Dubai Financial Market: Best-Performing Stock Exchange in the Gulf with 10.9% Growth in 2024
Dubai’s Financial Market (DFM) is currently the top-performing stock exchange in the Gulf Cooperation Council (GCC) region, boasting a remarkable 10.9% growth in 2024. This significant increase places DFM ahead of all other GCC stock exchanges, a record set as the market continues to show sustained strength and resilience. According to an economic report […]
Relief for UAE Businesses as FTA Extends Corporate Tax Deadline
The Federal Tax Authority (FTA) has announced a significant corporate tax extension, providing much-needed relief to UAE businesses. The decision, formalized in FTA Decision No. 7 of 2024, offers an extended filing deadline for companies incorporated on or after June 1, 2023, whose tax periods end on or before February 29, 2024. These businesses […]
Dubai’s $272bn Real Estate Target and Cashless Future: 5 Major Plans for the Next Decade
Dubai is setting its sights on a transformative decade with the approval of five key strategies that aim to reshape the city’s economy, infrastructure, and society. His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, has endorsed these initiatives, signaling a bold vision for the next 10 years. These […]
UAE Shines at G20 Tourism Ministers’ Meeting in Brazil
Highlighting Global Tourist Attractions and Sustainable Growth The UAE recently participated in the G20 Tourism Ministers’ Meeting 2024, held in Brazil, to discuss global tourism strategies and sustainable growth. Abdullah bin Touq Al Marri, UAE’s Minister of Economy and Chairman of the Emirates Tourism Council represented the country at this significant global event. […]
Dubai Launches Instant Bank Accounts for Entrepreneurs and Investors
Aimed at supporting business setups in Dubai, new entrepreneurs can now benefit from an instant bank account service. This initiative, spearheaded by Dubai Economy in collaboration with several leading banks, streamlines the traditionally complex process of opening a bank account for startups. Entrepreneurs, freelancers, and small businesses can now take advantage of faster, more efficient […]
Dubai Real Estate Owners Earn 41% More Than Tenants, Study Finds
A recent report by Betterhomes has unveiled that property owners in Dubai are earning an average of Dh13,000 more per month than tenants, largely due to a significant increase in rental prices over the last three years. According to “The Future Living: Dubai 2024 Edition” report, tenants in Dubai earn an average monthly income […]
449 Million Air Passengers, Industry Set for Record-Breaking Growth
Middle East air passenger traffic is projected to soar to 449 million in 2024, marking a significant milestone in the global aviation industry’s recovery. According to the Airports Council International (ACI), this figure represents 110% of pre-pandemic levels, demonstrating the region’s rapid rebound after the challenges posed by COVID-19. Key Drivers Behind Middle East Aviation […]
Tenancy Contract No Longer Mandatory for Dubai Family Visa
In a significant move aimed at simplifying the Dubai family visa rules, authorities have announced that a tenancy contract is no longer a mandatory requirement for obtaining a family sponsorship in Dubai. This change is expected to benefit many expatriates, making it easier for them to sponsor their families without the added burden of […]
UAE KYC Update | For Smooth & Secure Banking
With growing digitalization in the banking sector, the UAE government has introduced updates to Know Your Customer (KYC) requirements to ensure that banking operations remain secure and compliant. As part of this UAE KYC update, residents must now link their Emirates ID with their bank account. This process is crucial for maintaining access to essential […]