This comes as IMF raised the Emirates’ 2024 growth forecast earlier in May on the back of strong economic growth …
UAE bank to deduct funds from customers’ accounts that were not debited during system upgrade
Dubai Islamic Bank (DIB) has sent out an email to its customers that it will deduct money that was processed during the system upgrade earlier this year but was not debited from the customers’ …
Dubai: Gold prices rise to new record high; 22K crosses Dh308 per gram
The gold price rally continued on Wednesday morning as the yellow metal jumped Dh1.75 per gram to a new record high at the opening of the markets in …
Dubai announces special privileges for residents, sponsors with no residency violations in past 10 years
Dubai residents and Emirati sponsors who have not committed any residency violations in the past 10 years will enjoy “special privileges beginning November..
Common mistakes to avoid for UAE’s first-time home buyers
There has been a surge in buyers getting on the property ladder in the UAE. Dubai recorded a 43 per cent increase in mortgage registrations last year compared to 2022, according to a report by real …
Du Partners Nokia to Expand 5G Advanced Network
du has announced the extension of its strategic partnership with Nokia to expand its 5G network. The new agreement will support du to expand its state-of-the-art 5G advanced network, incorporating …
E& UAE, Huawei Commercialize First Global 5G Virtual Network Service
UAE and Huawei have achieved a significant milestone by commercializing the 5G virtual network service based on 3GPP …
Dubai Crown Prince approves new initiatives to foster growth of startups, develop national tech talent, drive innovation
The projects and initiatives are designed to support the UAE’s development objectives and reinforce its status as a leading hub for future industries …
Abu Dhabi unveils ‘Data for Good Framework’, enabling public-private data partnerships to drive innovation
ABU DHABI: The Statistics Centre – Abu Dhabi (SCAD) has officially launched Data for Good (D4G) Framework, marking a significant step towards fostering data-driven innovation and strengthening public-private collaboration in the Emirate.
Lulu Chairman Yusuff Ali hints future Saudi listing; UAE IPO to fuel expansion, refinance debt
A day after UAE retail giant Lulu announced Abu Dhabi IPO plans, its chairman, Yusuff Ali, told Zawya that a possible listing on Tadawul, the Saudi exchange, could happen in the “long-term”. Lulu …
UAE economy projected to grow by 5.1% in 2025: IMF
WASHINGTON: The UAE’s real GDP is projected to remain at 4 percent in 2024, rising to 5.1 percent in 2025, according to the IMF World Economic Outlook (WEO). Released today on the sidelines of the …
Lulu IPO: Can investors outside UAE subscribe? Process explained
The Abu Dhabi-headquartered pan-GCC retailer will sell 25 per cent of its shares with a nominal value of Dh0.051 each …
UAE: Simplified tax invoices to help businesses save time, money
The introduction of simplified invoicing, part of recent amendments to the UAE’s VAT Executive Regulations, is set to revolutionise the way businesses oper..
’20 times more likely to crash’: Why Dubai residents are welcoming stiffer penalties for distracted driving
Dubai Police on Tuesday implemented tougher rules on distracted driving, tailgating and sudden lane deviation, with motorists now facing vehicle impoundment for up to 30 days. Residents across the …
Lulu Retail to float 25% stake in IPO on Abu Dhabi Securities Exchange
Lulu Retail, a hypermarket chain operator, has declared its plans to float 2.58 billion shares, marking a 25% stake on the Abu Dhabi Securities Exchange (ADX). The initial public offering (IPO) is scheduled to be held from 28 October to 5 November 2024, with the final offering price set to be determined through a book-building process.
UAE launches DAO’s legal framework
Ras Al-Khaimah (RAK), one of the emirates in the United Arab Emirates, has introduced a new legal framework tailored for decentralized autonomous organizations (DAOs) within its free zone designated …
Site tour: Inside BEEAH’s waste-to-energy plant in Sharjah generating 33MW
As long as there’s waste going to landfill, there an opportunity to build these plants: plant manager. Site tour: Inside BEEAH’s waste-to-energy plant in Sharjah generating 33MW. BEEAH, construction, …