United Arab Emirates

S&P predict robust growth in UAE Islamic finance driven by non-oil economy, $6.1 billion sukuk surge 

The agency notes a rise in foreign currency sukuk issuance, particularly in real estate and finance, to attract foreign investment 

Amazon, Emirates, GEMS, Careem join Dubai’s Gig Economy Sandbox initiative

Sandbox Dubai is an innovative platform that seeks to enhance Dubai’s legislative and regulatory environment in line with future needs

Binghatti launches $1.36 billion Skyrise project in Business Bay

This launch further aligns with Binghatti's ambitious goal to expand its project portfolio to exceed AED100 billion within the next 18 months

Etihad Airways, Vietnam Airlines explore greater cooperation through codeshare

Etihad Airways and Vietnam Airlines have an existing interline agreement, allowing passengers to seamlessly transfer between flights

ADNOC Distribution reports record high earnings at $790 million

ADNOC Distribution exceeded 11 billion liters in total fuel volumes, marking the highest-ever nine-month volumes

Property valuation tool TruEstimate generates over 100,000 reports in five months

TruEstimate is an AI-powered solution that provides users with an accurate and up-to-date, data-backed property value estimation

Sheikh Mohammed amends law provisions on establishment of Financial Audit Authority in Dubai

Amendments to Article (36) made to establish a permanent Grievances Committee within the Financial Audit Authority

Gold prices hit new record high of $2,790.15, set for best month since March

Gold prices have gained close to 5 percent so far this month and almost 41 percent in the past year

UAE: Petrol, diesel prices for November 2024 announced

The prices will be applicable starting November 1

Dubai Internet City: 25 years of transforming Middle East’s digital landscape, empowering global tech firms

Dubai Internet City’s ecosystem has grown in 2024 to include multinational corporations, start-ups, and Fortune 500 companies 

Five UAE stocks that have gained the most since January 1

The DFM General Index recorded a 4.1 percent increase in September, its fourth consecutive monthly gain

Air Arabia Abu Dhabi to introduce new direct flights to Russia’s Yekaterinburg starting December 27

This new non-stop service will run twice weekly, offering convenient access between Zayed International Airport and Koltsovo International Airport

Egypt signs MoU with DP World to explore development of 500-acre public free zone 

This initiative aims to target key industries such as electronics, automotive, apparel, and footwear

e& reports strong results, consolidated revenue up 10 percent to $3.92 billion in Q3 2024

Q3 net profit stood at AED3 billion, and was reported at AED8.5 billion for the first nine months of the year

Etihad Airways to launch new flights to Egypt’s Al Alamein starting July 2025

The move will offer travelers direct access to the Al Sahel region, renowned for its vibrant and rapidly developing coastal resorts 

Dubai Real Estate Sector Strategy 2033 set to ignite surge in transactions, attract global investments

The strategy seeks to elevate economic impact through enhanced transparency and strategic investment initiatives

UAE gold prices soar, global rates hit record high ahead of Diwali

Markets are also bracing for a series of economic indicators in the coming days 

Top global ministers, energy leaders to convene at ADIPEC 2024 in Abu Dhabi

More than 1,800 speakers from across government, energy, finance and technology sectors will come together at the event

Multiply Group revenue soars 47 percent to $141 million in Q3 2024

The balance sheet remains strong, with cash balance of AED1.88 billion and additional liquidity of up to AED4 billion available for future investments

Abu Dhabi’s CYVN Holdings to acquire McLaren’s automotive business from Mumtalakat

CYVN Holdings investment would bring McLaren access to additional capital and expertise particularly in the field of electric vehicles

Dubai’s du profits rise 49.7 percent to $517.2 million in nine months

During Q3, net profit surged to AED719 million, representing the highest quarterly net profit in the past three years

Aldar net profit surges 52 percent to $1.25 billion as development sales reach $6.53 billion

Overseas and expat resident customer base now accounts for 76 percent or AED15.3 billion of Aldar's UAE sales