Saudi Arabia's benchmark index finished 1.3% lower, hurt by a 2.1% fall in oil giant Saudi Aramco and a 1.2% decline in country's biggest Islamic lender Al Rajhi Bank.

A 52-year-old Briton has been arrested in Dubai over a $1.7 billion dividend-tax fraud case in Denmark, the Gulf emirate's police said Friday. "Dubai police have arrested Sanjay Shah, a suspect in a 12 billion Danish krone ($1.7 billion) dividend-tax fraud case in Denmark," the police tweeted.

Many GCC airlines have teamed up to create an air bridge to fly the fans to watch World Cup games during November and December, Qatar Airways CEO Akbar Al Baker tells TRENDS.

Restrictions on single-use plastic bags took effect in the United Arab Emirates capital Abu Dhabi Wednesday, as part of its efforts for a "greener future". The "single-use plastic bags ban starts today... to encourage sustainable living in Abu Dhabi", the emirate's media office said. "Retailers in the emirate are encouraged...

The Dubai Building Permit Development Committee has completed the unified electronic platform for building permits, which includes building permit services of all licensing authorities in Dubai. The platform is set to provide distinguished services to consultancy offices and contracting companies, an official statement said. The statement said that the committee,...

Dubai ranked first in the Middle East and North Africa (MENA) region and second in the world in attracting foreign direct investment (FDI) in cultural and creative industries (CCI) in 2021. Dubai attracted 233 new projects in the creative economy in 2021. Surpassing other major cities such as New York, Singapore...

A Dubai Government delegation that visited Dubai Customs was briefed about the department’s experience in budgeting, internal control, and best practices in future foresight and government innovation. Through these visits, Dubai Customs supports its strategic relationships with its partners and builds effective, value-added relationships that contribute to enhancing the corporate...

Even as SMEs in GCC seek to do more to end gender disparity , UAE proactively leads the region in pursuing the diversity agenda, says Marketa Simkova, Partner at KPMG Lower Gulf.

Dubai has recorded 2,884 real estate and properties transactions at the value of AED8.7 billion ($2.36 billion) in total during the week ending 27 May 2022, according to Dubai Land Department (DLD). The DLD weekly report said that 297 plots were sold for AED1.59 billion, as well as 2,116 apartments...

Dubai real estate market recorded 445 sales transactions worth AED 1.06 billion and 76 mortgage deals of AED 1.09 billion ($296 million), in addition to 10 gift deals amounting to AED 23.91 million Wednesday, data released by Dubai's Land Department (DLD) showed. The sales included 411 villas and apartments worth...

Entrepreneurs, lawyers and art dealers are among those flocking to the financial hub in the oil-rich United Arab Emirates, which had refused to join a UN Security Council vote condemning Russia's war.

A United Arab Emirates company signed a contract with the Taliban authorities Tuesday to provide ground handling services at Afghanistan's three airports, officials said, as the country seeks to resume international transit. Capital Kabul's only airport was trashed in August when tens of thousands of people rushed to evacuate as...

Dubai real estate market recorded 552 sales transactions worth AED 1.42 billion ($386 million) and 78 mortgage deals of AED 210.62 million, in addition to 20 gift deals amounting to AED 120.57 million Monday, data released by Dubai's Land Department (DLD) showed. The sales included 427 villas and apartments worth...

Saudi Arabia's main airline will next month start operating weekly international flights from the kingdom's planned futuristic megacity known as NEOM, with Dubai as the first destination, state media reported Monday. The weekly NEOM-Dubai flights operated by flag carrier Saudia will begin "by the end of June 2022, with plans...

Dubai Electricity and Water Authority’s (DEWA)’s Research & Development Centre has registered a new patent for an Unmanned Aerial Vehicles (UAV) charging system that enables continuous charging for UAVs, providing longer flying hours with a large storage capacity. This is in addition to improving the efficiency of charging and facilitating...

The market performed well in 2021, with average home prices and rents increasing by 9.3 percent and 8.3 percent, respectively. Last year's price growth was also the highest since January 2015.

Dubai is among cities that woo huge FDIs and lead in technology transfer in startups, AI and robotics sectors. TRENDS analyzes how it has become Monaco of the region.

The government initiatives make the emirate a safe refuge for both inhabitants and tourists which has fuelled consumer activity. Expat-friendly laws have brighten up the prospects for growth in luxury retail sector.

A total of 2,043 real estate transactions worth AED 7.2 billion ($1.96 billion) were conducted during the week ending 20 May 2022, Dubai Land Department said. A total of 228 plots were sold for AED1.14 billion, while 1,328 apartments and villas were sold for AED3.58 billion. The top three transactions...

Dhows coming from outside the country have been given direct access to local markets, including through Deira Wharfage and Al Hamriyah Port.

In the face of security threats, airport authorities are enhancing technology-based end-to-end solutions in order to detect and mitigate security challenges.

Raford contended that people should invest in video games, as it is the only successful digital economy so far.

A total of 32,564 Instant Licenses have been issued by the Business Registration and Licensing (BRL) unit at the Department of Economy and Tourism (DET) in Dubai since the launch of the initiative in August 2017. While 59 percent of these licenses were professional, 41 percent were commercial. Instant licenses...

Dubai’s Museum of the Future will develop and launch several digital products on the blockchain, starting with the first-ever NFT collection. The collection, named The Most Beautiful NFTs in the Metaverse, and other products will be developed in collaboration with Binance NFT, the NFT marketplace of Binance. The Museum, which...

Dubai real estate market recorded 391 sales transactions worth AED 1.4 billion ($381 million) and 60 mortgage deals of AED 336.86 million, in addition to 57 gift transactions amounting to AED 64.67 million Tuesday, data released by the emirate’s Land Department (DLD) showed. The sales included 342 villas and apartments...

The world's tallest building disappeared behind a grey layer of dust on Wednesday as sandstorms that have swept the Middle East hit the United Arab Emirates, prompting weather and traffic warnings. The 828-metre (2,716 ft, 6ins) Burj Khalifa, which towers over Dubai and is usually visible across the busy financial...

Officials, top executives and experts at the TOP CEO Conference in Dubai brainstorm on ways to stabilise economies and secure health through policy reforms and latest technologies.

Top executives, officials and experts explore ways to strengthen the role of women in regional business dynamics during the TOP CEO Conference 2022 in Dubai.

Defying grim expectations of economic recession battering the world economy, Dubai has burnished itself by attracting a heavy dose of foreign investment to the tune of $7bn in 2021.

The UAE and Saudi stock exchanges posted losses this week, taking cue from the world markets that fell in reaction to galloping inflation, and rate hikes by central banks in many countries.

World-class infrastructure, successful pandemic response and visa and labor reforms have made the city an ideal destination for expats. Also, the UAE’s stable economy persuades foreigners to make Dubai their second home.

Dubai is developing an environment that encourages firms from all industries to innovate. Already, the UAE is home to one-third of fintech startups in the Middle East and North Africa. Moreover, as the region's leading financial hub, Dubai offers financial solutions to over one billion customers throughout the Middle East,...

The final quarter of 2021 provided a major boost to Dubai hotel results, with properties surpassing even 2019 figures across all major KPIs. Occupied room nights in the quarter hit 10.1 million, up 12 percent from 9 million in 2019. Length of stay increased from 3.5 nights to 4.5, a 20...

The locals, residents, and visitors have once again started flocking to museums, historical and heritage sites, and public libraries, according to DCAA data. Trips to these locations totaled 521,753 during 2021, with heritage sites accounting for half of those visits, followed by libraries at 39 percent and museums at 11...

The country will observe a 40-day state mourning with the flag flown at half-mast starting today, the ministry announced, adding that work will be suspended at all ministries, departments, and federal, local and private entities for three days, starting Saturday, May 14.

Losses came in at 3.9 billion dirhams ($1.1 billion) in the 2021-2022 financial year to March, with revenues up 91 percent, as the airline expanded its global capacity and reinstated flights, Emirates said in a statement.

The terminals provides hybrid connectivity with both the Long-Range (LoRa) IoT terrestrial network operated by InfraX, and DEWA's nanosatellites.

The flagship carrier’s chairman, Ahmed Al Maktoum was reported to have announced plans by Emirates to repay 15 billion dirhams ($4.1 billion) in pandemic-related support to the Dubai government

The Chairman of Dubai World Sheikh Ahmed bin Saeed Al Maktoum, inaugurated the 29th edition of the Middle East’s largest travel and tourism exhibition Arabian Travel Market (ATM) on 9 May 2022.

Dubai Electricity and Water Authority (DEWA) has completed 98.83% of its project to extend its water transmission network by 36 kilometers across Dubai, at a total cost of about AED 266 million ($72.42m)

Dubai has announced the establishment of a Debt Management Office that would be responsible for government's financing requirements, managing the sovereign debt portfolio and setting strategic objectives and policies. It will also be responsible for pursuing risks to ensure government financial sustainability, as well as maintaining high levels of transparency...

The emirate attracted 418 greenfield FDI projects, Crown Prince of Dubai Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum said. It ranked first in the Middle East and North Africa region and third globally, up from fourth place last year, in FDI capital inflows.

The company has appointed Hisham Hammoud to the post.

In a week truncated by the Eid holidays across the Middle East, stocks on the UAE exchanges shed gains, while there was no trading in Saudi Arabia because of Eid al-Fitr.

Dubai Electricity and Water Authority (DEWA) is implementing the Mohammed bin Rashid Al Maktoum Solar Park clean and renewable energy project to achieve net-zero emissions by 2050. Mohammed bin Rashid Al Maktoum Solar Park is the largest single-site solar park in the world. The solar park has a planned capacity...

Dubai’s Virtual Assets Regulatory Authority (VARA) will enter into the Metaverse with the establishment of its Metaverse HQ in the dynamic virtual world of ‘The Sandbox’.

The FairBreak Invitational, featuring England captain Heather Knight, West Indies skipper Stafanie Taylor and Pakistan's Sana Mir, opens on Wednesday.

The main Saudi index had a variable week, the Abu Dhabi exchange suffered a slight decline, while, the main index in Dubai closed unchanged.

Dubai has set up a $100 million venture capital fund in order to provide financial support to fintech startup companies. The fund, scheduled to be launched in June 2022, was approved by Crown Prince of Dubai, Sheikh Hamdan bin Mohammed, after a meeting with the executive council.

The new logistics park is scheduled to open in 2023.