UAE’s satellite, developed by Emirati engineers, launched from California to aid disaster relief and earth observation
With cutting-edge features like high-resolution imaging and electric jet propulsion, MBZ-SAT will enhance environmental surveillance, disaster management, and infrastructure monitoring,...
Science
UAE’s tech industry set to achieve record growth in 2025
Abu Dhabi, UAE - The UAE’s technology industry is set to achieve record growth in 2025, driven by significant expansion...
Economy
Saudi astronauts successfully complete space trip
The spacecraft successfully landed in the Atlantic Ocean, marking the Kingdom's entry into the league of a small number of...
- The spacecraft successfully landed in the Atlantic Ocean, marking the Kingdom's entry into the league of a small number of countries conducting space science missions
- The mission achieved the Kingdom's ambition to contribute to scientific research, to benefit from the promising opportunities offered by the global space sector and its industries
Business
Palm Jumeirah penthouse sells for a staggering $60m
Dubai, UAE - A shell-and-core mega penthouse in Palm Jumeirah was sold for AED 220 million ($60 million) by Honey...
- The penthouse sold is on the topmost floor of AVA at Palm Jumeirah, Dorchester Collection, spanning a built-up area of 33,406 sq ft
- It also has a four-floor 200m indoor garden and a roof terrace with 360-degree views, making it the perfect spot for relaxing
Economy
UAE Corporate Tax: Ministry of Finance issues three new rules
Abu Dhabi, UAE: The UAE on Tuesday issued three new decisions to further smoothen implementation of the Corporate Tax in...
- These include updated regulations for unincorporated partnerships, interest caps, and tax grouping
- The new decisions are an attempt to ensure that “the UAE's corporate tax regime maintains flexibility.”
Business
Dubai events generated $3.53 bn economic output in 2022
Dubai, UAE - The total economic output generated by 63 large-scale events hosted at Dubai World Trade Centre (DWTC) reached...
- A substantial $2.01 billion (AED 7.4 billion) was retained within the local economy, showcasing the venue's strong contribution to Dubai's GDP
- The events organized at DWTC attracted nearly 1.2 million attendees, with 40 percent of them coming from international locations
Business
Falcon 40B, UAE’s open-source AI model ranks No 1 on Hugging Face’s Leaderboard
Abu Dhabi, UAE - Falcon 40B, the UAE’s first large-scale open-source, 40-billion-parameter AI model launched by Abu Dhabi’s Technology Innovation...
- Falcon 40B managed to beat back established models such as LLaMA from Meta (including its 65B model), StableLM from Stability AI, and RedPajama from Together
- Hugging Face’s Open LLM Leaderboard is an objective tool open to the AI community that tracks, ranks, and evaluates LLMs and chatbots as they are launched
Business
Holiday homes in Dubai to get ‘QR Code’ to improve transparency
Dubai, UAE - Dubai on Monday launched a new QR Code initiative for holiday homes, as part of efforts to...
- As part of the initiative, owners of Holiday Homes will now be required to display a QR code on the main entrances of their vacation properties in Dubai
- This code enables visitors and guests to conveniently scan it and access essential information about the operator of the Holiday Home
Business
QCC, Setup in Abu Dhabi partner to strengthen SMEs export capability
ABU DHABI, UAE - Abu Dhabi Quality Conformity Council (QCC) has joined Setup in Abu Dhabi, a comprehensive SME enabling...
- The partnership will strengthen SMEs exporting capabilities by benefiting from in-depth consulting which is backed by research and expertise.
- Setup in Abu Dhabi was launched by Creative Zone in 2022 with Abu Dhabi Department of Economic Development, other government and private entities.
Business
UAE-India Business Forum discusses investment opportunities
SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) has embarked on a landmark trade mission to India,...
- The UAE-India Business Forum brought together key business leaders, government officials and industry experts from both Sharjah and Mumbai.
- The trade mission's first leg commenced with the highly successful UAE-India Business Forum held in Mumbai, India's bustling commercial capital.
Economy
UAE Corporate Tax: All you need to know
The UAE aims to attract more businesses and investments by having a competitive Corporate Tax system that follows international standards...
- The UAE aims to attract more businesses and investments by having a competitive Corporate Tax system that follows international standards and a network of double tax treaties
- Four of the GCC's six member states have corporate tax systems, ranging from 10 percent in Qatar to 15 percent in Kuwait and Oman to 20 percent in Saudi Arabia.
Business
UAE Banks’ Q1 2023 profit surges by 35% to $5 bn: Alvarez & Marsal
Dubai, UAE - UAE banks experienced a significant surge in profitability during the first quarter of 2023, according to the...
- In Q1'23, customer deposits witnessed a remarkable growth rate of 43.5 percent, surpassing the growth of loans and advances
- Net interest income (NII) witnessed a slight uptick of 0.4 percent QoQ, and the overall net interest margins (NIMs) remained stable at 2.8 percent
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UAE’s satellite, developed by Emirati engineers, launched from California to aid disaster relief and earth observation
With cutting-edge features like high-resolution imaging and electric jet propulsion, MBZ-SAT will enhance environmental surveillance, disaster management, and infrastructure monitoring,...
Science
Company News
Latest News
Two million people may die in Gaza without world’s help: Turkish foreign minister
Ankara, Turkey - Turkish Foreign Minister Hakan Fidan on Monday expressed serious apprehensions about the escalating situation in the Gaza...
Geostrategy
Saudi Journalists Association poll: Women, visionaries lead the way
Nearly half of the newly elected board members were women, a first in the 21-year history of this prominent media...
Arts & Culture
Royal Commission for AlUla chief held for abuse of power, money laundering: report
Riyadh, Saudi Arabia - The CEO of the Royal Commission for AlUla, Eng. Amr Al-Madani, has been arrested on charges...
Economy
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Business
Dubai RTA awards US$95m contract to upgrade ticketing system
DUBAI, UAE - Dubai’s Roads and Transport Authority (RTA) has awarded a contract to upgrade the existing nol (card-based ticketing...
- The aim is upgrade the existing card-based ticketing system to an account based ticketing system, aligning with the top global practices.
- It seeks to develop a flexible and 100 percent scalable digital infrastructure, ensuring 100 percent fintech integration in mobility solutions.
Geostrategy
Skipper Battat leads Palestine on and off pitch at Asian Cup
Doha, Qatar - Musab Al-Battat has led Palestine on the pitch with his all-action performances and off it as the voice...
- The 30-year-old captain will be the man his team look to once again for inspiration when Palestine face hosts and reigning champions Qatar in a daunting last-16 tie.
- The side ranked 99 in the world have progressed into the next round despite a deeply troubled build-up overshadowed by the Israel-Hamas war
Business
Oman’s MSX-listed banks see 18.6 percent net profit growth in 2023
MUSCAT, OMAN - Omani banks listed on the Muscat Stock Exchange (MSX) recorded net profits of US$1.17 billion (RO453.5 million)...
- The banking sector benefited from economic growth, foreign trade, investment, government revenues.
- The preliminary financial results showed that all seven banks listed on MSX posted higher profits.