UAE announces new corporate tax rule for partnerships

UAE issued a Cabinet Decision introducing a new tax treatment option for unincorporated partnerships. In a bid to accelerate tax transparency and enhance the business ecosystem - under the Federal Decree-Law No. (47) of 2022 on the Taxation of Corporations and Businesses, unincorporated partnerships are generally regarded as tax transparent entities. This means that the partnership itself is not subject to corporate tax, but the partners are taxed individually on their respective shares of the partnership’s income.

 

GCC retail sector to pass USD 390bn by 2028

As per industry reports the GCC retail sector is expanding rapidly and estimated to pass USD 390 bn by 2028. Evolving consumer expectations across the GCC along with digitally fluent shoppers has transformed the retail space to an ecosystem where physical & digital both thrive.  It is estimated 87% consumers leverage both online and offline channels to make purchases. 

 

UAE delegation participated in the 15th BRICS Trade Ministers Meeting in Brazil

A top-level delegation from the UAE attended the 15th BRICS Trade Ministers Meeting in Brazil focused on strengthening partnerships, seeking new opportunities for increased trade and collaboration among BRICS nations. The meeting served as an opportune time to highlight non-oil bilateral trade between the UAE and Brazil reaching USD5.4 billion in 2024. 

 

UAE’s tech economy at the centre of global spotlight at Berlin Summit

With UAE’s digital sector set to hit USD 3.76 billion in 2025, the country’s fast growing tech economy was in the spotlight in Berlin. UAE highlighted its role as a global player in AI, public sector innovation, and startup-driven solutions at GITEX Europe amidst exhibitors from 100+ countries. 

 

UAE highlights its position at the forefront of manufacturing and AI innovations 

Make it in the Emirates 2025 concluded on a high note with UAE highlighting ground breaking announcements, strategic partnerships, and innovation -focused initiatives that served as a foundation for building a global AI ecosystem. Partnerships fostered at Make it in the Emirates 2025 reflect the continued industrial diversification across UAE. 

 

UAE’s MoIAT secured over AED 40 billion in financing to bolster the country’s industrial sector

Signing 5 major agreements with leading national banks, UAE’s Ministry of Industry and Advanced Technology secured over AED 40 billion in financing to strengthen the country’s industrial sector. The agreements are focused on providing competitive financing for industrial companies, particularly SMEs and to support investment in advanced technologies across the UAE. 

 

UAE ranks highest in Middle East Tourism Growth with record visitor spending and job creation forecasts through 2035

As per research from the World Travel & Tourism Council (WTTC), international visitor expenditure in the UAE is projected to reach an extraordinary AED 228.5 billion in 2025 – marking almost 37% surge over the previous peak recorded in 2019. Further the tourism sector is forecast to contribute an outstanding AED 267.5 billion to the nation’s gross domestic product (GDP) in 2025, accounting for nearly 13% of the total economic output and support more than 925,000 jobs by the end of 2025. 

 

UAE and Cambodia explore new avenues of bilateral cooperation in industry, science, technology & innovation

Building on the momentum of the Cambodia-UAE Free Trade Agreement signed in 2023, key officials from both countries met to explore avenues of bilateral cooperation in industry and science, technology & innovation (STI). 

 

UAE crypto sector to witness increase in M&As and strategic partnerships 

UAE’s crypto industry is likely to see a major consolidation drive, with the sector predicted to witness a wave of mergers and acquisitions and strategic partnerships. Leveraging regulatory  approvals in Dubai and Abu Dhabi,  key  players in the crypto  industry are likely to  launch  global  and regional  expansion drives.