Bitcoin

Bitcoin jumps to more than two-week high

Smaller tokens ranging from Ether to Binance Coin also posted gains

Dubai customs

Dubai Customs brings in customised x-ray scanning system

The new installation will speed up clearance operations for heavy and light vehicles, equipment, and yachts at the Jebel Ali and TECOM Customs Centre

UAE and Poland seeks to bolster ties

UAE, Poland seek to strengthen financial and economic ties

The two countries agreed to strengthen their cooperation and exchange knowledge, experiences and best practices in the field of tax policy

Housing programme _ Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai image credit: Dubai Media Office

Sheikh Mohammed approves Dhs1.6bn in housing loans

Housing loans for 2,000 Emiratis were approved under the Sheikh Zayed Housing Programme

RTA reveals net zero operations plan image RTA

Here’s how Dubai’s RTA will transition to zero-emission operations by 2050

The strategy will help reduce carbon dioxide emissions by 10 million tonnes and contribute to financial savings worth Dhs3.3bn in comparison to current operations

Hyundai Group EV investment

Hyundai Motor, LG plan $4.3bn EV battery plant in US

Construction of the EV battery facility will start in the second half of 2023 and production will begin as early as the end of 2025

Tadweer kaunches new electric waste lorry image wam

Abu Dhabi’s Tadweer introduces first fully electric waste-collection truck

The truck will be used to collect household waste in the emirate

Dubai Municipality introduces new online system for building permits image Dubai media office

Dubai introduces new online platform for building permits, control services

The new system will help streamline procedures and reduce the required application documents, making it easier for customers to input data and track application updates

Corporate tax transitional rules-Photo-courtesy-WAM

UAE corporate tax: MoF issues transitional rules for businesses

The decision applies to immovable property, intangible assets, financial assets and financial liabilities held by businesses before the corporate tax law comes into effect on June 1

Hakuto mission mapped image credit ispace

HAKUTO-R lunar mission results announced, here’s what happened

The analysis reveals that the cause of the lander’s failure to make a soft landing was due to the software, especially in the phase just prior to landing

Ford Tesla

Ford taps Tesla superchargers in rare partnership

Ford’s next-generation vehicles, starting in 2025, will have the Tesla charging capability built in

critical mineral

UK-GCC trade talks: Saudi Arabia-leg sees focus on critical minerals

The UK and Saudi Arabia signed a declaration of intent to jointly develop resilient and responsible critical mineral supply chains

Gitex Africa

HP to showcase future-ready hybrid work portfolio Gitex Africa

The technology event will take place from May 31 to June 2 in Marrakech

Honor

Ahead of the game: Honor’s quest to become the preferred choice in the Middle East

The GCC has witnessed huge commitment from the global technology brand to drive innovation, aiming to create a smarter and more inclusive future for all

Public cloud

Public cloud’s contribution to UAE economy could reach $181bn by 2033 – report

Amazon Web Services commissioned a study to provide an econometrical method for calculating the aggregate productivity gains realised by economies that adopt cloud computing

micky jagtiani image credit Landmark group

Dubai’s Landmark Group founder Micky Jagtiani passes away

A constant innovator, the Indian billionaire created and led more than 27 diverse brand concepts

Penelope Cruz onboard Emirates A380. Image credit: Emirates Airlines

Penelope Cruz is the new brand ambassador of Emirates Airlines

Academy Award-winning actor Penelope Cruz will star in a global advertising campaign for Emirates Airlines set to be launched come June 2023

Bahrain (Image: Supplied by Qatar Airways)

Qatar Airways resumes flights to Bahrain

It has commenced with a daily flight between the two destinations, and will increase it to thrice-daily services later this year

Ministry of Interior

Ministry of Interior, Etihad Rail ink MoU on strategic cooperation and coordination

Under the MoU, the two parties will work towards enhancing readiness to confront security risks and threats, improving security and safety measures and strengthening civil protection

Sheikh Mohammed bin Rashid at Jebel Ali public beach. Image credit: Dubai Media Office

Sheikh Mohammed approves master plan for Dubai’s public beaches

The proposed development forms part of the Dubai 2040 Urban Master Plan, and aims to increase the length of public beaches by 400 per cent

Majid Al Futtaim issues sukuk

UAE’s Majid Al Futtaim issues $500m green sukuk

The conglomerate will use the proceeds from its fourth green sukuk issuance to refinance an older $800m bond commitment due in May 2024

Mansoor Ebrahim Al-Mahmoud, QIA CEO on sovereign wealth funds in private credit. Image credit: QIA

Sovereign wealth fund QIA joins SoftBank, BlackRock in private credit push

Sovereign wealth funds like the QIA have been increasingly looking at private credit, providing evidence of the market’s rapid growth

Magic5 Pro

Honor unveils Magic5 Pro, Magic Vs flagship smartphones in the UAE

The Magic series will be available for pre-order starting May 25 until June 1

TII unveils its Falcon 40B

Abu Dhabi’s TII unveils its Falcon 40B AI model open source

Falcon 40B is a foundational large language model with 40 billion parameters and trained on one trillion tokens

Google

Google teams up with UAE organisations for AI research and sustainability initiatives

The announcement was made during an event at the MBZUAI campus, where Google introduced three significant initiatives

Adnoc L&S IPO is oversubscribed. Image credit: WAM

ADNOC Logistics gets $125bn in orders for $769m IPO

ADNOC sold 1.41 billion shares in its maritime logistics unit at Dhs2.01 a share, valuing the company at $4.05bn

Karim Awad Group CEO EFG Holding

EFG Hermes Holding rebrands as EFG Holding

The change in the brand name will not impact the current management structure and reporting lines, day-to-day operations, or the level of support and cross-selling that will continue between the group’s three verticals

Taweelah Reverse Osmosis achieves 90 percent capacity

EWEC’s Taweelah Reverse Osmosis facility surpasses 90 per cent capacity

The facility is currently producing 183 MIGD of desalinated water making Taweelah the world’s largest operating reverse osmosis facility

TaxGPT Worlds-First-AI-Powered-Corporate-Tax-Assistant image: Virtuzone

Introducing TaxGPT, the AI-powered UAE corporate tax assistant

Virtuzone has launched TaxGPT to help UAE-based businesses get answers related to the upcoming corporate tax regime based on information from the UAE’s MOF and FTA

Crude oil market on tenterhooks over OPEC meet. Image credit: Getty Images

Oil watchers predict OPEC+ to maintain steady supply

Forecasters predict OPEC+ to keep output steady due to demand in China, and the current curbs, should rapidly deplete world inventories