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...

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:...

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...

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...

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...

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)...

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.

“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.

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.

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...

"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...

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...

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)...

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...

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...

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...

Abu Dhabi, UAE: The UAE on Tuesday issued three new decisions to further smoothen implementation of the Corporate Tax in the country which is set to come into force on June 1. These include fresh rules on tax grouping, interest capping, and unincorporated partnerships. Younis Haji Al Khouri, Undersecretary of...

Dubai, UAE-- The UAE government has launched an AI-powered chatbot that allows users to access information about government services in one place in Arabic and English. The “U-Ask” platform, a unified AI-powered chatbot, is now available on the official portal of the UAE government. Using generative AI technology, the platform...

"Aside from the obvious things - the construction of museums and large collections - it seems to me that the Emirates are doing a lot of this for the education of young people," he adds, referring to the “Venice Internship program” of the NPUAE that involves Italian interns selected from...

ABU DHABI, UAE  -  The Economic Integration Committee held its second meeting this year and discussed a range of key economic issues, including access to legislation supporting the growth of new economy sectors in the UAE. The meeting was chaired by Abdullah bin Touq Al Marri, Minister of Economy, and...

DUBAI, UAE -  UAE Minister of Energy and Infrastructure Suhail bin Mohammed Al Mazrouei on Tuesday announced the launch of the Global EV Market, a transformational project as per the performance agreements signed by federal authorities in 2022. The project was signed in the presence of Sheikh Mohammed bin Rashid...

Dubai, UAE - The total economic output generated by 63 large-scale events hosted at Dubai World Trade Centre (DWTC) reached $3.53 billion (AED 13 billion) in 2022. Out of this amount, a substantial $2.01 billion (AED 7.4 billion) was retained within the local economy, showcasing the venue's strong contribution to...

Abu Dhabi, UAE -- The UAE pension authority clarified Tuesday that requests related to Shourak scheme, which enables Emiratis to merge end-of-service benefits when switching careers, will only be considered applicable for eligible insured Emiratis who submit their end-of-service employment applications to the General Pension and Social Security Authority (GPSSA)...

Abu Dhabi, UAE - Falcon 40B, the UAE’s first large-scale open-source, 40-billion-parameter AI model launched by Abu Dhabi’s Technology Innovation Institute (TII) last week, soared to the top spot on Hugging Face’s latest Open Large Language Model (LLM) Leaderboard. Hugging Face, an American company seeking to democratize artificial intelligence through...

More than 1,000 private sector executives and members of the Dubai Chamber had joined the path towards reducing global emissions by half by 2030 and reaching zero emissions by 2050, says Al Mubarak, who is also president of the International Union for Conservation of Nature (IUCN).

Dubai, UAE - Dubai on Monday launched a new QR Code initiative for holiday homes, as part of efforts to improve transparency and increase confidence among investors and visitors in the short-term rental market. Launched as part of Dubai's commitment to supporting the continuous growth of the hospitality industry, the...

ABU DHABI, UAE - Abu Dhabi Quality Conformity Council (QCC) has joined Setup in Abu Dhabi, a comprehensive SME enabling platform, to support SMEs, providing local businesses with guidance and services related to export product standards and compliance. Setup in Abu Dhabi was  launched by Creative Zone in 2022 in...

SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) has embarked on a landmark trade mission to India, marking a significant step in strengthening economic ties between the two nations. The trade mission's first leg commenced with the highly successful UAE-India Business Forum held in Mumbai, India's bustling...

The UAE aims to attract more businesses and investments by having a competitive Corporate Tax system that follows international standards and a network of double tax treaties.

Dubai, UAE - The Dubai Financial Market (DFM) on Monday announced the offering of futures contracts on its General Index (DFMGI), which includes the most liquid and largest companies listed on the DFM. The listing and trading of DFMGI futures commenced on Monday. Trading futures contracts on the DFMGI offers...

SHARJAH, UAE - The Sharjah Waste-to-Energy Project, the first of its kind in the Middle East, has strengthened its efforts to divert waste from landfills and contribute to the production of clean energy. Since its launch one year ago, the plant has increased its waste diversion rate from 76 percent...

Dubai, UAE - UAE banks experienced a significant surge in profitability during the first quarter of 2023, according to the latest United Arab Emirates (UAE) Banking Pulse report released by global professional services firm Alvarez & Marsal (A&M).  The report highlights a 35 percent increase in profits compared to the...

The UAE aims to attract more businesses and investments by having a competitive Corporate Tax system that follows international standards and a network of double tax treaties.

Prague, Czech Republic-- The UAE and Czech Republic have held discussions on deepening cooperation in wide-ranging vital sectors of common interest and explore opportunities for trade and investment between the two countries. This occurred in the presence of Ahmed Ali Al Sayegh, Minister of State, and Petr Fiala, Prime Minister...

The UAE's strategic allure for global talent through enticing policies clashes with Saudi Arabia's ambitious Vision 2030, diversifying economy and broadening talent avenues.

Ajman, UAE - The Ajman Chamber of Commerce and Industry (ACCI) has discussed expanding the trade and joint investment with Turkiye at the Ajman-Türkiye Business Forum. Organized by ACCI, the forum acted as a platform for exchanging experiences, expanding business networks, developing partnerships, and leveraging the opportunities available in both...

This aligns with UAE's preparations for COP28 and the UAE Net Zero by 2050 Strategic Initiative, and is a part of RTA's efforts to advance sustainability maturity levels in roads and transportation.

SHARJAH, UAE- The Sharjah Chamber of Commerce and Industry (SCCI) will embark on a trade mission to India on Monday to explore investment opportunities and discuss potential areas for cooperation. Organized by the Sharjah Exports Development Centre (SEDC), Abdullah Sultan Al Owais, Chairman of the SCCI, will lead the mission,...

ABU DHABI, UAE - Minister of Energy and Infrastructure Suhail bin Mohammed Al Mazrouei headed the UAE delegation to the Development Road Conference in Iraq. The one-day conference brought together transport ministers and officials from the Gulf Cooperation Council, Iran, Turkey, Syria and Jordan and representatives of the European Union...

ABU DHABI, UAE -  Emirates Development Bank (EDB), a key financial engine for the economic development and industrial advancement of the UAE, signed a Memorandum of Understanding (MoU) with Paraguay’s Development Finance Agency (Agencia Financiera de Desarrollo, AFD). The signing was witnessed by José Agüero Avila, Ambassador of Paraguay to...

Sharjah, UAE--More than 130 auto and tyre companies from China will take part in the second edition of the "UAE China Tyre & Auto Parts Expo" scheduled to begin next week at the Expo Centre Sharjah. The three-day event, which will begin on 29th May, is a joint endeavour supported...

Ras Al Khaimah, UAE--More than 1,800 new companies have set up their businesses in Ras Al Khaimah Economic Zone (RAKEZ) in the first quarter of 2023, registering a 122 percent jump as against the same period of last year. Ramy Jallad, CEO of Ras Al Khaimah Economic Zone (RAKEZ), said...

New job opportunities are expected to emerge, but only individuals with advanced technological skills and education would be eligible for them. 

The Gulf, with its millions of South Asian residents and migrant workers, is a "huge market" for Bollywood, said industry expert Akshaye Rathi, director of the Aashirvad Cinemas chain. "These kinds of events don't overcome a crisis overnight," Rathi told AFP ahead of the 23rd IIFA, the second edition in...

Dubai, UAE-- Seeking to enhance the emirate's position as a global pioneering city in adopting the latest technology in the building sector, Dubai Municipality has launched a new online system for building permits and control services aimed at streamlining procedures for customers in the emirate. The system is aligned with...

Dubai, UAE - The Gen Z in the UAE has a strong inclination towards hybrid work arrangements, where they can work both remotely and in the office, a recent report by the Oliver Wyman Forum. Gen Z currently constitutes more than a quarter of the global population and will make...

Speaking at an event in New Delhi, Abdullah bin Touq Al Marri, the UAE’s Minister of Economy, said that the partnership between the UAE and India creates trade and investment opportunities for over 3.8 billion people and the solid economic alliance contributes to the vitality of trade and investment flows...

The signing of the UAE-Japan defense cooperation agreement aims to promote transfer of technology, cooperative research, development, and production projects.

RAS AL KHAIMAH, UAE - A top-level delegation from Ras Al Khaimah Economic Zone (RAKEZ) recently concluded its trip to China where it  engaged with numerous business owners across five major cities on the benefits on investing in the emirate. The RAKEZ team interacted with prominent Chinese business owners from...

Dubai, UAE -- A total of 3,321 real estate transactions worth AED11.1 billion ($3.02 billion) were conducted in Dubai during the week ending 26th May 2023, according to figures released by the Dubai Land Department (DLD). The DLD report showed that 220 plots were sold for AED 2.54 billion, 2,398...