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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. [37] In 2014, Dubai owed a total of $142 billion in debt. [38] The UAE government has worked towards reducing the economy's dependence on oil exports by 2030. [39]
Sheikh Khalifa bin Zayed Al Nahyan (2004–2022), President of UAE and Ruler of Abu Dhabi. Sheikh Mohammad bin Zayed Al Nahyan, President of UAE and Ruler of Abu Dhabi and Commander of UAE Armed Forces. Sheikh Hamdan bin Zayed bin Sultan Al Nahyan Emir's Representative in the Western Region of Abu Dhabi.
Sheikh Mohammed is the third of four sons of Sheikh Rashid bin Saeed Al Maktoum, ruler of Dubai. The Al Maktoum family is Dubai 's ruling family and descendants of the House of Al-Falasi, of which Mohammed is the tribal leader. [ 22] His mother was Sheikha Latifa bint Hamdan Al Nahyan, daughter of former ruler of Abu Dhabi Sheikh Hamdan bin ...
Khalifa was the eldest son of Zayed bin Sultan Al Nahyan, the first president of the United Arab Emirates. As crown prince of Abu Dhabi, Khalifa carried out some aspects of the presidency in a de facto capacity from the late 1990s when his father experienced health problems. [ 6] He succeeded his father as the ruler of Abu Dhabi on 2 November ...
Sheikh Mohamed is the third son of Sheikh Zayed bin Sultan Al Nahyan, who was the first president of the UAE and the 16th ruler of Abu Dhabi. [6] [7] MBZ became the crown prince of Abu Dhabi in November 2004, following the death of his father and his brother, Sheikh Khalifa became the second president of the UAE and the ruler of Abu Dhabi. [8]
The current standard VAT rate in the country is 5%. [ 2][ 3] In January 2022, the UAE Ministry of Finance announced the implementation of a federal corporate tax starting June 2023. [ 4] The standard rate of corporate tax is 9%, some exempt businesses and those with net annual profits under AED375,000 (US$102,100) qualify for a rate of 0%, and ...
The United Arab Emirates is one of the first countries in the Persian Gulf region to use cloud seeding technology. UAE scientists use cloud seeding technology to supplement the country's water insecurity, which stems from the extremely hot climate. [ 2] They use weather radars to continuously monitor the atmosphere of the country. [ 3]
Dubai Gold Souk or Gold Souk ( Arabic: سوق الذهب ), is a traditional market (or souk) in Dubai, UAE. The souk is located in Dubai's commercial business district in Deira, in the locality of Al Ras. The souk consists of over 380 retailers, [ 1] most of whom are jewelry traders. Dubai Gold Souk entrance. As of 2020, some of the shops are ...