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CBUAE
CBUAE imposes $54.5m sanction on exchange house
Central Bank of the UAE fines exchange house and its branch manager
Abu Dhabi
Abu Dhabi set to create additional ‘Nabdh’ community hubs under new DCD–DMT agreement
A new partnership aims to expand inclusive community spaces across Abu Dhabi as part of the Year of Community initiative
Corporate tax
UAE announces tax exemption
UAE will exempt certain foreign entities from corporate tax payments
Abu Dhabi Grand Prix
Abu Dhabi Grand Prix 2025: Post Malone to perform at Etihad Park for 17th edition
Malone joins Katy Perry, Metallica and Benson Boone for 2025 after-race concerts as demand soars for Abu Dhabi F1 weekend tickets
Luxe Developers
Ras Al Khaimah premium residences with co-working spaces see rising demand: Report
Ras Al Khaimah has positioned itself as an investment hub, offering high-end developments in a more exclusive environment
assets under management
Saudi assets under management reach $267bn
Saudi capital market sees 20.9 per cent growth rate in 2024
AD Ports Group, Burjeel Holdings launch new healthcare logistics venture DOCKTOUR
DOCKTOUR is a supply chain platform that integrates logistics, modular infrastructure, training, and emergency response
air taxi services
UAE air taxi trials to begin this year
Archer Aviation said it will trial air taxi flights in the UAE
Dubai
Pantheon Development unveils VOXA project in Jumeirah Village Triangle
VOXA will include studios, one- and two-bedroom apartments, penthouses, office spaces, and ground-floor retail units
Emiratisation
UAE tells firms to hire Emiratis by June 30 or face fines
UAE sets Emiratisation deadline as it looks to boost private sector employment
Abu Dhabi
Abu Dhabi to host regional premiere of Brad Pitt-led F1® The Movie this June
Abu Dhabi will roll out the red carpet for the Middle East premiere of Apple original films high-soctane summer feature, shot partly at the Yas Marina Circuit
Dubai visa
World’s largest visa application opens in Dubai with 10,000-per-day capacity
Dubai Visa Application Centre can handle 10,000 permits per day
Disney
Formula 1, Disney announces of launch Mickey & Friends collaboration
Motorsport meets magic as Formula 1 partners with The Walt Disney Company to introduce Mickey Mouse and friends to the global racing stage, starting in 2026
Abu Dhabi
Almosafer, Miral sign deal to drive GCC tourism to Abu Dhabi’s Yas Island
The partnership leverages Almosafer’s digital platforms to market Abu Dhabi’s Yas Island to tourists from Saudi Arabia and Kuwait
Ras Al Khaimah
Ras Al Khaimah, Miami sign pact to boost economic and innovation ties
The agreement aims to boost economic links, smart city projects, and cultural exchange between Ras Al Khaimah and Miami
Dubai Science Park
Global health leader NSF opens MENA HQ in Dubai Science Park
The new HQ will serve as a hub for NSF’s operations in the MENA region, supporting its mission to improve human and planetary health
AD Ports Group
AD Ports Group’s Noatum Logistics opens first robot-assisted cold chain warehouse in Lisbon
The new Noatum Logistics facility will leverage strong customer demand and Lisbon’s multimodal connectivity
SABIC
Saudi chemical giant SABIC exploring IPO for its gas subsidiary
Bloomberg reports discussions held with Lazard, HSBC Holdings, JPMorgan Chase and Morgan Stanley on listing National Industrial Gases Company
Artificial intelligence
Cisco announces major deal with Saudi Arabia’s HUMAIN to develop AI infrastructure
The multi-year initiative aims to position Saudi Arabia as a centre for digital innovation, building on Cisco’s 25-year presence in the Kingdom
PIF
Saudi wealth fund PIF opens Paris office to boost European investments
French President joins PIF Governor Al-Rumayyan to inaugurate Paris office during ‘Choose France’ summit
Abu Dhabi National Energy Company (TAQA)
TAQA Morocco and partners eye AED52bn in Moroccan energy and desalination projects
TAQA Morocco signs MoUs for major low-carbon energy, desalination, and infrastructure developments supporting Morocco’s energy transition and water security
Islamic New Year
UAE holidays 2025: Will residents get a long weekend ahead of Islamic New Year?
Islamic New Year 1447 could potentially fall on a Friday late June, giving UAE residents a three-day break but exact dates hinge on the moon sighting
Abu Dhabi
Betterhomes, DHB Holding launch Opula residential development in Abu Dhabi’s Yas Bay
The Opula development will feature a range of units including one to four-bedroom simplexes, duplexes, penthouses, and townhouses
Abu Dhabi
UAE real estate: Abu Dhabi secondary property market surges by 53% in Q1 2025
The secondary market now represents 11.4 per cent of the total real estate market in Abu Dhabi
Make it in the Emirates
Abu Dhabi-based NMDC LTS and Jiangsu Huaying Valves look at establishing facility in UAE
MoU for a potential JV announced at Make it in the Emirates; Facility will assemble, fabricate and distribute valves for energy sector
Brookfield Asset Management
Brookfield, Lunate form $1bn Middle East residential property joint venture
The venture will target build-to-sell and buy-to-sell residential assets in the UAE, Saudi Arabia, and other regional markets
Dubai real estate
Select Group completes $1.9bn Peninsula development sales in Business Bay
Peninsula spans 3.3 million sq. ft. of waterfront real estate, combining residential, commercial, business and lifestyle amenities in a waterfront destination
diamond
Over 1bn carats of diamonds traded through Dubai in past 5 years
Dubai saw almost 179m carats of diamonds traded in 2024
Emirates Development Bank
Emirates Development Bank launches $272m fund to boost UAE SMEs
Emirates Growth Fund will invest up to $13.6m per UAE SME
Dubai World Islands
Dubai World Islands: e& to power high-speed internet, drone services and AI to Heart of Europe hotels
E& and Kleindienst Group team up to provide digital hospitality on Dubai World Islands
Global Village
Global Village Dubai ends with record 10.5m visitors
Global Village Season 29 ends with record visitor numbers
Make it in the Emirates
Make it in the Emirates 2025: UAE industrial exports pass $53bn as sector creates jobs and boosts economy
Industrial growth in the UAE is creating massive job opportunities and making major impact on national economy Make it in the Emirates attendees hear
Abu Dhabi
Abu Dhabi announces car manufacturing plans as it eyes $27bn automotive plan and 7,000 skilled jobs
Abu Dhabi Investment Office launches automotive industry plan as it targets major investment and manufacturing drive for motoring sector
Dubai Executive Council
Dubai launches $1.2bn PropTech Hub to power future real estate
The Dubai PropTech Hub will double the value of the sector
Al Ain
Dubai to slash journey times on major road with new bridge
RTA to build new bridge in Nad Al Sheba to cut Dubai journey times for thousands of motorists a day
Khorfakkan
UAE beach closed to swimmers after oil found in sea
Khorfakkan Municipality in UAE said Al Zubarah Beach would be temporarily closed to swimmers after oil detected
Pure Health
PureHealth invests $613m in local goods and services, eyes $3.5bn UAE spend
PureHealth investing in UAE goods and services as it expands healthcare sector businesses
Connectivity
UAE’s Orbitworks unveils AI-powered Altair satellite fleet to boost sovereign space capabilities
Orbitworks revealed plans to manufacture its Altair satellite fleet in the UAE
Dubai Higher Education Statistics
Dubai now has more than 42,000 students enrolled at 41 private higher education institutions
Dubai saw a 20 per cent increase in higher education student enrolment for the 2024–25 academic year
First Abu Dhabi Bank
FAB becomes first MENA bank to launch Oracle-Mastercard embedded finance solution
The collaboration combines the strengths of the two industry leaders to revolutionise B2B finance and payments processes
Bangladesh
India cuts key imports from Bangladesh: Report
The move comes amidst the growing rift in relations between the two neighboring South Asian countries
Abu Dhabi industrial sector
Abu Dhabi Industrial Strategy sees sector GDP pass $30bn
Abu Dhabi is seeing a massive increase in industrial business as economy diversifies
Moody's
US stock futures and dollar slide after Moody’s downgrade
The ratings agency dropped the US government from Aaa to Aa1, citing budget deficit concerns; Asian stocks fall, but DFMGI rise
Aviation
Qatar Airways announces record $2.15bn profit
Qatar Airways Group reports $500m increase in profit for the 24-25 fiscal year
Emirates NBD
Emirates NBD launches new credit card with Majid Al Futtaim offering 8% rewards
New credit card links to more than 5,000 stores, providing rewards on purchases both within and outside Majid Al Futtaim’s retail network
Dubai
Global investment companies line up for a piece of Dubai real estate pie
Bloomberg reports that Brookfield and Mapletree planning investments after recent deals by Goldman Sachs, Apollo and Hillhouse
Future Investment Initiative
Saudi Arabia’s PIF plans to double European investments to $170bn by 2030
Saudi sovereign wealth fund governor warns EU ‘outrageous’ sustainability rules could drive away investment
ADNEC
UAE’s ‘Make it in the Emirates’ forum kicks off with 720 global exhibitors in Abu Dhabi
Four-day industrial event features 720 exhibitors showcasing 3,800 products across 12 vital sectors
Moscow
Saudi visitors to Moscow surge 470% as Russia boosts tourism ties
Saudi Arabia ranks second for Russian e-visas, with over 80,000 issued since August 2023
Connectivity
UAE’s Space42 opens Middle East’s first high altitude platform stations factory
The HAPS facility is part of Space42’s broader investments in vertically integrated manufacturing and data infrastructure
AI Everything
What to expect from UAE delegation at GITEX EUROPE this week
Dubai brings 12 government and private entities to the inaugural European edition of the global tech exhibition, taking place May 21-23 at Messe Berlin
Artificial intelligence
UAE sees sharp rise in AI-assisted shopping with 70% adoption rate: Report
UAE retailers are responding to this trend, with 41% planning to invest in AI to support sales and marketing efforts over the next 12 months