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Over 27,800 new member companies join Dubai Chamber of Commerce in 2021

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Over 27,800 new member companies joined the Dubai Chamber of Commerce in 2021, a 66.8 per cent increase compared to 2020. This brings the organisation’s total membership to over 287,000.

In 2021, the Dubai Chamber of Commerce saw the return on investment of its digital transformation over the years. The Chamber processed more than 704,400 e-transactions during the year. It also succeeded in fully digitising its core services by 100 per cent, which enabled it to serve its members and customers remotely and efficiently.

The Chamber also achieved its goal of becoming 100 per cent paperless by the end of 2021, representing an important milestone in its digital transformation mission.

The value of exports and re-exports of Dubai Chamber of Commerce members amounted to Dh227 billion, and a total of 669,922 certificates of origin were issued by the organisation last year. Meanwhile, 4,495 ATA Carnets worth Dh4.5 billion were issued and received by the Chamber. The ATA Carnet system is managed by the Dubai Chamber of Commerce in cooperation with Dubai Customs, facilitating the temporary entry of imports to Dubai.

Dubai Chamber reviewed 52 draft local and federal laws and ministerial decisions during 2021 to ensure a favourable business environment. The organisation’s Legal Services department received 200 mediation cases, of which 175 were virtual mediation cases, while 66 cases were settled amicably.

Dubai Chamber continued exploring business opportunities in promising markets worldwide as it received 2,983 visiting delegations and met with over 6,800 delegates from 73 countries in 2021. A total of 85 business networking events were organised, attended by 15,000 businesspeople.

The Chamber’s 11 representative offices in Africa, Eurasia and Latin America held 2,398 virtual meetings with more than 4,052 investors interested in expanding its business network and activities to Dubai.

The Chamber’s external offices organised 39 virtual events, attended by 4,280 participants from around the world, and participated in 347 other events to promote Dubai as a global business hub, identify business opportunities, and build relationships with key stakeholders in promising markets.

Abdul Aziz Al Ghurair, chairman of Dubai Chambers, described 2021 as “an exceptional year for the business community in Dubai”.

He noted that the government’s effective measures and proactive policies put the emirate on a steady path of economic growth, with the biggest uptick in business activity felt within the tourism, hospitality, trade and retail sectors.

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Norway Chess 2026 opens with chaos, comebacks and surprise results

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The opening round of Norway Chess 2026 delivered high drama, surprise results and intense Armageddon battles as some of the world’s biggest chess stars clashed in Oslo.

The biggest shock of the day came when Alireza Firouzja defeated World No 1 Magnus Carlsen in classical play, handing the hometown hero a painful opening-round loss.

Carlsen appeared in control for much of the encounter, but severe time pressure proved costly. A late mistake allowed Firouzja to seize the initiative and convert his advantage with precision, giving the French grandmaster the only classical win in the men’s tournament and the early lead in the standings.

Indian star Praggnanandhaa Rameshbabu battled Wesley So to a balanced classical draw before dominating the Armageddon tiebreak with aggressive attacking play to secure extra points.

Meanwhile, reigning World Champion Gukesh Dommaraju survived a difficult endgame against German grandmaster Vincent Keymer. Keymer held a near-winning position for large parts of the game, but Gukesh produced stubborn defensive resistance to force a draw before bouncing back to win the decider.

The women’s tournament also opened with a major upset as Bibisara Assaubayeva defeated Indian No. 1 Humpy Koneru in classical chess. Assaubayeva handled the middlegame complications confidently and converted her advantage smoothly to emerge as the early tournament leader.

Anna Muzychuk and Zhu Jiner played out a tense classical draw before Zhu claimed victory in Armageddon.

In another closely watched matchup, Women’s World Champion Ju Wenjun pressed hard for victory against rising Indian talent Divya Deshmukh, but the classical game ended level. Divya then impressed in the Armageddon playoff, securing a memorable tiebreak victory.

Held from May 25 to June 5 in Oslo, Norway Chess 2026 features two elite six-player tournaments running simultaneously, Norway Chess and Norway Chess Women, both using a double round-robin format with equal prize funds.

One of the tournament’s unique features remains its Armageddon system, where drawn classical games are immediately followed by a tiebreak game to ensure every round produces a winner.

After an explosive first day filled with upsets, comebacks and fighting chess, the tournament has already set the stage for a thrilling edition in Oslo.

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UAE waives Dh834 million in debt interest for low-income retirees

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In a major humanitarian initiative announced ahead of Eid Al Adha, the UAE has approved the cancellation of accumulated interest and profit charges on loans owed by low-income retirees across the country.

The financial relief package, launched under the directives of UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and closely followed by Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, and Chairman of the Presidential Court, is being implemented by the Defaulted Debts Settlement Fund in partnership with several UAE banks. 

Valued at more than Dh834 million, the initiative is designed to ease financial pressures on 2,339 senior citizens while strengthening social stability and supporting family wellbeing across the country.

The initiative specifically targets Emirati retirees aged 50 and above who fall within limited-income categories.

Under the mechanism announced, participating banks will waive future interest and profit charges on outstanding loans while beneficiaries continue repaying only the original loan amount through flexible payment schedules.

Among the banks contributing to the initiative, Abu Dhabi Commercial Bank Group accounted for the largest share at Dh655 million, followed by First Abu Dhabi Bank with Dh150 million. Abu Dhabi Islamic Bank contributed Dh18.5 million, while Emirates NBD Group and Emirates Islamic Bank jointly provided Dh6.7 million.

Other participating institutions included Dubai Islamic Bank with Dh2.3 million, Commercial Bank of Dubai with Dh792,000, Sharjah Islamic Bank with Dh716,000 and the National Bank of Ras Al Khaimah with Dh566,000.

Officials confirmed that beneficiaries will be contacted directly by participating banks and financial institutions regarding the implementation process and revised repayment arrangements.

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Here’s when Eid Al Adha prayers will begin across the UAE

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Mosques and Eid prayer grounds across the UAE are preparing to welcome thousands of worshippers as expected. Eid Al Adha prayer timings have been revealed across the country.

According to preliminary astronomical calculations, Eid prayers are likely to begin between 5:39am and 5:50am on the first morning of Eid Al Adha, following the traditional Islamic practice of holding prayers shortly after sunrise.

Abu Dhabi is expected to hold Eid prayers at around 5:50am, while worshippers in Dubai and Al Ain are anticipated to gather at 5:45am. Prayer timings in Sharjah and Umm Al Quwain are expected at 5:43am, Fujairah at 5:41am, Ras Al Khaimah at 5:40am and Ajman at approximately 5:39am.

Authorities have completed preparations at hundreds of mosques and open-air prayer grounds across the Emirates to accommodate the large crowds expected during the holiday.

Abu Dhabi timings

In Abu Dhabi, some of the main Eid prayer venues include Musalla Al Mushrif, Bani Yas Musalla, Mohammed bin Zayed City Musalla and the iconic Sheikh Zayed Grand Mosque.

Dubai will also host large congregations at several designated prayer grounds, including Nad Al Hamar Musalla, Al Warqa Musalla, Jumeirah Musalla and Sheikh Rashid bin Saeed Mosque in Zabeel.

Meanwhile, Sharjah authorities have identified major Eid prayer locations such as Al Badee Musalla, Al Gharb district Musalla and Al Khan Musalla, along with prayer sites on Abu Musa Island.

Worshippers observe several Sunnah traditions before attending the Eid prayers. These include bathing, wearing clean or new clothes, reciting takbeer while travelling to prayer grounds and delaying meals until after prayers and sacrificial rituals are completed.

Authorities across the UAE have stepped up preparations for the festive period, increasing services at mosques, public parks, shopping areas and recreational facilities ahead of the holiday rush.

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