labour disputed drop in Abu Dhabi by 40 per cent Abu Dhabi Judicial Department photo WAM

Abu Dhabi sees 40% drop in labour dispute cases

The decline in labour cases reflects the success of the Abu Dhabi Judicial Department’s campaigns to raise awareness of the legal rights of employees

Bahrain unveils new visa

Bahrain unveils new ‘golden licence’ to attract investors

The new licence is part of an economic recovery plan launched by the Gulf state in October 2021 to boost investment and job creation

Abu Dhabi unveils fund to boost tourism

Abu Dhabi launches fund to boost business tourism

The fund aims to boost business-to-business events, provide financial support and incentives to event organisers and agencies

UAE pedestrian crossing

UAE: Pedestrian crossing violators face Dhs500 fine

Police officials have urged motorists to stop at crossings and give way to pedestrians

AD Ports completes merger

AD Ports completes merger of KEZAD Communities and Al Eskan Al Jamae

The merger has created Abu Dhabi’s largest integrated staff accommodation company

DMCC JLT photo Dubai Media Office

Dubai’s DMCC reports record Q1 2023 results, sees best first quarter since launch

The rise represents an 8.4 per cent year-on-year increase, and an average annual increase of 13.7 per cent over the last five years

Oil prices surges after OPEC+ cuts

Oil surges after OPEC+ makes unexpected crude production cut

Oil prices surged after OPEC+ pledged to make production cuts starting next month that will exceed one million barrels a day

UAE banks' net profits

Top 5 UAE banks’ combined annual net profit rises to $11.5bn in 2022

The sector is expected to maintain a stable outlook in 2023 driven by growing demand for digital services and industry competitiveness

uae-FDI-ranking -adobe-stock

UAE ranks 18th globally in FDI confidence index

The GCC countries were high in the emerging markets ranking with Qatar ranking fourth and Saudi Arabia ranking sixth globally

Dubai RTA opens two bridges, one tunnel

Dubai’s RTA opens two bridges, one tunnel under $1.4bn traffic plan

The project is aimed at easing traffic flow between Al Khaleej Street, Khalid Bin Al Waleed Road and Al Ghubaiba Road

IsDB - bank signs off on $403m

Islamic Development Bank approves three projects valued at $403m

The bank signed off on EUR318m ($344.5m) towards the financing of Phase I of the Electric Express Train Project in Egypt

Abu Dhabi announces new speed limits

Abu Dhabi: Speed limit on Sheikh Mohammed bin Rashid Road starts from May 1

Motorists driving below 120km/h on the first two lanes of the four-lane highway will be fined Dhs400

Empower plant

Shareholders of Dubai’s Empower approve $116m dividend

The company’s full-year net profit jumped by 7 per cent year-on-year to Dhs1bn in 2022 while its revenues reached Dhs2.8bn

EY projects $42.2bn boon to UAE economy from Expo 2020 Dubai

The pre-event phase contributed around one-quarter of gross value and the legacy phase will add 62 per cent

UAE reduces fuel prices

UAE reduces fuel prices for April

The fuel price committee marginally slashed the rates by 8 fils per litre, after two consecutive months of increases

Dubizzle owner mulls UAE IPO

Dubai-based owner of Dubizzle mulls UAE IPO

Emerging Markets Property Group is set to hire Rothschild & Co. for the potential IPO in Dubai or Abu Dhabi

Sheikh Hamdan launches create apps in dubai photo courtesy WAM

Create Apps in Dubai launches, aims to triple number of app creators by 2025

The initiative aims to support 100 new national projects for developing apps that will be made available in digital app stores over the next 24 months

Wio Bank new partnership

ADQ-backed Wio Bank, Paymentology partner to enhance SME banking

The digital bank offers SMEs seamless access to banking services while allowing them to move forward with innovative beyond-banking services

DFM and Dubai Chamber

DFM, Dubai Chamber of Commerce partner to boost IPOs

The two entities have partnered with advisory firms that are a key part of the city’s financial and business ecosystem

ADNOC GAS processing tanks

ADNOC Gas’ annual pro forma net profit surges by 37%

The company’s unaudited combined pro forma results follow its record IPO earlier in March

Aldar and Mubadala to work on developing Al Maryah Island Photo

Aldar Properties, Mubadala to jointly develop commercial tower on Al Maryah Island

Upon completion of the initial office tower’s construction, which is expected by the end of 2026, the property will be managed by Aldar Investment

Schengen visa application

EU inches closer to digitalise Schengen visa procedure

The proposal aims to make the visa application procedure more efficient and to improve the security of the Schengen area

QatarEnergyssigns two offshore explorations deals in Canada

QatarEnergy acquires stakes in two Exxon oil and gas projects in Canada

The company first entered offshore exploration in Canada in 2021 with a 40 per cent stake in ExxonMobil’s licence for EL 1165A

UAE leaders wish India on its independence Day

UAE President names new Vice President, Crown Prince of Abu Dhabi

Sheikh Mansour Bin Zayed Al Nahyan will serve as UAE Vice President alongside Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President and Prime Minister, and Ruler of Dubai

Bahrain GDP 2022 growth. Image by EDB

Bahrain’s economy expands by 4.9% in 2022, the fastest in a decade

The country’s non-oil sector grew by 6.2 per cent in 2022, the highest growth rate recorded over the past ten years

UAE Minister of State for Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi

UAE, Costa Rica to launch free trade talks

The CEPA programme was launched in September 2021 to expand UAE’s trade and investment partnership with several strategic global markets

11-year-old Dubai-based coder

Dubai-based 11-year-old girl develops app that detects eye diseases

The 11-year-old girl’s mobile app can analyse various parameters such as light and colour intensity to locate the eyes within the frame range

Borouge building material

Borouge supplies materials worth $26.5m to mega projects in MEA

The company’s materials contribute to reducing carbon emissions generated during the manufacturing process of the pipes and their operational lifespan

Aramco Rongsheng deal

Saudi Aramco bolsters China investments with $3.6bn refinery deal

The state-owned oil major said the deal includes the supply of 480,000 bpd of crude oil to Rongsheng refinery for 20 years