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Number of new business licences issued in Dubai climbs 19% in first quarter

There were 38,090 licence renewals, a 4 per cent increase on last year. There were also 17,397 trade name reservations, 13,914 initial approvals and 3,077 commercial permits issued. Business conditions in Dubai s non-oil economy have been picking up in recent months, with IHS Markit s Purchasing Managers Index for the emirate rising to 53.5 in April, from 51 in March. A reading above 50 indicates economic expansion and one below shows contraction. Dubai, the commercial and the tourism centre of the Middle East, has provided Dh7.1 billion ($1.93bn) worth of stimulus measures such as fee waivers and reductions since the onset of Covid-19 to soften the economic blow. It has also introduced remote work visas aimed at allowing people who can work from anywhere to operate from the emirate.

UAE s finance ministry and Dubai SME sign agreement to support small businesses

The SME sector in the UAE accounted for about 94 per cent of total companies and employed more than 86 per cent of the private sector workforce at the end of 2019, according to Ministry of Economy data. In Dubai, SMEs accounted for 95 per cent of companies, employed 42 per cent of the workforce and contributed 40 per cent of the emirate s gross domestic product. Supporting the SME sector is among the top priorities at both federal and emirate levels. Dubai has rolled out several initiatives last year to soften the impact of the pandemic on small businesses. The federal government has also ensured access to financing for smaller enterprises.

Dubai s F&B businesses deliver on the small wins this Ramadan - and keep costs down

Dubai: Dubai’s F&B businesses – from fine dining restaurants to food court stalls – have been able to generate some much-needed cash flow and save on expenses during the Ramadan period, with authorities waiving the need for special permits and screens. With these businesses having had to combat the COVID-19 fallout for 14 months now, operating at normal service during Ramadan is vital for survival. This was the first time that restaurants in Dubai were allowed to remain open during the day without a permit. With less than a week left of the fasting month, F&B operators look back at how the change in rules has affected their business.

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