Nilesh Ashar, Senior Managing Director & Head of Tax Middle East, FTI Consulting offers insights on the impact of new taxes on the GCC

GCC countries: From tax havens to global business hubs

New tax regimes in the GCC nations will unleash a new era of growth and economic resilience for the region

DAMAC Group’s Hussain Sajwani to invest $20bn in US data centres

DAMAC Group’s Hussain Sajwani to invest $20bn in US data centres

EDGNEX, a unit of DAMAC, will construct new data centres in Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan, and Indiana

Bahrain’s GDP grows by 2.1% in Q3 2024, driven by non-oil sector

Bahrain’s GDP grows by 2.1% in Q3 2024, boosted by non-oil sector

The growth was primarily driven by the non-oil sector, which saw an increase of 3.9 per cent at constant prices and 1.5 per cent at current prices

Saudi Arabia’s Almoosa plans to list 30% stake on local bourse

EFG Hermes advises on $449m Almoosa Healthcare IPO on Saudi Exchange

The healthcare company began trading publicly on Tuesday and rose 15 per cent on debut as it hovered around the SAR139.60 mark

DP World hits $11bn investment milestone in 10 years

Dubai’s DP World hits $11bn investment milestone in 10 years

The company’s capacity has expanded by 33 per cent, driven by a combination of global expansion projects, including greenfield developments and acquisitions

Saudi Arabia taps debt markets with $12bn three-part bond

Saudi Arabia taps debt markets with $12bn three-part bond

The kingdom sold $5bn, $3bn and $4bn in tenors of three, six and 10 years, respectively, and the total order book reached around $37bn

Abu Dhabi sets up ADRA to streamline business licencing procedure

Abu Dhabi sets up ADRA to streamline business registration

The authority will develop a unified database consolidating data on economic establishments across Abu Dhabi’s mainland and its non-financial free zones

Zand Bank, Klickl International partner to advance digital finance

Zand Bank, Klickl International partner to advance digital finance

Zand Bank (Zand) has announced a strategic collaboration with Klickl International (Klickl), a Web3 open…

PIF secures $7bn inaugural murabaha credit facility

Saudi’s PIF secures $7bn murabaha credit facility

The Shariah-compliant financing structure forms part of PIF’s continued objective of diversifying its funding sources

Burj Khalifa hits Dhs467.1m in home sales in 2024

Dubai’s Burj Khalifa hits Dhs467.1m in home sales in 2024

The average price in the Burj Khalifa at the end of 2024 stood at Dhs3,000 per square foot, which is 78.5 per cent above the city-wide average of Dhs1,680

Dubai ranks among top 10 cities in Global Power City Index 2024

Dubai ranks among top 10 in Global Power City Index 2024

The Global Power City Index ranks the major cities of the world on their comprehensive power to attract people, capital, and enterprises from around the world

Energy Capital Group Successfully Closes ECG2.0-Fund2

Saudi’s Energy Capital Group closes oversubscribed SAR600m fund

ECG2.0-Fund2 anticipates exiting its industrial services platform through an initial public offering (IPO) targeted within two years

From Detroit to Dubai: Key trends reshaping the global automotive landscape

From Detroit to Dubai: Key trends reshaping the global automotive landscape

Dubai’s automotive market will connect to 77 ports managed by DP World globally and is expected to double the emirate’s current automotive sales from Dhs6.8bn to Dhs13.6bn

Mashreq seals NeoPay stake sale to Arcapita, Dgpays in $385m deal

Mashreq seals NeoPay stake sale to Arcapita, Dgpays for $385m

The deal will see Mashreq retain a minority stake in NeoPay, a payment solutions provider that offers a range of services, including point-of-sale terminals

UAE economy to grow 3% in 2023, says S&P Global

UAE non-oil sector growth accelerates, PMI data shows

The seasonally adjusted S&P Global UAE Purchasing Managers’ Index (PMI) rose to 55.4 in December from 54.2 in November, marking a third consecutive monthly increase

Sheikh Mohammed approves Dhs3.7bn Dubai road expansion plan

Sheikh Mohammed approves Dhs5.4 bn housing package for citizens in Dubai

The housing projects, offering diverse options for Emirati citizens, align with the Sheikha Hind bint Maktoum Family Programme

Abu Dhabi’s Etihad Airways posts 66% rise in nine-month profit

Etihad Airways flight aborts take-off in Melbourne, all passengers safe

Flight EY461, carrying 271 passengers, was accelerating for departure to Abu Dhabi when the flight crew opted to reject take-off owing to a technical issue

Dubai attracts 16.79 million tourists between Jan to Dec 2024

Dubai attracts 16.79 million tourists between Jan to Nov 2024

Dubai’s strong tourism performance and sustained growth in both visitor numbers and hotel performance indicate the emirate’s resilience and appeal

contracts awarded for phase 2 of al mamzar beach development project image courtesy WAM Dubai Municipality

Dubai awards contracts for phase 2 of Al Mamzar Beach Development Project

The first phase of the development, work on which commenced in June last year, has achieved 45 per cent completion

Decoding the future of health: How genetic testing at AEON Clinic is redefining longevity

With a focus on personalised medicine, AEON Clinic is redefining the way we approach health prevention and disease management

AD Ports Group expands global presence, boosts financial performance in 2024

AD Ports Group expands global presence, boosts financial performance in 2024

AD Ports Group continued its focus on digital transformation in 2024 with the acquisition of a 60 per cent equity stake in Dubai Technologies

ADGM unveils new fee structure, offers significant reductions

ADGM unveils new fee structure, offers significant reductions

The fee updates follow a series of consultations with the ADGM business community in 2023, focusing on expanding the jurisdiction and improving the ease of doing business

UAE weather: Rain, cloudy conditions expected today, tomorrow

UAE weather: Rain, cloudy conditions expected today

The weather is expected to be humid overnight and into Saturday morning over certain inland regions

Dubai Duty Free reports record annual sales of Dhs7.9bn in 2024

Dubai Duty Free reports record annual sales of Dhs7.9bn in 2024

DDF plans to continue enhancing its retail operations, with the final phase of renovations in the arrival shops across three terminals scheduled for completion early this year

Dubai among top cities to see high growth in prime residential property in 2024

Dubai real estate smashed records in 2024 – here are the 14 top-performing areas

The emirate witnessed a 36 per cent increase in sales volumes in 2024 and a 27 per cent rise in value when compared to 2023

How to turn 18 days’ leave into 51 days off in the UAE in 2025

With smart planning, you can maximise your leave by aligning your time off with the UAE’s public holidays and weekends

The Mubadala Investment headquarters building (centre) in Abu Dhabi, United Arab Emirates.

Mubadala overtakes Saudi Arabia’s PIF as world’s top wealth fund spender

Mubadala and its subsidiaries deployed $29.2bn in 2024, up from $17.5bn invested in 2023, according to a report from Global SWF

Qatar's trade surplus narrows to QR57.7bn in Q3 2024

Qatar’s trade surplus narrows to QR57.7bn in Q3 2024

While the trade surplus narrowed year-on-year, the growth in exports compared to the previous quarter highlights a resilient trade environment

UAE stock markets surge by Dhs257bn in 2024

UAE stock markets surge by Dhs257bn in 2024

The volume of shares traded during 2024 exceeded 142 billion shares; 90.16 billion shares traded on the ADX and 51.85 billion shares on DFM

Abu Dhabi’s GDP grows 4.5% in Q3 '24, led by non-oil sector

Abu Dhabi GDP grows 4.5% in Q3 ’24, led by non-oil sector

For the first three quarters of 2024, Abu Dhabi’s GDP grew by 3.9 per cent, with non-oil activities contributing a 5.9 per cent increase