GDP rose from 314.81 billion dirhams to 1.54 trillion dirhams in the last 10 years A new report by "HotelandRest” stated that the United Arab Emirates, over the past ten years under the leadership of His Highness Sheikh Khalifa bin Zayed...
Real Madrid Café will be officially launched in Dubai on December 29th, 2014 as the first and only restaurant in the world named after and in collaboration with the popular football club. The momentous event will be made all the...
UAE's Emirates Authority for Standardization & Metrology approves new mandatory standards for toys Primary goal to ensure safety of kids using these products UAE toys market estimated at AED 1.8 billion (USD 490 million) with average spending of a child by...
Vice President and Prime Minister of the UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, has launched the Dubai Plan 2021. Launching Dubai Plan 2021 is the beginning of a new phase of sustainable and...
MEED’s Destination Dubai 2020 outlines critical factors shaping the emirate’s economy in the next six years • Major developments to keep Dubai’s growth rate growing by at least five per cent in the coming years • Tourism sector’s contribution to Dubai’s...
The recent slump in international oil prices has rejuvenated many financial sectors in various parts of the world and aviation industry is one of them. The International Air Transport Association (IATA) announced on Wednesday an outlook for improved industry profitability...
The outgoing Year 2014 presented a major threat of cyber crimes including hacktivism and spread of western cyber issues to the financial institutions operating in the Middle East and North Africa (MENA) region and future challenges keep haunting the...
James Hogan, President and Chief Executive Officer Etihad Airways, has said that in over a decade, the Etihad Airways contributed more than 200,000 employment opportunities to the United States job market. The Etihad Airways CEO said in a statement issued...
Top 10 things to consider before buying a Villa in Dubai Dubai is a melting pot of cultures, offering a comfortable living experience of a high quality. Constantly soaring to new heights and offering a plethora of options in all...
MENA shoppers prefer VISA cards A visible surge has been recorded in the demand for Visa debit, credit, and prepaid cards off-late as shoppers across the Middle East and North Africa (MENA) region opted for electronic payment method on the...
2015 will prove to be an active year for SWFs (Sovereign Wealth Funds) in the Middle East, says KPMG Report - UAE is home to one of the largest SWFs in the world - Low interest rates, evolving investment strategies...
KEF Holdings, a UAE-based multinational holding company that specializes in innovative offsite construction technology, has announced the launch of its India operations with investments of more than AED900 million to be made over the next five years. KEF Holdings said...
Beehive to launch first peer-to-peer lending platform for SMEs in UAE Former Group CEO of Emirates NBDRick Pudner is part of the team set to transform lending in the UAE through the use of innovative peer-to-peer technology Dubai-based Beehive officially launched...
The UAE will become one of the most innovative countries in the world through a focus on seven sectors: renewable energy, transport, education, health, technology, water and space. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime...
Declines in commodity prices likely to continue through 2015, says WB report Prices of most commodities, particularly oil, are expected to remain weak for the remainder of this year and through much of 2015, says the World Bank’s recently released...
Global household wealth increases by 8.3% to USD 263 trillion, driven by wealth growth in the United States and Europe The world's rich is getting richer, with 0.7% of the rich now owning more than 48% of global wealth -...
Prominent banking group is now largest issuer on the exchange by total value of conventional bonds, at 2.25 billion dollars Bond underlines the exchange’s growth as centre of fixed income activity His Highness Sheikh Ahmed bin Saeed Al Maktoum,...
Fujairah, one of the seven Emirate of the UAE is to emerge as a leading Energy Hub. Fujairah, which has built the largest oil export terminal on the Indian Ocean and has plans for one of the largest LNG regasification...
Dubai-based real estate development company, Meraas Holding, today launched ‘La Mer’, a mixed-use development that will take shape in Dubai's exclusive beachfront district Jumeirah in the vicinity of Pearl Jumeirah Island. Construction of “La Mer” is set to commence...
Cardholders across Middle East and North Africa spent nearly US$4 billion on their Visa debit, prepaid and credit cards during the Holy month of Ramadan and Eid - says VISA in their latest report. Supermarkets, Financial institutions, Jewellery, Clothing Stores...
Retail construction will increase to meet demand and other GCC countries benefit from retail ripple effect, says new report The United Arab Emirates retail sector is expected to grow over 33 percent by 2015, according to a September 2014 report...
Massive Government ICT investments transforming Saudi Arabia’s innovation economy, enhancing development, business growth and productivity. Saudi IT Market Set to Top USD 14 Billion by 2017with Government Sector Fastest-Growing Industry Vertical: IDC More than 500 of Kingdom’s Organisations Set to Attend GITEX...
Poll highlights untapped opportunity for UAE banks to attract savers AED1.4 trillion (USD 381 billion) is the total bank deposits in UAE banks. Almost half of UAE residents surveyed by compareit4me.com, a UAE-based finance comparison website, said they choose to save their...
Saudi Aramco, GE and TCS inaugurate Saudi Arabia’s first all-female business process services center   Center will create 3,000 local jobs for Saudi women with the first batch of recruits commencing work 3,200 square meter center in Riyadh provides new business...
Hydrocarbon revenues in KSA and Kuwait make up to 90% plus of total Revenues Leading GCC economies remain susceptible to fluctuations in global energy prices Alkhabeer Capital, an asset management and investment firm based in Saudi Arabia, has published its latest...
Dubai-based development company Meraas Holding today unveiled the blueprint for Dubai Parks & Resorts project that is set to take shape in Jebel Ali. Phase 1 to Feature Three Theme Parks - Motiongate Dubai, Bollywood Parks Dubai, and LEGOLAND Dubai, Themed...
Massive growth potential for Sukuk market in Gulf region, states Dubai Chamber report The global Sukuk industry is expected to be one of the fastest growing segments of the Islamic finance industry with huge growth potential in the Gulf Cooperation...
Debt accumulating amongst expats in the UAE seems to be, yet again on the increase. Moving to a new location can be an expensive process and it can be all too easy to start spending beyond your means. All too...
Middle East Investors to Spend US$180 Billion in Global Real Estate Markets Over Next Decade: CBRE - Sovereign Wealth Funds Poised for Major Impact on Global Property Markets - Europe Clear Favorite with 80% of Expected Allocation - $85bn to Flow into...
Findings Confirm Positive Impact of Soccer World Cup on Dubai’s Food Retail Sector Soccer World Cup has kick started in Brazil and the next one month will keep billions of fan across the globe shuttle to and fro between high...
As Global Energy Consumption is Set to Rise 41 Percent by 2035, ADIPEC 2014’s Theme is “Challenges and Opportunities for the Next 30 Years” The 17th edition of the Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC 2014) will kick...
Cybercrime appears to be the second most common form of economic crime in the Middle East; Read on to find out how the cyber-security services and laws help you brace against cybercrimes. A study by Cisco’s Middle East ICT Security...
The Kingdom of Saudi Arabia (KSA) has registered a record overall growth of 43% in eCommerce in Q1 of 2014 compared to the same period last year, making it the highest growth rate in the MENA region, according to...
The ongoing excitement for Dubai Expo 2020 has had numerous positive effects on the economy of the UAE, especially on the hospitality industry. With the anticipated arrival of 25 million visitors during the six-month period of the convention, Dubai...
Freelancing, specifically online freelancing, is still a tiny part of the global staffing industry, which is estimated to be $422 billion. Last year the combined online staffing industry was $1.5 billion and this number is expected to grow to...
European football market grows again, to exceed $25bn for the first time, with the ‘big five’ leagues surpassing the $12bn mark. Middle East remains a key source and stimulator of revenue growth.   The European football market grew in 2012/13, to exceed...
ArabNET Digital Summit 2014 today opened with a keynote address by the CEO of twofour54, the commercial arm of the Media Zone Authority – Abu Dhabi. The speech spotlighted the creation of a thriving entrepreneurship ecosystem. “Despite good progress SMEs...
GCC economies must invest in exports to reduce dependence on commodities Falling oil prices will pose a challenge to GCC hydrocarbon exporters unless governments step up their diversification efforts and develop more export industries, according to a new report by...
Philippines economy to more than double over next decade, says IHS research. According to the World Bank, Philippines has been among the emerging markets in the region given its sound economic fundamentals and highly-skilled workforce. The economy of the Philippines is the...
New report by Cielo, a global strategic recruitment & talent management partner, quantifies the impact of talent management on business output. Encouraging employees to spend less time at work is one of the most important ways to get more out...