Business

Dubai's Crown Prince, Sheikh Hamdan, unveiled the Dubai Universal Blueprint for Artificial Intelligence, marking a significant stride towards digital integration and economic advancement in the emirate. Launched as an annual initiative, the...

Abu Dhabi Airports, which manages five airports in the emirate, experienced a notable surge in passenger traffic during the first quarter of 2024, marking a substantial increase of over 35% compared to the same period in 2023.

Flynas, Saudi Arabia's budget airline, under the leadership of Chief Executive Bander Al Mohanna, has unveiled plans for an initial public offering (IPO) later this year, intending to list its shares on the Tadawul stock exchange.

In February, the Saudi central bank witnessed a decline in its net foreign assets, as per the data released by the central bank on Friday. The decrease amounted to $7.20 billion compared to the previous month's figures.

Saudi Arabia is actively diversifying its economy away from oil dependence by investing significantly in non-oil sectors, a move aimed at spurring growth rates and fostering economic resilience.

Qatar-based Commercial Bank has recently initiated the issuance of $750 million worth of bonds in U.S. dollars, with a maturity date set for 2029, according to documentation provided by one of the arranging banks on Tuesday.

Huspy, a pioneering real estate startup in Dubai, has introduced a groundbreaking range of mortgages in the UAE, boasting interest rates below 4 percent.

Dell communicated its new policies, set to take effect in May, through an internal memo that outlined requirements for hybrid staff.

Real estate transactions in Oman experienced a notable decline of 20.2 percent, amounting to OR207.8 million ($540 million) by January 2024, compared to OR260.5 million ($677 million) recorded during the same period in 2023, as per the latest figures...

Riyadh Air, Saudi Arabia's newest national carrier, celebrated its inaugural year on March 12, 2023, with a series of strategic alliances and agreements designed to enhance its operations.

The UAE and Brazil are collaborating to strengthen their already flourishing $4.3bn trade partnership. Juma Al Kait, Assistant Under-Secretary for International Trade Affairs at the Ministry of Economy, lauded the resilience of the UAE-Brazil trade...

Riyadh Air commemorates its inaugural year as it accelerates preparations for its anticipated launch in 2025, aiming to revolutionize air travel with sustainability at its core while setting new benchmarks for reliability, comfort, and service...

Saudi Arabia and China are bolstering air connectivity with the introduction of a new air route between the two nations.

Oman intends to supervise investments worth $31 billion in its tourism sector by 2040, as indicated by Azzan Qassim Al Busaidi, the Undersecretary of the Ministry of Heritage and Tourism.

The UAE has contributed $5 million to a World Trade Organization (WTO)-established $50 million fund intended to support female entrepreneurs.

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai and Chairman of Dubai Executive Council, recently chaired a meeting attended by Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture, to review...

Currie and Brown, experts in project management, predict that construction expenses in Saudi Arabia and the United Arab Emirates will increase this year.

Saudi Arabia and China have entered into a Memorandum of Understanding (MoU) in the realm of air transportation, intending to fortify bilateral air travel between the two nations.

According to official statistics, last year Dubai Customs processed 46,870,957 bags from 206,396 aircraft, or an average of 128,400 bags every day.

India has witnessed a notable upsurge in the population of multi-millionaires, with the count of individuals earning above Rs 10 million ($120,501) annually surpassing 216,000 as of December 31, 2023.

One97 Communications, the parent company of Paytm, is currently under scrutiny by the Reserve Bank of India (RBI) for alleged irregularities in its payment bank operations.

The Saudi Vision 2030 initiative has attracted $3 trillion in foreign investment, and businesses in the GCC are flocking to the kingdom to take advantage of all the possibilities it presents.

On February 4, Saudi Arabia launched the Sah, the first Shariah-compliant, government-backed savings product for individuals.

A public-private partnership project must not exceed SR 200 million, according to the revised executive regulations of the Saudi Arabian Privatization Law that were published in the official periodical Umm Al-Qura. The rules also established SR 50...

Saudi Export-Import Bank (Saudi Exim Bank) has entered into an agreement with the International Islamic Trade Finance Corporation (ITFC) to implement a $25 million financing line for Pakistan's Habib Bank Limited (HBL).

As part of the Emiratization goals for healthcare institutions in 2024 and 2025, the Abu Dhabi Department of Health recently revealed the addition of 3,800 new jobs for locals.

Dubai businesses are set to benefit from a new funding scheme as Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, launches the "Dubai International Growth Initiative."

A suspected drone struck the liquid storage tank at Dana Gas's Khor Mor facility in the Kurdistan Region of Iraq, as reported by the UAE-based energy firm.

In the Kingdom, the Saudi Zakat, Taxes, and Customs Authority has established new regulations governing Bonded Zone operations.

Saudi Justice Minister Walid Al Samaani has introduced a unified e-platform for estate distribution, aiming to streamline and expedite the process from the decedent's passing to the heirs receiving their shares. Unveiling the platform at the...

A Saudization effort has been announced by the Saudi Arabian Ministries of Human Resources and Social Development and Municipal and Rural Affairs and Housing, with the goal of influencing 25% of private sector engineering jobs.

The UAE has enacted Federal Decree-Law No. 12 of 2023, effective December 1, 2023, aimed at fortifying collaborations between the public and private sectors.

Recent reports suggest that some companies in the UAE are facing challenges in obtaining work visas for potential employees from specific South Asian nations.

A new Trust Certificate Issuance Programme with certificates priced in US dollars has been unveiled by Banque Saudi Fransi. In a filing with Tadawul on Wednesday, it was said that the amount and circumstances of the offering will be decided by...

Ahead of the commencement of the Vibrant Gujarat Summit (VGS) in Gandhinagar on January 10, the 'Country Seminar' concerning commerce between the UAE and India emphasizes the significance of jewels.

The renowned hospitality chain, Six Senses, is poised to welcome guests to its new hotel project, Wadi Safar, situated west of Diriyah and northwest of Riyadh in Saudi Arabia.

The Saudi government has introduced new tax incentives in an effort to entice multinational corporations to set up regional headquarters in the country.

Abu Dhabi Airports has recently disclosed an array of ambitious expansion initiatives for the Abu Dhabi Airport Free Zone (ADAFZ), encompassing the initial planning phase for the construction of Light Industrial Units (LIUs).

Saudi Arabia's prominent real estate developer, Dar Al Arkan, has revealed the introduction of Etoile by Elie Saab, marking the esteemed designer's inaugural branded residence in the Kingdom.

With the announcement of its fifth Saudi Arabian entertainment destination, SEVEN, a division of the Public Investment Fund (PIF), has reached a major milestone, as it is the first of its kind in the Aseer region.