Shanghai-based electric vehicle (EV) manufacturer Nio is preparing to open its first battery swap station in the Middle East later this month. An internal source revealed that the station has already been powered up and is currently undergoing testing, with a launch anticipated by the end of February. As reported by Electric-Vehicles.com, the approval process...
UAE is increasingly turning to vertical farming as a strategy to lower crop prices. As businesses venture into agricultural projects, they are finding it easier to get their products on supermarket shelves, improving their chances of profitability. The rise of both advanced vertical farms and traditional farming methods across the region is making a significant...
In 2024, the value of real estate transactions in Sharjah surged by nearly 48 percent, driven largely by increased foreign investment. This growth comes three years after the emirate updated its real estate laws to attract a broader range of investors. According to a report by Savills real estate agency, the number of nationalities investing...
The Abu Dhabi Fund for Development (ADFD) has officially reached a total funding amount of approximately AED229 billion, as announced during the World Governments Summit 2025, which was held in Dubai. The summit, themed “Shaping Future Governments,” gathered government leaders, ministers, senior officials, and global experts from various sectors to exchange knowledge and strategies for...
Emirates Water and Electricity Company (EWEC) has issued a request for proposal (RfP) for the establishment of the 140 MW Al Sila wind power project in Abu Dhabi, United Arab Emirates. This RfP was sent to 16 companies and consortiums that qualified during the expression of interest round conducted in October 2024. Responses to the...
FastBull Finance Summit has announced its inaugural event in Dubai, scheduled for April 16-17, 2025. The summit will take place at the renowned Coca-Cola Arena and aims to bring together industry leaders, investors, and financial experts for two days filled with important discussions, innovative trends, and valuable networking opportunities. The event will run from 10:00...
The Virtual Assets Regulatory Authority (VARA) of Dubai has issued a warning to consumers and investors about the potential risks linked to advertisements promoting subscriptions to memecoins. Memecoins are categorized as highly speculative and volatile assets, often susceptible to market manipulation. According to VARA, many memecoins lack intrinsic value and their pricing is primarily influenced...
Cheyne Capital’s hedge fund for Europe, the Middle East, and Africa is significantly increasing its investment in the United Arab Emirates, viewing it as the most resilient equity market amid uncertainties linked to US President Donald Trump’s policies. Fund manager Carl Tohme highlighted that the UAE’s currency peg to the dollar plays a crucial role...
Adnoc Drilling Co., a subsidiary of the United Arab Emirates’ largest oil producer, plans to secure approximately $1 billion in financing this year. This funding will help the company refinance expiring debts and support investments and dividends, as Chief Financial Officer Youssef Salem detailed in an interview with Bloomberg Television. The company has around $750...
The Tony Elumelu Foundation (TEF) has finalized a strategic partnership agreement worth USD $6 million with the UAE Office of Development Affairs and the Khalifa Bin Zayed Al Nahyan Foundation. This collaboration aims to provide business training, mentorship, and access to networks, as well as non-refundable seed capital of $5,000 to an additional 1,000 young...