Economy

A recent report from the Business Registration and Licensing (BRL) sector in the Department of Economic Development (DED), Dubai, has indicated that the License Renewal accounted for 12,989 transactions during October, an increase of 17.3% compared to September (11,072 transactions). Of these, 5,758 transactions were related to Auto Renewal via …

The Business Registration & Licensing (BRL) sector in the Department of Economic Development (DED), Dubai, added 44 new business activities across a number of sectors in first 10 months of 2018 following that tracked local market needs, supply and demand in those vital sectors. The move, which is part of …

A total of 537,000 business activity licenses has been issued by the end of October 2018, 1 percent up from August of the same year, according to the Ministry of Economy’s statistics. The growth reflects the economic uplift recorded since the beginning of the year, with the Central Bank of …

The UAE economy is projected to grow at 2.9 percent in 2018 and 3.7 percent in 2019 against and estimated growth of 0.8 percent, reported Gulf News in an article in the paper today, quoting the latest regional economic outlook report of the International Monetary Fund (IMF). “Growth projections are …

H.H. Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, Minister of Finance, and Chairman of the Board of the Federal Tax Authority, FTA, has issued the Decision No. 02 of 2018 on the Tax Refunds for Tourists Scheme, setting out the implementation dates for phases one and two …

President His Highness Sheikh Khalifa bin Zayed Al Nahyan, has issued a federal law, authorising the UAE Cabinet to grant temporary licenses for the testing and vetting of innovations that utilise future technologies and its applications such Artificial Intelligence (AI). The law aims at providing a safe test environment for …

The United Arab Emirates ranked 10th on the list of the world’s most dominant economic and political powers in 2018, according to the US News World Report, where US headed the list, followed by Russia, China, UK, Germany, France and Japan, respectively, with Saudi Arabia coming ninth. According to the …

The Federal Tax Authority, FTA, applauded the high tax compliance rate and increased tax awareness among businesses in the UAE in particular the automotive sector, reiterating its commitment to empowering businesses to play an active role in driving growth in the national economy, and to ensuring tax regulations do not …

Abu Dhabi Police seized counterfeit goods valued at more than Dh100 million, the seized items were about 1.3 million commercial products, including items with the names of 31 famous brands. The items were categorized as the following: Jewelry, medical equipment, vehicle oils, accessories, clothing, perfumes, sunglasses, watches, bags, wallets, shoes, …

Within its efforts towards more coordination with the Brand Owners’ Protection Group and as part of its commitment towards the environment, Dubai Customs cooperated with the brand owners and helped them recycle 17.91 million counterfeit items. This step reflects the high level of coordination between Dubai Customs and its stakeholders …