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.  ...

Largest 5G consumer study to date captures opinions equivalent to 1.3 billion consumers and 220 million 5G users globally Early adopters in the UAE are satisfied with speed and 81 percent want more innovative apps, services   A new report by Ericsson ConsumerLab highlights the impact that 5G is already...

  Thirteen outstanding executives were given the degrees Degrees are presented for exceptional contributions to society Thirteen African business leaders were conferred Honorary Doctorate Degrees 2021 on Monday in recognition of their leadership qualities, vision and outstanding public service amidst global crises. The degrees were presented by MG Business Solutions...

  It will work as a reference for security agencies, the police, and other enforcement bodies in financial-crime probes It will reportedly also facilitate requests from other countries for information exchange to combat money-laundering and terrorist-financing     The United Arab Emirates has created a database of ownership information that...

The use of this type of transport in Dubai is aimed at accelerating the mobility of people, ease congestion

They also discussed topics such as stimulating investments in food security, waste management, and natural tourism fields

The move is in line with international efforts to exchange financial information and expertise

Cafes, European and Middle Eastern outlets see most spending in the first quarter of  2021

Launched in 2011, the competition has attracted more than 2,000 entries during the past eight years 

Sheikh Mohamed bin Zayed Al Nahyan meets visiting chairman of the Libyan Presidential Council Mohamed Younis Al-Manfe

Two nations will cooperate to spur innovation through leveraging advanced technologies and 4th Industrial Revolution solutions Building an ecosystem that stimulates innovation is no longer optional, Sultan Al Jaber said The UAE and China will expand their collaborations into knowledge-intensive sectors and jointly work to spur innovation through leveraging advanced...

The Intergovernmental Committee consists of representatives of 24 countries  Al Kaabi proposes six areas of action that warrant the attention of  Member States The UAE has won a seat on the Intergovernmental Committee for the Protection and Promotion of the Diversity of Cultural Expressions for the period 2021 to 2025....

UAE’s Ministry of Climate Change and Environment has signed an MoU with idea innovator company Ideanco to collaborate in promoting climate solutions

Lithuania's pavilion at EXPO 2020 Dubai will be inspired by concepts of innovation, sustainability and innovation

Sector-wise, the increase was spurred by growth in demand for engineering goods, petroleum products, gems, jewelry, pharmaceuticals and iron ore

The bank in its latest figures released on Thursday showed steady growth in gold reserves The reserves shot up by nearly seven percent since March The Central Bank of the United Arab Emirates has reported nearly a seven percent growth in gold reserve for the second consecutive month now, reaching...

The investments were made in held-to-maturity securities, debt securities, equities, other vehicles  Other investment instruments valued Dh46.6 bn by end of April The UAE-based banks hiked by Dh54.8 bn ($14.92 bn) their investments in held-to-maturity securities, debt securities, equities and other vehicles during the first four months of 2021, statistics...

Some 100,000 bags to be provided to shoppers at LuLu Nestlé claims to be committed to improving packaging and reducing waste To commemorate the World Environment Day, Nestlé and Lulu have come together to encourage the use of reusable grocery bags among shoppers, in a campaign across 40 outlets in...

At present, financial services form Luxembourg's biggest export to UAE Future economic ties to also focus on will space, fourth industrial revolution (4IR) technologies, digitization, AI Luxembourg’s economic relations with the United Arab Emirates, which have traditionally been centered around the exchange of services, will expand to many more areas,...

The ambassador of the UAE Al Zaabi made this statement during his visit to the Federation of Iraqi Chambers of Commerce The UAE companies wish to invest in Iraq The United Arab Emirates (UAE) has shown desire to deepen trade and economic ties with Iraq. The ambassador of the UAE,...

  Abu Dhabi will host an Israeli economic office to strengthen economic ties The announcement comes a day after the UAE and Israel signed a tax treaty   Just a day after it signed a tax treaty with the United Arab Emirates, Israel said it would open an “economic attaché...

Businesses can visit Dubai Economy eServices page or outsourced service centers to submit data Furnishing data is required under the Cabinet Decision of 2020     Dubai Economy has called on all business owners in the emirate to provide their Beneficial Owner data that would be added in the commercial...

the ministry held an extensive media briefing on the system for combating money laundering The session also briefed attendees on most important international obligations in this regard Violators of anti-money laundering or ultimate beneficial owner procedures may lead to administrative fines ranging from Dh 50,000 to Dh 1,000,000 ($2,72,249) in...

It has 7,542 solar panels producing electricity The facility is expected to reduce the emission equivalent of 5,300 tons of carbon dioxide per year Abu Dhabi’s largest solar-powered car park is complete, announced renewable energy firm Abu Dhabi Future Energy Company, aka Masdar, and Abu Dhabi Airports. With 7,542 solar...

Abu Dhabi economy to recover modestly in 2021 courtesy increased business activity and higher oil prices Emirates' rating could improve if it implements measures to boost its monetary policy Abu Dhabi's economy will improve in 2021 on the back of increased business activity and higher oil prices, but the actual...

*Steady growth in liquidity a new sign of the gradual economic recovery, primarily in retail and commercial platforms *UAE Central Bank's report says liquid assets accounted for 15.9 percent of the total assets by the end of the first quarter Liquid assets held by UAE-based banks increased 2.6 percent to...

The steady growth in liquidity is a new sign of the gradual economic recovery Liquid assets accounted for 15.9 percent of the total assets by the end of the reference quarter Liquid assets held by UAE-based banks increased 2.6 percent to Dh486.58 billion ($132.48 billion) in first quarter (Q1'21) from...

The signing of the treaty came after the normalization of ties between them The treaty is based primarily on the OECD model, Israeli Finance Minister Israel Katz said in a statement Looking to target companies involved in money laundering activities in the United Arab Emirates (UAE), the Anti-Money Laundering Department...

The companies must come clean by next month  The ultimatum was delivered by Safia Al-Safi, the director of the Anti-Money Laundering Department Looking to target companies involved in money laundering activities in the United Arab Emirates (UAE), the Anti-Money Laundering Department at the UAE Ministry of Economy has told the...

The plan provides coverage against the loss of life due to accident or sickness Be it household expenses, servicing personal and credit card loans, school and college fees, etc. AXA Life Protect has you covered AXA Green Crescent Insurance Company has announced the launch of its latest insurance product, AXA...

Italy lifts quarantine on arrival Bahrain, Greece and Seychelles welcome fully vaccinated travellers Now, passengers arriving from Germany, Spain and the USA, can enjoy quarantine-free travel when they arrive in Abu Dhabi, according to  Etihad Airways guidance for the  travellers on the best way to enjoy hassle-free travel. This follows...

The delegation will look to strengthen economic ties, develop industries, improve trade exchanges with their Russian counterparts The center is an initiative of Sharjah Chamber of Commerce and Industry A trade mission from the Sharjah Exports Development Center, an initiative of Sharjah Chamber of Commerce and Industry, will go to...