Tech DIFC Courts issues rules for robots, drones, AI and fintech The Dubai International Financial Centre (DIFC) Courts has issued a fresh set of rules designed to address digital business disputes across the emirate. The rules range from big data, blockchain, artificial intelligence, fintech and cloud services, to unmanned aerial vehicles, 3D printing and robotics. Established in 2004, the DIFC Courts is the English language, independent, […] December 14, 2022
Tourism Saudi tourism surges as foreign visitors spend 570% more in Q2 International visitors to Saudi Arabia spent SAR 15.7 billion ($4.17 billion) in the second quarter of this year, a year-on-year increase of 570 percent, as the country continues its recovery from the coronavirus pandemic. The kingdom welcomed 3.6 million tourists from April to June, a rise of 575.4 percent year-on-year, according to figures revealed by […] December 14, 2022
Analysis Employment Middle East tech boom leads to high price of talent The most significant barrier to technology adoption in the Gulf is a shortage of talent, according to Miriam Burt, managing vice president at Gartner. The latest forecast from the technological research and consulting firm revealed that IT spending in the Middle East and North Africa (Mena) region will total $178.1 billion in 2023, an increase […] December 14, 2022
Analysis Banking and Finance Corporate tax will make UAE ‘more open for investors’ The UAE’s decision to introduce a corporate tax will make the business environment more transparent and attractive for investors, according to experts. The tax, announced in January this year, will levy a standard rate of 9 percent on taxable profits of more than AED375,000 ($102,110). Profits up to that threshold will not be taxed in […] December 14, 2022
Food & Drink GMG-Silal deal aims to dish up customers for 1,100 UAE farms More locally grown food is set to be sold in UAE supermarkets under a link-up between retailer GMG and agri-food business Silal, a subsidiary of sovereign wealth fund ADQ. Under the deal, which was signed at last week’s Abu Dhabi International Food Exhibition, up to 1,100 UAE farms contracted to Silal will be supported to […] December 12, 2022
Economy China signed ‘$50bn of deals’ with Gulf nations in three days China signed investment deals worth an estimated $50 billion with Gulf nations during President Xi Jinping’s three-day visit to Saudi Arabia last week. The $50 billion figure was reported by Bloomberg, citing the Saudi investment minister Khalid Bin Abdulaziz Al Falih, but details of the agreements struck during the first Arab-China summit have not been […] December 12, 2022
