The Central Bank of the UAE enhanced its financial oversight in 2023, conducting examinations across 181 institutions and imposing fines of AED 113.675 million for non-compliance with AML and CFT regulations.

Dubai has experienced its fastest hiring rate in over eight years, driven by a significant increase in consumer demand and new orders in sectors like retail, construction, and tourism.

Dubai’s rental market has seen a remarkable recovery, with a 43.5% increase in tenancy contracts and a 22.0% rise in average rents, indicating strong growth and sector vitality.

The UAE is set to exit the FATF’s “grey list” after addressing deficiencies in its AML, CTF, and anti-proliferation financing frameworks, promising smoother international transactions for MNCs.

The inauguration of the German WIKA group’s factory in Dammam signifies a milestone for German business expansion and innovation in the Middle East, fostering economic and cultural ties between Germany and the region.

The UAE’s economy is poised for a 5% growth in 2024, driven by a surge in FDI and a robust expansion in the non-oil sector, highlighting the country’s successful diversification strategy.

The Federal Tax Authority’s Decision No. 3 of 2024 introduces specific registration timelines for taxable persons under UAE Corporate Tax, effective from 01.03.2024, with penalties for non-compliance.

Real estate maintenance responsibilities in Dubai primarily fall on the landlord for major repairs, while tenants are tasked with minor issues, guided by Law No. 26 of 2007.