Abu Dhabi’s Mubadala Investment Company has taken the lead as the world’s biggest spender among sovereign wealth funds in 2024. The fund deployed $29.2 billion last year, a sharp increase from $17.5 billion in 2023, according to a report by Global SWF, an industry tracker. This marks a significant shift, as Saudi Arabia’s Public Investment...
Author: UPPERNEWS TEAM (UPPERNEWS TEAM)
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02.01.202502.01.2025Business
Dubai Duty Free Hits Record Sales of Dh7.901 Billion in 2024
Dubai Duty Free has announced a record-breaking sales figure of Dh7.901 billion for the year 2024, marking a new milestone for the retail giant. A significant boost came in December, which alone achieved sales of Dh821.944 million, a two percent rise compared to the same month in 2023. December’s strong performance was bolstered by the...
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02.01.202502.01.2025Workforce
UAE’s New Mandatory Health Insurance Policy Takes Effect
Starting January 1, 2025, all private sector employees and domestic workers in the UAE must have basic health insurance coverage as part of a new government policy. This initiative, introduced by the Ministry of Human Resources and Emiratisation (MOHRE) and approved by the UAE Cabinet in December 2024, aims to improve healthcare access, promote early...
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01.01.202501.01.2025Business
Abu Dhabi’s DoH Wins Global Startup Ecosystem Stars Award
The Department of Health – Abu Dhabi (DoH) has earned the prestigious Startup Ecosystem Stars Award 2024. Presented by the International Chamber of Commerce (ICC) in collaboration with the OECD and the European Commission, the award highlights DoH’s success in building a dynamic healthcare innovation ecosystem. The award ceremony, held in Paris on December 4,...
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31.12.202431.12.2024Economy
UAE Celebrates Major Achievements, Looks Ahead to 2025
The UAE has made remarkable strides over the past year, according to His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. Reflecting on these accomplishments, Sheikh Mohammed expressed pride in the nation’s progress and shared his optimistic outlook for 2025. In a post on...
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31.12.202431.12.2024Finance
Sohar International Secures $336 Million in Rights Issue
Sohar International, a leading bank in Oman, has successfully raised 130 million Omani rials ($336.7 million) through its latest rights issue. This marks the largest rights issue on the Muscat Stock Exchange (MSX) in 2024. Launched in November, the offering attracted strong interest from government entities, private institutions, family offices, and individual investors. The bank...
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UAE Salaries in 2025: Modest Increases and Rising Competition
Salaries in the UAE are projected to see minimal growth in 2025, with increases expected to remain in the low single digits or stagnant, according to recruitment consultants. Experts attribute this trend to the continued influx of skilled expatriates and already high salary levels in the region. Trefor Murphy, CEO of recruitment firm Cooper Fitch,...
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31.12.202431.12.2024Real Estate
Dubai to Launch Smart Rental Index in 2025
Starting January 2025, Dubai Land Department (DLD) will roll out a Smart Rental Index aimed at transforming the emirate’s real estate sector. This initiative highlights Dubai’s focus on technology and innovation to foster trust, transparency, and confidence among landlords, tenants, and investors. The Smart Rental Index will rely on advanced technology and accurate, real-time data...
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31.12.202431.12.2024Business
UAE and Italy Strengthen Strategic Partnership in Key Talks
H.H. Sheikh Abdullah bin Zayed Al Nahyan, UAE’s Deputy Prime Minister and Minister of Foreign Affairs, recently spoke with Antonio Tajani, Italy’s Minister of Foreign Affairs, over the phone. The discussion focused on the strong friendship and strategic partnership between the UAE and Italy. Both ministers explored ways to deepen cooperation in various fields. They...
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31.12.202431.12.2024Business, Government support
UAE’s Big Steps Towards Clean Energy, Housing, and Infrastructure
The UAE has made remarkable progress in clean energy, housing, and infrastructure sectors, according to the Ministry of Energy and Infrastructure (MoEI). The country’s commitment to sustainable development and innovation is driving these advancements, as highlighted by Suhail Mohamed Al Mazrouei, Minister of Energy and Infrastructure, in an update shared by Gulf Today. In the...