SME News UAE Increases Fuel Prices for the Fifth Time this Year... Fuel costs three times more than in Kuwait and is more than double the average in GCC members.
SME News Saudi Arabia has lifted COVID-19 Measures... The mask mandate however still stands in the Grand Mosque and the Prophet’s Mosque.
SME News Dubai has Achieved the Top Ranking in the World in Attracting FDI in 2021... Dubai has achieved the top ranking in the world in attracting foreign direct investment (FDI) in 2021, with a record number of 418 greenfield FDI projects.
SME News DMCC Reported that a Record Breaking Number of 665 Firms Registered in Q1... Programs have seen a 34% increase in Chinese firms while company registrations from Israel and Turkey surged 350% and 100% during Q1.
SME News DEWA to Raise up to USD $2.19bn via its IPO... This is expected to be the biggest IPO on the exchange since 2007.
SME News Dubai Adopts its First Law governing Virtual Assets... The law did not specify which assets would come under this, but it will apply across all of Dubai other than in the DIFC.
SME News Dubai Plans to Attract 50 MNCs within 3 Years... As a part of the Dubai International Chamber’s 3-year strategy, it will also support 100 Dubai-based companies with international expansion.
SME News Spending in the UAE is now above Pre-Pandemic Levels... International and domestic spending volumes were up by 104% and 17% YoY in December.
SME News UAE First Nation Globally to Adopt a 4.5 Day Working Week from 1st Jan 2022... The changes will allow the UAE to align more closely with global markets and will apply to the public sector and schools.
SME News UAE Aims to House 20 "Unicorns" by 2031... UAE’s Ministry of Economy disclosed that growth currently exceeds pre-pandemic levels in trade, investment, number of new companies, work permits and economic revenues.
SME News Abu Dhabi announced a “Virtual” License for Non-Resident Foreign Investors... This allows conducting business from outside the UAE and within the Emirate. Permits cover 13 economic sectors and can either be a limited liability company or a sole proprietorship.
SME News The World’s Greatest Show - Dubai Welcomes in EXPO 2020... Expo 2020 opened for the public from 1st October with 60 live events each day and more than 200 pavilions at the event.
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.
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.
