15 May 2008 05:05:46
Second low emission project planned for Dubai
The authorities in Dubai are planning their second low carbon emission development project.
It will once more be staged at the Dubai International Financial Centre (DIFC).
The DIFC was conceived by the government of Dubai as a regional capital market that will hopefully benefit the whole of the United Arab Emirates.
It hopes to provide support to many businesses in the banking sector, capital markets, asset management and fund registration sector, and insurance and to Islamic finance and professional insurance providers.
Since the DIFCs opening in 2004, the 110-acre site has provided a home to many international businesses and projects, it also plays host to the Dubai international Financial Exchange, the DIFX.
Firms that operate in the DIFC do so with a number of benefits, these include a zero percent tax on all profits, 100 percent foreign ownership rights, no restrictions on foreign exchange or the repatriation of capital and round-the-clock operational support.