Business

UAE's Ali Alhosani has been elected Executive Director at the International Monetary Fund (IMF), becoming the first Emirati to hold this senior international position.

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence, has witnessed the signing of an agreement to establish the Centre for Global Future Opportunities in Dubai during the Annual Meeting of Global Future Leaders.

Founder and Managing Director of Emaar Properties, Mohamed Alabbar revealed that Emaar has sustained its collection rate of 98 per cent, with its sales backlog standing at around AED 180 billion.

Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, has met India’s Minister of External Affairs, Dr Subrahmanyam Jaishankar, in Abu Dhabi.

Dubai developer H&H has revealed details of the Water Gardens, a new mixed-use destination in the Dubai International Financial Centre (DIFC), with the first phase due to be completed in 18 months.

Netflix is cutting about 6 per cent of its workforce, or roughly 1,000 jobs, in its biggest round of layoffs since 2022, the Wall Street Journal reported on Wednesday, citing an email sent to employees.

Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, has explored opportunities for cooperation in the banking sector during talks with Bernard Mensah, President of International for Bank of America.

Small AI models may be only months away from being able to copy themselves onto everyday internet-connected devices, such as smart ovens and cheap Android TV boxes, according to research published by Anthropic on Monday.

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence, has praised the progress of the Dubai Cashless Strategy, with cashless transactions now accounting for 90.1 per cent of all transactions in the Emirate.

The Dubai Integrated Economic Zones Authority (DIEZ) has announced the doubling of the venture capital fund managed by its investment arm, Oraseya Capital, from AED500 million to AED1 billion.

The United Arab Emirates has ranked first worldwide in Artificial Intelligence integration, with 70.1 per cent of its working-age population using AI.

A UAE delegation is set to participate in the annual meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG), taking place in Thailand's Bangkok from October 12-18.

Beauty World Dubai has wrapped up its 30th edition at the Dubai World Trade Centre, drawing more than 62,000 visitors from over 170 countries

Nakheel, a member of Dubai Holding Real Estate, has awarded Mar Marine & Building Contracting LLC a contract for marine and beach works on Island B at Dubai Islands.

The National Media Authority (NMA) has teamed up with TikTok to run a training session for young media professionals from across the Arab world.

The UAE and Thailand have concluded negotiations on a Comprehensive Economic Partnership Agreement (CEPA), after non-oil trade between the two countries reached $12.3 billion (AED 45.17 billion) in 2025.

The Abu Dhabi Government has launched an AI training programme for every government employee as well as the wider public, built with OpenAI, Microsoft and Mohamed bin Zayed University of Artificial Intelligence (MBZUAI).

The International Monetary Fund has reached a staff-level agreement with Pakistan on reviews of some of its lending programs, potentially unlocking about $1.21 billion in financing pending board approval, the fund said on Wednesday.

The African Union launched the continent's first credit rating agency on Wednesday, seeking to provide an alternative to the "big three" global ratings agencies as debt burdens weigh on many African economies.

The UAE telecommunications group e& has reverted its name to Etisalat in an effort to return to its "roots" following its 50th anniversary.

Dubai Retail, under Dubai Holding Asset Management, has unveiled Skylight Mall, a shopping destination set to open on Al Khail Road in 2027.

Her Highness Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture and Arts Authority, has inaugurated the 30th edition of Beautyworld Dubai at the Dubai World Trade Centre.

DP World has secured a 10-year extension to its concession to operate the multipurpose terminal at Angola’s Port of Luanda, extending the term through to 2051.

The UAE's Economic Partnership Agreement with the Eurasian Economic Union (EAEU) has officially come into force, opening up preferential access to markets in Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia.

Fitch Ratings has affirmed Ras Al Khaimah’s long-term credit rating at A+ and raised its economic growth forecast for 2026.

Group of Seven (G7) countries agreed on Friday to release 100 million barrels of diesel and crude oil from emergency reserves and pledged to refrain from energy export restrictions after pressure from US President Donald Trump.

Altair-1, the first commercial satellite built in the UAE, has successfully launched into orbit, marking a major milestone for the country's growing private space sector.

The Ministry of Finance has announced the official listing and commencement of secondary-market trading for its second five-year Sovereign Retail T-Sukuk on Nasdaq Dubai on Friday, following the successful completion of subscription, allocation, and settlement.

Abu Dhabi has announced plans to invest AED 300 million to upgrade its public transport system with smart tech.

A US judge has entered an order on Wednesday allowing Paramount to close its $110 billion acquisition of Warner Bros., ending a months-long holdup, as the company named Mattel's Ynon Kreiz as co-CEO to help run the combined business.

Alphabet's Google has announced a new top-tier artificial intelligence model to anchor its Gemini 4 generation of models on Wednesday in a fresh bid to catch up to rivals Anthropic and OpenAI in the AI race.

The UAE General Budget Committee has reviewed the draft federal budget framework for the 2027-2029 fiscal period as part of preparations for the government's next medium-term strategic plan.

Aldar and Arada have signed a AED 15 billion partnership to develop premium residential communities in Abu Dhabi's Yas Island and Seih Sdeirah.

In his capacity as Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, has issued a decree forming the Board of Directors of the Investment Corporation of Dubai (ICD).

Eleven agreements and memoranda of understanding were signed as the inaugural Al Ain Future Business Forum concluded at ADNEC Centre Al Ain.

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.