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Business Licences in Dubai See Rise of 61%

Dubai, UAE : 30 May

Dubai’s Department of Economic Development has seen a 61% increase in licences issued since April 2009.

The bulk of the 1,393 new licences, 1,060 in all, were given in the commercial sector, with ready-to-wear clothing businesses topping the list in this area.  The professional category of businesses saw 305 licences issued, with the restaurant trade leading the way.

The DED’s Director General, Sami Al Qamzi, said the number of new businesses were evidence of the ‘robust performance’ of the Dubai economy and of the successful approach of the Dubai government to encouraging ‘various business sectors’ to grow.

Sarah O'Connell, Staff Writer, Gulf Jobs Market
30 May

Minister Predicts Dubai Holding Will Not Need Bail-Out

Dubai investors were given the jitters at the end of last week when the investment arm of Dubai International Capital, Dubai Holding, asked for a delay in the payment of its first tranche of debt.
The request, for repayments to begin in September, instead of the agreed date of June, came only a few days after [...]

26 May

Free Trade Talks Suspended Between Gulf and Europe

Free trade negotiations between the European Union (EU) and the Gulf Co-operation Council (GCC) have been shelved as a result of disagreements which are proving hard to overcome.
The talks, between the GCC’s six member states and the EU’s twenty seven members, have been ongoing for the best part of the last twenty years, but a [...]

26 May

Dubai and US Discuss Furthering Trade

A meeting between the US Consulate in Dubai and the Dubai Economic Council (DEC) has taken place to discuss ways in which to increase trade between the two countries, particularly mechanisms to improve financial credit offered by the US to business partners in Dubai.
Shaikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Airports , President [...]

25 May

Gulf Single Currency Unlikely in Next Five Years

The launch of the GCC single currency, initially planned for 2010, is facing a further setback as Gulf governments witness the continuing crisis hitting Europe’s economic union.  
Secretary-General of the Gulf Cooperation Council (GCC), Abdulrahman al-Attiyah, stated today that he didn’t ‘foresee’ the currency being launched in 2015 because of ‘legislative and institutional’ requirements in GCC [...]

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