Over 70% report revenue surge in UAE from digital payments, Visa finds
Dubai, UAE - More than 70% of surveyed retailers in the UAE have experienced increased revenue and higher customer footfall since...Business
Lego net profit falls
Its net profit fell five percent to 13.1 billion kroner ($1.24bn).Company News Business
30 tech startups attracted to Dubai in Q1: Chamber of Digital Economy
Dubai, UAE -- A total of 30 startups were attracted to Dubai by the Dubai Chamber of Digital Economy in...The chamber has also launched a series of 10 interactive workshops for the private sector focusing on specific areas of the digital economy.
The chamber aims to attract 300 new digital startups in the coming years. As part of these efforts, the chamber will host the Expand North Star Summit in October.
UAE looks to deepen trade and investment ties with Vietnam
Hanoi, Vietnam-- With an eye on boosting trade and economic ties between the two countries, the UAE has formally begun...Al Zeyoudi's visit also marked the start of negotiations towards a Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Vietnam
The UAE minister also spoke at the UAE-Vietnam Business Forum, in addition to meeting with representatives of Vietnamese companies
Airline industry’s net profits to shoot up to US$9.8bn in 2023: IATA
Dubai, UAE-- Airline industry is expected to clock net profits in the region of $9.8 billion in 2023, which is...According to IATA, some 4.35 billion people are expected to travel in 2023, which is closing in on the 4.54 billion who flew in 2019 around the globe
The outlook for cargo volumes is upbeat too, expected to touch 57.8 million tonnes, which slipped below the 61.5 million tonnes carried in 2019
Foreign companies to pay Corporate Tax on immovable property income: UAE
Abu Dhabi, UAE - Foreign companies and other non-resident juridical persons will be subject to UAE Corporate Tax on income...The tax applies to both immovable property that is used in a business and the one that is held for investment purposes
Non-resident juridical persons with UAE immovable property will be subject to Corporate Tax on a net-income basis
National Bonds ups stake in Taaleem
With a 22% stake, it is now the biggest stakeholder in the firm.The raising of the stake in Taaleem represents the largest acquisition of its kind since its listing on the Dubai Financial Market in November 2022
National Bonds Company CEO said the upping of the stake highlights the company's commitment to supporting the education sector in the UAE
Air Arabia to double fleet
The plan will boost Abu Dhabi's tourism market.The airline CEO Adel Al Ali said that since tourism is one of the key pillars of the UAE economy, the doubling of fleet will support the current inbound tourism
He added that last year some 15.9 million travelers passed through Abu Dhabi, nearly a threefold increase in the number of visitors from 5.26 million in 2021
Apple launches spatial computer; takes VR world by storm
CUPERTINO, California: Apple on Monday unveiled Apple Vision Pro, a spatial computer that seamlessly blends digital content with the physical...Apple CEO Tim Cook says: “Today marks the beginning of a new era for computing."
The breakthrough design of Vision Pro features an ultra-high-resolution display system that packs 23 million pixels.
Turkish Airlines ponders buying 600 planes in two months
ISTANBUL, TURKEY - The chairman of Turkish Airlines said Monday that the company will make a final decision on plans for...The airline is in talks with US aircraft maker Boeing and its European rival Airbus to purchase 400 single-aisle planes along with 200 jumbo jets.
If the purchases involves firm orders, it would be the biggest in the history of civil aviation, beating the 470-plane order by Air India in February.
Twitter ‘chose confrontation’ over EU disinformation code
The European Commission announced May 27 that Twitter had decided to leave the code of practice, to which other major..."We believe this is a mistake of Twitter. Twitter has chosen the hard way. They chose confrontation," commissioner Vera Jourova said.
She said Twitter's compliance with the new Digital Services Act (DSA) entering force on August 25 "will be scrutinized... vigorously and urgently".
DMCC-Bybit partnership to boost adoption of crypto, Web3 in Dubai
Dubai, UAE -- Dubai Multi Commodities Centre (DMCC) Monday announced a partnership with Dubai-headquartered cryptocurrency exchange Bybit, in which the...Bybit will provide financial support totaling AED 500,000 for new crypto businesses looking to set up at the region’s community of Web3 and blockchain businesses – the DMCC Crypto.
The partnership will bring Bybit Services to Crypto Centre members. Bybit is the world’s third most visited crypto exchange with over 15 million users.
