The signing ceremony also witnessed the handing over of the two exploration licenses for Khnaiguiyah and Umm Al-Damar sites to the companies that won their licenses.

The guidance, which comes into effect immediately, will assist LFIs’ understanding of risks and effective implementation of their statutory AML/CFT obligations, and takes Financial Action Task Force (FATF) standards into account. The Guidance requires LFIs to demonstrate compliance with its requirements.

The contribution of financial companies operating from DIFC to the financial services sector in the country exceeded 13% of the nominal GDP of Dubai during 2021, Amiri said.

ABU DHABI, UAE  - The Ministry of Economy has announced that Creative Zone, one of the UAE's largest consulting and business establishment companies, has joined the NextGenFDI initiative. The NextGenFDI program, which was launched in July 2022, aims to attract digitally-advanced companies to the UAE and develop the next generation...

Insurance claims are the ‘moment of truth’ for the customer and the biggest cost in the potential profit and loss, especially for retail businesses. That is why getting it right matters, the two experts highlight, referring to one of the latest research conducted by Arthur D. Little.

The move will help Dubai in becoming a cashless economy.

Businesses in the region are working closely with their governments to get cloud security solutions implemented to reduce the success rates of phishing attempts.

SINGAPORE -   The UAE has participated in the 17th Asia Pacific Regional Meeting of the International Labor Organization (ILO) in Singapore. More than 500 representatives of governments, labor organizations and companies from 33 of the 48-member countries of the Asia Pacific Group of ILO took part in the meeting. The...

The initial publication -- which listed US companies including Airbnb, Expedia and TripAdvisor -- was denounced by the then administration of Donald Trump, which had reversed longstanding US opposition to settlements in the West Bank. Secretary of State Antony Blinken in a speech Sunday warned the incoming right-wing government of...

Washington, United States—The US Commerce Department on Friday accused several solar companies of evading American tariffs on imports of China-made components, findings that could add to tensions between Beijing and Washington. The department has been investigating claims that certain manufacturers of solar cells and modules went around antidumping and countervailing duties...

Brussels needs to find new energy suppliers and we recognize the important role of the UAE on that front, Belgian ambassador to the UAE Antoine Delcourt tells TRENDS

Move comes UK imposes windfall tax on energy firms.

The Treasury Department's Office of Foreign Assets Control (OFAC) sanctioned two individuals and two companies for providing financial services to Hezbollah.

French President Emmanuel Macron repeated his frustration with US subsidies, saying they were hurting European companies by providing an unfair advantage to their American competitors. International trade has bubbled into a point of contention this week as Macron becomes the first foreign leader hosted by President Joe Biden during an...

ALMATY, KAZAKHSTAN - Kazakhstan warned Monday it could nationalize struggling energy companies in the oil-rich Central Asian country after the latest blackout there left thousands without electricity in freezing temperatures. The vast ex-Soviet country is a net exporter of energy, but high gas prices this year fueled historic and bloody...

SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) discussed business and investment opportunities in the UAE and Russia with the Moscow Chamber of Commerce and Industry. The meeting that took place at Expo Center Sharjah (ECS) brought together Abdallah Sultan Al-Owais, SCCI's Chairman, and Vladimir Platonov, Chairman...

Dubai, UAE--- UAE's Ministry of Human Resources and Emiratisation (MoHRE) has said it was keen to support and empower private sector companies in the country and help them achieve their Emiratisation goals of 2022, with 50 days to go for the deadline before fines are imposed on non-compliant companies. Companies...

Some of Germany’s leading industrial companies participated in a roundtable event hosted by the UAE Ministry of Industry and Advanced Technology at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2022.

The Abu Dhabi Exports Office (ADEX), the export-financing arm of Abu Dhabi Fund for Development (ADFD), has signed a US$10 million (AED36.7 million) line-of-credit agreement with the National Bank of Iraq (NBI), part of the Capital Bank Group.

There is a need for concerted efforts by citizens and residents to make this global event a success, Sheikh Khalifa bin Jassim said in an interview to a local Qatari newspaper, adding that the World Cup Qatar 2022 will leave a unique imprint in the history of the FIFA World...

At least 11 Jordanian food processing companies took part in the SIAL Paris 2022 trade show, the Jordan Exporters Association (JEA) said.

Dubai Customs provides the services and facilities to licensed companies in the free zones of the Emirate to boost investments and attract more investors.

Chemical companies in the Gulf region are likely to cope relatively well with the current stresses of rising rates and higher energy costs, says a recent report.

A high-level UAE delegation, on a visit to Egypt, met with senior officials of the Egyptian Ministry of Defense.

The Riyadh Chamber hosted a meeting in which 23 Russian companies and representatives of the Saudi Arabian business sector participated.

The EU executive believes it can raise €140 billion from the levies on non-gas electricity producers and on energy majors that are raking in outsized profits from the global energy demand.

The Ministry of Energy and Infrastructure (MoEI) announced the launch of the "UAE Maritime Network".

Winning firm can still seize the current moment with bold, decisive actions to address the near term, while building strategies for the medium and long term. Supply chain resilience, operational productivity, design-to-value programs, and revenue growth management (RGM) shouldbe the key focus area, they add.

The Sharjah Chamber of Commerce and Industry (SCCI) has hosted a webinar in cooperation with Al Etihad Credit Bureau (AECP) to discuss the importance of AECP credit report and score for SME businesses.

DEWA CEO said that the exhibition will introduce the world to the UAE’s achievements in the renewable and clean energy sector.

Key attractions in the UAE include economy, secure environment, rewarding salary packages, a wide range of job opportunities, and the wise leadership, says a survey.

The UAE finance ministry's Financial Restructuring Committee (FRC) recently held the second meeting of its Consultative Council.

Adoption of metaverse technologies is part of the UAE government's strategy to diversify its economy away from oil as the country focuses on innovation and talent development.

MD & CEO of Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer met a delegation from the Unified Economic Opportunity Commission of the Utah House of Representatives, USA.

Rising oil prices, which have proved to be a windfall for governments and companies in the upstream sector, has strengthened balance sheets of the region's banking sector.

Dubai, UAE-- More than 27,100 companies have joined as new members of the Dubai Chamber of Commerce in the first eight months of 2022, marking a 69 percent year-over-year (y-o-y) increase and bringing total membership to over 314,000. Dubai Chamber of Commerce, which is one of three chambers operating under Dubai...

With Kubernetes, regional enterprises have automated their deployment, managment and scaling of containerized applications. Since it is controlled by developers and not infrastructure teams, there is a better understanding which ultimately leads to high quality results, he adds.

The Gulf countries assist loan defaulters by delaying payments or exempting those who can't pay to save emerging companies and prevent their accumulation of financial burdens.

Winning firms are exploring innovative alternatives, guided by a strong sense of purpose and a flexible strategy. Disruption doesn’t demolish ESG ambitions. It fortifies them, add François Faelli, Global Managing Partner of ESG, Bain & Company and Akram Alami, Partner, Bain & Company Middle East.

The company overcomes the global economic headwinds.

Dubai Multi Commodities Centre (DMCC), the Government of Dubai Authority on commodities trade and enterprise, has announced that 15 companies have been selected to participate in the DMCC Impact Scale-Up Program.

Dubai Electricity and Water Authority (DEWA) has been ranked the third most valuable utility brand in the Middle East and the third fastest growing brand in the UAE according to the annual report issued by 'Brand Finance'.

Dubai Electricity and Water Authority (DEWA) has organized a virtual seminar with 90 leading Turkish companies in the energy and water sectors.

German ministers vowed to reexamine a planned gas surcharge imposed on consumers after it emerged that some energy companies seeking a share of the levy were in fact posting billion-euro earnings.

Turkey's finance minister told businesses on Friday they should not be concerned by the threat of sanctions that Washington warns will follow if they do business with sanctioned Russians. Nureddin Nebati's Twitter comments represent Ankara's first official response to a letter the US Treasury sent to Turkish businesses on Monday.

During the COVID-19 crisis, the bank set a maximum limit of cash deposits as part of measures to face its global economic impact.

A total of 74 listed companies listed in the Abu Dhabi Securities Exchange (ADX) accounted for 59.8 percent of total assets, valued at $771 billion at the end of June 2022.

As money starts to dry up and subsequent funding rounds get more precarious, companies are expected to experience more acute financial distress and look for any semblance of certainty. This will lead more and more companies to be open to the possibility of M&As, Basta adds.

The total premiums of insurance companies listed in local financial markets in the first half of 2022 increased by 7.64 percent year-on-year to $302 million while their net profits totaled $222 million.

Many risks companies face in the real world exist in the metaverse, albeit with a digital twist, requiring insurance players to come up with a new set of liability policies.