Get the latest news from RT on Dubai, which is the largest and most populous city in the United Arab Emirates. Dubai is the capital of one of the seven UAE emirates – the Emirate of Dubai. It is a financial and business center of the Middle East, as since the discovery of oil in 1966, Dubai’s oil income accelerated the early development of the city. Find news and details about the development of Dubai and oil reserves there. Nowadays, Dubai’s profit from oil production is limited to 5 percent, and the economy is based on tourism, real estate, aviation, and so on. Dubai is one of the most expensive and luxurious cities in the world. Visit RT.com for economy, finance, and markets in Dubai and the UAE.