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Uber-owned ride-hailing firm Careem announced a spinout on Monday with significant support from both its parent business and a new source. With a $400 million investment, the tech holding company e&, formerly Etisalat, based in Abu Dhabi, United Arab Emirates, has entered into a legally binding deal with Uber Technologies to purchase a 50.03% majority […]
The operating earnings of the Dubai Integrated Economic Zones Authority (DIEZ) increased by 42% in 2022. In comparison to 2021, its overall sales increased by 29% last year. By providing a cutting-edge multimedia ecology, a global network, and comprehensive solutions, the DIEZ seeks to reinforce Dubai’s status as a top global hub. The increased financial […]
The private sector will receive investments totaling SR192.4 billion ($51 billion) through Saudi Arabia’s Shareek programme. The investments, which were unveiled in the presence of Crown Prince, Prime Minister, and Chairman of the Big Businesses Investment Committee Mohammed bin Salman bin Abdulaziz, are the first stage of Shareek’s anticipated SR5tn ($1.3tn) initiative. The Shareek programme […]
Edge, an AE defense and technology business, wrapped up fruitful participation at IDEX 2023 by signing new contracts totalling $5 billion (AED18.6 billion). During IDEX 2023, Edge unveiled 14 new products, 11 of which were ground-breaking autonomous and unmanned technologies and solutions. AED4 billion of the AED18.6 billion in contracts were for overseas exports, and […]
The 4th Annual Business Tabloid Awards, conducted at Atlantis The Palm, Dubai, UAE, on the 19th of January, 2023 witnessed a wonderful gathering of global award winners from the best organizations of the world. One of the esteemed participants, Vantage Markets bagged the Best CFD Broker 2022 award. Business Tabloid was proud and honored to […]
The 4th Annual Business Tabloid Awards, conducted at Atlantis The Palm, Dubai, UAE, on the 19th of January, 2023 witnessed a wonderful gathering of global award winners from the best organizations of the world. One of the esteemed participants, GCC Exchange bagged the Fastest Growing Remittance Service Provider 2022 award. Business Tabloid was proud and […]
The 4th Annual Business Tabloid Awards, conducted at Atlantis The Palm, Dubai, UAE, on the 19th of January, 2023 witnessed a wonderful gathering of global award winners from the best organizations of the world. One of the esteemed participants, Almarai Company bagged the Best Shariah Compliant Deal 2022 award. Business Tabloid was proud and honored […]
According to H.H. Sheikh Mansour bin Zayed Al Nahyan’s vision, the Central Bank of the UAE (CBUAE) today launched its Financial Infrastructure Transformation Programme (FIT programme) to speed up the digital transformation in the financial services sector as part of a larger strategy aimed at enabling the CBUAE to be among the top central banks […]
Aftermarket participants voiced concerns over the eligibility of the Indian conglomerate’s companies for certain of its indexes, index provider MSCI announced on Thursday that it had decided that some Adani stocks should no longer be labelled as free float. It stated that as part of its routine assessment for February, changes for Adani securities linked […]
The top companies in the world’s trailblazing industries came together for the 4th Annual Business Tabloid Awards on January 19, 2023, at Atlantis The Palm in Dubai, United Arab Emirates. The Annual Business Tabloid Awards recognizes excellence in various industries, including Banking, Finance, Insurance, Real Estate, Technology, Healthcare, Leadership and Logistics & Transportation. A panel […]
LMR, the $9.8 billion hedge fund is opening a location in Dubai as part of its strategy to grow within the UAE. The London-based company has a licence from the DIFC and is upbeat about opportunities in the UAE, which has emerged as the top destination for foreign millionaires. According to a source with knowledge […]
The largest cryptocurrency exchange in the world, Binance, has abandoned a plan to help its smaller rival FTX. According to Binance, the purchase will not be pursued after due diligence. It claimed that information about “mishandled customer funds and alleged US agency investigations” had influenced its choice. A “liquidity crunch” brought on by a spike […]
