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Category: Business
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...
Abdullah Bin Touq Al Marri, the Minister of Economy, has reiterated the United Arab Emirates’ strong commitment to implementing the provisions of the Agreement on Facilitating and Developing Trade Exchange among Arab Countries. He emphasized the necessity of updating this agreement to reflect current economic developments and challenges. During his speech at the 115th session...
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...
A Memorandum of Understanding (MoU) has been signed between Fiji and the United Arab Emirates (UAE), marking the establishment of the first UAE-Fiji Joint Business Council. This council aims to identify and facilitate trade and investment opportunities between the two nations. Manoa Kamikamica, Deputy Prime Minister and Minister for Trade, described the signing of this...
Abu Dhabi is enhancing its defense and aerospace capabilities with significant upgrades at XRANGE, an international facility focused on training, testing, and evaluation (TT&E) in multiple domains. Operated by REMAYA, XRANGE aims to strengthen its services for clients in the defense, aerospace, and commercial sectors. One of the key developments includes the construction of a...
The Abu Dhabi Department of Economic Development (ADDED) has announced new measures designed to facilitate business expansion in the emirate. These changes allow companies registered in other UAE emirates and their free zones to establish branches in Abu Dhabi without needing to secure physical premises for the first year. This initiative applies to 1,200 economic...
Indian Oil Corporation (IOC), India’s largest oil company, has signed a significant long-term agreement with ADNOC Gas to import Liquefied Natural Gas (LNG). The deal, valued between USD 7 billion and USD 9 billion, spans 14 years and involves the supply of 1.2 million tonnes of LNG annually starting in 2026. The agreement was formalized...
In a significant move to strengthen Dubai’s position as a global hub for bullion and gold refining, industry leaders have officially launched the Dubai Business Group for Bullion and Gold Refinery. This new organization aims to provide a unified platform for stakeholders in the bullion and precious metals sector, promoting industry collaboration, innovation, and sustainable...
Jebel Ali Free Zone (JAFZA) has entered into an agreement with the German technology group Allied Heat Exchange AG (A-HEAT) to establish the largest heat exchanger production facility in the Gulf Cooperation Council (GCC). This significant development aims to address the increasing demand for energy-efficient cooling solutions, particularly for data centers that require advanced thermal...
UAE technology services firm Alpha Data announced its intention to list on the Abu Dhabi Securities Exchange (ADX), offering 400 million shares, which represents 40% of its capital. This listing will consist entirely of existing shares owned by investors Bin Hamoodah and Ibbini Investment, as stated by the company. In its financial report for the...