ABU DHABI, UAE - The Federal Tax Authority (FTA) has issued a new guide outlining the criteria to determine natural persons subject to the Corporate Tax Law, that came into effect on June 1 2023.The guide provides a comprehensive and simplified explanation and instructions for natural persons realizing income in...

Deyaar is a leading real estate developer in Dubai.

Abu Dhabi, UAE - The United Arab Emirates was named the most economically competitive nation in the Arab world, a report on Arab Economic Competitiveness Index released by the Arab Monetary Fund (AMF).UAE's sustained progress across crucial sectors, including its economy and investment environment are said to be the reasons...

Abu Dhabi's Shuweihat 4 desalination project secures $444 million.

The move is likely to enhance ESG’s manpower portfolio.

Abu Dhabi, UAE - The Central Bank of the UAE (CBUAE) has said that the UAE insurance sector continued to grow in Q3 2023, as reflected by the increase in the number of insurance policies in line with the increase in the gross written premiums (GWP).In its report, CBUAE stated...

It will benefit from revenue synergies, economies of scale.

ABU DHABI, UAE – Airports in the country witnessed a 15 percent increase in air traffic during the 28th Conference of the Parties (COP28) held at Expo City Dubai, said Director-General of the General Civil Aviation Authority (GCAA) Saif Mohammed Al Suwaidi.In a statement to the Emirates News Agency (WAM),...

ABU DHABI, UAE - The UAE Government has issued a federal decree which aims to regulate and organize media in the UAE.The decree also aims to promote the UAE as a global media hub and establish an enabling environment to catalyze the growth and prosperity of the sector.The provisions of...

This follows an earlier investment of $738.5 million by CYVN in July.

ADNOC to buy OCI’s entire shareholding in Fertiglobe.

Both the firms will offer their expertise in the sector.

ABU DHABI, UAE -  Tabreed on Thursday announced the successful closure of its inaugural US$163 million (AED600 million) Green Revolving Credit Facility (RCF) in partnership with First Abu Dhabi Bank (FAB) as the Green Coordinator, alongside Abu Dhabi Commercial Bank (ADCB), and Emirates NBD.This financing agreement, spanning five years, aligns...

ADCB to sell 80 percent stake in ADCP to Nine Yards Plus.

The company deals in risk management infrastructure for digital assets.

The partnership will utilize low-cost indoor farming solution.

The firms will collaborate on nuclear energy technologies.

ABU DHABI, UAE - International Monetary Fund (IMF), in collaboration with the UAE Executive Office of Anti-Money Laundering and Counter Terrorism Financing (EO AMLCTF), held a "Fintech Roundtable" with Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) supervisors from across the globe.The event was attended by participants from 15 countries and...

"COP28 is a very important conference because what it's doing is not just bringing people together, but it provides certainty about the deadline that everyone wanting to make any real commitment must adhere to," he adds, underscoring the significance of the UN Climate Change Conference being held in Dubai.

Dubai, UAE--The UK government has ordered a formal probe into the proposed sale of the Telegraph Media Group to an Abu Dhabi-backed investment fund.The investment fund, RedBird IMI, disclosed earlier this month that it was set to take control of The Daily and Sunday Telegraph sister newspapers and The Spectator...

Abu Dhabi, UAE - The Abu Dhabi Global Market (ADGM) was announced as the home of the newly launched catalytic climate vehicle ALTÉRRA established by Lunate the global alternative investment management company, the world’s largest private climate investment vehicle.The initiative, which saw the UAE commit a US$30 billion in catalytic...

TAMM becomes first to use UAE’s Falcon large language models.

ABU DHABI, UAE - CEO and Co-Founder of Astra Tech Abdallah Abu-Sheikh said that the company will launch its first financial services empowered by artificial intelligence (AI) in 2024.In statements to the Emirates News Agency (WAM) on the sidelines of the Abu Dhabi Financial Week (ADFW), Abu-Sheikh said that Astra...

ABU DHABI, UAE - The Central Bank of the United Arab Emirates (CBUAE) hosted several events with Islamic finance infrastructure organizations dedicated to sustainable Islamic finance.The events, which took place in Abu Dhabi on November 27-28 2023, are part of CBUAE’s efforts to promote sustainable finance and expedite initiatives tackling...

Abu Dhabi, UAE -- Abu Dhabi Global Market (ADGM), a leading international financial center of the UAE’s capital, Thursday announced that 14 major financial institutions representing a total Assets Under Management AUM of $452 billion have committed to establishing new operations in ADGM.A year into Abu Dhabi’s “Falcon Economy”, these...

Abu Dhabi, UAE -- Dr. Karim El Solh, Co-Founder and Chief Executive Officer at Gulf Capital, said Thursday Abu Dhabi is positioned as one of the globe's fastest-growing financial hubs between West and East Asia.Speaking to the Emirates News Agency (WAM) during Abu Dhabi Finance Week, El Solh underscored Abu...

Abu Dhabi, UAE--Abu Dhabi IPO Fund (ADIPOF) is working on three initial offerings in the technology, hospitality, restaurants, and financial sectors, expected toward the end of 2024.It was revealed by Bassel Al Khawaja, Advisory Head at Abu Dhabi IPO Fund (ADIPOF) on the sidelines of the 2nd day of the...

Abu Dhabi, UAE - Martina A Strong, the US Ambassador to the UAE revealed on Monday that American companies secured over $128 billion in deals for cutting-edge American technology, innovative products, and premium services during the Dubai Airshow, including a $52 billion deal between Emirates Airlines and Boeing.In statements to...

ABU DHABI, UAE - Emirates Water and Electricity Company (EWEC) on Monday announced that it will conduct its Q4 2023 auction for Clean Energy Certificates (CECs) here, with registration now open and the auction closing on December 14 2023.Introduced by the Abu Dhabi Department of Energy (DoE), CECs are currently...

Abu Dhabi, UAE -- The financial sector in the UAE has experienced a surge of 30 percent in the second quarter of this year. Forecasts predict a continued upward trajectory, with an expected annual growth rate of 13 percent in 2023, according to a senior economic official.Addressing attendees at the...

ABU DHABI, UAE - Emirates Development Bank (EDB) has committed US$350 million (AED 1.3 billion) to support the Energy Transition Accelerator Financing (ETAF) platform to accelerate the financing and drive funding of renewable energy projects in developing countries.The ETAF platform is a global climate finance facility established by the International Renewable...

SHARJAH, UAE - Bank of Sharjah announced its selection as joint lead manager and bookrunner in the debut US$350 million 144A/Reg S senior unsecured sukuk for Abu Dhabi-based Ittihad International Investment LLC, alongside other international and regional banks.In response to the successful closure of this transaction, Mohamed Khadiri, CEO of...

Abu Dhabi, UAE -- The Abu Dhabi Department of Economic Development (ADDED) has launched a program to improve the access of SMEs to financial services and enable them to grow further and play a greater role in the sustainable development.ADDED said the “SME Finance Facilitator” program is being launched in...

The pact sets up a framework for knowledge, data sharing

The pact will help in creating job opportunities in the UAE.

ABU DHABI, UAE – Emirates Global Aluminum (EGA) on Thursday announced the construction of a pilot plant to convert bauxite residue, a waste stream from alumina refining, into manufactured soil.The pilot plant is considered to be the first-of-its-kind in the world.Construction follows five years of scientific research development by EGA...

ABU DHABI, UAE - Masdar City, a sustainable urban community and a business and technology hub here, has just completed the region’s first net-zero energy commercial building, called NZ1.The building’s simple design demonstrates that net-zero energy is possible for almost any developer, setting a new benchmark for architects and city...

Abu Dhabi, UAE--Abu Dhabi Future Energy Company (Masdar) has signed an agreement with Emirates Steel Arkan to develop a pioneering project utilising green hydrogen to reduce carbon emissions in the UAE's energy-intensive steel industry.Marking the first of its kind in the Middle East and North Africa region, this innovative project...

ABU DHABI, UAE  - Emirates Global Aluminum (EGA) on Tuesday announced the start of construction of the country’s largest aluminum recycling plant.The state-of-the-art facility, with an annual production capacity of 170,000 tonnes, is being built adjacent to EGA's existing smelter in Al Taweelah.The plant will utilize a combination of post-consumer...

Abu Dhabi, UAE-- The third edition of the Investopia summit will be held in Abu Dhabi in February next year, drawing prominent local and international figures, investors, government officials, decision-makers and entrepreneurs.Al Marri announced the details of the upcoming edition of the Investopia summit to be held under the theme...

ABU DHABI, UAE - Abu Dhabi Ship Building (ADSB) announced that it is building two 28-meter vessels for ADNOC Logistics and Services plc (ADNOC LS), a global energy maritime logistics leader.The order for these vessels further strengthens the relationship between ADNOC LS, a global energy maritime logistics leader, and EDGE...

Abu Dhabi, UAE – ADASI, the EDGE Group entity, a regional leader in autonomous systems and services, said on Thursday that it has signed an AED 239 million ($65 million) contract to supply GARMOOSHA unmanned aerial systems (UAS) to the UAE Ministry of Defence."We are honoured to deliver our best-in-class...

This is due to the steady growth in its consumption volumes.

ABU DHABI, UAE - Some employees who failed to meet an October 1 deadline to sign up to the UAE's job loss insurance scheme will not be able to renew work visas until they pay off fines, authorities said on Wednesday.The Ministry of Human Resources and Emiratization said financial penalties...

The company's third-quarter revenue grew by 8% to $5.80 billion.

The bank marked the issuance of its $500 million green sukuk.

The two companies will invest up to US$1.5 billion.

The EBITDA increased by 28% YoY to $303 million in the third quarter.

The final orderbook of the green sukuk closed at $2.6 billion.

Global firms looking to hire space for offices and demand from govt, local dwellers have turbocharged the sector, driving property prices and rents to highs not seen in recent years.