Firms lag as AI-driven fraud surges: Study
The report, published by the Association of Certified Fraud Examiners and analytics firm SAS, highlights widening gaps between rapidly evolving...
Business
Geopolitics, risk aversion and crypto: Why this time may be different
Bitcoin has already endured five consecutive months of declines since reaching an all-time high of $126,500 in October 2025. February...
Opinion
Geostrategy
MoHRE asks over 12,000 private firms to meet Emiratization targets
DUBAI, UAE – The Ministry of Human Resources and Emiratization (MoHRE) has notified over 12,000 private companies with 20-49 workers...
- Companies with 20-49 workers will be required to hire one UAE national in 2024 and another one in 2025.
- This step is expected to create around 12,000 jobs annually for UAE nationals in 2024 and 2025 in various sectors.
Business
Abu Dhabi positioned in world’s fastest-growing economic corridor: Official
Abu Dhabi, UAE -- Dr. Karim El Solh, Co-Founder and Chief Executive Officer at Gulf Capital, said Thursday Abu Dhabi...
- He added that Abu Dhabi Finance Week took center stage, drawing policymakers, financial leaders, and investors worldwide.
- El Solh underscored Abu Dhabi's newfound status as the go-to investment gateway in Asia for many global and regional investors.
Business
Saudi consumer spending up 4 percent in October: SAMA
Riyadh, Saudi Arabia -- Consumer spending in Saudi Arabia increased 4 percent to SAR 110 billion ($29.32 billion) in October,...
- Consumer spending includes total cash withdrawals, point-of-sale (POS) transactions and e-commerce sales through "Mada", Argaam reported.
- Cash withdrawals from ATMs declined by almost 3 percent YoY to roughly SAR 45.5 billion in October.
Business
Dubai Taxi IPO raises US$315m
It received more than US$41 billion in investor orders.
- The IPO will result in total gross proceeds of approximately US$ 315 million being paid to the Department of Finance, representing the Dubai government
- DTC said the previously announced offering size consists of a total of 624,750,000 shares, equivalent to 24.99% of DTC’s total issued share capital
Business
Honda to make electric mopeds
It will pour US$3.4bn into the new venture this decade.
- The company said it plans to launch 30 new electric models by 2030 and to reduce the current cost of electric motorcycles by 50 percent
- In 2022, the electric motorcycle market was worth $30 billion and is expected to grow by almost 19 percent per year between 2023 and 2030
Business
Fintech fuels growth in Islamic finance sector
Islamic banking, making up 70% of the Islamic finance market's assets, is undergoing a transformative phase, fueled by fintech innovations...
- Islamic banking, making up 70% of the Islamic finance market's assets, is undergoing a transformative phase, fueled by fintech innovations and poised to hit $4 trillion by 2026
- The UAE and Saudi Arabia are at the forefront of the Islamic fintech revolution, setting new digital standards and driving the sector's global expansion, says a latest report
Economy
UAE and Cuba look to boost economic, energy ties
The discussions between the UAE president and the Cuban president at Expo City Dubai focused on cooperation in various fields...
- The meeting also covered the UN Climate Change Conference (COP28), starting today at Expo City Dubai
- The two leaders exchanged views on regional and international developments and a number of other issues
Business
ENOC and Neste sign MoU to drive sustainable aviation fuel initiatives
Dubai, UAE--ENOC Group has signed a memorandum of understanding (MoU) with Neste, the world's leading producer of sustainable aviation fuel...
- The partnership is the first step in ENOC’s plan to supply blended SAF to all its customers across its entire network by 2030
- The fuel taken from renewable raw materials has the potential to reduce air travel related carbon emissions by up to 80%
Business
UAE to pump CO2 into rock as carbon capture debate rages
Fujairah, UAE - High in remote mountains in the oil-rich Emirates, a new plant will soon take atmospheric CO2 and pump...
- The first CO2 injection is expected during COP28, and where the debate over hydrocarbons will be a key battle between campaigners and the oil lobby.
- Oil producers are throwing their weight behind carbon capture and storage (CCS) technology as a global warming solution despite criticism from climate experts.
Business
UAE presents its maritime contributions at IMO meet in UK
DUBAI, UAE - Presenting its category B candidacy in the International Maritime Organization (IMO) Council at the organization’s focus group...
- The UAE’s strategic location at the crossroads of global shipping routes has enabled it to become a central maritime hub in the world.
- The country has strived to achieve continuous development in the maritime industry, which is a key pillar of its national economy.
Firms lag as AI-driven fraud surges: Study
The report, published by the Association of Certified Fraud Examiners and analytics firm SAS, highlights widening gaps between rapidly evolving...
Business
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Tesla sales tumble in Europe in Q1
The company suffered from boycotts against the policies of Elon Musk.
Business
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Business
Vanke reports annual loss of $6.8 bn
The property giant attributes loss to falling sales and shrinking profit.
- Beijing has in recent years grappled with a prolonged crisis in the country's vast real estate sector, once a key pillar of the economy but now beset with sprawling debt.
- Hong Kong-listed Vanke is part-owned by the government of Shenzhen and was China's fourth-largest real estate firm by sales last year, according to research firm CRIC.
Business
Qatar’s Producer Price Index for Feb down 0.33 percent year-on-year
Doha, Qatar -- Qatar's general Producer Price Index (PPI) for the industrial sector for February recorded 114.01 points, showing stability...
- The PPI for the industrial sector is composed of four main sectors: mining and quarrying, which accounts for 82.46 percent of the index.
- On an annual basis, the index for this sector fell by 0.42 percent, attributed to the same decline in oil and gas extraction.
Business
Goldwind 2024 revenue up 12.5%
The clean energy giant posted $7.8bn in revenue for 2024.
- Net profit last year also saw growth, rising nearly 40 percent percent to 1.9 billion yuan.
- China now dominates the global wind sector in terms of total installed capacity, aided over the years by generous strategic subsidies from Beijing.