The Bank’s total income reached AED 1.2 billion ($326.69 million)

Dubai, UAE--DMCC has kicked off the ninth edition of its global trade roadshow, Made For Trade Live, in London, seeking to attract a greater amount of foreign direct investment (FDI) from the United Kingdom. DMCC is the world’s flagship free zone and Government of Dubai Authority on commodities trade and...

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.

ABU DHABI, UAE - On the second day of the sixth edition of UMEX and SimTEX 2024, the accumulated value of deals signed on behalf of the Emirates Ministry of Defense (MoD) reached US$255 million (AED939 million). This was announced during a press conference held on Wednesday by Tawazun Council's...

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...

Abu Dhabi, UAE - EDGE Group entity Milrem Robotics signs a contract to supply 20 tracked robotic combat vehicles (RCVs) and 40 THeMIS unmanned ground vehicles (UGVs) to the United Arab Emirates (UAE) Ministry of Defense. EDGE Group said in a statement that the agreement represents the world's largest combat...

DUBAI, UAE - Dubai consolidated its status as a central hub for international business events in 2023, with the city winning a record 349 bids to host international conferences, congresses, meetings and incentive travel programs. Driven by Dubai Business Events (DBE), the city's official convention bureau, the wins reflected a...

The rigs use high-capacity battery to reduce emissions.

They will establish e-methane supply chain from UAE-Japan.

Abu Dhabi, UAE-- The UAE President Sheikh Mohamed bin Zayed Al Nahyan has issued a law, as the ruler of Abu Dhabi, establishing the Artificial Intelligence and Advanced Technology Council (AIATC) for developing and implementing policies and strategies related to research, infrastructure and investments in artificial intelligence and advanced technology...

SHARJAH, UAE - Alef Group concluded its participation in the ACRES Real Estate Exhibition 2024 with resounding success, generating significant demand and securing approximately US$84 million (AED310 million) in sales transactions for its residential projects. CEO of Alef Group Issa Ataya said, “ACRES was a good opportunity to connect with...

Sharjah, UAE -- Real estate deals worth more than AED 1.4 billion ($381 million) were inked at ACRES 2024, organized by the Sharjah Chamber of Commerce and Industry (SCCI) and Sharjah Real Estate Registration Department (SRERD). The exhibition, which was held from Jan 17-20, was attended by citizens, residents, investors,...

Abu Dhabi, UAE -- The UAE recorded the second-highest increase in the number of new foreign investment projects around the world after the US in 2023, a report by the United Nations Conference on Trade and Development (UNCTAD) said. The number of these projects increased by 28 percent compared to...

Nearly two-thirds (59 percent) of business leaders in the UAE express their commitment to increasing investments in advanced technology, says a latest report.

DUBAI, UAE - In an age where data is a cornerstone of modern healthcare, the industry faces an escalating threat from cyber criminals seeking unauthorized access to sensitive information. Kingston Technology, a player in memory products and technology solutions, is urging healthcare entities to bolster their defenses against rising cyber...

"Governments should design solutions to face these challenges rather than ignoring them, leveraging the positive effects and significant opportunities presented by adopting these solutions. It is crucial to shift the negative perception of artificial intelligence today, fostering a new view of the opportunities and challenges it presents," he adds.

DUBAI, UAE - The real estate and properties transactions valued at US$3.5 billion (AED13 billion) in total during the week ending January 19 2024. The sum of transactions was 3,697 and 184 plots were sold for US$547 million  (AED 2.01 billion), 2,770 apartments and villas were sold for US$2 billion...

Dubai, UAE--The first edition of the Japan Kyoto Trade Exhibition 2024 is all set to kick off this Monday, 22nd January, at Dubai World Trade Centre. The three-day exhibition, jointly hosted by the governments of Kyoto, Japan, and the Department of Economy and Tourism in Dubai (DET), is expected to...

Dubai, UAE - Against the backdrop of the World Economic Forum in Davos, Whiteshield announces the release of the Global Labor Resilience Index (GLRI) 2024. As the world confronts the profound challenges of global warming and the urgency of transitioning to a sustainable future, the impact on labor markets looms large,...

Abu Dhabi, UAE -- EDGE, one of the world’s leading advanced technology and defense groups, has announced that it will conduct a six-month trial on a major public security initiative with the São Paulo state government. The partnership was announced during a high-level delegation visit by senior government members to...

Sharjah, UAE--The Sharjah Chamber of Commerce and Industry (SCCI) has held discussions with the Arab Authority for Agricultural Investment and Development (AAAID) to support business community and foster trade and investment between the two entities. The discussions took place at the chamber's headquarters, where Abdullah Sultan Al Owais, Chairman of...

Davos, UAE - The UAE has announced plans to develop the first-ever sustainability accreditation framework explicitly for micro, small and medium-sized enterprises (MSMEs). EcoMark Global Accreditation has been designed to boost the competitiveness of MSMEs in the global green economy by streamlining and standardizing the regulatory processes surrounding sustainability benchmarking...

Dubai, UAE - Gold prices extended losses on Wednesday as the US dollar strengthened after comments from a Federal Reserve official dampened expectations for a March interest rate cut, Reuters reported. Spot gold was down 0.2% at $2,023.49 per ounce, as of 0415 GMT, after stooping 1.3% in the previous...

Abu Dhabi, UAE--The Central Bank of the United Arab Emirates (CBUAE) saw its balance sheet soar to $182.43 billion at the end of November 2023, marking a significant surge in its financial strength. This impressive growth is revealed in the bank's latest balance sheet report. The report highlights a robust...

DUBAI, UAE – Emirates will hire 5,000 people as it awaits the arrival of its fleet of Airbus A350s. The airline is inviting fresh graduates with internships or part-time jobs on their résumés, those with a year or so of hospitality or customer service experience, and individuals keen to embark on...

The 2023 annual net profit rose 14 percent from 2022.

Dubai, UAE--The Dubai Electricity and Water Authority (DEWA) has laid over 364 kilometres of fibre optic (FO) ducts across different areas in Dubai in 2023. The expansion has increased the total length of these cable ducts to 3,998 kilometres, a 10% increase compared to 2022. This initiative aligns with DEWA's...

According to Tatiana Leskova, Associate Director of Corporate Ratings at Standard and Poor's Global Ratings that the global economy while remaining subdued, operating at subpar growth levels, S&P estimates that UAE GDP expanded at over 3 percent in 2023, including close to 6 percent growth for the non-oil sector”.

Dubai, UAE - Dubai saw record-breaking sale prices throughout 2023, with super-luxury residences selling for up to US$4,000 (AED14,692) per square foot, marking consecutive year-over-year increases since 2020, according to the 2024 Sotheby’s International Realty (SIR) Luxury Outlook Report. For the past two or three years post-Covid lockdowns, high-net-worth buyers...

DUBAI, UAE - Nasdaq Dubai has welcomed the listing of a US$600 million green bond by China Construction Bank (DIFC Branch). The green bond issuance targets combating climate change, represents China Construction Bank's significant commitment to sustainable financing and highlights the growing synergy in green financing between China and UAE....

It commissioned 1,414 substations of 11kv in Dubai.

In the GCC's evolving cybersecurity realm, AI integration is crucial, driving economic growth and transforming defense strategies against complex cyber threats.

The deal signifies PureHealth’s operational capabilities.

DUBAI, UAE - Worldwide PC shipments totaled 63.3 million units in the fourth quarter of 2023, a 0.3 percent increase from the fourth quarter of 2022, according to preliminary results by Gartner, Inc. This marks the first time that quarterly shipments have increased after eight straight quarters of decline, a...

Dubai, UAE -- The real estate and properties transactions valued at 10.1 billion ($2.74 billion) in total during the week ending 12 January 2024. The sum of transactions was 2,910. A total of 209 plots were sold for AED 2.19 billion, 2,100 apartments and villas were sold for AED 4.84...

The two will acquire 40.5% stake in the Egyptian firm.

DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) announced that its customers conducted around 12.5 million digital transactions in 2023, compared to around 10 million digital transactions in 2022, an increase of about 25 percent. This reflects DEWA’s leading role in supporting the leadership’s vision to make Dubai the...

Dubai, UAE – Sales of properties worth more than $1.35 million and $2.70 million in Dubai hit record levels in 2023, reaching 10,296 and 3,806, up 54.5% and 68.4% from a year earlier, respectively, says CBRE in its study. Off-plan sales in both segments of the market have been the primary...

DUBAI, UAE - Yemen's Houthi rebels, who vowed to retaliate against US and British strikes early on Friday against key military sites, have built up a significant arsenal, including cruise missiles and drones. Since the Israel-Hamas war broke out on October 7, the Iran-backed Houthis have carried out a spate of...

ABU DHABI, UAE - Lunate Capital announced the launch of the Chimera SP India Shariah ETF, a physical, in-kind, liquid, and fully fungible exchange traded fund, that will list on the Abu Dhabi Securities Exchange (ADX). Lunate Capital is an Abu Dhabi-based management company licensed by the Securities and Commodities...

ABU DHABI, UAE - The Central Bank of the UAE (CBUAE) has cancelled the license of First Insurance Brokers Company (First Insurance), an insurance company operating in the UAE. CBUAE struck First Insurance’s name off the Register, pursuant to Article 22 (2) of the Board of Directors Resolution No.15 of...

Subsidiaries of TASNEEF were also acquired.

Manama, Bahrain – Morocco became the fifth country to join the UAE, Jordan, Egypt and Bahrain at the fourth meeting of the Higher Committee of the Industrial Partnership for Sustainable Economic Development which began on Thursday here. The Executive Committee of the now five country partnership held meetings with officials,...

Sharjah, UAE--The Sharjah Chamber of Commerce and Industry (SCCI) and the Chamber of Commerce and Industry of Sfax, Tunisia, held a meeting to discuss advancing cooperation and joint efforts to further develop the relations between the two countries' business communities. The meeting touched on exchanging commercial delegations, holding joint events...

Dubai, UAE-- The UAE and Costa Rica have concluded negotiations to sign a comprehensive economic partnership agreement. In this connection, Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and Manuel Tovar, Minister of Foreign Trade of Costa Rica, have signed a joint statement to confirm...

The ministers taking the oath of office were Dr Amna bint Abdullah Al Dahak Al Shamsi who was appointed as Minister of Environment and a member of the UAE Cabinet; Mohamed Mubarak Fadhel Al Mazrouei, the new Minister of State for Defense Affairs and member of the UAE Cabinet; and...

DUBAI, UAE -  Rory McIlroy kicked off his year with a sparkling nine-under-par 62 to take a two-stroke lead after the first round of the Dubai Invitational on Thursday. The world number two is playing his first event since the DP World Tour Championship last November, which was also played in...

Oman emerges top performer in the GCC region.

ABU DHABI, UAE - First Abu Dhabi Bank (FAB) has issued a five-year US$800 million Sukuk at US Treasury +85bps, which resulted in an all-in yield of 4.779 percent. This marks the first Sukuk issued globally in 2024 and stands as the region's first offering for the year. The final...

Dubai, UAE--The Federal Tax Authority (FTA) has signed an agreement with Etihad Credit Bureau to enhance tax compliance in the UAE. The agreement aims to establish an electronic link between the two entities, enabling the Authority to directly access credit reports provided by the Bureau, using them to strengthen compliance...