GCC outward workers’ remittances reach $161 billion in 2025
Gulf Cooperation Council countries collectively recorded the world’s highest value of outward workers’ remittances in 2025, totaling approximately $161 billion,...
Business
Aldar, Arada sign $4bn Abu Dhabi development partnership
Dubai, UAE -- Aldar and Arada have agreed a strategic partnership covering development opportunities on Yas Island and at Seih...
Business
Business
Masar signs $82m land deal
Agreements signed with Abdulmohsin Al Rossais & Sons Group.
- The two boulevard-facing plots are located in Zone 2 of Masar Destination and cover a combined 4,947 square metres.
- Al-Inma Second Development Co. Ltd. is the SPV for Al-Inma Makkah Development Fund II, wholly owned by Masar.
DEWA completes $2.70 billion refinancing for Noor Energy 1
Dubai, UAE -- Dubai Electricity and Water Authority (DEWA) has completed a $2.70 billion refinancing of Noor Energy 1, the...
- DEWA says refinancing was completed ahead of target, generating savings while strengthening Noor Energy 1’s financial structure over its lifecycle.
- The 950-megawatt project combines concentrated solar power, parabolic trough and photovoltaic technologies with 15 hours of thermal storage capacity.
Business
Sharjah Islamic Bank raises $500 million through five-year Sukuk
Sharjah Islamic Bank (SIB) has issued $500 million of five-year Sukuk, attracting orders worth $1.3 billion, or 2.6 times the...
- The five-year Sukuk attracted orders worth $1.3 billion, equivalent to 2.6 times the issue size, amid strong investor demand.
- SIB priced the issuance at 5.85% final yield, representing a 105-basis-point spread over five-year U.S. Treasuries.
Business
UAE central bank bars Bank Melli Iran branches from Iran transactions
The violations included non-compliance with requirements and obligations under UAE legislation relating to combating money laundering, the financing of terrorism...
- The prohibition covers trade finance and fund transfers involving all Bank Melli Iran branches operating in the UAE.
- The CBUAE said it would continue to strengthen its supervisory framework and take measures to safeguard the soundness and integrity of the UAE financial system.
Business
SoftBank raises $11.1 billion through bonds for OpenAI
SoftBank Group has issued dollar- and euro-denominated bonds worth a combined $11.1 billion as it seeks funding to support its...
- An offering document showed on Thursday that SoftBank issued $1 billion of 3.5-year senior dollar notes, $4.5 billion of 5.5-year notes and $4.5 billion of 7.5-year notes.
- SoftBank also issued two €500 million tranches with maturities of four and six years, yielding 7.125% and 8%, respectively.
Business
Emerson to build new automation solutions service center in Qatar
Emerson, a global automation solutions company, said on Wednesday it plans to build a new solutions service center in Qatar's...
- The facility will include region's first certified in-country flow calibration lab, along with other automation technologies.
- The 3,500-square-meter facility adds to Emerson's existing manufacturing, service and distribution locations in Saudi Arabia and the United Arab Emirates.
Business
UAE sets 5.06 percent profit rate for retail T-Sukuk
The UAE Ministry of Finance set a 5.06% annual profit rate for its second five-year Sovereign Retail T-Sukuk issuance. Subscriptions...
- Subscriptions run through September 28, with allocation September 29 and issuance, refunds and settlement scheduled for September 30.
- The sukuk will trade on Nasdaq Dubai from October 1, extending retail investors' access to secondary-market liquidity.
Business
UAE tops Arab Digital Economy Index 2026
The UAE topped the Arab Digital Economy Index 2026, with the assessment highlighting regional gains in infrastructure, digital government and...
- The index identified persistent gaps in innovation, research and development, data economies and converting digital investment into productivity.
- Saudi Arabia, Bahrain, Qatar and Oman joined the UAE in the highest-performing group, while 11 countries develop digital foundations.
Business
Maldives and Eagle Hills sign terms for $12 billion waterfront destination
The project, known as Maldives Waterfront and Marina, is planned as an integrated tourism and residential destination combining hotels and...
- Properties will be offered under Maldivian law on leasehold terms of up to 99 years, restarting after transfer.
- Maldives Infrastructure, Housing and Urban Development Minister Abdulla Muththalib described the project as the country’s largest investment programme.
Business
PIF launches digital platform Tawrid for providing supply-chain financing
The Public Investment Fund (PIF) has announced the launch of Tawrid Company for Financing Solutions, an innovative digital platform providing...
- Tawrid has obtained the Saudi Central Bank’s (SAMA) permit to operate under the regulatory “Sandbox” environment, Argaam reported.
- Tawrid has started operations and has already signed binding agreements with local banks and companies.
GCC outward workers’ remittances reach $161 billion in 2025
Gulf Cooperation Council countries collectively recorded the world’s highest value of outward workers’ remittances in 2025, totaling approximately $161 billion,...
Business
Company News
Latest News
Musk kicks Kanye West off Twitter for ‘incitement to violence’
West has made a series of anti-Semitic comments recently, as the one-time titan of fashion and music appears to have...
Oman sees hospitality industry revenue fall 3.5%
The National Centre for Statistics and Information says domestic guest have supported the Oman's hotels.
Proof of Covid-19 vaccination, PCR test needed to enter Expo Dubai
Expo 2020 visitors will need a coronavirus vaccination or a negative PCR test to enter, organisers in Dubai has said....
Cyberattack hits hundreds of US businesses
A US IT company urges customers to shut down their servers after the attack UN Security Council members recently warned...
Saudi Arabia to generate $150 billion in investments from its new transport policy
The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private...
Masar signs $82m land deal
Business
Sharjah Islamic Bank raises $500 million through five-year Sukuk
Sharjah Islamic Bank (SIB) has issued $500 million of five-year Sukuk, attracting orders worth $1.3 billion, or 2.6 times the...
Business
UAE central bank bars Bank Melli Iran branches from Iran transactions
The violations included non-compliance with requirements and obligations under UAE legislation relating to combating money laundering, the financing of terrorism...
Business
SoftBank raises $11.1 billion through bonds for OpenAI
SoftBank Group has issued dollar- and euro-denominated bonds worth a combined $11.1 billion as it seeks funding to support its...
Business
Most Read
Business
UAE sets 5.06 percent profit rate for retail T-Sukuk
The UAE Ministry of Finance set a 5.06% annual profit rate for its second five-year Sovereign Retail T-Sukuk issuance. Subscriptions...
- Subscriptions run through September 28, with allocation September 29 and issuance, refunds and settlement scheduled for September 30.
- The sukuk will trade on Nasdaq Dubai from October 1, extending retail investors' access to secondary-market liquidity.
Business
UAE tops Arab Digital Economy Index 2026
The UAE topped the Arab Digital Economy Index 2026, with the assessment highlighting regional gains in infrastructure, digital government and...
- The index identified persistent gaps in innovation, research and development, data economies and converting digital investment into productivity.
- Saudi Arabia, Bahrain, Qatar and Oman joined the UAE in the highest-performing group, while 11 countries develop digital foundations.
Business
Maldives and Eagle Hills sign terms for $12 billion waterfront destination
The project, known as Maldives Waterfront and Marina, is planned as an integrated tourism and residential destination combining hotels and...
- Properties will be offered under Maldivian law on leasehold terms of up to 99 years, restarting after transfer.
- Maldives Infrastructure, Housing and Urban Development Minister Abdulla Muththalib described the project as the country’s largest investment programme.