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Dubai and Abu Dhabi vie for global elite in search of wealth sovereignty

Dubai and Abu Dhabi compete fiercely to draw wealth managers, with regulatory appeal and sovereign funds turning the UAE into a rising financial hub alternative.

Michigan Muslims back Trump for peace, values, and secure border

Michigan Muslims endorse Donald Trump for his peace-oriented and pro-family policies, marking a shift in political support in a key swing state.

Dubai’s month-long #ZayedAndRashid toast kicks off November 3

Dubai launches the #ZayedAndRashid campaign to honour UAE’s founding fathers and celebrate national events with vibrant festivities, from cultural showcases to concerts and fireworks. The month-long celebrations run from 3 November to 2 December.

Saudi Arabia tests hydrogen-powered taxis in green shift

Saudi Arabia pilots hydrogen taxis, a move towards emission-free, sustainable urban mobility aligning with Vision 2030.

ADNOC moves to enter European chemicals market with €14.7bn Covestro deal

ADNOC advances in Europe with a €14.7 billion Covestro takeover, emphasising low-carbon ammonia via Fertiglobe’s global platform.

Qazi Faez Isa’s election as Middle Temple Bencher strengthens Pakistan’s global legal presence

Qazi Faez Isa becomes the first Pakistani elected as a Middle Temple Bencher, marking a new era for Pakistan’s influence in international law.

Sheikh Zayed Festival kicks off next week: drone shows, record-breaking fireworks

The Sheikh Zayed Festival returns to Abu Dhabi, offering a diverse mix of cultural events, international showcases, and immersive experiences. Expect world-record fireworks and a unique look at heritage and innovation.

Diwali 2024 in Dubai: your 2024 guide to lights, culture, and celebration

Here's how you can celebrate Diwali in Dubai with vibrant fireworks, lively markets, and performances that will light up your night.

Qantas says yes to 25% Qatari stake in Virgin Australia

Qantas is open to Qatar Airways’ 25% stake in Virgin Australia, fostering more competition as both airlines aim to strengthen their networks. Qantas’ focus remains on ultra-long-haul routes to Europe, bypassing the need for Gulf stopovers.

Abu Dhabi’s Mubadala Capital secures $3.1bn for middle-market investments

Abu Dhabi's Mubadala Capital raises $3.1 billion for its private equity fund, targeting middle-market companies while expanding its global investment footprint. Recent acquisitions include Fortress Investment Group and Bugaboo.

Qatar’s economic power grows with LNG boost and diverse investments

UAE partners with IMF, vows contribution to poverty alleviation, climate funds

The UAE has signed two agreements with the IMF, contributing to funds aimed at poverty reduction and climate resilience.

CBI books record AED529mn in FY2024 profits as loans surge and liquidity improves

CBI reports record profits for 2024, driven by strong loan growth, operational efficiency, and financial resilience.

IMF pins UAE economic growth at 5.1% for FY2025

The UAE's economy is set to grow by 5.1% in 2025, driven by strong non-oil sectors and structural reforms, according to the IMF. Diversification and public investment are key growth factors.

Saudi Arabia ramps up agricultural output with $10bn inflow to private sector FDI

Saudi Arabia secures $9.8B private investment to drive agriculture growth under Vision 2030, with tech and sustainability focus. Incentives like loans and infrastructure improvements will enhance food security in the Kingdom.

Financiers flock to Riyadh for ‘Davos in the Desert’ FII conference

Financiers will gather in Riyadh from October 29 to 31 for Saudi Arabia's 8th Future Investment Initiative. Vision 2030 needs urgent foreign investment amidst tighter budgets, as Saudi eyes foreign investment.

Sheikh Hamdan urges UAE to boost investments with flexible policies

The UAE is accelerating efforts to cement its status as a global investment hub, driven by innovation and flexible policies. Foreign direct investment has surged by 35%, reflecting the country’s growing economic influence, says Dubai crown prince Sheikh Hamdan.

UAE mosques to install EV charging stations in governmental clean energy project

UAE mosques will soon have EV charging stations as part of a new energy efficiency project. The initiative supports the country’s green mobility and sustainability goals.

Imran Khan’s downfall apt; Khan caused mayhem in Pakistan, says British newspaper

Imran Khan is a symbol of chaos in Pakistan, not a political martyr. He came to power with military support and adopted authoritarian behavior, using Islamic values and anti-Western sentiments for political gain. Disqualifying him from the Oxford Chancellorship is the right decision, according to a British newspaper.

Dubai’s aviation industry set to add $53 billion to GDP by 2030

Dubai’s aviation sector will contribute nearly one-third of GDP by 2030 but faces hurdles due to Boeing’s aircraft delays. Emirates is scaling up Airbus orders to meet demand.

UAE tops MENA bond market growth, drives sustainable investments: LSE Deputy CEO

LSE Deputy CEO highlights the UAE's dominance in MENA bond markets, driven by its leadership in sustainable investments. Strategic partnerships are key to this success, propelling growth in infrastructure and green finance sectors.

Saudi Arabia secures over $2bn through multi-tranche sukuk offering

Saudi Arabia raises SAR 7.8 billion from a multi-tranche sukuk issuance, continuing its commitment to Islamic finance. The issuance spans five tranches with the largest maturing in 2039.

Emirates named world’s best airline, dominating premium services and entertainment

Emirates named world’s best airline, dominating in inflight entertainment and premium services. Awarded 19 accolades, including Best First Class and Premium Economy, highlighting its luxury offerings and loyalty programme.

Qatar Airways debuts world-first free Starlink Wi-Fi on Boeing 777 flights

Qatar Airways launches the world's first Boeing 777 flight equipped with SpaceX's Starlink internet, offering passengers free, high-speed connectivity. The airline plans rapid fleet-wide roll-out, marking a leap in in-flight passenger experience.

Arada’s seafront residences at Dubai Harbour to feature Dubai’s longest infinity pool

Arada unveils W Residences at Dubai Harbour, offering luxury seafront living with Dubai’s longest infinity pool and world-class amenities. With stunning views of Ain Dubai, this three-tower project will redefine urban luxury.

Dubai to boost 100,000 startups with $100m Ignyte platform launch, says Sheikh Hamdan

Ignyte, Dubai's dynamic new platform, empowers startups with access to global investors, mentors, and exclusive perks, driving entrepreneurial growth. Created by the DIFC, it bridges gaps between entrepreneurs and key stakeholders in Dubai’s expanding digital economy.

Saudi Arabia eyes BeIN Sports acquisition from Qatar to expand wealth fund sports portfolio

Saudi Arabia is in talks to acquire Qatari broadcaster BeIN Sports, marking a significant potential shift in Middle East sports media. The deal is in line with the Kingdom's growing investment in sports, both regionally and globally.

Third time’s the charm

Third time’s the charm, as they say—and Nawaz Sharif seems determined to prove it. After making bold moves for peace with India in 1999 and again in 2015, he's setting the stage for another attempt in 2025. His optimism is hard to ignore, but will his latest push for dialogue finally break the cycle of rivalry?

Dubai and Abu Dhabi rank first globally in ease of entry for skilled talent, says new report

Abu Dhabi and Dubai ranked first globally for ease of entry, driven by open immigration policies that attract top talent. GCC cities thrive in services and innovation, leading economic diversification efforts.

Who is Yahya Afridi, the next Chief Justice of Pakistan?

Justice Yahya Afridi has been nominated as Pakistan’s next Chief Justice, bringing decades of legal experience and involvement in key constitutional cases. His judicial career spans from the Peshawar High Court to the Supreme Court. But who is he beyond the titles?

Saudi Aramco CEO says company “bullish” on growing Chinese oil demand

Saudi Aramco CEO Amin Nasser remains optimistic about China’s oil demand amid ongoing energy transition challenges, citing growth in liquid-to-chemical projects. Nasser emphasised the importance of a balanced energy mix for developing countries, where oil demand remains strong.

Reconstruction of historic Narowal Baoli Sahib Hindu temple begins in Pakistan after 64 years

Pakistan has begun the long-awaited reconstruction of the historic Baoli Sahib temple in Narowal, restoring Hindu worship in the city after six decades. The project fulfils a key demand of Pakistan's Hindu minority community.

GCC IPOs secure $1.7bn in Q3 for FY2024, driven by Abu Dhabi and Saudi markets

GCC IPOs raised $1.7 billion in Q3 2024, led by NMDC Energy in Abu Dhabi and several key offerings in Saudi Arabia. Q4 promises more activity with Lulu Hypermarket and Talabat set to list.

UAE’s LuLu Group launches 25% stake IPO on ADX, targeting up to $1.8bn

LuLu Group is launching a three-tranche IPO, offering 25% of its stake on the Abu Dhabi Securities Exchange starting 28 October 2024. The retail giant aims to raise between $1.7 and $1.8 billion, with plans to allocate shares to employees and pay a 75% dividend on annual profits.

Pakistan’s stock market soars as KSE100 Index surpasses 86,700 points

The strong bullish trend in the Pakistan Stock Market continues, with the 100 Index gaining over 600 points, crossing the 86,700 points mark. This surge in the stock market is primarily driven by growing investor confidence and economic stability.

Qatar Chamber cuts fees to support businesses, encourage investment

Qatar Chamber has slashed fees for services to encourage local businesses and attract foreign investment. The decision is part of Qatar’s broader strategy to promote economic diversification and strengthen its position as a regional business hub.

UAE pledges support to help Russia address Ukraine conflict during BRICS discussions

UAE and Ireland sign extradition, anti-money laundering pacts to combat organised crime

The UAE and Ireland have signed two agreements to strengthen cooperation in fighting organised crime and facilitating extradition. The treaties streamline legal processes and enhance mutual legal assistance, reinforcing their partnership in combating transnational crime.

First Abu Dhabi Bank exceeds Q3 forecasts with AED4.46bn profit despite rising impairments

First Abu Dhabi Bank (FAB) reported a Q3 profit of AED 4.46 billion, exceeding estimates due to higher revenue growth, despite a rise in impairment charges. Total assets grew to AED 1.2 trillion, reinforcing FAB’s position as the largest lender in the UAE.

Qatari economy to grow another 2% before FY2024 comes to a close, says Sheikh Tamim

Before the fiscal year closes, the Qatari economy is projected to grow another 2%, said Qatari Emir Sheikh Tamim. He highlighted Qatar's steady economic growth despite post-World Cup challenges, with future growth projected at 4.1% annually by 2025.