Business and economics news in UAE and around the world.
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 …
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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 …
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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 …
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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 …
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In a significant development for the Indian diaspora and tourists in the UAE, PhonePe, a widely-used app in India, has expanded its services to the United Arab Emirates. This move allows users of the PhonePe App in the UAE to make payments at Mashreq’s NEOPAY terminals, which are available across numerous retail stores, dining outlets, …
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Emirates NBD, a premier banking group in the Middle East, North Africa, and Türkiye (MENAT) region, in collaboration with Marriott Bonvoy, Marriott International’s award-winning global travel program, and Mastercard, have unveiled two new co-branded credit cards in the UAE. This launch signifies an enhancement of the existing award-winning credit card partnership between Emirates NBD and …
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Navigating Self-Employment: Top 5 Financial Blunders to Avoid Embarking on the journey of self-employment means joining a vast community of business owners all aiming to realize their dreams. However, this path is filled with unique challenges, particularly in the financial realm during the initial phases. Avoiding certain pitfalls can significantly enhance the likelihood of achieving …
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Adnoc Gas, a key player in the energy sector, has announced a significant dividend payout for the year 2023, amounting to $3.25 billion. This decision was confirmed at the company’s first annual general meeting (AGM) since its landmark initial public offering (IPO) in March 2023. The distribution includes an inaugural interim cash dividend of $1.625 …
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In the United Arab Emirates, a novel school fee payment app is swiftly becoming a go-to solution for families seeking flexible payment options. This app, a product of the collaboration between Direct Debit System, a leader in paperless direct debit solutions for education, and fintech startup Zenda, is transforming how tuition and other educational expenses …
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AD Ports Group, a prominent player in the shipping and logistics sectors, is set to embrace significant shifts in global trade dynamics. In its 2023 annual report, released on Monday, the company outlines its strategic approach to the post-pandemic shift from “just-in-time” to “just-in-case” strategies. This evolution is being driven by new trade and investment …
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Huawei, the Chinese tech giant, and Chery Auto have reached a significant milestone with the start of mass deliveries of their Luxeed S7 electric sedan. This comes after overcoming challenges related to semiconductor shortages and production issues, as stated by Richard Yu, Managing Director and Chairman of Huawei’s smart car solutions, in a recent post …
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In the dynamic world of cryptocurrency, a well-regarded analyst has recently shared his bullish outlook for three digital assets, capturing the attention of the crypto community. The pseudonymous analyst Bluntz, known for his timely altcoin predictions, has communicated to his substantial following of 252,000 on the social media platform X, his positive stance on Solana …
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The UAE fuel price committee, in its latest announcement on Sunday, has set new fuel prices for April 2024, marking a noticeable increase from the previous month. The revised pricing structure indicates a surge in the cost of various fuel types including Super 98 petrol, Special 95, E Plus 91, and diesel, reflecting changes in …
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In an exciting development for Android users, Meta-owned WhatsApp has unveiled a major redesign of its app interface. The popular messaging platform has shifted its navigation bar from the top to the bottom of the screen, significantly enhancing ease of use. This change is particularly beneficial for one-handed operation, as it brings key features like …
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In a rapidly evolving global economy where companies are reassessing their technology investments, Indian tech giant Zoho has emerged as a pivotal player. Reporting a remarkable 43 percent revenue growth last year, Zoho has positioned itself as a leader in the business technology arena, amassing over 100 million users worldwide. This surge in growth and …
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