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Dubai's Parkin has reported a profit of Dh925 million, significantly boosted by an increase in fines. This financial performance highlights the impact of stricter enforcement measures on revenue generation in the region.
The UAE has implemented a Federal Corporate Tax, increasing the rate from 9% to 15% for businesses starting June 2023, aligning with global tax standards. Exemptions apply to certain sectors, and the structure includes a 0% rate for income up to AED 375,000, with provisions for loss carryforward and tax grouping.Abu Dhabi's startup ecosystem has seen a 28% growth, driven by Hub71, while Dubai's DIFC launched Launchpad to support new ventures. Additionally, innovative transportation and delivery methods are enhancing public services and customer experiences in the region.
In 2025, a significant shift among UAE employees prioritizes financial security, with 68% planning to save their bonuses amid rising living costs. While 60% still allocate funds for travel, 27% focus on skill-building, reflecting a balance between immediate desires and long-term goals. Despite increased financial advice-seeking, many regret not starting savings earlier, highlighting a gap in retirement preparedness, as 77% estimate needing up to AED 10 million for a comfortable retirement.
The Dh2 million property purchase remains the most favored option for obtaining UAE Golden Visas. This trend highlights the ongoing appeal of real estate investments in the region as a pathway to residency.
Egypt emerged as the leading investment destination in the Arab world in 2024, attracting nearly USD 30 billion across 122 projects, which accounts for about a third of the region's total foreign investment. The UAE was the largest investor with almost USD 12 billion, followed by the US at USD 10.3 billion. Most investments were concentrated in oil, gas, and renewable energy sectors.
Japan and the UAE conducted the second round of negotiations for an Economic Partnership Agreement in Dubai from February 24 to 26. The discussions, led by chief negotiators from both countries, focused on various topics including trade in goods and services, investment, and intellectual property. Both sides agreed to coordinate the dates for the third round of negotiations through diplomatic channels.
Hubpay has launched digital business accounts in the UAE, aiming to reduce account processing time from up to 3 months to just 24 hours. This initiative targets the over 557,000 SMEs in the region, facilitating their operational readiness and enhancing global trade with over 85 countries. The accounts cater to various business sizes, offering tailored solutions to support growth and productivity in the UAE's expanding economy.
The GCC real estate sector experienced a remarkable surge in 2024, with transactions exceeding $383 billion, marking a 25% annual increase. Dubai dominated the market, accounting for 54% of transactions, while Saudi Arabia followed with $75.7 billion. Population growth, particularly among expatriates, is driving demand, with urban populations expected to rise significantly by 2030.
GMR Airports has raised ₹1,100 crore through non-convertible debentures from Deutsche Bank. Dubai's financial landscape is thriving, with the Dubai International Financial Centre (DIFC) seeing a 25% increase in registered businesses, now hosting 75 hedge funds. The city is also a hub for family offices, managing $1.2 trillion in assets, driven by high-net-worth individuals seeking investment opportunities and favorable regulatory conditions.
Basata Holding has increased its stake in Jordan's MadfoatCom to 25%, enhancing its role in the region's digital payments landscape. This strategic investment, made in collaboration with Jordanian financial institutions, aims to improve financial inclusion and digital infrastructure, particularly for SMEs. The partnership is expected to drive innovation and expand access to financial services in Jordan.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Dubai's Parkin reports 925 million dirham profit driven by increased fines
04:13 28.02.2025
UAE implements new corporate tax structure amid growing startup ecosystem
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uae employees prioritize savings over spending amid rising living costs
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UAE Golden Visas driven by popularity of Dh2m property investments
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Egypt leads Arab world in foreign investment attracting nearly 30 billion dollars
01:00 27.02.2025
Japan and UAE hold second round of economic partnership negotiations in Dubai
16:47 26.02.2025
hubpay launches digital business accounts to expedite processing time to 24 hours
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gcc real estate transactions exceed 383 billion in 2024 driving growth
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