UAE

NEWS DESK

Non-Residents Account for 35% to 40% of Total Mortgage Bookings in the UAE

News Desk 20/04/2024

The UAE’s mortgage market is experiencing a transformative surge, driven by the substantial interest from non-residents. Constituting between 35% to 40% of overall mortgage bookings, non-residents, hailing primarily from the GCC, UK, US, Germany, and India, are increasingly opting for

NEWS DESK

Best’s Commentary: UAE Insurers Adapt to Changing Weather Trends

News Desk 18/04/2024

AM Best expects the recent extreme weather that caused severe flash flooding in the United Arab Emirates (UAE) to prompt swathes of claims for motor, property and business interruption insurers in the region. However, a new Best’s Commentary, “UAE Insurers Adapt to Changing Weather Trends as Latest Flooding Costs Mount,” suggests low insurance penetration,

NEWS DESK

Emirates Islamic concludes debut USD 500 million financing facility

News Desk 18/04/2024

Emirates Islamic, one of the leading Islamic financial institutions in the UAE, has announced the successful conclusion of its debut USD 500 million syndicated Financing Facility. The landmark three-year term financing facility is the first of its kind raised by a Shariah-compliant financial institution. Structured as a Commodity Murabaha term financing facility in

Banking Finance UAE

All About The Best Cash-Back Credit Cards In The UAE

News Editor 2 17/04/2024

Learn About The Key Features And More Cash-back credit cards can be particularly appealing to consumers in the UAE because they offer a straightforward way to save money on daily expenses. Moreover, consumers can enjoy the excitement of flexibility in redeeming and using their earnings, making them even more appealing. Driven by significant market size, […]

UAE

Unsettled Weather Grips The UAE

PR News Desk 16/04/2024

Low-Pressure System Sweeps In UAE residents and visitors should brace for turbulent weather over the next 48 hours as heavy rainfall and thunderstorms have hit the Arabian Gulf country. A low-pressure system affecting neighbouring Oman is also impacting the UAE, albeit with varying intensity due to differing topographies. Oman has been experiencing unstable weather

NEWS DESK

NewTech Insurance Brokers expands insurance services for individuals and businesses

PR News Desk 15/04/2024

NewTech Insurance Brokers, a leading licensed and regulated insurance brokerage powerhouse in the UAE, has expanded the scope of its health insurance offerings in response to the approved implementation of a mandatory health insurance system in all seven Emirates, effective January 1, 2025. The company has also opened a new office to better serve customers […]

Aviation Tech UAE

Archer Aviation And Falcon Aviation To Set Up Vertiport Network In UAE

Arnold Pinto 15/04/2024

Ahead Of eVTOL Launch By 2025 California-headquartered Archer Aviation and Abu Dhabi-based Falcon Aviation have signed a partnership to develop a vertical port network in Dubai and Abu Dhabi, the UAE’s two largest cities. The twin-city network will be a hub for Archer’s revolutionary Midnight electric vertical take-off and landing (eVTOL) aircraft. This

Corporate UAE

ALEC Group Donates 5,000 Care Packages For Ramadan

PR News Desk 11/04/2024

Needy Communities In Gaza And UAE Benefit The Dubai-based ALEC Group has donated 5,000 care packages valued at AED140,000 to a Ramadan initiative in the UAE involving Emirates Red Crescent and SmartLife Foundation. ALEC Group employees donated to the initiative, which benefited vulnerable populations in Gaza and labourers in Dubai. The employees’ efforts, combined with

NEWS DESK

His Excellency Sheikh Sultan bin Tahnoon Al Nahyan on the occasion of Eid Al Fitr

PR News Desk 09/04/2024

On the occasion of Eid Al-Fitr, I extend my warmest greetings to all our frontline heroes across every sector. Your unwavering commitment to your vital roles, ensuring the safety, health, and well-being of our communities, truly marks you as the pride of the UAE. Your continuous efforts and achievements may sometimes pass unseen, but they […]

NEWS DESK

Join a Night of Light and Hope at The Gulf for Good Gala Ball

PR News Desk 05/04/2024

Gulf for Good, the renowned non-profit organisation in the UAE that supports charitable projects around the world, has just announced June 1st as the date for its 2024 Annual Charity Gala Ball. This is an opportunity for individuals and businesses to contribute to meaningful causes and make a difference in the lives of children around […]

NEWS DESK

Arçelik Completes Acquisition of Whirlpool’s Moroccan and UAE Subsidiaries

PR News Desk 05/04/2024

Today marks the completion of the transaction for Arçelik, Beko’s parent company, to acquire full ownership of Whirlpool’s Middle East and North Africa (MENA) operations. Through this acquisition, Arçelik now owns Whirlpool’s UAE and Morocco entities, and manages Whirlpool’s MDA business operations in the MENA region. With the integration of Whirlpool’s MENA

NEWS DESK

Emirates Development Bank delivers record increase in industrial GDP impact

PR News Desk 04/04/2024

Emirates Development Bank (‘EDB’ or the ‘Bank), the key financial engine of economic development and industrial advancement in the UAE, has unveiled a record increase in total financing since the launch of EDB’s strategy in 2021 to AED 10.4 billion, bringing its cumulative contribution to the nation’s industrial GDP impact to AED4.9 billion.  The milestone […]

NEWS DESK

UAE solidifies position as a top global investment hub

PR News Desk 04/04/2024

In an impressive testament to its economic strategy, the United Arab Emirates has made a significant leap to the 8th position on Kearney’s 2024 Foreign Direct Investment Confidence Index® (FDICI), up from 18th place in 2023, and now stands 2nd on the Emerging Market Index after China. The FDICI, now in its 26th iteration, continues […]

NEWS DESK

Prominent Hong Kong Higher Education Delegation to Visit UAE

PR News Desk 04/04/2024

A high-level delegation from The Hong Kong University of Science and Technology (HKUST) – a world-class research-intensive university that focuses on science, engineering, business, as well as humanities and social science, will visit the UAE from April 15th – 18th 2024. Led by the University President, the delegation aims to establish relationships with the UAE’s

NEWS DESK

Statevolt to Launch a $3.2 Billion State-of-the-Art Battery Gigafactory in Ras Al Khaimah

PR News Desk 04/04/2024

Statevolt, a global leader in green industrialization, is today announcing its plans to construct a new state-of-the-art, technology-agnostic battery cell Gigafactory in Ras Al Khaimah, UAE. With a capital expenditure of $3.2 billion (USD), Statevolt Emirates, as the UAE venture will be known, will mark a significant milestone in advancing technological innovation in the

NEWS DESK

Fitch affirms Emirates Development Bank’s ‘AA-‘ credit rating with a stable outlook

PR News Desk 03/04/2024

Fitch Ratings has affirmed Emirates Development Bank’s (“EDB” or “the Bank”) at ‘AA-‘credit rating, demonstrating the Bank’s strong creditworthiness due to its strategic importance to the UAE’s national agenda. The rating also comes with a ‘stable’ outlook, indicating confidence in EDB’s long-term ability to maintain its financial stability. In its report, Fitch Ratings

NEWS DESK

Zayed University expands academic offering for the new academic year

PR News Desk 03/04/2024

Zayed University (“ZU”) has announced a major expansion of its academic offering starting this Fall, in line with the UAE’s national agenda. The additional programs, scheduled to commence at the beginning of the next academic year, encompass a wide range of disciplines, showcasing ZU’s commitment to enhancing its offerings in priority sectors identified

Events UAE

Al Haramain Group Hosts Iftar For 5,000 People In Ajman

PR News Desk 03/04/2024

Group Subsidiary Exports Perfumes To 70 Countries Al Haramain Group, a leading fragrance manufacturer based in Ajman in the United Arab Emirates, recently hosted one of the most significant Ramadan iftar events ever held in the UAE in 2024. Held outdoors at the group’s commercial premises in Ajman emirate, the event was attended by 5,000 […]

NEWS DESK

Microsoft Surface Innovation Hub launched at Redington Office in UAE

PR News Desk 02/04/2024

Microsoft, in collaboration with leading technology distributor Redington, proudly inaugurated the Microsoft Surface Innovation Hub at Redington HQ in Dubai. With an emphasis on collaboration, the Microsoft Surface Innovation Hub at Redington is positioned as a hub for decision makers to explore and experience the power of Surface and see how it can be integrated […]

Space

MBRSC And HCT Unveil Cubesat Collaboration

Arnold Pinto 02/04/2024

HCT-SAT Is Due For Launch By Yearend The Dubai-headquartered Mohammed Bin Rashid Space Centre (MBRSC) and the Dubai-based Higher Colleges of Technology (HCT) have begun work on their HCT-SAT 1 Earth-observation CubeSat project. Cubesats are miniature satellites used exclusively in Low Earth Orbit (LEO). HCT students from diverse academic backgrounds are currently stationed