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Mastercard acquiring the Israeli tech personalization platform Dynamic Yield from McDonald's

Mastercard announced the purchase of Israeli tech start up Dynamic Yield from US fast food giant McDonald’s, which it acquired only two years ago for about $300 million. The companies did not disclose the cost of the interaction, but it is believed to be higher than the amount paid by the fast-food franchise company on its acquisition. Dynamic Yield is considered to be one of the leading personalization platforms in the world. Founded in 2011 by Liad Agmon and Omri Mendellevich, Dynamic Yield’s service uses machine learning algorithms and developed an AI omnichannel personalization engine to help businesses tailor their website to individual consumers according to behavioural patterns. McDonald’s had hoped to boost sales using the technology to create drive-through menus that change based on the time of day, weather, current restaurant traffic, and trending menu items, and display additional items based on customers’ current selections at ordering kiosks. Dynamic Yield had remain

Bahrain is planning to double its VAT rate

After Saudi Arabia raised its Value Added Tax from 5 to 15% effective from 1st July 2020 now Bahrain is also set to double the VAT rate to 10% in the country. With this step the VAT rate is the second highest in Bahrain in Gulf countries after Saudi Arabia. currently the vat rate is 5% in Bahrain, the business registered in Bahrain which are engaged in performing economic activities and undertaking taxable supplies or importing goods exceeding 1 lakh US Dollar, are liable to collect VAT at 5% and remit it to Bahrain govt.  Earlier in 2018 Saudi Arabia, UAE and Kuwait, the three diplomatic allies of Bahrain and most wealthiest countries in Gulf. promised 10 billion dollar to aid the country's reform programs and to reduce fiscal deficit. despite receiving the bail out package from neighbors the country is facing the region's widest budget deficit. Bahrain is raising the rate to aim at eliminating its budget deficit which is delayed by 2 year and now is targeting to achieve it by