Business and economics news in UAE and around the world.
EasyLease, a prominent player in integrated mobility solutions and a subsidiary of the International Holding Company (IHC), has recently expanded its reach in the regional mobility sector by acquiring a 60% stake in United Trans. Known for its expertise in rail and transportation technology solutions, United Trans is a subsidiary of Alserkal Group of Companies, …
Read more
This Eid Al Fitr, which is anticipated to fall on April 9, many UAE residents are choosing staycations over traveling abroad, as airfares soar to new heights. With the potential for a six to nine-day holiday period, local hotels are seizing the opportunity to attract residents and GCC visitors with enticing staycation deals. In a …
Read more
Polygon (MATIC), a well-known cryptocurrency, has recently seen a notable decline in its price over the past 48 hours, ending a two-week downward trend. This price drop has brought MATIC under $0.900 for the first time since mid-February, presenting what appears to be a golden opportunity for investors to accumulate the digital asset. The current …
Read more
The crypto world is buzzing with a new trend in Real World Assets (RWA)-themed altcoins, and Santiment, a prominent cryptocurrency analysis company, has just revealed which of these altcoins are capturing the most developer attention lately. The analysis is based on the amount of development activity these projects are seeing, providing insights into where the …
Read more
Ethena Labs has made a notable entry into the cryptocurrency world with the launch of its governance token, $ENA, alongside the expansion of its USDe stablecoin. This launch has quickly captured the attention of the crypto community, including commendations from notable figures like Arthur Hayes, former CEO of BitMEX. However, Ethena’s journey to this point …
Read more
The cryptocurrency market is witnessing significant activity with a series of large-scale transactions involving Solana (SOL), attracting attention from investors and market analysts. Solana’s price, which briefly soared above $200, experienced a downturn last week, falling below $190. This shift in market dynamics has prompted notable actions by Solana whales – investors holding large amounts …
Read more
Binance, the world’s leading cryptocurrency exchange by trading volume, is tapping into the creative minds of developers to craft the next big memecoin on its BNB Chain. The exchange has announced the BNB Chain Meme Innovation Battle, offering an enticing prize pool that could reach up to $1 million, marking a significant push to encourage …
Read more
The United Arab Emirates’ national airlines have shown remarkable growth, expanding their global reach to approximately 603 destinations by the end of the first quarter of 2024. This represents a significant three percent increase from 586 destinations at the end of 2023. This expansion not only reflects the resurgence of the aviation sector but also …
Read more
Du, also known as Emirates Integrated Telecommunications Company (EITC), has made a significant stride in the digital finance domain by acquiring licenses from the Central Bank of the UAE to offer new digital financial services. This move aligns with the company’s strategy to introduce innovative financial solutions, contributing to the development of a sophisticated and …
Read more
Salik Company PJSC, the sole toll gate operator in Dubai, has declared a significant cash dividend distribution of Dh550,035,000, equivalent to 7.3338 fils per share. This distribution, announced on Tuesday, represents a complete 100 percent of the net profit for the second half of the fiscal year ending December 31, 2023. The announcement came during …
Read more
The holy month of Ramadan is witnessing a remarkable surge in online shopping across various retail and service categories in the UAE, signaling a growing confidence in the country’s digital payment ecosystem. A recent report released on Tuesday by Checkout.com, a financial technology company, reveals that consumers are increasingly trusting and finding convenience in online …
Read more
The United Arab Emirates has made a significant leap in the global arena, securing the No. 8 spot in DHL’s Global Connectedness Report. This prestigious ranking positions the UAE among the world’s top 10 most globalized countries, a testament to its rapidly expanding connectivity. Notably, the UAE has achieved the highest increase in performance since …
Read more
Dubai is making a significant stride in enhancing its business environment by upgrading its long-term business licensing scheme. This move, intended to attract more investors and business owners, is set to include offering “golden” licences, as reported by company formation experts to AGBI. These enhanced licences, including options that extend up to a decade, which …
Read more
Abu Dhabi is set to become a significant player in the global life sciences industry with the launch of Arcera, announced by the emirate’s sovereign wealth fund, ADQ. Arcera, a new company, will operate as a central entity for ADQ’s shareholdings in Acino (Switzerland), Birgi Mefar Group (Turkey), and Amoun (Egypt). This strategic move aims …
Read more
March brought a wave of bustling trading activity to the Dubai Financial Market (DFM), according to the latest report released by Kamco Invest’s GCC Markets Monthly Report on Monday. The total volume of shares traded on the DFM saw a significant increase of 36.9 percent, soaring to 4.8 billion shares, up from 3.5 billion in …
Read more