UAE consumer spending expected to rise by 5% in 2024: Mastercard report
Dubai, UAE -- Consumer spending in the UAE is expected to increase by 5 percent in 2024, while consumers and...Business Economy
Waning influence of OPEC+ in spotlight as prices flag
Founded in 1960, the 13-member OPEC cartel in 2016 partnered up with 10 other producers to form OPEC+ to gain...Economy
Dubai Free Port: A super vault for VIP travellers, HNWIs
The super vault presents a variety of top custody and security services. It features automatic robot-driven, safe-deposit boxes, medium and...Mohammed Bin Rashid Aerospace Hub commissioned Athena Security to develop the project on 17,000 square-metre plots adjacent to the VIP Terminal in Dubai South
Athena partnered with Leading Swiss Premium Vault to lend its expertise in quality, security and compliance to the project.
OXAGON, largest floating industrial complex in the world, launched in Saudi Arabia
The project forms the next phase of NEOM’s master plan and represents a radical new model for future manufacturing centers.The project forms the next phase of NEOM’s master plan and represents a radical new model for future manufacturing centers
OXAGON will establish the world’s first fully integrated port and supply chain ecosystem for NEOM
UAE, Israel in talks to sign comprehensive economic pact
The announcement was made via video conferencing on Tuesday by Abdullah bin Touq Al Marri and Orna Barbivai, Israeli Minister...The partnership between the two countries will reinforce their economic ties, promote trade, increase new investment opportunities for companies
Trade exchange between the two countries from the signing of the peace accord in September 2020 until the end of September 2021 has been around AED3.5 billion
DFM incentivizes IPOs from companies in key growth sectors
The program encompasses unprecedented incentives including financial support to the cost of private companies’ IPOs on DFM’s Main Market and...The new program is in line with the efforts to strengthen Dubai’s position as global capital markets hub
The DFM seeks to attract companies from sectors such as Technology, Transport & Logistics, Healthcare, Pharmaceutical, Manufacturing, and Agri-Tech
Turkey’s troubled lira accelerates record slide
It fell nearly four percent to 10.41 to the dollar before clawing back some of its losses ahead of a...The central bank has lowered its policy rate by 300 basis points to 16 percent since August
Even big businesses have started to express alarm that Turkey may be spiralling towards a currency crisis
Dubai launches five-year multi-entry visa for MNCs
The visa will enable MNC employees to participate in events, conferences, training courses, exhibitions and similar activities hosted in the...The visa allows them to stay in the UAE for 90 days, with the option of extending their stay for another 90 days.
Between January and September 2021, Dubai received around 3.85 million international visitors.
Turkey’s troubled lira accelerates record slide
The Turkish lira suffered one of its biggest falls of the year on Tuesday and hit new historic lows to...The lira fell by nearly four percent to 10.36 to the dollar before clawing back some of its losses ahead of a meeting
Turkey's nominally-independent bank has bowed to incessant pressure from President Recep Tayyip Erdogan to drive down the cost of doing business in order to stimulate growth
Emirates expects to return to profit in ‘next 18 months’ as losses drop by half
Aviation giant Emirates expects to return to profitability "in the next 18 months" as the sector bounces back from the...The Dubai-based carrier said last week it was on the path to recovery as six-month losses dropped by more than half from a year earlier.
Emirates posted an April-September loss of $1.6 billion, compared with $3.4 billion during the same period in 2020.
Asian markets mixed with focus on inflation, Biden-Xi summit
Global markets have enjoyed about 18 months of healthy gains with many hitting record or multi-year highs .Global markets have enjoyed about 18 months of healthy gains with many hitting record or multi-year highs
But with the recovery well on track and people returning to a semblance of normality, inflation is surging to levels not seen in decades
New service to help start business in Saudi Arabia in three steps
For new investors, the new service will require only three steps: visiting the Saudi Ministry of Foreign Affairs website and...Investors and companies wanting to do business in the Kingdom will benefit from the new reforms
The ministry said there will be a broad marketing campaign to ensure that foreign investors and companies can benefit from the new service
