Egypt is set to introduce four new free trade zones in 2026 as part of its strategy to enhance exports and stimulate investments. This announcement was made by an official who highlighted the government’s commitment to expanding economic opportunities. Currently, Egypt boasts nearly 230 private free zones that benefit from significant customs and tax incentives....
The DMCC has awarded the main works contract for the next phase of Uptown Dubai. This development includes the construction of two state-of-the-art commercial towers that will enhance the area’s skyline. The contract was awarded to Ali & Sons Contracting Company, a key player in the construction sector. Uptown Dubai is designed to be a...
The Dubai Financial Services Authority (DFSA), which serves as the independent regulator for the Dubai International Financial Centre (DIFC), has officially published its Annual Report for 2024. This report outlines the DFSA’s achievements and the overall performance of the financial sector within the DIFC during the past year. In the report, the DFSA highlighted significant...
Dubai’s Jebel Ali Free Zone (Jafza), managed by DP World, has celebrated its 40th anniversary with significant achievements, reporting record-breaking trade volumes of $190 billion over the past year. This figure represents a 15 percent increase from the previous year and marks the highest contribution Jafza has made to Dubai’s economy, as announced by DP...
Sky Links Capital, a leading international multi-asset broker, has announced the establishment of its new holding company, Sky Links Holding Ltd, recently incorporated in the DIFC. This move emphasizes the company’s commitment to strong governance, global expansion, and long-term growth in the Middle East region. The DIFC has gained recognition as a prominent financial center,...
The Dubai Multi Commodities Centre (DMCC) has introduced new licenses for Special Purpose Vehicles (SPVs) and Holding Companies. This initiative aims to enhance business structuring options for companies operating in Dubai and globally. The new licenses are designed to attract a wider range of businesses and facilitate their operations. DMCC officials stated that these new...
The Sharjah Research, Technology and Innovation Park (SRTIP) has entered into three significant memorandums of understanding (MoUs) with key stakeholders in the healthcare sector, including Emirates Health Services (EHS), Sharjah Health Authority (SHA), and BEEAH Group. This initiative aims to strengthen Sharjah’s position as a hub for healthcare research and innovation. The signing ceremony was...
Dubai CommerCity has announced a strategic partnership with qeen.ai and Portmind to enhance the adoption of artificial intelligence (AI) within its free zone. This collaboration was revealed during Dubai AI Week, emphasizing the commitment to integrate advanced technologies in the region. The initiative aims to foster innovation and support businesses in leveraging AI to improve...
Ayu Life Sciences, a company specializing in medical devices and cell therapy, has announced plans to invest AED 33 million in a new medical manufacturing facility located at the Jebel Ali Free Zone Authority (JAFZA). This investment marks a significant step in enhancing the company’s production capabilities and expanding its footprint in the healthcare sector....
Billionaire Michael Platt’s private investment firm, BlueCrest Capital Management, has obtained full regulatory authorization from the Dubai Financial Services Authority (DFSA). This approval allows the firm to hire traders and manage capital from Dubai, a city that has increasingly become a hub for money managers in recent years. According to sources familiar with the situation,...