Content creation key to awareness, culture, human development: Dubai ruler
Dubai, UAE -- Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, attended part of...
Business
Qatar’s non-energy private sector shows strong growth in 2024
Doha, Qatar – Qatar’s non-energy private sector recorded robust growth in the final months of 2024, according to the latest...
Economy
Business
TRENDS Poll: 36% believe GCC banks threatened by US, Europe banking crisis
Due to the GCC's strong linkages with the global banking system, concerns have risen that the banks in the region...
- The poll question asked: Are GCC banks under threat from the banking crisis in the United States and Western Europe?
- Due to the GCC's strong linkages with the global banking system, concerns have risen if the banks in the region will face the same struggles
Business
Mubadala invested $29 billion in 2022 in sectors that shape future
Abu Dhabi, UAE - Mubadala Investment Company invested AED 107 billion ($29 billion) in sectors that shape the future, including...
- The company participated in deals in the healthcare sector, investing in Envirotainer, a cold chain solutions provider for the pharmaceutical industry
- In the renewable energy sector, Mubadala invested USD 525 million with India’s BlackRock Real Assets in Tata Power Renewables
Business
Digital banking services use in UAE is now 100%: Bank federation chief
Dubai, UAE – UAE Banks Federation (UBF), the representative of UAE banks, revealed on Friday that the rate of digital...
- UAE ranks second globally in terms of customer confidence in banks at 84% in 2022, according to the annual index of the UAE Banks Federation
- UAE leadership in digital banking is underpinned by the adoption of the Digital Transformation Strategy by the Central Bank of the UAE in 2022
Geostrategy
Ajman Chamber, Belgium Embassy discuss trade opportunities
AJMAN, UAE - Chairman of the Ajman Chamber of Commerce and Industry (ACCI) Abdullah Al Muwaiji discussed trade and investment...
- The meeting aimed to strengthen economic ties and promote Ajman as an attractive investment destination.
- The discussions focused on bilateral economic, trade investment relations, tourism, industry, trade, education, health.
Economy
Digital literacy to boost UAE’s tech, AI revolution
The goal is to create a prosperous digital economy, built upon a robust digital infrastructure and a regulatory and legislative...
- The goal is to create a prosperous digital economy, built upon a robust digital infrastructure and a regulatory and legislative framework, says UAE Minister of State for AI
- The UAE’s approach is multi-pronged, concentrating on skill development, nurturing digital competencies, encouraging innovation and cultivating entrepreneurship, he adds
Hyatt to develop tourist destinations in Saudi Arabia
Riyadh, Saudi Arabia - Saudi Arabia’s Tourism Development Fund (TDF) has announced the signing of a Memorandum of Understanding with...
- The destinations may include beach and urban hotels, as well as mountain, desert and farm retreats
- They will be developed under Hyatt’s existing trademarks, such as Alila Resorts, Park Hyatt, Grand Hyatt etc
Geostrategy
UAE discusses global economic challenges in EBRD meeting
SAMARKAND, UZBEKISTAN - The UAE, represented by the Ministry of Finance (MoF), participated in the 2023 Annual Meeting of the...
- Representatives of member states, private sector, the Board of Directors and the bank's management attended the meeting.
- The UAE said focus should be on enhancing regional, global integration, to facilitate trade, investment and closer economic cooperation.
Business
Masdar on way to become one of world’s largest renewable energy firms
ABU DHABI, UAE - Abu Dhabi Future Energy Company (Masdar) has announced that it has nearly doubled its clean energy...
- Masdar announced that it has nearly doubled its clean energy capacity and CO2 displacement in just two years.
- Masdar has invested, or has committed to invest, in projects globally with a combined value of more than US$30 billion.
Economy
UAE to showcase business opportunities at ‘Make it in the Emirates Forum’
Abu Dhabi, UAE -- The UAE has said that the second Make it in the Emirates Forum is an open...
- The second Make it in the Emirates Forum will showcase unique opportunities for entrepreneurship
- The forum will also present financing solutions designed to attract more industrial investments
Economy
9% corporate tax to be effective in UAE in two weeks
The move aims to foster compliance and business activity, with special exemptions for Free Zone transactions and small enterprises.
- Individuals can now be classified as a business if their income stream surpasses a specified amount, or if their held assets exceed a certain value
- UAE employees drawing income from a singular source or salary payment need not be concerned, as salaries will continue to remain exempt from income tax
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Content creation key to awareness, culture, human development: Dubai ruler
Dubai, UAE -- Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, attended part of...
Business
Company News
ENEC, CNNC sign MoU
Business
Latest News
Riyadh Season 2023 on track to outshine previous edition with over 15m visitors
Riyadh, Saudi Arabia - Riyadh Season 2023 is poised to surpass the record set in 2021, with over 15 million...
Arts & Culture
Emirates Islamic profit rises 71%
The Bank’s total income reached AED 1.2 billion ($326.69 million)
Business
Iran plays on color at fashion exhibition
The strict dress code for women has been the subject of heated debate since nationwide protests following the death in...
Most Read
Business
UAE MoD ink deals worth $517m in first two days of UMEX and SimTEX 2024
ABU DHABI, UAE - On the second day of the sixth edition of UMEX and SimTEX 2024, the accumulated value...
- The second day of the event witnessed announcement of five deals signed by the Tawazun Council.
- The total number of local contracts on the second day of UMEX and SimTEX 2024 reached five contracts.
Geostrategy
EU plans measures to protect sensitive technology from China
The European Union unveiled plans to strengthen the bloc's economic security including measures to protect sensitive technology from falling into...
- The fallout from the war in Ukraine hit Europe particularly hard, forcing the bloc to find alternative energy sources.
- Now, it wants to avoid a similar over-reliance on China, which dominates in green technology production and critical raw materials.
Business
Hub71-backed ABHI to set up global headquarters in Abu Dhabi
DUBAI, UAE - With support from the Abu Dhabi Investment Office (ADIO), Hub71-backed ABHI, an embedded finance platform founded in...
- ABHI is working with Abu Dhabi Investment Office as it scales up its operations to capture growth opportunities in emerging markets.
- ADIO provides a range of support to the FinTech company, including incentives and connections to the Abu Dhabi ecosystem.