BXB Blog: SME Insights and Trends

tax law Featured

UAE Introduces New Tax Law…

UAE announces eInvoicing to simplify tax procedures for businesses in the country.

Abu Dhabi Featured

Gold Prices Surge to All-Time High…

Gold prices surging to an all-time high of $2,708 last week, as expectations of further rate cuts by the US Federal Reserve and uncertainties over the impending US election, boosted demand for bullion.

Abu Dhabi Featured

Dubai Rises as Epicentre of PropTech Innovation…

PropTech startups in the MENA region secured $200 million in funding in the first half of 2024.

Real Estate Featured

Dubai Real Estate: Secondary Market Sales Topped $20.8bn in H1…

The Dubai real estate is thriving, with secondary sales of properties reaching AED76.34bn ($20.8bn) in the first half of the year.

US elections Featured

US Presidential Election 2024: Markets in Suspense as Latest Odds give Trump a 4% edge over Harris…

The US election betting odds posting a significant 4 percent jump in favour of Donald Trump at 51 percent, over 47 percent for Kamala Harris, in the week ended on Monday, September 2, over the previous week.

AML Featured

UAE Tightens Anti-Money Laundering Laws…

UAE tightens anti-money laundering laws, forms new committees to fight financial crime.

business Featured

Major Global Tech Outage Leads to Disruptions Across Multiple Sectors from Airlines to Banks…

Major equities markets ended in the red last week, following a global tech outage that led to disruptions across multiple sectors from airlines to banks, raising questions about cybersecurity and interconnected / integrated ecosystems.

Featured

Dubai Announces World’s Largest Fruit and Vegetable Market…

Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, announced the development of the Logistics Hub for Foodstuff, Fruit and Vegetable Trade, the largest such facility in the world.

DIFC

13 Reasons to Set Up a Business in the UAE…

The UAE has become a top global destination for businesses focusing on innovation, artificial intelligence, and entrepreneurship.

Dubai Featured

Dubai Scores Again as AC Milan joins Real Madrid, Barcelona, Man City, PSG and more in opening base in the Emirate…

Dubai has a goal to become a major hub for international football clubs setting up training academies.

Dubai Residentcy Featured

UAE Announced a New 10-year Blue Residency…

UAE announced a new 10-year visa for individuals who have made “exceptional contributions and efforts in the field of protecting the environment”.

Dubai Featured

Why are International Businesses relocating to Dubai…?

UAE News: Dubai will “never compromise” on the safety and security of individuals visiting, living and working in the city, Hoor Al Khaja, Senior Vice President of International Operations at Dubai Department of Economy and Tourism (DET) told Arabian Business. From January to March 2024, DET recorded 5.1 million

Dubai Featured

UAE Golden Visa: Wealthy ‘Retirees’ Flock to Dubai after $272,000 Rule Change…

Dubai’s exceptional services and amenities, including addition of a range of world-class healthcare facilities, are also acting as catalysts for potential relocation for cash-rich retirees.

Dubai Featured

UAE Announces Ramadan 2024 Working Hours for Public and Private Sector…

UAE News: The UAE has announced reduced working hours for the public and private sectors during Ramadan 2024. The Ministry of Human Resources and Emiratisation (MoHRE) announced a reduction of two working hours per day for private sector employees during the Holy Month of Ramadan. UAE is forecast to grow

Taxation in UAE Featured

UAE has No Plans to Introduce an Income Tax or Raise VAT…

UAE has no plans to introduce an income tax or raise VAT, reiterated the Undersecretary of the Ministry of Finance on the sidelines of the World Governments Summit in Dubai.

Dubai Featured

UAE Golden Visa Eligibility Requirements Eased for Dubai Real Estate Investors

UAE’s economy is forecast to grow by 5.7% YoY in 2024, according to the Undersecretary of the Ministry of Finance.

Dubai Featured

BRICS UAE, Saudi Expansion Marks Biggest Challenge to the US Dollar in the 21st Century…

UAE News: Dubai PMI rose to a 16-month high of 57.7 in December (Novemver: 56.8), supported by the wholesale & retail sector’s strong “upturn in sales” alongside the travel & tourism sector’s “rapid” growth. New order growth was the second-fastest recorded since June 2019 and job

Dubai Featured

UAE ‘Silver Visa’: 5-year Trade Licence and Visa Package…

Dubbed a “silver visa” the start-up offer is available at a fraction of the price of golden visas, which can require significant financial investments.

SME News Featured

Dubai’s Real Estate Sector to witness a price drop of 5-10% …

Dubai’s real estate sector to witness a price drop of 5-10% in the next 12-18 months, given concerns of dampened buyer interest and lower demand alongside oversupply, in addition to increasing competition.

SME News

The GCC’s interior ministers approved the unified GCC tourist visa …

The GCC’s interior ministers approved the unified GCC tourist visa, which will enable and streamline travel across the GCC. This is expected to become operational between 2024-25.

SME News

The Cairo Peace Summit condemned the Israel-Gaza conflict…

The Cairo Peace Summit condemned the Israel-Gaza conflict but fell short of reaching an agreement calling for an end to the violence.

SME News

Dubai launches major crackdown on economic crimes…

Dubai has launched a new platform as it looks to crack down on money laundering, terror funding, bribery, forgery and embezzlement.

SME News

Spinneys is planning an IPO in Q2 2024 …

The company has 65 outlets in the UAE and operates 7 stores in Oman.

SME News

Over 30,000 new businesses were registered at the Dubai Chamber of Commerce in H1 2023…

Indian businesses account for more than 1/5th of the total (22%), followed by the UAE (4,445 firms) and Pakistan (3,395).

SME News

BRICS Extended an Invite to Egypt, Iran, Saudi Arabia, and the UAE to Join the Group …

This is the group’s first expansion in 13 years. Officially, the nations will join the group on January 1, 2024.