Commercial transport sector added $4.38bn to Dubai economy, says RTA
DUBAI, UAE - Commercial transport sector contributed AED16.1 billion ($4.38bn) to Dubai's economy in 2022, said Mattar Al Tayer, Director-General,...
Economy
Louvre Abu Dhabi displays new collection of artworks from across the world
ABU DHABI, UAE – The Louvre Abu Dhabi has displayed new acquisitions including three artworks by Pablo Picasso alongside loans...
Arts & Culture
Business
BitOasis to be registered in GoAML
BitOasis offers over 15 digital assets to trade against the dirham.
- The Executive Office of Anti-Money Laundering and Counter Terrorism Financing — or AML/CTF — has welcomed the confirmation
- The registration is expected to help add yet another layer of security for both fintech startups and the national economy
Science
UAE, Egypt explore prospects of greater space cooperation
The two sides also discussed facilitating new growth partnerships between the public and private sector.
- The meeting explored the potential for greater collaboration in all space-related fields between the two countries
- The two parties also looked at opportunities to strengthen ties across science, technology, engineering, and mathematics
Business
PwC Middle East to hire 6,000 staff in five years
PricewaterhouseCoopers (PwC) Middle East intends to build its largest headquarters in Riyadh, and hire more than 6,000 staff across the...
- PwC predicts its Saudi HQ will attract other global firms to the Kingdom
- Location will be decided in the next two years
Economy
UAE Central Bank to do away with Covid stimulus measures
The Central Bank of the United Arab Emirates has decided to gradually do away with all the stimulus measures introduced...
- To leave lower reserve requirements for banks unchanged
- The liquidity in the banking system and banks’ capital buffers remained adequate
Business
EDB, Emirates NBD sign MoU to guarantee credit for SMEs
The program will focus on sectors such as manufacturing, healthcare, infrastructure, food security, and technology.
- As part of the MoU, EDB will give financing guarantee coverage of up to 50 percent of the amount lent to SME customers by Emirates NBD
- This will be a maximum of AED5 million (around $1.36 million) for larger SMEs and up to AED500,000 (around $136,000) for smaller customers
Business
UAE, China discuss strategic ties, common concerns
The two countries also reviewed bilateral partnership and cooperation in confronting the Covid-19 pandemic.
- Sheikh Abdullah bin Zayed Al Nahyan, the Minister of Foreign Affairs and International Cooperation attended the discussions for the UAE
- He spoke on the phone with Wang Yi, State Councilor and Foreign Minister of China
Business
Innovation, partnerships put Dubai at forefront of financial markets: Analysis
DUBAI: Innovative initiatives and partnerships along with a series of regulatory reforms have placed the financial markets industry in Dubai...
- Dubai Competitiveness Office cited DIFC's example, which was ranked amongst the top 15 global financial centers consistently.
- Financial market ecosystem in the emirate is well-positioned to enable capital flows.
Business
Saudi Arabia reaches out to France for stronger economic ties
The move aims to further enhance bilateral investment relations by making use of the opportunities offered by Saudi Vision 2030.
- The Minister of Investment of Saudi Arabia, Khalid bin Abdulaziz Al-Falih, is on an official visit to France
- He is accompanied by a high-level Saudi delegation from government agencies, national companies, and representatives of the private sector
Business
MDC BMS to utilize MoniMove platform in partnership with Crediti Fintech
DUBAI: MDC Business Management Services (MDC BMS), a Mubadala company, will partner with Crediti Fintech to utilize the MoniMove platform...
- With the platform, MDC BMS will examine how to seamlessly digitize and govern clients’ supply chain transactions.
- Suppliers are likely to benefit from supply chain finance services, advanced digital delivery tracking and live site inspection tools.
Business
Saudi telecom firm stc gets higher rating from Moody’s for ‘strong financial metrics’
Moody’s, the bond credit rating firm, has upgraded the Baseline Credit Assessment (BCA) of Saudi Arabia’s stc, saying it has...
- The telecom company’s BCA was revised from a1 to a2, and Moody’s also affirmed its A1 long-term issuer rating
- 'The upgrade reflects stc's leading position in the Saudi telecom sector, which has considerable growth opportunities'
Commercial transport sector added $4.38bn to Dubai economy, says RTA
DUBAI, UAE - Commercial transport sector contributed AED16.1 billion ($4.38bn) to Dubai's economy in 2022, said Mattar Al Tayer, Director-General,...
Economy
Company News
ADNOC Logistics acquires Zakher
Business
Al Zamil buys tower for $133m
Business
Latest News
Al Seer targets 2-3m tons cargo
Business
High-level UAE economic delegation visits Georgia
A UAE economic delegation led by Minister of State Ahmed Ali Al Sayegh visited Tbilisi, Georgia.
Geostrategy
UAE’s TDRA becomes member of global body EFQM
UAE's Telecommunications and Digital Government Regulatory Authority (TDRA) has announced that it has become a member of the European Foundation...
Business
Most Read
Business
Dubai looks to raise $817m from IPO of Salik Company
Dubai is looking to raise $817 million in the initial public offering of Salik. It is selling 1.5 billion shares...
- All shares to be offered shall represent the sale of existing shares held by the Government of Dubai
- The CEO of Salik believes the growth of the city is in tandem with the growth of Salik, and this offering represents an exciting opportunity for investors
Geostrategy
GCC countries hail national reconciliation in Sri Lanka
Abdulmohsen bin Khuthaila in his speech on the sidelines of an official debate on human rights in Geneva, said that...
- Abdulmohsen bin Khuthaila in his speech on the sidelines of an official debate on human rights in Geneva, said that the GCC backs all open and effective dialogue in Sri Lanka
- Addressing the 51st session of the Human Rights Council, Khuthaila also stressed that enhancing human rights is a collective responsibility
Geostrategy
King Abdullah calls on UN, world to provide aid for refugees
King Abdullah of Jordan met with the UN High Commissioner for Refugees Filippo Grandi at Al-Husseiniya Palace to discuss how...
- King Abdullah addressed global food security, and the international community’s obligation toward nations hosting millions of refugees
- Grandi said the UN agency would continue to support the Kingdom’s efforts, and encourage the international community to assist host countries facing increasing economic challenges