DUBAI: Global logistics giant DP World has reached a major sustainability milestone—65% of its electricity came from renewable sources in 2024. This achievement, revealed in the company’s latest Sustainability Report, marks a key step in transforming how global trade is powered. The report details how DP World invested $1.17 billion in green and low-carbon infrastructure, […]
Dubai: PNC Investments LLC (PNCI), the parent company of global luxury real estate developer Sobha Realty, has received an upgrade in its Corporate Family Rating (CFR) from Moody’s Ratings, which raised the rating to Ba2/stable from Ba3/stable. Additionally, the senior unsecured rating of PNCI’s existing $500 million sukuk issued by Sobha Sukuk Limited has been […]
DUBAI: PayPal, the global digital commerce platform, has today opened a new regional hub in Dubai, which serves as the company’s first ever location in the Middle East and Africa. The Dubai Internet City site strengthens PayPal’s commitment to its customers and partners in the region and commitment to enabling millions more consumers and businesses […]
DUBAI: Artificial Intelligence is not just a buzzword—it’s now a business powerhouse. IBM says its AI technologies have generated over US$3.5 billion in returns over the past two years alone, spotlighting how AI business in Dubai and the region is accelerating real growth. Speaking during Dubai AI Week, Shukri Eid, General Manager of IBM Gulf, […]
ABU DHABI: The Ministry of Finance has announced changes to its rules on audited financial statements for corporate tax, easing compliance for businesses operating under a tax group. The updated Ministerial Decision — amending Decision No. 82 of 2023 — outlines clearer requirements for preparing and maintaining audited financial statements under the UAE’s Corporate Tax […]
DUBAI: The GCC construction industry is bracing for higher prices, with building costs across the UAE and Saudi Arabia now expected to rise even more sharply following fresh trade tariffs announced by former U.S. President Donald Trump. These concerns come as Stonehaven releases its 2025 UAE & KSA Construction Cost Benchmarking Report, which had already […]
NEW YORK: The world’s 500 richest people lost a jaw-dropping $208 billion in a single day after Donald Trump’s surprise tariffs sent global markets spiralling into chaos. But while billionaires worldwide took a beating, the Middle East quietly made gains, becoming the only region where some ultra-rich actually ended the day richer. More than half […]
BRUSSELS: European automakers are urging a quick resolution to the escalating EU-US trade dispute, warning that prolonged tensions could threaten jobs and investments across the sector. The European Automobile Manufacturers’ Association (ACEA) has voiced concerns over the growing uncertainty, stressing the vital role European car companies play in the US economy. “We are deeply concerned […]
NEW DELHI: Abu Dhabi-based International Holding Company (IHC) is set to acquire a stake in India’s leading snack brand, Haldiram, as part of its latest equity financing round. The move marks another major international investment in the $10 billion Indian snacks giant. Joining IHC in this round is New York-based Alpha Wave Global, further expanding […]
ABU DHABI: The Central Bank of the UAE (CBUAE) has unveiled a new symbol for the UAE Dirham, marking a significant milestone in the nation’s financial evolution. This move aligns with the UAE’s recent entry into the FX Global Code, reinforcing its status as a global financial hub. The CBUAE also announced the ongoing development […]
ABU DHABI: The UAE’s biggest industrial event, ‘Make It in the Emirates’ 2025, has officially opened visitor and media registrations for its fourth edition, set to take place from May 19 to 22 at ADNEC Centre Abu Dhabi. Led by the Ministry of Industry and Advanced Technology, in partnership with the Abu Dhabi Investment Office, […]
