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Parkin record-breaking IPO raises $428m
The offer was oversubscribed 165 times for all tranches combined.
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Sharaka and UK Abraham Accords Group sign agreement
Leaders of the UK Abraham Accords Group and Sharaka will sign a cooperation agreement at a private event at the Crossroads of Civilizations Museum in Dubai. -
Dubai enacts new law on seizure of property for public use
Sheikh Mohammed bin Rashid Al Maktoum, ruler of Dubai and vice president and prime minister of the UAE, issued Law No. (2) of 2022 on the expropriation of property for public use in the Emirate of Dubai. The new Law regulates the procedures for expropriating property for public use. -
2021 best-ever year for DMCC, 2485 companies attracted to Dubai
 Dubai Multi Commodities Centre has said it recorded its best year on record as it attracted 2, 485 companies in Dubai in 2021. The flagship free zone and Dubai government's authority on commodities trade and enterprise also saw its best June, August, September and November, reaching a total of over... -
UAE and Mexico discuss parliamentary cooperation
Dr. Tariq Humaid Al Tayer, Head of the Emirati-Latin American and North American Parliaments Friendship Committee of the Federal National Council (FNC), today met with Mexican Senator Ricardo Monreal to discuss parliamentary cooperation. -
Dubai provides more safeguards for people with special needs or disabilities
Dubai has issued a law that seeks to include the people with special needs or disabilities---known as the people of determination---in the process of drafting and legislation that concern them or may affect their quality of life. The law is aligned with the efforts of the Dubai Government to develop... -
GMG to foray into North Africa
Plans to open more than 100 stores in Egypt within next five years. -
DEWA presses into service 1310 power stations in Dubai
Dubai Electricity and Water Authority (DEWA) has pressed into service 1,310 new 11 kv power distribution stations across Dubai in 2021. -
Dubai ruler issues six decrees regulating Dubai Chambers
Dubai has passed legislations aimed at creating a new legal framework for Dubai Chambers and their Boards of Directors. The legislations are aimed at helping Dubai Chambers achieve their strategic objectives, reinforcing Dubai’s position as a global economic hub, and supporting the business community in the emirate. -
DAFZ unveils “Talent Pass” license
The Dubai Airport Freezone (DAFZ) has launched the ‘Talent Pass’ license for freelance work (self-employment). -
Study to look at green hydrogen alliance between UAE, UK
A new research paper will explore potential green hydrogen collaborations between the United Arab Emirates and the United Kingdom. -
Close to 1800 hybrid vehicles to join Dubai Taxi Corporation
Dubai’s Roads and Transport Authority (RTA) has signed a contract for the procurement of 2,219 new vehicles to enhance the fleet of the Dubai Taxi Corporation (DTC). -
Saudi index varies while UAE stock market starts low
A new year saw quite some ups and downs in the top stock markets in the region, even as the UAE markets adjusted to a Monday-to-Friday workweek. -
Dubai, Malaysia discuss cooperation in tourism sector
The Emirate and the visiting Malaysian minister discussed the initiatives that would enhance the industry. -
Dubai Integrated Economic Zones Authority appoints new leadership team
Dubai Integrated Economic Zones (DIEZ) Authority has appointed a new leadership team to drive its free zones and central divisions. Amna Lootah was appointed as a Director General DAFZ to lead and implement strategic plans according to the approved structure, driven by its vision, mission, and values. Further, Lootah will... -
Gulf Navigation of Dubai to raise $40m via bonds
Gulf Navigation Holding of Dubai intends to raise $40.8 million through convertible bonds, in order to restructure existing sukuks and other debts. -
Atlantic Council to host Global Energy Forum in Dubai
The Atlantic Council has announced that the 2022 Global Energy Forum will now be held alongside Expo 2020 in Dubai from 28-29 March, 2022. -
Dubai records $81 billion worth of real estate transactions in 2021
Dubai's real estate market recorded 84,772 transactions representing a value of AED300 billion ($81 billion) in 2021, according to the annual transaction report issued by the Dubai Land Department (DLD). The report revealed a 65 percent growth in the number of transactions and a 71 percent increase in value compared... -
UAE launches Great Arab Minds initiative to identify, support talent
The Prime Minister of Dubai, Sheikh Mohammed bin Rashid Al Maktoum launched the Great Arab Minds initiative on 4th January, driven by and headquartered at the Museum of the Future, the Emirates’ new global scientific landmark. Great Arab Minds is the Gulf’s largest movement to find exceptional talents among Arab... -
Expo 2020 hits halfway mark, records nearly 9 million visitors
Expo 2020, the world's biggest event since the pandemic, has passed the halfway mark, recording nearly nine million visitors so far. The visits have been boosted by a slate of spectacular events across the December festive season and with more world-class sport, music and cultural performances expected in the second... -
Dubai’s Emaar group to develop shopping mall in Kashmir
The governments of Dubai and Jammu & Kashmir have signed a memorandum of understanding (MoU) to facilitate investment in the proposed project. -
Dubai approves 600 housing loans worth $163m
The loans are to be provided by the Mohammed bin Rashid Housing Establishment as part of housing projects announced last year. -
Dubai government approves budget for 2022-24
Sheikh Mohammed bin Rashid Al Maktoum said the budget supports the Dubai Strategic Plan 2030 and places Dubai at the 'forefront of worldwide efforts to promote recovery'. -
Covid-19 clouds hover over world’s New Year party
As the year drew to a close, the emergence of the Omicron variant pushed the number of daily new Covid-19 cases past one million for the first time. France on Friday became the latest country to announce Omicron was now its dominant coronavirus strain. -
Gulf markets end 2021 on positive note
The Gulf financial markets ended 2021 on the rise, waiting to achieve significant gains next year. -
UAE sets several records as world ushers in 2022
Hope remains for a better new year amidst scaled-back celebrations due to new restrictions aimed at slowing soaring Covid cases. -
2021: Oil price hike rescues Covid-hit GCC economy
International oil prices surged by around 36.5 percent and reached a 7-year peak, exceeding US$ 82 a barrel at the end of November 2021, the highest since October 2014. -
Dubai Racing Club to celebrate #DubaiDestinations initiative on 1 Jan
The Dubai Racing Club announced that its seventh race meeting at the Meydan Racecourse on 1 January 2022 will be dedicated to celebrating the #DubaiDestinations initiative that was launched recently to highlight the exceptional events and activities offered by the emirate. The move is part of the government's efforts aimed... -
Kuwait’s Warba Bank celebrates listing of $250m Sukuk on Nasdaq Dubai
Kuwait's leading Islamic bank, Warba Bank, celebrated the listing of the bank's $250 million perpetual Tier-1 Sukuk on Nasdaq Dubai with the ringing of the market-opening bell by its CEO Shaheen Al-Ghanem. Emirati media reports said this is the third Sukuk listing by Warba Bank on Nasdaq Dubai, following the... -
Dubai launches one-stop-shop online portal for timeshare operators
Dubai’s Department of Economy and Tourism (DET) has launched an online portal that provides a ‘One-Stop-Shop’ for timeshare operators to register and apply for permits and provide insights and guidance to customers and tourists. Local media reports said the Timeshare Portal supports the legal framework created by Dubai’s new Timeshare... -
UAE and Spain discuss cooperation in renewable energy, water sectors
Spain and UAE have reviewed Dubai Electricity and Water Authority's achievements besides key projects and cooperation in the clean and renewable energy sectors. The two sides also discussed initiatives and programs that consolidate the transition towards a green economy and sustainability at a meeting in which said DEWA CEO Saeed... -
Gulf stocks rebound after selloff
The Abu Dhabi index recorded a weekly loss of 4.8 percent, its deepest plunge since March 2020. -
Abu Dhabi National Aquarium is the largest in Mideast
An estimated one million people a year are expected to visit the aquarium housing marine animals in ten distinct habitats under the supervision of marine life experts. -
UAE suspends entry for travelers from Kenya, Tanzania, Ethiopia, Nigeria
UAE citizens are barred from traveling to the four African countries except for the country's emergency treatment cases, official delegations, and scholarships. In addition, the country has introduced new travel requirements for those coming on direct flights from Uganda and Ghana. These include having a negative COVID-19 test obtained within... -
New Dubai adventure: Eco-friendly surfing
What makes Dubai a tourist hub and an essential market for sustainable surfing is the region’s proximity to the sea? Okahina Wave's CEO Laurent Hequily has answers. -
Dubai records $212 million worth of realty transactions on Monday
Dubai’s real estate market recorded 246 sales transactions worth AED610.89 million ($166 million) and mortgage deals of AED151.82 million in addition to 10 gift transactions amounting to AED17.58 million Monday, data released by the emirate’s Land Department (DLD) showed. Local media reports said the sales covered 223 villas and apartments... -
Dubai World Trade Center to become regulator for virtual assets, crypto
The World Trade Center will deliver and oversee a new world-class regulatory framework of Virtual Asset legislative and enforcement policies. -
Dubai emerges as global superyacht capital
Dubai is now home to 15 marinas with more than 3,000 berths, which can accommodate an array of pleasure craft and luxury yachts as well as superyachts and gigayachts. -
Tourism, retail to fuel Dubai economy growth in 2022
The insights from the Dubai Chamber study were released during a business seminar titled The Road Ahead: UAE and Dubai Economic Outlook and Opportunities in Dubai Exports. They pointed to a positive and robust recovery for the UAE economy over the next five years. -
MYCRANE expands to India
The Dubai firm has appointed an exclusive pan-India franchisee. -
Ben Sulayem first non-European president of International Automobile Federation
Mohammed ben Sulayem became the first non-European to be elected president of the International Automobile Federation (FIA) on Friday and succeeds the retiring Jean Todt. The 60-year-old Emirati gained 61.62 percent of the votes cast compared to 36.62 percent for his sole rival Britain's Graham Stoker. The former rally driver... -
Saudi index shines, UAE stocks ripple
Global cues and local developments could not dampen the overall improvement. -
Strategies to enhance Dubai’s security ecosystem reviewed
Digital Dubai is developing the latest strategies and initiatives to enhance the efficiency of the emirate’s integrated security ecosystem. -
Binance may move to Dubai as part of crypto deal
TRENDS broke this news in October. The agreement will regulate the offering, issuance, listing and trading of encrypted assets of the firm that is based in Seychelles. -
UAE and Mauritius stress boosting economic, commercial relations
The UAE and Mauritius have stressed the importance of boosting economic and commercial relations between the two countries. A meeting was held between Mohamed Hadi Al Hussaini, UAE Minister of State for Financial Affairs, and Dr. Renganaden Padayachy, Minister of Finance, Economic Planning and Development of Mauritius, at the Ministry... -
Ruler establishes Dubai Council to deliver Emirate’s future vision
The council will focus especially on boosting the emirate’s leading-edge competitiveness and leadership regionally and internationally. -
Dubai reduces carbon emissions by 33 percent in 2020
Dubai reduced its carbon emissions by 33 percent in 2020, which is more than double the target of the Dubai Carbon Abatement Strategy 2021, said Saeed Mohammed Al Tayer, Vice Chairman of the Dubai Supreme Council of Energy. The Dubai Carbon Abatement Strategy aims to reduce carbon emissions by 16... -
Empower lists on DFM
Empower is the world’s largest district cooling services provider. -
Dubai becomes world’s first paperless government
The Dubai Paperless Strategy was implemented in five consecutive phases, each of which enlisted a different group of Dubai Government entities. -
Stolen Maradona watch found in India
Indian police have recovered a stolen watch customized for star footballer Diego Maradona and arrested a suspect behind the alleged theft in Dubai, officials claimed Saturday. -
Saudi markets rocky, Abu Dhabi index loses ground
The Saudi and Abu Dhabi indices saw a choppy week, while the Dubai markets saw some good gains.