Home News Archive by category Business (Page 11)

Business

Get the latest Business news from the Middle East. Stay informed on market trends, investments, and economic developments in 60 characters.

Multinationals
Business Oman

Oman levies 15% tax on multinationals

Effective January 1, 2025 Oman—the oldest independent state in the Arab world—introduced a minimum top-up tax (DMTT) of 15% on multinational companies effective January 1, 2025, following a royal decree issued by Sultan Haitham bin Tariq. The tax applies to multinationals with consolidated annual revenue exceeding $779.2 million. However, after a recent meeting of its […]
UAS
Aviation Business

UAS adds a Bombardier Global Express to fleet

Arnold Pinto
Eye on regional charter market UAS International Trip Support (UAS), a global leader in trip support solutions, has added a Bombardier Global Express to its air charter fleet. The debut marks the company’s entry into aircraft sales and management services, strengthening its position in the Middle East’s growing charter market. The Bombardier Global Express, known […]
Work
Business UAE

Edge Group Achieves Great Place to Work certification

On company’s 5th anniversary Abu Dhabi-based Edge Group’s Corporate division has been officially recognised as a Great Place to Work. This certification celebrates a commitment to creating a dynamic, supportive, and innovative workplace. The milestone coincides with the company’s fifth anniversary, highlighting its growth and the strong workplace culture
Order
Aviation Business

Air India places order for 100 Airbus aircraft

Arnold Pinto
Backed by services contract Air India, owned by India’s Tata Group, has revealed a new order for 100 Airbus aircraft, including 10 A350 widebody models and 90 single-aisle A320 aircraft. The airline has also chosen Airbus’ Flight Hour Services-Component (FHS-C) to support its growing fleet of A350 aircraft. This order, now included in Airbus’ 2024 […]
Adoption
Business UAE

UAE businesses are prioritising AI adoption

According to ServiceNow research According to a new AI Maturity Index Report by ServiceNow, in collaboration with Oxford Economics, businesses in the United Arab Emirates (UAE) are making significant strides toward AI adoption. The report reveals a widespread commitment to artificial intelligence (AI) as a key driver of business transformation. Over 80% of companies have
Motors
Automotive Business

Nissan, Honda, Mitsubishi Motors seek tie-up

Arnold Pinto
As global automotive industry evolves Nissan Motor Company, Honda Motor Company, and Mitsubishi Motors Corporation have signed a memorandum of understanding (MoU) to explore the possibility of Mitsubishi Motors’ involvement in the proposed business integration. This is a groundbreaking move to address the rapidly evolving global automotive industry. Establishing a joint
Elon
Business Tech

Oman acquires a stake in Elon Musk’s xAI

As the nation ups its digital strategy Oman Investment Authority (OIA), the sovereign wealth fund of the Arabian Gulf country, has taken an undisclosed stake in Elon Musk’s artificial intelligence (AI) company, xAI. This is the latest in a series of high-profile partnerships with the American billionaire entrepreneur. Musk founded xAI to develop advanced AI […]
CreateAI
Business Entertainment

TuSimple rebrands as CreateAI

News Editor 2
Reveals Gen AI breakthrough TuSimple Holdings, a global leader in artificial intelligence, has rebranded to CreateAI. The shift marks the company’s renewed focus on revolutionising the animation and video game industries using its proprietary AI technologies and integrated content development platform. The company also revealed significant advancements in generative AI
Revibe
Business

Revibe raises $7m to grow its refurbished consumer tech business

Emerging markets on the radar Dubai-based Revibe, a specialist in guarantee-backed refurbished consumer electronics, has reached a significant milestone by closing its Series A funding round with $7 million. ISAI and Resonance co-led the round, which included key investors Kima Ventures and Edouard Mendy. This follows a year of impressive revenue growth, positioning Revibe
Team
Appointments Business

Nissan reshuffles senior management team

Arnold Pinto
To revive ailing automaker Nissan Motor Corporation has announced a significant leadership shake-up, appointing a new executive team effective January 1, 2025. The moves are part of the Japanese company’s broader turnaround strategy, designed to restructure operations and improve efficiency and resilience. These changes aim to respond swiftly to current challenges and
RAKIS
Business

RAKIS 2024 concludes after 2 eventful days

Focus on investment opportunities The inaugural Ras Al Khaimah Investment and Business Summit (RAKIS), held from December 10 to 11, 2024, solidified the emirate’s commitment to long-term economic growth. The summit, a key forum for investment and innovation, offered thought-provoking discussions on various topics, from the crucial role of public-private partnerships to
SAR
Business Space

Space42 and ICEYE partner to build SAR satellites in UAE

Arnold Pinto
Boosting nation’s EO programme Space42, a UAE-based spacetech company, and ICEYE, a Finland-headquartered global leader in Synthetic Aperture Radar (SAR) satellite operations, have signed a joint venture agreement to manufacture SAR satellites in the UAE. The venture builds upon the two entities’ collaboration, which included the launch of the UAE’s first SAR