How UAE became the least corrupt nation in Arab world
The country has spared no effort to ensure that charges are promptly filed against the corrupt, Khaleej Times reports. As world economies crumbled amid the global recession of 2008, the UAE was among the first to spring into action. Various probes unravelled financial irregularities committed by unscrupulous businessmen and employees. A top public prosecution official […]
The game-changing UAE foreign direct investment law has come into effect
It consolidates the UAE’s position for FDI at the regional and global levels, Khaleej Times reports. The game-changing UAE investment law, which is expected to change nation’s business landscape by attracting increased foreign direct investments, has come into effect. The President, His Highness Sheikh Khalifa bin Zayed Al Nahyan, has issued the new Foreign Direct […]
Microsoft, cloud services to create 55,000 UAE jobs by end-2022
New report says spending on public cloud services in the UAE will almost quadruple to $410m in 2022, Arabian Business reports. Microsoft’s technology ecosystem and the growing popularity of cloud services will create more than 55,000 jobs in the UAE by the end of 2022, according to new research. The International Data Corporation (IDC) study […]
Revealed: how Dubai homes are becoming more affordable
Bloomberg Global City Housing Cost Index shows 47% of average monthly salary goes on housing compared to 71% last year, Arabian Business reports. Getting on to the housing market ladder in Dubai is getting easier with affordability levels rising, according to the annual Bloomberg Global City Housing Cost Index. The UAE city fell 29 spots […]
Dubai launches its first investment week amid record foreign inflows
Dubai on Monday launched its first-ever investment week, held under the theme “Investing in Future Transformations” as the emirate celebrated record foreign fund inflows, CNBC reports. The event, focused on new technologies and private-public partnerships, is aimed at attracting more private investment to boost growth and job creation amid soft employment figures. Foreign direct investment […]
How to successfully launch a business in the UAE
There are various ways to turn your start-up idea into a small business, Gulf News reports. So you’ve had your lightbulb moment and have decided to setup your own company. What now? How do you turn that big idea into your very own small business? There are many reasons to start your own business. You […]
Dubai maintains high investor confidence with a 26pc increase in FDI
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and the Chairman of The Executive Council, said that increasing foreign direct investment (FDI) inflows reflect growing investor confidence in Dubai. FDI into Dubai recorded significant growth in the first half of 2018, reaching USD 4.84 bn (AED 17.76bn), a 26% […]
DED issues permits to 163 free zone companies to expand their operations across the emirate
The Department of Economic Development (DED) in Dubai has permitted 163 free zone companies to operate in mainland Dubai following a memorandum of understanding (MoU) signed earlier this year between DED and the Dubai Free Zones Council. The MoU sought to enable free zone entities in Dubai to expand their operations across the emirate, and […]
Revealed: the economic benefits of Dubai Metro by 2030
New study, carried out by the Roads and Transport Authority, reveals the direct and indirect economic benefits of Dubai Metro, Arabian Business reports. Accumulated economic benefits of Dubai Metro during its first seven years of operation reached AED66 billion ($18 billion) against AED41 billion in costs, according to a new study by the Roads and Transport […]
DED issues 1,221 new licenses in August as Dubai remains top choice for investors
The Business Registration & Licensing (BRL) sector in the Department of Economic Development (DED) in Dubai completed 17,710 transactions including 1,221 new trade licenses during the past month according to the ‘Business Map’ digital platform. Renewal of Licenses accounted for 9,071 transactions while there were also 2,111 transactions related to Trade Name Reservation and 1,475 […]