Loyalty Lost: How brands need to adapt to the modern traveler
Dubai, UAE: As 2025 unfolds, travel brands are facing a significant challenge: customer loyalty. Traditional rewards programmes, often based on points systems, struggle to meet the expectations of modern travelers who increasingly value personalised experiences over generic incentives. To stay competitive, brands must move away from price-based rewards like discounts, which can...
Tom Cruise coming to Abu Dhabi’s for Middle East premiere of Mission Impossible
Abu Dhabi, UAE -- Abu Dhabi will host the Middle East premiere of the eagerly-awaited Mission: Impossible – Dead Reckoning Part One at a red-carpet event at Emirates Palace on June 26 to be attended by the movie’s cast and crew, including star Tom Cruise and director Christopher McQuarrie.Both the...
UAE, Egypt sign US$10bn deal to build Africa’s biggest wind farm
A consortium of companies, Masdar, Infinity Power and Hassan Allam Utilities have signed an agreement with Egypt to build a 10-gigawatt (GW) capacity onshore wind farm in Egypt, costing more than US$10 billion. The 10 GW plant will save Egypt some $5bn in natural gas costs a year.
Bybit partners with Sharjah varsity to boost crypto adoption in UAE
Sharjah, UAE - Bybit, the world’s third most visited crypto exchange, will contribute AED 1 million ($272,257) via a partnership with the American University of Sharjah (AUS) in a move to advance crypto adoption in the UAE. The partnership will see the establishment of a scholarship fund that is likely...World Bank lowers MENA’s growth forecast to 2.2 percent in 2023
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...
UAE highlights efforts in space sector at UN committee meet
ABU DHABI, UAE - A high-level UAE delegation at the 66th session of the United Nations Committee on the Peaceful Uses of Outer Space (COPUOS) said the country believes in promoting a safe and sustainable outer space environment.The UAE delegation is headed by Omran Sharaf, Assistant Minister of Foreign Affairs...UAE looks to deepen trade and investment ties with Vietnam
Hanoi, Vietnam-- With an eye on boosting trade and economic ties between the two countries, the UAE has formally begun negotiations toward a Comprehensive Economic Partnership Agreement (CEPA) with Vietnam.The agreement once it has been completed will push the bilateral non-oil trade between the UAE and Vietnam beyond US$8.7 billion.Leading...Foreign companies to pay Corporate Tax on immovable property income: UAE
Abu Dhabi, UAE - Foreign companies and other non-resident juridical persons will be subject to UAE Corporate Tax on income derived from real estate and other immovable property located in the UAE and will be required to register in the UAE for Corporate Tax purposes, the UAE Ministry of Finance...National Bonds ups stake in Taaleem
With a 22% stake, it is now the biggest stakeholder in the firm.
Direct deal on Taaleem Holding Group shares nets $4.65m on DFM
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...Air Arabia to double fleet
The plan will boost Abu Dhabi's tourism market.
DMCC-Bybit partnership to boost adoption of crypto, Web3 in Dubai
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...
TRENDS poll: Technology most booming GCC sector
Tourism and Finance were the next flourishing sectors named in the poll in which the majority of the respondents were in the 20-29 age group and mostly from Egypt.RAKEZ launches Traders District as a one-stop solution
RAS AL KHAIMAH, UAE - Ras Al Khaimah Economic Zone (RAKEZ) has announced the launch of Traders District to support the thousands of traders thriving in its business ecosystem.It is designed to offer traders a host of benefits, including business set-up solutions, simplified access to global supply chains, networking and...
Qatar, UAE lead GCC in women participation, women catching up in Saudi
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...
SEWA concludes extension of ‘crucial’ pipeline to supply fresh water
Sharjah, UAE-- In order to supply water from Al Zubair station to Al Shanouf suburb, Sharjah Electricity Water and Gas Authority (SEWA) has concluded the extension project of a crucial main pipeline with a diameter of 800mm.This significant endeavour, initiated in mid-July 2022, utilised environmentally friendly materials to ensure water...Opec+ to extend cuts in oil output into 2024 as prices flag
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...
OPEC+ update: Saudi oil output cut likely to worsen fears of recession
Analysts had largely expected OPEC+ producers to maintain their current policy, but signs emerged this weekend that the 23 countries may make deeper cuts.US official meets UAE diplomats to discuss climate change
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...
Sharjah Chamber concludes successful 5-day trade mission to India
SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) has successfully concluded its trade mission to India after five days of fruitful meetings and discussions with Indian business and industrial associations in New Delhi and Mumbai.The trade mission, organized by the Sharjah Exports Development Center, visited New Delhi...
Workshops on suspicious transactions in gold, precious stone sector in UAE
ABU DHABI, UAE - UAE Ministry of Economy organized two workshops, in Arabic and English, to promote the awareness of suspicious transactions among traders and business owners in the gold and precious stones sector.The workshops, through the Department of Anti-Money Laundering, also made the traders and business owners aware of...
EDB inks MoU with ADDED to enhance support for Financial Support Program
Abu Dhabi, UAE--Emirates Development Bank (EDB) has signed a memorandum of understanding (MoU) with the Abu Dhabi Department of Economic Development’s Industrial Development Bureau (IDB) to continue its support of the Financial Ecosystem Programme.The MoU signing took place on the first day of the at Make It in the Emirates...GCC feeds growing appetite for catering services
Rising disposable incomes, demand from businesses and events, online food delivery services, and increased tourism are driving the growth of Gulf catering services market.Jewels of Emirates continues to attract visitors on third day
SHARJAH, UAE- The fourth edition of Jewels of Emirates Show at the Expo Center Sharjah has so far seen record footfall as it runs into its third consecutive day.The event received an overwhelming response from visitors, with exhibitors unveiling a stunning array of exclusive and rare jewelry pieces.It also showcased...
Iran, Saudi Arabia, UAE, Iraq, other regional powers plan naval coalition
Iranian Navy Commander Rear Admiral Shahram Irani has declared the formation of a new naval coalition. This alliance, encompassing regional powers like Saudi Arabia, UAE, Qatar, Bahrain, and Iraq, aims to enhance maritime security and underlines the increasing recognition of the need for regional synergy in establishing security.DEWA extended 64km water transmission pipelines in 2022
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...Middle Eastern Airlines post 38% rise in traffic in April 2023
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,...AstraZeneca’s new cancer medication Imjudo launched in UAE
Abu Dhabi, UAE -- AstraZeneca has announced the launch of its revolutionary cancer medication, IMJUDO® (tremelimumab) in the UAE.The launch makes the UAE one of the first countries in the Middle East to receive access to the medication that marks a significant advancement in the treatment of cancer.Clinical trials have...
UAE economy to grow 4.2% in 2023, says Arab Monetary Fund
Abu Dhabi, UAE -- The UAE's economic growth is expected to remain robust, averaging 4.6 percent from 2022 to 2024, driven by higher oil prices and improved business confidence, according to the Arab Monetary Fund (AMF). The AMF's "Arab Economic Outlook Report" forecasts a 4.2 percent growth rate for the...RAKEZ presents benefit of investing in UAE industrial zones
RAS AL KHAIMAH, UAE - Ras Al Khaimah Economic Zone (RAKEZ) successfully participated in the second edition of the Ministry of Industry and Advanced Technology's (MoIAT) Make it in the Emirates Forum.The forum brought together industry leaders, government officials and prominent stakeholders to discuss the role of industrial zones in...
MoIAT inks MoU with MEXT to implement industrial transformation Index
ABU DHABI, UAE - The Ministry of Industry and Advanced Technology (MoIAT) and MEXT signed a memorandum of understanding (MoU) to implement the UAE’s Industrial Technology Transformation Index (ITTI) and deploy the index overseas for the first time.The move is part of the UAE's efforts to accelerate decarbonization and digitalization...
Thales launches initiative to promote UAE-made products, expertise
Dubai, UAE -- French multinational aerospace and defense technologies company Thales has launched 'Go to UAE' initiative with the support of UAE's Ministry of Industry and Advanced Technology to promote Made-in-the-Emirates mark products and expertise worldwide, and developing a skilled local talent pool, as part of the Make it in...
Dubai tourist visa: 10-day overstay grace period abolished
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 approves Palm Jebel Ali masterplan, twice the size of Palm Jumeirah
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...Jewels of Emirates Show begins in Sharjah
SHARJAH, UAE - The fourth edition of the Jewels of Emirates Show, the first Emirati exhibition dedicated to diamond jewelry, gold, silver, pearls, luxury watches, and perfumes commenced here on Thursday.The Expo Center Sharjah with the support of the Sharjah Chamber of Commerce and Industry (SCCI) is hosting the event.Leading...
UAE and Switzerland to enhance cooperation between judiciaries
Abu Dhabi, UAE - The UAE and Switzerland have discussed opportunities for cooperation between the Abu Dhabi Public Prosecution Office and the Swiss Public Prosecution Office and the means to develop the services provided.Ali Mohammed Alblooshi, Attorney-General of Abu Dhabi, met with Stefan Blatler, Attorney-General of Switzerland and Massimo Badji,...UAE exports to reach $544bn by 2030, says Standard Chartered report
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...
First Abu Dhabi Bank prices $600 million five-year green bond
Dubai, UAE -- First Abu Dhabi Bank (FAB) has raised $600 million from an offering of a five-year bond, which is the first green bond issued by a financial institution in the MENA region in 2023.The green bond was upsized to $600 million from the initial $500 million after the...MoIAT, Shahin sign strategic partnership to enhance UAE’s green mobility
ABU DHABI, UAE - UAE Ministry of Industry and Advanced Technology (MoIAT) has signed a Letter of Intent (LoI) with Shahin in a move towards sustainable industrial development and promoting electric mobility.The LoI, signed at the Make it in the Emirates Forum on Wednesday, underlines the country’s commitment to decarbonization...
Dubai’s main investment arm ICD posts record $9.8bn in net profit for Q1
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,...
UAE Economy Ministry fines 137 companies for AML/CFT violations
Dubai, UAE -- A total of 137 companies operating from the UAE were fined AED65.9 million for failing to comply with the anti-money laundering and combating the financing of terrorism (AML/CFT) legislation.The Ministry of Economy fined these companies, which are operating in the UAE's non-financial business or professions (DNFBP) sector,...
UAE’s ADNOC Logistics surges 50 percent in share float
Shares in UAE state oil company ADNOC's logistics unit soared 50 percent as they hit the market in a $769 million initial public offering on Thursday. The listing comes just weeks after ADNOC floated its gas unit in a $2.5 billion IPO in March.
‘UAE rising as a key player in global hospitality’
“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.
UAE implements corporate tax amidst mixed reactions
Some experts deem the tax rate reasonable in global context, while others remain concerned about challenges the new tax regime could pose for family-owned businesses.
ADNOC signs deals with 60 firms to produce key non-oil products in UAE
Abu Dhabi, UAE - ADNOC signed deals with more than 60 UAE-based and international companies to locally manufacture key non-oil products in its supply chain, local media reports said.The deals were signed at the Make it in the Emirates Forum in Abu Dhabi, and bring ADNOC closer to its target...UAE withdraws from US-led coalition that secures Gulf waterways
"As a result of our ongoing evaluation of effective security cooperation with all partners, two months ago, the UAE withdrew its participation in the Combined Maritime Forces," a statement carried by the official WAM news agency said. The Bahrain-headquartered CMF was established in 2001, initially as a partnership between 12...Flat6Labs invests $10.2m in Abu Dhabi start-ups
Dubai, UAE - Flat6Labs, a seed and early-stage venture capital firm in the MENA region, has invested $10.2 million in start-up funding in Abu Dhabi. The investments were made through the Flat6Labs Ignite Program, which is a specialized seed program dedicated to supporting start-ups in Abu Dhabi.The program, in partnership...
TAQA, ENGIE complete financial closing for UAE’s mega desalination plant
Dubai, UAE -- Abu Dhabi National Energy Company (TAQA) ENGIE, a global leader in low-carbon energy solutions, and Emirates Water and Electricity Company (EWEC), announced the successful financial closing of the AED2.3 billion ($620 million) low-carbon Mirfa 2 Reverse Osmosis (M2 RO) desalination project.The project is primarily (78 percent) funded...Palm Jumeirah penthouse sells for a staggering $60m
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...UAE is a reliable trade partner: Iranian foreign minister
Tehran, Iran-- Terming the UAE as a reliable trade partner, Iran's Foreign Minister Hossein Amir Abdollahian said bilateral between the two countries are developing in both government and private sectors.He made the remarks during a meeting with Khalifa Shaheen Al Marar, Minister of State of the UAE on Tuesday afternoon....Dubai holds trial of drone delivering medicine in public-private sector tie-up
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...
