Future-proofing hospitality asset value needs financial rigor with emotional intelligence
The GCC’s luxury hospitality sector has become a global benchmark, yet behind every polished facade lies an increasingly complex financial...
Opinion
Hermes overtakes LVMH as world’s most valuable luxury group
Paris, France -- French group Hermes overtook LVMH as the world's most valuable luxury company on Tuesday after shares in...
Business
Business
Dubai Courts, Moro Hub ink pact to enhance cooperation in cyber security
DUBAI, UAE - Dubai Courts signed a Memorandum of Understanding with Moro Hub, a subsidiary of Digital DEWA, the digital...
- Leveraging on Moro’s capabilities, the MoU will serve the society’s interest in providing a comprehensive legal framework to combat cybercrimes.
- The MoU will help in exchange of knowledge and leverage on expertise as per Dubai Courts mission of achieving precise and swift justice.
YEARBOOK 2023
GCC banks to benefit from 2022 growth momentum
Since the COVID-19 outbreak, GCC banks have experienced a growth of more than 10 percent annually, a positive sign that...
- GCC banks will also reap the benefits of reduced overhead thanks to fewer branches and a smaller workforce.
- A few GCC banks have expanded into risky countries, especially Turkey and Egypt.
Geostrategy
Dubai court authorizes jailed Brit’s fraud extradition, say lawyers
DUBAI, UAE - A Dubai court Thursday authorized the extradition of a British national wanted over an alleged 1.7 billion...
- Hedge fund trader Sanjay Shah was arrested in Dubai in June, but the emirate's Court of Appeal in September rejected an extradition request by Denmark.
- Shah is accused of running a scheme for three years from 2012 in which foreign firms pretended to own shares in Danish companies and claimed tax refunds.
Business
Dubai Chamber launches Cloud Computing Business Group
Dubai, UAE-- Dubai Chamber of Commerce has announced the launch of the Cloud Computing Business Group, which will focus on...
- The Chamber said the business group will address policy matters related to the industry, amongst others.
- The UAE has consistently outperformed 15 other countries in the Middle East and North Africa region as the most cloud competitive economy.
Business
TSMC begins making 3nm chips
TSMC operates the world's largest silicon wafer factories.
- TSMC is also Apple's primary chip supplier.
- Its 3nm-process chips are expected to have more processing power while using less power, boosting battery performance.
Economy
ADJD discusses developments in Evidence Law in civil, commercial transactions
ABU DHABI, UAE - Participants in the second Justice Partners Forum organized by Abu Dhabi Judicial Department (ADJD) discussed the...
- The virtual forum highlighted the importance of partnering with lawyers.
- The forum also reviewed a number of cases handled by the courts.
Business
Fujairah Chamber board approves 2023 operational plan and budget
Fujairah, UAE-- The Board of Directors of the Fujairah Chamber of Commerce and Industry stressed the importance of encouraging private...
- 2023 operational plan comprises several programmes and activities, including the development of the chamber's electronic system.
- The Board stressed the importance of encouraging private sector companies and institutions in the emirate to improve their products.
Twitter outages hit thousands of users worldwide
DownDetector reported a spike in issues with Twitter starting around 7 pm Eastern time (midnight GMT), with users unable to...
- At the peak of the outage, DownDetector clocked more than 10,000 complaints in the United States, as the hashtag #TwitterDown trended on the platform
- Web monitor NetBlocks said the outages were international and not related to country-level internet disruptions or filtering
YEARBOOK 2023
GCC retail sales pin hope on high consumer spending
Luxury segment is set to hit US$ 11bn by 2023 as retailers in the GCC are reporting increased sales due...
- Luxury segment is set to hit US$ 11bn by 2023 as retailers in the GCC region are reporting increased sales due to rising inflation and consumer spending on basics, says a survey
- In Saudi Arabia, the retail market is expected to grow by up to three times its current value by 2030, making it the second largest contributor to the country's non-oil GDP
Business
DEWA’s new project cuts 44,000 tons of carbon emissions annually
The TESTIAC project was implemented to increase the electricity generation capacity of gas turbines during high ambient temperatures in summer...
- This project is the first of its kind internationally combining Thermal Energy Storage with Inlet Air Chilling in Frame 9F Gas Turbines.
- This reduces the consumption of natural gas in the electricity production process, which limits greenhouse gas emissions.
Future-proofing hospitality asset value needs financial rigor with emotional intelligence
The GCC’s luxury hospitality sector has become a global benchmark, yet behind every polished facade lies an increasingly complex financial...
Opinion
Company News
Disney to buy stake in Hulu
Business
Latest News
e& net profit up 20% in Q3
Business
Oman year-on-year growth rate touches 15.4 percent
Muscat, Oman - Oman's achieved a 15.4% year-on-year sector growth, as reported by the National Center for Statistics and Information...
Economy
US bans import of Apple Watch due to patent clash
A US import ban on certain Apple smartwatch models came into effect, after the Biden administration opted not to veto...
Business
New UAE law allows employees merge work years for free
Abu, Dhabi, UAE -- A new UAE law contributes to enhancing insured Emiratis chance in obtaining a retirement pension by...
Business
Most Read
Business
Dubai’s family businesses get practical guidance with new toolkits
Dubai, UAE -- Three toolkits have been developed for family-owned businesses, which make up approximately 90 percent of the UAE’s...
- Three toolkits have been developed for family-owned businesses, which make up approximately 90 percent of the UAE’s private sector, by the Dubai Centre for Family Businesses.
- The majority of these businesses are expected to undergo a generational transition in the next 5-10 years.
Business
TDRA inks pact with PCFC’s Dubai Maritime Authority
DUBAI, UAE - The Telecommunications and Digital Government Regulatory Authority (TDRA) has signed a Memorandum of Understanding (MoU) with the...
- The partnership will help improve the regulatory framework for maritime business operations to enhance efficiency in the sector.
- The MoU establishes a procedure for acquiring necessary authorisations for maritime vessels through the Dubai Maritime Authority.
Business
Saudi Arabia to launch 35 renewable energy projects in 2024: Minister
Riyadh, Saudi Arabia -- Saudi Ministry of Industry and Mineral Resources is set to launch nearly 35 renewable energy projects...
- Geological surveys are ongoing in the mining sector and new mining sites are being launched, te minister said.
- In the industrial field, work is under way to open new businesses and empower others such as the automotive industry.