linkedin post that spoke to the technology’s potential and acknowledged its shortcomings.
His comments were similar to the stance by Rob Francis, chief technology officer of Booking.com. His counterpart at Expedia Group, Rathi Murthy, made similar comments. So did an executive of Trip.com and others.
“I believe that generative AI and other technologies will play a key role in this new travel world, and many of us in the travel industry are investing right now to build the foundations,” Fogel stated. “However, there are going to be significant challenges. The problems of how to obtain real-time data from countless sources, process it all to result in optimal solutions, and then act rapidly to benefit consumers will not be solved overnight. Nevertheless, this is just one area, among many, where we are going, and travel will be better when we arrive.”
Some New Travel Tech Products
Faye, a startup platform for travel insurance, has released a portal meant to help travel advisors and agents more easily sell and track travel insurance packages.
Crewfare has publicly released a product meant to help event attendees and workers more easily book travel accommodations like hotel rooms and transportation. Crewfare has partnered with more than 3,000 hotels for more than 75 events slated to take place this year. The platform has sold more than 100,000 hotel rooms so far, the startup said.
OTA Insight, which offers hospitality business intelligence, released a platform that shows short-term rental and hotel pricing for specific markets based on demand, occupancy, and rates, meant to help hoteliers make better pricing decisions.
Tech Can’t Solve the Short-Term Rental Labor Shortage — Yet
Skift covered more about the labor shortage in short-term rentals and how technology can — and cannot — help.
“I don’t see human workers getting out of the picture for at least another ten years. Robots cannot clean and maintain apartments yet,” said Guy Westlake, founder of property management software company Lavanda.
Skift AI Travel Newsletter
AI coverage across travel sectors that’s focused on separating trendy moves from good ideas – in your inbox every Friday.
Have a confidential tip for Skift? Get in touch


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Will the plastic packaging going hard in Germany in 2019?
24/10/2018, the E.U. has voted for a complete ban on a range of single-use plastics across the union in a bid to stop pollution of the oceans. The proposal is a ban on plastic cutlery and plates, cotton buds, straws, drink-stirrers and balloon sticks, it also calls for a reduction in single-use plastic for food and drink containers like plastic cups.
It could take up to 5 years for the regulation to go into effect. But Germany government response policy rapidly.
On 1/1/2019, the new German Packaging Act (“ GPA ”) enters into force, producers and all other economic operators who market packaged products in Germany have to comply with the new law.
Without proper registration in https://lucid.verpackungsregister.org/, packaging and participate in a disposal and recycling system.producers or retailers must not offer the packaging, even if the product is imported abroad.
The recycle packaging is one of the options for the plastic packaging sellers in Germany.


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Alnoor M Peermohamed
25th Aug 2014
Indigenous manufacturers Intex and Spice had earlier this year tied up with Mozilla to bring smartphones running Firefox OS for as low as $25 (approx Rs 1,500) to India. The companies aren't targeting existing smartphone users, but instead buyers of feature phones which makes up over 70% of the Indian mobile market.
While Spice has already announced that it will launch its 'Fire One' smartphone for Rs 2,299 on August 29, rival Intex is going one step further, saying its competing device will be the cheapest smartphone in India and will be unveiled on August 25. Intex however hasn't released that all important pricing detail just yet.
Firefox's main rival at the moment is Android, which apart from being the most widely used mobile OS on the planet, is also the most popular in the entry-level segment. However, there's a dearth of great Android devices in the sub-$100 smartphone segment, which is what Intex and Spice are looking to take advantage of.
It would be wild to expect stellar performance from the two devices, but that shouldn't hinder sales as the intended users will be looking at a pretty huge upgrade when coming from feature phones. Still, Google isn't going down without a fight to retain its dominance in the ultra low-cost segment and will soon unveil Android One.
Affordability is one thing that Intex and Spice have gotten right with their Firefox phones, however, the devices must have clear cut advantages over feature phones. Moreover, other Indian manufacturers like Micromax, Karbonn and Lava already have Android-powered devices priced fairly similarly (which are terrible), so useability of Firefox OS is really key here.
It is yet to be seen if the Indian market will sway towards devices running Mozilla's software. We were somewhat disappointed to see that the Spice Fire One will not support 3G connectivity, as fast mobile data connectivity would undoubtedly be a great way to get into the pockets of Indian consumers. The perfect ultra low-cost device still eludes us, but its great to see someone trying to challenge Google nonetheless.
Intex And Spice Turn To Firefox OS To Kill The Feature Phone
With Android One just around the bend, the days of Firefox phones could be short lived
- boAt audio launches new range of earphones & speakers at the recently concluded Lakmé Fashion Week
- Sennheiser PXC 550-II Wireless, The Smarter Travel Companion, Launched in India
- Titan Company strengthens its technology and wearables play
- Xiaomi India launches Desh Ka Dumdaar Smartphone, Redmi 8A Dual
- HYPERX LAUNCHES FURY ULTRA RGB GAMING MOUSE PAD IN INDIA
- An initiative to create a Breathe Free space for the torch bearers of tomorrow
- Philips rapidly expands its smart audio product portfolio by launching Headphones with one touch Google Assistant and Active Noise Cancellation
- Goldmedal Electricals launches smart i-Sense Senso Switch
- Newly launched Vu Cinema TV sold out on Amazon within 24 hours!
- Havit launches high bass neckband with 12 hrs battery in India at 1299/-


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Remittance tax back in play as Kuwaiti MPs submit bill
Date: 18 Jan, 2021
Kuwait- January 18, 2021:
The tax on expatriates’ money remittance is back in the news as Parliamentarians Osama Al-Shaheen, Hamad Al-Matar, Abdulaziz Al-Saqaabi, Shuaib Al- Al- Muwaizri and Khalid Al-Otaibi bring a new proposal on taxing remittances.
At present, the exchange companies are collecting fees for remittances, but the State gets nothing. The State will benefit from remittances through this bill, Al-Shaheen explained.
The Kuwaiti MP stated that roughly KD 21 bn has been transferred out of Kuwait in the past five years – averaging KD 4.2 bn every year. Based on these figures, some KD 100 m can be collected every year by imposing the fee. He disclosed that the draft submitted aims to enhance the public budget, support the domestic economy, generate more opportunities and avoid capital leaving the country.
This bill amends law number 32/1968 which regulates the currency, Central Bank of Kuwait (CBK) and banking procedures. The article mandates the Central Bank of Kuwait to take the necessary steps to obligate local banks, branches of foreign banks and money exchange companies to collect tax on remittances – at a rate of 2.5 percent regardless of the currency. This tax will be added to the State treasury.
Money transfers related to agreements on investment protection and money transferred by the government are tax-exempt. The Central Bank must exempt Kuwaitis studying abroad, those undergoing treatment overseas treatment, and if the transferred amount is less than KD 10,000 per year from paying such tax.
Oman: Over 90 food items will be subjected to VAT at zero percent
Date: 13 Jan, 2021
Muscat- January 13, 2021:
The Chairman of the Tax Authority issued three executive decisions related to the implementation of the value-added tax, which will come into effect on April 16 of this year 2021.
Ministerial Decree 2/2021, dated 4 January 2021, detailed the list of around 93 food items that will be subject to VAT at the zero rate in Oman.
The list includes the following food products :
- Meat, fish and poultry
- Milk and dairy products
- Fresh eggs, vegetables and fruits
- Coffee and tea
- Cardamom creels
- Olive oil
- Bottled drinking water
- Nutritional preparations for children
Oman Tax Authority: New executive decisions on VAT implementation
Date: 13 Jan, 2021
Muscat- January 13, 2021:
In a series of executive decisions issued, the Tax Authority in Oman has announced the framework and related guidelines for registration of tax-eligible businesses and organizations in the Sultanate.
Businesses with an annual turnover of a minimum of OMR 38,500 are required to mandatorily register with the Tax Authority. However, registration is optional for businesses with a minimum turnover of OMR 19,250. These limits are in with the provisions of the GCC Unified VAT Agreement signed by the Sultanate in November 2016.
SMEs and micro-businesses have been given additional time to register their firms in order for them to equip themselves with the requisite IT systems and bookkeeping methods required to comply with the requirements of the VAT law.
First to register will be businesses with an annual turnover of over OMR 1 million. They must register between February 1 and March 15, 2021.
For businesses with a turnover of over OMR 500,000, the deadline for registration is July 1, 2021.
VAT is an indirect tax on most goods and is levied on the value-added of business operations, which is the difference between the final price of a commodity and the cost of materials and services.Confirming the implementation of VAT, the Ministry of Finance announced in the 2021 General Budget that the new level would be imposed on goods and services in Oman starting from April 2021, with exception of the education and health sectors and some basic commodities.
According to Royal Decree 121/2020, a 6-months grace period has been granted for the taxpayer to register, and prepare their internal system to implement the VAT. The value-added tax rate of 5 per cent to be applied in Oman is among the lowest rates at the international level.
“Therefore, it is expected that the impact of VAT on the cost of living in Oman will be minimal. The VAT will have a positive impact on the economic and social development and the international competitiveness of Oman. The financial resources obtained from this tax will contribute to building a sustainable economy for future generations, and it will also contribute to improving public services and continuing the development of infrastructure in future,” the ministry noted.
MoF extends deadline till January 31, 2021 for submitting ESR notifications
Date: 06 Jan, 2021
Abu Dhabi- January 6, 2020:
The Ministry of Finance (MoF) has announced the extension of the deadline for submitting Economic Substance Regulations (ESR) notifications and reports.
All companies in the UAE that engage in any of the ESR’s relevant activities must submit an annual ESR notification to its Regulatory Authority no later than January 31, 2021 in order not to be subject to administrative penalties.
All companies that fall under this decision are immediately to register an account in the ministry to access the ESR Portal to submit needed reports, notifications and supporting documents electronically before the mentioned deadline as no further extension will be granted to deviating companies.
Saudi Arabia becomes first Arab country to sign DTA agreement with Taiwan
Date: 31 Dec, 2020
External URL: https://www.arabnews.com/node/1775276/business-economy
Saudi Arabia- December 31, 2020:
Saudi Arabia has become the first Arab country to sign a double taxation avoidance agreement with Taiwan.
Joanne Ou, a spokesperson for Taiwan’s Ministry of Foreign Affairs (MOFA), said that the agreement was signed in Riyadh on December 2,2020. The new tax agreement will come into effect from January 1, 2021.
According to the CNA report, Saudi Arabia is Taiwan’s 13th largest trading partner and trade between the two countries was valued at $8.66 billion in 2019.
“As Saudi Arabia gradually shifts away from dependence on its oil exports, it is adopting a diversified economic policy that encourages foreign investment,” MOFA said in a statement. “The latest tax agreement will help facilitate bilateral investment, trade, employment opportunities, technological exchange and cooperation on taxes and tariffs,” it added.
Saudi authorities clarify which cars are exempt from VAT
Date: 30 Dec, 2020
Saudi Arabia- December 30, 2020:
While some car owners put a value-added tax of 15% on the cars they sell off outside the taxable showrooms, the Saudi Zakat and Income Authority confirmed, in response to an inquiry, that selling a used car from an unregistered individual, who does not run a business to another individual is not subject to VAT, local media reported.
According to the Zakat and Income Authority, taxable cars include vehicles sold off in auctions if the seller is carrying out an economic activity and cars sold off by showrooms or VAT registered businesses.
UAE makes DTS mandatory for waterpipe, e-cigarette products from 2021
Date: 23 Dec, 2020
Abu Dhabi- December 23, 2020:
The Federal Tax Authority has announced that as of 1st January 2021, it will not be permitted to sell, supply, transport, store or possess any type of water pipe tobacco or electrically heated cigarettes in the UAE unless they bear the Digital Tax Stamp (DTS). All those concerned must strictly comply.
This distinctive mark system for tobacco products is a regulatory program which supports the state’s efforts to combat the illicit trade in tobacco products across the country. The program requires tobacco manufacturers, suppliers and concerned parties to comply with procedures for placing custom digital tax stamps on tobacco products, including water pipe tobacco and electrically heated cigarettes rolls. This is done to monitor and track their movement from manufacturer to the point of consumption.
The DTS system helps the FTA “improve its ability to collect excise tax charged” on such products on being imported or manufactured locally. It also enables “stakeholders to analyze the supply chain to better control illicit tobacco products”.
In addition, the DTS system allows for the implementation of compliance standards. Visit tax.gov.ae/dts
Read More about the Digital Tax Stamp Scheme.
Zoho launches VAT-compliant software in Oman
Date: 17 Dec, 2020
Muscat- December 17, 2020:
Zoho, a global information technology company that offers over 45 business applications including CRM, business email and help desk, has launched its VAT-compliant accounting software, Zoho Books in the region.
As businesses in the sultanate prepare for the implementation of VAT, Zoho Books helps their seamless transition to the new tax law and ensure VAT compliance.
Having helped tens of thousands of businesses in the United Arab Emirates, Saudi Arabia and Bahrain easily transition to VAT with country-specific editions, Zoho Books is now offering its expertise to businesses in Oman to help with their accounting and VAT filing needs. The software has also been accredited by the Federal Tax Authority in the UAE and General Authority of Zakat and Tax in Saudi Arabia.
Hyther Nizam, president – MEA, Zoho Corp, said, “With the experience that we gained from bringing out tax-specific editions in the UAE, Saudi Arabia and Bahrain, we’ve built Zoho Books to provide a complete accounting solution for Omani business owners. Zoho Books, with its in-built features can help businesses create VAT-compliant transactions, record and file VAT returns with ease. It is also a great opportunity for businesses to transform their current business processes and adopt digitalization and automation of business finances.”
Click here to read more.
“Zakat and Income” announces the entry into force of the electronic billing regulation
Date: 04 Dec, 2020
Riyadh- December 4, 2020:
The General Authority for Zakat and Income announced the approval of its Board of Directors on the electronic billing regulation, which was published on December 4, 2020. An electronic invoice is a tax invoice that is issued electronically through an electronic means, and is issued by every taxpayer subject to value added tax in the Kingdom.
The electronic billing regulation contains seven articles that regulate the mechanism for issuing and keeping electronic invoices for the taxpayers and clarifies the provisions, procedures and persons subject to them, in addition to the procedural rules and time limits. Whereas, the Authority confirmed that the regulation has entered into force from the date of publication. Note that the mandatory application will take place on the taxpayers subject to it to issue and keep invoices on the fourth of December 2021.
The General Authority for Zakat and Income invites all taxpayers to view the electronic billing list through its website and to contact it via the unified number (19993), which works 24 hours a day, seven days a week, for any inquiries related to electronic billing .
It is worth noting that the electronic invoicing system aims to limit the volume of shadow economy transactions, in addition to combating commercial concealment.
Click here to read more.
Saudi Arabia to review VAT increase after the pandemic ends
Date: 22 Nov, 2020
Riyadh- November 22, 2020:
Saudi Arabia will review its VAT increase after the coronavirus pandemic ends, the Kingdom’s acting media minister said.
Saudi Arabia tripled value-added tax to 15% in July to offset the impact of lower oil revenue on state finances.The decision was a painful one and has undoubtedly caused concern for every individual and family.
“This decision is like any other decision, it can be revised God willing when this crisis is over,” Majid bin Abdullah al-Qasabi told reporters at a news conference, referring to the global pandemic.
Click here to read more.
FTA conducts a second virtual workshop for tax agents on tax treatment of e-commerce
Date: 15 Nov, 2020
Abu Dhabi- November 11, 2020:
The Federal Tax Authority (FTA) confirmed that several general Value Added Tax (VAT) rules apply to e-commerce transactions, in addition to a number of special VAT rules specifically applied to e-commerce transactions. E-commerce refers to the supplies of goods and services on digital platforms, via computers or mobile phones purchased from websites or electronic applications.
The workshop saw the participation of 225 accredited tax agents and a number of FTA officials. The FTA gave a presentation on how to apply VAT on the supplies of goods and services made within the e-commerce framework and how to calculate VAT on these supplies. The FTA also presented an overview of e-commerce, the principles of VAT on the supply of goods via e-commerce and the supply of electronic services, and the effects of VAT on electronic markets using practical examples. The presentation indicated that all goods and services purchased through online shopping sites are generally subject to 5% VAT if the place of supply is in the UAE. The tax is also applied to most of the goods that are sold inside the UAE; subject to some exceptions per the VAT legislation (such as medicines sold on websites). Additionally, the import of goods is subject to VAT.
His Excellency Khaled Ali Al Bustani, Director General of the FTA, stressed that the number of FTA accredited tax agents is increasing steadily, in line with the continuous growth of taxable persons within the tax system. H.E. Al Bustani said: “The number of accredited tax agents increased in the first 10 months of 2020 by more than 10% to 515, compared to 468 in the same period last year. This increase provides more opportunities for taxpayers wishing to deal with the FTA through tax agents by offering them an extensive, constantly-updated list of approved agents on the FTA’s website.”
Click here to read more.
UAE has no plan to hike VAT
Date: 12 Nov, 2020
Dubai- November 12, 2020:
The UAE’s Ministry of Finance said it raised Dh11.6 billion in value-added tax (VAT) revenues in the first eight months of 2020 and the government has no plans to raise VAT to more than five per cent.
The UAE and Saudi Arabia levied five per cent VAT from January 1, 2018 and later Bahrain also introduced it. Saudi Arabia, the region’s largest economy, hiked the VAT to 15 per cent from July 1, 2020. Oman is set to become fourth country in the GCC to impose VAT from April next year.
Saeed Rashid Al Yateem, assistant under-secretary of resource and budget at Ministry of Finiance, affirmed that there are no plans or decisions at the moment to raise VAT to more than five per cent in the UAE.
Click here to read more.
FTA to issue tax residency certificates
Date: 08 Nov, 2020
Dubai- November 8, 2020:
Tax residency and commercial activities certificates will now be issued through the Federal Tax Authority of the UAE, the FTA said.
Applications for the certificates can be made through the FTA’s e-services portal from November 14, the authority added.
Tax residency certificates are issued to eligible government entities, companies and individuals looking to benefit from double taxation avoidance agreements signed between the UAE and other countries, while the commercial activities certificate enables applicants to refund VAT paid in advance outside of the UAE.
Click here to read more
Income tax to be introduced in Oman: Ministry
Date: 04 Nov, 2020
Dubai- November 4, 2020:
Oman is said to be weighing up plans to introduce income tax on high earners in 2022 as part of the finance ministry’s 2020-2024 economic scheme, as the Gulf state seeks to restore finances battered by low oil prices.
The plan aims to bring Oman’s fiscal deficit down to 1.7 per cent of gross domestic product by 2024, from a preliminary deficit of 15.8 per cent this year.It also has a target of increasing non-oil revenues to 35 per cent of total government revenue by 2024, from 28 per cent this year.
“The government recognizes the need to strengthen the Sultanate’s revenue-raising framework by decreasing its reliance on hydrocarbon revenues,” it said in its bond prospectus.
“The initiative is under study and all aspects of its application are being considered. It is expected to apply the tax in 2022,” the 2020-2024 medium term economic balance document said.
Click here to read more.
FTA Board of Directors review Authority’s performance indicators in the meeting
Date: 31 Oct, 2020
Dubai- October 31, 2020:
The FTA Board of Directors, chaired by H.H. Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance, and Chairman of the Authority’s Board of Directors, approved a number of executive decisions related to the Authority’s operational activities and organisational and administrative policies during its 13th meeting.
The Authority’s financial statements for the period covering the first quarter ending on 31st March, and the period ending on June 30th, 2020, were approved. This was in accordance with the international accounting standards related to reviewing the quarterly financial statements.
During the virtual meeting, the Board reviewed indicators of FTA’s performance adopted by the Authority in all areas relevant to its activities during the first nine months of 2020, including registration systems, filing returns, tax refunds for groups legally qualified to recover, such as UAE nationals’ homebuilders refund, tax refunds for tourists and for foreign business visitors.
H.H. Sheikh Hamdan bin Rashid confirmed that the reports reviewed during the meeting showed that the Authority continues to maintain its distinguished performance across all activities, while continuing its development plans to upgrade its services in accordance with the best standards to achieve customer happiness.
The is also a 210% growth in tax amounts refunded to UAE Nationals during 2020 for the construction of their new homes to a value of 270 million AED.
Click here to read more.
Voluntary disclosures by UAE businesses on VAT or excise tax will face heavy penalties
Date: 20 Oct, 2020
Dubai- October 20, 2020:
There is a major development in the UAE tax litigation landscape.
In a very significant twist, the voluntary disclosures made by UAE based businesses on their actual VAT obligations will now be charged with late payment penalties (up to 300% of the tax due). Late payment penalties would apply from the due date of the tax return and not from the date of the voluntary disclosure.
This is according to a ruling by the UAE Federal Supreme Court judgment on an appeal filed by the UAE Federal Tax Authority.
Click here to read more.
Tax payment through the new version of the eDirham card
Date: 19 Oct, 2020
Abu Dhabi- October 19, 2020:
The new generation of the eDirham cards have been included as one of the official payment channels provided by the authority. Tax payments can be processed via the new eDirham cards as of Sunday 1st November, 2020, as payments will not be accepted through the existing eDirham cards with effect from the same date.
In order to ensure a smooth transition to the new generation of the eDirham, the authority calls on VAT registrants to prepare to make the switch to the new version. This comes to replace the old version of the eDirham, which will be suspended and will not be available to use for the Authority’s transactions as from the beginning of November 2020.
The FTA stresses that the new version of the eDirham will provide users with a more diverse set of options that are both easier to use and adhere to the highest standards of safety and excellence.
Click here to read more.
Oman to implement 5% VAT in six months
Date: 13 Oct, 2020
Oman- October 13, 2020: Oman has issued a decree to start levying a 5 per cent value-added tax (VAT) in six months’ time to offset a slump in oil prices and an economic downturn exacerbated by coronavirus.
The tax will be on most goods and services, though with some exceptions. Essential food items, medical care, education and financial services will be exempt from the planned levy, according to a royal decree detailing the tax.
Saudi Arabia, the UAE and Bahrain have already introduced the tax, with Riyadh tripling it this year. Oman, Kuwait and Qatar have not yet introduced the tax.
Click here to read more.
Oman removed from the EU Blacklist
Date: 06 Oct, 2020
Oman- October 6, 2020: Oman was eliminated from the EU list of non-cooperative jurisdictions for tax purposes (the “EU Blacklist”). Oman was previously included on the EU Blacklist on 12 March 2019 for not making sufficient progress in implementing information exchange protocols.
Oman has been removed from the EU blacklist as per the Council of the EU press release dated 6th October 2020. Oman is, therefore, no longer regarded as a non-cooperative tax jurisdiction by the EU Council.
This development comes after recent steps taken by Oman to improve its tax framework and implement exchange of information protocols.
Click here to read more.
Saudi Arabia: Real Estate Transaction Tax - A new tax introduced
Date: 02 Oct, 2020
Riyadh- October 2, 2020: Saudi Arabia will exempt real estate transactions from a 15 per cent VAT (value-added tax) and instead impose a new 5 per cent tax on property deals. The Saudi finance minister affirmed that the order aimed to support Saudi citizens who want to buy homes.
The country is facing a deep recession, with the economy shrinking by 7 per cent in the second quarter and unemployment hitting a record high of 15.4 per cent. The government had in July tripled VAT to 15 per cent to boost non-oil revenues, but the move set off limited domestic demand.
The official announcement can be accessed through the following link:
Higher educational institutions can claim VAT refund
Date: 14 Sep, 2020
Abu Dhabi- September 13, 2020: The Federal Tax Authority (FTA), has confirmed that higher educational institutions making only zero-rated and/or standard-rated supplies may recover input tax in full, except where recovery is specifically blocked.
Blocked input tax includes value-added tax (VAT) incurred on certain entertainment services, and motor vehicles that have been purchased, leased, or rented and made available for personal use, the FTA said on Sunday.
The Authority noted that higher education institutions providing exempt supplies are eligible to recover only a portion of the input tax incurred.
The FTA’s Basic Tax Information Bulletin focuses on the tax treatment for the higher education sector in respect of universities and higher education institutions recognised by the competent federal or local government entity regulating the higher education sector where the course is delivered.
Oman’s ruler expected to approve VAT to boost economy
Date: 03 Sep, 2020
03 Sept, 2020– Oman’s legislature is proposing to implement a value-added tax after January 2022 as falling oil revenue pressures its finances, following similar moves by Gulf Arab neighbours.
A joint committee of the State Council and Shura Council suggested the time frame and sent a draft law for approval to Sultan Haitham Bin Tariq Al Said. He took power in January vowing to take steps to bolster the near $80 billion economy that his predecessor had sidestepped.
Oman would become the fourth of the Gulf Cooperation Council’s six states to collect VAT, a move agreed by the bloc years ago. The UAE imposed a 5 per cent VAT in 2018 on most goods and services.
Zero VAT for face masks and sanitisers
Date: 02 Sep, 2020
Dubai- September 2, 2020: Medical equipment like disposable suits, hand sanitisers, face masks, respirators for air purification and gloves will be subject to zero-rated value-added tax (VAT) in the UAE. A resolution stipulating this was adopted by the UAE Cabinet to mitigate the repercussions of Covid-19 and support the healthcare sector in the country.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, chaired the meeting at Qasr Al Watan in Abu Dhabi. He hosted virtually a number of teaching staff and students from different schools in the UAE.
He stressed that education has always been a top priority. “The country exerts unwavering efforts to develop the educational system despite all circumstances,” he said.
UAE Federal Tax Authority launches smart app to detect uncertified tobacco products
Date: 25 Aug, 2020
Abu Dhabi-August 25, 2020: Tax evasion and trade in inferior products and counterfeit goods are among the main challenges facing tax authorities around the world. As part of its on-going efforts to protect consumers from commercial fraud and combat tax evasion with various mechanisms and utilizing the latest technologies, the Federal Tax Authority (FTA) has launched a smart application that can be applied to check on the legality of trademarked tobacco products.
The app enables consumers to scan the stamps placed on the tobacco packages to verify that it is an Authority accredited digital tax stamp, ensure that these products meet the standard specifications, are not smuggled, and have been subjected to tax. Should the consumer discover that the stamps are not accredited, they can file a report to the FTA directly from the smart application. The Authority will then cooperate with the relevant authorities to take legal actions against violators.
The Authority said in a press release issued today that the application has been instigated under the banner, “Monitor yourself, fight fraud”, adding that users can install the app, known as ‘FTA DTS’, on their smart phones via the Apple Store and Google Play.
Commenting on the initiative, His Excellency Khalid Ali Al Bustani, Director-General of the Federal Tax Authority, said: “The ‘FTA DTS’ smart application is one of the effective tools that support the ‘Marking Tobacco and Tobacco Products Scheme’, which came into effect at the beginning of 2019 to combat tax evasion, protect public health and reduce the risks to consumers from the inferior products entering local markets.”
Dubai Refreshment wins court case over tax issue
Date: 18 Aug, 2020
DUBAI- August 18, 2020: Dubai Refreshment Co (DRC)., the distributor of PepsiCo products, has said the First Instance Federal Court of Abu Dhabi has ruled in its favor related to the tax assessment and penalties case applied by the Federal Tax Authority. In a statement on Monday, it said the court rejected the case and obliged the plaintiff to pay the expenses and waive the fees.
It said the court canceled the objected decision and ruled again to cancel all administrative penalties. All other requests were rejected by the court who obliged the authority to pay the fees and expenses, DRC said in a statement posted on Dubai Financial Market, where it is listed.
Earlier, the Tax Dispute Settlement Committee in Dubai had also ruled in favor of the company.
Earlier, the FTA had contended the DRC owed it Dh20.8 million on the stock of drinks held by the company in 2017, prior to the introduction of VAT, which came into effect from January 1, 2018. The Committee had ruled that the company owed only Dh8.8 million in taxes to the Authority.
Dubai Refreshment posted Dh18.65 million net profit for the first half of 2020 as compared to Dh30.88 million for the same period last year, a loss of 39.6 percent. While the second-quarter profit shrank 83 percent from Dh18.68 million to Dh3.13 million due to the impact of coronavirus.
During the annual general meeting held on March 23, 2020, DRC shareholders approved and paid a cash dividend of Dh0.70 per share, totaling Dh63 million.
VAT applicable for e-commerce sales, says FTA.
Date: 12 Aug, 2020
Abu Dhabi, UAE, 12 Aug, 2020: The Federal Tax Authority (FTA) has clarified that Value Added Tax (VAT) is applied on e-commerce services (also known as “electronic commerce”, sometimes referred to as the “digital economy”) upon their actual use or enjoyment in the UAE. Note that although many of the general rules of VAT apply to e-commerce, there are a number of special rules that apply specifically to e-commerce transactions.
This guide issued by the FTA clarifies how the VAT Law applies to the supply of goods and services provided through electronic means, such as the internet or similar electronic networks. The guide incudes guidance on the application of VAT on goods and services supplied within the scope of e-commerce, and the imposition and accounting for VAT on those supplies.
The guide outlines the tax treatment of the supply of electronic services, such as services that are provided directly over the internet, an electronic network, or an electronic market, including the supply of domain names, web-hosting and remote maintenance of programs and equipment, software (including the updating thereof), images, text and information provided electronically such as pictures, screen savers, electronic books, documents and other digitized files, music, movies and games on demand, and online magazines.
Other services identified under the banner of ‘electronic services supplies’ include the supply of advertising space on a website and the rights associated with that advertisement, and Political, cultural, artistic, sports, scientific, educational or entertainment broadcasts, including broadcasts of events, live streaming via the internet, the supply of distance learning services, and services of any equivalent type that have a similar purpose and mission.
The FTA Director-General, His Excellency Khalid Ali Al Bustani, noted: “Tax legislation in the UAE is characterized by transparency and accuracy, and takes into account the strengthening of the nation’s leadership position as a central economic and commercial center, not only regionally but also at a global level. In light of the increasing importance of the e-commerce sector, clear mechanisms for procedures have been identified. Value Added Tax, as it relates to the supply of goods and services through electronic means, contributes to supporting the activities of this vital sector, which depends on a locally developed digital and technological infrastructure.”
His Excellency added: “The Federal Tax Authority is keen to apply the best international standards in all its activities and the services it provides to its customers, and to contribute to preserving the advanced competitive position of the country across all sectors, with the means to encourage creativity and innovation.”
His Excellency Khalid Al-Bustani asserted that the FTA is making continuous efforts to contribute to supporting the national economy in general, and the digital economy. His Excellency mentioned, in particular, that the e-commerce sector is witnessing rapid growth, as the UAE is one of the fastest growing e-commerce markets in the region, enhanced by the availability of an advanced digital infrastructure, and a growth-friendly legislative environment.
The FTA indicated that all goods and services purchased through online shopping sites are subject to 5% VAT if the place of supply is in the UAE, like any other purchases made by traditional means, as per the special provisions governing the tax treatment of supplies.
The guide, which has been published on the FTA’s website, www.tax.gov.ae, makes the point that in traditional trade transactions, goods and services are usually supplied from a physical location such as a store or representative office, with the supplier or recipient present at the same site. For e-commerce, however, it generally refers to the supply of goods and services that take place on the internet or similar electronic networks, where goods and services are obtained or supplied through electronic means such as computers or mobile phones via websites or electronic applications (apps).
The guide also provides guidance on the VAT treatment of goods purchased through electronic platforms and services supplied through electronic means, indicating that taxable persons should charge VAT to customers when supplying taxable goods or services (generally, at the standards rate of 5%, or where the VAT Law permits, at a rate of 0%). If the supplies are exempt from tax, these supplies are not treated as a taxable supplies and therefore no VAT needs to be charged on these supplies.
The FTA clarifies in its guide that different conditions and requirements may apply to mandatory or voluntary registration, depending on whether a person has a place of residence in the UAE. A person has a place of residence within in the UAE for the purposes of VAT registration if he has a place of establishment in the UAE.
The guide also deals with the legal requirements for compulsory and voluntary registration, noting that a non-resident may not register voluntarily for VAT on the basis of his ‘taxable expenses. Furthermore, the guide sets out the criteria for determining the place of supply (whether it is inside or outside the UAE), the VAT treatment for supplies of goods through online platforms where the suppliers are UAE residents who are subject to tax, and for suppliers who are not resident in the UAE.
The guide also provides more information on the procedures for recovering input tax on e-commerce transactions and the application of the ‘reverse-charge mechanism’ which could apply on e-commerce transactions. The revers-charge mechanism aims to reduce the burden of compliance and the administrative burden related to collecting VAT from non-resident suppliers. It levels the playing field between the supply of services or goods from a supplier outside the UAE and by a local supplier. This ensures that local UAE suppliers in the country are not prejudices as a result of consumers purchasing online from foreign suppliers.
All other aspects related to the tax treatment of supplies made through agents and the requirements for tax invoices in e-commerce transactions are detailed in the guide, which is available on the FTA’s website, www.tax.gov.ae.
FTA continues to accomplish achievements, says Hamdan bin Rashid
Date: 21 Jul, 2020
Abu Dhabi – July 2, 2020:
H.H. Sheikh Hamdan bin Rashid Al Maktoum chairs first FTA Board of Directors meeting since Cabinet reconstitution
The FTA Board of Directors, chaired by His Highness Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, UAE Minister of Finance and Chairman of the FTA Board of Directors, has held its first meeting since the UAE Cabinet of Ministers approved the decision to reconstitute the FTA’s Board of Directors.
During the virtual meeting held on Monday morning, His Excellency Obaid Humaid Al Tayer, Minister of State for Financial Affairs, was elected as Vice Chairman of the FTA’s Board of Directors.
- The FTA continues to accomplish positive results and achievements, reflecting the strength of the national economy despite challenges faced by the global economy due to the effects of combating the spread of COVID-19.
- The FTA supports taxpayers in fulfilling their obligations by efficiently providing services remotely.
- AED 206 million in tax refunds for 3,124 for UAE Citizens building new residences -a growth of 136.7% over a period of 6 months.
- An increase of VAT registrants to 335,530 and Excise Tax registrations to 1,159.


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The Denton Record-Chronicle notes that the first residents (students, mostly) are moving into the brand spanking new Sterling Fry Street mixed-used development at the corner of Fry and Hickory streets in Denton, right across from the University of North Texas campus.
Early last year, I waxed nostalgic in the pages of D Magazine, about my many hours of youth misspent on that block. At the time the parcel of land had been sitting empty, in limbo, for three and a half years. I talked to the longtime owners of the much-beloved Tomato pizza joint, who had been forced from their building when developers swooped in and decided to create something new. There were hopes that the Tomato could return to Fry Street, though I doubted whether it could ever again be what it once had been without a space anywhere near as expansive or distinctive as the original restaurant’s.
Since then, some former employees of the Tomato have reopened under the old name, using the old recipes, in the nearby town of Sanger instead. And the Sterling project – with 194 apartments, a six-story parking garage, and 10,500 feet of retail space – finally got built. It’s surely a nightmare come true for people like cantankerous 70-something Bob Clifton, who told me for my story:
“The thing about Denton, the thing that attracts people to Denton, is Denton was a funky town. Musicians could come up here, 10 of them live in a f—ing house, dope flows like it’s going out style, everybody’s laid-back, not giving a s— about nothing, and it’s just funky,” he says. “They’re turning it into Plano.”
My guess was that the new development was much more likely to become home to a Starbucks, a Chipotle, and a Quizno’s than a mom-and-pop operation like the Tomato. Â And what, according to the DR-C, will open there?
Retail space will be filled by Potbelly Sandwich Shop, Chipotle Mexican Grill, MacDaddy’s Macaroni and Cheese Bar and the recently announced GRIP Mediterranean Grill.
Potbelly Sandwich Shop will be the first restaurant to open, on Tuesday, and Chipotle will open Aug. 28.
MacDaddy’s will open in about a month, Dinerstein said, and GRIP will open in early October.
I stand by my claim “it’s a scientifically proven fact that it’s impossible for a person to create fond memories of a place as fungible as a Chipotle.”
But, regardless, I’ve already banked my fun times on Fry Street. I may have to give this MacDaddy place a try.


text: An anonymous reader writes "A senior Google exec has been talking up the prospect of iPods that can hold all the world's media due to the plummeting price of storage and its increasing volume-to-size ratio. Google's VP of European operations, Nikesh Arora, predicts that in as little as just over a decade's time, iPods will be capable of storing 'any video ever produced.'" From the article: "Arora believes, mobile is likely to follow the same path. 'Mobile is not going to be a different thing,' he added — and if the mobile industry is to capitalize on the growth of content, it would be wise to ape the development of the internet. He said: 'The mobile industry has to go through the same phases the internet has gone through... Mobile will have the same learning curve. It would be somewhat foolish to leapfrog the stages the internet went through.'"


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The U.S. House of Representatives passed the Reversing the Youth Tobacco Epidemic Act, a bill that aims to tackle the youth vaping epidemic by putting new limits on the sale and marketing of a variety of tobacco products, including a ban on flavored e-cigarettes favored by teens.
The bill, which passed 213-195 Friday, is favored by organizations that represent teachers, principals, school boards, and school nurses. Those groups argue that dramatic federal action is necessary to halt the health concern that has created challenges for their schools. Their advocacy follows a pledge by President Donald Trump to remove flavored vaping products from the market, but they have complained his subsequent actions weren’t aggressive enough to stem the problem.
But the measure also faced some pushback from members of the Congressional Black Caucus, who argued that it unfairly singles out black smokers by prohibiting the sale of menthol products. And some Republican representatives argued it would overly restrict products that can help adult users of traditional cigarettes kick the habit.
The bill faces an uncertain future in the Senate. Here’s what you need to know.
What’s the Reversing the Youth Tobacco Epidemic Act?
The Reversing the Youth Tobacco Epidemic Act, sponsored by Rep. Frank Pallone, D-N.J., would impose a variety of new restrictions on tobacco products. Among its provisions:
- A prohibition on online sales of tobacco and vaping products;
- A ban on most flavored vaping products, menthol cigarettes, and flavored cigars;
- A requirement that the U.S. Food and Drug Administration extend regulations that apply to the sale and marketing traditional tobacco products to e-cigarettes;
- A new federal tax on nicotine used in vaping products;
- Creation of a grant to develop strategies for smoking cessation;
- A requirement for the Government Accountability Office to study e-cigarettes; and
- A requirement for graphics on cigarette packages that the negative health consequences of smoking.
Why Do Education Groups Support the Anti-Vaping Bill?
Teachers and educational administrators say student vaping has grown rapidly in recent years, creating concerns for student health and school environments.
As Education Week’s Stephen Sawchuk and Denisa Superville reported recently, nearly 100 school districts around the country have even sued companies like JUUL and other e-cigarette manufacturers, citing expenses related to cessation programs, prevention efforts, increased work monitoring common areas and hallways, and equipment like special detectors meant to detect vaping in school restrooms.
Organizations that support the bill say the marketing and use of vaping products grew faster than the political will to regulate them, creating a crisis. They favor efforts to ban flavors, like mango and mint, that are appealing to young people, and they say the Trump administration left too many exemptions in its rule.
“The teen vaping epidemic is one of the largest public health crises facing schools,” National Association of Secondary School Principals Executive Director JoAnn Bartoletti said in a statement after the House vote. “School leaders fight a daily uphill battle to prevent and intervene on student nicotine addiction. They are often forced to divert time and school funds from learning in order to preserve students’ health from a crisis that lines the pockets of a pernicious and politically active vaping industry. NASSP was proud to lead principals’ advocacy efforts to ban online sales of tobacco, restrict e-cigarette advertising, and address the inappropriate marketing of tobacco products to our nation’s youth. We commit to maintaining those efforts through the enactment of this bill and beyond.”
When Congress voted in Decemberto raise the smoking and vaping age to 21, children’s health organizations called it a good first step but warned it wasn’t a replacement for more stringent sales and marketing regulations.
“Youth use of e-cigarettes and other tobacco products is a problem that will not resolve itself,” a coalition of health and education organizations wrote in a February letter to House members. “It will require action by Congress.”
Pushback to Anti-Vaping Bill
Among the concerns of those who voted against the bill: It bans menthol cigarettes, popular with black smokers, and imposes restrictions on hookah, popular with some Middle Eastern populations. At the same time, it leaves a loophole in the online sales ban, exempting unflavored cigars that are popular with more affluent white smokers, some members of the Congressional Black Caucus noted. Some said they feared the ban would create a black market for menthol products that might contribute to concerns about overly punitive policing of black Americans.
“A ban that targets menthol products but ignores other premium tobacco products unduly burdens the black community,” Rep. Yvette Clarke, D-N.Y., wrote in an opinion piece for The Hill. “This asymmetrical ban feels more like a targeted attack than a value-neutral health care policy decision. In effect, white adult smokers would see little difference in their lives after this ban while black smokers could face even more sweeping harassment from law enforcement if the hint of menthol smoke can justify a stop.”
Others, like Congressional Black Caucus Chair Rep. Karen Bass, D-Calif., voted in favor of the bill, citing the detrimental effects of smoking in black communities.
The marketing of flavored cigarettes is the 2020 version of Joe Camel and candy cigarettes.
Today, Congress takes action. pic.twitter.com/y2zJJOi93T
— Congressmember Bass (@RepKarenBass) February 28, 2020


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Buy a Necklace, Support an Earthquake-Ravaged Orphanage in Nepal
All proceeds from the sale of Jessica Ricci Jewelry’s rudraksh seed necklaces will help rebuild a Nepalese orphanage.
Six years ago, on her way to Tibet, Providence-based jeweler Jessica Ricci stopped in Nepal and volunteered at an impoverished orphanage for two weeks.
“I got really close to these kids and kept in touch over the years and helped out financially, when I could,” says Ricci, who creates jewelry out of talismans from her worldwide travels.
Now, she’s using her stock of Nepalese rudraksh seeds to help rebuild that orphanage in Nepal, which was brought to rubble in the April 25 earthquake that killed an estimated 7,000 people and injured thousands more. When Ricci learned of the widespread devastation, she recalled a collection of rudraksh seeds she bought at a Nepalese market during her stay at the orphanage.
The seeds, from Rudraksha trees, are used as prayer beads in Nepal and shield the wearer against negative energy — an all-natural evil eye. Ricci strung her ninety-six seeds onto silver and gold-plated chains and she’s selling them for $55 each, with 100 percent of the proceeds benefiting the orphanage.
After Ricci wired the first batch of money to her contact via Western Union — about $1,000 so far — she received an email update about the condition of the kids, who are currently in a camp in Kathmandu.
“They’re alive, but some are very sick,” Ricci says. “Their entire orphanage was demolished. They’re homeless right now.”
Fortunately, the orphanage owns its own plot of land. When the dust settles, they can get some builders on the ground to construct a new home, thanks to funds raised a world away.
“I’m excited because it takes such little money to build there; Nepal is one of the poorest countries in the world,” she says. “It’s a doable project, if I can continue this fundraiser. And it’s only a small group of people, just twenty-four kids.”
Ricci says she’s sold about thirty of the ninety-six rudraksh seed necklaces so far. She hopes the remaining necklaces will sell, too, then she’ll make seeds casted in metal and continue fundraising.
The rudraksh seed necklaces are available for purchase at online at jessicariccijewelry.com, at Ricci’s new showroom, 76 Weybosset St., Suite 200, Providence (Mon.–Fri., noon–5 p.m.) or at Shoppe Pioneer, 253 South Main St., Providence.


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Pippa Middleton's party-planning book Celebrate is said to be flying off the bookshelves of upmarket book shops, including Foyles, Hatchards and Daunt stores in exclusive areas of London.
Shops in Reading, close to her family home in Bucklebury, Berks, have recorded particularly good sales as friends and neighbours flock to show their support.
The book, which appears to appeal to a very particular set of hosts, has been the number one bestseller in Foyles and Hatchards bookshops in London, where hundreds of signed copies have already been snapped up.
The well-heeled residents of West London have rushed to buy copies, with Waterstones shops in Kings Road, Chelsea, and South Kensington reporting it as a top seller following the high-profile launch.
The financiers and executives of Canary Wharf also appear to yearn after hosting tips from Miss Middleton, with publishers Penguin claiming it has sold well in the Jubilee Place branch of Waterstones.
The book, while has received publicity all around the world due to its famous author, is also popular with tourists, reflected in sales at the Trafalgar Square store and Selfridges.
The relative success of Celebrate at the select group of book stores contrasts with less impressive sales in the rest of the country, with the book languishing at just 273 on the bestseller chart on Amazon.
Customers have criticised it for its simple approach, with Christmas tips including words of wisdom such as: "Turkeys are perfect for feeding larger gathering".
A chapter on entertaining children advises: "For parties, wrap a small gift. Sit everyone in a circle and ask them to pass the parcel." Other tips include: "Store cupboards, drawers or boxes should be packed full of useful odds and ends."
The marked difference in book sales has been explained both by the willingness of Miss Middleton to sign copies in select stores, and the diligent support of her friends and family.
Karin Scherer, from Hatchards, said: "It's been our bestseller for the last three weeks running.
"The reports are that it's not selling so well in other shops, but we've been very fortunate.
"She [Pippa] has been in twice now to sign books and it appeals very well to our customers. They have flown off the shelves.
"I think a lot of our customers know her personally and of course want to support her. We're delighted that it's doing so well."
A spokeswoman for Foyles bookstore, where Celebrate became a bestseller within four days of hitting the shelves, said online sales had also been particularly strong, with customers from America and Europe placing orders.
The book, which has been condemned by British readers as "uninspiring", "rubbish" and "insulting", has received a warmer welcome overseas, where customers seem to appreciate the insight into quintessential upper-class traditions.
One reviewer, writing on the US Amazon website, said: "This exceptionally beautiful book is absolutely charming and delightful. Thank you Pippa for this elegant and casual guide."
Another, writing in lavish praise of the Middleton family, said: "I'm always amazed how those who could have anything still chose to get up every morning and work just like the rest of us. It speaks to a real humility of their character."
A third tongue in cheek reader, more in line with British reviewers, said the books was "basically advice for people who are at that stage after a serious brain injury where they know how to walk and talk again but can't remember how to do normal, everyday things."
A spokeswoman from Penguin books said: "The book is performing as expected after just two weeks of sales, with great support from the book trade and international sales throughout Europe and the USA.
"With one or two notable exceptions which are often tied to a TV series, these books sell steadily and over a long period of time. We are proud to be Pippa’s publishers."
She added Hatchards book store are selling around 40 copies of the book per day, an "enormous number" for one shop, while Daunt in Chelsea "can't get the book in quickly enough".
This week, the book was reported to be the third best-selling non-fiction book in London.


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House-Hasson tackles tariffs
International trade was among the topics at the distributor’s recent market.
Higher tariffs were on the mind of House-Hasson Hardware executives, and their customers, during the latest dealer market.
“Maintaining dealer profitability in the face of the potential tariff increases was a factor in our October dealer market buying programs,” said Don Hasson, House-Hasson Hardware president. “Dealers took advantage of the market to buy items at lower cost that they can sell at competitive prices even if the tariffs go into effect.
The Knoxville, Tenn.-based hardware distributor’s Fall Dealer Market took place in Sevierville, Tenn.
“If the tariff increase doesn’t occur, or if the tariffs overall are reduced or eliminated, our dealers will be in an even better profitability position because of the savings they achieved at the market. Either way, it puts a premium on thoughtful and information-driven decision making,” Hasson added.
On Jan. 1, 2019, tariffs will increase to 25% on $200 billion in Chinese goods imported into the U.S.
“We’re advising and consulting individually with dealers both at our markets and in our regular contacts with them to help them prepare,” said Pat McCutcheon, House-Hasson’s vice president of sales.
“At the same time, the economy is remaining strong, which is a positive. The better the deals give dealers, the better they can serve their customers,” he said.
Hasson said that compared to 2017, October market vendor participation was up 10%, with sales up 14%. The company says it sells to 2,500 dealers in 21 states.
“In January dealers want to start showcasing their spring goods, and what makes our markets so attractive is that dealers can buy for the future at lower costs through our bonus buys, drop-ship specials, pallet buys, and other programs.” McCutcheon added. “In our planning for the Jan. 2019 market in Nashville, Tenn., we can see that dealers are thinking ahead about the tariffs.”
McCutcheon said that industry analysts have differing views on the tariffs’ effects, which means the combination of dealer and House-Hasson local market knowledge is the primary factor in planning for the future.
“Industry trends overall may impact everyone, but in other areas what affects a dealer in Pennsylvania and the Caribbean Basin may be very different from a dealer in Arkansas or Georgia,” McCutcheon said. “That’s why the planning with our dealers individually is vital to ensuring everyone’s success.”
Ace Hardware reports record Q3 results
New store growth and digital sales are highlights of the co-op’s third quarter
Oak Brook, Ill.-based Ace Hardware reported $1.43 billion in third quarter revenues, up 6.3% from the same quarter last year. That record figure was fueled by new store growth, comp-store sales growth and a big jump in e-commerce.
The hardware industry’s largest retailer co-op also reported a third-quarter decline in net income, the result of higher expenses including those related to tight labor market and employee turnover at warehouses. Net income was $36.3 million for the third quarter, down from $53.8 million in the third quarter of 2017.
Read the full press release here.
“Strong new store growth, increased same-store sales, and a 35% increase in acehardware.com revenues helped us realize a healthy 6.3% increase in revenues during the third quarter,” said John Venhuizen, President and CEO. “However, we are not immune to the pain of the tight labor market. Expanded product assortment, higher inventory and increased warehouse employee turnover drove expenses up and profits down for the quarter.”
During the quarter, the co-op pushed its total, worldwide store count to 5,210 – 4,449 in the United States. Ace added 50 new domestic stores in the third quarter and cancelled 24 stores. Compared to the third quarter of 2017, Ace’s has added 83 stores in the U.S.
The company said its wholesale operating expenses increased $13.2 million, or 11.4%, from the third quarter of 2017. The increase includes higher payroll expenses from prior year to support higher revenues and lower distribution center productivity due to high employee turnover, labor costs incurred to setup the new Fredericksburg center while shutting-down the Prince George facility. Higher advertising expenses also factored.
Retail revenues from Ace Retail Holdings – essentially the co-op owned Westlake Ace Hardware –were $79.0 million in the third quarter, up 20.6%. The increase was the result of new retail stores added since the third quarter of 2017. ARH operated 122 stores at the end of the third quarter of 2018 compared to 108 stores at the end of the third quarter of 2017.
Venhuizen also highlighted the efforts to perform in extreme weather conditions. “I’d like to thank the entire Ace team for their heroic efforts to get products to our retailers that were affected by the devastation of hurricanes Florence and Michael.”
Do it Best names Rental Merchandise Manager
The Indiana-based co-op announced the promotion of Lauren Wilson.
Fort Wayne, Ind.-based Do it Best promoted Lauren Wilson to Merchandise Manager. Wilson will develop, implement and communicate comprehensive programs for the co-op’s Rental, Impulse, Snacks and Store Supplies departments, as well as work closely with vendors to deliver profitable promotions and pricing on behalf of member-owners.
The move will take effect Dec. 3.
“Lauren’s extensive experience as a part of our merchandise team will allow her to make immediate contributions in this important role on our team,” said Dent Johnson, VP of merchandising at Do it Best. “She’s already proven her ability to drive results for our members – and we are excited to see how she will help them grow even more with the right products and programs for these categories.”
Wilson is a six-year veteran of Do it Best, most recently serving as the associate merchandise manager for the Lawn & Garden Green Goods department. She’s also worked as the associate merchandise manager in global sourcing. Wilson earned an MBA from Indiana University in 2008.
“I am honored to take on the challenges and opportunities presented by this role,” Wilson said, “and I’m eager to help drive growth for our members through these profitable categories.”


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Total cargo handled by major ports increased by 4.3 per cent to 606.37 mn t last fiscal as against 581.34 mn t in 2014-15, Parliament was informed.
´Overall traffic handled by the major ports during 2015-16 has been 606.37 mn t which represents an increase of 4.3 per cent over the cargo handled of 581.34 mn t during the previous year 2014-15,´ said Pon Radhakrishnan, Minister of State for Road Transport, Highways and Shipping, in a written reply to the Rajya Sabha.
The minister further said that major ports have continued their recovery and improvement in efficiency parameters like turnaround time has lowered logistics cost for the trade. He further said that 94 MTPA of capacity was added to the ports in FY16 which in the highest ever in a single year.


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Wimpey shrugs off cooling market
FURTHER signs emerged today of a cooling UK housing market as housebuilders George Wimpey and MJ Gleeson warned of a slowdown in trading since the summer.
Wimpey said that the cooling would have a 'modest impact' on sales volumes for its financial year ending 31 December, with little or no price inflation. The company sold 12,900 homes in Britain last year.
'We are seeing healthy visitor levels and good underlying demand from customers but little or no price inflation in the market,' Finance Director Andrew Carr-Locke said in a telephone interview. Overall, UK house prices remained stable, he added, although buyers were more cautious.
Wimpey, which posted a 29% jump in half-year profits in July, said in its trading update that full-year pre-tax profits should be in line with market forecasts of about £440m, greatly helped by improvements in the company's US business.
Gleeson warned that the slowdown 'may well preclude a further significant uplift' in its current financial year ending 30 June 2005. Pre-tax profits last year almost doubled to £17.6m.
The company's Gleeson Homes division sold 496 houses last year, less than it had targeted, with some 70 deferred into 2004-05. Both Gleeson and Wimpey are returning to the use of incentives to drive sales.
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The New Jersey Manufacturing Extension Program (NJMEP) and New Jersey Business & Industry Association (NJBIA) are co-sponsoring the 6th annual National Manufacturing Day event Friday at the Bridgewater Marriott.
The annual “Made in New Jersey” event will see hundreds of manufacturers, business and community leaders, students, and educators on hand to discuss the importance of the manufacturing industry to New Jersey’s economy. According to the Center for Manufacturing Research, New Jersey’s total manufacturing output was $44.5 billion 2015 and accounted for 7.84 percent of the state’s gross domestic product.
According to NJMEP, every $1 spent on manufacturing adds another $1.81 to the state’s economy.
A Joint Legislative resolution recognizing Manufacturing Day in New Jersey will be presented at the event, which comes just two weeks after the first meeting of the Legislature’s new bipartisan Manufacturing Caucus. The bipartisan caucus, which the NJBIA long advocated for, is designed to address solutions to the challenges New Jersey manufacturers face.
National Manufacturing Day occurs on the first Friday in October. The National Association of Manufacturers (NAM) states more than 2,500 events will take place across the country this year recognizing the day.
To register for Friday’s NJMEP event, visit here.


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Degussa Opens New Plant
Published December 9, 2005
Degussa Corporation, Parsippany, NJ, began operation of a new plant for the manufacture of Aerosil fumed silica dispersions, which are marketed under the Aerodisp trademark. The plant, which is part of Degussa’s production site in Mobile, AL, more than doubles the global production capacity for Aerodisp products.
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Ola, Indian ride-hailing company, has raised $300 million in Series J round from Hyundai Motor Co. and Kia Motors Corp which is considered to be their biggest combined investment to date. They also invested around $250 million in ride-hailing giant Grab last November. Ola expects the investment round to raise $1 billion to battle their rival Uber.
Ola gets backed by Hyundai, Kia Motors
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Although most Americans are still grossed out by eating bugs, many Americans are starting to realize that eating bugs is good for you health. It seems like cricket powder is available at every local grocery store these days. So the days of regarding bugs as inedible vomit-inducing food on shows like Fear Factor are now coming to an end. At least the attitudes that most Americans have towards eating bugs have probably changed for the better.
Much of what the western world knows about edible-insects comes from Sweden. Much insect research has been conducted among Swedish scientists during the past couple of years. Now some of those same scientists are touting bugs as the next great food source. In fact, the researchers believe that bugs could even become an enjoyable snack, like Triscuits, if Americans would just give edible insects a chance.
According to one of the researchers, and the author of a new book that describes edible insects from all over the world, Josh Evans, avoiding edible insects out of disgust does not make sense. Evans believes that insect eating can take off in about any country since each country contains many different social groups and cultures. Here in the United States, for example, we do not live under one monolithic culture. Instead the United States is particular ripe for an edible insect revolution. There are already many people who form a big part of American population that came from places where eating bugs was accepted and enjoyed, most notable people who emigrated from Mexico.
The way that different insects taste is also so expansive that there is probably no insect anywhere that nobody likes to eat. In order to make insects tastier you may have to travel to areas where insects have been a part of a culture of a while. But Evans is particularly fond of bee larva because it is 50 percent and 20 percent fat and it has a hearty taste.
Would you eat a bug for money? Or have you already developed a taste for bugs?


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While Lebanese people are experiencing their income shrink due to the huge devaluation of the national currency, the car sector in Lebanon is taking its last breath with the huge reduction of car sales, as Lebanese people are now prioritizing their expenses to only essential goods.
The Association of Car Importers in Lebanon (denoted as AIA) recently stated in its automotive report that “As a result of the dramatic Beirut Port Explosion on 4/8/2020 and due to the Covid-19 lockdown, the damages that importers of new cars incurred in their properties are estimated at tens of Million of Dollars. This will lead to the closing down of a number of companies and to the licensing of a large number of their employees and workers”.
More generally, the market has been facing increasing challenges in the last two years mainly resulting from a severe reduction in purchasing power of customers as well as ceasing loans from the Lebanese banks. As a result, passenger cars dropped by 54.95% yearly to 1,434 by May 2021.
In details, as of May 2021, European cars took the highest share of 30.33% of Total cars. Second, Japanese Cars estimated 27.27% of the total; with Suzuki and Toyota recording 8.79% and 9.00%. Moreover, Korean Cars came third, measuring 25.17% with KIA owning Lion’s share of 18.06% among them.
We don’t expect any rebound in this sector, even if the economic situation gets better, since the Lebanese behavior has changed amid this severe financial crisis, as they became more cautious about their spending habits.
Growth of Registered Passengers Cars by May 2021