Picture used for illustrative purpose. File
Gulf Today, Staff Reporter
Dubai has announced a new stimulus package worth Dhs315 million to help the economy cope with the effects of the coronavirus pandemic.
The package, its fifth, takes the total economic stimulus from the government of Dubai, part of the UAE, to Dhs7.1 billion since March last year, Dubai Crown Prince Sheikh Hamdan Bin Mohammed said on Twitter.
Sheikh Hamdan said, “Despite the challenges posed by the pandemic in the world, our economic situation is constantly improving, and we have the ingredients that enhance our ability to achieve leadership, and this was reflected in the rapid pace of recovery of various sectors and economic activities.”
Sheikh Hamdan also said, “The efforts of the Dubai government come in accordance with the directives of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, aimed at mitigating the effects of the global crisis, providing the necessary ingredients for business continuity, and accelerating the pace of recovery to preserve our economic gains."
In the tourism, entertainment, and events sector, the exemption from the fees charged for postponement and cancellation of recreational and sports events and activities, including conferences and exhibitions, has been extended.
The new package also extends the freeze on fees charged for ticket sales, issuing permits, and other government fees imposed on entertainment and business events.
A recent report by the Business Registration & Licensing (BRL) sector of Dubai Economy shows that the Naif locality in Dubai has over 12,478 active operating business licences. Of these, 86% of the licences are commercial (10,702), followed by professional (1,578), tourist and industrial licences.
The Business Registration and Licensing (BRL) sector in Dubai Economy has reported that 550 Instant Licences were issued during the first quarter (January to March) of 2020. Among the Instant Licences issued, 73 per cent were commercial and 27 per cent professional.
Under the theme “Emirati Women in Entrepreneurship”, the Dubai Business Women Council (DBWC) and the Department of Economic Development (DED), Dubai, organised a ceremony to celebrate
Data from Dubai Land Department (DLD) showed that the first working Friday witnessed 173 sales transactions worth Dhs2.38 billion, 12 of which were plots of land worth Dhs451.16 million and 161 were apartments and villas worth Dhs1.93 billion.
The Abu Dhabi Chamber of Commerce and Industry (ADCCI) has signed four agreements with leading national entities to support the growth and prosperity of the private sector in the Emirate of Abu Dhabi. This comes in line with the Chamber’s strategic objectives to empower the private sector and unlock economic
With COP28 slated to take place in Dubai next month where countries will come together to deliberate on energy efficiency improvements, discussions around sustainability and climate change are picking up pace. The UAE’s Net Zero by 2050 vision, though an ambitious one, can be achieved only if every industry rallies
Nasdaq Dubai continues to lead in creating an ecosystem that supports sustainable finance. The listing of FIVE Holdings Green Bond enhances Nasdaq Dubai's total value of ESG classified bonds and sukuk listings, reaching $26.7 billion, and contributes to a total value of debt listed on the exchange totalling $118.34 billion.