Other Briefings
Saudi Arabia To Be World’s Fastest-Growing Major Economy in 2023
Saudi Arabia is poised to jump ahead of India as the fastest-growing major economy in 2023, as India’s growth takes a hit from weakening demand at home and abroad. India’s GDP will grow 7% in the 2023-24 fiscal year ending in March 2024, according to the first official estimate released by the National Statistics Ministry […]
UAE-Russia Non-Energy Bilateral Trade Up 57%
The non-oil trade between the United Arab Emirates (UAE) and Russia increased by 57% during the first nine months of 2022, according to the UAE Minister of State for Foreign Trade, Thani bin Ahmed Al-Zeyoudi. He stated on Wednesday (January 4) that non-oil foreign trade between Abu Dhabi and Moscow reached 20.2 billion dirhams (US$5.5 […]
Dubai Cancels 30% Alcohol Tax
The Dubai Emirate has ended a 30% tax on alcoholic drinks while making obligatory liquor licenses free to obtain. The initiative is apparently aimed at boosting tourism. However, a 5% VAT rate still applies.
Dubai And UAE Foreign Investors Must Prepare For New Tax Rules Effective June 1st
Foreign investors in the UAE must start preparations to be in compliance with the new tax reporting regime. The United Arab Emirates has announced Federal Law No. 47 of 2022 on the taxation of companies. Under the new regime, UAE registered businesses become subject to corporate tax in their first financial year that starts on […]
UAE’s Strong 2022 Economic Growth Highest For 11 Years
Opportunities for foreign investors to access new markets in a region promising higher than global average growth projections and market stability The UAE economy is projected to grow by 7.6% for 2022, the highest in 11 years, driven by both oil and non-oil sectors, according to the latest estimates by the UAE Central Bank. […]
UAE, India Discussing Mutual Rupee Trade Settlements
Bilateral trade is booming due to new trade agreements as US dollar loses out as preferred currency The US Dollar continues to lose popularity in international finance and trade, with the UAE and India being the latest countries to consider dumping the dollar and conducting bilateral trade in Indian Rupees. The reason for distrust of […]
UAE-Pakistan Bilateral Trade Up 23% With Additional Growth Potential On Track
The total trade between UAE and Pakistan was 19.7 billion dirhams (US$5.36 billion) in 2021, with a growth rate of 23% compared to 2020. Due to certain disruptions, the figures were not released until December 2022. The 2021 figures were announced by Abdullah Al Muwaiji, Chairman of the Board of Directors of Ajman Chamber of […]
Iran, Saudi Arabia Improving Trade & Diplomatic Ties
Hossein Amirabdollahian, Iran’s foreign minister said on Wednesday (December 21) that he held talks with Prince Faisal bin Farhan, his Saudi counterpart at a regional conference promoting peace in Iraq, held in Jordan.
UAE, Sudan To Build US$6 Billion Abu Amama Red Sea Port & SEZ
A consortium led by the UAE’s AD Ports Group and Invictus Investment of Dubai have signed a preliminary agreement with Sudan to build and operate the Abu Amama Port and Economic Zone on the Red Sea with a US$6 billion investment.
Abraham Accords Leading To UAE-Israeli Investments
US VC firms able to exit Israeli projects with Gulf investment capital The Abraham Accords – a combination of peace and trade directives aimed at encouraging greater links between Israel and the Gulf States, are starting to deliver concrete results. The UAE became the first Gulf state to normalize relations with Israel under a US-brokered […]
