Business News

Australia will triple fees on purchases of existing homes by foreign buyers, Treasurer Jim Chalmers said on Sunday, as part of measures aimed at increasing the supply of affordable housing.

Azerbaijan looks set to host next year's COP29 climate change summit after winning backing from other Eastern European nations on Saturday.

COP28 is an ideal opportunity to implement the commitments and goals of the Paris Agreement and to unite efforts and voices to ensure a sustainable future for all individuals and communities.

Europe reached a provisional deal on landmark European Union rules governing the use of artificial intelligence, including governments' use of AI in biometric surveillance and how to regulate AI systems such as ChatGPT.

More than 10 million people have signed up for X in December, X CEO Linda Yaccarino said in a post on the social media platform on Thursday.

Dubai Financial Market (DFM) on Thursday welcomed the successful listing of Dubai Taxi Company.

Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman have urged all OPEC+ countries to join the group's agreement on output cuts, saying it would serve the interests of the global economy.

Abu Dhabi Airports has won the coveted "World's Leading Airport Operator 2023" honour at this year's World Travel Awards ceremony.

The Ruler of Ras Al Khaimah has issued a directive to reduce commercial licensing fees by 25 per cent for small and medium enterprises (SMEs) in the southern regions of the emirate.

Etihad Airways and TAP Air Portugal have agreed a strategic codeshare, unlocking enhanced connectivity for the passengers of both airlines on a range of destinations.

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, said the city has emerged as a platform for sustainability and innovation thanks to the array of events it hosts annually.

The UAE banking sector has announced a landmark commitment to collectively mobilise AED 1 trillion ($270 billion) in sustainable finance by 2030.

Music streaming giant Spotify said on Monday that it will lay off around 1,500 employees, or 17 per cent of its headcount, to bring down costs, after letting 600 of its staff go in January, and 200 more in June.

UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and leaders of Brazil and Paraguay, Luiz Inácio Lula da Silva and Santiago Peña, witnessed the signing of a joint declaration for cooperation on the Bi-Oceanic Corridor.

The UAE will implement an additional voluntary cut in its oil output by 163,000 barrels per day (bpd) from the start of January to the end of March, in coordination with some OPEC+ countries.

Dubai Taxi Company (DTC) has announced its initial public offering (IPO) has raised AED 1.2 billion, after the share price was set at AED 1.85, the top end of the previously announced range.

A new rail link will connect Abu Dhabi City to Al Dhannah (formerly known as Ruwais) in Al Dhafrah region, under an agreement between Etihad Rail and ADNOC.

Dubai Holding has announced its participation as Principal Pathway Partner at the 28th meeting of the United Nations Climate Change Conference (COP28).

Sheikh Hamed bin Zayed Al Nahyan, Managing Director of the Abu Dhabi Investment Authority (ADIA), has discussed business relations between the UAE and the UK with senior UK Government officials at the Global Investment Summit in London.

American companies secured over $128 billion worth of deals at the Dubai Airshow, including one worth $52 billion between Emirates Airline and Boeing.

DP World's Jebel Ali Free Zone (Jafza) has successfully completed Phase 1 of Jafza Logistics Park, a multi-tenant warehousing facility developed in collaboration with Group AMANA.

UAE nationals, who've started work "for the first time" from October 31, will be covered under the new pension law, authorities have announced.

Gulf Air said its data was breached on Friday but its operations and vital systems were not affected, Bahrain's news agency BNA reported on Saturday.

Dubai Financial Market (DFM) will conduct a pilot programme for trading carbon credits, scheduled to debut at COP28. 

Dubai International Chamber, one of the three chambers operating under Dubai Chambers, has attracted a total of 92 businesses, including 15 multinational companies and 77 SMEs, to the emirate between January and September 2023.

Emirates has become the world’s first airline to operate an A380 demonstration flight using 100% Sustainable Aviation Fuel (SAF).

OpenAI on Tuesday said it reached an agreement for Sam Altman to return as CEO days after his ouster, capping frenzied discussions about the future of the startup at the center of the artificial intelligence boom.

Australia will give cyber health checks for small businesses, increase cyber law enforcement funding and introduce mandatory reporting of ransomware attacks under a security overhaul announced on Wednesday after a spate of attacks.

Dubai Taxi Company has announced the price range for the sale of its shares and the start of the subscription period for its initial public offering (IPO).

PureHealth Holding has announced its intention to proceed with an initial public offering (IPO) and subsequently list its shares on the Abu Dhabi Securities Exchange in December, subject to approvals.

Visitors heading to Paris for next year's Olympics face major accommodation problems amid soaring hotel prices and a crackdown on rentals of tourist apartments.

The Dubai Financial Market (DFM), Nasdaq Dubai and Shanghai Stock Exchange (SSE) have signed a Memorandum of Understanding (MoU) to strengthen ties between the capital markets of Dubai and China.

Dubai Chamber of Commerce attracted a total of 48,616 new member companies between January and September of 2023.

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.