The federal government of the UAE has not promulgated any tax laws. Most of the individual emirates have issued corporate tax decrees, but, in practice, taxes are only imposed on oil- and gas-producing companies at rates set forth in their government concession agreements, and on branches of foreign banks at rates set out in specific tax decrees...
Added to the goals of hosting the world’s busiest airport and potentially the world’s biggest airline at some point, Dubai chalked up another record with its 13th air show in November 2013. Emphasising the growing dominance of Middle East airlines in global aviation, the big three aircraft manufacturers – Boeing, Airbus and Bombardier – came to...
The energy going into providing facilities for tens of millions of foreign visitors is relentless. On the agenda for the next few years are around 16,000 new hotel rooms, running from the height of luxury to several budget accommodations, and half a dozen or more theme parks. Dubai has set itself the target of reaching 20m visitors per year by...
The enthusiasm for building new hotels in Dubai precedes by at least a year the announcement in late November 2013 that the emirate had won the right to stage World Expo 2020. An increase in foreign visitors had already created demand for more rooms in both hotels and hotel apartments. Christopher Hewett, senior consultant at TRI Hospitality...
The world’s longest, fully automated driverless railway system is about to get a lot longer. Although extensions and new lines have been part of the plan for some time, winning the 2020 World Expo bid has fast-tracked some of the expansion, especially in the Jebel Ali area. Work will begin in 2014 on an extension from the existing Red Line along...
In September 2013, the UAE’s federal insurance regulator called for consolidation in the industry, a move that was welcomed by the growing chorus of players that have warned that the market was becoming saturated over the past five years. Although the Insurance Authority (IA) placed a moratorium on new licences for insurers and brokers in 2009...
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