Dubai Municipality has approved a revised sewerage fee structure, which will be implemented in stages over the next three years, the authority announced on..
Emirates posts $2.4 billion half-year profit in UAE’s first corporate tax year
Emirates, the world’s biggest long-haul airline, posted a first-half profit after tax of Dh8.7 billion ($2.4 billion), in the first financial year that the UAE corporate income tax is applied to the …
Emirates Group First-Half Profit Drops 8% on Corporate Tax
Emirates Group, operator of the world’s largest long-haul carrier, reported an 8% decline in first-half profit after the United Arab Emirates introduced a corporate tax.
Most Gulf Central Banks Follow Fed Lead and Cut Key Interest Rates
The Gulf’s oil and gas exporters generally follow the Fed’s lead on rate moves as most regional currencies are pegged to the U.S. dollar; only the Kuwaiti dinar is pegged to a basket of currencies, …
UAE Central Bank cuts interest rates after US Federal Reserve decision
The UAE Central Bank reduced its benchmark interest rate by 25 basis points, after the US Federal Reserve’s move on Thursday to cut rates to improve business conditions as inflationary pressures ease.
Emirates Group reports AED9.3 billion profit after tax in 6 months
The Emirates Group today announced its best-ever half-year financial performance, posting a profit before tax of AED10.4 billion (US$ 2.8 billion) for the first six months of 2024-25, surpassing its …
Jebel Ali port to stay key component of Dubai’s progress
The port of Jebel Ali is likely to continue to be a key component of Dubai’s transport and logistics sector, and shape the future of the emirate as a global logistics hub, a report said on …
UAE-Australia Cepa to boost bilateral trade to more than $15 billion
For the UAE, known primarily for its vast oil reserves, securing these critical resources is a forward-looking move that will help fuel the next phase of its development.The Cepa is expected to propel …
Rory McIlroy ‘feeling pretty good’ after first round in Abu Dhabi since swing change
Whatever tweak McIlroy made has paid off so far. He fired a 5-under 67 during the opening round of the Abu Dhabi HSBC Championship, the first event of the DP World Tour playoffs. “Overall, it felt …
McIlroy felt ‘unimaginative’ with new swing as Fleetwood leads after shooting 62 in Abu Dhabi
Rory McIlroy has returned from a month away from competitive action and shot a 5-under 67 with a new swing in the first round of the Abu Dhabi Championship.
Tommy Fleetwood changed putters, then he tied the course record at the Abu Dhabi HSBC Championship
But he didn’t Fleetwood shot 10-under 62, tying the course record at Yas Links to take the first-round lead at the Abu Dhabi HSBC Championship, the DP World Tour’s penultimate event on the schedule.
‘Middle of the world’: How the UAE is drawing more tech talent amid US-China AI race
The United Arab Emirates’ AI investments and pro-business policies are drawing more foreign tech firms. Its neutrality in the US-China AI race is a plus, some firms say.
Dubai Court orders jail term for drug trafficker, compatriot
Gulf Today, Staff Reporter The Dubai Criminal Court convicted an Asian national and sentenced him to life in jail on charges of possessing heroin, which …
Dubai Police assist in arresting 308 drug dealers worldwide, seizing 2.259 tonnes, 8 million pills in 2023
Over the past year, the General Department of Anti-Narcotics at Dubai Police has provided 44 countries with 372 pieces of crucial intelligence as part of its commitment to combating the global …
Lulu IPO ends with 25X oversubscription, becomes largest IPO in UAE this year
The final offer price for Lulu shares was set at AED 2.04 per share, raising a total of $1.72 billion (AED 6.32 billion), making it the largest IPO in the UAE in 2024 to date. Lulu Retail’s shares …
UAE Central Bank cuts interest rates to 4.65% following Fed decision
The UAE Central Bank reduced its benchmark interest rate by 25 basis points, following the US Federal Reserve’s move on Thursday to cut rates to improve business conditions as inflationary pressures …
Fintechs need to be more proactive about regulatory compliance
The Synapse failure and recent enforcement actions make it clear that fintechs need to up their regulatory compliance game. At the same time, they have an opportunity to help shape future rules, …