DUBAI, UAE -  The UAE is poised to play a pivotal role in global trade with its exports projected to reach around US$544 billion (AED2 trillion) by 2030, showcasing a robust annual growth rate of 5.5 percent. according to a Standard Chartered research study.The report, titled 'Future of Trade: New...

Dubai, UAE -- The Investment Corporation of Dubai (ICD) has posted a net profit of AED 36.1 billion ($9.8 billion) for 2022, compared to AED 10 billion in 2021 due to a surge in business activities and higher oil prices.The Group, which is the main investment arm of the emirate,...

“Cities such as Dubai and Abu Dhabi have rapidly established themselves as the hospitality destination of choice for business and leisure. Emirates such as Ras Al Khaimah are also heavily investing in these sectors, offering international tourists diverse offerings across the leisure and entertainment sectors,” he adds.

Dubai, UAE - A  shell-and-core mega penthouse in Palm Jumeirah was sold for AED 220 million ($60 million) by Honey Deylami, making the deal the most expensive ever. The penthouse sold is on the topmost floor of AVA at Palm Jumeirah, Dorchester Collection, spanning a built-up area of 33,406 sq ft. Occupying...

Dubai, UAE--Dubai held the first trial of medical delivery by drones at the Dubai Silicon Oasis (DSO), in yet another unique public-private sector partnership.The completion of the trial makes Fakeeh University Hospital, an academic-focused smart healthcare facility based in DSO, the first healthcare provider in the Middle East to leverage...

DUBAI, UAE -  UAE Minister of Energy and Infrastructure Suhail bin Mohammed Al Mazrouei on Tuesday announced the launch of the Global EV Market, a transformational project as per the performance agreements signed by federal authorities in 2022.The project was signed in the presence of Sheikh Mohammed bin Rashid Al...

Dubai, UAE - The total economic output generated by 63 large-scale events hosted at Dubai World Trade Centre (DWTC) reached $3.53 billion (AED 13 billion) in 2022. Out of this amount, a substantial $2.01 billion (AED 7.4 billion) was retained within the local economy, showcasing the venue's strong contribution to...

Dubai, UAE-- Some 27 million taxi rides were undertaken in Dubai in the first three months of 2023, up one million from the same period last year.According to the Roads and Transport Authority, the latest figures underscored the sector's “remarkable growth” over the past five years.The increase in journeys comes...

Dubai, UAE - Dubai on Monday launched a new QR Code initiative for holiday homes, as part of efforts to improve transparency and increase confidence among investors and visitors in the short-term rental market.Launched as part of Dubai's commitment to supporting the continuous growth of the hospitality industry, the initiative...

Dubai, UAE - The Dubai Financial Market (DFM) on Monday announced the offering of futures contracts on its General Index (DFMGI), which includes the most liquid and largest companies listed on the DFM. The listing and trading of DFMGI futures commenced on Monday.Trading futures contracts on the DFMGI offers investors...

Dubai, UAE - UAE banks experienced a significant surge in profitability during the first quarter of 2023, according to the latest United Arab Emirates (UAE) Banking Pulse report released by global professional services firm Alvarez & Marsal (A&M). The report highlights a 35 percent increase in profits compared to the previous...

This aligns with UAE's preparations for COP28 and the UAE Net Zero by 2050 Strategic Initiative, and is a part of RTA's efforts to advance sustainability maturity levels in roads and transportation.

New job opportunities are expected to emerge, but only individuals with advanced technological skills and education would be eligible for them. 

The Gulf, with its millions of South Asian residents and migrant workers, is a "huge market" for Bollywood, said industry expert Akshaye Rathi, director of the Aashirvad Cinemas chain. "These kinds of events don't overcome a crisis overnight," Rathi told AFP ahead of the 23rd IIFA, the second edition in...

Dubai, UAE -- A total of 3,321 real estate transactions worth AED11.1 billion ($3.02 billion) were conducted in Dubai during the week ending 26th May 2023, according to figures released by the Dubai Land Department (DLD).The DLD report showed that 220 plots were sold for AED 2.54 billion, 2,398 apartments...

Dubai, UAE - DP World cut direct carbon emissions from its global operations by 5 percent last year, according to its latest Environmental Social and Governance (ESG) report, reflecting progress towards its 2040 carbon-neutral target.The ESG report, published Thursday, has been developed in accordance with the latest Global Reporting Initiative...

DUBAI, UAE - First Deputy Ruler of Dubai and Deputy Prime Minister and Minister of Finance of the UAE Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum on Thursday met with Charles Meyers, President and CEO of Equinix here.During the meeting, Maktoum bin Mohammed highlighted Dubai’s keenness to strengthen collaboration...

Dubai, UAE -- Dubai's real estate market recorded real estate deals worth AED 5.1 billion ($1.38 billion) on Tuesday and Wednesday, Dubai Land Department data shows.A total of 500 sales transactions worth AED1.21 billion were recorded on Wednesday, in addition to 103 mortgage deals totaling AED267.86 million, and 73 gift...

Dubai, UAE-- The UAE has signed a memorandum of understanding (MoU) with Microsoft and PricewaterhouseCoopers (PwC) to set up the "UAE Centre for Government Digital Excellence."The centre will look to support the government’s digital transformation, enabling government authorities to benefit from the best global practices and modern technologies to improve...

DUBAI, UAE -  As part of the Year of Sustainability initiative, UAE Ministry of Climate Change and Environment (MOCCAE) has updated the classification of 64 air quality monitoring stations.This reclassification is consistent with the ministry's 2022 directive that set forth the requirements for classifying these stations, reinforcing the country's commitment...

DUBAI, UAE -  Art Dubai, the leading international art fair for the Middle East and Global South, on Sunday announced that the five-day event, held on March 1-5 2023, has provided a direct economic impact of US$39 million (AED143 million) to the city.New figures revealed in the Economic Impact Study...

The losses, however, narrowed from $141m in Q4 2022.

DUBAI, UAE - The Athletes Council at Dubai Police and the UAE Hockey Federation signed an agreement (MoU) to enhance joint sports cooperation in hockey.The MoU was signed by Dr. Maryam Al Matroushi, Chairman of the Athletes Council, and Abdullah Sultan Al Dah, President of the Hockey Federation.The MoU demonstrates...

DUBAI, UAE -   The Ministry of Community Development and Etihad Water & Electricity have announced the implementation mechanism of the new support program for low-income farm owners in the UAE.The farm owners have to be registered with Etihad Water & Electricity.This support aims to reduce the financial burden related to...

The Ministry of Finance calls on public to rely only on official publications for information on the tax law, while Dubai launches an integrated training programme for tax awareness.

The two airlines announced the start of a codeshare agreement.

Dubai, UAE -- A total of 3,105 real estate transactions worth AED9.1 billion ($2.47 billion) were conducted in Dubai during the week ending 19 May 2023, according to figures released by the Dubai Land Department (DLD).The DLD report showed that 191 plots were sold for AED1.14 billion, and 2,284 apartments...

Dubai, UAE -- Dubai real estate market recorded deals worth more than AED 1.7 billion (on Thursday, Dubai Land Department data shows.The deals include 451 sales transactions worth AED1.48 billion, in addition to 110 mortgage deals of AED245.8 million, and 13 gift deals amounting to AED46.2 million.The sales included 427...

DUBAI, UAE- IFZA Dubai signed an agreement with Zoho to provide the members of the IFZA Free Zone community with leading-edge digital tools that will help increase efficiency and ensure compliance.It is a part of IFZA’s commitment to support its Free Zone community in their compliance to the upcoming implementation...

DUBAI, UAE - Conflict-plagued countries in the Middle East are among the most vulnerable to climate change but are almost entirely excluded from meaningful financing to mitigate its effects, aid groups warned on Thursday.In a joint report focusing on Iraq, Syria and Yemen, the International Committee of the Red Cross (ICRC)...

Dubai, UAE: PROVEN Robotics, a robotic solutions provider, announced the successful integration of natural language artificial intelligence (AI) technology, ChatGPT, into its humanoid robot, Pepper. The integration of ChatGPT in Pepper offers several significant benefits including improving Pepper’s natural language understanding, enabling the robot to understand a wide range of human...

The Emirates' non-oil sector is projected to grow by 4.8 percent, driven by robust domestic demand, particularly in tourism, real estate, construction, transportation, and manufacturing sectors, the bank's officials said.

DUBAI, UAE -  UAE Ministry of Climate Change and the Environment (MOCCAE) on Tuesday organized the second National Dialogue for Food Security.This comes in line with the ministry's keenness to implement its strategies to enhance national food security in the UAE, understand the key challenges facing the country's poultry industry,...

Dubai, UAE – The UAE Ministry of Human Resources and Emiratisation (MoHRE) has called on eligible employees to subscribe to the Unemployment Insurance Scheme, which aims to provide a low-cost job security net that supports the career path of employees in the UAE at no additional cost to employers.The Ministry...

The group's EBITDA also rose by 33 percent YoY.

Dubai, UAE -- Dubai real estate market has recorded deals worth AED 2 billion ($544 million) on Monday, Dubai Land Department said.The deals include 638 sales transactions worth AED 1.79 billion, in addition to 116 mortgage deals of AED188.46 million, and 17 gift deals amounting to AED 29.45 million.The sales...

DUBAI, UAE -  Chairman of the Dubai Supreme Council of Energy Sheikh Ahmed bin Saeed Al Maktoum chaired the 76th meeting of DSCE which was held virtually in the presence of Saeed Mohammed Al Tayer, Vice Chairman of the Council.Saeed Mohammed Al Tayer, also the MD and CEO Dubai Electricity...

Dubai, UAE -- Dubai luxury real estate market transactions hit a new high in May, with a four-bedroom penthouse in Bulgari Resort and Residences selling for a record AED122 million ($33 million), making it the most expensive ready penthouse to ever be sold in the emirate.The 12,113-square-feet property boasts views...

The company's EBITDA for the quarter was $310 million.

The emirate achieved an 89.5 percent year-on-year growth in 2022 and Foreign Direct Investment capital inflows of $12.79 billion. The emirate's share of global Greenfield FDI projects in 2022 reached 4 percent, said Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and Chairman of Dubai Executive Council.

DUBAI, UAE -  The Gem and Jewelry Export Promotion Council (GJEPC) has launched a first-of-its-kind India Jewelry Exposition Center (IJEX) here during a special event to commemorate the first anniversary of the UAE-India Comprehensive Economic Partnership Agreement.Announced during the CEPA Beyond Trade celebration, IJEX will provide a platform for India’s...

Dubai, UAE - Dubai has given a boost to its beach tourism by opening three new beaches for night swimming in Jumeirah 2, Jumeirah 3 and Umm Suqeim 1.The 800-metre-long night-swimming beaches feature lighting systems, which enable residents and tourists to swim around the clock, and electronic screens that display...

The emirate's luxury home sales surged to $1.63 billion in Q1 2023, as affluent buyers acquired 88 units exceeding $10 million, signaling a sustained rise in prime property sales amid broader economic rebound.

DUBAI, UAE - The UAE presented its legislative ecosystem - which regulates the local labor market, provides social security and ensures decent social security to workers - the UN’s Human Rights Council (HRC).Several UAE federal, local government entities and civil society organizations were part of the delegation for the country’s...

The Group's income also saw an increase of 34 percent.

GCC countries are investing in infrastructure and programs to become leading tourist destinations. With strategic locations, excellent connectivity, iconic attractions like the tallest building, and a commitment to eco-friendly tourism, they are poised for success in attracting visitors from around the world.

DUBAI, UAE - Dubai Chambers has hosted a workshop for commercial attachés of EU Diplomatic Missions to provide them with an overview and key highlights of the UAE's Corporate Tax Law.The workshop, organized  in collaboration with Al Tamimi & Company Law Firm, brought together 13 officials representing the commercial interests...

DUBAI, UAE -  The UAE has topped several global labor market indices issued by international entities and institutions in a new accomplishment that reflects UAE’s pioneering global model for development.The UAE ranked first globally in the Talent Attractiveness Index as per the Global Prosperity Index 2023, issued by the UK’s...

Dubai, UAE -- A total of 3,112 real estate and property transactions, valued at AED 9.4 billion ($2.55 billion), were conducted during the week ending May 12, according to figures released by the Dubai Land Department (DLD). The DLD weekly real estate report noted that 170 plots were sold for...

The firm recorded a net profit of $873 million.