Revenue in 2023 grew by 10 percent YoY to $599 million.

The price range implies a market capitalization of $1.63bn-$1.72bn.

Dubai, UAE - The UAE’s foodservice market is poised to reach $19.98 billion in 2024, with further projections indicating a substantial growth trajectory, a whitepaper released by real estate services firm JLL has revealed. The whitepaper highlights the unprecedented growth opportunities within the UAE's Food and Beverage (F&B) industry. The report emphasizes the...

Abu Dhabi, UAE--The MENA region's commercial aircraft services market will more than double in value by 2042, according to Airbus’ latest Global Services Forecast (GSF).Growing to US$28 billion from US$12 billion, and registering a 4.4 percent average annual growth, the regional expansion will surpass the global average growth of 3.6...

Toll usage revenue rose 11.7% YoY to US$502million.

DUBAI, UAE – Dubai International Boat Show has wrapped up following a hugely successful week of high-value boat sales, important discussions addressing industry developments, groundbreaking agreements and partnerships set to shape the future of the yachting world.The exhibition, which concluded on Sunday, is recognized as one of the most influential...

Dubai, UAE - The Middle East has emerged as a prominent player in global CEO appointments, securing 68 out of a total of 1,221 positions at the largest public listed companies worldwide. Heidrick & Struggles revealed in a report titled "Route to the Top 2023". The countries contributing to these appointments...

Dubai, UAE - The International Monetary Fund (IMF) in a report has indicated that the global economy is on course for a soft landing, despite ongoing weaknesses in activity and growth prospects. "The cyclical position of G20 countries has proven stronger than previously anticipated as disinflation has so far proceeded...

Dubai, UAE - The price of Bitcoin on Tuesday surged past $57,000, demonstrating the continued strength of the cryptocurrency market rally. The rise follows Bitcoin's climb above $54,000 on Monday, a milestone not reached since December 3, 2021. The cryptocurrency has been experiencing a bullish trend since January 11, when...

New Delhi, India - India's foreign ministry confirmed on Friday that some of the country's citizens had signed up for "support jobs" with the Russian army and said it was working with Moscow to secure their discharge.The Hindu newspaper reported on Wednesday that around 18 Indians were stranded in various...

Dubai, UAE-- The economy of Dubai would grow around five percent this year, according to Abdul Aziz Abdulla Al Ghurair, Chairman of Dubai Chambers.Speaking to the media on the sidelines of the annual media briefing organised by Dubai Chambers, Al Ghurair said that the recent increase in interest rates would...

DUBAI, UAE – President and CEO of Dubai Chambers Mohammad Ali Rashed Lootah has revealed that 6,478 new Food and Beverage (F&B) companies joined Dubai Chamber of Commerce in 2023, representing year-over-year growth of 19.4 percent.The total number of F&B companies registered with Dubai Chamber of Commerce – one of...

The report stresses the urgent need for MENA news organizations to overhaul business models, adopt digital strategies, and diversify content delivery to seize growth opportunities.

Dubai, UAE-- In the month of May scores of airport developers, officials, and suppliers from around the world will troop into Dubai to participate in the world’s largest annual event dedicated to the airport industry. The 23rd edition of the three-day B2B event at the Dubai World Trade Centre (DWTC),...

Paris, France -- The world needs "trillions" of dollars to spur on the green transition and tackle global warming, the head of last year's COP28 climate talks said Tuesday, warning that political momentum can evaporate without clear action.COP28 president Sultan Al Jaber hailed progress made at UN negotiations last year in Dubai,...

DUBAI, UAE – The airport here has "every chance" of breaking its record for passenger traffic this year after surpassing pre-pandemic levels in 2023, Dubai Airports' CEO told AFP on Monday.Dubai International, the world's busiest airport for international passengers for nearly a decade, hit 87 million visits in 2023, beating the...

Dubai, United Arab Emirates -- World number two Aryna Sabalenka said on Sunday she was "addicted to winning" and hungry for more major glory following her successful title defense at the Australian Open last month.The Belarusian returns to action this week at the WTA 1000 in Dubai to contest her first...

AMMAN, JORDAN – A total of 35 Jordanian companies are taking part in Gulfood 2024, the world's largest annual food and beverage trade exhibition, in Dubai, UAE.The Jordan Exporters Association (JEA) is coordinating the country's participation in the event, which will open next Monday at Dubai World Trade Center.The JEA’s...

Dubai, UAE-- The World Governments Summit (WGS) has ushered in a new decade of positive impact, inspiring governments and societies to join the global community in its ongoing journey to shape the future, according to Hamid Al Zaabi, Director-General of the Executive Office for Anti-Money Laundering and Counter Terrorism Financing...

According to the UAE authorities, the grand temple carved from pink stone spreads over an area of 55,000 square metres and is the largest traditional stone-built Hindu temple in the Middle East. Nearly 3.5 million Indian nationals, the largest expatriate community in the Gulf country, live in the UAE.

The UAE hosted last year's COP28 conference in Dubai, while Azerbaijan will host this year's summit followed by Brazil in 2025. The three countries were mandated by 198 signatories to the Dubai agreement to work together on a roadmap to limit global warming to 1.5 degrees Celsius, a key climate...

World Bank President Ajay Banga said that "what's going on Gaza, but also the challenges of Ukraine... and the Red Sea" are among the top challenges to the global economic outlook. "When you add variables to what is turning out to be probably the lowest growth of the last 55...

DUBAI, UAE- As Houthi attacks roil the Red Sea and Western air raids target the rebels, moves to end Yemen's long-running war are at a standstill, threatening further woe for a country on its knees.As recently as December, painstaking negotiations were gaining ground and the United Nations said the warring parties...

Despite maintaining its ties with Israel since the Israel-Hamas war began in October, the UAE has been at pains to express solidarity with Palestinians as anger mounted in the Arab world over the conflict.

Dubai, UAE - About 63% of respondents in the UAE plan to make EVs their primary mode of transport by 2025, reveals a survey by Al-Futtaim Automotive, a major division of the Al-Futtaim Group and Strategic E-Mobility Partner,The survey indicating a significant shift in UAE residents' perspectives towards electric vehicle...

Despite the last COP in the United Arab Emirates ending with an unprecedented call to "transition" away from fossil fuels, an analysis by the NGO Global Witness based on data from Rystad Energy shows that the upcoming COP29 host aims to hike its gas production from 35 billion cubic meters...

He highlights the UAE's strategic priorities, including the future of fiscal policy, the application of sustainable fiscal policies to foster financial empowerment, trust, and transparency, shaping the future, sustainable development, innovation, boosting economic growth, and fostering competitive business environments.

Dubai, UAE -- In 2023, Dubai Customs managed 46.87 million bags from 206,396 flights, averaging 128,400 bags daily and played a role in the reception of a record-breaking 17.15 million international visitors. The Passenger Operations Department has over 845 inspection officers supported by 77 baggage inspection devices. Ibrahim Al Kamali,...

"The Palestinian economy's dire outlook is worsening as the conflict persists," managing director Kristalina Georgieva told the World Governments Summit in Dubai. "Only a durable peace and political solution will fundamentally change it".

Dubai, UAE  – Al-Futtaim Electric Mobility Company, the official distributor of Polestar in the UAE, have announced the official launch of Polestar 3, the electric SUV.Polestar 3 is also the brand’s first vehicle planned to be produced on two continents – marking a milestone in green mobility in the UAE...

DUBAI, UAE - A total of 3,543 real estate transactions worth over US$2.6 billion (AED9.8 billion) were conducted during the week ending February 9, 2024, according to data released by the Dubai Land Department (DLD).The DLD report showed that 197 plots were sold for US$315 million (AED1.61 billion), while 2,572...

DUBAI, UAE – DMCC successfully concluded its most recent Made for Trade Live tour of the US, hosting events in New York, Brooklyn and Washington DC as it continues to build on growing bilateral trade and investments between the two countries.In 2023, DMCC saw a rise of over 10 percent...

Emaar property sales rose to US$ 11 billion in 2023.

DUBAI, UAE - The total M&A market dropped 15 percent, to US$3.2 trillion, the lowest level in a decade, as dealmakers grappling with high interest rates, regulatory scrutiny and mixed macroeconomic signals had to be more selective about which deals to pursue in 2023.But the biggest obstacle was the gap...

GCC cities such as Abu Dhabi, Dubai and Riyadh showcase dynamic growth, rivalling global metropolises, says Julien Hawari, CEO & Founder of Special Edition and Million.

DUBAI, UAE - The Roads and Transport Authority (RTA) of the Emirate has entered into a strategic partnership with ‘Shamal Holding,’ to undertake the construction of a two-lane bridge in each direction spanning 1500 meters.The bridge extends from Sheikh Zayed Road to Dubai Harbor, an exceptional seafront district that hosts...

Dubai, UAE – The United Arab Emirates is the most popular country for international talent seeking employment visas, a report reveals.  The global HR platform,Deel, has released findings from its Annual Global Hiring Report and revealed UAE attracts a large number of international talent.This marks a significant milestone for the...

Dubai, UAE -- Dubai recorded real estate transactions valued at AED 11.5 billion ($3.13 billion) during the week ending 2 Feb 2024. The sum of transactions was 3,677.A total of 192 plots were sold for AED 2.61 billion, 2,699 apartments and villas were sold for AED 5.75 billion.The top three...

DUBAI, UAE - The total investable wealth currently held in the BRICS bloc amounts to US$45 trillion and its millionaire population is expected to rise by 85 percent over the next 10 years, a report said.  There are currently 1.6 million individuals with investable assets of over US$1 million in...

"Container shipping... has declined by almost 30 percent," said Jihad Azour, director of the IMF's Middle East and Central Asia department, adding that "the drop in trade accelerated in the beginning of this year."

The company recorded its highest-ever revenue of AED 2.2 billion.

The aim is to develop EV charging facility in the UAE.

Turkish Airlines will take on lease 10 Boeing 737-8 aircraft.

DUBAI, UAE - Dubai’s Roads and Transport Authority (RTA) has awarded a contract to upgrade the existing nol (card-based ticketing system) to a sophisticated, central wallet technology (account-based ticketing system), aligning with the top global practices.This project, which requires an investment of US$95 million (AED350 million), is one of the...

Dubai, UAE -- Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum Sunday launched the ‘Dubai International Growth Initiative’, allocating AED500 million to accelerate the expansion of small and medium-sized enterprises (SMEs) established in Dubai into global markets. The initiative was launched by the Government of Dubai in...

DUBAI, UAE - Dhai Dubai, the first-ever Emirati-led light art festival, has launched its illuminating 10-day program at Expo City Dubai.The event celebrates the rich artistic tapestry of Emirati through a series of awe-inspiring artistic projections, interactive installations, enlightening talks and creative workshops.The free-to-attend festival is created and organized by...

DUBAI, UAE – Developments in Artificial intelligence (AI) have been impacting businesses, governments and economies across the world. Advancements in AI, especially generative AI (GenAI), are leading to a once-in-a-generation shift.The Cisco AI Readiness Index has revealed that 95 percent of respondents have an AI strategy in place or under...

Dubai, UAE -- The real estate and properties transactions valued at AED 14.2 billion ($3.86 billion) in total during the week ending 26 January 2024. The sum of transactions was 4,123.A total of 312 plots were sold for AED 2.95 billion, 2,696 apartments and villas were sold for AED 5.84...

Yemen's Iran-backed Houthi rebels fired three missiles at two merchant ships in the Red Sea in their latest attack in the commercially vital waterway, the White House said. The report came after the Houthis vowed to keep up their attacks despite repeated US and British strikes against them.

DUBAI, UAE - With support from the Abu Dhabi Investment Office (ADIO), Hub71-backed ABHI, an embedded finance platform founded in Pakistan, is advancing to its next growth stage by establishing its global HQ in Abu Dhabi to grow its international operations.ABHI joined Hub71, Abu Dhabi’s global tech ecosystem, in 2022...