DUBAI, UAE - Dubai International Chamber (DIC), one of the three chambers operating under Dubai Chambers, has launched the International Partners Network, a platform to enhance cross-border dialogue and cooperation between DIC and trade promotion agencies, commercial attaches and business councils.The launch of the network was attended by over 100...

Dubai, UAE -- Dubai International Chamber, one of the three chambers operating under Dubai Chambers, has attracted five Multinational Corporations (MNCs) and 20 Small and Medium-sized Enterprises (SMEs) during Q1 2023 alone, which is more than the number attracted during the entire year 2022. In addition, the chamber also supported...

Dubai, UAE: Dubai Electricity and Water Authority (DEWA) on Thursday received two bids from ACWA Power and Masdar with the latter submitting the lowest bid of $1.62154 cents per kilowatt hour (kWh) for the 1,800MW 6th phase of the Mohammed bin Rashid Al Maktoum Solar Park. The arrangement will be based...

Dubai, UAE:  The UAE’s target of attracting 40 million tourist visits by 2030, and its subsequent economic contribution of AED 450 billion ($123 billion) to the country’s national GDP, will further boost the leisure and entertainment (L&E) sectors of both the nation and the region, Fever, the leading global live-entertainment...

DUBAI, UAE - The World Bank raised its global growth forecast for 2023 to 2.1 percent (in June 2023) from 1.7 percent  (in January 2023), thanks to greater-than-expected flexibility in major economies.In its latest report released in June 2023, the World Bank also expected the global growth to reach 2.4...

Dubai, UAE -- A total of 30 startups were attracted to Dubai by the Dubai Chamber of Digital Economy in the first quarter of 2023, the Chamber said Tuesday.Dubai Chamber of Digital Economy, one of the three chambers operating under Dubai Chambers, said it cooperated with relevant government entities to...

Dubai, UAE -- Dubai Financial Market (DFM) saw on Monday a direct deal on 5.25 million shares of Taaleem Holding Group worth AED 17.16 million ($4.65 million).The Group's share closed 7.78 percent higher at AED 3.6 ($0.98) after trading of more than 32 million shares at the value of AED...

Dubai, UAE -- Dubai Multi Commodities Centre (DMCC) Monday announced a partnership with Dubai-headquartered cryptocurrency exchange Bybit, in which the exchange will provide financial support totaling AED 500,000 for new crypto businesses looking to set up at the region’s largest community of Web3 and blockchain businesses – the DMCC Crypto...

Dubai, UAE -  Around 70 percent of top-performing teams in the GCC have a higher percentage of women, underscoring the positive impact of gender diversity on organizational success, a survey by Bain & Company has revealed. Leading the way in this transformation are the United Arab Emirates (UAE) and Qatar, while...

Vienna,  Austria – OPEC+ has decided to adjust the level of overall crude oil production to 40.46 mb/d, starting 1 January 2024 until 31 December 2024.This was announced by the global organisation in a statement following the 35th OPEC and non-OPEC Ministerial Meeting in Vienna today.According to the statement, OPEC...

DUBAI, UAE - US special climate envoy John Kerry has met senior Emirati officials in Abu Dhabi, including the head of the United Nations' upcoming climate change conference, official media reported on Sunday.The choice of Sultan Al Jaber, chief executive of the Abu Dhabi National Oil Company (ADNOC), to head December's...

DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) extended water transmission pipelines of 64 kilometers lengths in several areas here in 2022 at a cost of around US$97 million (AED 358 million).The pipelines have a diameters of 600, 900 and 1200 mm in different areas across Dubai.The transmission pipeline...

Dubai, UAE - Middle Eastern airlines carriers posted a 38 percent increase in traffic in April compared to the same month in 2022, demonstrating a positive recovery trend in the aviation industry,  according to the latest report from the International Air Transport Association (IATA). With a capacity increase of 27.8 percent,...

Dubai, UAE - Dubai has scrapped the 10-day grace period for visitors whose tourist visas have expired, Arabian Business reported on Friday. Previously, individuals who overstayed their visas were allowed an additional 10 days in Dubai before facing penalties. However, Dubai has now followed other emirates in removing this grace period.Instead,...

Dubai, UAE - Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum on Thursday approved the new futuristic development masterplan of Palm Jebel Ali. Part of the Dubai 2040 Urban Master Plan, Palm Jebel Ali is one of a series of projects being undertaken by Dubai-based real estate master developer...

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.