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UAE rallies private sector to realise 2050 net-zero pledge

The UAE has launched its first ‘Climate-Responsible Companies Pledge,’ in a bid to boost the private sector’s role in helping the country achieve its target of net zero carbon emissions by 2050 – dubbed the Net Zero 2050 Strategic Initiative.  More than 21 UAE-based companies have so far signed up to the pledge, unveiled by […]

UAE’s gold clean-up rules will shine in the long-term

New UAE gold regulations could take the shine off the sector and lead to a supply and profits squeeze, according to experts. The due diligence rulings were announced last week to help stem the flow of supplies from conflict zones and enhance the UAE’s global reputation in the long-term. The Due Diligence Regulations for Responsible […]

Saudi Crown Prince Mohammed bin Salman chairs the Supreme National Investment Committee

Saudi and UAE fire big shots in battle for regional dominance

Saudi Arabia has created a new authority to provide both financial and non-financial incentives for investment projects as its rivalry with the UAE to become the top regional business hub intensifies. The establishment of the National Incentives Committee (NIC) by the Council of Ministers has been described by analysts as a “major development” in the […]

UAE trade minister: ‘NextGenFDI is a game changer’

The United Arab Emirates is looking to compete against the world’s most popular cities for international businesses, the nation’s trade minister said as he announced incentives aiming to attract 300 digital companies to set up offices over the next year. “What we have seen in the last few years is that things are moving, despite […]

UAE seeks 27 trade deals as global growth slows

Global trade growth is forecast to remain resilient this year, expanding at a rate of three percent, despite a fierce onslaught of headwinds, according to the Dubai Multi Commodities Centre.  But that represents a significant slowdown from nearly 10 percent in 2021 when global trade hit a record-high of $28.5 trillion. DMCC’s Future of Trade […]

Many amateur investors took a hit when cryptocurrencies crashed but there is now a gap to exploit by those with a solid business plan

Crypto crisis will weed out the Gulf’s weak players, say analysts

The region’s cryptocurrency industry has grown rapidly – and is now being hit hard by the worldwide plunge in prices, but experts and businesses are welcoming the shake-up The value of the cryptocurrency market has slumped by more than $2 trillion since November, with bitcoin’s price dropping 70 percent and some in the sector laying […]

Blockchain is high on the agenda at this year's World Economic Forum in Davos

Crypto Oasis smashes Blockchain ambition in the UAE

The United Arab Emirates has set a new goal to attract 1,500 Blockchain-related entities by the end of 2022, after achieving its initial target of 1,000 seven months early. In January 2020, at the World Economic Forum in Davos, the Dubai Multi Commodities Centre (DMCC) announced a partnership with Switzerland’s Crypto Valley to develop the […]

Revealed: top co-working spaces in the Gulf

Demand for co-working spaces is on the rise in the Gulf as business communities evolve to support the shift towards knowledge-based economies and nurture a new generation of startups driving a different way of working. Spaces are opening up across the region to accommodate a different breed of worker that prioritises flexibility, low rates and […]