The UAE came into being as an independent sovereign state on December 2, 1971. Dubai is one of the seven emirates comprising the UAE. The constitution established the Supreme Council of the Rulers of all the emirates as the main authority in the federation and a Council of Ministers as the executive branch of the federation. The ruler of each...
In 1937, decades before the UAE had been established, Dubai concluded its first oil concession deal with Petroleum Development Trucial Coast (PDTC), a British oil company. It was not until 1952 that the first drilling began, and not until 1966 that a commercially viable oil field was found.
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 established in specific tax decrees...
The local media sector has grown exponentially since the government set into motion a series of expansion initiatives in 2000. The emirate has emerged as a regional centre for the media industry over the past decade, competing with more established countries such as Egypt and Lebanon as the government actively seeks to diversify the economy into new...
With its high-income population and regional integration, Dubai offers a wealth of opportunities, and the emirate acknowledges that the current dependence on public financing for health care expenditures is unsustainable and inefficient. According to the World Health Organisation, health care-related expenditures in the UAE totalled over Dh40bn ($10...
Boasting almost 13m mobile telephone connections, 1.9m fixed telephone connections and nearly 1m internet users, according to the Telecommunications Regulatory Authority (TRA), the UAE has one of the biggest telecoms industries in the MENA region. The sector plays an important role in the country’s economy, contributing almost 5% of GDP and...
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