In a significant move to enhance its logistics capabilities, DP World has announced the acquisition of 700 new trucks. This strategic investment is set to increase the road freight operations throughout the Gulf region, enabling the company to effectively respond to the growing demand for transportation services in the area. According to DP World, the...
Badr Jafar, the Special Envoy of the Minister of Foreign Affairs for Business & Philanthropy, recently completed a significant visit to Germany aimed at enhancing private sector collaboration between the UAE and Germany. During his trip, which included meetings in Düsseldorf and Munich, Jafar engaged with senior business executives and institutional leaders to explore potential...
Foreign investment projects in Arab nations are projected to see capital expenditures (Capex) totaling $112 billion in 2025, a decline of 9% compared to previous years, impacted largely by geopolitical challenges. This data, released by the Arab Investment & Trade Credit Guarantee Corporation (Dhaman), highlights a stagnation in the region’s investment climate ranking, remaining at...
The United Arab Emirates (UAE) and Germany are actively seeking new opportunities to enhance collaboration between their private sectors, focusing on vital industries that drive economic growth. The UAE stands out as Germany’s primary economic ally within the Gulf region, with the value of bilateral trade projected to surpass €13.56 billion by 2025. This commitment...
In a notable development for the financial landscape of the United Arab Emirates, Nasdaq Dubai has reported the addition of $13.8 billion in fixed-income listings throughout 2026. This significant increase brings the total outstanding sukuk—Islamic financial certificates similar to bonds—up to an impressive $98.6 billion. Such growth not only underscores the growing appeal of Islamic...
As the second quarter of 2023 approaches its conclusion, companies across the Gulf region are preparing to release their financial results, which are expected to reveal a mixed picture of the economic impact stemming from the ongoing conflict in Iran. Particularly, many observers are indicating that banking institutions are likely to experience the most significant...
Mark Carney’s recent visit to Saudi Arabia underscores Canada’s strategic initiative to diversify its trade connections beyond its traditional reliance on the United States. As the global economy evolves, Canadian officials are increasingly recognizing the importance of nurturing relationships with emerging markets in the Middle East, particularly with Saudi Arabia, which stands as one of...
IBS Group has officially announced the launch of Naviq Technology, a new company focused on harnessing the power of artificial intelligence to radically transform the travel sector, including aviation, cruises, hospitality, logistics, and online travel services. This initiative, unveiled in Dubai on July 9, 2026, marks a significant step in the ongoing digital innovation journey...
In the fiscal year 2025-26, the total amount of workers’ remittances sent from the UAE increased by 8.6%, reaching an impressive $41.6 billion. This growth highlights the continued reliance and contribution of expatriate workers to their home countries, especially in a region where foreign labor is a significant part of the workforce. However, the monthly...
Dubai Taxi Company (DTC), a key player in the emirate’s transport sector, has announced its acquisition of National Taxi for AED1.45 billion (approximately $395 million). This strategic move is intended to consolidate DTC’s position in the competitive taxi industry of Dubai and enhance its operational capabilities. The entire acquisition is financed through newly arranged bank...