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...
Business
Dubai’s ATM 2026 closes with record Asia-GCC travel data, tourism rebound
The 33rd edition, held under the theme "Travel 2040: Driving New Frontiers Through Innovation and Technology," saw the launch of...
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Business
UAE raises $299 million in Islamic Treasury Sukuk auction
Abu Dhabi, UAE — The UAE Ministry of Finance (MoF), in collaboration with the Central Bank of the UAE, has...
- The auction underscores growing demand for UAE’s dirham-denominated sukuk, reflecting robust investor confidence in its credit and economic outlook.
- With tight spreads over US Treasuries, the sukuk issuance demonstrates competitive pricing while advancing the UAE’s local debt market development.
Business
Aldar ups stake in Aldar Estates
Acquires Modon Holding’s 17.45% stake
- Aldar Estates has become the region’s largest integrated real estate services company with over AED3 billion worth of active contracts.
- The platform manages more than 155,000 residential units, which is a 15 percent increase in the past two years.
Business
The next chapter in branded residences: A deep dive with top experts
Experts predict continued growth, with developers increasingly seeking partnerships for brand prestige, service excellence, and higher premiums.
- Branded residences have grown by a staggering 180 percent globally over the past decade, reaching a total of 1,746 schemes, with 779 completed projects and 967 in the pipeline.
- Hotel brands account for 79 percent of the sector globally, whereof approximately two-thirds are positioned within the luxury segment.
Business
Americans would dominate board of new TikTok US entity: W.House
A deal for the Chinese parent company of popular video-sharing app TikTok to sell its US operations would see the...
- The United States has forcefully sought to take TikTok's US operations out of the hands of Chinese parent company ByteDance for national security reasons
- Under President Donald Trump's predecessor Joe Biden, the US Congress passed a law to force ByteDance to sell its US operations or face a ban of the app
Business
Top music body says AI firms guilty of ‘willful’ copyright theft
Paris, France -- AI companies have sucked up the world's entire music catalogue and are guilty of "willful, commercial-scale copyright...
- AI music generators such as Suno and Udio can produce tracks with voices, melodies and musical styles that echo those of original artists such as the Beatles and Mariah Carey.
- The Recording Industry Association of America, a US trade group, filed a lawsuit in June 2024 against both companies.
Business
Stocks rise on $5 billion Nvidia-Intel deal, Fed rate cut
Nvidia announced a $5 billion investment in struggling US rival to jointly develop chips for PCs and data centers. The...
- Investors were also reacting to Wednesday's US central bank decision to lower rates by 25 basis points, its first cut of the year.
- The decision to cut came even as US inflation runs well above policymakers' two-percent target, but analysts said the main focus was on the jobs market.
Business
Trump says US, China ‘have a deal’ on TikTok
"We have a deal on TikTok, I've reached a deal with China, I'm going to speak to President Xi (Jinping)...
- The deal was negotiated over two days of talks in Madrid between US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng.
- A US federal law requiring TikTok's sale or ban on national security grounds was due to take effect the day before Trump's inauguration on January 20.
Business
Elon Musk buys $1 billion in Tesla shares, stock prices go up 6%
New York, United States - CEO Elon Musk bought about $1 billion worth of shares in Tesla, according to a...
- The purchase came the same month Tesla unveiled a proposed compensation package for Musk that could top $1 trillion if he delivers on his vision for stratospheric growth
- Tesla chair and close Musk associate Robyn Denholm has made several business media appearances in recent days, defending the pay package
Business
US says ‘framework’ deal with China on TikTok ownership
Donald Trump said -- without directly naming the social media giant -- that a deal was reached with a "certain...
- Trump added on his Truth Social network that he would speak to Chinese President Xi Jinping on Friday.
- A federal law requiring TikTok's sale or ban on national security grounds was due to take effect the day before US President Donald Trump's inauguration on January 20.
Business
Sharjah records 361 percent growth in capital investment in H1
Sharjah, UAE -- The Sharjah FDI Office (Invest in Sharjah) has announced an exceptional increase in foreign direct investment during...
- In this time period the emirate recorded 74 FDI projects, a 57 percent surge from the 47 projects in the same period last year.
- February 2025 saw the highest volume of FDI activity in terms of both project count and capital investment.
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...
Business
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Awqaf Dubai investment portfolio market value rises to $402 million
Dubai, UAE -- Dubai's Endowment and Minors' Trust Foundation (Awqaf Dubai) said on Monday the market value of its securities...
Business
Saudi public investment funds assets rise 20 percent in Q1 to $61 billion
Dubai, UAE -- Assets of Saudi Arabia's public investment funds rose 20 percent year-on-year to SAR231.7 billion ($61.8 billion) in...
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Abu Dhabi real estate transactions more than double in H1
Data released by the Abu Dhabi Real Estate Centre (ADREC) showed total real estate transactions reached $31.9 billion in the...
- Foreign investment jumped 309 percent while new investment zones and projects underscored growing global confidence in Abu Dhabi property.
- The number of nationalities represented by non-resident investors rose to 116 from 82 a year earlier.
Saudi Ports Authority signs $266.6 million logistics agreements
Dubai, UAE -- Saudi Ports Authority (Mawani) signed seven agreements worth 1 billion riyals ($266.6 million) to establish logistics centres...
- The agreements were signed during the inauguration of the Truck Marshaling Project.
- They include projects to develop integrated logistics, warehousing, storage, distribution and re-export facilities.
Business
PIF-backed SURJ launches venue venture radia with Live Nation, OVG
Dubai, UAE -- SURJ Sports Investment Co, owned by Saudi Arabia's Public Investment Fund (PIF), has launched a joint venture...
- PIF-owned SURJ formed radia with Live Nation and Oak View Group to manage Saudi sports venues and operations nationwide.
- Xavier Campbell was appointed chief executive officer and will lead the company's market launch and long-term growth strategy.