Dubai is the most populous city in the United Arab Emirates (UAE). It is located on the southeast coast of the Persian Gulf and is one of the seven emirates that make up the country. Abu Dhabi and Dubai are the only two emirates to have veto power over critical matters of national importance in the country's legislature. It is located on the emirate's northern coastline and heads up the Dubai-Sharjah-Ajman metropolitan area. Dubai has emerged as a global city and business hub of the Middle East. It is also a major transport hub for passengers and cargo. By the 1960s, Dubai's economy was based on revenues from trade and oil exploration concessions.