GCC residents can now apply for their entry visas to the UAE through an online portal called ‘Fawri’, the Ministry of Interior announced on Saturday. The Fawri service aims to expedite passenger movement across the UAE’s entry points and streamline the visa process for passengers before they arrive in the country. The service, which is […]
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According to the ranking of Emporis, the German real estate data mining company. The top five skylines in the world are Hong Kong, New York City, Singapore, Moscow and Seoul. Notably, Dubai came in sixth despite being significantly smaller and having fewer buildings than any other city in the top 10. Also, unlike the other
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Strict action will be taken against any form of expressions of hatred or incitement to hate crimes spread in the form of speech and published media. The United Arab Emirates has issued a new law against any form of discrimination on the basis of religion, caste, creed, doctrine, race, colour or ethnic origin following a
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The ambitious target set by Dubai to boost the share of renewable energy mix to seven per cent by 2020 is getting closer to reality with the state utility announcing the financial close for the second phase of the Mohammed Bin Rashid Al Maktoum Solar Park. The Dh30 billion Solar Park, one of the largest
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International credit ratings agency Capital Intelligence, or CI, has affirmed the UAE’s long-term foreign and local currency sovereign ratings of AA- and its short-foreign and local currency sovereign ratings of A1+ after taking into account key economic and financial indicators. The outlook for the rating is stable, meaning it is likely to remain unchanged over
CI Affirms UAE Ratings: Outlook Stable Read More »
The long-awaited law on financial regulation and bankruptcy, which is widely hoped to have a far-reaching positive impact on the UAE’s business environment, is getting closer to reality with the Cabinet approving a draft proposal. The draft of the landmark legislation that seeks to decriminalize bounced cheques and help bail out businesses facing financial troubles
UAE Cabinet Okays Draft Law on Bankruptcy Read More »
The UAE and Saudi Arabia are among the world’s top 10 countries forecast to experience the fastest M&A (merger and acquisition) and IPO growth until 2020, reveals a new forecast by global law firm Baker & McKenzie. “Strong M&A activity in the UAE in the first half of 2015 is expected to result in a
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After a period of significant growth in Dubai property prices across the board from 2013 to mid-2014, there has been a softening in demand in the past 6 to 9 months. The rift between sellers and buyers’ expectations widened in the last quarter of 2014. During recent months, it has been observed that the compromise
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Greek Prime Minister Alexis Tsipras is expected to present new proposals at a Eurozone emergency summit on his country’s growing debt crisis. The plan is to include a demand for the debt to be cut by up to 30%, after voters rejected the terms of an international bailout. While Greece’s banks are to still stay
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Hungary’s parliament has passed new legislation tightening asylum rules and backed plans to erect a border fence to keep out migrants. The new law which was passed easily, allows the detention of migrants in temporary camps, speeding up of the asylum application review process and limiting the possibility for appeal. In practice this means that
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