DIFC launches funds centre Image-Dubai-Media-Office-DIFC

DIFC launches new funds centre, reports rise in firms

The centre has launched a first-of-its-kind DIFC Funds Centre to support hedge fund spinouts, fund platforms as well as boutique wealth and asset management firms

Apple launches iPhone 16 as it bets on AI future

Apple debuts iPhone 16 with test AI software rolling out this year and next

The iPhone 16 lineup is the first Apple smartphone designed around these AI features, though they are expected to also be available on iPhone 15 Pro and Pro Max

M42 to manage, operate Zayed Military Hospital in Sharjah

M42 to manage, operate Zayed Military Hospital in Sharjah

M42 is set to officially commence full-scale operations at the military hospital in early 2025

UAE successfully conducts first-ever HAPS flights

UAE successfully conducts first-ever HAPS flights

HAPS technology, recognised by the World Economic Forum as one of the top ten emerging technologies, offers a sustainable solution for continuous Earth surface monitoring

UAE’s economy grew 3.4% in first quarter of 2024

UAE’s economy grew 3.4% in first quarter of 2024

The financial and insurance sector, trade activities and manufacturing were among the biggest contributors to non-oil GDP

OQ Exploration and Production to float IPO on Muscat Stock Exchange

Oman IPO: OQ Exploration and Production to float 25% stake on MSX

The subscription period is expected to commence this month, with the listing anticipated in October

Kuwait - jet fuel

Kuwait Petroleum became top jet fuel supplier to northwest Europe in 2024

The increase in the European jet fuel market share comes as Kuwait increased its exports of fuel oil, diesel, and jet fuel to Europe by five times until May 2024

Carrefour forays into India in partnership with Apparel

Carrefour teams up with Dubai’s Apparel Group to expand into India

The partnership will be aimed at North India initially, with further expansion planned across the country

Saudi Arabia’s real GDP shrinks by 0.3% in Q2 2024, oil weighs

Saudi Arabia’s real GDP shrinks by 0.3% in Q2 2024, oil weighs

The kingdom’s seasonally adjusted real GDP grew by 1.4 per cent compared to Q1 2024, as non-oil activities rose by 4.9 per cent YoY

Emaar The Economic City unveils SAR8.7bn COP, focuses on transformation

Emaar The Economic City unveils SAR8.7bn COP, focuses on transformation

The plan, developed based on extensive assessment and analysis, aims to provide a comprehensive solution to stabilise the company’s financial and operational platforms

Tourism’s share to UAE GDP seen at Dhs450bn by 2031

Tourism’s share of UAE GDP to hit Dhs450bn by 2031

The sector’s contribution to the economy rose by 11.7 per cent to Dhs220bn last year and is forecasted to rise to 12 per cent or Dhs236bn in 2024

UAE President host Egyptian Minister Dr Badr Abdel Ati, Egypt's Minister of Foreign Affairs and Migration Image WAM

UAE, Egypt discuss strategic cooperation during high-level meet

The discussion focused on enhancing bilateral cooperation across economic, developmental and political spheres

Hisham Farouk, CEO, Grant Thornton UAE

Grant Thornton’s Hisham Farouk on trade, sustainable finance and ESG

The UAE division’s CEO discusses the firm’s strategies for bolstering cross-border business and the importance of sustainable finance, ESG and digital transformation

Sheikh Khaled bin Mohammed bin Zayed Al Nahyan, Crown prince of abu Dhabi arrives in New Delhi Image WAM

Abu Dhabi Crown Prince arrives in India on state visit

The Crown Prince is accompanied by a high-level delegation including ministers, senior officials and business leaders

ADQ to manage Abu Dhabi's DARB, Mawaqif toll systems

ADQ to manage Abu Dhabi’s DARB, Mawaqif systems

This move is part of the holding company’s broader strategy to develop cluster ecosystems and foster long-term value creation

UAE visa amnesty MOHRE introduces news services to rectify status Image for illustrative purposes GettyImages

UAE visa amnesty: New services to help rectify status, fine exemption

MoHRE has made the services available through its website, mobile app, and business and domestic worker service centres

Sustainability is a business priority, says PwC's Stephen Andersen

‘Sustainability is a business priority’, says PwC’s Stephen Anderson

Anderson, who is the strategy lead at PwC Middle East, provides insights into the integration of sustainability into business operations, and the emerging trends that are shaping its future in the region

Dubai Mashreq Metro Station renamed to insurancemarket

Mashreq Metro Station gets new name; more details here

RTA will begin implementing the new name on both external and internal signage, including directional signs, smart systems, public transport apps, and onboard audio announcements

Mohsin Hani Al-Bahrani: Building upon MHD Group’s five decades legacy

Mohsin Hani Al-Bahrani: Building upon MHD Group’s five decades legacy

The head of MHD ACERE credits his grandfather, the late Mohsin Haider Darwish, with having a long-term vision that laid the foundation for one of the leading family businesses in the GCC region

Saudi Arabia sees Italy as partner of choice on green products

Saudi Arabia sees Italy as partner of choice on green products

The kingdom aims to grow its production capacity for low-carbon products to diversify away from oil and gas business

Wizz Air to launch launch long haul route from Abu Dhabi to Milan in 2025 Pic for illustrative purposes

Wizz Air launches first long-haul service from Abu Dhabi to Milan

Starting June 2, 2025, the daily direct flights will be operated by the airline’s new Airbus A321XLR aircraft, offering fares from as low as Dhs429

OPEC+ agrees to delay October oil output hike for two months

OPEC+ agrees to delay October oil output hike for two months

The remaining OPEC+ cuts of 3.66 million bpd, agreed in earlier steps, are staying in place until the end of 2025

Fourth Milling Company to float IPO on Saudi's Tadawul Image for illustrative purposes GettyImages-1255343916-e1723528847456

Fourth Milling Company to float IPO on Tadawul

The company has a robust presence in the Saudi flour market, and it is known for its premium FOOM brand, which holds the largest market share

How AIX is scaling investment to new heights

Scaling new heights: How AIX is redefining global investment opportunities

From navigating market fluctuations to seizing new avenues for growth, AIX has demonstrated resilience and agility at every turn

Barakah Nuclear Plant Unit 4 begins commercial operations

Barakah Nuclear Plant’s Unit 4 begins commercial operations

The Barakah plant is generating a quarter of the UAE’s electricity needs, providing a stable pipeline of power for the next 60 years

Emirates Steel Arkan rebrands as EMSTEEL

Emirates Steel Arkan eyes global growth, rebrands as EMSTEEL

With shares of 11 per cent in Abu Dhabi’s manufacturing activity output and 60 per cent in the UAE’s steel market, EMSTEEL plays a key role in delivering the UAE’s industrial strategy

UAE's Rebound launches subscription-based recycling platform

UAE’s Rebound launches subscription-based recycling platform

Rebound’s platform expansion comes at a time when the UAE’s plastic recycling market alone is projected to reach 1.44 million tonnes by 2030

UAE, Jordan sign $2.3bn agreement to build railways

UAE, Jordan sign $2.3bn agreement to build railways

The rail projects, as well as other investment initiatives, are part of the $5.5bn investment projects package signed by the two countries last year

EtihadWE inaugurates four stations across emirates, invests Dhs422m

EtihadWE inaugurates four stations across emirates, invests Dhs442m

The substations are monitored remotely using advanced equipment, allowing for greater operational efficiency and reducing maintenance requirements

Saudi Arabia scraps hotel licencing fees in bid to boost tourism

Saudi Arabia scraps hotel licencing fees in bid to boost tourism

The initiative is part of the Tourism Investment Enabler Program that is aimed at making Saudi Arabia a global tourism powerhouse