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Cayman National (Dubai) Ltd

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Cayman National (Dubai) Ltd

Overview:

Dubai is one of the seven emirates comprising the United Arab Emirates (UAE), and the most populous city of the federation. It is located along the southern coast of the Persian Gulf on the Arabian Peninsula. The municipality of Dubai is sometimes called Dubai city to distinguish it from the emirate. The city has a population of approximately 970,000 people, a large proportion of which are expatriates and, according to the Dubai Development and Investment Authority; the population is expected to reach 1.4 million by 2010.

Dubai has been ruled by the Al Maktoum dynasty since 1833. Dubai's current ruler, Mohammed bin Rashid Al Maktoum, is also the Prime Minister and Vice President of the UAE.

Dubai’s economy was built on the back of the oil industry, which developed rapidly after oil was first struck in the mid 1960s. Since then Dubai has developed a diverse economy and the oil sector now accounts for around 6% of Dubai’s GDP. The government of Dubai is committed to liberal, free market policies and to the creation of a business environment conducive to commercial activity. The city now has thriving manufacturing, finance, information technology and tourism sectors and is home to numerous multinational companies such as AT&T, General Motors, Heinz, IBM, Shell, and Sony.

Dubai shares legal, political, military and economic functions with the other emirates within a federal framework, although each emirate has jurisdiction over some functions such as civic law enforcement and provision and upkeep of local facilities. Dubai has the largest population and is the second largest emirate by area, after Abu Dhabi.

The city has a sub-tropical climate with mild temperate winters and very hot summers. There is very little rainfall, even in the winter months.

The UAE became a member of the United Nations and the Arab League in 1971. It is a member of the International Monetary Fund, the Organisation of Petroleum Exporting Countries (OPEC), World Trade Organisation and other international and Arab organisations, including the Arab Gulf Co-operation Council (AGCC), whose other members are Saudi Arabia, Oman, Qatar, Bahrain and Kuwait. In its foreign relations, the UAE's stance is one of non-alignment but it is committed to the support of Arab unity.

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