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Latest News & Developments
UAE BUSINESSES PLAN 4% PAY RISE FOR STAFF IN 2022
Employers in the UAE plan to give their staff an average annual pay rise of four per cent in 2022, amidst signs of strength in the labour market following the turmoil of the global pandemic, according to research by Willis Towers Watson. (Source : Khaleej Times)
DUBAI MERGING TWO ARBITRATION CENTRES INTO DIAC
Emirates Maritime Arbitration Centre and the Dubai International Financial Centre Arbitration Institute are merged into the Dubai International Arbitration Centre (DIAC), an autonomous non-profit institution that provides world-class arbitration services. (Source : Gulf News)
INSIGHT INTO STUNNING OPENING CEREMONY FOR EXPO 2020
Expo 2020 Dubai will open with a spectacular ceremony featuring hundreds of performers in a show to be broadcast live around the world. The 90-minute performance on Thursday, September 30, will set the scene for the six-month world fair. (Source : The National)
UAE INVESTING MAJORLY IN DEVELOPING A HYDROGEN ECONOMY
The UAE plans to invest $163.48bln until 2050 in clean energy, when it aims to have 44% of clean energy as part of its energy mix dependence. In this context, the country is looking at alternate energies like solar power and hydrogen. (Source : Zawya.com)
DUBAI GOVERNMENT'S INITIATIVES YIELDING RESULTS
Dubai on Saturday proved its economic resilience by recording strong growth in new licences in August. In a statement, Dubai Economy said it issued 5,885 new licenses last month compared to 2,829 in the same period last year, reflecting a y-o-y growth of 54%. (Source : Khaleej Times)
DUBAI ISSUES LAW INTEGRATING ALL ECONOMIC ZONES UNDER ONE AUTHORITY
The Dubai Airport Free Zone, Dubai Silicon Oasis and Dubai Commerce City will be supervised by the newly-created Dubai Integrated Economic Zones Authority, starting on January 1, 2022, the Dubai Media Office said in a statement on Monday. (Source : The National)
UAE ALLOWS PROPERTY BROKERAGES TO BE OWNED 100% BY FOREIGN NATIONALS
UAE government has made a major policy change aimed at increasing the appeal of real estate within United Arab Emirates to international investors. 100% ownership of property brokerages by foreign nationals expected to increase international investments in the real estate sector. (Source : Gulf News)