Rechitta, an AI-powered communication tool, has been launched for Dubai's real estate sector. It aims to enhance speed, consistency, and transparency for developers, brokers, and buyers by providing real-time information and market insights, streamlining engagement and transactions.
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Parkin will phase out cash payments at Dubai parking meters from 1 June, the company announced. Nol card, app-based, and SMS payment options remain available as the emirate advances its cashless strategy.
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Sheikh Mohammed bin Rashid has signed a law governing antiquities and archaeological sites across all of Dubai's territories, including free zones and the DIFC. The Dubai Culture and Arts Authority will serve as the regulatory body overseeing all archaeological activity under the legislation.
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Amreen Iqbal, Founder and Creative Director of Piece of You, argues that gold's enduring relevance is neither nostalgic nor accidental. In a market shaped by inflation, debt, and geopolitical risk, it remains the one asset that does not depend on institutional trust to hold its value.
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Salik will apply a 5% VAT to toll gate usage fees and tag activation charges in Dubai from 1 June 2026. The company says collected tax will be remitted to the Federal Tax Authority under existing UAE legislation.
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Gold's safe-haven status is being tested by an oil-driven supply shock, causing its price to fall despite geopolitical tensions. Analysts explain this is due to rising inflation expectations, higher US Treasury yields, and a stronger dollar, which negatively impact non-yielding assets like gold. While gold historically performs well in financial crises, its performance falters during energy shocks when real yields rise and the dollar strengthens. Diversification across various assets and risk drivers is now advised over relying on a single safe haven.
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Kerala-based rug brand Neytt, known for its Met Gala carpets, is expanding into Dubai and the Middle East. The brand, which supplied carpets for COP28, aims to leverage its success in luxury interiors and international events to tap into Dubai's sophisticated design market, highlighting its commitment to craft, provenance, and storytelling.
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Dubai Airports is processing more than 3,600 Hajj pilgrims this season, accounting for nearly 59% of all UAE pilgrims. Departures run until 23 May, with returning pilgrims expected between 30 May and 2 June.
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