EDB partners with ADDED

Make it in the Emirates: EDB joins hands with ADDED

The development bank is playing a vital role in supporting the UAE’s industrial strategy by providing financial assistance and driving sustainable growth

Ajman Holiday Homes

Landlords, hotel owners can rent out short-term holiday homes in Ajman

The holiday homes services create a comprehensive regulatory framework to govern and supervise the operations of short-term rentals

Winners of the startup pitch competition

Make it in the Emirates: MoIAT reveals startup pitch competition winners

Twenty-four startups were shortlisted to participate in the competition by a panel of industry experts from a pool of almost 400 submissions

New cancer drug-from-Astrazeneca-launched-in-the-UAE-Image-credit WAM

New drug to treat liver, lung cancer now available in UAE

The UAE is one of the first countries in the Middle East to receive the medication

Americana Restaurants on MSCI UAE Index

KFC, Pizza Hut holding firm Americana Restaurants lists on MSCI UAE Index

The index is widely recognised as an important benchmark for investment decision-making by investors in emerging markets

Zest Pharmacy retail outlet

Aster Pharmacy, Spinneys launch Zest Pharmacy in Abu Dhabi

The pharmaceutical concept will provide a wide range of products including skincare, nutrition, cosmetics and mother and childcare

DUBAI - RENTAL AREAS

Dubai property sector sees 11,700 transactions worth Dhs34bn in May

According to Property Finder’s proprietary data, the top searched areas for owned apartments in May included Dubai Marina, Downtown Dubai, Business Bay, Palm Jumeirah, and Jumeirah Village Circle

Tabby

Dubai buy now, pay later firm Tabby raises debt to $350m

The financing round for Tabby was led by US-based Partners for Growth, Atalaya Capital Management and CoVenture

UAE Exports to lead country's growth

UAE exports projected to reach Dhs2tn by 2030: report

The country’s transformation to a high-tech manufacturing and innovation hub will see its exports reach around Dhs2tn by 2030

Adnoc private sector

ADNOC, Nafis to create 5,000 new private sector jobs

ADNOC Group has partnered with Emirati Talent Competitiveness Council to empower UAE talents to take leading roles in sustainable development of the industrial sector

FAB allots $1.3bn in financing

UAE’s FAB to provide $1.36bn in financing solutions to investors

The bank will offer competitive financing solutions to support the adoption of advanced technology in the industrial sector

RTA

Dubai’s RTA unveils new parking signs with fee details and payment options

The latest statistics revealed that over 80 per cent of customers prefer to pay their service fees via mobile phones and smart tablets

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ADNOC L&S soars over 50% above listing price on ADX

ADNOC L&S expects to increase the annual dividend per share by at least 5 per cent per annum

midday break for outdoor workers comes into place June 15

UAE announces midday break timings for outdoor workers in summer

The midday break regulations start June 15 and will stay in place for a period of three months

UAE corporate tax_free zones

Corporate tax: UAE exempts free zones from business tax

The government said qualifying entities in the country’s economic free zones will be subject to a 0 per cent rate

Image WAM for illustrative purposes Abu Dhabi reduces speed limit on Sweihan road

Abu Dhabi: New speed limit announced for Sweihan Road from June 4

The speed limit will reduce from 140kmph to 120kmph from Sunday

Tamimi markets sells 30% stake to PIF

Saudi wealth fund PIF to acquire 30% stake in Tamimi Markets

The deal is aimed at supporting Tamimi Markets’ growth plans including a potential initial public offering

Qatar real estate forum begins. Image: supplied

Qatar Real Estate Forum’s inaugural edition begins in Doha

The two-day forum brings together the real estate supply chain operating in Qatar under one roof

Amazon Saudi Riyadh Fulfillment Center Inauguration Image credit Amazon

Amazon launches new fulfillment centre in Riyadh

The facility spans 390,000 square feet across five floors – approximately the size of five football fields

satellite component by STRATA

Strata Manufacturing delivers MBZ-SAT satellite components to MBRSC

This partnership showcases the technological advancement in locally manufacturing satellite components as the UAE builds a space industry

Sultan Haitham City image credit Twitter Oman News Agency

Oman unveils plans to build Sultan Haitham City

The smart and sustainable city will cover an area of approximately 15 million square metres

Saudi-backed Lucid Air sedan

Saudi-backed electric car maker Lucid plans to raise $3bn

The automaker plans to use the proceeds for general corporate purposes including capital expenditures and working capital

Dubai visit visa 10-day grace period removed-photo-courtesy Dubai Media Office

Dubai visit visa: 10-day grace period removed for travellers who overstay

Visitors who overstay their visa will have to pay a fine of Dhs50 per day

Dubai Healthcare Authority

Number of Dubai healthcare facilities jump 11.5% in Q1 2023: DHA

The healthcare facilities provide care across a range of medical specialities and sub-specialities

TAQA, ENGIE & EWEC desalination plant.jpeg

TAQA, ENGIE and EWEC close $620m financing for desalination plant

The plant will desalinate seawater using low-carbon intensive reverse osmosis technology to produce water sufficient to meet the demand of up to 210,000 households

PALM JEBEL ALI

Palm Jebel Ali greenlit by Sheikh Mohammed as part of Dubai 2040 Urban Plan

Palm Jebel Ali, in its scope is twice the size of the iconic Palm Jumeirah and is part of the portfolio of projects being developed by Nakheel

Dubai ICD posts record profit

Dubai wealth fund ICD records full year profit of Dhs36.1bn

The wealth fund said its banking and financial services division, the largest contributor in 2022, generated Dhs15.3bn in net profit

EDB finance deals

Make it in the Emirates Forum: EDB unveils Dhs424m in financing deals

The deals come as part of the bank’s mandate to approve Dhs30bn in funding support to companies in the UAE within five key focus sectors

PwC Middle East

PwC Middle East inaugurates regional headquarters in Riyadh

This comes as part of the firm’s broader commitment to the region to create 6,000 new jobs and continued investment in digital technology and ESG

orporate tax Image-by-WAM

Corporate Tax: MoF issues 3 new decisions, includes rules for determining taxable income

The new decisions will help determine taxable income in addition to providing tax relief for intra-group transfer of assets or liabilities between members of the same qualifying group