The Ministry of Human Resources and Emiratisation (MOHRE) announced that by the end of 2024, 83% of the targeted private sector workforce was covered by the Unemployment Insurance Scheme. This innovative scheme is designed to protect workers against job loss by providing them with monthly cash compensation based on their basic salary as noted in...
Employees in the United Arab Emirates (UAE) enjoy the highest monthly salaries in the Middle East and Arab World, ranking among the top 20 countries globally in 2024. The average gross monthly wage in the UAE is reported to be $3,663 (Dh13,400), placing it as the 18th highest worldwide. In the Gulf Cooperation Council (GCC)...
The United Arab Emirates (UAE) is set to engage in high-level discussions with the European Union to support a global initiative aimed at addressing money laundering and other financial crimes. This meeting signifies the UAE’s commitment to enhancing international cooperation in combating financial offenses. Hamid Al Zaabi, the secretary general and vice chairman of the...
Bank of Sharjah has successfully acted as the Mandated Lead Arranger and Bookrunner for a US$155 million Club Loan Facility for Daewoo Engineering & Construction Co Ltd. This announcement was made on February 16, 2025, highlighting the bank’s role in facilitating significant financial arrangements The loan is structured as a three-year facility and has been...
Abu Dhabi is gearing up to host the Middle East’s largest defense expo, Idex 2025, from February 17 to 21. The event is expected to draw more than 150,000 visitors, including domestic and international defense companies showcasing their latest technologies and innovations. As the expo approaches, anticipation is building among military firms and attendees alike....
The Roads and Transport Authority (RTA) in Dubai has successfully completed the construction of 40 air-conditioned rest areas for delivery bike riders. These facilities are located in several key areas across the emirate to provide comfort for the riders during their breaks. The initiative aims to support the growing number of delivery personnel, ensuring they...
Wynn Resorts CEO Craig Billing is optimistic about the UAE’s gaming market, projecting it could grow to between $3 billion and $5 billion (Dh11 billion to Dh18.35 billion) in the coming years. During a conference call discussing the company’s fourth-quarter financial results, Billing described the UAE as the “most exciting” new market for the gaming...
The Dubai Supreme Council of Energy convened on Sunday under the leadership of Ahmed bin Saeed to review advancements in technologies aimed at reducing carbon emissions. This meeting was part of the UAE’s broader commitment to its Net Zero 2050 Strategy and the Dubai Carbon Abatement Strategy 2030. During the session, the Council addressed the...
The e-commerce market in the United Arab Emirates (UAE) is projected to experience significant growth, with estimates indicating it will surpass AED 48.8 billion by 2028. This growth is attributed to the increasing demand for online shopping and rapid advancements in the digital economy. In 2022, the Dubai Chamber of Commerce had predicted that the...
Hamdi Osman, a long-time Dubai resident and former Senior Vice President of FedEx, has transitioned from a successful career at the express transportation giant to founding SolitAir, the UAE’s first cargo-only airline. After 34 years at FedEx, where he managed 51,000 employees and oversaw operations across 132 countries, Osman launched SolitAir two years ago to...