PayPal has announced a strategic partnership with Ignyte, aiming to enhance the startup ecosystem in the UAE by providing seamless payment solutions and facilitating cross-border growth. As a founding partner of Ignyte, PayPal will support entrepreneurs and small businesses in managing their payments effortlessly, thereby aiding their operations in the expanding digital economy. This collaboration...
UAE and Saudi Arabian companies are increasingly using long-term salary bonuses as a strategy to attract top executive talent. A report by Cooper Fitch reveals that over 50% of chief executives in Saudi Arabia receive more than six months’ worth of their basic salary in bonuses. This trend indicates a significant shift in how companies...
ICM.com has successfully obtained its second licence in the United Arab Emirates (UAE), marking a significant step in the brokerage’s efforts to strengthen its foothold in the Middle East. The announcement was made today, revealing that ICM MENA, a subsidiary of ICM.com, received the Securities and Commodities Authority (SCA) licence from Dubai’s regulatory authorities. This...
Earlier this year, President Sheikh Mohamed announced that 2025 will be designated as the Year of Community in the UAE. As part of this initiative, he introduced the “Hand in Hand” program, which is dedicated to building sustainable communities across the nation. The “Hand in Hand” initiative aims to foster collaboration among citizens, businesses, and...
UAE entities, especially sovereign wealth funds (SWFs), have a significant opportunity to address Brazil’s pressing infrastructure needs while fostering mutual economic growth, according to Luis Fernando Eleutério Lopes, partner and chief economist at Patria Investments. The diplomatic relationship between Brazil and the UAE, which began fifty years ago, has evolved into a robust partnership, characterized...
The Cybersecurity Council of the Government of the United Arab Emirates has announced that national cyber systems successfully dealt with cyber attacks targeting 634 governmental and private entities. These attacks aimed to leak data from vital and strategic sectors across the country, applying the best global practices in this critical field. Dr. Mohamed Al Kuwaiti,...
Small and medium enterprises (SMEs) are crucial to the UAE’s economy, contributing approximately 63.5 percent of the nation’s non-oil economy. The number of SMEs is projected to exceed one million by 2030, up from 557,000 in 2022. However, access to funding has been a significant challenge for these businesses. In response to this issue, a...
On World Meteorological Day 2025, Saudi Arabia and the UAE reaffirmed their dedication to enhancing early warning systems globally. Both nations aim to ensure that all countries have access to these systems by 2027, aligning with the World Meteorological Organization’s objectives. Dr. Abdulla Al Mandous, the director-general of the National Center of Meteorology and president...
The United Arab Emirates (UAE) has ambitious plans to have half of the cars on its roads be electric by 2050. However, estimates from researchers at PwC suggest that by 2030, only 15% of vehicles in the country are expected to be electric. Heiko Seitz, the Global and Middle East eMobility leader at PwC Middle...
Moody’s Ratings has affirmed the United Arab Emirates’ Aa2 long-term local and foreign currency issuer ratings, indicating that the country’s economic outlook remains stable. The agency also confirmed the foreign currency senior unsecured debt and medium-term note program ratings at Aa2 and (P)Aa2, respectively. According to Moody’s, this affirmation reflects the expectation that the debt...