New Licences issued from Dubai’s DED in 2020 An astonishing number of 42,640 licenses have been issued in 2020. This is a decent growth of 4% from last year, during which 40,891 licenses were issued. Out of these 42,640 newly registered licenses, nearly 64% were professional licenses and 35% were commercial. The remaining were within[...]

MENA-Based Startups An astonishing amount of $1.031 Billion has gone into the MENA-based startups in the year 2020 alone. A 13% increase in the cash put into the startup has been observed. Surprisingly, the total count of the region decreased by 13% despite reaching a new high of $1 billion and marking a new height.[...]

2020 For Retailers Some of the boutique owners have revealed their situation regarding the pandemic and their freshly opened businesses. They say that their businesses were going well till the first lockdown was imposed. After that, they had to turn to social media platforms and digital means to conduct their business. For retailers, the lockdown[...]

Forecasting to Be one of the Most Difficult Tasks After COVID-19 Keeping cyber threats at bay is also going to be a huge issue. Making informed decisions has become a major challenge ever since the pandemic took over the world. A large majority of businesses believe that doing so was going to be the biggest[...]

DMCC Gets 2,025 New Companies During 2020 Thanks to its Incentives DMCC’s incentives and offers were adopted by eight thousand companies already part of the DMCC. Dubai’s DMCC free zone has confirmed that it took around 2,025 new companies during 2020. This was a record breaking high for the free zone in the past 5[...]

Rolling Cashflow Tracker swoops in to save the day Currently, cashflow is really hard to manage for a lot of start-ups out there. Things are going to remain this way for some time in the future. And small ventures aren’t the only ones suffering from cashflow problems, larger businesses are worried about their working capital[...]

New Law for unfinished and cancelled projects issued in Dubai A new commandment in Dubai has been released that deals with cancelled and unfinished plans. The Dubai Legal Council’s chairman will assign the new members and chairman of the Tribunal that will then settle and review the grievances, complaints and disputes that the prior team[...]

Plans of LCE Audit Reform moves a step closer The plans for establishing a simple auditing standard has taken a step onward since IAASB (International Auditing and Assurance Standards Board) has approved the proposal unanimously. They have also decided to publish the rough plan of the new guidelines in next year’s June. The plan was[...]

Last day for Businesses in UAE to comply and file notification for the ‘Economic Substance Regulations’ By 31st December 2020, which is today, all businesses in the UAE must comply with the ESR. The MoF, Ministry of Finance has put in immense effort to release the guidance notes, statutory documents and collection of notices to[...]