"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...

AJMAN, UAE - Ajman hotels and serviced apartments recorded a three percent growth in hotel revenues in the first quarter of 2023 compared to the corresponding period in 2022. The increase occurred mostly due to higher demand that is pushing the Average Daily Room (ADR) Rate, making investment in hotels...

Abu Dhabi, UAE -- UAE's Federal Authority for Identity, Citizenship, Customs & Port Security has asked transporters in the Emirates to register in the Electronic National System for Tracking Trucks and Shipments by 30 October 2023. Those who fail to register by this date will be fined AED1,000 for the...

The goal is to simplify establishing the initial balance sheet, guaranteeing a fair method for managing assets and liabilities preceding the new Corporate Tax system implementation.

Dubai, UAE - DP World cut direct carbon emissions from its global operations by 5 percent last year, according to its latest Environmental Social and Governance (ESG) report, reflecting progress towards its 2040 carbon-neutral target. The ESG report, published Thursday, has been developed in accordance with the latest Global Reporting...

“As we sit at the crossroads of the very future of humanity as it relates to technology, female influence, and voice matter more than ever. Today we need to ensure that gender parity is guaranteed and not just a target,” she adds, pledging her own full commitment to the vision.

Sharjah, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) organized the UAE-Sao Paulo Business Forum on Thursday, marking a significant stride towards fostering economic relations between the UAE and Brazil. During the forum, the two sides discussed joint efforts and investment opportunities available in both cities, focusing prominently...

DUBAI, UAE - First Deputy Ruler of Dubai and Deputy Prime Minister and Minister of Finance of the UAE Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum on Thursday met with Charles Meyers, President and CEO of Equinix here. During the meeting, Maktoum bin Mohammed highlighted Dubai’s keenness to strengthen...

Brussels, Belgium -- The European Union approved a historic agreement banning harmful fisheries subsidies on Thursday, joining a small group of countries that include the United States. After more than two decades of negotiations towards banning subsidies that encourage overfishing and threaten the sustainability fish stocks worldwide, a deal, albeit...

ABU DHABI, UAE - The UAE Ministry of Interior (MOI) and Etihad Rail Company, the developer and operator of the country's national railway network, have signed a Memorandum of Understanding (MoU) to enhance cooperation and strategic coordination between them. The MoU was signed by Under-Secretary of the Ministry of Interior...

Abu Dhabi, UAE -- Abu Dhabi National Oil Company (ADNOC) on Wednesday announced that the final offer price for the Initial Public Offering of its ADNOC Logistics & Services has been fixed at AED2.01 per ordinary share price. This implies a market capitalization of AED 14.9 billion ($4.05 billion) of...