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DIFC Posts 14% Growth in 2013

DIFC Posts 14% Growth in 2013

March 5, 2014 2:18 pm

DIFC (Dubai International Financial Center), a financial free zone, released a report on February 02, 2014 that it had 1,039 active registered companies as 31st December 2013, a 14% increase from the previous year. According to the report, 55 active financial services and 103 non-financial services firms registered last year, amounting to 327 and 565 […]

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Dubai to Tax Tourists to Finance Expo 2020

Dubai to Tax Tourists to Finance Expo 2020

March 5, 2014 2:18 pm

Helal Saeed Al Marri the director general of Dubai Tourism and Commerce Marketing (DTCM) recently announced that Dubai is set to introduce a tax on tourist accommodation so as to raise funds for the World Expo 2020 projects. The tax referred to as the Tourism Dirham, will come into effect on 31st March 2014 and […]

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European Parliament Urged To Ban ‘Anonymous Shell Companies’

European Parliament Urged To Ban ‘Anonymous Shell Companies’

March 5, 2014 2:18 pm

A Washington DC based research and advocacy organization has urged the European Parliament to support the establishment of public registries of corporate ownership. Global Financial Integrity (GFI) studies and promotes policies that are designed to stop illegal financial flows. Its latest research project showed that in 2011, USD68.9bn flowed illegally into and out of developing […]

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Financial Sector Contributes 12% To The GDP Of Dubai In 2012

Financial Sector Contributes 12% To The GDP Of Dubai In 2012

March 5, 2014 2:17 pm

Number of active registered companies within DIFC has increased to 1,039 in the last year. Dubai: Eisa Kazim , Governor of the DIFC and Chairman of DIFC Authority said that the financial services sector made a contribution of more than 12% to Dubai’s gross domestic product (GDP) in 2013. Kazim while speaking at DIFC’s operating […]

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