Business

Tesla will wind down Cybertruck production at its Texas gigafactory around mid-2027, CEO Elon Musk said on Friday, after years of persistently weak sales for a futuristic model once touted as a rival to legacy pickup trucks.

Tech-led Nasdaq has notched its deepest one-day drop since ‘Liberation Day’ in April 2025, wiping out trillions in market value on fears of more AI scrutiny, particularly on data center construction, after Democrats won big in US midterm elections.

The Emirates Group has posted a profit before tax of AED 4.1 billion ($1.1 billion) for the first six months of 2026-27, despite disruptions and high fuel prices due to the regional conflict. 

Pixar Animation Studios announced on Wednesday that veteran Jonathan Garson will become president on January 4, replacing Jim Morris, who will step back from day-to-day leadership ahead of his eventual retirement.

The final offer price for DIP Holding’s initial public offering (IPO) has been set at AED 1.12 per share following stronger investor demand.

Food security, domestic production and supply chain resilience are taking centre stage in Dubai as Gulfood Manufacturing 2026 brings together manufacturers, technology providers and industry leaders from around the world.

ADNOC Gas and its subsidiaries on Tuesday announced a five-year liquefied natural gas (LNG) supply agreement with TotalEnergies for up to 1.6 million tonnes of LNG.

Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, has stressed the need for deeper economic and commercial integration with OIC member states amid "rapid geopolitical shifts that are challenging international trade flows and supply chains".

North Korea on Tuesday dismissed as "absurd rhetoric" US allegations that it was behind a $6 billion cryptocurrency heist on the Binance platform, saying they proved Washington remained hostile towards it, state news agency KCNA said.

The inaugural Dubai Future Finance Week has brought together global financial leaders, policymakers and innovators to discuss the trends shaping the future of the financial industry.

Four agreements were signed between Abu Dhabi-based entities and OpenAI, spanning government, energy and investment sectors, as His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, held talks with Sam Altman.

The 42nd edition of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) has opened, bringing together global leaders from the energy, technology, finance and industrial sectors.

Marks and Spencer is expanding its presence in the UAE, with its largest foodhall outside the UK opening at Dubai Festival City this December.

His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, and President of the Dubai International Financial Centre, has met Ronald P. O’Hanley, Chairman and Chief Executive Officer of State Street Corporation.

Binance customers have pulled $3.64 billion, or 2.1 per cent of its assets, as the world's biggest cryptocurrency exchange went back online on Sunday after hackers the FBI links to North Korea stole billions from the platform last week.

Under the patronage of His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Integrated Economic Zones Authority, Dubai Airport Freezone and Forbes Middle East will hold the first Future Growth Nexus Summit in Dubai on November 23.

Dubai Chambers has launched an Agentic AI category under the Mohammed Bin Rashid Al Maktoum Business Award.

The UAE’s Comprehensive Economic Partnership Agreement (CEPA) with the Democratic Republic of Congo has officially come into force, opening up new opportunities for trade and investment between the two countries.

Crypto exchange Binance said on Saturday it has been able to replace 90 per cent of the amount stolen after a record $6.3 billion hack of its platform, by using company money to buy new tokens.

Binance, the world's largest cryptocurrency exchange, said a security breach had resulted in an estimated $6.3 billion impact that analysts said could amount to the biggest crypto heist ever and might make investors rethink the risks of owning digital assets.

The Dubai Financial Market (DFM) has reported a total traded value of AED162 billion so far in 2026, up by 22 per cent.

Her Highness Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture and Arts Authority, has met South Korean ministers, senior government officials and business leaders during a visit to Seoul aimed at strengthening cooperation across key sectors.

UAE Minister of Foreign Trade Dr. Thani Bin Ahmed Al Zeyoudi expects more economic deals to be fast-tracked with other countries after signing an historic Comprehensive Economic Partnership Agreement (CEPA) with Canada.

Chief Executive Officer (CEO) of Primark Eoin Tonge said stores in the UAE are among the top 10 strongest performers worldwide, with sales exceeding initial expectations.

TECOM Group has announced a 11 per cent revenue growth reaching AED 2.3 billion in the first nine months of 2026, with a net profit exceeding AED 1.2 billion, marking an 10 per cent year-on-year increase.

Apple CEO John Ternus unveiled the company's first touchscreen MacBooks on Wednesday, abandoning a long-held aversion to the technology as it caps a burst of product launches ahead of the holiday shopping season.

His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi has witnessed the signing of the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Canada during his official visit to the country.

Dubai Taxi Company (DTC) has announced the renewal of their strategic agreement with National Taxi and Hala for a further five years.

DIP Holding, owner of Dubai Investments Park, has announced an offer price range between AED 1.10 and AED 1.15 per share, as it begins subscription period for its initial public offering (IPO) on the Dubai Financial Market (DFM) on Tuesday.

The UAE financial markets have recorded strong performance during the first nine months of 2026, with number of companies licensed by Capital Market Authority rising 43 per cent and the combined market capitalisation of ADX and DFM touching AED 3.7 trillion.

The UAE and Benin exchanged a Comprehensive Economic Partnership Agreement on Sunday aimed at significantly expanding trade and investment between the two countries.

Dubai Customs processed 1.36 million applications for customs deposit refunds in the first half of 2026, up 3.6 per cent from the same period last year.

ADNOC announced on Sunday more than AED 60 billion in local manufacturing opportunities through to 2030, alongside changes to its procurement and supplier systems.

Bids for billionaire Mukesh Ambani's first IPO in 20 years topped $77 billion on Friday, making Jio Platforms India's most subscribed stock offering as it surpassed the 2008 issue of Reliance Power, part of his brother Anil's group.

Sales of Apple's first folding phone, the iPhone Duo, began on Friday, with market watchers betting on whether the device can reinvent the small foldables market in the same way the iPhone did for smartphones.

Microsoft researchers say an AI tool that diagnoses patients step by step, as doctors do, was more than twice as accurate as general physicians at solving complex medical cases, according to a study published on Thursday in Science.

The UAE and Greece have announced 18 agreements and commercial partnerships worth a total of €12.75 billion, strengthening economic and investment cooperation.

The UAE has announced plans to invest an additional €15 billion under its joint investment initiative with Greece, strengthening their long-term economic and strategic partnership.

The UAE has climbed six places to rank 10th globally in the 2026 Government Support Index, achieving its target of entering the world’s top 10.

Jio Platforms' $3.2 billion IPO was fully subscribed in less than two hours of public bidding on Wednesday, as investors flocked to India's largest share sale and the first from billionaire Mukesh Ambani's Reliance in two decades.

Dubai Municipality will assume responsibility for the management, operation and development of facilities at the Hatta Sustainable Waterfalls project under a new agreement with Dubai Electricity and Water Authority (DEWA).

Dubai is hosting 3,000 exhibitors from 60 countries for the 28th edition of the Water, Energy, Technology and Environment Exhibition (WETEX).

Emirati and French companies have signed a series of agreements covering energy, artificial intelligence and advanced technology at the UAE-France Business Dialogue in Abu Dhabi.

Job creation in the UAE rose by 4 per cent in the third quarter of 2026, the strongest increase in the Gulf, according to a new report from recruitment firm Cooper Fitch.

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

Nearly 250 exhibitors, brands and rehabilitation centres from around 50 countries are showcasing the latest assistive technologies and accessibility solutions at the 8th AccessAbilities Expo in Dubai.

DIP Holding, the owner of Dubai Investments Park, plans to list on the Dubai Financial Market (DFM) through an initial public offering (IPO).

A UAE delegation has wrapped up a five-day visit to China, where it looked at partnerships in clean energy, battery storage and electric transport.

The Dubai Jewellery Group (DJG) has signed a Memorandum of Understanding (MoU) with the Gold Association of Guangdong Province in China.

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence, has commended the Dubai Integrated Economic Zones Authority (DIEZ) for achieving a record trade value of AED 246 billion in the first half of 2026.

The UAE has signed the agreement to host the 2029 Annual Meetings of the World Bank Group (WBG) and the International Monetary Fund (IMF) in Abu Dhabi.

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.