dubai in1900

Since the turn of the twentieth century, Dubai, the largest city in the United Arab Emirates (known before independence as the Trucial Coast), has derived its fame and prosperity from trade. With little or no other means of livelihood, commerce became the main source of income for the Shaikhdom. Dubai's port became the main entrepot in the Gulf, and the busiest trading port in the region.
Los Angeles: The Walt Disney Co said Friday it had cut 1,900 positions at its US theme parks as part of an earlier announced reorganisation, representing about 11 per cent of salaried employees in the division.


Some 1,200 people were laid off and 700 open positions will be left unfilled in the second phase of a reorganisation begun in 2005 that was accelerated by the recession.

The company did not say whether it would book a severance charge, or how much the cuts would save.


"These decisions were not made lightly, but are essential to maintaining our leadership in family tourism and reflect today's economic realities," said Disney spokeswoman Tasia Filippatos in a statement.

In many respects Dubai typifies the way in which Gulf cities have developed over the past two hundred years. Many have grown rapidly from small merchant communities to thriving commercial centres. In fact Dubai owes much of its prosperity and development to its merchants who played a key role in restructuring the economy and in the government decisionmaking process. As the main contributors to the economy, they played a fundamental role in implementing economic and political reforms, and were the driving force behind Dubai's development in the pre-oil era. When oil was struck in the mid-1930s and revenue began to pour into the state's treasury, many predicted a decline in the influence of merchants whose revenues had shrunk, and who had consequently lost some of their power. A closer examination of Dubai's development shows however that any decline in the merchants' influence was only temporary. Even today they continue to play a fundamental role not only in economic affairs, but also in reformulating the political structure of Dubai. Furthermore, merchants have taken on additional roles as service suppliers, urban planners, culture mediators, and internationalists who represent the Gulf throughout the world. Using Dubai as a case-study this article examines the rise of the merchant class in the Gulf, its influence in decision-making in the pre-oil era, and its role in shaping the future of the Arab Gulf.

For many decades Dubai was a stopover for boats heading to and from Persia, India, China and East Africa. It was also the starting point of the great caravans to the West. Archaeological findings in the area confirm the historical importance of Dubai as a regional trading centre. In fact since the early twentieth century Dubai has been known as the `city of merchants'.(1) It has a fine natural harbour; its strategic location on the mouth of the Gulf, coupled with the initiative of its merchant community, contributed greatly to its rise as a thriving commercial centre. These assets have resulted in Dubai becoming what it is today, the principal entrepot of the Arabian Gulf.

Dubai's merchant community has always been cosmopolitan. Indians and Persians have traded freely on equal terms with Arab residents for centuries. So it remains to this day. The cosmopolitan nature of Dubai society allowed no major distinction between the ethnic groups which lived and traded in the city and environs. However, the pure tribal Arabs were regarded as the bourgeoisie, or the A `yan of the society. Members of this upper-middle class limited their economic activities primarily to pearl fishing and trading, both of which were considered honourable occupations. Hundreds of Indian British subjects, or Banians, settled in Dubai after 1865. They represented British Indian firms in Bombay and formed a segment of the merchant class. Indians took to banking, since Muslims, bound by religious law, could not practise usury. It was, therefore, the Banians for the most part who financed the yearly pearling expeditions. In addition, the Indian merchants supplied the diving fleets with textiles and imported goods, taking pearls in payment for supplies. They also monopolized shopkeeping and retail trading activities; many became extremely rich. As a result, Indians comprised the second biggest economic class in Dubai.

Persians who had moved to Dubai from the other side of the Gulf and made Dubai their new home, monopolized retail trade and foodstuffs. Their common religion and similar social customs meant the Persians and Arabs mingled freely and often intermarried, thus producing a third important class grouping. As we have seen, the foreign mercantile community controlled the financing sector, which, though it worked well in times of general prosperity, was later to prove disastrous.

With its sophisticated mercantile tradition and a strong commitment to urban planning, even in these early days, Dubai grew in an orderly if rapid manner. Its commercial sector, based on a strong trading tradition, made it prosperous long before the Emirate became an oil producer. It was the good fortune of this mercantile city-state to be governed by a liberal and far-sighted ruler at the turn of the twentieth century when new commercial opportunities were arising. Shaikh Maktum bin Hasher, who ruled from 1894 to 1906, was a paternalistic merchant prince who governed with little, if any, formal administrative structure. His rule included part of the period during which the pearling industry experienced fast growth.

The 1900-29 era is characterized by two main developments: the growth of the pearl trade, and the emergence of Dubai in 1903 as the main port of the Trucial Coast. Both these factors greatly affected the merchants' role and intensified their influence, making them a primary driving force behind social change.

Like its Gulf counterparts, Dubai was largely dependent on the traditional pearling industry as the backbone of its economy. Pearls have been treasured and traded as beautiful adornments for the wealthy for centuries, and up until the 1930s, the Gulf was one of the most prolific pearl producing areas in the world. The pearling industry reached its peak just before the First World War when demand for pearls in India, Europe and America made this industry very profitable. When we review the available trade statistics of the Trucial Coast for that period, it is immediately apparent how dependent the inhabitants of Dubai were on pearl diving. It was their only means of generating income to purchase the basic necessities of life: rice, sugar, coffee, textiles and wood, items which they did not produce themselves. At the turn of the twentieth century Dubai had the highest number of men employed on pearling boats in the Trucial Coast (6,936 according to Lorimer).(2) Dubai's merchants owned around 335 pearling ships, nearly one-third of the total (1,060) owned by the Trucial States' merchant community; this made Dubai's the second largest diving fleet in the area.(3)
The latest reorganisation, designed to further unify two units operating separately at parks in Orlando, Florida, and Anaheim, California, was announced in February, but new leadership put in place took time to determine what cutbacks were necessary.


The vast majority of the cuts came from managerial and other salaried staff, not from employees in the parks who interact with park visitors. Some further reductions are planned.


Among the cuts announced Friday were 50 executives who accepted a voluntary buyout that was offered to 600 people.


Disney shares, which fell 21 cents, or 1 per cent, to close at $20 (Dh73.4), gained 13 cents in after-hours trading.


This importance was recognized by Paul Harrison, a missionary whose accounts of his travels to the Emirates during that period are considered a good source of information on the area's history. Harrison described the Trucial Coast as `the second largest diving community in the region whose capital and largest city is Dubai'.(4) As the richest of the pearl fisheries in the Gulf lie between Qatar and Dubai, the latter's port became a centre for provisions and …

business in Dubai

With the country’s oil on the wane, Dubai’s ruler, Sheikh Mohammed bin Rashid Al Maktoum, realised he needed to diversify his economy and has been actively courting investment. Western companies enjoy zero taxation and entrepreneurs no longer need to find a local sponsor before setting up a business. There’s also been colossal investment in infrastructure, with new roads, man-made islands and tall towers. Everyone has a different estimate as to the proportion of the world’s cranes that are in Dubai – some say 15%, others 55%.
Before you jump in too deep with your business idea, you should gather as much local knowledge of the region as possible. You should especially look into the industry that you are interested in working in with your business. You will need to develop a viable business plan for your business that includes forecasting and a survey of current market conditions. You should already have investors in place for your venture if possible. The law states that you are required to have a local partner in Dubai that holds the majority interest in the company. This means that the partner can control the business and it can be an individual or a company. The partner does not have to contribute financially to the start up business. You will need to register your business as well. Once it is registered you will have to show proof of sufficient financial resources to invest to the Ministry of Commerce. The amount you need to have tends to vary but it somewhere between $10,000 and $50,000. This amount is used as a guarantee against liabilities; however you are allowed to withdraw it after you have shown that you
BIG BUSINESS

Dubai has a fondness for the biggest things. The world’s tallest tower, the Burj Dubai, will be completed in 2008, reaching a stomach-churning 800 metres plus. It is planning the world’s biggest airport and the largest man-made marina is already in place. The soon-to-be-opened Dubailand will take the crown for theme park size, and other whoppers include a 70km Metro link. The government reasons that world records create publicity and interest which are then followed by investment.

The policy appears to work. More than 200 UK firms now have a base here. Dubai’s population, one of the youngest in the world, is 80% non-indigenous – drawn by the prospect of big bucks. There’s also a buzz in Dubai and optimism that things can be done. The absence of tax oils the cogs and 11 months a year of sunshine does no harm either.

But there are plenty of gaps to fill, so it is a haven for entrepreneurs. Steve Kirrage, senior vice president of banking products company Pistilion, has been in the Middle East for five years and has witnessed huge growth in Dubai: “There’s opportunity in most market sectors because the population is increasing so significantly,” he says. “Whatever your business does, the market is growing exponentially.” Construction and property are the main areas of expansion and UK-based businesses, such as Shooba and Select Property, are enjoying a roaring trade.

“The way to make money abroad is to buy off-plan,” says Hannah Davies of Shooba. “You will only put down 10-15% and a year later that £50,000 property in Dubai will be worth £65,000. If you sell it is called flipping.”
Tourism and leisure are also growing well. Dubai has a bevy of luxurious and opulent hotels and some glorious beaches to match. But the government says it is keen to bring more entertainment into the country. It has hosted some big acts but there’s nothing that could be called a scene – promoters and artiste managers take note.

Dubai is in a good position to do business with much of the world. It’s just three hours from India, six from the UK and three hours ahead of GMT, and as a location for a Middle East office it’s ideal. The world’s blue chips have descended on it and they all have needs to be served.

IT and technology are hungry markets. Markos Symeonides, vice president of IT firm Axiom, says that Arabs are keen to buy into western technologies and ideas. “There’s a big training market out there; they want to know what’s happening in the West and to buy into it,” he says.

FREEZONES

Previously, if you wanted to do business in the Middle East you required a local “sponsor” who would take 51% of your business for their troubles. Needless to say, this was something of a barrier to inward investment, unless you were there for oil or gas. But with oil predicted to run out by 2010, Dubai’s ruling family set up Freezones, where businesses hold on to the entirety of their company. The biggest is the Jebel Ali Freezone, dedicated to trade and manufacturing, but there are also zones for most other sectors, including medicine, media and IT. Betty Thayer, chief executive of exec-appointments.com, set up in the Airport Freezone. Her small office costs just £600 per month. But the process was slow – she began in March 2006 and started business in January – and there’s a fair amount of paperwork. The government will want to see a full business plan, previous accounts, tax returns and staff identification before granting a licence or a Freezone office. It is also discerning about who it wants to trade there.

“We had to work really hard to convince the government that we weren’t a recruitment company,” she says. The government apparently feels the area is already sufficiently catered for and isn’t keen to grant more licences in that sector. Don’t be tempted to gain access without all the paperwork in place – you might end up ejected.

“Some companies from the UK try to go over there and set up without going through all the licensing process. It works for a while but you cannot keep going for long,” Thayer warns.

STAFF

Attracting employees to Dubai shouldn’t be hard. There’s no personal taxation, the cost of living is lower and there’s near-permanent sunshine. There’s a great buzz and some exciting nightlife. Alcohol is available in hotels, clubs and restaurants and people can generally go about their business as they please.
“As soon as my staff have finished their probation we send them out there for a few days and they love it,” says Mark Stott of Select Property. “It’s a seven-nights-a-week town and the standard of living is great.”
House prices are far below London’s, so Dubai could be a place for some young people to get on to the property market. But prices are rising rapidly in the housing sector, as in all others. Stott says a one-bedroom flat in a prime location such as the marina would now sell for about £160,000 whereas three years ago it was closer to £100,000.

business dubai part 2

The average worker in the Middle East is increasingly likely to be fat and suffer from diabetes. But while regional
It would be hard to overestimate the influence of medical policy on the health of a nation’s economyof dubai. Its implications are so far-reaching and complex that, in the US, the issue steered a presidential election and weighed heavily on the report card for Obama’s first year in office.

The political makeup of many Middle East countries dictates that health care is not so much of a hot potato in the media. But the issue still has serious implications for society as a whole.

Firstly, health care is big business in the region. Organizers of this month’s Middle East Healthcare Expansion Summit in Dubai predict that the industry will be worth $60 billion by 2025. “No other region in the world faces such rapid growth in demand,” they claim.

But the predicted growth of business of dubai in spending is no particular cause for celebration, given the dire health problems in many Middle East countries.

Take the region’s severe obesity and diabetes problem. As Gulf News reports today, a whopping 75 per cent of UAE population is overweight. Around 18.7 percent of the population has diabetes, a figure expected to rise to 21.4 per cent by 2030, according to an expert quoted by the newspaper.

Professor Philip James, Chairman of the International Obesity Task Force and Director of the Public Health Policy Group (UK), says this is a problem affecting the Middle East as a whole. “Obesity has reached alarming proportions in the Middle East as over 45 per cent of women in the 15-49 age group are overweight or obese,” he says. “[There is a] need to tackle issues related to obesity more aggressively.”

But regional policymakers and influential royals are paying more and more attention to these worrying trends.
business of dubai
Princess Haya Bint Al Hussein, wife of Dubai ruler Sheikh Mohammed Bin Rashid Al Maktoum, highlighted the economic concerns of the emerging healthcare crisis in her keynote address at the recent Arab Health Exhibition and Congress in Dubai.
governments are waking up to this looming health crisis, employers have a role to play too.

business in dubai....

Dubai is one of the best places to set up business operations. The conditions, rules and laws for the same are very liberal and attractive as compared to many other countries. Thus Dubai has established itself as a great economic force, attracting more and more organizations, entrepreneurs and investors to set up their businesses here.
There are many options for foreign or international corporations wanting to start operations or initiate new businesses in Dubai. They can start by creating a trading relationship. For many companies, there are advantages if they have a presence in Dubai to research market conditions, establish contacts, meet prospective customers, and finalize transactions and orders.

According to the laws established by Dubai government, at least 51% participation of UAE citizens is the basic requirement for setting up any business in Dubai. But there are exceptions in cases if or where:

Data Dubai is a UAE & Dubai based directory providing useful links and information about Dubai & UAE business and economy resources including other regions of UAE which include Abu Dhabi, Sharjah, Ajman and Fujairah. The Directory contains listings on economic statistics, maps, resources, business services, guides, transportation information, middle east society and culture, health, industrial supplies, education and history about United Arab Emirates & Dubai.If you are looking for information and resources regarding Dubai & UAE, then feel free to browse through our directory which is humanly edited and maintained by our dedicated staff.
100% local ownership is mandatory as per laws.
The business is being established in Jebel Ali Free Zone
100% AGCC ownership activities are open
Fully owned AGCC companies enter into partnership with UAE nationals.
Foreign companies open their branches or an office in Dubai.
Professional or artisan companies set up their business as they are permitted 100% foreign ownership.

Dubai is a haven for import businesses. For anybody who wants to establish a business, or start a business venture on their own or in partnership, there are a couple of issues one should take note of:
Dubai’s import revenue is humongous. It exceeds $14 billion annually.
Dubai’s non-oil imports have risen sharply and there is a lot of scope for greater expansion. Dubai is becoming a hub for trading and is in turn becoming a major supplier for neighboring countries.
With a growing number of expatriates, there is an increasing demand for ‘foreign’ food products, latest electronic goods and other high-end products. So Dubai is definitely a great market and there are plenty of opportunities for greater export trading and establishing export businesses.
There are no stringent foreign exchange rules, quotas or conditions. The import duties are low, and many products are exempt from taxation.
The transportation facilities from the port to warehouses are unmatched in terms of efficiency and operations. So it is easy to transport and store goods in less time thus increasing profit margins.

Dubai- A Land of Investments



Dubai has a 20-year track record of strong economic growth, infrastructure development and political stability. In the recent years, the city has been a continuous attraction for foreign investors. Once regarded as the business hub of Middle East, Dubai is now known as the international business, and re-export center. Also, the number of tourists coming to Dubai is increasing year by year. These are enough reasons to make one say that the city is emerging as a land of investment.
Over the past decade, Dubai has transformed into a global business center with lots of foreign companies launching their operations and opening their branch offices here. The attractive currency rate in U.A.E, the tax-free policy and low price of properties have attracted foreign investors from all over the world to Dubai. From a land of vast deserts and people making a living by dates farming, the city has changed into a thriving modern metropolis with strengths in technology, trade, service and manufacturing, fortifying the economy and bringing huge foreign investments.
The geographical proximity of the city combined with the talents and markets of the Middle East, Indian subcontinent, and northern and southern Africa complimented with the sophisticated infrastructure facility, Dubai is racing fast on the road to become a thriving business hub. As a tax-free port in the world, with no sales tax or income tax, Dubai has become an ideal and lucrative location for foreign investors to start their business or open a branch of their company.
Additionally, Dubai is now emerging as the biggest property market in the world. The tax free salary offered by companies in Dubai makes it affordable for the residents to stay in high-rent accommodations. Therefore, the boom of the property market may last for long and this will provide a lot of investment opportunities to foreigners.

2002 and 2006 have been two great years for the property market in Dubai. The measures taken into these two years have resulted in helping the Dubai property market becoming mature and develop into a strong investment sector for expatriates. The market is now in full capability to cater to the ever increasing housing demands for inward immigrants in Dubai.
Dubai has a very diverse population, comprising of people with multiple nationalities and ethnic origins, living together. Census records indicate that 17% of the population of Dubai is UAE nationals, while the remaining population is distributed into the immigrants from neighboring countries, expatriates and temporary residents with work related or other visas. With the increasing number of businesses and multinational companies starting operations in Dubai, the inward migration of professionals and their families is also mounting. The tax-free salary in Dubai is one major attraction for professionals from world over to relocate to this city. Additionally, it is the wealth of job opportunities and leisure activities that attracts foreigners to Dubai.
With this trend of increased migration to Dubai, the housing needs
in Dubai are also escalating. As many of the companies are offering high tax-free salaries to expatriate employees, the rent is affordable to most of them. Earlier it was not possible for expatriates to buy residential or commercial property in Dubai. But now with the implementation of new freehold property law, expatriates can actually own property in Dubai. This has certainly increased the demand for properties. Expatriates who were spending money in the form of house or office rent for many years are now trying to save money to buy a property of their own.
As the property market in Dubai is in a growing stage, expatriates are thinking of buying a house as a future investment. Thus the inward migration of expatriates to Dubai has increased the demand of properties in Dubai.