United Arab Emirates

Dubai’s DMCC reports 9 percent rise in Chinese member companies in H1 2024

DMCC has become home to 15 percent of the estimated 6,000 Chinese businesses and companies in the UAE

Dubai’s office stock grows by 20,000 sq. m., Abu Dhabi adds 7,500 sq. m. in Q2 2024: Report

The growth is attributed to a strong economy, diverse demand, and focus on quality, sustainable spaces

51 percent of UAE investors prefer real estate IPOs: Survey

The UAE market contributed a remarkable 58 percent of 2023 IPO proceeds in the GCC region

Dubai to host Games of the Future in 2025

The UAE was last month selected as the host for the games at a ceremony in Istanbul

UAE announces $216.31 million in pension payments for July 2024, benefiting 48,199 pensioners

This marks an increase compared to July 2023, when AED711,323,785.25 was allocated to 46,835 recipients

Dubai’s Dragon Oil launches AI project to develop Egypt’s Morgan and Badri oil fields

The AI project is a significant step towards digital transformation and innovation in Egypt's oil and gas industry

UAE, Indonesia to boost cooperation in public finance, debt management, and climate finance

The two countries enjoy thriving bilateral trade, with $4 billion in volume in 2023 

UAE gold prices up, global rates rise as investors await U.S. GDP reading

In a bid to boost demand, India slashed import duties on gold and silver from 15 percent to 6 percent

Core42, Qualcomm launch Compass 2.0, provide access to leading open-source LLMs

Compass 2.0 utilizes the Qualcomm Cloud AI 100 Ultra inference accelerators to deliver industry-leading energy efficiency

Dubai’s du posts 54.2 percent net profit surge to $322.35 million in H1 2024

In its Q2 2024 financial results report, du announced that its net profit reached AED581 million

UAE passport ranked among world’s most powerful, climbs up 53 places on index

The UAE passport ranks 9th on the list with a visa-free score of 185

UAE’s ADNOC L&S invests $1.9 billion in supersize ethane carriers and ammonia vessels

The VLECs will be deployed on 20-year time charter contracts, generating an estimated $4 billion in revenue

Over 34,000 new companies join Dubai Chamber of Commerce in H1 2024

Chamber's members saw a significant 6.7 percent annual increase in the value of exports and re-exports to AED145.9 billion

DEWA installs over a million smart water meters in Dubai

This is further aimed at enhancing operational efficiency, managing facilities and services through smart and integrated systems

Air Arabia to connect Sharjah and Maldives with daily non-stop flights

The new route offers travelers more convenient and affordable ways to explore a popular South Asian destination

Surge in demand for industrial and logistics assets reaches 185 percent in Dubai, Abu Dhabi: Report

The Jebel Ali Industrial Area Second Category saw rents jump 38.5 percent to AED36 ($9.80) per sq ft.

Dubai launches landmark $28.58 million mental health framework

The new framework features 10 key initiatives that will be launched over the next five years

UAE gold prices decline, global rates down ahead of U.S. economic data release

Gold prices reached a record high of $2,483.60 last week as markets expected a 25-basis-point U.S. interest rate cut by September

PureHealth’s Ardent Health successfully concludes IPO on New York Stock Exchange

In September 2022, PureHealth acquired a 26.05 percent equity stake in Ardent Health for $500 million

Dubai Chambers, SGS partner to facilitate export of local products and services globally

Dubai companies can now ensure that their products and services comply with the standards of 176 countries

DEWA commissions 8 new electricity transmission substations worth $370 million

Projects include 89 kilometers of ground cable which enhance the efficiency of Dubai's the 132kV transmission network

UAE, China forge agreement to boost air connectivity, bilateral relations

The agreement between the UAE and China will have a substantial positive impact on the economic sectors of mutual interest

Abu Dhabi Airports launches smart travel project: Time to serve passengers down to 7 seconds

Traveler registration service automation to eliminate the need for travel documents or direct interaction with airport staff