Abu Dhabi — The UAE’s workforce has grown 10 per cent year-on-year in 2014 to 4.417 million, the strongest growth rate in 44 years, said the Ministry of Labour. “The ministry has issued approximately 1.212 million work permits over last year, which also witnessed the termination of work contracts for about 821,000 workers,” said HumaidContinue reading "UAE workforce expands 10% indicating strong growth rate" Read more
Industry Updates across the GCC
Dubai: Forecast of an across-the-board rent decline did not happen during the first three months of the year, as a number of tenants in Dubai continued to witness increases of as much as 5.74 per cent, a new report showed. Data compiled by real estate portal Bayut.com showed that the average rent for three-bedroom apartmentsContinue reading "Dubai rents increase in early 2015" Read more
On 1 April 2015, His Highness Sheikh Khalifa Bin Zayed Al Nahyan, President of the United Arab Emirates, enacted Federal Law No 2 of 2015 (the Commercial Companies Law, or Law). The Law brings to a close several years of speculation regarding anticipated changes to Federal Law No 8 of 1984 Regarding Commercial Companies, asContinue reading "New UAE Commercial Companies Law: A Move Towards Global Standards" Read more