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Category: Economy
Dubai’s Roads and Transport Authority (RTA) announced that public transport and shared mobility services in the city facilitated 747.1 million riders in 2024. This figure represents a 6.4 percent increase from the 702 million riders recorded in 2023. The transit services encompassed various modes, including Dubai Metro, Dubai Tram, public buses, marine transport options like...
The UAE is making strides in solar energy, cementing its role as a leader in renewable energy on the global stage. With substantial investments in solar power projects, the country continues to advance its sustainability agenda and target of achieving climate neutrality by 2050, as highlighted by the Emirates News Agency (WAM). The UAE currently...
The Federal Tax Authority (FTA) has called on natural persons conducting business in the UAE to register for Corporate Tax by March 31, 2025, to avoid penalties. The authority highlighted that failing to meet this deadline would result in an administrative fine of AED10,000. According to the FTA, a natural person, defined as any living...
Dubai Trade is advancing its operations by evolving its Digital Delivery Order (DDO) platform into Trade+. This upgrade is part of a broader strategy to improve the efficiency and speed of trade operations within Dubai’s supply chain and logistics sectors. The new Trade+ platform aims to facilitate the digital exchange of cargo release documents among...
The UAE has announced a rise in fuel prices for February 2025, as confirmed by the Ministry of Energy on January 31. The Fuel Prices Monitoring Committee has decided to increase the rates compared to January 2025. These monthly adjustments are based on the average global price of oil, which fluctuates, and include the operating...
Abdulla bin Mohammed bin Butti Al Hamed, Chairman of the National Media Office and the UAE Media Council, met with Neil Stephen, General Manager of Rockstar Games, during the latter’s visit to the UAE. The meeting aimed to explore ways to strengthen ties in the gaming sector and expand opportunities for collaboration. The discussions, attended...
Nasdaq Dubai has officially listed the Middle East’s first corporate Blue Bond, valued at $100 million, issued by DP World. This groundbreaking listing marks a significant step in the region’s sustainable finance progress. The bond, part of DP World’s $10 billion Global Medium-Term Note Programme, carries a coupon rate of 5.25 percent and will mature...
The UAE Central Bank has decided to maintain its current interest rate for the overnight deposit facility at 4.4 per cent. This move aligns with the US Federal Reserve’s recent decision to keep its rates steady, following three consecutive rate cuts. The decision reflects the UAE’s monetary policy approach, which closely follows the US model...
His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance, led a meeting to review the Ministry of Finance’s achievements in 2024 and outline plans for 2025. The meeting emphasized the Ministry’s pivotal role in driving financial sustainability and supporting the UAE’s strategic...
India’s Minister of External Affairs, Dr Subrahmanyam Jaishankar, emphasized the importance of the Middle East for India’s strategic interests during his speech at the Raisina Middle East conference in Abu Dhabi. He described the region as being of “immense significance” to India, pointing to centuries of shared commerce, culture, and beliefs. Dr Jaishankar noted that...