Other Briefings
Dubai Free Trade Zone Reports 24% Increase In Chinese Investors
The Dubai Multi Commodities Center (DMCC) has announced a 24% year-to-date increase in the number of Chinese companies setting up in its free trade zone. The DMCC has signed a memorandum of understanding with the Lin-gang Special Area of China (Shanghai) Pilot Free Trade Zone (LGSAC), and allows Shanghai and Dubai to streamline requirements and […]
Dubai Q1 GDP Growth Beats Global Averages: Results By Industry Sectors
Dubai’s Real Gross Domestic Product (GDP) grew 2.8% year-on-year in the first quarter of the year to reach Dhs111.3 billion (US$30.3 billion) surpassing the average global growth rates for Q1 2023. The surge maintains the robust momentum of growth achieved in 2022, when the emirate experienced a 4.4% expansion of the economy.
Obtaining 0% Tax Liability In UAE Processing and Distribution
The UAE’s corporate tax public consultation for free zones (PCD) has provided several insights and the possible direction of the tax regime these hubs would come under. However, the interpretation of the new tax rules among the government and professional finance and tax community still has gaps in the common understanding. Two impacted areas are […]
Saudi Arabia-Central Asia Multilateral Trade, Status, and 2023/24 Prospects
New agreements and geopolitics introduce revived silk roads between the Middle East and Central Asia By Farzad Ramezani Bonesh Introduction After the collapse of the Soviet Union in the early 1990s, the recognition of the independence of Central Asian countries (Kazakhstan, Turkmenistan, Uzbekistan, Kyrgyzstan, and Tajikistan), the establishment of diplomatic relations, and the opening of […]
Turikye’s Ecommerce Sector Grew 100% In 2022
Significant opportunities in EU’s gateway to the Middle East Türkiye’s buoyant e-commerce sector registered a growth of more than 100% in 2022, hitting a volume of a staggering TL 800 billion (around US$29.8 billion), according to an industry report prepared by iyzico, ETİD and Dogma Alares. It showed e-commerce transactions soared to nearly 4.8 billion […]
Dubai Chamber Establishes Joint Serbian Business Council
Bilateral Serbia-Dubai Trade Up 42% In 12 Months The Dubai Chamber of Commerce, increasingly active in Eastern Europe, has opened a second Business Council following last week’s announcement it had established one in Romania.
Significant Growth In Turkiye – UAE Growth Anticipated: UAE Ambassador
Bilateral CEPA comes into effect September 1st and will boost trade and manufacturing. The upcoming five years will see substantial growth in trade and new projects between the United Arab Emirates (UAE) and Türkiye, UAE Ambassador to Ankara Saeed Thani Hareb Al Dhaheri has said on Wednesday (August 2).
Foreign Investors In the UAE: Non-Compliance Tax Rules – Compliance and Non-Compliance Penalties
With the UAE Ministry of Finance setting the penalty structure for non-compliance on corporate tax, all UAE businesses, including foreign investors, have a nine-month window to make sure that all their submissions are in order.
Bilateral Trade Between Pakistan and Saudi Arabia, Status and Prospects
An expanded CPEC could fast track Saudi-Pakistan development By Farzad Ramezani Bonesh Introduction The relations between Saudi Arabia and Pakistan go back to the 1940s and before the independence of Pakistan. Pakistan has had close relations with Saudi Arabia since its independence in 1947. Relationships are rooted in religious, cultural, and commercial links and common […]
Starting A Business In The UAE? Points To Consider
The UAE and Middle Eastern are booming and attracting huge volumes of new businesses wanting to set up in the region. However, this has coincided this year with significant changes in the UAE corporate tax regime, which came into effect from June 1st this year. This is a landmark move that has marked a departure […]
