The history of gold has been intrinsically intertwined with human progress and civilisation for at least six and a half millennia. Archaeologists uncovered the earliest processed gold treasures, comprising 3,000 artefacts, at an ancient Thracian burial site in Bulgaria. By 600 BC, gold was used as de facto currency through Lydian coins , marking the beginning of its role in formal economies.
The Digital Gold Ecosystem in the UAE Read More »
Imagine a company that had been running successfully for over 10 years was hit by a severe financial downturn. Its sales dropped significantly, and the company found it harder and harder to meet its financial obligations. Expenses began piling up, and soon, the company was unable to pay its suppliers or cover essential business costs.
Faced with mounting debts, the company chose to close its operations. The company had assets worth AED 5 million, including a warehouse, delivery trucks, and machinery. It also owed AED 3.5 million to creditors and AED 1 million to suppliers, totalling AED 4.5 million in debt. The company sold its assets, raising the necessary funds to settle its debts. The warehouse, trucks, and machinery were sold to various buyers, and the proceeds were distributed to cover the obligations to creditors and suppliers.
Liquidation of Companies in the UAE Read More »
How can self-interest, which, by definition, is about the self, end up benefiting society as a whole?
While this may sound counterintuitive, Adam Smith believed that in a competitive market, this happens all the time. To improve quality, reduce costs, and cater to customer demands, businesses try to outdo each other. Their drive for growth leads to innovation and creates better products and services. The “invisible hand” turns individual ambitions into a force for progress in a competitive marketplace.
Navigating Corporate Governance in DMCC (Dubai Multi Commodities Centre) Read More »
Globalisation is characterised by the free movement of capital across countries. But why does capital need to move? It is almost like capital has a mind of its own. It tries to find opportunities where it can achieve the highest returns, which often means moving across borders to areas where resources are more abundant, labour is more cost-effective, or markets are expanding rapidly. This movement allows for more efficient allocation of resources, increased…
Setting Up a Business in DMCC Read More »
The economic aspirations of a country depend on how well it prepares the ground for its long-term value creation, and the UAE has dominated this story in the last couple of decades. Between 2000 and 2022, the GDP of the UAE has grown by almost 500%. This is an extraordinary achievement that highlights the UAE’s forward-looking economic policies. However, the UAE’s growth story is not simply a matter of historical data. Its true potential will be unleashed in the coming years and decades.
Business Structuring in the UAE Read More »
Businesses need to respond to change, sometimes quite drastically!
The need for making substantial changes to a business may arise from a host of different factors, ranging from an overwhelming financial challenge to disruptive technology that has altered the entire competition landscape. It may also happen that the organisational structure that worked well for decades no longer fits the changing market dynamics. This is where restructuring comes into play.
Business Restructuring Challenges Faced by UK Expats in the UAE and How to Overcome Them Read More »
The economic landscape is rarely static. Economic cycles and overall technological progress create disruptions that characterise the continuous evolution of global businesses. Although the UK has dominated technological innovation and economic growth for centuries, the rapid shift in global dynamics has led many UK expats to explore new business opportunities elsewhere. The UAE has become one such place that has been able to capture the dreams of UK expats, with over 5,000 British companies and more than 100,000 UK nationals calling it their home.
Why are UK Expats Looking to Set Up a Business in the UAE? Read More »
Confirmation bias, overconfidence, evading responsibility, and absolute certainty in the face of insufficient evidence—factors that contribute to the failure of business strategies. The Strategy Institute defines a business strategy as “a master plan that outlines the direction the organisation intends to take, the actions it will undertake, and the resources it will allocate to attain certain competitive advantages and drive sustainable growth.” Despite the clarity and intention behind such strategic planning, real-world outcomes often fall short of expectations.
Why Do Some Business Strategies Fail? Read More »
The United Arab Emirates (UAE) attracts entrepreneurs and businesses from around the globe. Renowned for its dynamic economy and strategic location, the UAE has become a hub for various industries, offering unparalleled opportunities for those looking to establish and expand their ventures. In this blog, we delve into the flourishing sectors within the UAE and shed light on the most thriving businesses to set up, each contributing to the nation’s economic success.
The Top Fast-Growing Sectors in the UAE and Their Business Opportunities Read More »
With its entrepreneur-friendly laws and regulations as well as government incentives, Dubai has created an enticing ecosystem for the establishment businesses, attracting entrepreneurial talents worldwide. The UAE’s “Fifty Economic Plan”, for example, outlines a visionary framework for economic growth. With a strategic government initiative, spanning from 2021 to 2030, that aligns with the interests of business owners and entrepreneurs, many have set their sights on setting up a business in the UAE. In this blog post we will explore the steps it takes to start a business in the most popular of the seven emirates: Dubai. We also delve into the challenges one can face during this process and their possible solutions.
Steps, Challenges, and Solutions to Starting a Business in Dubai Read More »
