Potential investors value Telegram at $30bn, says co-founder Pavel Durov
MOSCOW, RUSSIA – The Telegram is valued by potential investors at more than US$30 billion, the co-founder of the social...Business Tech & Media
Supply chain challenges hit Ramadan retail rush
Logistical adaptations, strategic planning, and forecasting essential for addressing the unique demands of increased consumption during Ramadan, says Aramex's Tarek...Business
TAQA, ENGIE complete financial closing for UAE’s mega desalination plant
Dubai, UAE -- Abu Dhabi National Energy Company (TAQA) ENGIE, a global leader in low-carbon energy solutions, and Emirates Water...The AED2.3 billion ($620 million) low-carbon Mirfa 2 Reverse Osmosis (M2 RO) desalination project will be the UAE's third largest.
Expected to be operational in Q4 2025, the plant will be owned by TAQA, holding a 60 percent share and ENGIE taking a 40 percent.
AD Ports signs MoU with Abu Dhabi Residents’ Office to lure talent
Abu Dhabi, UAE--AD Ports Group has signed a memorandum of understanding (MoU) with Abu Dhabi Residents Office (ADRO) to promote...Both the entities will develop a strategy on guiding relevant parties and employees about the benefits of the Golden Visa residency program
The holders of Golden Visa will have access to exclusive offers and services, availabe across the different clusters and subsidiaries of AD Ports Group
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
Dubai holds trial of drone delivering medicine in public-private sector tie-up
Dubai, UAE--Dubai held the first trial of medical delivery by drones at the Dubai Silicon Oasis (DSO), in yet another...Fakeeh University Hospital, with the completion of the trial, becomes the first healthcare provider in the Middle East to leverage drone technology for medication delivery
The test was conducted within a 10-kilometre radius, carrying medication from the hospital to a patient's home in Cedre Villas project in Dubai Silicon Oasis
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.”
UAE government launches chatbot allowing users to access information on services
Dubai, UAE-- The UAE government has launched an AI-powered chatbot that allows users to access information about government services in...The chatbot deploying generative AI technology will let users to access information about services, including service requirements, and direct links for applications
Designed to address a wide range of inquiries and requests, the platform will provide comprehensive answers, including basic information and ways to apply for services
Luxury car market rides on sustainability
A shift in consumer preferences -- with a substantial percentage of sales coming from smaller and midsize vehicles -- hasn't...A shift in consumer preferences -- with a substantial percentage of sales coming from smaller and midsize vehicles -- hasn't dented the appeal of luxury cars, says an expert
Audi is working on new technologies, including digitization of production processes, AI, and robotics, to optimize output, adds Peter White, Sales Director at Audi Middle East
Nvidia crosses $1trn in market value on Wall Street
Chip company Nvidia exceeded $1 trillion in market value as Wall Street stocks mostly rose, following an agreement between President...Nvidia jumped more than seven percent on bullish sentiment over its role in artificial intelligence breakthrough technology.
Most large tech companies advanced early Tuesday, with shares of Facebook parent Meta and Apple both up more than one percent.
DIFC forum to focus on optimizing treasury operations
Dubai, UAE - Standard Chartered will partner with the Dubai International Financial Centre (DIFC) in hosting the DIFC Treasury Leadership...The DIFC Treasury Leadership Forum will showcase the latest trends in treasury solutions designed to streamline financial operations.
Organized by DIFC, the forum will bring together senior treasurers from leading banks, multinationals and services providers.
PIF-owned SRC completes $933m sukuk
The issue is part of the SAR 20 billion local sukuk program.The PIF established the Saudi Real Estate Refinance Company in 2017 for the growth and sustainability of residential real estate financing in the kingdom.
This was the sixth tranche within the program denominated in Saudi riyals and supported by government guarantees.
