Dubai is home to the region’s principal financial free zone, the Dubai International Financial Centre (DIFC). The zone hosted 1648 registered companies in 2016, including 447 financial services firms. The zone also hosts the Nasdaq Dubai stock exchange, which lists the largest amount of sukuk (Islamic bonds) in the world, with a...
The number of sovereign wealth funds (SWFs) operating in the GCC has grown in the last decade. The value of these SWFs – created to invest and manage the huge sums flowing into the region from hydrocarbons sales – stood at $2.9trn in March 2017, according to the Sovereign Wealth Fund Institute (SWFI), representing 38.5% of the global total....
Dubai’s economy is among the most diversified in the region, thanks to factors such as a highly attractive business environment that has brought in large amounts of foreign investment. Despite producing little oil, growth has been affected in recent years by the knock-on effects of the fall in international oil prices and a consequent slowdown...
Despite persistently low international commodities prices, Dubai saw a steady GDP growth of 3.2% in 2017 and is expected to reach 3.5% in 2018, with an increased drive towards consolidating its position as a knowledge-based economy. The issuance of the Dubai Open Data Law and the creation of Smart Dubai are among the flagship initiatives...
The UAE is a major international centre in the global Islamic economy, and Dubai is key for Islamic finance in particular, hosting the stock exchange with the largest listing of sukuk (Islamic bonds) by value, as well as one of the world’s largest Islamic banks. The emirate has been seeking to further expand its sharia-compliant economy...
While government-related entities (GREs) play an important role in the economy, Dubai has one of the most dynamic private sectors in the Gulf. A diversified activity base and attractive business environment have drawn in high levels of foreign direct investment. Private firms are particularly dominant in the small and medium-sized enterprise (...
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