Spurred on by the ambition of the Dubai Maritime Sector Strategy (MSS) to make the emirate a fully developed, multi-layered focal point for the global industry, a thoroughgoing re-examination of Dubai’s whole maritime infrastructure is under way. This includes not just developments in terms of “hardware” – the ports, yards and cranes visible...
While Dubai possesses some of the most state-of-the-art hardware in its transport sector, integrating these devices into a single, smart structure has a been a long-term occupation of sector planners. Encouraging innovation in the software element of transport has been a priority for the government for many years, with the Dubai Smart City...
Insurance penetration in Dubai is very low and the potential for growth is immense, making the sector competitive and highly oriented toward future expansion. However, the current operating environment is challenging, with companies competing on price to capture market share, scale up customer bases and boost profits.
Dubai’s economy is the result of a decades-long pursuit of diversification which has brought evolution into a variety of offerings, featuring services, finance, trade and global connectivity that has made the emirate a cross-continental meeting point for commerce. Dubai has felt the impact of the fall in crude prices since mid-2014, but it now...
After years of speculation, an agreement signed in February 2016 has brought clarity regarding the introduction of value-added tax (VAT) to Dubai. The UAE, along with states around the Gulf, will begin to implement VAT from January 1, 2018, and will thereafter have a full year to fully establish the new tax.
The highlight of recent years for the insurance sector has been the long-awaited arrival of new regulations that promise a broad overhaul of several key areas of the sector: auditing, the calculation of technical provisions, governance, asset valuation, increased policyholder rights, and solvency and provisioning regulations. Those elements...
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