The past 15 years have seen major advances in capital markets activity in Dubai. The financial sector free zone, the Dubai International Financial Centre (DIFC), has gone from idea to reality, and the emirate recently became the world’s largest market for sukuk (Islamic bonds). However, development has been uneven across types of...
Dubai’s position as a centre of trade is likely to pay off again in the next few years as the deal between Iran and Western powers results in the reintegration of the country into the global economy. Located just across the Gulf, Dubai is already a conduit for goods in and out of Iran. The question now in the emirate is what opportunities will...
The banking sector is a pillar of Dubai’s economy, having provided the basis for the development in the past decade. The banks serve as conduits that link Dubai to the regional and global economies, and their publicly traded shares are one of two main drivers of the local stock market along with real estate stocks. For now, the banking sector...
Level 112 of the Burj Khalifa offered a birds-eye view of Dubai to participants at the Dubai Plan 2021 Creative Labs event in March 2016. The symposium was a follow-up on the original cycle held in 2014, which formulated an ambitious strategy by which the emirate intends to build on the foundations it has already established. The 2016...
With crude oil prices low and seen as unlikely to return to levels above $100 in the next few years, the matter of taxes has been pushed to the forefront of debate in Dubai. The establishment of some form of general taxation has been one of the longest-running political issues in the emirate, the UAE and the wider region. With public revenues...
Since Saudi Arabia began reducing its domestic wheat production in 2008, the issue of food security has been high on the agenda for governments in the GCC region. The kingdom, which was once self-sufficient in the grain and even exported to the wider region, recognised a fact that is true across the whole of the Arabian Peninsula: it is...
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