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In 2012, the DMCC launched its own financial products, such as the Dubai Commodity Asset Management (DCAM), Dubai Shariah Asset Management (DSAM), DMCC Tradeflow, [9] and Dubai Gold & Commodities Exchange (DGCX). [10] In 2018, the DMCC launched the Middle East's first Google for Entrepreneurs Global Tech Hub with AstroLabs Dubai. [11]
The Dubai International Financial Centre (DIFC) is a special economic zone in Dubai covering 110 ha (272 acres), established in 2004 as a financial hub for companies operating throughout the Middle East, Africa, and South Asia (MEASA) markets.
The Exchange provides clearing service through the Dubai Commodities Clearing Corporation (DCCC), a 100% owned subsidiary of DGCX. [3] On 6 February 2024, the Joint Board of Appeal (“the Board”) of the European Supervisory Authorities (EBA, EIOPA and ESMA – the ESAs) withdrew the recognition of DCCC as a Tier 1 third-country central counterparty (CCP) over money laundering concerns.
The Maritime Center is the core of Dubai Maritime City. It consists of eight waterfront and three interior parcels, which will serve as an international hub for maritime businesses. Also under construction in the area is the 45-story 229 metres (751 ft) tall Landmark Tower, which will function as a 5-star business hotel upon completion. [9]
Investment Corporation of Dubai (Arabic: مؤسسة دبي للاستثمارات الحكومية, ICD) is the principal investment arm of the Government of Dubai [2] focused on strengthening Dubai’s economy through long-term value and wealth creation and investing in global opportunities. [3]
Tourism is a major economic source of income in Dubai and part of the Dubai government's strategy to maintain the flow of foreign cash into the emirates. [19] The tourism sector contributed in 2017 about $41 billion to the GDP, making up 4.6% of the GDP, and provided some 570,000 jobs, accounting for 4.8% of total employment. [20]
The Dubai Media City was established and built in 2000 [1] and inaugurated in January 2001 [2] by the government of Dubai to boost UAE's media foothold. Since then, it has become a regional hub for media organizations including news agencies, publishing, online media, advertising, production, and broadcast facilities.
Dubai [a] is the most populous city in the United Arab Emirates and the capital of the Emirate of Dubai, the most populous of the country's seven emirates. [5] [6] [7] As of 2024, the city has a population of around 3.79 million, [8] more than 90% of which are expatriates.