United Arab Emirates

UAE’s ADNOC Drilling aims for $1.3 billion net profits and 148 rigs by 2026, says CFO

The company has raised its medium-term revenue expectations to $3.85 billion for the fiscal year 2024

New UAE visa application website: All you need to know

The website offers a simple interface which helps users complete their application quickly without filling out lengthy forms

UAE’s DEWA reports $3.72 billion in H1 2024 revenue, shareholders to get $1.68 billion in dividends annually for 5 years

EBITDA reached AED6.6 billion, operating profit of AED3.3 billion and profit after tax of AED2.6 billion

UAE gold prices rise, global rates set for weekly drop as investors await Fed rate cut hints

Markets are now pricing in a 55 percent chance of a 50-basis-points cut in September with bets on an additional cut in December

$7 billion in credit facilities to UAE’s business and industrial sectors in first 5 months of 2024

Credit balance for the sectors from banks in Abu Dhabi was around $104.76 billion in May 2024

Thani bin Ahmed Al Zeyoudi appointed executive chairman of Rorix Holdings

Al Zeyoudi's appointment underscores the company's commitment to fostering inclusive economic development

ADNOC Distribution net profit rises 12.9 percent to $170 million in Q2 2024

Company's non-fuel retail gross profit increased by 13.5 percent annually in Q2 2024 to $56 million

UAE Banks Federation, ICAEW collaborate to guide businesses in digital currency adoption

The UAE is one of only 36 countries worldwide currently piloting the implementation of CBDCs

Dubai’s Emaar generates $3.9 billion in revenue for H1 2024 amid sustained investor confidence, robust demand

The company set a new group property sales record of $8.6 billion in H1 2024, a 56 percent increase over H1 2023

Abu Dhabi’s Etihad Airways soars with $232 million profit in H1 2024, up 48 percent YoY

Total revenue increased 21 percent to $3.2 billion, from $2.6 billion in H1 2023

Dubai’s PCFC profit surges 33.47 percent to $178 million in 2023, revenues reach $292.67 million

By 2023, PCFC had 600 employees, 96,000 clients, 400 suppliers, and 26 strategic partners

Abu Dhabi boosts traffic safety with new work accelerators plan

The work accelerators plan will focus on six key areas and include three stages: design, acceleration and delivery

UAE’s flydubai adds Basel to its expansive 29-destination European network

The carrier’s European network already includes Budapest, Catania, Krakow, Milan-Bergamo, Prague, Salzburg, and Zagreb

UAE Cabinet approves new housing units worth over $544 million in H1 2024

Sheikh Mohammed recently announced that the UAE has allocated AED32 billion for 34,000 housing units for nationals within the next six years

UAE gold prices dip, global rates rise on larger rate cut optimism

U.S. dollar declined by 0.15 percent to 103.05, making greenback-priced bullion more affordable for other currency holders

Ajman emerges as sought-after destination, rental transactions surge 49 percent to $619.93 million in H1 2024

The emirate's strategic location and quality of life make it an attractive hub for both residents and businesses

DIFC Innovation Hub, Ripple partner to accelerate adoption of blockchain technology in UAE

Partnership to provide the means to drive blockchain and crypto adoption amongst early-stage companies and scale-ups

Ferrari World Abu Dhabi launches world’s first Ferrari Esports Arena in Yas Island

The arena features 20 Grand Turismo simulators of which 17 are adult seats and three are for younger guests

Abu Dhabi’s IHC reports 46 percent rise in revenues to $11.35 billion in H1 2024

IHC continued to expand its balance sheet with a 37 percent rise in its total asset position to AED362.9 billion

e& and du paid $963.78 million in federal royalty to UAE government in H1 2024

The aggregate amount of royalty payable by the e& group in the first half of 2024 reached $748.43 million