07/02/2014 13:59 AST

Business licences issued by the Department of Economic Development (DED) over the final three months of 2013 were 12 per cent higher than those issued during the same period of 2012 as economic activity and investor confidence remained on an upward curve.

The department issued a total of 4,573 licences in the third quarter of 2013 as the tourism sector saw a 29 per cent year-on-year increase in licensing activity with the commercial and professional sectors also witnessing 12 per cent and 11 per cent increase, respectively, a DED statement said.

Commercial licences accounted for the highest share 73 per cent of the total licenses issued in Q4, 2013 reiterating Dubai's prominence as a trading hub while the professional sector came second with 25 per cent. The tourism and industrial sectors each accounted for one per cent of the licenses issued in the same period.

"More and more investors will step forward as Dubai pushes ahead with adding new economic sectors and enhancing competitiveness as well as ease of doing business," remarked Saeed Matar Al Marri, deputy CEO of business registration and licensing (BRL) sector in DED .

Compared to Q4 of 2012, the number of reserved trade names rose by 18 per cent and reached 18,509 while initial approvals rose 19 per cent to reach 8,565 during the final three months of 2013.

The total number of commercial activities licensed in Q4, 2013 rose five percent year-on-year and reached 11,955 with general trade (589 licences) leading the top ten list. Tiling of floors and walls (882 licences), dyes and paints (474 licences), carpentry and flooring (400 licences) and sanitary extensions and wares (430) were the leading activities in the general trade category indicating the renewed optimism among those who supply to the construction sector.

A total of 3,003 professional activities were licensed in Q4, 2013 with cleaning services for buildings and residences (223 licences) leading the list of top ten activities in this category. Licences for special purpose facilities activity (178), restaurants (141), electrical repair and extensions (87), cafes (80) and transaction follow-up services (57) were the other major professional activities in the list.

In the tourism sector, inbound tourism stood top with 39 licences in a total of 64 activities, with travel and tourism agencies (14), leased hotel apartments (6) and hotels (4) coming next. Construction metal parts, salt packaging and fruit canning, doors and interiors and repair of boats and ships were the main activities among the 39 industrial activities licensed in Q4 2013.


WAM

Ticker Price Volume
QNBK 123.30 103,897
MMG 0.00 0
SABIC 100.87 2,504,855
CHEMANOL 7.11 932,192
TRADEUNION 20.69 200,872
TAWUNIYA 95.40 17,663
STC 71.32 119,991
Popularity of Islamic banking products slumps in the UAE

23/09/2017

The number of UAE consumers applying for Islamic banking products has declined since last year, according to a new study from yallacompare, the Middle East comparison website.

Yallacompare

Arabian Business

DEWA & Dubai Airports sign MoU to promote Smart Dubai

23/09/2017

Dubai Electricity and Water Authority (DEWA) signed a Memorandum of Understanding (MoU) with Dubai Airports, as part of the efforts to expand cooperation and joint efforts to promote Smart Dubai, lau

Media Office Dubai

DIFC’s Global Financial Forum will explore opportunities

23/09/2017

Dubai International Financial Centre (DIFC), the leading international financial hub for the Middle East, Africa and South Asia (MEASA) region, has today announced the preliminary speaker list for it

Media Office Dubai

UAE hails partnership with IAEA

23/09/2017

Hamad Ali Al Ka’abi, Permanent Representative of the UAE to the International Atomic Energy Agency, IAEA, has expressed the UAE’s appreciation for the Agency’s efforts in assisting member states to b

WAM

Saudi to introduce bankruptcy law early next year

23/09/2017

Saudi Arabia is set to introduce a bankruptcy law early next year as part of efforts to attract foreign investment and encourage private sector activity, said a report, citing Saudi-owned broadcaster

Trade Arabia