United Arab Emirates

UAE’s Etihad Cargo expands European footprint with new freighter route to Madrid

Effective July 15, 2024, Etihad Cargo will operate two weekly Boeing 777 freighter flights between Abu Dhabi and Madrid

UAE Central Bank revises inflation forecast downwards to 2.3 percent in 2024

Dubai's headline consumer price index inflation averaged 3.4 percent annually in Q1 of 2024

UAE gold prices inch up, global rates rise ahead of key U.S. inflation data

If the inflation data is on the lower side, the Fed might lower interest rates twice this year

Sheikh Hamdan approves latest phase of Dubai Future Solutions program

The initiative aims to nurture talent and create a global innovation hub

CBUAE’s gross written premiums up 18.5 percent YoY in Q1 2024 to $5.74 billion

Gross paid claims of all types of insurance plans increased by 18.3 percent YoY to AED8.4 billion in Q1 2024

Emirates’ green aviation initiative slashes fuel burn by 48,000 tons, cuts carbon emissions by 151,000 tons

The airline has equipped its pilots with the latest tools and applications to monitor and optimize their flight performance

DEWA commissions $78.36 million water reservoir in Enkhali to raise Dubai’s water storage capacity

Upon completion of the project, the reservoirs will have a storage capacity of 1121.3 MIG of desalinated water

Abu Dhabi’s Etihad Airways launches major network expansion, adds eight new routes this June

The addition brings the total number of operating routes this summer to 76.

UAE’s DP World completes $400 million investment to expand Peru’s port capacity

This expansion has increased the port's handling capacity from 1.5 million TEUs per year to 2.7 million TEUs

UAE gold prices up, global rates set for second weekly gain

Decline is U.S. weekly jobless claims, new housing construction raised hopes for a rate cut in September

Abu Dhabi’s Masdar signs $3.43 billion deal to acquire Greece’s Terna Energy

Offer values Terna Energy's total equity at 2.4 billion euros with an enterprise value of 3.2 billion euros

Abu Dhabi’s KEZAD, Astha Biotech sign lease agreement for $12 million microalgae plant in the emirate

The deal will enable the launch of the UAE's first microalgae company for health, cosmetics, food, and aquaculture

Dubai DET appoints Dr. Marwan Alzarouni as Chief AI Officer

Upon his appointment, Dr. Alzarouni emphasized the goals of Dubai's AI Blueprint

UAE gold prices rise, global rates hit one-week high on rate cut hopes

Gold prices have recovered from their 6 percent decline from their record high last month

UAE national banks provided $4.24 billion in credit facilities to business, industrial sectors in Q1 2024

Cumulative credit balance for these two sectors rose by 2.1 percent to $206.2 billion by the end of March 2024

e& UAE adopts TM Forum and Camara-based Open APIs, launches Developer Portal to drive innovation

The strategic move will enable third-party developers and startups to access and leverage API solutions

Etihad Cargo, Kuehne+Nagel launch direct e-booking integration

Direct integration aims to offer greater transparency, efficiency and flexibility in the booking process

Dubai Future Foundation, Meta launch incubator program powered by LLAMA 3

Business incubator program seeks to inspire development of impactful AI use cases that leverage Meta’s open-source AI stack

Sheikh Mohammed: Dubai is the airport of the world, the meeting place of humanity

H.H. emphasized that the emirate has evolved into a pivotal link between the continents and civilizations of the world

UAE to welcome a record 6,700 millionaires in 2024, ranks 1st globally in millionaire inflows: Report

An unprecedented 128,000 millionaires are expected to relocate worldwide this year

Abu Dhabi’s startup ecosystem ranked fastest growing in MENA, raises $1.06 billion in VC: Report

The emirate was also recognized for its strengths in the FinTech, AgTech and New Food, and ClimateTech sectors

UAE gold prices rise, global rates decline on Fed rate cut speculations

Gold prices have lost around 6 percent from their record high on a stronger dollar and higher interest rates

UAE AI’s office, Germany’s Rittal ink agreement to enhance AI adoption and digital infrastructure

Strengthening public-private sector partnerships contributes to enhancing the UAE's position as a global AI hub