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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. [40] In 2014, Dubai owed a total of $142 billion in debt. [41] The UAE government has worked towards reducing the economy's dependence on oil exports by 2030. [42]
Dubai has the UAE's largest community of South Koreans. [102] However, a consulate was not opened in Dubai until March 2008. [103] Roughly 1,300 North Korean workers live in the UAE, primarily in Dubai and Abu Dhabi. They earn between US$300 and $500 per month, but must make so-called "loyalty payments" of $150 to $250 to the North Korean ...
The Dubai International Financial Centre has three hotels, the Ritz-Carlton, the Waldorf Astoria, Four Seasons. [citation needed] It is also home to several art galleries, [20] [21] and over 100 cafes and restaurants. [22] [23] There is a variety of retail shops and convenience stores, along with business services outlets. [24]
Emirates Institute for Finance (EIF; معهد الإمارات للدراسات المصرفية والمالية) is an educational institute that was established in 1983 in Sharjah in the United Arab Emirates. The Institute has three campuses, at Sharjah, Abu Dhabi, and Dubai. The Institute is currently offering a Bachelor of Science in ...
Careem is a Dubai-based super app with operations in over 70 cities, covering 10 countries across the Middle East, Africa, and South Asia regions. [2] The company, which was valued at over US$2 billion in 2018, [3] became a wholly-owned subsidiary of Uber after being acquired for $3.1 billion in January 2020. [4]
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t. e. The visa policy of the United Arab Emirates allows citizens of certain countries to enter the United Arab Emirates without a visa. Citizens of certain other countries must obtain a visa from one of the UAE diplomatic missions. Alternatively, they may obtain an online visa through Smart Service or airlines.
DAFZ was established in 1996. It came into being as a part of the Dubai government's strategic plan to make Dubai an investment-driven economy. Today, it is one of the fastest-growing and pioneering free zones in the region, contributing to around 4.7 percent of Dubai's gross domestic product) It allows international investors a completely duty-free business setup and execution of services ...