Saudi Arabia normalizing ties with Israel ‘will happen’: Trump
"Saudi Arabia will go into the Abraham accords," Trump said, referencing the historic agreement struck at the end of his first term in 2020, which saw United Arab Emirates, Bahrain, Sudan and Morocco normalize relations with Israel.
Khalifa Fund partners with Wio Bank
Wio will offer Khalifa members full digital account onboarding.Strong fraud detection boosts security of UAE banks
"The UAE is well positioned to further strengthen its leadership in combating fraud, with continued investment in technology, training and collaboration. Besides, the National Cybersecurity Strategy contributes to enhancing the integrated system by implementing many initiatives," he adds.UAE ministry calls on eligible employees to subscribe to the low-cost job security net
Dubai, UAE – The UAE Ministry of Human Resources and Emiratisation (MoHRE) has called on eligible employees to subscribe to the Unemployment Insurance Scheme, which aims to provide a low-cost job security net that supports the career path of employees in the UAE at no additional cost to employers.The Ministry...Iran invites UAE businesses to invest in transportation projects
Abu Dhabi, UAE-- Iran is keen to boost transportation ties with the UAE and has invited investors from the country to take part in transportation projects in the Islamic Republic.In this connection, Iran Minister of Roads and Urban Development, Mehrdad Bazrpash, met with Sheikh Mansour Bin Zayed Al Nahyan, the...AD Ports Q1 revenue is $494m
The group's EBITDA also rose by 33 percent YoY.UAE issues decree on use and distribution of hydrofluorocarbons
Dubai, UAE-- The UAE's Ministry of Climate Change and Environment has issued a decree on the use and distribution of hydrofluorocarbons (HFCs) in order to control their circulation and emission into the air.The decree aligns with the UAE's preparations to host the 28th Conference of the Parties to the United...Dubai records over $544 million in real estate transactions
Dubai, UAE -- Dubai real estate market has recorded deals worth AED 2 billion ($544 million) on Monday, Dubai Land Department said.The deals include 638 sales transactions worth AED 1.79 billion, in addition to 116 mortgage deals of AED188.46 million, and 17 gift deals amounting to AED 29.45 million.The sales...UAE invites Syrian President to COP28 summit in Dubai
The United Arab Emirates has invited Syrian President Bashar al-Assad to attend the UN climate summit in Dubai later this year, Syrian state media said. Assad's first invitation to a global summit since the start of Syria's war in 2011 comes as the Arab world warms to Damascus after a...FAB summit explores economic opportunities, net zero transition
ABU DHABI, UAE - First Abu Dhabi Bank (FAB) is hosting a one-day summit that brings together aviation thought leaders and industry stakeholders to explore economic development opportunities as the sector transitions to net-zero. The Aviation Sector Summit, held in collaboration with Boston Consulting Group (BCG), consist of talks, panel...Dubai Supreme Council reviews progress in clean energy projects
DUBAI, UAE - Chairman of the Dubai Supreme Council of Energy Sheikh Ahmed bin Saeed Al Maktoum chaired the 76th meeting of DSCE which was held virtually in the presence of Saeed Mohammed Al Tayer, Vice Chairman of the Council.Saeed Mohammed Al Tayer, also the MD and CEO Dubai Electricity...DMCC to open office in Mumbai for Indian firms to expand through Dubai
Leveraging DMCC’s strong regulatory framework and reputation within Indian business circles, the office will provide a one-stop solution for Indian businesses looking to expand through Dubai and help them establish a presence in DMCC.TRENDS poll: Vision 2030 spurs entrepreneurship, small business growth in Saudi Arabia
The oil-rich kingdom has supported private institutions targeting startups to further boost investment in non-oil sectors.Oman and Etihad Rail Company signs MoU with Vale, Brazilian mining firm
Dubai, UAE-- Oman and Etihad Rail Company, the operator of the UAE-Oman Rail Network, has signed a memorandum of understanding (MoU) with Vale, the Brazilian mining giant, to look at the possibility of using the rail network in the transportation of iron ore.The MoU was signed by Ahmed al Musawa...Global oil industry needs $12trn investments by 2045
Oil alone will make up almost 29 percent of the world’s energy needs by 2045, requiring an investment of over $500 billion each year to maintain a steady supply, Al Ghais said.Will sponsor Emirates Labor Market Award, says Abu Dhabi Chamber
ABU DHABI, UAE - The Abu Dhabi Chamber of Commerce and Industry (ADCCI) announced its sponsorship of the Emirates Labor Market Award, organized under the patronage of Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Minister of the Presidential Court.The award aims to recognize the efforts...India Jewelry Exposition Center launches in Dubai
DUBAI, UAE - The Gem and Jewelry Export Promotion Council (GJEPC) has launched a first-of-its-kind India Jewelry Exposition Center (IJEX) here during a special event to commemorate the first anniversary of the UAE-India Comprehensive Economic Partnership Agreement.Announced during the CEPA Beyond Trade celebration, IJEX will provide a platform for India’s...Three new beaches for night swimming open in Dubai
Dubai, UAE - Dubai has given a boost to its beach tourism by opening three new beaches for night swimming in Jumeirah 2, Jumeirah 3 and Umm Suqeim 1.The 800-metre-long night-swimming beaches feature lighting systems, which enable residents and tourists to swim around the clock, and electronic screens that display...Sheikh Khalifa: A legacy of progress and empowerment
He continued his predecessor's remarkable legacy until his own passing on May 13, 2022. Under his leadership, the UAE flourished, becoming the second-largest economy in the Arab world and the first Arab and Islamic nation to successfully reach Mars, among numerous other notable achievements across various domains.Iran’s trade with six Arab countries climbs up to US$35bn in 2022-2023
Tehran, Iran--Iran's trade with six Arab states has vaulted to $35.11 billion in the fiscal year of 2022-2023, according to the latest data released by the Islamic Republic.According to Iran Customs Administration, the Islamic Republic traded 58.25 million tons of goods (excluding crude oil exports) worth $35.11 billion with the...Dubai luxury realty market at new heights
The emirate's luxury home sales surged to $1.63 billion in Q1 2023, as affluent buyers acquired 88 units exceeding $10 million, signaling a sustained rise in prime property sales amid broader economic rebound.EDB review ways to boost SMEs financial inclusion at 2-day event
ABU DHABI, UAE - Emirates Development Bank (EDB) displayed its flexible and customized financing solutions in the Annual Investment Meeting, held at ADNEC here, local media reports said.The two-day event served as a platform for networking and connecting with experts, investors, companies, and SMEs.EDB's CEO, Ahmed Mohamed Al Naqbi, said:...Oman, UAE to boost rail logistics with new Vale deal
ABU DHABI, UAE- Oman and Etihad Rail Company signed an agreement with Vale, one of the world’s largest mining companies, to explore utilizing rail to transport iron ore and its derivatives between Oman and the UAE. It is likely to connect Vale’s industrial complex in Sohar Port and Freezone to...UAE presents labor laws to UN Human Rights Council in Geneva
DUBAI, UAE - The UAE presented its legislative ecosystem - which regulates the local labor market, provides social security and ensures decent social security to workers - the UN’s Human Rights Council (HRC).Several UAE federal, local government entities and civil society organizations were part of the delegation for the country’s...RAK Ceramics’ profit soars in Q1
The profit rose to US$22mn on the back of higher revenue.Dubai Investments profit up 55%
The Group's income also saw an increase of 34 percent.ADNOC Distribution’s profit up
Its profit vaulted to US$150 million in Q1 of 2023France-UAE ties get robust as non-oil trade soars
Baroux also commends the UAE as the most promising market for French exports in the region, with over 600 French companies operating in the country, employing nearly 30,000 people. France stands as the UAE's fourth-largest economic partner within the EU, ranking third for imports and sixth for non-oil exports from...Luxury tourism in Gulf countries set to reach $11bn this year
GCC countries are investing in infrastructure and programs to become leading tourist destinations. With strategic locations, excellent connectivity, iconic attractions like the tallest building, and a commitment to eco-friendly tourism, they are poised for success in attracting visitors from around the world.Dubai Chambers briefs EU Missions about UAE Corporate Tax Law
DUBAI, UAE - Dubai Chambers has hosted a workshop for commercial attachés of EU Diplomatic Missions to provide them with an overview and key highlights of the UAE's Corporate Tax Law.The workshop, organized in collaboration with Al Tamimi & Company Law Firm, brought together 13 officials representing the commercial interests...Tabreed Q1 net profit $64.37m
Tabreed's total connected capacity rose to 1.276 million RT.UAE tops the world in 5 labor market competitiveness indices
DUBAI, UAE - The UAE has topped several global labor market indices issued by international entities and institutions in a new accomplishment that reflects UAE’s pioneering global model for development.The UAE ranked first globally in the Talent Attractiveness Index as per the Global Prosperity Index 2023, issued by the UK’s...Dubai records $2.55 billion in weeklong real estate transactions
Dubai, UAE -- A total of 3,112 real estate and property transactions, valued at AED 9.4 billion ($2.55 billion), were conducted during the week ending May 12, according to figures released by the Dubai Land Department (DLD). The DLD weekly real estate report noted that 170 plots were sold for...UAE President, Macron hold talks to strengthen strategic partnership
Dubai, UAE -- UAE President Sheikh Mohamed bin Zayed Al Nahyan has discussed the longstanding strategic partnership between the UAE and France with French President Emmanuel Macron in Paris.They also explored opportunities to further expand bilateral cooperation across various sectors, WAM reported. Macon affirmed the commitment to further strengthening the...Emaar Properties logs 43% growth
The firm recorded a net profit of $873 million.Masdar, IRENA ink pact on tripling global renewable energy capacity by 2030
ABU DHABI, UAE - Masdar has signed an agreement with the International Renewable Energy Agency (IRENA) to cooperate on a major international knowledge project setting out the means to triple global renewable energy capacity by 2030.During the UAE Climate Tech Forum in Abu Dhabi, Mohamed Jameel Al Ramahi, CEO of...ADNOC inks pact with SeaOwl to design unmanned vessels
ABU DHABI, UAE - ADNOC Logistics & Services (ADNOC L&S) announced on Thursday it has signed an agreement with SeaOwl for the design of unmanned Remotely Operated Vessels (ROV).The ROVs are capable of transporting vehicles, equipment and supplies to and from offshore sites, reports say.The innovative design of the ROV...Aramex Q1 net profit down 49%
Aramex said revenue was impacted by currency fluctuations, etc.e&, Vodafone form relationship
As per pact, e& is a cornerstone shareholder of Vodafone.Emirates Group yearly profit $3bn
The group declared a dividend of $1.2 billion to its owner.HSBC sees great Middle East-China growth potential
Dubai, UAE: The economic potential of the Middle East-China trade corridor was the focus of discussion at an exclusive International Connections briefing organised by HSBC and the UAE China Business Council, for Chinese businesses and clients based in the UAE.HSBC hosted Chinese ambassador to the UAE Zhang Yiming and a...ADNOC Gas Q1 net income up 9%
The company's revenue for the quarter was $5.2 billion.UAE’s GDP expected to have grown by 7.6% in 2022: CBUAE
Abu Dhabi, UAE-- The UAE's gross domestic product (GDP) is estimated to have grown 7.6 percent in 2022, shored up by economic activity across all sectors.The conclusion was made in an annual report released by the Central Bank of the United Arab Emirates (CBUAE), which said that the UAE's GDP...Union Properties profit is $3.3m
Revenue increased to $33.21 million, up 16 percent.ADNOC, Baker Hughes partner to boost green hydrogen development
Abu Dhabi, UAE - ADNOC and Baker Hughes announced Wednesday a deal to accelerate the development and commercialization of technology solutions for green and low-carbon hydrogen, as well as graphene.The agreement will see ADNOC collaborate with Baker Hughes as a strategic partner to study and pilot, the deployment of innovative...Inter-Arab investments low, need favorable conditions to grow: Hanafi
Dubai, UAE -- The UAE had become a center for foreign investments, leading Arab, regional and global rankings in attracting investments, said Dr. Khaled Hanafi, Secretary-General of the Union of Arab Chambers on the on the sidelines of the Annual Investment Meeting (AIM) 2023.Hanafi stressed that business owners in the...First-ever Dubai-Palestine business meet focuses on startups
Dubai, UAE - A delegation of Palestinian business executives including 21 start-up representatives visited Dubai Chamber of Digital Economy.It is the first-ever business meeting between Dubai and Palestine, with the delegation involved in 237 meetings, one of the highest ever.Participants at the event included Hashim Shawa, Chairman of Bank of...UAE issues decision on conditions of exemption from corporate tax
Abu Dhabi, UAE -- The UAE Ministry of Finance has issued a decision on conditions under which a "person may continue or cease to be deemed an exempt person,”.An official statement said the decision clarifies rules to ensure that businesses remain eligible for a corporate tax exemption if they fail...ADNIC records 17% profit rise
The firm's net profit soared to US$27.14mn in Q1 of 2023.ADNOC to float 15% minority stake in ADNOC Logistics & Services on ADX
Abu Dhabi, UAE -- ADNOC has announced its intention to float a 15 percent minority stake in ADNOC Logistics & Services on the Abu Dhabi Securities Exchange (ADX).The offering is expected to open on May 16, 2023, subject to regulatory approvals and other relevant considerations.ADNOC L&S is a logistics services...UAE growing EV charging stations from 500 to 800
Abu Dhabi, UAE - The UAE is growing the number of Electric Vehicle (EV) charging stations from 500 to 800 in the next few years. This was stated by the country’s Minister of Energy and Infrastructure, Suhail bin Mohammed Al Mazrouei, on the sidelines of the ongoing World Utilities Conference 2023....