Business and economics news in UAE and around the world.
Amol Awasthi is a well-known businessman who currently resides in Dubai. He has established and led numerous successful businesses all over the world in his 21 years of professional experience. Due to his big achievements and smart plannings during his career, he has become a renowned leader in the business world. Amol has a remarkable …
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Dubai International Financial Centre (DIFC) has commenced construction on DIFC Square, a landmark commercial project featuring three interconnected buildings. This development aims to significantly enhance the Centre’s real estate offerings by providing Grade A office spaces and retail units, addressing the growing demand in Dubai’s financial district. Kazim, Governor of DIFC, highlighted the importance of …
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Mortgage transaction volumes in Dubai have surged to a 14-month high, reflecting the sustained strong demand for property despite relatively high interest rates in the UAE. According to Property Monitor, May witnessed a significant 57.9 percent increase in mortgage transactions, totaling 3,359 loans. This marks the second-highest level on record, trailing only March 2023. Data …
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Mahindra & Mahindra Ltd., renowned for its robust diesel SUVs, is making a significant leap towards cleaner transportation by investing 120 billion rupees ($1.4 billion) into its electric vehicle (EV) business over the next three years. This substantial investment underscores the automaker’s commitment to advancing electric mobility. In a recent post-earnings call, Rajesh Jejurikar, CEO …
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National Bonds, the UAE’s leading Sharia-compliant savings and investment company, has announced its inclusion as an investment option within the DIFC Employee Workplace Savings (DEWS) Plan. This strategic partnership marks a significant milestone, as National Bonds continues to enhance its portfolio and reach a broader audience. This announcement comes at a time of notable achievements …
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About 100 students from various nationalities and five schools in Dubai recently immersed themselves in the world of diplomacy and international relations through the first edition of Junior DIAMUN, a simulated United Nations (UN) conference. This event, hosted by Dubai International Academy (DIA) Emirates Hills, was themed ‘Innovating Towards a Sustainable Future’ and aimed at …
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The UAE’s digital-only bank, Wio, has achieved a remarkable milestone, recording a profit of Dh2 million in 2023, marking its first full year of operations. This significant achievement underscores Wio’s rapid ascent in the banking sector, as it has become one of the fastest neo-banks globally to reach profitability. The bank reported revenues of Dh266.4 …
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Meta’s popular messaging platform, WhatsApp, is on the verge of introducing a revolutionary feature that allows users to set AI-generated images as their profile photos. This development is aimed at providing a creative alternative for individuals who prefer not to use their personal photos. This new feature, which was first reported by WABetaInfo, has been …
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In a landmark deal, Omniyat, a renowned private luxury property developer, has announced the sale of a penthouse for Dh139 million ($37.8 million) in the prestigious Burj Khalifa district. This sale sets a new record for the most expensive property transaction in the area. The lavish four-bedroom penthouse is located at The Lana Residences, part …
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Consumer confidence in the UAE banking sector reached an all-time high of 90 percent in 2023, up from 84 percent the previous year, demonstrating the sector’s commitment to excellence, rapid digital transformation, and innovation. This remarkable trust score places the UAE above the global average and ahead of many leading international financial centers, highlighting its …
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Abu Dhabi National Oil Company (Adnoc) achieved a significant financial milestone by completing a $935 million placement of shares in its drilling unit, Adnoc Drilling, to institutional investors. The placement involved 880 million shares, equivalent to 5.5 percent of the total issued and outstanding share capital of Adnoc Drilling, enhancing the company’s free float to …
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Wall Street Meets Blockchain: How Swarm Markets Blurs the Lines Between DeFi and Traditional Finance Swarm Markets (SMT) is transforming the financial landscape by offering a unique platform that combines the innovation of Decentralized Finance (DeFi) with the regulatory framework of traditional finance. Here’s a closer look at what makes Swarm Markets stand out: A …
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Play Your Way into Crypto with This Gamified Experience Notcoin (NOT) has emerged as a unique cryptocurrency, attracting attention for its gamified approach to entering the crypto space. Launched in January 2024 with the backing of the TON Foundation, Notcoin aims to make cryptocurrency accessible and engaging for beginners. Earning Through Simple Actions Unlike traditional …
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In the world of cryptocurrency, volatility is a constant, and XRP is no exception. Recently, XRP experienced a notable setback after a failed attempt to breach the resistance level near $0.5570. This decline has sparked concerns and speculation about the future movements of this prominent digital asset. XRP’s struggle to maintain its upward momentum became …
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In the fast-paced world of cryptocurrencies, Solana’s meme coins, like DogWifHat ($WIF), have been capturing headlines with staggering gains, surging 827% since the beginning of the year. However, seasoned traders are beginning to hedge their bets with Ethereum’s emerging meme coin, Kai Cat ($KAI), as the crypto market’s focus may shift back to the veteran …
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