Dubai news – Blog

Happy 50th UAE National Day 2021!!!

CRENOV8 — Wed, 01 Dec 2021 19:30:50 +0000

In celebration of the UAE’s National Day, Crenov8 wishes the UAE a lovely and Happy 50th UAE National Day!

At Crenov8 wishes the President of the UAE, His Highness Sheikh Khalifa bin Zayed Al Nahyan, and the wonderful people of the UAE a very Happy National Day.

A fifty-year celebration of togetherness, growth, and greatness.

This year, the United Arab Emirates celebrates its 50th anniversary.

We are also celebrating the visionary men and women who helped us get here with their passion, motivation, innovation, and creativity.

We celebrate the spirit of tolerance, love, and peace as well as the richness of the UAE’s culture on this special day of celebration.

Crenov8 wishes the UAE a happy 50th National Day and looks forward to the next 50 years!!!

May this National Day mark the beginning of a bright new era!

Dubai has officially opened its doors to the World for Expo 2020

CRENOV8 — Fri, 01 Oct 2021 07:53:52 +0000

The big day is finally here!!! Today, Friday, October 1, 2021, Expo 2020 Dubai officially opened its doors to the world.

Millions of people from all around the world are expected to visit Expo 2020 Dubai, which will take place from October 1, 2021, to March 31, 2022.

Expo 2020 Dubai, dubbed the “Greatest Show on Earth,” will host millions of tourists from around the world over the course of its six-month run.

It is a global exhibition that celebrates the most cutting-edge inventions and features 191 pavilions for countries around the theme of “connecting minds and creating the future.”

Street festivals, parades, stage displays, and music concerts are expected to be part of the exposition. It will also have over 200 restaurants, providing a wide range of dining options.

Source: Travelsonclick

How will Dubai Expo 2020 impact the UAE economy?

CRENOV8 — Thu, 23 Sep 2021 01:30:02 +0000

The Dubai Expo 2020 will welcome tourists from all around the world from October 1, 2021, to March 31, 2022, after being postponed due to COVID-19.

The event would bring the entire world together in one location to imagine the future.

Expo 2020 is a world exhibition that will take place in Dubai, the United Arab Emirates in 2020.

Expo 2020 will be a worldwide event where countries will display their pavilions.

The event will be the first World Expo to be hosted in the Middle East. For six months, Dubai will be open to the entire world.

The expo will be a celebration of all cultures, encouraging cross-cultural collaboration and creativity.

Expo 2020’s theme is “Connecting minds, building the future,” which comprises three sub-levels: sustainability, mobility, and opportunity.

The event will serve as a global platform for investment, cross-border collaboration, and partnerships.

Expo 2020 Dubai will promote the UAE Vision 2021 by promoting tourism, boosting the development of innovative firms in the UAE, and enhancing the country’s international reputation as a business destination.

Businesses of all sizes will gain from exposure to new, global, and local – clients, partners, and investors at the global event. The Expo is a great way to break into new markets.

The goal of the Expo is to give people the ability to determine the future. This includes promoting social problem solutions through the Expo Live program and inspiring visitors with new ways to address problems and contribute to human progress.

The Expo will highlight how Dubai has grown from a sleepy hamlet to a worldwide hub for companies of all kinds and origins.

Expo 2020 will take place on a 4.38-square-kilometer location in Dubai’s South area, next to Al Maktoum International Airport and the Dubai and Abu Dhabi Cruise Terminals.

Here are some of the economic impacts of the Dubai Expo 2020:

New purchasers who have come to the UAE to witness the Expo are expected to show interest in the UAE real estate market.

EXPO 2020 in Dubai will mark a watershed moment in the history of international relations.

Effective trading connections to Asian and African markets will be built, allowing for increased re-export and export volumes.

The United Arab Emirates will gain an additional 25 million visitors thanks to Dubai.

Expo 2020 Dubai is projected to draw visitors from 192 nations around the globe.

300,000 additional jobs are estimated to be created as a result of Expo 2020.

Expo 2020 in Dubai is expected to bring in over US$23 billion.

The expo is estimated to bring in between $100 and $150 billion in foreign investment in Dubai and across the UAE.

Dubai’s economy is predicted to grow by $33 billion as a result of the Expo.

Happy Birthday To An Inspirational Leader, H.H Sheikh Mohammed Bin Rashid Al Maktoum

CRENOV8 — Thu, 15 Jul 2021 11:23:57 +0000

Happy Birthday to the greatest leader of our time, H.H Sheikh Mohammed Bin Rashid Al Maktoum, the ruler of Dubai, Vice-President, and Prime Minister of UAE.

Today we celebrate his vision, passion, excellence, commitment, perseverance, and hard work towards making Dubai a global cosmopolitan city that it is today.

Sheikh Maktoum launched ground-breaking initiatives in a record time, his mission to make UAE one of the best countries in the world is indeed a dream come true for UAE and for all the people of UAE.

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In order to boost its economy, UAE opens citizenship to foreigners

CRENOV8 — Sun, 31 Jan 2021 23:12:49 +0000

The United Arab Emirates (UAE), the first Gulf Arab nation to formalize a mechanism aimed at giving foreign residents a greater stake in the economy.

The UAE aims to give citizenship to a select group of foreigners.

Prime Minister Sheikh Mohammed Bin Rashid Al Maktoum said:

“The new directives aim to attract talents that contribute to our journey of development.”

The UAE cabinet, local Emiri courts & executive councils will nominate those eligible for the citizenship under clear criteria set for each category. The law allows receivers of the UAE passport to keep their existing citizenship.

— HH Sheikh Mohammed (@HHShkMohd) January 30, 2021

We adopted law amendments that allow granting the UAE citizenship to investors, specialized talents & professionals including scientists, doctors, engineers, artists, authors and their families. The new directives aim to attract talents that contribute to our development journey.

— HH Sheikh Mohammed (@HHShkMohd) January 30, 2021

However, the reforms would enable selected investors and professionals.

This will include scientists, doctors, engineers, artists, authors and their families, to be granted citizenship by the UAE.

Those eligible for citizenship will be nominated by the UAE cabinet, local courts and executive councils.

Although, conditions will be set for each category, he said.

The legislation would also allow UAE passport recipients to retain their current citizenship.

The requirements that must be met to obtain citizenship are, according to a statement released by the UAE state news agency WAM:

A property in the UAE must be purchased by investors.
Doctors and specialists are expected to specialize in a particular scientific discipline or any other scientific principles which are highly important in the UAE.
Scientists are expected to be an active researcher in a private sector or university or research. center, with practical experience of not less than 10 years in the same field.
Pioneers in the fields of culture and art, and recipients of one or more foreign prizes, should be individuals with artistic abilities, such as intellectuals and musicians.
A letter of recommendation from relevant government agencies is compulsory as well.

According to the statement, citizenship may be revoked upon violation of the terms.

It was not immediately clear if the full rights and benefits of people born in Emirati would be given to those who would be granted citizenship.

Everything you need to know about the Economic Substance Regulations in the UAE

CRENOV8 — Sun, 10 Jan 2021 07:21:18 +0000

The Economic Substance Regulations (ESR), supplemented by guidelines released on September 11, 2019, were issued by the United Arab Emirates Cabinet of Ministers.

However, the Economic Substance Regulations to applies to all entities engaged in a related operation in the UAE.

Including entities formed in free zones and financial free zones.

Also, In 2019, in response to being blacklisted by the EU for tax purposes, the UAE Government adopted After last month’s record-breaking diamond tender, DMCC will host six more.

An assessment of the UAE tax system by the EU Code of Conduct Committee on Business Taxation.

The EU removed the UAE from the blacklist in late 2019.

Some of the key objectives of the previous ESR is to ensure that UAE organizations are able to demonstrate an adequate economic presence.

In relation to their activities and to disclose actual income in line with the economic activities carried out within the UAE.

As part of the UAE’s commitment as a member of the OECD Inclusive Process, the UAE released ESR.

Although, it was released on 30 April 2019 in response to an evaluation of the UAE’s tax framework by the European Union Code of Conduct Committee on Business Taxation.

Guidance on the implementation of the Regulations was released on 11 September 2019 (Ministerial Decision No. 215 of 2019).

Meanwhile, the Regulatory Authorities charged with implementing and executing the Regulations are specified in Cabinet Decision No. 58/2019 on the determination of regulatory competencies.

Scope of the Regulations

Regulations were made by Resolution No. (57) of the Cabinet of Ministers of 2020 of 10 August 2020.

Although, the revised Guidelines were released on 19 August 2020. (Ministerial Decision No. (100) of 2020.

The Regulations require onshore and free zone UAE companies and certain other business forms that carry out any of the ‘Relevant Activities’ specified below to maintain and demonstrate an adequate “Economic presence” in the UAE in relation to the activities they perform.

Relevant Activities are:

Banking Business
Insurance Business
Investment Fund management Business
Lease – Finance Business
Headquarters Business
Shipping Business
Holding Company Business
Intellectual property Business (“IP”)
Distribution and Service Centre Business

Any business or organization which carries out one or more of the related activities referred to above shall maintain and demonstrate an adequate “economic presence” in the UAE in relation to the activities undertaken by it (the Economic Substance Test).

For financial years commencing on or from 1 January 2019, the Regulations apply.

Entities within the scope of the Regulations are expected to send to their Regulatory Authority an annual Notification Form.

More-also, to submit an Economic Substances Report to the same Regulatory Authority within 12 months of the end of their financial year, (e.g. 31 December 2020 for entities with a financial year ending 31 December 2019).

After last month’s record-breaking diamond tender, DMCC will host six more

CRENOV8 — Sat, 09 Jan 2021 12:31:14 +0000

In January, DMCC will host six diamond tenders at the largest diamond tendering facility in the world, the Dubai Diamond Exchange.

This follows last month’s record-breaking tender, which saw the highest ever rough diamond tender sales in the UAE.

In addition to the usual long-term hosts, Trans Atlantic Gems Sales (TAGS), Stargems, and Rapaport, three new companies will host tenders – IHenning, KOIN International, and Choron / Bonas Party.

Also, a total of 379,912 carats of rough diamonds were sold in last month’s tender.

With prices at $87.47 million (Dh321.29 million) and 115 winning customers.

However, the tender was attended by over 250 companies.

And over 500 people flew to Dubai to participate in the event.

With delegates from India, Hong Kong, Russia, Israel, Belgium, and Lebanon.

With direct flights to the leading diamond hubs, Dubai sits at the crossroads of the rough diamond trade.

The recent agreement signed between DMCC and the Israel Diamond Exchange, the company said in a statement, is expected to further improve regional trade and help the development of the global diamond industry.

Highlights from GITEX 2020

CRENOV8 — Tue, 08 Dec 2020 11:30:58 +0000

The 40th edition of GITEX Technology Week kicked off on the 6th of December 2020 at the Dubai World Trade Center, with Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Dubai Crown Prince and Chairman of the Executive Council of Dubai inaugurating the event.

Attendees include dignitaries and leading global organizations from several industries to showcase over 1200 innovative tech exhibitions, share business portfolios, network, and create lasting business partnerships with other participants from over 60 countries.

Amidst the global pandemic, the UAE government has ensured that appropriate safety measures exist starting with the certification of the venue by the Bureau Veritas SafeGuard, verifying its compliance with the highest hygiene standards and effectively controlling the crowd size, ensuring they wear masks, have their temperature taken and maintain a safe social distance of 2 meters between guests Exhibition categories comprise of AI (Artificial Intelligence), cloud computing, cybersecurity, cloud services, technology for the healthcare sector, smart retail, flying cars, smart cars, robotics, and drones; alongside a conference lineup of over 350 in-person innovative speakers from 30 countries.

At the peak and thrill of the many attendees are exhibitions from Adran (37 years, London born, blue-colored, AI-powered humanoid robot), Future Flying Uber Taxi, Boston Dynamics Robot dog, Etisalat Virtual Reality simulation experience, among many other innovative solutions.

Day two wrapped up with a dance competition that lit up the atmosphere and attracted the attention of attendees as it involved an interactive voting process.

With three more days to go, the event only gets more interesting for her very many attendees inspiring hope, connectivity, and future innovations.

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49 Years of the United Arab Emirates: A 7×7 Fact Sheet

CRENOV8 — Tue, 08 Dec 2020 11:03:53 +0000

As the United Arab Emirates (UAE) celebrates its 49th National day, let’s explore some interesting stats about the UAE.

• Demographics

o Population: 9.8 million

o Male: 69%

o Female: 31%

o Migrants: 88%

o 0.13% of the world population

o Median age: 32.6 years

o Literacy rate: 93%

• Business

o Current GDP of UAE at $353.9 billion and tourism accounts for about 10% of the nation’s GDP

o The UAE economic growth was triggered by the discovery of oil in the region

o With Dubai also referred to as the City of Gold, there are ATMs that dispense gold bars in UAE.

o The UAE is rated as one of the safest countries in the world.

o Petrol and bottled water cost almost the same price.

o Prior to the 1930s, pearling was Abu Dhabi’s most important industry and primary source of income.

o Dubai’s Gold Souk is the largest market for gold in the world.

o The UAE is home to the richest horse race in the world, the Dubai World Cup.

• Tourism

o Dubai has four human-made islands: The Palm Jumeirah, the Palm Jebel Ali, Deira Island, and The World Island.

o The Dubai International Airport Terminal 3 is one of the largest airport terminals in the world.

o You can go skiing indoors on a four-kilometer slope in Dubai.

o Masdar City in Abu Dhabi is the world’s first zero-carbon, zero-waste, car-free city. o Dubai has the world’s longest driverless metro system, with more than 46 miles of track.

o The Burj Al Arab is the world’s first seven-star hotel and is considered one of the most luxurious in the world.

o The Miracle Garden in Dubai is the most extensive flower garden in the world.

• Culture & Religion

o Islam is the nation’s official religion, but it is home to over 40 places of worship for other faiths.

o The oldest mosque in the UAE is in Fujairah and it is 600 years old.

o The UAE has seven royal families ruling the seven Emirates.

o The Ghaf tree is the National Tree of the UAE

o Camels are an Important Part of the UAE Culture

o The UAE’s national animal is an Arabian Oryx while Falcons are the National Birds of UAE

o UAE is a culturally diverse nation with over 200 nationalities represented across all the Emirates.

• Geography

o Ajman is the smallest emirate in the UAE.

o Abu Dhabi is the largest Emirate in the UAE.

o Total land population 83,600 square km.

o Fujairah is the UAE emirate with the most mountains

o Burj Khalifa is the tallest tower in the world. It is 828 meters high.

o Palm Jumeirah can be sighted from space.

o Dubai also has the largest man-made island in the world and there are no ‘real’ rivers in the UAE.

• Restaurant & Dining

o Dubai is home to the world’s most expensive cupcake. It costs Dh3,700 and made with 23-carat edible gold dusting

o Dubai restaurants have a habit of dusting gold on a lot of food. Steaks, burgers, ice creams… even Karak chai

o You can eat Camel biscuits and Camel milk chocolate in the UAE.

o You can also try a camel burger too. o The UAE is responsible for 6 percent of the world’s date production.

o Kabsa is considered by many as a national dish in the UAE

o The largest cup of tea is 5,000 liters (1,320.86 gallons) and was achieved by Global Village Dubai (UAE) in Dubai, UAE. It measured 3.66 m high and 1.42 m in diameter with a heating system to maintain the tea’s temperature at 85 degrees Celsius.

• Guinness World Records

o The UAE is home to 425 Guinness World Records with 34 of them achieved in 2020 alone.

o Indian school in Sharjah sets Guinness record and marks 2020 National Day with largest online video chain of people passing a flag

o Abu Dhabi is home to the world’s largest indoor sky diving tunnel at CLYMB Abu Dhabi with a record-breaking width of 32 feet and height of 104 feet.

o The Dubai Mall is the world’s biggest mall home to 1,200 shops across 10 million square feet, an underwater zoo, and an ice rink.

o Ferrari World Abu Dhabi Formula Rossa rollercoaster is officially the world’s fastest with acceleration up to 240km/h.

o Dubai 10-million-liter Aquarium tank is home to over 140 species of animals, including sharks and the largest suspended aquarium in the world.

o Dubai is home to two of the worlds’ largest dancing fountains the world. The Dubai Mall. Fountain and The Palm Fountain.

The post 49 Years of the United Arab Emirates: A 7×7 Fact Sheet appeared first on Blog.

UAE Business scene thrives in 2020 despite the Global pandemic crisis

CRENOV8 — Tue, 08 Dec 2020 10:51:53 +0000

With 49 years of continuous resilience, UAE has stood the test of time in ensuring a continuous enabling business environment for local and foreign direct investment across multiple business sectors amidst the global pandemic in 2020.

The country takes pride in her continuous adoption of global best practices in business operations, multiple award winnings for sustainability, health and safety, innovations and digital economy, and futuristic economic trends. Our top five national achievements are highlighted below:

• The Probe Hope Launch to Mars: After establishing the First Space Agency in 2014, UAE launches its first probe to provide a complete picture of the Martian atmosphere.

This mission involved nearly 200 Emirati engineers and researchers, who worked hard for six years to fulfill the UAE’s dream to reach the Red Planet.

• Curtailing the Covid-19 Pandemic: Despite the global scare of the viral epidemic, UAE has been successful in limiting the spread of the virus using preventive and curative measures, such as developing a laser-based DPI (Diffractive Phase Interferometry) technology to detect COVID-19 cases, using the stem cell therapy for patients and inventing a vaccine.

• Successful start-up of unit 1 of Barakah Nuclear Energy Plant: The Emirates Nuclear Energy Corporation announced the start of Unit 1 of the Barakah Nuclear Energy Plant in Abu Dhabi to produce up to 25% of the country’s electricity requirements and preventing the release of 21 million tons of carbon emissions each year.

• Ranked 9th place in the world amongst most competitive countries: The four main factors considered were Economic Performance, Government Efficiency, Business Efficiency, and Infrastructure alongside 20 sub-factors each that cover 338 competitive indicators in various fields.

• UAE tops the Middle East & North Africa as the region’s most valuable national brand as per Brand Finance’s ranking of leading valuable brands for 2020. The Emirates Mars Mission and Expo 2020 significantly contributed to bringing the UAE into the spotlight

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