Dubai cancels corporate fines in fresh effort to boost business | Reuters:
"Dubai is exempting companies from administrative fines in a fresh effort to stimulate business, which has been dampened by new taxes and slumping asset markets. A decree by Dubai ruler Sheikh Mohammed bin Rashid al-Maktoum cancels fines imposed by the Department of Economic Development through the end of 2018, the DED said on Tuesday. It levies over 60 different fines for commercial violations, some worth thousands of dollars. “This decree is a positive step in promoting economic growth and consolidating Dubai’s position as one of the important commercial and economic centres internationally,” said Omar Bushahab, head of the DED’s business registration section."
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