Saudi Arabia’s benchmark stock index slipped 0.5%, dragged down by financial and real state stocks … 500% growth in fourth-quarter net profit and a 76% increase in revenue. Dubai’s benchmark index …
Dubai launches Economic Agenda ‘D33’
Economic targets of US$8.7 trillion over the next decade Agenda aims to double the size of Dubai’s economy and consolidate its position among the top 3 global cities The new Dubai Economic Agenda …
Dubai International Financial Centre declares metaverse platform opening to draw technology innovators
Dubai International Financial Centre declared the opening of the DIFC Metaverse Platform on Monday in a proposal to draw technology innovators from a …
US Hedge Fund Davidson Kempner Buys $1.1 Billion UAE Bad Debt
US hedge fund Davidson Kempner Capital Management bought $1.1 billion in bad debt from Abu Dhabi Commercial Bank PJSC as the lender cleans up a balance sheet battered by a series of corporate defaults …
UAE’s ADCB sells NPL portfolio worth $1.1bln to investment funds
UAE’s Abu Dhabi Commercial Bank PJSC (ADCB) has sold a portfolio of non-performing loans (NPL) worth 4.2 billion dirhams ($1.1 billion) to investment funds advised by Davidson Kempner Capital …
UAE Renames Al Minhad District, Its Surrounding Areas As ‘Hind City’, All You Need To Know
The Vice President and Prime Minister of the United Arab Emirates, Sheikh Mohammed bin Rashid Al Maktoum, renamed the Al Minhad district as ‘Hind city’.
Yoon urges private sector to use UAE’s $30 bil. investment as stepping stone for ‘Middle East boom’
President Yoon says Korea should strive to meet UAE’s expectation By Nam Hyun-woo President Yoon Suk Yeol said the United Arab Emirates’ (UAE) announcement that it will invest $30 …
UAE banks to see lower growth and credit demand in 2023 – S&P Global
UAE’s economic growth is set to slow modestly in 2023 due to OPEC-agreed oil production cuts and deceleration in the non-oil sector as a result of higher interest rates. Along with tighter monetary …
New UAE Employment Law: Firms told not to delay converting unlimited contracts to fixed-term ones
Private sector companies in the UAE have been advised not to wait till the end of the year to convert the employee contracts to fixed-term ones. The new UAE labour law requires all private sector …
Israel’s Twin Crises Put the UAE in a Double Bind
The Abraham Accords give Emirati ruler Mohammed bin Zayed part ownership of Israel’s problems with the Palestinians and Iran.
Dubai’s rising population set to spur property market growth
The rising population is contributing to the launch of new projects and increased supply of residential units in Dubai …
UAE: World’s first university for AI graduates first cohort of students
Some 52 students from 24 countries, including eight Emiratis, received post-graduate degrees in the key AI fields of computer vision and machine learning at a function attended by Sheikh Theyab bin Za …
UAE residency visa holders can now apply for a re-entry permit
Good news for UAE residents who live abroad. UAE visa holders who have been outside of the country for more than six months can now apply for a permit to re-enter. These residents will need to specify …
Highlights from iFX EXPO Dubai 2023 – Throwback to the Largest MENA Fintech Gathering
FX EXPO Dubai 2023 was a resounding success in the financial and fintech space, attracting over 3500 attendees and over 120 industry-leading brands. Held at the Dubai World Trade Centre from the 16th …
Dubai launches metaverse platform in $4bn tech drive
Dubai International Financial Centre (DIFC) has launched the ‘DIFC Metaverse Platform’, in line with the Dubai Higher Committee for Future Technology and Digital Economy’s aim to attract technology …
Billionaire Gautam Adani Gets Vote Of Confidence From Abu Dhabi Firm’s $400 Million Investment
Gautam Adani has won a vote of confidence from a $400 million investment by International Holding Co. (IHC)—an Abu Dhabi-based conglomerate controlled by a key member of the United Arab Emirates’ …
Dubai To Host 22Nd Airport Show In May As The Aviation Industry Gets Energized
Dubai to Host 22nd Airport Show in May as the Aviation Industry gets Energized . Passengers expect enhanced travel experiences. Over 200,000 flights a d …