Business News

ADNOC Distribution announced on Tuesday the launch of the second phase of its service station solarisation programme in collaboration with Emerge, a joint venture between Masdar and the EDF Group.

Emirates has cancelled some flights to and from Houston, Texas, due to severe weather conditions. The airline confirmed that flights EK211 and EK212, both due to take off on Tuesday, have been affected.

TikTok began restoring its services on Sunday after President-elect Donald Trump said he would revive the app's access in the US when he returns to power on Monday.

Ajman has recorded a significant boost in business activity during 2024, highlighted by strong growth in the number of economic licences issued and a substantial rise in the Business Confidence Index (BCI), statistics from the Department of Economic Development in Ajman (Ajman DED) revealed on Monday.

His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, has reviewed the Dubai Economic Security Centre's Strategy 2025-2030.

Dubai Land Department (DLD) announced on Sunday that private property owners of all nationalities in the Sheikh Zayed Road area (from the Trade Centre Roundabout to the Water Canal) and Al Jaddaf area can now convert their ownership status to freehold.

As part of Sharjah Electricity, Water and Gas Authority's (SEWA) efforts to improve and develop water transmission and distribution networks in all regions of the Emirate of Sharjah, the Authority announced on Sunday it is implementing a number of projects in Kalba city at a cost of up to AED107.4 million.

The UAE has ranked among the top 35 countries globally with the largest shipping fleets by tonnage and capacity, according to the 2024 report by the United Nations Conference on Trade and Development (UNCTAD).

TikTok stopped working in the United States late on Saturday and disappeared from Apple and Google app stores ahead of a law that takes effect on Sunday requiring the shutdown of the platform used by 170 million Americans.

Bolt, the e-hailing platform, has reached a major milestone, completing 1 million trips in Dubai since its launch in December 2024.

Dubai International Airport (DXB) has retained its title as the World’s Busiest International Airport with 60.2 million seats in 2024, an increase of 7 per cent capacity from 2023, according to global travel data company OAG.

ADNOC Gas, in partnership with Baker Hughes, an energy technology company, has successfully installed British climate technology firm Levidian’s patented LOOP technology at the Habshan Gas Processing Plant.

The DMCC, Dubai's leading international business district, and REIT Development have unveiled plans for the Crypto Tower at Jumeirah Lakes Towers.

The UAE, Italy, and Albania, in the presence of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, signed a landmark tripartite strategic partnership framework on Wednesday, to enhance cooperation in renewable energy and energy infrastructure.

Ras Al Khaimah Tourism Development Authority (RAKTDA) reported its strongest year ever, welcoming a record-high 1.28 million overnight arrivals in 2024, it said on Wednesday.

The UAE and Japan have discussed ways to enhance the space industry and cooperation as the two nations look to build on the Comprehensive Strategic Partnership signed in 2022.

The UAE and Kenya have signed a Comprehensive Economic Partnership Agreement (CEPA) at Qasr Al Bahr in Abu Dhabi, designed to deepen trade and investment ties, strengthen supply chains, and enhance market access across the Middle East and Africa.

The United Arab Emirates and Malaysia have signed a Comprehensive Economic Partnership Agreement (CEPA) during a ceremony witnessed by President His Highness Sheikh Mohamed bin Zayed Al Nahyan and Anwar Ibrahim, Prime Minister of Malaysia.

President His Highness Sheikh Mohamed bin Zayed Al Nahyan has joined Christopher Luxon, Prime Minister of New Zealand, to witness the signing of a Comprehensive Economic Partnership Agreement (CEPA) between the two nations.

The UAE's Ministry of Energy and Infrastructure (MoEI) and Uruguay's Ministry of Industry, Energy, and Mining have signed a Memorandum of Cooperation on the sidelines of Abu Dhabi Sustainability Week 2025.

UAE state-owned renewables firm Masdar has launched a renewable energy facility that will produce 1 gigawatt of uninterrupted clean power, the company's chairman said on Tuesday.

A fully integrated talent management agency for content creators and influencers, XPOZED, was officially launched during the 1 Billion Followers Summit on Monday. 

The UAE and Malaysia on Monday signed a Memorandum of Understanding (MoU) to support joint investment in artificial intelligence (AI), as part of Malaysia Madani Artificial Intelligence (MMAI) initiative.

Content creator Simon Squibb from the United Kingdom was awarded the "One Billion Award," valued at $1 million, as the 1 Billion Followers Summit came to a close on Monday.

UAE-based Creators HQ has partnered with social media platform X, launching a competition with a $500,000 prize to produce "meaningful and exclusive content" for X. 

Sharjah International Airport saw remarkable growth in 2024, welcoming over 17.1 million passengers, marking an 11.4% increase from 2023.

Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, has highlighted the UAE's leading position in clean and renewable energy, emphasising its crucial role in stabilising global energy markets and driving sustainable development through significant domestic energy investments.

Creators HQ was inaugurated at the 1 Billion Followers Summit on Sunday, as the UAE aims to be a prime destination for digital media. 

The Managing Director of social media platform X in the MENA region, Antoine Caironi, has praised the UAE’s investment in its digital economy, saying the country is at the forefront of innovation.

Jeff Bezos in an interview with Reuters on Sunday said he does not think SpaceX CEO Elon Musk will use his close ties with US President-elect Donald Trump to undercut his space company Blue Origin, adding he feels "very optimistic" about the incoming administration's space agenda.

Fatima Abdulrahman, Director of Government Communications at the Ministry of Economy, said on Sunday the strategic partnership with the 1 Billion Followers Summit will help highlight the UAE's exceptional tourism services and products, further enhancing the country's global tourism identity.

The Economic Integration Committee has held its first meeting for the year 2025, reviewing the Committee’s efforts and achievements in 2024 in promoting the growth and diversification of the national economy.

The Dubai Press Club (DPC) has concluded the Economic Content Creators Programme, a specialised media training initiative supported by the UAE Ministry of Economy.

The UAE and Mexico are working to boost trade and investment relations, with a focus on fostering partnerships between their private sectors.

Ethiopia was set to launch a stock exchange on Friday, the latest step in Prime Minister Abiy Ahmed's attempts to liberalise the struggling economy.

Facing a looming ban in the United States, TikTok's fate will be in the hands of the Supreme Court in a case being argued on Friday that pits free speech rights against national security concerns over the widely used short-video app owned by Chinese company ByteDance.

Nvidia criticized a reported plan by the Joe Biden administration to impose new restrictions on AI chip exports, saying that the outgoing US leader should not "preempt incoming President Trump" by enacting a last-minute policy.

During his participation at CES 2025 in Las Vegas, a premier global technology event held in Las Vegas, Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, has met with senior US officials and business leaders, as the UAE and the US continue to explore ways to strengthen their strategic cooperation in advanced technology and innovation.

ADNOC Logistics and Services plc on Wednesday announced the completion of its acquisition of an 80 per cent stake in Navig8 for $1.04 billion (AED3.8 billion), with a contractual commitment to acquire the remaining 20 per cent in mid-2027.

Donald Trump has announced a $20 billion (AED 73.4 billion) investment from Damac Properties to build data centres across the United States.

Meta Platforms has elected three new directors to its board, including Dana White, CEO of Ultimate Fighting Championship (UFC) and close friend of President-elect Donald Trump.

Abu Dhabi launched Abu Dhabi Registration and Licensing Authority (ADRA) on Monday, aiming to further enhance and regulate the business sector across the emirate.

The 2025 edition of Abu Dhabi Sustainability Week (ADSW) is set to take place from January 12 to 18 in Abu Dhabi, bringing together global leaders to accelerate sustainable development and advance socioeconomic progress.

For the second year in a row, Dubai has been ranked first regionally and eighth globally in the Global Power City Index 2024 issued by the Mori Memorial Foundation’s Institute for Urban Strategies in Japan.

Emirates marked a significant milestone on Friday as its first Airbus A350 entered commercial service, operating its inaugural flight from Dubai to Edinburgh.

President Joe Biden is set to ban new offshore oil and gas development across 625 million acres (250 million hectares) of US coastal territory, Bloomberg News reported on Friday.

Dubai welcomed 16.79 million international tourists during the first 11 months 2024 between January and November, an increase of nine per cent compared to the same period last year when the number of international tourists reached 15.37 million.

Dubai International (DXB) is on track to welcome 4.3 million guests in the first 15 days of the year, setting the stage for its busiest January yet.

US President Joe Biden has decided to officially block Nippon Steel's proposed $14.9-billion purchase of US Steel, a person familiar with the decision said on Friday, dealing a probably fatal blow to the contentious merger plan.

Abu Dhabi Global Market (ADGM) has announced a 50 per cent reduction of company registration fees for non-financial and retail companies within its jurisdiction, including Al Maryah and Reem Islands, while increasing fees for financial and tech companies.

Dubai’s real estate market had a record-breaking year, with new milestones being set throughout 2024, culminating in an all-time peak of 180,900 transactions worth AED522.1 billion, according to a report issued on Thursday by fäm Properties.

Abu Dhabi's Mubadala Investment Company accounted for about 20 per cent of the almost $136.1 billion spent by sovereign wealth funds worldwide last year, overtaking Saudi Arabia's wealth fund amid a surge in spending from Gulf countries.

Dubai Duty Free completed 2024 with a record annual turnover of AED 7.901 billion ($2.16 billion) as sales surged towards the end of the year. 

The UAE's stock markets experienced substantial growth in 2024, driven by a robust economy, foreign investments, and IPOs.

Russian natural gas exports via pipelines running through Ukraine to Europe were halted in the early hours of New Year's Day as a transit deal expired and warring Moscow and Kyiv have failed to reach an agreement to continue the flows.

Expo 2020 Dubai has reaffirmed its commitment to gender equality and women’s empowerment.

Expo 2020 Dubai and the United Nations Global Compact are joining forces to hold a Sustainable Development Goals Business Forum.

More than 2,500 online travel agents, tour operators, hotel groups and airlines have signed on as Authorised Ticket Resellers (ATRs) for Expo 2020 Dubai.

A spectacular line-up of sights, sounds and tastes await visitors at Expo 2020 Dubai, through a series of specially curated itineraries.

Apple on Tuesday launched the iPhone 12 with faster 5G connectivity, which the company hopes will spur a wave of upgrades and keep its sales booming through the end of the year.