The Department of Culture and Tourism in Abu Dhabi has allowed certain hospitality sectors to open during Ramadan without having the need of installing curtains when serving food.
Sharjah has also taken some proactive changes for non-Muslims who are not fasting during the month of Ramadan.
For the full article click here
Etihad Airways has landed its first commercial flight in Tel Aviv, Israel after they launched an inaugural flight on Tuesday morning. The flight left Abu Dhabi and is scheduled to continue a service twice a week.
This will continue to increase trade and investment opportunities between the UAE and Israel since the signing of the Abraham Accord last summer.
For the full article click here
The UAE has commenced a new development to enhance sustainability of its power sector. The commercial operations are located within Barakah Nuclear Energy Plant, which is overseen by Emirates Nuclear Energy Corporation (ENEC) while the operator is Nawah Energy Company (Nawah).
This is a massive milestone for the UAE, as they are the first country in the Arab world to operate a nuclear energy plant.
For the full article click here
Dubai’s strategy to create up to 150,000 new jobs for those who are qualified and trained in the creative field will span over the course of a 5 Year plan. It will fall under the Dubai Creative Economy and Dubai Design District (D3) which will be focused on bringing in innovators, investors and entrepreneurs.
This initiative was launched by Dubai’s ruler Sheikh Mohammed bin Rashid Al Maktoum which has be praised a ‘talent magnet’.
For the full article click here
In the UAE, digital payment transactions have doubled with over $18.5 billion online payments in 2020.
Stripe, which is a payment solution is expanding to the UAE to support businesses locally, and overseas by connecting them using their platform.
An increase demand for online payments and transactions, primarily owed to the growth of online commerce, it is forecasted to grow further with an expected $10 billion over the next 2 Years.
Stripe plans to remove the challenges which many businesses face when to making or accepting payments and managing the financial side of their business.
For the full article click here
The UAE Central Bank has projected a 2.5% growth in the economy this year which would result in a full recovery from the pandemic by 2022. This would result in a positive rise of 3.5% in GDP over this period.
The construction industry was at the forefront of the rise, with UAE construction activity low during the height of the pandemic, construction activity has picked up significantly again - driving new projects and finish off where they left off prior to the pandemic slowdown.
For the full article click here
Dubai has approved an $8.2bn plan to support existing companies and to help boost start-ups, termed ‘Operation 300bn’ (AED) in association with Emirates Development Bank (EDB).
The initiative was launched as part of Dubai’s 10-Year Strategy to double the amount of the industrial sectors contribution to UAE’s GDP. The objective is to further increase UAE economic activity and create a world class hub for industry by 2031.
For the full article click here
This results are in large part due to the commitment of the UAE Government to focus on lowering the barriers to entry for new and existing businesses, investing into new infrastructure, economic diversity, and innovation.
With a vigorous roll out of the vaccine, the UAE expect to vaccinate the whole UAE population by 2021, which will further drive more inward investment and increase economic activity in the country.
For the full article click here
As part DFSA proposal’s, they have rolled out a 30 day public consultation by publishing a framework which outlines the use of security tokens. DFSA is actively engaged with key stakeholders in Dubai and around the world on the future of finance and the rapidly growing area of financial technology, including various Distributed Ledger Technology (DLT) applications.
For the full article click here
PRO PARTNER GROUP provides a complete range of LLC formation solutions to help.