The Dubai Free Zones Council (DFZC) has highlighted the achievements of Dubai’s free zones in 2024, attributing their strong performance to efforts in economic diversification. These developments align with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai As ARN News mentioned in their piece,...
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28.12.202428.12.2024Business, Investments
Abu Dhabi’s Astra Tech Unit Secures $500 Million Funding from Citi
Abu Dhabi-based FinTech company Astra Tech, through its subsidiary Quantix Technology Projects, has secured $500 million in funding from Citi. This asset-backed securitisation financing is among the largest ever for a UAE FinTech firm. According to The National UAE, the announcement was made during the Abu Dhabi Finance Week, where the company shared its plans...
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28.12.202428.12.2024Technology
UAE Astronauts May Lead Missions on New Space Station Projects
UAE astronauts might play a key role in a new chapter of space exploration, with private companies eyeing them as potential first crew members for upcoming commercial space station missions. As the International Space Station (ISS) approaches retirement, opportunities are opening up for nations like the UAE, which has an emerging astronaut program but lacks...
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28.12.202428.12.2024Finance
Dubai Sets New Rules for Foreign Banks with Penalties for Violations
Dubai has introduced new regulations targeting foreign banks operating in the emirate. H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council, approved Executive Council Resolution No. (101) of 2024. This move aims to ensure that foreign banks comply with administrative guidelines while conducting business in...
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28.12.202428.12.2024Economy
UAE Trade Set to Close 2024 at AED 3 Trillion
The UAE is set to end 2024 with a record-breaking AED 3 trillion in non-oil foreign trade, according to recent figures. This milestone reflects the country’s effective trade strategies and ambitious economic policies aimed at achieving its “We the Emirates 2031” vision. According to Al Khaleej, in the first half of 2024 alone, the UAE...
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28.12.202428.12.2024Economy
Gulf Nations Adapt Strategy to Attract Multinationals Amid Tax Changes
Gulf countries are rethinking their approach to attracting multinational companies as they prepare to adopt a global minimum corporate tax of 15 percent by January 2025. Historically known for their tax-free environment, these nations are now offering targeted incentives to stay competitive and lure investments. The UAE, which introduced a 9% corporate tax last year,...
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28.12.202428.12.2024Technology
Mohamed Bin Zayed University for Humanities Partners with Digital School to Boost Digital Education
Abu Dhabi’s Mohamed Bin Zayed University for Humanities has teamed up with the Digital School to transform digital education and promote continuous learning using advanced technologies. According to WAM, the agreement, signed by Dr. Najla Al Naqbi, Vice Chancellor for Academic Affairs at the university, and Dr. Waleed Al Ali, Secretary General of the Digital...
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28.12.202428.12.2024Tourism
Thailand to Launch Global eVisa System in January 2025
Starting January 1, 2025, traveling to Thailand will become much easier for UAE residents and visitors worldwide. Thailand’s Ministry of Foreign Affairs is set to launch a global electronic visa (eVisa) system, allowing travelers to complete the entire visa application process online. The move is expected to save time and reduce the hassle of embassy...
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25.12.202429.12.2024Workforce
Mental Health Awards 2024: Recognizing Champions Across the GCC
The Mentl Awards 2024 honored individuals and organizations making significant contributions to mental health in the GCC during a ceremony held on November 22 at the Connect Conference Centre, Expo City Dubai. Among the recognized experts was Ghenwa Yehia, a regular contributor to Khaleej Times, who received high commendation for her efforts in mental health...
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24.12.202429.12.2024Finance
Citigroup Gets Green Light for Regional Headquarters in Riyadh
Citigroup has received approval from Saudi Arabia to establish its regional headquarters in Riyadh, a move that highlights the kingdom’s ongoing efforts to attract leading global financial institutions. The announcement was made after the Saudi Ministry of Investment granted the necessary approval. In a staff memo seen by The National, Fahad Aldeweesh, CEO of Citi...