Abu Dhabi new business licenses rise 21% in first quarter, ADRA says
New economic licences issued in Abu Dhabi rose 21% in the first quarter of 2026 from a year earlier, reflecting...
Business
Abu Dhabi climbs global startup rankings on AI and tech growth
The emirate was ranked in the #41-50 category globally, improving from the #51-60 range a year earlier and marking one...
Business
Business
Dubai World Trade Centre to host Japan trade exhibition next week
Dubai, UAE--The first edition of the Japan Kyoto Trade Exhibition 2024 is all set to kick off this Monday, 22nd...
- The event is expected to attract around 20,000 visitors, and more than 100 Japanese exhibitors
- The exhibitors will represent a diverse range of industrial sectors, like technology and animation
World Economic Forum
Middle East needs strong Saudi Arabia, says kingdom’s finance minister
Dubai, UAE-- Saudi Arabia's Finance Minister Mohammed Al-Jadaan said the Middle East needs a strong Saudi Arabia to contribute and...
- The World Economic Forum meeting in Saudi Arabia will address economic issues, international cooperation and global challenges
- The kingdom's finance minister said the region requires a strong Saudi Arabia to contribute and that future outlook looks positive
Business
UAE firms face AI-driven data management hurdles
In a rapidly evolving digital landscape, 91% UAE business leaders are facing critical challenges in aligning data strategies with their...
- In a rapidly evolving digital landscape, 91% UAE business leaders are facing critical challenges in aligning data strategies with their business goals, says a latest report.
- Only 44% of UAE businesses are confident in their data's accuracy, leading to increased investment in data training and governance to address these concerns, it adds.
Business
Sharjah Islamic Bank profit surges
It posted a 31% jump in net profit to US$229.13m in 2023.
- The bank's operating profits also recorded a 23 percent rise, reaching $554 million for 2023, up from $435 million in 2022
- Its board of directors has proposed a 10 percent cash dividend, subject to approval at the upcoming general assembly meeting
Economy
Saudi Arabia to host WEF special meeting in April
Davos, Switzerland — Saudi Arabia will host a special meeting of the World Economic Forum (WEF) in Riyadh this April, Saudi...
- Speaking at the panel 'Saudi Arabia: The Course Ahead', Saudi minister Faisal Al Ibrahim said the event will focus on global collaborations
- He underlined Riyadh's emerging role as a hub for various sectors and as a center for global thought leadership.
Business
IEA says oil production to rise but demand to be halved in 2024
Paris, France - World oil supply will continue to rise this year, the International Energy Agency said on Thursday, as it...
- Much of the slowing demand has mirrored falling demand for post-pandemic travel demand in China, which drives much of the world's oil demand growth.
- IEA added the world's oil supply will continue to grow due to "record-setting output" from the United States, Brazil, Guyana and Canada.
Business
UAE ranks first in Arab world in labor-resilient countries, says report
Dubai, UAE -Â Against the backdrop of the World Economic Forum in Davos, Whiteshield announces the release of the Global Labor...
- As the world confronts the challenges of global warming and the transition to a sustainable future, the impact on labor markets looms large.
- The direct consequences of climate change, including displacement, migration, and fluctuations have become increasingly pervasive.
Business
Akasa Air orders 150 Boeing planes
Akasa Air will buy 737 MAX planes, which no Indian airline uses.
- Akasa Air chief said the 'historic' order would put the firm on the path to "becoming one of the top 30 leading airlines in the world"
- Akasa has been a strong Boeing backer, having ordered 72 aircraft in 2021, and another four in 2023
Business
Demand for lifestyle experiences in GCC has increased: SHG CEO
Dubai, UAE -- Sunset Hospitality Group (SHG) is more than just a collection of hotels, restaurants, and beach clubs. Renowned...
- Antonio Gonzalez, CEO of Sunset Hospitality Group said that Dubai remains a key area of focus for the Group.
- The Group will now be entering Portugal over the next two months, its most recent market addition.
Business
Google CEO says more layoffs are likely this year
SAN FRANCISCO, US - Google CEO Sundar Pichai has warned employees that more layoffs are in store at the search engine...
- Google laid off around 12,000 people this time last year, about six percent of its workforce, in the face of inflation and rising interest rates.
- The company confirmed it is eliminating "a few hundred" positions from its global ad team, amid a push to use AI for efficiency and creativity.
Abu Dhabi new business licenses rise 21% in first quarter, ADRA says
New economic licences issued in Abu Dhabi rose 21% in the first quarter of 2026 from a year earlier, reflecting...
Business
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TikTok’s US future uncertain
Business
Eight-country coalition aims to tax luxury air travel
Seville, Spain -- Countries including France, Kenya, Barbados and Spain on Monday launched a coalition to push for taxes on...
Business
Meta’s AI talent war raises questions about strategy
New York, United States -- Mark Zuckerberg and Meta are spending billions to recruit top artificial intelligence talent, triggering debates...
Business
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Business
Trump metal tariffs wreak havoc on US factory
Belcamp, United States --Â In the sweltering US summer, metal containers decorated with snowmen and sleighs are taking shape --...
- At Independent Can's factory in Belcamp, Maryland northeast of Baltimore, CEO Rick Huether recounts how he started working at his family's business at age 14.
- Huether, now 73, says he is determined to keep his manufacturing company afloat for generations to come. But Trump's tariffs are complicating this task.
Business
Indonesia begins $5.9 bn EV battery project despite environment fears
Jakarta, Indonesia -- Indonesia broke ground Sunday on a $5.9 billion megaproject for EV battery production backed by Chinese giant...
- Indonesia is the world's largest nickel producer and it is trying to capitalize on its vast reserves.
- The EV battery project will include a $4.7 billion investment on the eastern island of Halmahera and a $1.2 billion investment in West Java.
Business
China’s Xiaomi receives almost 300,000 SUV pre-orders in minutes
Beijing, China -- Chinese electric vehicle maker Xiaomi received almost 300,000 pre-orders within an hour for its first sport utility...
- Xiaomi's Hong Kong-listed shares soared eight percent at one point before paring their gains but ending at a record high.
- The Beijing-based commercial tech giant made its first foray into car-making with its SU7 EV model last year, part of a broader industry push to boost domestic consumption.