In a significant effort to enhance the role of small and medium-sized enterprises (SMEs) in the global travel industry, the World Travel & Tourism Council (WTTC) has officially launched the Together in Travel SME initiative. VFS Global has joined this initiative as a Founding Partner. The WTTC serves as the only global entity representing the...
The TradeTech Forum, held at the ADNEC Center in Abu Dhabi, serves as a significant platform for advancing digital trade systems globally. The event is jointly hosted by the UAE Ministry of Economy, the Abu Dhabi Department of Economic Development (ADDED), and the World Economic Forum. This year, the forum unites global leaders, technology innovators,...
The UAE has achieved the remarkable feat of being ranked first globally in entrepreneurship for the fourth consecutive year, according to the latest Global Entrepreneurship Monitor (GEM) report. This year, the country topped the list as the best destination for entrepreneurship and small and medium-sized enterprises (SMEs) among 56 economies evaluated. In this report, the...
Dubai has launched a Salik fee exemption program that allows certain residents and their relatives to apply for a waiver of toll fees. This initiative, introduced by the Roads and Transport Authority (RTA), aims to enhance accessibility and improve the quality of life for residents facing challenges. Eligible individuals for the Salik fee exemption include...
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...
UAE-based fintech firm Hubpay has introduced Hubpay Payroll, a new payroll solution aimed at simplifying payments for businesses with international teams. This launch marks Hubpay’s entry into the growing $1.2 billion payroll market in the UAE, providing companies with a seamless and cost-effective method to manage their global payroll needs. As businesses in the UAE...
Ras Al Khaimah (RAK) is increasingly becoming a significant global investment hub, attracting businesses and luxury developers with its investor-friendly policies and stunning natural landscapes. The emirate has seen a remarkable transformation, moving from a quiet escape to a hotspot for global enterprises. In 2024, RAK recorded a 12% increase in tourism revenues, welcoming over...
Mastercard has announced a new partnership with CredibleX that will integrate Mastercard’s Small Business Credit Analytics (“SBCA”) into CredibleX’s financing platform. This collaboration marks the first application of this innovative product in the region, aimed at providing enhanced data-driven insights based on anonymous and aggregated transaction data. The initiative is designed to empower small and...
SC Ventures, the innovation and fintech investment arm of Standard Chartered, has announced a partnership with Visa to enhance support for small and medium-sized enterprises (SMEs) across the Middle East and North Africa (MENA) region. The agreement, formalized through a Memorandum of Understanding (MoU) at the Visa Innovation Center in Dubai, aims to develop solutions...
Emirati sisters Qadreya and Maitha Al Awadhi have successfully turned their passion for healthy baby food into a thriving business called Bumblebee. Based in Dubai, Bumblebee offers freshly made, frozen food specifically designed for babies and toddlers aged six months to six years. The brand’s carefully crafted menu is developed by a pediatric nutritionist and...