Emirate-owned Emirates NBD has recorded a 9 percent drop in its net profit for the first half of 2025, reporting AED 12.5 billion, down from AED 13.8 billion during the same period last year, the bank announced on Thursday. The decline has been at…
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ROSHN Group has entered strategic collaborations with Singapore’s leading technology and entrepreneurship organisations as part of a major initiative to transform Saudi Arabia’s real estate development landscape. The agreements, signed under the R…
Authorities in the United Arab Emirates have unveiled a significant overhaul of the excise tax framework for sugar-sweetened beverages. A new tiered volumetric system will link the levy applied per litre directly to a drink’s sugar concentration p…
The UAE Ministry of Finance has launched its federal general budget cycle for 2027–2029, transforming fiscal management into a strategic instrument aimed at bolstering sustainability, innovation and national economic goals. Sheikh Maktoum bin Moha…
Eni and Khazna have formalised a preliminary agreement to build a 500 MW AI‑oriented data centre campus in Ferrera Erbognone, near Milan, marking the first phase of a broader drive to establish up to 1 GW of IT capacity across Italy under Italy–UA…
Saudi Arabia’s Cabinet has approved a transformative update to property laws that will permit non-citizens to own real estate in designated zones, effective January 2026. Majed Al‑Hogail, Minister of Municipalities and Housing and Chair of the Rea…
Saudi Central Bank’s balance sheet expanded to roughly SAR 2 trillion by the end of May 2025, marking an advance of around 5 percent from the prior year. This milestone reflects substantial accumulation in reserve assets, reinforcing the kingdom’…
Aldar Properties has acquired warehousing and light industrial assets in Al Dhafra’s ALMARKAZ Industrial Park from Waha Capital for AED 530 million, adding 182,500 m² of net leasable area to its logistics platform.
The assets, comprising 17 bu…
UAE’s National Central Cooling Co and CVC’s infrastructure arm, CVC DIF, have agreed to acquire Abu Dhabi-based PAL Cooling Holding from Multiply Group in a deal worth AED 3.8 billion, the firms announced. The transaction, currently awaiting regu…
Dubai’s Roads and Transport Authority, working with US-based Joby Aviation, has achieved a milestone by completing the first piloted test flights of its electric air taxi in the emirate. The eVTOL aircraft—designed to carry a pilot and four passen…
Mercedes‑Benz Cars Middle East has appointed Michael Stroband as its new President and Chief Executive Officer, underlining the region’s growing strategic significance within the global luxury carmaker. Stroband assumes leadership from Martin Schu…
A groundbreaking development is changing the face of Sheikh Zayed Road as Omniyat unveils the 48‑storey Lumena tower, a visionary commercial workspace. Scheduled for handover in Q3 2029, the project — with a gross development value of AED 3.6 bill…
Al Ain Farms Group, the UAE’s foremost provider of protein and beverages, has entered into a joint development agreement with Finland‑based FoodIQ to bring its Multi‑Layer Cooker system to the Middle East and North Africa. AAFG will be the first …
A residential land plot on Palm Jumeirah has been sold for Dhs365 million, marking the island’s most expensive land-only transaction to date and underscoring renewed appetite for ultra-prime real estate in Dubai. The deal, brokered by Dubai Sotheb…
Riyadh Air has secured a landmark deal for 50 Airbus A350‑1000 aircraft—25 firm with options on 25 more—announced during the 55th Paris Air Show at Le Bourget Airport. The signing brought together top officials from the Public Investment Fund, Riy…
Sobha Realty has upended conventional UAE property development with its fully Backward-Integrated model, spanning design, manufacturing and on‑site assembly, driven by its modular arm, Sobha Modular Industries. The developer’s integrated strategy,…
Dubai South Properties has introduced South Square, a premium residential community positioned along Sheikh Mohamed bin Zayed Road, mere minutes from the upcoming terminal at Al Maktoum International Airport. The project offers more than 550 apart…
Abu Dhabi’s International Resources Holding , part of the International Holding Company , has agreed to acquire a controlling 56 per cent stake in Alphamin Resources, a key tin producer based in the Democratic Republic of Congo , for $367 million.…
Saudi Arabia is set to issue $12.6 billion in bonds by the end of 2025, as the kingdom intensifies efforts to finance its ambitious economic transformation under Vision 2030. This move comes amid a projected budget deficit of $26.9 billion for the…
Dubai Duty Free achieved a new milestone in May, recording sales of Dhs724.7 million , marking the highest monthly revenue for the year and representing a 12.5 per cent increase compared to the same month in 2024. This performance ranks as the sec…
Gulftainer, the Sharjah-based global port and logistics operator, has appointed Farid Belbouab as Group Chief Executive Officer, effective 1 June 2025. Belbouab succeeds Peter Richards, who steps down after a 38-year tenure, including nearly two d…
Park Rotana and Park Arjaan by Rotana, both situated in Abu Dhabi, have garnered significant recognition at the 2025 Haute Grandeur Global Hotel Awards. Park Rotana was named the Premier Corporate City Hotel in the Middle East, while Park Arjaan r…
KeyMavens Real Estate Development, in collaboration with Engel & Völkers Middle East, has reported that 90% of units at Montage, Dubai's inaugural urban residential resort, have been sold. This milestone underscores the project's stron…
Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance of the UAE, has enacted Decision No. of 2025 in his role as Chairman of the Financial Audit Authority . This decision f…