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  • Major Banks Expanding in Saudi Arabia
     

    “We’d be crazy to limit ourselves to a handful of bankers when we can see oil prices are going to sustain the Saudi economy for the foreseeable future,” Rory Gilbert, the head of Middle East and North Africa at London-based Barclays’s wealth management unit, said in an interview this week in Dubai. “In four or […]

     
  • Saudi tops in job creation in GCC
     

    The Gulf region continued to create jobs despite the impact of Arab Spring in 2011 with the regional powerhouse Saudi Arabia topping the list followed by Qatar and Oman, according to a new survey. The oil and gas industry, healthcare and retail sectors enjoyed the largest headcount expansion in 2011, while banking and construction fared the […]

     

MUST-READS

  • Roman Abramovich Eyes Sanction-Free Dubai Property as Russians Flock to UAE

    “In Dubai there’s an old saying that goes: when the region does well, we do well, but when there’s a crisis, we do really well,” said Chirag Shah, the founder of the consultancy 1 International FinCentre Associates, who was previously the chief strategy and business development officer at Dubai’s financial free zone, speaking broadly about the city’s ability to navigate global upheaval from wars to politics to the coronavirus pandemic.

  • Meta opens Middle East headquarters in Dubai

    US-based Meta, formerly Facebook, has opened its regional headquarters serving the Middle East and North Africa region in Dubai Internet City. Dubai Crown Prince Hamdan bin Mohammed bin Rashid al-Maktoum opened the firm’s new regional headquarters, which will accommodate up to 100 employees.

  • Dubai adopts first law regulating virtual assets

    The Dubai Virtual Asset Regulation Law is aimed at creating an advanced legal framework to protect investors and provide international standards for virtual asset industry governance that will promote responsible business growth in the emirate, Sheikh Mohammed said in a statement.

  • How Dubai Could Undermine Sanctions on Russian Oligarchs

    At least 38 businessmen or officials linked to Mr. Putin own dozens of properties in Dubai collectively valued at more than $314 million, according to previously unreported data compiled by the nonprofit Center for Advanced Defense Studies. Six of those owners are under sanctions by the United States or the European Union, and another oligarch facing sanctions has a yacht moored there. For now, they can count themselves lucky.

  • The Middle East already has a crypto hub, and it’s not Dubai

    By accepting cryptocurrencies as an official method of payment, the CBB allows established banks to work with exchanges so that customers can withdraw and deposit their money easily. In most countries, digital assets fall under the jurisdiction of securities regulators, not central banks, and only El Salvador recognizes a cryptocurrency — bitcoin — as legal tender. The CBB's approach contrasts with the Central Bank of the United Arab Emirates (CBUAE), which doesn't recognize it as a means of payment.

  • Dubai Expo: Chance for change in Middle East and North Africa

    This is the first time a world fair has been held in the Middle East and North Africa, and with similar events having heralded great shifts in technological advancement, improved international relations, and increased trade, culture and tourism, many hope the current exhibit will also positively impact the MENA region.

  • Dubai plans to attract 50 multinational companies as part of global hub push

    Dubai plans to attract 50 multinational companies within three years, the emirate's government media office said on Wednesday citing a statement from the Dubai International Chamber. The plan is part of a three-year strategy adopted by the chamber to boost the emirate's status as a global trade hub, it said, adding that it will also support 100 Dubai-based companies with international expansion.

  • Israel warns of crisis with UAE over Dubai aviation security dispute

    Direct El Al , Israir and Arkia connections from Tel Aviv to Dubai were among the fruits of a landmark 2020 deal establishing ties between Israel and the UAE. Hundreds of thousands of Israelis have visited the UAE commercial hub since. But Israel's Shin Bet security service has voiced concerns - which it did not publicly detail - about arrangements at Dubai International Airport read more and said the three national carriers would stop operating there if these went unresolved.

  • Houthis threaten to attack Dubai Expo if Yemen war not halted

    The Dubai Expo has come to epitomise the oil-rich nation's position as a tourism and commercial hub. The country invested $7bn in the event and aims to draw in 25 million visitors over the course of a year, as it looks to reboot its economy after the coronavirus pandemic.

  • Saudi Arabia Pavilion at Expo 2020 Dubai Celebrates ‘Year of Coffee’

    The ‘Year of Saudi Coffee’ initiative made its way to the Saudi Pavilion at Expo 2020. It began holding events, activities, and workshops for visitors of all ages, as well as live performances in the Pavilion’s outdoor courtyard on Tuesday and will continue until January 29.