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Tuesday, June 22, 2021

DIFC Investments in Dubai 74 percent drop in profit

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DIFC Investments, constrained by Dubai’s tax-exempt business hub, posted a 74 percent drop in profit.

Entire year profit net gain tumbled to $31m from $118m per year prior, while income declined around 8% to $186m.

The Dubai International Financial Center (DIFC) a year ago gave help measures to help substances working at the business hub to adapt to the Covid pandemic. It remembered decrease for application charges, waiver of enlistment expenses, and temporary help from capital prerequisites.

The DIFC is home to the territorial workplaces of banks including Citigroup, Goldman Sachs Group and Morgan Stanley.

The quantity of new firms working in the DIFC grew 20% a year ago, taking the all out to 2,919, it said on Tuesday.

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