Dubai is stepping its attempts to become a worldwide industrial and manufacturing center, attracting big investments in critical areas such as aircraft, pharmaceuticals, and medical equipment, among others. Founded in 2004, Dubai Industrial City is home to over 750 firms and hundreds of innovative factories producing everything from auto parts to coffee employing fourth industrial […]
Dubai has a long history of being a hub for gold and silver trade, and it’s not uncommon for the city to release new coins as part of its ongoing efforts to promote its status as a center for precious metals. Dubai’s DMCC has unveiled prototypes of a new series of gold and silver bullion […]
Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, led a delegation of more than 30 UAE business leaders on a visit to the Republic of Georgia. The delegation participated in the first UAE-Georgia Business Forum in Tbilisi, aiming to promote bilateral investment and trade opportunities and private-sector collaboration. The forum was […]
Mubadala Business Management Services (MDC BMS), a wholly-owned subsidiary of Mubadala Investment Company, has announced its rebranding to Solutions+, a Mubadala Company. The company’s core offerings will continue to support the back-office engine of major companies in the UAE and globally by providing crucial infrastructure functions such as operations and digital services. Solutions+ aims to […]
DP World Limited, a global port operator, has announced strong financial results for the year ending 31st December 2022. The company reported a revenue growth of 58.9%, which led to an increase in revenue of AED 23.31 billion ($6.35 billion) to AED 62.89 billion ($17.13 billion) on a reported basis. Earnings Before Interest, Taxes, Depreciation, […]
Abdulla Abdul Aziz Al Shamsi, the Acting Director-General of the Abu Dhabi Investment Office (ADIO), has highlighted the office’s global expansion over the past two years. During this period, ADIO has successfully opened eight representative offices in various global economic capitals, emphasizing the office’s efforts to attract more companies specializing in innovation and technology to […]
Brent crude futures dropped $2.01, or 2.4%, to $80.77. Earlier in the day, the global benchmark hit a session low of $78.34, marking its lowest price since early January. Meanwhile, U.S. West Texas Intermediate crude futures (WTI) fell $1.88, or 2.5%, to $74.80 a barrel. WTI had earlier hit a low of $72.30 a barrel, […]
According to a recent report from the Chinese news agency, Xinhua, China has once again secured its place as the world’s largest logistics market for the seventh consecutive year in 2022. The country’s logistics sector revenue reached 12.7 trillion yuan (about US$1.82 trillion) last year, as per the data provided by the China Federation of […]
Dubai’s non-oil private sector economy continued to expand last month as output growth reached its highest rate in four months. According to S&P Global purchasing managers’ index reading, business activity in Dubai’s economy showed a reading of 54.1 in February, down from 54.5 in January, yet still well above the neutral 50 level. The reading […]
Brent crude, the international oil benchmark, dropped by up to 2.8% on Friday morning in New York after reports that the United Arab Emirates (UAE) is considering leaving the Organisation of the Petroleum Exporting Countries (OPEC), a powerful oil producer alliance consisting of 13 members. However, Brent later regained its losses and turned positive, trading […]
