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Dubai Gold Souk or Gold Souk (Arabic: سوق الذهب), is a traditional market (or souk) in Dubai, UAE. The souk is located in Dubai's commercial business district in Deira, in the locality of Al Ras. The souk consists of over 380 retailers, [1] most of whom are jewelry traders. Dubai Gold Souk entrance
Dubai suffered from a significant economic crisis in 2007–2010 and was bailed out by Abu Dhabi's oil wealth. Dubai's current prosperity has been attributed to Abu Dhabi's petrodollars. [39] In 2014, Dubai owed a total of $142 billion in debt. [40] The UAE government has worked towards reducing the economy's dependence on oil exports by 2030. [41]
Some financial free trade zones in Abu Dhabi and Dubai have their own legal and court systems based on English common law; local businesses in both emirates are allowed to opt-in to the jurisdiction of common law courts for business contracts. [4] [5] [6] The justice system in the UAE has been characterized as opaque.
In Dubai, the General Department of Human Rights at Dubai Police receives individual and collective complaints filed by workers against their employers. Complaints would be related to living conditions, wages, and security and safety of labour accommodations and this service is accessible online.
The Dubai Financial Market (DFM) (Arabic: سوق دبي المالي) is a stock exchange located in Dubai, United Arab Emirates. It was founded on 26 March 2000. It was founded on 26 March 2000. Overview
Dubai [a] is the most populous city in the United Arab Emirates and the capital of the Emirate of Dubai, the most populated of the country's seven emirates. [5] [6] [7] The city has a population of around 3.79 million (as of 2024), [8] more than 90% of which are expatriates.
Property prices in the Emirates had fallen 58% from their peak in the fourth quarter of 2008. [24] The world economic recovery from the Great Recession resulted in a rebound for the Dubai real estate market: it was reported that "residential prices [in Dubai] rose by 17.9% from August 2012 to 2013, while rents soared by 14.9% in the same period".
Sheikh Mohammed bin Rashid Al Maktoum (Arabic: محمد بن راشد آل مكتوم, romanized: Muḥammad bin Rāšid Āl Maktūm; born 15 July 1949) is an Emirati politician and royal who is the current ruler of Dubai, and serves as the vice president and prime minister of the UAE. [1]