Saudi Arabia

A collection of 24 posts

Abu Dhabi Business Featured

UAE Announces 1 Billion AI Development Initiative for Africa...

UAE announced a USD 1bn “AI for development initiative” dedicated to expanding AI adoption and infrastructure development across Africa.

Dubai Business Featured

UAE Family Businesses are a Cornerstone of the Economy...

Family businesses in the UAE are a cornerstone of the economy, contributing 60% of GDP and employing 80% of the private sector workforce, according to the Ministry of Economy and Tourism.

Dubizzle Featured

Dubizzle Postpones IPO Plans…

Dubizzle Group Holdings, the leading digital classifieds marketplace in the MENA region, has announced it will postpone IPO plans to assess “optimal timing”. The listing was planned for November 6 on the Dubai Financial Market.

UAE Business Featured

Dubai Tops Global FDI Rankings with $11bn Inflows…

Dubai has underlined its global leadership in foreign direct investment (FDI), ranking number one worldwide for Greenfield projects for the eighth consecutive reporting period since H2 2021, according to data from the Financial Times Ltd’s FDI Markets database.

UAE Economy Featured

Private Capital Boom to Exceed $30tn by 2030 as Dubai Cements Global Wealth Hub Status…

DIFC’s new report shows private markets will exceed $30tn by 2030 as global wealth hits $471 trillion, reinforcing Dubai’s rise as a private capital hub.

UAE Tax Featured

UAE Announces Tax Change on Sugar-Sweetened Beverages …

UAE MoF and FTA announced a change to excise tax on sugar-sweetened beverages – from the current flat rate, it will be revised to a higher tax per litre if the sugar content per 100 ml is higher.

Abu Dhabi Featured

OpenAI in talks for free ChatGPT Plus for all UAE Residents!

Negotiations are underway between the UAE and OpenAI that may make the company’s ChatGPT Plus artificial intelligence chatbot available to all residents free of charge, though a final deal has not been reached.

Disneyland Featured

New Disney Theme Park announced in Abu Dhabi...

Announcement of the Disney Theme Park Resort project on Yas Island, Abu Dhabi, following a strategic partnership agreement between The Walt Disney Company and Miral.

USA Featured

How Trump’s ‘Reciprocal’ Tariffs work and what they mean for Global Trade...

Trump argues that decades of “unfair” trade practices have hollowed out America.

entrepreneurs Featured

Global Entrepreneurs Bet Big on Dubai…

Dubai took the top spot with the startup ecosystem valued at over $23 billion at the end of 2023.

Abu Dhabi Featured

OPEC+ Extended the Ongoing Oil Production Cuts into 2026…

The current voluntary cuts of 2.2mn bpd will continue till March 2025.

Presidential elections Featured

Equity Markets Cheered Trump’s Re-election as President...

The S&P500 crossing 6,000 points to a new record.

tax law Featured

UAE Introduces New Tax Law…

UAE announces eInvoicing to simplify tax procedures for businesses in the country.

Abu Dhabi Featured

Gold Prices Surge to All-Time High…

Gold prices surging to an all-time high of $2,708 last week, as expectations of further rate cuts by the US Federal Reserve and uncertainties over the impending US election, boosted demand for bullion.

Real Estate Featured

Dubai Real Estate: Secondary Market Sales Topped $20.8bn in H1…

The Dubai real estate is thriving, with secondary sales of properties reaching AED76.34bn ($20.8bn) in the first half of the year.

US elections Featured

US Presidential Election 2024: Markets in Suspense as Latest Odds give Trump a 4% edge over Harris…

The US election betting odds posting a significant 4 percent jump in favour of Donald Trump at 51 percent, over 47 percent for Kamala Harris, in the week ended on Monday, September 2, over the previous week.

AML Featured

UAE Tightens Anti-Money Laundering Laws…

UAE tightens anti-money laundering laws, forms new committees to fight financial crime.

business Featured

Major Global Tech Outage Leads to Disruptions Across Multiple Sectors from Airlines to Banks…

Major equities markets ended in the red last week, following a global tech outage that led to disruptions across multiple sectors from airlines to banks, raising questions about cybersecurity and interconnected / integrated ecosystems.

Dubai Residentcy Featured

UAE Announced a New 10-year Blue Residency…

UAE announced a new 10-year visa for individuals who have made “exceptional contributions and efforts in the field of protecting the environment”.

Dubai Featured

Why are International Businesses relocating to Dubai…?

UAE News: Dubai will “never compromise” on the safety and security of individuals visiting, living and working in the city, Hoor Al Khaja, Senior Vice President of International Operations at Dubai Department of Economy and Tourism (DET) told Arabian Business. From January to March 2024, DET recorded 5.1 million

Dubai Featured

UAE Golden Visa: Wealthy ‘Retirees’ Flock to Dubai after $272,000 Rule Change…

Dubai’s exceptional services and amenities, including addition of a range of world-class healthcare facilities, are also acting as catalysts for potential relocation for cash-rich retirees.

Dubai Featured

UAE Announces Ramadan 2024 Working Hours for Public and Private Sector…

UAE News: The UAE has announced reduced working hours for the public and private sectors during Ramadan 2024. The Ministry of Human Resources and Emiratisation (MoHRE) announced a reduction of two working hours per day for private sector employees during the Holy Month of Ramadan. UAE is forecast to grow

Taxation in UAE Featured

UAE has No Plans to Introduce an Income Tax or Raise VAT…

UAE has no plans to introduce an income tax or raise VAT, reiterated the Undersecretary of the Ministry of Finance on the sidelines of the World Governments Summit in Dubai.

Dubai Featured

BRICS UAE, Saudi Expansion Marks Biggest Challenge to the US Dollar in the 21st Century…

UAE News: Dubai PMI rose to a 16-month high of 57.7 in December (Novemver: 56.8), supported by the wholesale & retail sector’s strong “upturn in sales” alongside the travel & tourism sector’s “rapid” growth. New order growth was the second-fastest recorded since June 2019 and job