Dubai issues 14,360 business licences in 2011

Robust licensing activity reflects stability and growth across key economic sectors in the emirate

Key economic sectors and economic activity in Dubai remained stable and growing in 2011, with the Department of Economic Development (DED) issuing 14,360 business licenses during the year. The professional services sector, at seven per cent, accounted for the most number of licenses in 2011 followed by the tourism sector at five per cent. Read more

GCC branches granted equality to local companies

The UAE cabinet today gave its nod for GCC companies to open branches in the UAE and achieve full equality between their branches and those of national counterparts.

The move is in implementation of the GCC Supreme Council relevant resolution, which aimed at bolstering economic integration among GCC member states and consolidating the UAE status as the most GCC member state complying with the GCC apex body resolutions.

Davos: U.A.E. to grow 4 percent in 2012, Al Mansouri

United Arab Emirates Economy Minister Sultan Al Mansouri talks about the outlook for the country’s economy. He speaks with Bloomberg’s Alaa Shahine on the sidelines of the World Economic Forum’s annual meeting in Davos, Switzerland. (Source: Bloomberg)

Dubai business upbeat on sales and profits in Q1 of 2012

• Quarterly business survey reveals high level of optimism across key business sectors, driven in part by Dubai Shopping Festival 2012

Rising confidence on sales and profits is reported in most economic activities in Dubai for the first quarter 2012, according to the quarterly business confidence survey conducted by the Department of Economic Development (DED). Read more

Salary Increase: MoF implementing decisions of UAE President

• Ministry completes salary increase for 90666 individuals consisting of federal government employees, recipients of social aid and retirees

The Ministry of Finance recently announced that it is working on actively implementing the decision issued by UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan on the occasion of the UAE’s 40th National Day regarding salary increase of employees in the federal government sector and increasing social aid and wages granted to retirees, according to a statement issued by HE Younis Haji Al Khouri, Undersecretary of (MoF). The decision specifies that as of January 2012, minimum wages for retires in Abu Dhabi, Dubai and the Northern emirates are to be raised to AED 10,000, and salary increase is to be applied to 37950 employees working within the federal sector. Read more

DED forms two committees for grievances on licensing & permits and commercial compliance & inspection

• Initiative is part of the Department’s commitment to promoting transparency

The Department of Economic Development (DED) in Dubai has formed two committees to redress grievances relating to licensing and permits procedures; and commercial compliance and inspection. Based on Law No: (13) of 2011 regulating economic activity and Article No: (34) relating to redressing grievances on the decisions taken by the Department, the two committees are part of DED’s keenness to uphold transparency. Read more

Consumer confidence rising further during last quarter of 2011

• Personal finance looks strong with 79% consumers having a positive outlook; majority optimistic on improvement in job prospects

The overall consumer confidence index in Dubai increased 15 points to 125 over the last quarter of 2011 compared to the third quarter, according to the quarterly Consumer Confidence Index (CCI) of the Department of Economic Development (DED). Read more

Penalties on businesses in Dubai reduced

His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai , with his capacity issued a  decree to reduce penalties on businesses in Dubai. Read more

Latest UAE economy highlights

The Dubai Shopping Festival in 2011 contributed AED 15.5bn, with AED 5.9bn spent by regional and international visitors, according to a report released by the Dubai Events and Promotions Establishment. A total of 884,660 regional and international visitors came to Dubai during the DSF period, with India, UK and Saudi Arabia residents accounting for 11%, 8% and 8% respectively. Read more

Dubai SME seminar highlights the need to differentiate for business success

Dubai SME, an agency of the Department of Economic Development in Dubai mandated to develop the small and medium enterprises (SME) sector, recently hosted a seminar on enterprise value creation, intelligent marketing and competitive customer service for entrepreneurs and start-up businesses. Read more

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