Arabian Post Staff Dubai Expo 2020 so far looks positive and will undoubtedly boost travel and hospitality within the UAE, thus proving a critical marker for recovery in its travel and tourism sector in terms of visitor numbers, PwC said in its latest Middle East Economy Watch, ‘Recovery accelerates in the GCC, despite inflation concerns’. The report said a combination of factors are contributing to recovery across the […]
Arabian Post Staff An international cryptocurrency trading scam targeting iPhone users through popular dating apps, such as Bumble and Tinder has been unearthed. A report detailing the latest findings, “CryptoRom Fake iOS Cryptocurrency Apps Hit US, European Victims For At Least $1.4 Million,” shows that the operation has escalated. The attackers have expanded from targeting people in Asia to include people in the U.S. and Europe. Sophos […]
Arabian Post Staff DP World Limited handled 58.4 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in 9M2021, with gross container volumes increasing by 11.9% year-on-year on a reported basis and up 11.4% on a like-for-like basis, the company said. On a 3Q2021 basis, DP World handled 19.8 million TEU, up 8.1% year-on-year and up 7.9% on a like-for-like basis. 3Q2021 gross volume […]
Arabian Post Staff Dubai-based Damac group has entered a partnership with Dataplex Group Limited, a data centre colocation, engineering and construction solutions company headquartered in Dublin, Ireland. The partnership will focus on brownfield projects involving retrofitting existing structures and larger greenfield projects, with specific focus on hyperscale and wholesale colocation customers. Damac has also invested in Dataplex, which will result in a shareholding of up to 45% […]
Arabian Post Staff The first bitcoin futures ETF will begin trading this week, marking a milestone in the development of crypto industry. The futures product has been approved by the Securities and Exchange Commission. The debut will be with ProShares, a filing from the company indicated. This means the exchange will allow investors to trade the funds as allowed under federal law without SEC intervention. The ProShares Bitcoin […]
Arabian Post Staff The Federal Tax Authority (FTA) has processed more than 9,640 requests to recover Value-Added Tax (VAT) incurred by UAE nationals on building their new residences by September 2021 – more than 107.1% growth from the figure reported in the first nine months of 2021 compared to the total number of processed requests until the end of 2020. In a press statement, the Authority highlighted […]
Arabian Post Staff Africa is set to power the world’s digital transformation with its huge young talent base powering an offshore services export revolution with Egypt in pole position and Ghana set to lead on bridging the digital gender divide, day one GITEX GLOBAL Leaders Vision Summit in Dubai heard today. Speaking on the Africa focus opening day of the inaugural Leaders Vision summit, H.E Dr. Amr […]
Arabian Post Staff Malaffi, the region’s first Health Information Exchange (HIE) platform and a strategic initiative of the Department of Health – Abu Dhabi (DOH), announced that all public and private hospitals in the Emirate are now connected to the platform. This is an important milestone towards allowing healthcare providers to safely exchange important patient health information in real-time, creating a centralised database of unified patient records. […]
Arabian Post Staff The Dubai World Trade Centre Authority (DWTCA) today announced new regulations to encourage family businesses to establish Single and Multiple Family Office (SFO & MFO) licenses with the free zone. The regulations address the needs of family-run entities and introduce a new platform for wealthy families to set-up offshore holding companies within DWTCA’s designated free zone to manage their private family global wealth, assets […]
Arabian Post Staff Co-hosted by NexChange Group, Evolution Group and EcoX Dubai, Gulf Blockchain Week 2021 takes place in JW Marriott Marquis Dubai. The week-long event continues from October 8 to October 15, 2021. The week’s core event, set for October 11-12, is the Gulf Blockchain Summit. Distributed ledgers, and blockchain technology, have already disrupted many industries, created decentralized economy opportunities while drastically improved quality for existing services for governments, corporations, private […]
Arabian Post Staff Etihad Rail, the developer and operator of the UAE National Rail Network, has announced signing a strategic partnership with Herrenknecht, one of the oldest and largest companies specialised in tunnelling solutions, to develop new tunnel design and construction technologies. The agreement, which took place on the sideline of Expo 2020 Dubai, was signed by Shadi Malak, Chief Executive Officer of Etihad Rail, and Martin […]
Arabian Post Staff Oil prices are currently ruling at such levels that they carry quite some risk for traders, with today’s wild fluctuation illustrating their fragility and vulnerability to market developments. As Monday’s OPEC+ policy decision does not relieve the market tightness further in coming months, oil prices continued their stunning rally this morning. Despite the bullish morning, the API estimate that US crude stocks built last […]
Arabian Post Staff Bank of America has launched its digital asset research with the publication of a report entitled “Digital Assets Primer: Only the first inning,” led by Alkesh Shah, head of Global Cryptocurrency and Digital Asset Strategy. Digital assets represent a $2 trillion+ market value with 200 million+ users, and have the potential to transform every industry by improving efficiency and reducing friction across transactions. Hundreds […]
Arabian Post Staff The United Arab Emirates Space Agency announced the commencement of a new Emirati interplanetary mission, designed to further accelerate the young nation’s space engineering, scientific research and exploration capabilities and drive innovation and opportunity in the country’s private sector. Built on the knowledge and experience gained from the Emirates Mars Mission (EMM), the new mission will involve significant participation from Emirati private sector companies. […]
Arabian Post Staff During September, the Dubai Gold and Commodities Exchange (DGCX) once again registered a high monthly Average Open Interest (AOI), amounting to 154,629 contracts. Open interest is an indicator of the total number of futures contracts held by market participants at the end of the trading day – and the significant increase over the last few months reflects a growing appetite from market participants. Following […]
Arabian Post Staff The new water feature is a star attraction at Dubai Expo 2020. Thunderous music, climbing and falling water waves, synchronised with haunting melodies, combine to weave a certain magic for the spectators. The mechanics of the installation creates the illusion that the water is shooting in reverse from the sides as it rises above spectator’s heads before falling to their feet. The installation is […]
Arabian Post Staff Expo 2020, which just got under way with the kind of fanfare typically characteristic of Dubai, is expected to lead to a significant rebound in tourism and other domestic economic activities. The prestigious show is also expected to greatly add to the emirate’s attraction for highly skilled professionals and support private sector employment, increase trade and foreign investment, and harness the benefits of technology, […]
Arabian Post Staff IMF has forecast a gradual recovery by the UAE economy in 2021, supported by the country’s early and strong health response, continued supportive macroeconomic policies, and rebound in tourism and domestic activity related to the delayed Expo 2020. The Fund expects non-oil GDP growth to exceed 3 percent this year, and to improve further in the medium-term, while oil GDP will continue to grow […]
Arabian Post Staff Residential property values in the UAE’s two largest cities, Dubai and Abu Dhabi, have expanded at their fastest pace since 2015, according to provisional data for the third quarter from global property consultancy, Knight Frank. According to Faisal Durrani, Partner – Head of Middle East Research, the UAE’s decisive, rapid and world leading response to the pandemic has caught the attention of the world’s […]
Arabian Post Staff Dubai’s non-oil external trade surged 31 percent in the first half of 2021 to reach AED722.3 billion from AED550.6 billion in the corresponding period in 2020. Exports grew 45 percent year on year (YoY) in H1 2021 to AED109.8 billion from AED75.8 billion, which supports the goal of the 10 x 10 programme (one of the nation’s ‘Projects of the 50’ initiatives) to increase […]
Image Source Running a business is no simple task. Sure, there are countless benefits that come hand in hand with being your own boss and running your own company. You get to choose your working style. This includes choosing your working hours, choosing when you want to take breaks and choosing when you want time off. You get to choose what kind of industry you specialise and […]
Arabian Post Staff The Abu Dhabi Emergency, Crisis and Disasters Committee for the Covid-19 Pandemic has approved home quarantine without the use of wristbands for international travellers and those in contact with positive cases, effective Sunday, 19 September 2021. Positive cases must still wear a wristband. The decision follows implementation of enhanced precautionary measures. The committee has approved continued strict adherence to home quarantine procedures and required […]
Arabian Post Staff UAE headquartered investment group Yas Holding has completed the acquisition of Gulf Inject LLC (GI) from Ras Al Khaimah-based Gulf Pharmaceutical Industries (Julphar), a listed UAE-based pharmaceutical company. The 100% acquisition, which includes Gulf Inject’s Jebel Ali Free Zone branch, was completed through Yas Holding’s dedicated healthcare investment vehicle, GlobalOne Healthcare Holding LLC (GHH). GHH’s healthcare portfolio includes biopharma, manufacturing, medical supply chain, hospital […]
Arabian Post Staff Swvl Inc., a Dubai-based provider of transformative mass transit and shared mobility solutions, announced that several investors, including Agility and Chimera Abu Dhabi, have completed the pre-funding of $35.5 million of the aggregate PIPE subscription raised in connection with the Company’s proposed business combination with Queens Gambit Growth Capital (NASDAQ: GMBT). Swvl is executing a comprehensive growth strategy with the goal of realizing approximately […]
