SME News 2,000 Millionaires moved to Dubai in less than a Year despite COVID-19 for Safety, Luxury and Tax Benefits... According to New World Wealth Dubai’s population of high-net-worth individuals (HNWIs), rose to 54,000 in June 2021.
SME News Fully Vaccinated Tourists from Across the World are eligible to apply for UAE Visit Visas starting 30th August... The visitors will require a mandatory rapid PCR test at the airport and need to register on the Al Hosn app.
SME News Dubai’s E-commerce Business Licenses Surged by 63.05% YoY in H1 2021... IT topped the list of licensed activities, followed by ready-made garments and ladies tailoring and design among others.
SME News Dubai-based Unicorn, Swvl to List on the NASDAQ... Dubai-based Swvl (a mass transit and shared mobility services provider) with a USD 1.5bn valuation, will list on Nasdaq through a SPAC.
SME News Dubai Re-opens Terminal 1 after 15-months of Closure... Around 3,500 jobs were created additionally to support the overall capacity of about 18mn passengers.
SME News Property Sales in Dubai touched a 4-year High, Sales up 324% YoY... Dubai’s biggest listed property developer Emaar reported a 250% jump in property sales to AED 10.5bn in January-May 2021.
SME News Dubai’s Real Estate Sales touched 4,832 Transactions... Dubai’s real estate sales touched 4,832 transactions worth AED 10.98bn (USD 3bn, +0.6% MoM) in April – the highest value in four years.
SME News FDI into the UAE Accelerated by 44.2%... Largely due to Adnoc’s various transactions including the monetization of some of its assets and investments into a natural gas pipeline among others.
SME News Dubai unveils the Food Tech Valley... Aiming to triple UAE’s food production, it will host R&D facilities, an innovation centre, a smart food logistics hub and areas for vertical farming.
SME News Capital Market Euphoria continues into another week... Wall Street’s S&P 500 and Nasdaq as well as DAX and Stoxx600 climbed to new highs.
The UAE launches Operation 300bn... “Operation 300bn” has the aim of more than doubling manufacturing’s contribution to the economic output of the UAE to AED 300bn over the next 10 years.
SME News Oil Prices continue to Rise on Expectations of Global Recovery... OPEC+’s move to maintain oil supply restrictions through April along with Saudi Arabia’s voluntary cuts extension drove oil price up to near 14-month highs.
SME News UAE has Vaccinated over 40% of its Population... As of 20 February 2021, the UAE had administered a cumulative 56.15 vaccination doses per 100 people.
SME News UAE becomes the First Arab Country to reach Mars... The Emirates Mars mission, named the Hope probe, reached Mars' orbit at 7:42 p.m. Tuesday 9th February local time and sent a signal back to Earth.
SME News UAE amends Nationality Laws to attract Foreign Talent... UAE will grant Emirati citizenship to investors, talents and professionals including scientists, doctors, engineers, artists, authors, and their families.
SME News Dubai Economy Announced a 132% YoY Surge in Licenses.. Abu Dhabi announced a AED 6bn supply chain financing initiative to support SMEs, funded by the Ghadan 21 SME credit guarantee scheme.
SME News Vaccine Rollouts are Picking up Pace... Vaccine rollouts are picking up pace, with 34.48mn vaccine doses administered globally as of 16th January.
SME News Saudi Arabia, UAE, Bahrain and Egypt Restore Ties with Qatar... The UAE, Saudi Arabia, Bahrain and Egypt have agreed to fully restore ties with Qatar. The four countries signed an accord with Qatar during the 41st Summit of GCC Leaders, bringing an end to the regional impasse.
SME News Sterling Rises on Hopes that an EU-UK Trade Deal could be Close... Dubai issued a new law governing unfinished and cancelled projects: a special tribunal will be set up to oversee the liquidation of unfinished and cancelled projects as well as the settling of related claims.
SME News New Ownership Rules, Jobs and Investments expected to Rise by 35% in Dubai... The first phase of UAE’s economic recovery plan – with 15 initiatives – is more than 46% complete, according to the Economy Ministry
SME News UAE PMI posts Highest Reading in 11 months... PMI in the UAE increased to 51 in September (August: 49.4), posting the highest reading in 11 months. Mildly higher exports sales were reported.
SME News UAE has resumed issuing Entry Permits into the Country... UAE, Israel, and US will establish a joint strategic vision for energy partnership.
SME News Our Weekly Markets Summary... Economic growth in the UAE is forecast to contract by 5.2% this year, revealed the Central Bank’s latest quarterly review.
SME News Normalization of UAE-Israel Ties is estimated to bring Business Deals worth USD 300-550mn... ENBD signed agreements with Israel’s biggest lenders and DP World and Dubai Customs agreed to form trade links with Israel.
SME News Weekly Markets Summary - 17/09/2020 Abu Dhabi launched a new platform “Abu Dhabi Open Data” that offers more than 550 data sets on various sectors including tourism, education, energy and technology.
