Expat Dubai News
Latest 10 news items tagged Dubai
24 May at 6 PM 2013
Executives are on the move across the world, forcing prices of luxury expat rental accommodation even higher in destinations such as Beijing, New York and the UAE.
The continued weakness of European economies is forcing companies to look to other continents for their ongoing business, with new sectors expanding into emerging markets. Shanghai’s burgeoning automobile industry, the accounting and legal sector in Hong Kong and the financial sectors in the UAE and other Middle Eastern hubs are attracting executive-level workers looking...
23 May at 6 PM 2013
In spite of governmental attempts to stir un nationalism in the UAE, a recent survey revealed that Emiratis are not frightened by the impact of expats on their country.
The survey, carried out by a student research team amongst other students at Zayed University, concluded that the presence of a majority of expats in the emirates has no effect on local citizens’ solidarity with the leadership. The results were presented at the third annual conference of the Dubai
Scientific and Cultural Society as part of a debate on the UAE through...
15 May at 6 PM 2013
Expatriate workers living in the United Arab Emirates send home just under a quarter of all overseas remittances made in the six nations of the Gulf Cooperation Council (GCC).
The amounts sent out of the country by its Asian and other overseas expat workers made the United Emirates a huge source of foreign currency for the labour-exporting countries. According to the Deputy Premier and minister of presidential affairs, Sheikh Mansour bin Zayed al Nahyan, the GCC with its one- third of the world’s oil wealth is home to over 15 million...
7 May at 6 PM 2013
Rumours that gold bars are being removed from gold shops’ shelves until the price recovers have sent expats rushing to purchase jewellery and gold coins whilst the price is still low.
Expats working in the gold-purchase hotspot of the United Arab Emirates are queuing to buy gold coins and jewellery after the commodity’s price suffered the largest and fastest fall in 70 years. Gold bars are now hard to come by, with rumours suggesting the stores are removing them from the shelves until their value goes up again.
The rush to buy...
26 Mar at 6 PM 2013
Expat workers leaving the emirate will now be able to clear unpaid loans and credit at the airport’s electronic cash register.
Dubai’s laws forbid international travel for those who have unpaid credit cards or loans, with many expats unable to leave for even short home visits unless they first clear all their debts. A number have been arrested for attempting to leave without complying, and others have been hauled before the courts to sort out their finances.
Although many expat workers are in favour of the new system, others...
8 Mar at 6 PM 2013
The seemingly unavoidable ‘Dubai
Stone’ – the amount of weight the average expat puts on during his or her first year in the emirate – has been seen as a rite of passage for newbies.
Obesity specialists, however, aren’t treating it as a joke – they’re warning of severe health effects. Most new arrivals believe the active outdoor life on offer as well as the hot weather will result in the pounds dropping off, but the opposite is mostly true.
Lavish brunches, executive drinking and lazy lifestyles can pile on excess...
18 Feb at 6 PM 2013
Following the UAE’s Federal National Council (FNC) decision last Wednesday to reject the new draft of its companies laws, lawyers are voicing their concern.
Members of the advisory body decided that the long-awaited change in law to allow expats to own a majority of a foreign company operating in the UAE should now be part of the new rules for investors. Discussions on changes to the investor rules are not due to take place until early autumn.
At present, foreigners in the emirate are not allowed to own more than 49 per cent of a...
13 Feb at 6 PM 2013
The number of expats buying property in the expat hubs of the Middle East is rising fast due to real estate ownership being considered a qualifying factor for long-term residency.
and Abu Dhabi property markets are seeing a return to the good old days, with revenue from property sales topping £1.7 billion in 2012. Dubai
is the largest market within the Gulf States, with British expat property purchases representing 21 per cent of total sales.
As well as guaranteeing a residence permit, investing in property is the smart...
7 Feb at 6 PM 2013
Expat staff in the UAE may well benefit from the first ever savings and pension plan specifically aimed at multinational and domestic employers of overseas workers.
The National Bank of Abu Dhabi (NBAD) has launched its innovative Wealth Builder Plan, aimed at UAE corporate employers who wish to offer their expatriate workers enhanced savings and pension options. DBAD Trust Company, a wholly owned subsidiary of the bank operating out of Jersey, is nominated as the trustee for the scheme.
The plan will be administered by RBC...
30 Jan at 6 PM 2013
In a bid to boost its flagging economic performance, Dubai
is planning to offer new lures to foreign investors.
Major changes to the requirements and red tape at present in place for those who wish to start a business in Dubai
are part of a push by the government to attract foreign money into the country. Potential investors will no longer have to partner with a Dubai
national, but will be able to start a business with any national of the Gulf Co-operative Region (GCR).
Another advantage of the new blueprint is that investors from...