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Dubai scraps 30% tax on alcohol sales amid economic rebound

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Dubai scraps 30% tax on alcohol sales amid economic rebound

Dubai has suspended a tax of 30% on alcohol and dropped a licence fee previously needed to buy alcohol in the commercial and tourism hub, two major retailers said on social media. The move is expected to further boost the appeal of Dubai to tourists and expatriate residents drawn by its more liberal lifestyle, compared … Read more

Wall Street ends lower, Dow confirms bear market

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Wall Street ends lower, Dow confirms bear market

Wall Street slid deeper into a bear market on Monday, with the S&P 500 and Dow closing lower as investors fretted that the Federal Reserve’s aggressive campaign against inflation could throw the U.S. economy into a sharp downturn. After two weeks of mostly steady losses on the U.S. stock market, the Dow Jones Industrial Average … Read more