Traveling to Dubai? One should be especially cautious as there are many restrictions with regards to what is allowed or prohibited to be imported into the UAE. There are prohibited and restricted goods that are prohibited for import to UAE and those that are allowed with some restrictions if the travelers do not want to…
The public transportation users in Dubai have been recently set for a major shift in their travelling routines by the Roads and Transport Authority (RTA) based in the city. Starting from August 17, 2024, which is to become the new regulation, minimum top up amounts at ticket booth located in the Metro station for the…
DP World based in Dubai is a global provider of freight forwarding services that has in recent past struggled with low revenues with profit for the first half of 2024 being 59% less. This decline can be explained mainly by the increase in geopolitical risks in the Red Sea where Yemen’s Houthi rebels stepped up…
This year, the Dubai Court of the First Instance acknowledged cryptocurrency legal for use in salary payments, thus, changing the legal status of the United Arab Emirates drastically. This case shows that, through this decision, the court is opening the UAE’s doors to approach digital currencies in the same overarching manner as other financial instruments….
In the recent past, there have been changes on the part of the landlord in the rental market of Dubai, which are more favorable for tenants and flexible payment system. This flexibility is most apparent in the new generation building where landlords are accommodating the multiple cheque payment requirements by the tenants and sometime come…
The DMCC remains an influential entity in defining Dubai’s economy to this present day all the same. Among the emirates, Dubai was the most active receiving a rate of 15% of FDI from DMCC in the first half of 2024 and 7% of the GDP of the emirate. The above statistics put into perspective the…
The projects such as Palm Jebel Ali and Dubai Islands are back to the limelight to boost Dubai’s image in global market. Post 2009 crash on oil market, few structures were in construction phase off what is now the series of developments to change skyline of Dubai, its coast line and hospitality profile to write…
A new report by Dubai’s Property Finder shows that an all-high of 10,022 off-plan properties were sold in the July 2024. This growth has been attributed to the continuous expansion of the city and the growing investors’ interest in the property business. Key Aspect Details Total Off-Plan Homes Sold 10,022 Percentage of Total Transactions 68.5%…
The UAE has boost its progress in combating financial crime following the new formations of anti-money laundering committees. This reveals a stand of the country to preserving the financial sector and strengthening cooperation in the fight against illicit flows. Key Aspects of UAE’s Anti-Money Laundering Efforts Aspect Details Executive Office Established The UAE established the…
This is a major boost to the fledging fintech industry in Dubai, a location that has SAV as one of its native fintech companies and a key that has received a permit from the Dubai Financial Services Authority that will enable the company to operate under the new Category 4 license in the location. This…
The status of Dubai as a global financial city and the center of attraction for Indian SFOs has emerged more and more vigorously in the present context. The rise in demand of these Indian SFOs is now increasingly evident with Lighthouse Canton – a leading investment institution. This trend shows that there is a rising…
Recent development that has eyed MultiPass in moving closer to the Middle Eastern market is that has been granted an operational financial services license in UAE. This regulated strategic step enables Dubai-based MultiPass to extend the delivery of its unique financial products and services to the international trade companies. Key Aspects of MultiPass Securing Licence…
