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Category: Economy
Dubai Electricity and Water Authority (DEWA) has announced its record-breaking financial results for 2024, reporting an annual revenue of AED 30.98 billion and an EBITDA of AED 15.70 billion. Net profit after tax stood at AED 7.24 billion. The quarterly results for Q4 2024 also reflected strong performance, with revenues reaching AED 7.45 billion and...
The second Cities in Action Forum, held at Expo City Dubai, has concluded, setting the stage for the 2025 Asia Pacific Cities Summit (2025APCS) & Mayors’ Forum. The event, scheduled for October 2025, will be hosted in the Middle East for the first time. The forum brought together over 500 experts, investors, and policymakers to...
Dr. Thani bin Ahmed Al Zeyoudi, the Minister of State for Foreign Trade, announced that negotiations for the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Japan are set to be completed by the end of 2025. In his statement to the Emirates News Agency (WAM), Dr. Thani Al Zeyoudi emphasized that the terms...
Abu Dhabi’s judicial system has undergone a significant transformation, with court cases now being resolved in just 40 days instead of the years they previously took. This change has been made possible by the implementation of smart technology and strict procedural deadlines enforced by the Abu Dhabi Judicial Department (ADJD). Lawyers in the capital have...
Egypt may soon receive additional funding from the International Monetary Fund (IMF), according to spokesperson Julie Kozack. The IMF is currently reviewing a new financing program, which could help the country manage its rising economic challenges. Cairo is already benefiting from an $8 billion financing agreement with the IMF, which was expanded in 2022 to...
The UAE has unveiled a set of tax incentives for multinational companies (MNCs) operating within the country. These measures, effective from January 1, 2025, are designed to encourage investment activities and strengthen the UAE’s position as a global business hub. MNC entities in the UAE will be subject to a corporate tax rate of 15%,...
Workers in the UAE are now required to renew their Involuntary Loss of Employment (ILOE) insurance for a two-year period, as per an update highlighted by Gulf News. This change aims to prevent policy lapses and reduce the frequency of renewal reminders, offering greater convenience and continuous coverage for employees. The renewal process is straightforward....
Dubai Chambers has entered into a partnership with the U.S. Chamber of Commerce to enhance trade and economic cooperation between Dubai and the United States. The Memorandum of Understanding (MoU) was signed at Dubai Chambers’ headquarters by Salem Al Shamsi, Vice President of International Relations at Dubai Chambers, and Steve Lutes, Vice President for the...
The United Arab Emirates recently successfully returned from its first joint expedition with the Bulgarian Antarctic Research Institute, marking a significant milestone in scientific exploration. This inaugural mission to Antarctica underscores the UAE’s commitment to advancing global scientific research and strengthening international partnerships in meteorology and climate science. The expedition aimed to address pressing climate...
The global microgreens market was valued at $3.24 billion in 2024 and and is expected to grow USD 7.97 Billion in 2032 at a compound annual growth rate (CAGR) of 10.5% from 2024 to 2032. This growth is largely fueled by increasing consumer awareness of the nutritional benefits of microgreens, a rising demand for premium food products, and the growing...