UAE and Israel sign tax treaty to boost economic cooperation
an hour ago Officials attend the signing ceremony. Israel and the United Arab Emirates signed a tax treaty on Monday, Israel’s Finance Ministry said, describing the move as a spur to business development between the countries after they normalised relations last year.
The UAE finance ministry said in October that it had reached a preliminary agreement with Israel on avoiding double taxation.
The tax convention, once ratified by ministers and parliament this year, will be Israel’s 59th and go into effect on Jan.1, 2022. It is the first tax treaty reached in the wake of Israel’s normalising relations with the UAE and Bahrain last year. In parallel, Israel has moved to improve ties with Morocco and Sudan.
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May. 3, 2021 1:03 PM
Intel said on Sunday it will invest another $600 million in Israel to expand its research and development (R&D) and confirmed it was spending $10 billion on a new chip plant.
The announcement was made during a one-day visit to Israel by Intel Chief Executive Pat Gelsinger as part of a European tour that included Germany and Belgium last week.
Intel is investing $400 million to turn its Mobileye unit headquartered in Jerusalem into an R&D campus for developing self-driving car technologies.
Another $200 million will be invested in building an R&D center, called IDC12, in the northern port city of Haifa next to its current development center.