In a significant milestone, the Dubai Multi Commodities Centre (DMCC) has announced a 9% increase in its Indian business community over the past year, bringing the total number to over 4,080 companies. This rise is attributed to the addition of more than 330 new members, highlighting the growing interest and investment from Indian enterprises in...
In a significant shift in the investment landscape, Gulf Non-Resident Indians (NRIs) are increasingly favoring the Reserve Bank of India’s (RBI) FCNR(B) deposit scheme over traditional investment funds focused on India. The surge in interest towards the FCNR(B)—which offers guaranteed dollar returns—reflects a broader trend where the allure of capital security is taking precedence amidst...
The job market in the Gulf region has experienced a significant transformation in the wake of recent conflicts, presenting an unprecedented array of employment opportunities for Indian workers. This shift is largely a result of the need for reconstruction and the accelerated diversification of the economies in the region. With nations such as the UAE,...
The global electric vertical take-off and landing (eVTOL) sector is poised for significant transformation as it reaches a pivotal stage of commercial readiness, aided by recent technological advancements and important regulatory achievements. Among the notable breakthroughs is the innovative work by companies like Eve Air, which have successfully demonstrated capabilities that bring the eVTOLs closer...
Salik Company PJSC, the sole operator of Dubai’s toll gates, has reported a strong financial performance for the first half of 2026, achieving a net profit of AED 704 million despite a reduction in traffic volumes. The company’s total revenue for the first six months of the year reached AED 1.412 billion, indicating a robust...
As the landscape of banking in the Gulf Cooperation Council (GCC) evolves, financial institutions are embarking on a significant journey towards technological modernization. This transformation is notably driven by regulatory shifts towards open finance, which have opened doors for enhanced competition and innovation in financial services. Regulators in the GCC region are championing the expansion...
Abu Dhabi’s International Holding Company (IHC) has reported an impressive surge in profits for the second quarter of this year, achieving a remarkable 200% increase to reach $3.5 billion. This dramatic rise highlights the company’s robust financial performance and reflects the overall growth trajectory of the UAE’s economy. The significant rise in IHC’s revenues can...
Mobility fintech company Moove has successfully raised $250 million in a Series C funding round, achieving a valuation of $2.1 billion and officially entering the coveted unicorn club. The investment marks a significant milestone for Moove, which focuses on providing financial services tailored to mobility entrepreneurs and drivers. The funding round was spearheaded by Mubadala...
The United Arab Emirates’ sovereign wealth fund has made headlines with a groundbreaking $3 billion investment aimed at revolutionizing the aviation fuel market. The initiative focuses on utilizing a native Brazilian fruit to create a high-performance jet fuel, setting the stage for significant changes within the global aviation industry. This substantial financial commitment not only...
Nomura’s Laser Digital has recently made headlines with its significant investment in ZIGChain, marking a pivotal moment for on-chain private credit initiatives in the UAE. This investment, understood to be in the high single-digit millions, is expected to enhance ZIGChain’s offerings in the rapidly evolving fintech landscape. The growth of private credit markets has been...