Everything you need to know about the ever-evolving world of business including the latest updates in business and economy in Dubai.
The operator of KFC and Pizza Hut outlets in the Middle East & North Africa (MENA) and Kazakhstan, Americana Restaurants International, plans an initial public offering of two billion dollars. Americana Restaurants International said on Wednesday that it would put 30 percent of its capital shares for trading on Abu Dhabi Securities Exchange (ADX) and … Read more
The emirate kingdom, with the aim to progress its economy away from the oil industry, has reported auctioning its five new mining licenses with zinc, copper, lead, and iron. Local and international investors are welcome for the auction in 2023. According to the minister of Industry and mineral resources Bander Alkkhorayef, it is reported that … Read more
‘The United Arab Emirates aims to increase the share of clean energy projects to 50% of its overall energy mix by 2050’ said UAE’s Minister of Energy and Infrastructure – Suhail al-Mazrouei, on Sunday. The Gulf state would start revamping its energy strategy from the beginning of 2023 to align it with the goal of … Read more
Donald Trump praised Elon Musk for his takeover of Twitter which was finalized after months of speculation regarding the future of the major social media platform. “I am very happy that Twitter is now in sane hands, and will no longer be run by Radical Left Lunatics and Maniacs that truly hate our country” posted … Read more
After two long years of the coronavirus pandemic, the airline and airport industry is slowly coming back to normalcy. As more and more countries are lifting pandemic restrictions, there is now increased traffic. There is the resumption of normal overseas and domestic flights. The considerable drop in coronavirus cases has helped in the recovery of … Read more
The rapid infrastructure and sustainable development are attracting a wide range of tourists. The inauguration of mega tourism projects amidst the pandemic currently reflects the outcome. The Sharjah commerce and tourism development authority has witnessed enormous growth in tourism and hospitality in the last year. In the first of 2022, the tourism authority encountered a … Read more
The Public Corporation Dubai Financial Market (DFM) has announced their financial results for the Jan-Sept period registering an impressive increase of 133 percent in net profits (AED 38.1 million to AED 89 million) compared to the previous period in 2021. “We have posted a robust set of results in the third quarter. Increasing investor interest … Read more
The Commercial Bank of Dubai (CBD) has reported a whopping Dh1.32 billion in profits for the year-to-end September phase. CBD becomes the most recent bank in the UAE to join the Dh1 billion plus profit club after registering an impressive 25.8 percent increase from the same period last year. Commercial Bank of Dubai CEO Dr. … Read more
3 years have passed since the luxury sanitaryware and tiles retailer brand Casa Milano established their 30,000 sqft high-end outlet at Shaikh Zayed Road in 2019. Since then they’ve expanded their luxury portfolio to cover complete interior designing and outdoor decorations, opened a new showroom in Abu Dhabi, and partnered with the premium German sanitaryware … Read more
Abu Dhabi Islamic Bank, UAE’s biggest Sharia-compliant lender, reported its highest quarterly net profit. The profit was more than Dh1 billion ($274.9 million) in the third quarter of 2022. This profit was achieved by growth in all sectors of the business. The bank recorded a nearly 105 percent rise in net profit compared with the … Read more
