The Dubai Multi Commodities Centre registered 204 new companies in August to post its best performance in the month since its establishment in 2002.
“The record-breaking level of business activity, even during the quieter summer months, reflects the continued appeal of our business district to companies of all sizes and origins,” said Ahmed bin Sulayem, executive chairman and chief executive of the DMCC.
The DMCC also registered 1,230 new companies in the first half of 2021, its best six-month performance since 2013. It intends to have 20,000 members by the end of the year.
“As Dubai prepares to welcome the world to Expo 2020 Dubai in a few weeks, we see a wealth of opportunities on the horizon. Building on this momentum, we are looking forward to the next few months, which will undoubtedly be marked by many more milestones and achievements,” said Mr bin Sulayem.
The DMCC, which oversees companies trading a range of commodities – from pulses to diamonds, unveiled various new initiatives to help it boost growth and attract more companies to set up operations in the free zone.
The free zone set up a new space in May to house companies developing cryptocurrency and blockchain technology in partnership with Switzerland’s CV Labs, the organisation behind the Swiss government-backed Crypto Valley.
The free zone also slashed set-up fees for diamond companies by 50 per cent last year in a move designed to boost Dubai's trade of precious stones and attract international companies to the emirate.
Other initiatives include the launch of an agricultural trading platform to connect farmers in India with food companies in the UAE, in an effort to boost food imports from India.
The DMCC registered 2,050 new companies last year, a five-year high for the free zone.
THE SPECS
Engine: 3.5-litre V6
Transmission: six-speed manual
Power: 325bhp
Torque: 370Nm
Speed: 0-100km/h 3.9 seconds
Price: Dh230,000
On sale: now
AI traffic lights to ease congestion at seven points to Sheikh Zayed bin Sultan Street
The seven points are:
Shakhbout bin Sultan Street
Dhafeer Street
Hadbat Al Ghubainah Street (outbound)
Salama bint Butti Street
Al Dhafra Street
Rabdan Street
Umm Yifina Street exit (inbound)
Who was Alfred Nobel?
The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.
- In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
- Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
- Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
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David Haye record
Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4
Retail gloom
Online grocer Ocado revealed retail sales fell 5.7 per cen in its first quarter as customers switched back to pre-pandemic shopping patterns.
It was a tough comparison from a year earlier, when the UK was in lockdown, but on a two-year basis its retail division, a joint venture with Marks&Spencer, rose 31.7 per cent over the quarter.
The group added that a 15 per cent drop in customer basket size offset an 11.6. per cent rise in the number of customer transactions.
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