Sustainability Businesses urged to sign up to UAE’s Cop28 charter The Cop28 presidency has drawn up a Net-Zero Transition Charter to which private sector businesses can sign up to give greater credibility to their net zero strategies. The aim is to encourage the private sector to take “bolder action on climate change and commit to greater accountability in their net-zero emissions pledges,” according to a […] November 1, 2023
Banking and Finance Dubai launches $136 million venture capital fund Dubai Integrated Economic Zones Authority has launched a venture capital fund, backed by a AED500 million ($136 million) pot, to support tech startups. Oraseya Capital was announced at the Dubai Business Forum on Wednesday by Dr Mohammed Alzarooni, executive chairman of DIEZ Authority. He said Oraseya Capital’s key aim is to “foster innovation and drive […] November 1, 2023
Banking and Finance Fund managers hedge bets between Dubai and Abu Dhabi A growing number of hedge funds are choosing to register in both the UAE’s financial hubs, according to the CEO of a consultancy that advises businesses on setting up in the Emirates. Clare Curtis, CEO of Effecta Compliance, told an investment conference on Monday that there was strong interest in the Dubai International Financial Centre […] November 1, 2023
Renewable Energy Irena and industry leaders draw roadmap to fast-track renewables The energy transition away from fossil-based systems must be accelerated to keep global warming at bay, according to intergovernmental agency the International Renewable Energy Agency (Irena), headquartered in Abu Dhabi. Irena and the Cop28 presidency combined with a group of industry players – the Global Renewables Alliance (GRA) – in calling for a trebling of […] October 31, 2023
Real Estate Apartment prices rise on news of Dubai Creek Tower revamp The price of Dubai apartments with a view of what is intended to be the world’s tallest building have risen by nearly 10 percent since the project’s redesign was announced in August. Property developer Emaar hopes to start work on the revamped $1 billion Dubai Creek Tower next year. Sidharth Kumar, a real estate agent […] October 31, 2023
Finance DFM profit doubles to $51m as trading volume surges Dubai Financial Market (DFM) reported a 109 percent rise in net profit to AED186.2 million ($50.69 million) in the first nine months of the year, compared to AED89 million a year earlier. The profit was driven by a significant increase in trade volume and value, as well as an influx of new investors, according to […] October 31, 2023
Analysis Leisure & Hospitality UAE’s indoor entertainment smashes it out of the park Have you ever looked at your smartphone, laptop, or even that dreaded printer, with utter rage and felt the urge to crush it into tiny little pieces? You’re not alone – and the UAE’s The Smash Room offers just that service. It is now planning to break into the Indian and Saudi Arabian markets, as […] October 27, 2023
Opinion Business of Sport Why the Gulf should bid for the 2035 Rugby World Cup For the region and for the future of the sport, a Gulf Rugby World Cup makes perfect sense October 26, 2023
Tech Trash to treasure: how the Gulf is tackling e-waste Looking to buy a new smartphone? What are you going to do with your old one? Consumer appetites for the latest phones, tablets and wearables are making electronics the fastest-growing category of waste in the world. The amount of electronic waste in landfills worldwide is forecast to reach 74 million tonnes a year by 2030, […] October 24, 2023
Opinion Tech Halting the march of malicious bots To understand the extent of bad bot activity, organisations must first acknowledge their existence October 23, 2023
Opinion Economy Davos without the fondue – the WEF Global Future Councils The GFC is an insightful introduction to the World Economic Forum – and a nerd’s paradise October 20, 2023
Analysis Entrepreneurs Dubai protects city emblem as IP laws evolve A new law has been established to protect the official emblem of Dubai as part of evolving legislation aimed at improving intellectual property (IP) rights in the UAE. Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum, who is also vice president and prime minister of the UAE, has issued Law No. 17 of 2023, which […] October 18, 2023
Agriculture Dubai’s Expo City to open ‘urban farm’ at Cop28 Expo City Dubai plans to open an urban farm at Cop28, demonstrating agricultural technologies being adopted in the UAE. The farm – more details of which will be unveiled in the coming weeks – is one of several decarbonisation initiatives planned for the climate change summit and beyond, Matt Brown, Expo City’s sustainability chief, told […] October 17, 2023
Markets Belt and Road green bonds listed in Dubai by Chinese bank Bank of China has issued the first green bonds focused on Belt and Road Initiative projects in the Middle East, listing them on Nasdaq Dubai. The $770 million listing by one of China’s largest state-owned banks raises the total value of debt listed on Nasdaq Dubai to nearly $120 billion. The green notes have simultaneously […] October 16, 2023
Transport US developer to build flying taxis in Abu Dhabi The day is drawing closer when a taxi ride between Dubai and Abu Dhabi takes only twenty minutes in an aircraft built in the UAE. A US developer of electric vertical takeoff and landing (eVTOL) aircraft has signed an agreement with the Abu Dhabi Investment Office (ADIO) to set up a manufacturing centre in Abu […] October 16, 2023
Finance Dubai’s economy expands 3.2% on buoyant Q2 growth Dubai’s economy grew 3.2 percent year on year in the first half of 2023 to AED223.8 billion ($60.93 billion), supported by a 3.6 percent expansion in real GDP in the second quarter. The positive economic performance was driven by growth in sectors such as transportation, wholesale and retail trade, financial and insurance, and real estate, […] October 16, 2023
Tech UAE businesses and families splurge on video surveillance Dubai retail conglomerate Majid Al Futtaim has signed a deal to use artificial intelligence to boost security systems at its malls across the region. The company has signed an AED3.5 million ($950,000), three-year deal with Australia-based Icetana to upgrade camera streams at 16 of its sites. Icetana’s AI software can identify and report unusual or […] October 13, 2023
Aviation Dubai leisure airline courts Middle East investors A new luxury leisure airline, which is set to operate routes from Dubai and Riyadh to the Maldives, is looking for potential investors from the Middle East to fund its long-term expansion plans. Headquartered in Dubai, Beond was unveiled this week at the emirate’s Al Maktoum International Airport. Funding for the luxury airline came from […] October 13, 2023
Tech Dubai calls for global unity to regulate generative AI Senior Dubai officials and executives have called for more global regulation of generative artificial intelligence, but dismissed the notion that the technology will lead to widespread job losses. “We need to be ready … We need to understand how we can regulate something as big as AI,” Khalfan Belhoul, CEO of the Dubai Future Foundation […] October 13, 2023
Retail Rapid growth for Dubai retail despite rising costs Business activity and confidence in Dubai’s non-oil sector have returned to pre-pandemic levels, and retail in particular has shown growth. However, rising costs have brought a halt to hiring and the discounting of prices, according to a new survey published this month. The latest S&P Global Dubai Purchasing Managers Index (PMI) for September rose to […] October 13, 2023
