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Category: Economy
H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum has reviewed the Economic Security Center of Dubai’s strategic plan for 2025-2030. This new strategy is designed to enhance Dubai’s economic stability and growth by identifying investment opportunities, addressing economic risks, and protecting society from economic crimes. It aims to reinforce Dubai’s position as a global...
Sharjah Economic Development Department (SEDD) Chairman, Hamad Ali Abdullah Al Mahmoud, recently reviewed the progress of the “Digital Warehouses” project, a key initiative under the Sharjah Foundation to Support Pioneering Entrepreneurs (Ruwad). The project had showcased its potential at the Global Startup Festival COMEUP in Seoul, Korea. During a meeting at the SEDD headquarters, the...
H.H. Sheikh Abdullah bin Zayed Al Nahyan, the Deputy Prime Minister and Minister of Foreign Affairs of the UAE, held a phone call with US Secretary of State Antony Blinken on January 18, 2025, to discuss the strategic relations between the two countries. This conversation reflects the ongoing commitment to enhancing the partnership that has...
Dubai Police announced that it will temporarily suspend services on its website and smart applications beginning at 12am on Sunday, January 19, 2025. This decision was shared through a post on X, where the authority emphasized that the suspension is part of an update to its traffic services. The update will result in a brief...
The UAE has become the second most popular destination for millionaires leaving the UK, with more than 800 high-net-worth individuals relocating to the Emirates in 2024. According to data from Henley & Partners, the exodus comes as the UK prepares to implement significant changes to its tax regime. The UK government, led by Keir Starmer,...
Starting January 31, 2025, Dubai’s SALIK will implement a flexible toll tariff system across all its gates, aiming to enhance traffic flow in the city. The new system will bring changes to toll charges based on the time of day and will exclude the holy month of Ramadan. Under this plan, toll fees will be...
A top-level delegation from the UAE, led by the General Secretariat of the National Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations Committee (NAMLCFTC), visited Paris to strengthen UAE-France cooperation in tackling financial crimes and boosting global economic security. During the visit, the UAE delegation presented its National Strategy 2024-2027 aimed at...
The UAE has secured a place among the top 35 countries globally with the largest shipping fleets, based on tonnage and capacity, according to the 2024 report by the United Nations Conference on Trade and Development (UNCTAD). The report also highlighted the presence of three other Arab countries—Saudi Arabia, Oman, and Qatar—on the list. Data...
The United Arab Emirates, through the Ministry of Finance, has successfully concluded the final round of negotiations for a Double Taxation Avoidance Agreement concerning income and capital with the Russian Federation. This significant achievement highlights the UAE’s dedication to enhancing economic and tax cooperation. The agreement aims to create a business-friendly environment that safeguards taxpayers’...
The OPEC Fund for International Development is making a significant investment in renewable energy by co-financing Africa’s largest onshore wind power project. The fund is contributing US$30 million towards the construction of two wind farms, each with a capacity of 550 MW, located in Egypt’s Gulf of Suez region. Together, these facilities will have a...