Business

UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and leaders of Brazil and Paraguay, Luiz Inácio Lula da Silva and Santiago Peña, witnessed the signing of a joint declaration for cooperation on the Bi-Oceanic Corridor.

The UAE will implement an additional voluntary cut in its oil output by 163,000 barrels per day (bpd) from the start of January to the end of March, in coordination with some OPEC+ countries.

Dubai Taxi Company (DTC) has announced its initial public offering (IPO) has raised AED 1.2 billion, after the share price was set at AED 1.85, the top end of the previously announced range.

A new rail link will connect Abu Dhabi City to Al Dhannah (formerly known as Ruwais) in Al Dhafrah region, under an agreement between Etihad Rail and ADNOC.

Dubai Holding has announced its participation as Principal Pathway Partner at the 28th meeting of the United Nations Climate Change Conference (COP28).

Sheikh Hamed bin Zayed Al Nahyan, Managing Director of the Abu Dhabi Investment Authority (ADIA), has discussed business relations between the UAE and the UK with senior UK Government officials at the Global Investment Summit in London.

American companies secured over $128 billion worth of deals at the Dubai Airshow, including one worth $52 billion between Emirates Airline and Boeing.

DP World's Jebel Ali Free Zone (Jafza) has successfully completed Phase 1 of Jafza Logistics Park, a multi-tenant warehousing facility developed in collaboration with Group AMANA.

UAE nationals, who've started work "for the first time" from October 31, will be covered under the new pension law, authorities have announced.

Gulf Air said its data was breached on Friday but its operations and vital systems were not affected, Bahrain's news agency BNA reported on Saturday.

Dubai Financial Market (DFM) will conduct a pilot programme for trading carbon credits, scheduled to debut at COP28. 

Dubai International Chamber, one of the three chambers operating under Dubai Chambers, has attracted a total of 92 businesses, including 15 multinational companies and 77 SMEs, to the emirate between January and September 2023.

Emirates has become the world’s first airline to operate an A380 demonstration flight using 100% Sustainable Aviation Fuel (SAF).

OpenAI on Tuesday said it reached an agreement for Sam Altman to return as CEO days after his ouster, capping frenzied discussions about the future of the startup at the center of the artificial intelligence boom.

Australia will give cyber health checks for small businesses, increase cyber law enforcement funding and introduce mandatory reporting of ransomware attacks under a security overhaul announced on Wednesday after a spate of attacks.

Dubai Taxi Company has announced the price range for the sale of its shares and the start of the subscription period for its initial public offering (IPO).

PureHealth Holding has announced its intention to proceed with an initial public offering (IPO) and subsequently list its shares on the Abu Dhabi Securities Exchange in December, subject to approvals.

Visitors heading to Paris for next year's Olympics face major accommodation problems amid soaring hotel prices and a crackdown on rentals of tourist apartments.

The Dubai Financial Market (DFM), Nasdaq Dubai and Shanghai Stock Exchange (SSE) have signed a Memorandum of Understanding (MoU) to strengthen ties between the capital markets of Dubai and China.

Dubai Chamber of Commerce attracted a total of 48,616 new member companies between January and September of 2023.

OpenAI named ex-Twitch boss Emmett Shear as interim CEO, while outgoing chief Sam Altman is set to join backer Microsoft in a surprise turn of events for the startup at the heart of an artificial intelligence boom.

Fitch Ratings has reaffirmed the critical role that COP28 will play in raising awareness of sustainability issues in the region and steering investment and financial requirements towards a more environmentally responsible approach.

Dubai Customs has experienced significant growth with 21.6 million transactions during the first nine months of this year, a 13 per cent increase.

The board of the company behind ChatGPT fired OpenAI CEO Sam Altman, who was the human face of generative AI to many, sending shock waves across the tech industry.

Dr. Sultan Al Jaber, the UAE's Minister of Industry and Advanced Technology and COP28 President, has been named in TIME magazine's inaugural TIME100 Climate list.

Samsung Electronics Executive Chairman Jay Y. Lee faces a final court hearing on Friday over accounting fraud and stock price manipulation charges involving an $8 billion merger of two Samsung affiliates in 2015.

The UAE’s Tawazun Council has signed 16 deals, worth AED 4.87 billion, with local and international companies on the fourth day of the Dubai Airshow, bringing the total value of the defence deals to AED 21.6 billion for 44 deals.

Emirates on Thursday announced an order for 15 additional Airbus A350-900s, worth $ 6 billion, at the Dubai Airshow.

flydubai announced on Wednesday, at a press conference held during the Dubai Airshow, its plans for a purpose-built $190 million MRO facility in Dubai South by 2026.

Propelled by strong growth throughout the first three quarters of the year and anticipation of an exceptional surge in guest numbers in the final quarter, Dubai Airports is forecasting annual passenger traffic at Dubai International (DXB) to reach 86.8 million – surpassing 2019 traffic.

The UAE's Tawazun Council signed 11 deals worth AED 6.9 billion with local and international companies on the second day of the Dubai Airshow.

Emirates Airline President Sir Tim Clark says they are taking a major chunk of its record profits - $2.6 billion for the first half of 2023-24 - and investing it back into the business.

The opening day of the Dubai Airshow on Monday saw UAE-based carriers Emirates Airline and flydubai place major orders for Boeing jets.

Sharjah recorded a total of 3,798 real estate transactions worth AED 3.6 billion in October, amid strong demand and robust economic growth.

Dubai Taxi Company will offer 624.75 million shares - representing 24.99% of the company's total share capital - in initial public offering (IPO) on the Dubai Financial Market.

Under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, Dubai Airshow, the world’s leading event for the aerospace, space and defence industries, will begin on November 13, at Dubai World Central (DWC).

The Government Development and the Future Office has launched a new white paper entitled “10 Future Emerging Opportunities, Government Leaders Should Be Ready For”, analysing the 10 most important future trends expected to take place over the next decade.

Abdullah bin Touq Al Marri, Minister of Economy, said UAE start-ups signed numerous cooperation agreements, while also building connections with Korean companies seeking to expand their operations through the UAE, at the COMEUP global start-up festival, held in Seoul, South Korea.

DP World Australia, which manages nearly half of the goods that flow in and out of the country, said it was looking into possible data breaches as well as testing systems "crucial for the resumption of normal operations and regular freight movement" following a cybersecurity incident.

Expo 2020 Dubai has reaffirmed its commitment to gender equality and women’s empowerment.

Expo 2020 Dubai and the United Nations Global Compact are joining forces to hold a Sustainable Development Goals Business Forum.

More than 2,500 online travel agents, tour operators, hotel groups and airlines have signed on as Authorised Ticket Resellers (ATRs) for Expo 2020 Dubai.

A spectacular line-up of sights, sounds and tastes await visitors at Expo 2020 Dubai, through a series of specially curated itineraries.

Apple on Tuesday launched the iPhone 12 with faster 5G connectivity, which the company hopes will spur a wave of upgrades and keep its sales booming through the end of the year.