The Dubai International Financial Centre (DIFC) has reported its strongest annual financial performance in 2024, with combined revenues reaching AED 1.78 billion. This impressive figure comes from nearly 7,000 registered companies operating within the center. In 2024, DIFC welcomed a record-breaking 1,823 new company registrations, marking a 25 percent increase from the previous year. His...
Elon Musk’s Boring Company has received official approval to construct the ‘Dubai Loop’, a 10.6-mile (17 km) tunnel network designed to transport up to 20,000 passengers each hour at speeds reaching 100 miles per hour (160 km/h). This ambitious project aims to ease traffic congestion in the city and promises to significantly reduce travel times...
Dubai has announced a new Golden Visa Scheme specifically for yacht owners, allowing them long-term residency in the emirate. This initiative follows a similar scheme launched recently in Abu Dhabi, aimed at attracting high-net-worth individuals to the region. The announcement was made by the General Director of Residence and Foreigners Affairs. Further details of the...
Industry analyst Richard Aboulafia has raised concerns regarding the timeline for the introduction of electric vertical-takeoff-and-landing vehicles (eVTOLs) in the United Arab Emirates (UAE). According to Aviation Week, in a commentary published in September 2024, he questioned, “When will an eVTOL, or anything AAM [advanced air mobility], actually enter service? Great question! The answer always...
Elon Musk’s AI company, xAI, has launched its latest AI model, Grok 3, setting a new benchmark in artificial intelligence. Announced late Monday, Grok 3 boasts upgraded capabilities, including advanced reasoning and image analysis, and powers several features on X, Musk’s social platform. The model has been in development for months, initially planned for release...
Ericsson and stc Group have unveiled a strategic collaboration called the “Fusion Partnership” at the LEAP 2025 event, aiming to accelerate innovation and broaden their market opportunities. This partnership highlights their shared commitment to enhancing solutions and services for both businesses and consumers, which is expected to significantly shape the future landscape of the telecom...
Abu Dhabi is intensifying efforts to boost investments with China, anticipating that bilateral trade will reach $200 billion by 2030. The Abu Dhabi Department of Economic Development (ADDED) is leading an economic delegation to China as part of this initiative, aiming to strengthen the emirate’s role as a global hub for talent, businesses, and investments....
Sharjah Police are implementing an innovative system that integrates live biometric facial recognition technology into their patrol cars. This advanced system is designed to streamline criminal investigations and enhance operational efficiency. The technology is embedded in smart cameras and bars on the vehicles, enabling real-time data analysis and identification while being connected to relevant authorities’...
InCred Group, a diversified financial services firm, has announced its acquisition of Arrow Capital (DIFC) Limited, a prominent boutique financial services provider based in Dubai. This acquisition, revealed on February 17, 2025, is a strategic move aimed at enhancing InCred’s global capabilities in wealth management, investment banking, and asset management. Arrow Capital, established in 2016...
ASB Capital, a newly established asset management firm, has officially commenced operations in the Dubai International Financial Centre (DIFC) with an impressive $4.5 billion in assets under management (AUM). Licensed by the Dubai Financial Services Authority (DFSA), the firm plans to provide a range of wealth and asset management solutions, which include offerings in public...