Around 2,600 new business licences were issued in Dubai in May, an increase of 50 per cent compared to the same period last year.
More than half of these were professional permits, 42 per cent were commercial and the rest were related to tourism and industries.
According to the Department of Economic Development (DED), the new companies helped create 8,348 jobs in the market.
Bangladeshis, Indians, Pakistanis and Egyptians were the top nationalities who secured the licences.
The bulk of the permits were for real estate & leasing activities, followed by trade & repair services, community & personal services, and building & construction.
In terms of the location, Bur Dubai (1,582) accounted for the largest share of the licences, followed by Deira (1,014) and Hatta (3).
US automaker Tesla has warned that it and other major American exporters are exposed to retaliatory tariffs that could be leveled in response to President Donald Trump's aggressive use of tariffs.
The Abu Dhabi Fund for Development (ADFD) has announced the launch of the “Sofitel Legend Pyramids Giza” project, a luxury five-star hotel intended to be a landmark addition to the hospitality and tourism sector in Egypt.
The value of transactions conducted in the banking sector within the country through the UAE Funds Transfer System (UAEFTS) rose to AED 19.898 trillion during 2024, according to the latest statistics from the Central Bank of the UAE (CBUAE).
Dubai Electricity and Water Authority (DEWA) announced a contribution of AED 20 million to the Fathers' Endowment campaign, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and the Ruler of Dubai.