By Saifur RahmanThe Emirates Group, which operates the world’s largest airline Emirates and its ground handling and ticketing arm Dnata, reported a 7 percent growth to record $6.6 billion (Dh24.4 billion) profit before tax in its 2025-26 financial year ending March 31, 2026, despite a disruption of flight operations during the US-led attach on Iran and its fall-out on the regional aviation industry from February 28, 2026.With […]
By Saifur RahmanThe total value of 139.55 million payments through UAE FTS and ICCS last year exceeded Dh25.9 trillion (US$7.06 trillion), according to the UAE Central Bank.This includes the processing of 23.78 million physical cheques valued at Dh1.5 trillion through the UAE Central Bank’s Image Cheque Clearing System (ICCS) in 2025. A large chunk of these payments are linked to sale and purchase transactions by businesses that […]
By Saifur RahmanGCC financial wealth is projected to grow by roughly 4.7–5.2 percent annually, reaching US$3.5 trillion by 2026–2027, up from US$2.7–US$2.8 trillion in 2021–2022, driven by high oil prices, robust IPO activity in the UAE and Saudi Arabia, and a rising influx of high-net-worth individuals, according to a report by Boston Consulting Group.The recently announced plans by the UAE Government to automate 50 per cent of […]
By Saifur RahmanThe UAE will host the Annual Meetings of the International Monetary Fund (IMF) and World Bank Group in 2029 in Abu Dhabi, about 26 years after the country hosted the same in 2003 in Dubai.The news comes at a time when the UAE banking assets reached its highest value, to Dh5.4 trillion (US$1.47 trillion), and foreign reserves jumped 23.4 percent to Dh1.05 trillion (US$285.55 billion) […]
By Saifur RahmanCredit rating agencies have reaffirmed the UAE’s stable economic outlook with Moody’s Investor Services reaffirming Aa2 rating with Stable Outlook on April 3, 2026 – five weeks since the breakout of the war against Iran and the regional uncertainty.Moody’s completed a periodic review of the ratings for the UAE on March 30, 2026, which reaffirmed its previous rating, reflecting continued global confidence in the country’s […]
By Saifur RahmanUAE’s leading telecom operator Etisalat & (e&) has reported a 33.6 per cent jump in net profit to Dh14.4 billion (US3.92 billion) in 2025, compared to Dh10.8 billion (US$2.94 billion) recorded in 2024 with revenue growing at 23.1 per cent to Dh72.9 billion (US$19.86 billion), compared to Dh59.2 billion (US$16.13 billion) in the previous year.Its Consolidated Earnings before Interest, Tax, Debt and Amortisation (EBITDA) rose […]
By Saifur RahmanAbu Dhabi Chamber of Commerce and Industry (ADCCI), which represents the private sector of the region’s economic powerhouse Abu Dhabi, said, its new three-year strategy announced in 2024 has started to bear fruits as its membership grew 4.9 per cent to 157,207 between September 2024 and June 2025.Since September 2024, ADCCI has hosted 69 business events with government bodies, welcomed 70 trade and diplomatic delegations, […]
By Saifur RahmanGlobal credit rating agencies Moody’s Investors Service, Standard and Poor’s and Fitch Ratings have assigned ‘AA’ rating with stable outlook for the UAE economy, despite the regional tension. This comes right after the cessation of the military conflict in the region that significantly reduces security, political and economic risks.Standard and Poor’s (S&P Global) on June 17 has assigned ‘AA/A-1+’ long- and short-term foreign and local […]
By Saifur RahmanA number of UAE developers are entering the lucrative US$110.83 trillion real estate market in the United States, after their success in the UAE, which saw real estate transactions exceeded Dh893 billion last year. Americans are also one of the top ten nationalities to invest in the UAE’s real estate market where rental yield ranges between 7 to 9 percent.“Emirati investments in the US, totaling […]
By Saifur RahmanThe International Monetary Fund (IMF) has approved the allocation of US$1.33 billion to Bangladesh to support the country’s economy that witnessed slowdown since the change of government in August 2024. The allocation is part of the US$4.7 billion combined support package authorised by the IMF in January 2023 under the US$3.3 billion Extended Credit Facility (ECF) and Extended Fund Facility (EFF) and US$1.4 billion Resilience […]
By Saifur RahmanNisus Finance Investment Consultancy FZCO (NiFCO Dubai), a subsidiary of India’s Nisus Finance Services Company Limited (NIFCO), said it will place funds and assets worth up to US$500 million (Dh1.83 billion) for tokenisation in the UAE.NiFCO Dubai said, it has signed a Memorandum of Understanding (MoU) with Xchain Technologies FZCO (Toyow), a leading blockchain-based forensic and advisory firm, for the tokenisation of funds and assets […]
By Saifur RahmanThe governments and the private sector in the GCC are investing heavily in infrastructure and creating world-class race tracks for the development of motorsports that, coupled with strong interest among the local youth are spearheading the motorsports in the region. Home to two global Formula 1 race tracks, the region is yet to become a global hotspot for motorsports. Although a lot of youngsters aspire […]
By Saifur RahmanThe Emirates Group reported an 18 percent growth in profit before tax exceeding US$6.2 billion (Dh22.7 billion) – a new record – in the financial year 2024-25.This is the first financial year that the UAE corporate tax, enacted in 2023, is applied to the Emirates Group. After accounting for the 9 percent tax charge, the Group’s profit after tax reached US$5.6 billion (Dh20.5 billion).The world’s […]
By Saifur RahmanWhen Ho Kwon Ping, a young Stanford drop-out, saw an abandoned tin mine in Thailand’s Bang Tao Bay in Laguna Phuket area in 1984, he didn’t know what to do with it as the land that was dimmed ‘useless’ by its former occupiers. It was a patch of a waste land with no activities then. In his Stanford days, he was a firebrand social activist. […]
By Saifur RahmanThe UAE economic growth is expected to remain healthy at around 4 percent while fiscal surplus is expected to decline to 4 percent of GDP this year from an estimated 5 percent of GDP last year, the International Monetary Fund said.This is slightly lower than the projections made by the Central Bank of the UAE (CBUAE) which last month projected the UAE’s real GDP growth […]
By Saifur RahmanGovernment of Iraq is undertaking a number of reforms including extending sovereign guarantees to boost foreign investment and trade to re-build its economy badly affected from the Gulf War, sectarian strife, terrorism and COVID-19, a top official told delegates at a conference in Dubai.“We have unified the tax system in Iraq and are currently in the process of empowering the private sector to play a […]
By Saifur RahmanThe International Monetary Fund (IMF) on Wednesday said, it will grant US$645 million to support Bangladeshi economy, about US$105 million less than the US$750 million sought by Bangladesh Government to overcome current economic challenges.Of this, around US$426 million will be provided under IMF’s Extended Credit Facility (ECF) and Extended Fund Facility (EFF), while US$219 million will be made available under the Resilience and Sustainability Facility […]
By Saifur RahmanDubai’s state-owned publicly-listed utility Dubai Electricity and Water Authority (DEWA), reported a 6.2 percent growth in revenue reaching a record US$6.4 billion (Dh23.5 billion) and net profit of US$1.5 billion (Dh5.5 billion) in the first nine months of the year. DEWA, the share of which is traded on Dubai Financial Market also declared a US$844.6 million (Dh3.1 billion) dividend to shareholders.DEWA’s first 9-month revenue growth […]
By Saifur RahmanBangladesh’s economy faces multiple challenges, said the International Monetary Fund in its latest report. Bangladesh’s economy is suffering from liquidity shortage and high inflationary pressure as its currency lost value by 38.23 percent from BTk85 per US dollar in March 2022 to BTk117.5 per dollar in June 2024.“Stubbornly high international commodity prices and continued global financial tightening have amplified macroeconomic vulnerabilities. Although the current account […]
By Saifur RahmanProperty developers in the UAE and the GCC countries have raised US$4.3 billion (Dh15.48 billion) utilising debt market instruments such as bonds and Islamic sukuks to fund existing and future real estate projects, according to latest announcements.These include the successful closure of the latest US$400 million (Dh1.46 billion) sukuk issuance by Arada Developments LLC, a Sharjah-based developer of mixed-use communities, that was oversubscribed 3.5 times […]
By Saifur RahmanInvestment Corporation of Dubai, an investment arm of the Government of Dubai, reported a 68 percent jump in net profits to a new record of Dh60.8 billion on Dh310.2 billion in revenue for the year ended 31 December 2023.This growth has been backed with strong growth reported by the Emirates Group that includes the world’s largest international passenger carrier Emirates Airline and its ground handling […]
By Saifur RahmanEmirates Group that includes the world’s largest international passenger carrier Emirates Airline and its ground handling and ticketing arm Dubai National Air Travel Agency (Dnata) reported a 71 percent jump in net profits exceeding Dh18.7 billion (US$5.1 billion) in 2023-24 financial year ending March 31 2024, compared to Dh11 billion (US$3 billion) recorded the previous year. This is a new profit record for Emirates Group.Group […]
By Saifur RahmanDubai Government will invest Dh128 billion (US$34.87 billion) in developing the world’s largest airport terminal at Al Maktoum International Airport, part of the 140-square km Dubai South Aerotropolis, which has a design-built capacity to handle 260 million passengers per annum.Al Maktoum International Airport will cover 70 square kilometres, or half of the 140-square kilometre Dubai South, which is ten times the size of the existing […]
By Saifur RahmanThe number of mainland business license in Dubai jumped 26.8 percent to 217,788 companies in 2023, according to Dubai Chambers. “[The year] 2023 has been another year of landmark achievements for Dubai Chambers in which we furthered our commitment to serving our members’ interests. The record growth in the number of new member companies is a testament to our success in enhancing the competitiveness of the […]
