Circuit X has made a significant impact in the field of electronics in the United Arab Emirates (UAE). The circuit’s ability to perform a variety of functions, coupled with its flexibility, has made it an attractive option for a range of industries across the UAE, including telecommunications, computing, and industrial control systems. In the UAE, […]
Saudi Arabia has launched a new airline called Riyadh Air, backed by the Public Investment Fund (PIF). The new carrier aims to boost the kingdom’s aviation sector and cater to the growing demand for air travel in the region. Riyadh Air was officially launched in December 2021 and is set to commence operations in the […]
The United Arab Emirates (UAE) is known for its luxurious lifestyle and world-class amenities. One of the most popular indulgences for visitors and residents alike is a visit to a lavish spa. From traditional Arabian treatments to innovative modern therapies, the UAE offers a range of spa experiences that are sure to leave you feeling […]
The UAE has experienced substantial economic growth. Government policies, investment levels, changes in global economic conditions, and a variety of other factors can all have an impact on GDP growth. It’s also worth mentioning that economic forecasts are frequently subject to adjustment when new data becomes available, and actual results may differ from expectations.
The resolution clarifies certain rules set out for natural persons and legal persons residing in the Emirates. It lays down rules which determine as to when a person, whether natural or legal, may be considered as a tax resident in the UAE. The rules have been framed in consonance with internationally recognized standards and are set to come in force from March 1, 2023.
On Wednesday, Dubai unveiled a 32 trillion dirham ($8.7 trillion) economic plan with aims to boost trade and investments over the next decade as it seeks to double the size of the emirate’s economy. The new agenda, also known as D33, comprises up to 100 transformative projects in Dubai as the government strives to rank […]
Dubai’s Department of Economy and Tourism has established three subsidiaries in order to expand the business. The new organizations will make doing business in the city easier and will attract international investment to the UAE. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of Dubai, enacted new legislation to start the new businesses.
Due to its favorable tax policies, rich culture, and growing economic climate, Dubai was already a popular relocation destination. Dubai has drawn a large number of expats from all over the world, particularly from the Middle East, South Asia, and Africa.
Dubai is seeing an increase in the number of luxury branded properties. With over 70,000 millionaires, the UAE is expected to see a 22% increase in high-net-worth families by 2027. According to the most recent wealth report by New World Wealth, the United Arab Emirates (UAE) is home to more than 70,000 millionaires.
According to UAE Minister of Economy Abdullah bin Touq Al Marri, the UAE’s GDP would grow by 7.6 percent in 2022, more than double the expected 3 to 4% growth. “When the Central Bank (of the UAE) and all of the country’s financial institutions declared in March last year that the UAE’s GDP would rise at a rate of 3 to 4%. Now, and this has yet to be reported, we are looking at a (growth rate of) 7.6 percent,” Al Marri added.
