Dubai, UAE --- Global travel companies and tourism industry leaders expressed confidence in the UAE's tourism sector during the "Engage by Elevate online 2026" summit, citing the destination's resilience and continued appeal to international travellers. The hybrid event, organised by Elevate World and hosted from Dubai, brought together more than...
DEWA adds 600MW of clean energy production capacity
DUBAI, UAE - MD and CEO of Dubai Electricity and Water Authority Saeed Mohammed Al Tayer said DEWA had added 300 megawatts of photovoltaic solar energy in 2022 from the fifth phase of the Mohammed bin Rashid Al Maktoum Solar Park using the Independent Power Producer (IPP) model. The Solar...
Nedaa, Nokia ink 5G deal in Dubai
5G network will help Nedaa provide better services.
Taaleem to raise US$204.21 million in IPO
Dubai school operator plans to expand its network.
UAE refunds tax incurred on building, operating mosques
The FTA will begin accepting applications for refunding input tax incurred on building mosques from Nov 1.
Upcoming climate events to boost UAE-Egypt ties
The bilateral relations between the two countries are based on mutual respect and appreciation. The significant advancement in the bilateral ties in recent years in several major sectors, notably the economic and trade sectors, has led to a rise in their trade exchange to record levels, she adds.Sheikh Khaled bin Mohamed bin Zayed meets CEOs of INPEX, BP
Energy security, enhancing partnerships were discussed.
DEWA commissions 389 11kV substations in Q3 of 2022
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has commissioned 389 11kV substations in Dubai in the third quarter of 2022. This is part of its efforts to deliver state-of-the-art infrastructure according to the highest international standards. These stations are mainly located at Wadi Al Safa Fifth, Al Merkad,...
Sharjah Taxi to scale up its fleet of hybrid cars by 65 percent
Sharjah, UAE— Sharjah Taxi intends to increase the number of its hybrid cars running on both fuel and electricity. The decision is in line with the Emirate’s vision to rationalize the use of energy, in accordance with its development goals and agenda. The company had previously completed hybrid vehicle conversions...
Business deals enhance GCC-China cultural ties
Strengthening of political, economic and trade relations between China and the Gulf Cooperation Council countries during the past 15 years has also led to a cementing of cultural ties between the two powerhouses.Gulf indices ease as China COVID curbs hit oil prices
Stock markets across the GCC remained less enthusiastic as oil, which fuels the region's growth, declined amidst fresh coronavirus scare.Masdar to partake in Saudi renewable energy market
Masdar will also participate with partners in the upcoming Round 4 tender announced by the Saudi Power Procurement Co.
UAE makes amendments to value added tax rules
Abu Dhabi, UAE— The UAE Ministry of Finance announced amendments to some provisions of the Federal Decree-Law No. 8 of 2017 on Value Added Tax (VAT), which will be effective from 1st January, 2023. The amendments were made are in line with international best practice in light of the GCC...Reviewed: Strategies to promote wellbeing in the UAE
She was attending the Government Network Meeting of Happiness and Well-being CEOs, which seeks to align the efforts, initiatives and plans within the National Well-being Agenda to improve the well-being of the UAE community members to achieve the objectives of the National Well-being Strategy 2031.UAE consumers hold the purse strings as soaring inflation affects wages, wealth and purchasing power
Consumers in the Gulf country plan to adjust their lifestyle by reducing their household and miscellaneous expenses over the next three months, a latest survey points out.DFSA signs agreement with Bangladesh SEC
DUBAI, UAE - The Dubai Financial Services Authority (DFSA) has signed a Memorandum of Understanding (MoU) with the Bangladesh Securities and Exchange Commission (BSEC) to enable exchange of information between the two authorities. The MoU was signed by Chief Executive of the DFSA Ian Johnston and Chairman of the BSEC...
Amanat Holdings buys 60% stake in HDC for US$58m
HDC provides special education and care services in S Arabia.
Multiply Group reports $2bn in net profit for Q3 2022
The Group's Q3 2022 figures showed revenue of $29 million and gross margin of $38 million.
Emirates NBD profit rises 25 percent to $2.47 bn for Jan-Sept period
Q3 profit was AED3.8 bn, up 51 percent year-on-year, exceeding the $1bn mark.
Emirates Islamic bank net profit for Jan-Sept period $285 million
The bank attributed the profit to higher funded and non-funded income.
UAE President, Austrian Chancellor discuss bilateral relations
UAE President Sheikh Mohamed bin Zayed Al Nahyan and Federal Chancellor of the Republic of Austria Karl Nehammer met in Abu Dhabi Thursday to explore opportunities to further enhance bilateral ties in light of the Comprehensive Strategic Partnership that exists between the two countries.UAE tops list of foreign direct investors in Egypt: Egyptian PM
The UAE president Sheikh Mohamed bin Zayed Al Nahyan, and Abdel Fattah El Sisi, President of Egypt have met recently on several occasions.
Improved real-time payment infrastructure set to boost digital payments across GCC
With an estimated 209 million people making purchases online at the height of the pandemic, e-commerce in the MENA area has grown faster than anywhere else.
UAE-Kazakhstan trade reached $907 million in 2021: Ambassador Menelikov
The Kazakhstan ambassador valued the UAE leadership's interest in strengthening relations between the two countries, pointing out that the 1st of October marks the 30th anniversary of establishing diplomatic relations between the UAE and Kazakhstan.
Inditex sells Russian business to Middle Eastern Daher Group
Inditex closed its over 500 stores in Russia in March.Al Seer Marine buys large crude carriers
The firm's total VLCC fleet value is now $245 million.
‘UAE government revenues rose by 26% in 2021’
ABU DHABI, UAE - In the UAE the revenues at the federal level increased by 26 percent from US$100 billion (AED367.9 billion) in 2020 to $126.3 billion (AED463.9 billion) in 2021, says the Ministry of Finance (MoF) data released Tuesday. The MoF released the preliminary government finance statistics data for...IHC scales up IT business, makes deals worth US$272m
International Holding Company (IHC) has scaled up its IT business, making deals to the tune of $272 million in the first ten months of 2022. It is part of the company's long-term strategy to grow its capacity in the tech industry across different sectors.
UAE-UK partnership may unlock potential of clean hydrogen, boost economy, create 200,000 new jobs
The latest WGEO study is part of "our efforts to support the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Emissions Strategy 2050 to provide 100 percent of the energy production capacity from clean energy sources by 2050", adds Chairman Saeed Mohammed Al Tayer.UAE-Egypt trade touches $67 billion in the last 22 years
The economic ties between the UAE and Egypt were strengthened this year by the signing of the Industrial Partnership for Sustainable Economic Growth, crowning a more than fifty-year long trade relationship between the two nations that has grown to $67 billion in the last twenty-two years.
Al Barakah plans to set up unit in Jewish state as Israeli consumers savor UAE’s silan, date sugar
Sales of Al Barakah silan in Israel have tripled to 3,000 tons over the past two years, making Israel the fifth largest market for its date syrup, says a top company executive.ADCB Q3 net profit at US$432m
The diversification of revenue streams boosted the bank's profitability.UAE, Saudi pension systems improve performance on 2022 Mercer CFA Index
The 2022 Mercer CFA Institute Global Pension Index compares 44 retirement income systems against more than 50 indicators and benchmarks.
DTC Abu Dhabi-UNESCO study on pandemic impact ‘useful’ in plugging gaps
Abu Dhabi, UAE - The Culture Summit Abu Dhabi began in the UAE capital with discussions on the impact of the pandemic on culture. Noura bint Mohammed Al Kaabi, Minister of Culture and Youth, said, “If an issue happens in Brazil or Iraq or Syria, it affects us as well,...
UAE Minister highlights youth’s role in sustainable food systems
DUBAI, UAE - UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri participated in the World Food Forum where she spoke about the country's efforts to enhance youth engagement in strengthening food security through innovation and entrepreneurship. The Forum from October 17 to 21 at the headquarters...
S. Korea, Arab nations to hold new round of FTA talks
SEOUL, S. KOREA - South Korea and a group of Arab countries will hold another round of negotiations for their free trade deal next week, Seoul's trade ministry said Sunday. South Korea and the Gulf Cooperation Council (GCC) will begin the sixth round of official talks for a bilateral free...Visits, talks boost GCC-Asia trade ties
Traditionally, GCC trade was focused on the West. However, now it is moving to the East. This eastward shift is not too surprising given the continuing travails of many developed Western economies. With the sluggish recovery from the financial crisis in the EU and the US, Gulf economies have had...Shamma bint Sultan calls for collaboration on climate change
Executive Director of the UAE Independent Climate Change Accelerators (UICCA) Sheikha Shamma bint Sultan bin Khalifa Al Nahyan highlighted the rapid escalation of the climate crisis in recent years, and UAE’s efforts to mitigate the effects through its Net Zero strategy.UAE signs deals worth US$70m to produce medical equipment
The UAE has signed agreements to the tune of $70.8 million with medical companies to manufacture medical equipment at home.NMDC records 40% profit jump
Its profit shot up to $191m in first nine months of 2022.
UAE-UK Business Council to promote trade, investment
The UAE-UK Business Council hosted its 20th Plenary Meeting in Abu Dhabi, co-chaired by Ahmed Al Sayegh, Minister of State, and Lord Udny-Lister.CARACAL signs ‘Make in India’ partnership with ICOMM
The agreement was signed during DEFEXPO 2022, the Land, Naval and Homeland Security Systems Exhibition, which is being held in Gandhinagar, Gujarat.
EasyLease net profit $8.91m
The total revenue in Q3 ended Sept reached AED156.11 million
DXB to welcome 2.1m passengers over 10-day school holiday break
October 30 is expected to be the busiest day with daily traffic exceeding 259,000 passengers.Dubai to host 3 healthcare events next week
The United Arab Emirates is set to host three healthcare events next week in Dubai where over 4,000 healthcare professionals and participants are expected to attend.High investments in H1 2022 for DEWA transmission substations
Dubai Electricity and Water Authority (DEWA) recorded substantial growth of 22 percent in investments allocated to transmission substations during the first half of 2022, compared to the same period last year.Aramex acquires eCommerce enabler MyUS
The acquisition integrates MyUS into Aramex’s business.
New technologies bolster GCC-Asia trade relations
Beyond oil and gas, Gulf companies have made some strategic investments in sectors with strong potential for growth, including fintech, e-commerce and logistics. For example, in 2020, Saudi fintech startup Tamara established operations in Vietnam, and the UAE's B2B e-commerce provider Distichain set up a base in Singapore.
Poll: Most MENA users consider metaverse a fad
Nearly 32 percent of respondents to a TRENDS poll saw metaverse as a good investment for GCC businesses, as two biggest economies in the region invest heavily in this sector.
Abu Dhabi, Bangladesh to enhance trade, economic ties
The Abu Dhabi Department of Economic Development (ADDED), and Bangladesh Embassy in Abu Dhabi, have organized the Economic Cooperation Forum to enhance economic cooperation and mutual investment opportunities.
CBUAE issues commemorative coins on Tawazun’s 30th anniversary
The Central Bank of the UAE (CBUAE) in collaboration with the Tawazun Economic Council (Tawazun), has issued 1,000 silver commemorative coins to mark the 30th anniversary of Tawazun.
