Today WAM carried an announcement that HH Shaykh Mohammed Bin Rashid Al Maktoum had issued "a decree exempting companies operating in Dubai from all fines imposed on them for not renewing their licences of practicing the profession on time".
The press release notes that: "The move is part of Sheikh Mohammed's sustained support for the business community in Dubai. It underlines his keenness to find effective alternatives and solutions to spur activities of businesses in a positive approach."
But ever the contrarian AA believes that if this is a significant enough problem that HH is getting involved then it must be fairly widespread.
And, if so, is that a sign of corporate distress? Or just that entities who are able to pay are refusing?
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