Everything you need to know about the ever-evolving world of business including the latest updates in business and economy in Dubai.
Small businesses in the UAE with income up to 3 million Dirhams can opt for corporate tax relief. The Ministry of Finance has released a Ministerial Decision No. 73 of 2023 on Small Business Relief for Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses also called the “Corporate Tax Law”. … Read more
Dnata is a leading company in Dubai. It operates in the capacity of being the largest global air and travel services provider. Over time, it has emerged to be a phenomenal food catering company that is now expanding its footprint across different nations such as Australia. Dnata Partners is contributing massively to the gross domestic … Read more
Under the new Commercial Transactions Law of UAE, the minimum age for starting or handling a business has been revised to eighteen years. According to the Ministry of Economy, the new law will help boost the business environment in the UAE enabling more individuals to start their own entrepreneurship. The announcement of these new laws … Read more
According to a new scheme introduced by the UAE government, a person working in the UAE can take a year off if they are planning to set up a business. The Entrepreneurship Leave for Self Employment scheme would be starting on the 2nd of January next year and it will be made available for the … Read more
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, on Friday, announced a national tourism strategy to attract 40 million hotel guests by 2031 in what is perceived as a special effort to revive and boost the economy. By targeting a massive Dh100 billion in tourism investment to … Read more
After Sharjah and Abu Dhabi, Dubai is the latest emirate to showcase a massive surge in revenue collection with regard to the real estate industry. According to the Dubai Land Department, the Dubai real estate market recorded transactions worth $490m (AED1.51bn) on Monday. The prospering Dubai real estate market didn’t slow down as a new … Read more
Another major company recently from the financial capital of UAE Dubai has reached record stakes in terms of the price of a single share in the stock market. The world-famous airline company Emirates is the one reported to reach a figure of Dh4.2 billion, around 1.6 billion in US dollars. It has been reported according … Read more
According to a top official of the Ministry of Economy, UAE has introduced a new cooperative law that would encourage members of the community to found cooperatives in new industries and diversify their businesses in order to expand their contributions to the UAE’s non-oil gross domestic product (GDP) to 5% by 2031. Abdullah bin Ahmed … Read more
In what could be termed as one of the largest layoffs to date at a major technology corporation in a year, Facebook parent Meta Platforms Inc is preparing to cut a long line of their employees from Wednesday morning, Chief Executive Mark Zuckerberg told hundreds of executives on Tuesday. According to the people, thousands of … Read more
Following the successful completion of his $44 billion takeover of Twitter, Elon Musk has reportedly sold an additional $3.95 billion value of shares in his electric vehicle manufacturer Tesla. Musk reportedly sold 19.5 million more shares in Tesla, according to a number of sources and documents filed with the Securities and Exchange Commission that made … Read more
