ai Ramadan returns to Expo-City-Dubai-photo-WAM

Hai Ramadan returns to Expo City in March; here’s what to expect

The Ramadan-themed event is expected to held from March 9 to April 8 this year

Sam Altman, OpenAI CEO (on screen) speaks in a videocall with Omar al-Olama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications, during the World Government Summit in Dubai on February 13, 2024. (Photo by Ryan LIM / AFP)

OpenAI’s Altman reveals deepest AI fears, hopes to UAE audience

Sam Altman, the CEO of the world’s most well-known AI company, made a virtual appearance at the World Governments Summit in the UAE

Indian PM Modi with UAE President Sheikh Mohamed bin Zayed

Indian Prime Minister Narendra Modi lands in UAE for two-day visit

The Indian leader has a packed itinerary during his visit where he is scheduled to hold bilateral talks with the UAE leadership, attend the World Governments Summit, and inaugurate a temple

UAE allots $200m to fund innovation in developing nations

WGS 2024: UAE launches $200m technology fund for developing nations

The newly launched platform serves as a channel for countries worldwide to tap into the UAE’s technological expertise

Red Sea Global gets SAR2bn financing from Riyad Bank

Saudi Arabia’s Red Sea Global secures SAR2bn debt financing

The financing will be used to support Red Sea Global’s joint venture with Kingdom Holding Company to develop the Four Seasons Resort

For illustrative purposes

WGS 2024: New Buna system to ease cross-border payments in Arab region

The platform currently links 108 out of 120 Arab banks signed up, with a target of 160 by the end of 2024

UAE, Arab countries sign agreements to avoid double taxation

UAE signs agreements with Arab countries to avoid double taxation

The agreements seek to eliminate double taxation, additional taxes, indirect taxes, and tax evasion while addressing cross-border trade challenges

WGS 2024: Dubai inks MoU with global companies to produce SAF

Dubai Municipality, which leads the project, has partnered with ENOC, BESIX Middle East, and Marubeni Middle East and Africa Power

electric

What does the ‘all-electric lifestyle’ mean for businesses?

As conversation heats up over the energy transition, Qasem Noureddin, commercial director, Eaton Middle East, examines why circular economy thinking will be increasingly influential in the electrical industry

Masdar City - Alesca vertical smart farm

Masdar City launches first indoor vertical farm

The vertical farm uses 90-95 per cent less water than conventional farms

aramex

Aramex reports strong financial performance with 2x growth in Q4 2023 net income

While Aramex’s international express unit witnessed remarkable growth in shipment volumes and revenue, other business segments experienced softer performance

Truck ban on Abu Dhabi roads Image courtesy WAM

Temporary ban on heavy vehicles entering Abu Dhabi amid Indian PM Modi’s visit

These measures are part of the authorities’ preparations to manage traffic congestion and ensure public safety during the designated period

uae weather - school - rain - alef education - IPO

UAE weather: Work from home, remote learning extended to Feb 13

The National Centre of Meteorology has issued weather advisories covering a significant portion of the country until noon on Tuesday

Etihad passenger numbers up 35% year-on-year

Etihad Airways is starting to ramp up its operations as a post-Covid tailwind drives passenger growth

Investcorp plans 2024 listing of GCC portfolio company

Bahrain’s Investcorp plans 2024 listing of GCC portfolio company

The alternative investment firm listed Investcorp Capital on the Abu Dhabi exchange last year, defying a depressed market for IPOs

Dubai unlocks Dhs500m to fuel SME growth, here's how firms can apply Image-credit-WAM

Dubai unlocks Dhs500m to fuel SME growth, here’s how firms can apply

A dedicated specialist will conduct a comprehensive review of the applicants’ business followed by the joint steering committee’s review for inclusion in the initiative

MENA region dealmaking jumps 4% to $86bn in 2023

M&A activity in MENA region jumps 4% to $86bn in 2023

The UAE consolidated its status as the preferred destination for investors due to its business-friendly regulations and efficient legal framework

Saudi oil minister

Saudi Arabia to focus on energy transition, Aramco to maintain capacity: Prince Abdulaziz

Aramco chief executive Amin Nasser said he expected oil demand to increase to 104 million bpd this year and to 105 million bpd in 2025

UAE free zone corporate tax - OECD

UAE Free Zone Corporate Tax regime earns OECD’s ‘non-harmful’ recognition

The evaluation of the UAE’s Free Zone Corporate Tax regime was part of the OECD’s comprehensive review of taxation regimes worldwide

UAE remittances costs are set to rise.

UAE remittance fees set to increase by 15%

The Central Bank of UAE (CBUAE) has given the green light to the Foreign Exchange and Remittance Group (FERG) to allow their members to implement an optional strategic fee adjustment

IHC's Emirates Stallions Group

IHC subsidiary Emirates Stallions Group sees net profit rise 316% in 2023

Strategic portfolio expansion and key acquisitions led to an impressive 168 per cent and 202 per cent growth in the company’s assets and equity, respectively

Oil starts week lower on signs of easing Middle East conflict

Oil falls after weekly gain on signs of easing Israel-Gaza conflict

Geopolitical risks including a feared broadening of the Middle East conflict pushed oil prices up by about 6 per cent last week

tanmiah FY 2023 results Image courtesy Tanmiah

Saudi’s Tanmiah sees net profit rise 19.4% riding on poultry sales

Fresh poultry sales, the key contributor to FY 2023 profits, rose 18 per cent to SAR1.73bn over the previous year

Dubai private school students holiday

Dubai school holidays: When is the half-term break?

The absence of a mandated half-term break in the UAE’s academic calendar grants individual schools the flexibility to set their own schedules

Empower’s annual revenue up 8.7% in 2023

UAE’s Empower posts Dhs3bn in full-year revenue

The Dubai-listed firm proposed a final dividend of Dhs425m for 2023, which will be paid by April 2024

World Governments Summit

World Governments Summit Day 1: Nvidia’s Jensen Huang in Dubai

The 11th edition of the annual conference is expected to see participation from multiple countries and businesses

ADNOC Gas Q4 profit rises 24 per cent Image supplied

ADNOC Gas Q4 profit jumps 24%, FY’23 income tops estimates

For FY2023, ADNOC Gas’ robust performance continued, with net income reaching $4.72bn, significantly exceeding market expectations

OMAN - WEATHER - RAIN - ALERT

Oman weather alert: Holiday announced for employees, schools due to heavy rain

The anticipated heavy rainfall has raised concerns for localised flooding in low-lying areas

Dubai’s RTA, Joby partner to launch flying taxis by 2026

Flying taxis to connect DXB, Palm Jumeirah by 2026

A partnership between the RTA and Joby could see passengers being flown at speeds of up to 322km per hour between DXB and Palm Jumeriah

UAE Weather alerts - private sector - image GB

UAE weather: Safety alerts issued in Dubai, Abu Dhabi on Monday

The National Centre of Meteorology has issued weather warnings until February 13, with hail, thunder, lightning, rainfall and high winds expected throughout Monday