Offer price range has been set at AED 2.55 to AED 3.05 per share  The IPO will continue till 6 Jul 2021 for individuals and other investors in the UAE UAE's state investor Mubadala's statellite company Yahsat on Sunday announced the initial public offering, setting an indicative price range that...

SMEs identify easier access to funding, digital payments, training and upskilling staff as key drivers of growth Rising cost of doing business worries the majority Confidence of Small and Medium Enterprises (SMEs) in the UAE is on the rise after the disruptions caused by the Covid-19 pandemic, says a Mastercard...

HSBC said its Navigator 2020 report showed 81 percent of companies in the UAE were expected to increase investment spending by end-2021 The funding is intended to drive UAE economy back on the path of growth In a big boost to companies in the United Arab Emirates, HSBC disclosed on...

73 percent of consumers have admitted to changing their shopping habits The spending power of people has taken a big hit due to Covid The coronavirus pandemic has seen a drastic shift in consumer behavior in the world and the United Arab Emirates (UAE) has been no different in this...

The project is the biggest investment in Iraq's renewable energy industry Iraq is planning to build a number of power plants in the coming years Iraq is looking to build solar power projects in central and southern Iraq, with a total capacity of 2,000 megawatts, and it has teamed up...

Britain third-largest investing country in Egypt after UAE, Saudi Arabia Egyptian food exports to UK surged by 76 percent despite the pandemic Trade between Egypt and Britain increased 8 percent year-on-year to £519 million ($722 million) in the first quarter of 2021, said Nasser Hamed, director of the EU Administration...

The product has Shariyah Review Bureau certification Customers can opt for a fee-free Islamic account or a conventional one     Jingle Pay, a UAE homegrown money service business, will offer its customers an option to open an Islamic account or opt for a conventional alternative In a statement, the...

The deal is valued at AED4.07 billion ($1.11 billion), as it will give Arkan 5.1 billion ordinary shares at a cost of AED0.798 ($0.22) each Once the deal goes through, Arkan’s holding company Senaat would own 87.5% of its entire issued share capital   United Arab Emirates-based Arkan Building Materials...

This was a 53% year-over-year increase, driven by the digital shift accelerated by the Covid-19 pandemic  E-commerce accounted for 8% of the country’s entire retail market during the same year The Dubai Chamber of Commerce and Industry was quoted by local reports as saying that the UAE’s retail e-commerce market...

94 percent of adults each in both countries considering doing more activities virtually to reduce carbon footprint Over a third of those surveyed say they will work remotely in some form after Covid-19 restrictions are lifted More than half of the adults in the UAE (54 percent) and Saudi Arabia...

  Center represents a major stride for the UAE in becoming a global hub for healthcare research The Center has already begun investigations into the cause of a genetic disease in one family The UAE has launched a first-of-its-kind Center for Genomic Discovery, which will help diagnose and treat patients...

  The emirates climbed seven places in global rankings from 2019 to 2020 The country also maintained its place as the 13th biggest for FDI outflows, investing $19 billion   The UAE was the world’s 15th biggest recipient of foreign direct investment (FDI) in 2020, receiving $20 billion, up from...

  The reminder comes as part of its ongoing efforts to protect customers from accessing unauthorized payment gateways Emirates Post advised its customers to be wary of emails and messages claiming to be from it and providing links to a third-party payment system Emirates Post, the official postal operator for...

Two major Emirati telecom operators, Etisalat and DU, would carry content from i24News, which broadcasts in Arabic, English and French The news channel will exchange content with the publisher of English-language daily Gulf News   Israel-based i24News television network said Monday it would open an office in Dubai, the first...

UAE public schools will reopen for physical learning on August 29 for the academic year 2021-22 The announcement was made by Emirates Schools Establishment, in line with the UAE’s efforts to return to normal after the Covid-19 pandemic  Public schools in the United Arab Emirates will reopen for physical learning...

A study has shown Cloud ecosystem will generate $27 billion in the next four years Microsoft and its partner ecosystem will spend about $2.3 billion in the data centers for services and products  Microsoft's UAE cloud data centers are having a positive impact on the economic growth, the company said...

Colliers white paper explains why IVF popular in MENA region despite high population growth IVF one of leading treatments undertaken by medical tourists in UAE In-vitro Fertilization (IVF) market in UAE, Saudi Arabia and Egypt is estimated to be worth $1 billion, according to a white paper on the IVF...

Project aimed at mitigating climate change and driving socio-economic benefits such as eco-tourism and food security Bank has committed US$100 million for its global Climate Solutions Partnership  HSBC has announced it will provide funds to a coastal ecosystem project in the UAE as part of the bank’s US$100 million global...

  The focus of the discussions was particularly on renewable energy, culture, and tourism They also explored the opportunities available to Guatemala to participate in Sharjah’s year-round events Sharjah’s Department of Government Relations Chairman Sheikh Fahim Al Qasimi and Guatemala’s Ambassador to the UAE Lars Pira Perez recently met to...

  The new service is jointly operated by a global shipping line --Evergreen Line, and feeder operators--Feedertech and Express Feeders The new service will further boost trade between India and UAE     Global logistics company DP World has welcomed a new weekly India South Gulf (ISG) Service at its...

*Non-oil GDP to expand by about 4 percent in both years *Central Bank report finds TES Scheme helped distressed individuals, companies to overcome debt difficulties The UAE GDP is expected to grow by 2.4 percent in 2021 and 3.8 percent in 2022 while the non-oil GDP to expand by around...

The Emirates also ranked third among 64 countries for government efficiency Vice-President Al-Maktoum: 'We did not stand still during the pandemic and we will not stop moving forward' The UAE has retained its position as the ninth most competitive country globally, out-performing the USA, Canada, Australia and the UK, ZAWYA...

Sajan says UAE provides incentives and legislations that encourage investment and commerce Thanks UAE leadership for amending federal laws regulating businesses Rizwan Sajan came to Kuwait as an 18-year-old boy for work. But the first Gulf War forced him to return home in India's financial capital, Mumbai. He then moved...

Dubai-born Senator Kevin Thomas introduced a resolution calling for commemorating the day in New York state *UAE Consul-General in NY Abdalla Shaheen underscores strong business and trade ties with the state Dubai: New York state of the US will commemorate 2 December 2021, the 50th anniversary of the Independence Day...

Central banks in the GCC mimic the US Fed's moves due to the peg of their currencies to the US dollar CBUAE upped the base rate applicable on the overnight deposit facility (ODF) by 5 points to 15 bps Hours after the US Federal Reserve Board raised the interest on...

The start-ups include new leaders in AI, cybersecurity, robotics, and others using tech to address gaps in healthcare, financial access and more This year’s cohort has the highest gender diversity yet, with over 30% of companies led by women One start-up each from the United Arab Emirates and Ethiopia is...

Top financial authorities in the UAE brought together public and private firms to help firm up the country’s anti-money-laundering policies They came together over two sessions to mull a sophisticated international financial crime compliance regime Top financial authorities in the United Arab Emirates came together recently to unite key supervisory...

  The credit is intended to give a boost to sectors critical to the overall economy of the United Arab Emirates The transport, storage, communication and real estate among the sectors receiving credit   In order to give a boost to sectors critical to the overall economy of the United...

RAW is not the first UAE-based coffee brand to announce expansion plans in the Kingdom this year Emirati Coffee in April told Arab News it plans to open its first Saudi branch in July   Tapping into a growing taste for coffee in Saudi Arabia, RAW Coffee, the United Arab...

  EGS has signed an MoU with India-based GMR Aviation Academy for aviation education The MoU will reportedly help EGS and GMRAA promote cooperation in developing and exchanging information, as well as technical expertise in aviation security   Dubai-based Emirates Group Security has signed a memorandum of understanding with the...

    This and other experiences had been stopped due to the Covid-19 pandemic and the resulting lockdown The experience will be available from 4:30 am to 7 am every Saturday and Sunday Burj Khalifa announced in a statement on Tuesday, June 15, that it was relaunching the sunrise experience...

  It has partnered with the UAE-based Storey Group’s One Billion Tree-Planting Initiative for this Mangroves, which grow in tidal areas of the coast, are an important native tree species in the UAE The Emirates Global Aluminum, in partnership with the UAE-based Storey Group’s One Billion Tree-Planting Initiative, began on...

The new board will steer the bank to be the leading digitalized financial services provider in the UAE Established in April 2021, the bank envisions becoming a trendsetter in stimulating and driving community banking activity   Al Maryah Community Bank, the UAE’s first fully integrated digital bank, announces the formation...

  Emirate attracted over 5.5 million overseas visitors in 2020 Visitor from newer markets in Europe, Africa and the Commonwealth of Independent States (CIS) are compensating for the shortfall from traditional markets   Dubai is actively seeking travelers from the new markets to bolster its tourism industry reeling from the...

The G7 powers have endorsed an agreement on a global minimum corporate tax  The UAE is one of the world's top 10 tax havens Tax advantages paired with a life of luxury have long drawn foreigners and multinationals to the UAE, which is aiming to remain attractive whether or not...

It confirmed as much during its first tax agent virtual session of 2021 The reforms will entail amending some provisions of Cabinet Decision No 49 of 2021 The United Arab Emirates’ The Federal Tax Authority plans to make extensive reforms to the country’s new tax code to help taxpayers, said...

According to the Q2 2021 Fitch Solutions Medical Device report, the market will benefit from an overall strong economic performance over the next five years The medical device market includes any product used in healthcare for the diagnosis, prevention, monitoring or treatment of illness or handicap The Inited Arab Emirates’...

The Dubai Islamic Bank has donated Zakat money worth AED6.5 million to support the program and projects of the Emirates Red Crescent Both sides signed a cooperation agreement to coordinate the distribution of the donation to those eligible to receive Zakat The Emirates Red Crescent, the Islamic world’s equivalent of...

The new standards will ensure the quality of food imported or manufactured within the country The ministry is cooperating with the private sector to market local agricultural products The United Arab Emirates’ Ministry of Climate Change plans to launch a new system of food safety standards in the next two...

Speakers share insights on how female entrepreneurs can address Covid-19 challenges The webinar was part of Dubai Economy’s monthly ‘Market Dialogue’ series A webinar to highlight the incentives, services, and benefits that can support all UAE-based businesswomen and entrepreneurs was recently hosted by Dubai Economy and the Dubai Business Women...

In 2020, the value of trade with China fell by 5.3 percent to Dh142 billion The UAE is also home to thousands of Chinese companies China has maintained its position as Dubai’s largest trading partner in the first quarter of 2021 with Dh44 billion ($12 billion) worth of trade, representing...

More than 178,000 people benefit from aid UAE says its leadership had directed to launch the initiative to help Lebanese people overcome dire economic conditions Around 35,600 families in Northern Lebanon received aid from a delegation of the Khalifa bin Zayed Al Nahyan Foundation, which was working with the UAE...

UAE ranked fourth in the Tolerance With Foreigners index, seventh in the Social Cohesion Index Higher ranking means it has exceeded targets set in the UAE Vision 2021 Abu Dhabi:  The UAE has performed well on the competitiveness indices related to tolerance and coexistence during 2020. It was ranked among...

UAE’s National Program for Artificial Intelligence and Bahrain’s Nasser Vocational Training Centre have signed a pact The parties will also look into developing a related remote-learning and training system The United Arab Emirates’ National Program for Artificial Intelligence and the Nasser Vocational Training Centre in Bahrain have signed a cooperation...

The kingdom is almost twice the size of the region’s second-largest economy, Egypt The UAE is the third largest Arab economy with GDP of $354.3 billion The Saudi economy alone was 29.3 percent of the $2.39 trillion Arab economy in 2020. The Kingdom’s $700.1 billion in nominal GDP was almost...

The UAE maintains its position as the US' largest trading partner in the MENA region for the 12th year in a row The UAE and US  partnered to form the Economic Policy Dialogue in 2012 The  US and the  UAE  have reaffirmed their desire to expand engagement and pursue new...

  A Sophos report has said around 92% of IT teams in companies in the UAE said they expect Artificial Intelligence to help deal with cyberattacks The report also said 87% of them expect AI to help the deal with the complexity of the attacks A report by global cyber...

This is expected to improve Dubai’s, and in turn the United Arab Emirates’, position in the global Ease of Doing Business rankings The UAE’s score has already improved from 76.285 in 2015 to 80.915 in 2019, with the peak being 81.589 in 2018     Doing business in Dubai may...

  Top banks of UAE banks record more profit than last year Income rose by 85 percent during the first quarter of this fiscal   The net income of the top United Arab Emirates (UAE) banks has spiked by 85 percent in the first quarter of the year as economic...

UAE government initiatives for promoting skills-based economy have a positive impact on the economy More women enroll for Science, Technology, Engineering and Mathematics (STEM) courses    UAE ranks first in the MENA region and second globally in overall business skills, only after Luxemburg, said Coursera's Global Skills Report 2021.  ...