Using a combination of central location and advanced infrastructure to attract trade operators from around the world, Dubai has successfully carried on its legacy as an shipping point between East and West. After the discovery of oil in 1966, the emirate benefitted from increased revenues, which authorities used to invest in upgrades to the...
A business-friendly environment and prime location have helped Dubai maintain a long-standing reputation a centre for trade. Building on a historical model that gave tax breaks to pearl traders, the emirate has attracted foreign investment by developing free zones that appeal to investors and businesses alike. Dubai’s free zones generally offer a...
If all goes according to the transport authorities’ plan, by 2030 30% of trips taken in the emirate will be handled by public transit – more than triple the 9.5% for recorded in mid-2011. Owned and operated by the Roads and Transport Authority (RTA), Dubai’s public transit system includes local buses, inter-city buses, marine transport and a two-...
Since the global financial crisis struck Dubai in 2008/09, successive waves of new regulation have been brought in for banking and the financial sector in general. These have been both local and global, as Dubai and the UAE have sought to meet new international best practices and requirements while taking account of their own unique characteristics...
The high levels of reinsurance activity in the Dubai market follow a regional pattern which saw GCC insurers cede an aggregate 46% of their non-life premium income in 2011, according to the Qatar Financial Centre’s (QFC) “GCC Reinsurance Barometer”. While some of this business is directed towards local firms, the majority is placed with foreign...
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