The United Arab Emirates (UAE) generates between AED 10 and 11 billion annually through indirect taxes, constituting a substantial portion of the federal budget, which totals approximately AED 65 billion. Younis Haji Al Khoori, Undersecretary of the Min...

JJJ, a new hedge fund established by former Moore Capital executives, has made a significant move into Dubai’s thriving financial market, joining a growing list of hedge funds that are increasingly eyeing the Middle East for expansion. The firm’s decision...

By Saifur Rahman The International Monetary Fund (IMF) on Wednesday said, it will grant US$645 million to support Bangladeshi economy, about US$105 million less than the US$750 million sought by Bangladesh Government to overcome current economic challenge...

US investors are closely watching the performance of the Gulf Cooperation Council (GCC) countries, with expectations that they will soon surpass Latin America in key global equity indices such as MSCI and FTSE. As geopolitical stability, economic diversif...

FIFA confirmed Saudi Arabia as the host of the 2034 Men’s World Cup on Wednesday, marking a historic moment for both the nation and the Middle East. The announcement was largely a formality, as Saudi Arabia was the sole bidder for the prestigious tourname...

UAE President Sheikh Mohamed bin Zayed Al Nahyan and Saudi Crown Prince Mohammed bin Salman held a high-level meeting to further solidify their countries' bilateral relations, underscoring the enduring strength of their partnership. The meeting comes as b...

Dubai’s real estate sector is witnessing a surge in competition as new developers enter the market, driving up supply and introducing diverse offerings. With the demand for luxury properties continuing to soar, a new generation of developers is working to...

Heineken, the Dutch brewing giant, is preparing to open its first large-scale brewery in Dubai, a significant milestone in the evolving beverage industry within the Gulf Cooperation Council (GCC). This development, expected to materialize in 2024, will ma...

The UAE has officially launched its national lottery, marking a historic moment in the country's gaming landscape. Nearly four months after the announcement, the first and only regulated lottery operation in the UAE is now live, offering residents the cha...

A U.S. federal probe is scrutinizing JPMorgan Chase & Co.'s dealings linked to a hedge fund with alleged connections to the Iranian oil trade, raising concerns over compliance with sanctions and anti-money laundering regulations. The investigation, sp...

A milestone decision has been reached by Gulf Cooperation Council (GCC) financial regulators, setting a framework for streamlined fund passporting within the bloc. This move is poised to enhance market integration and facilitate cross-border investments a...

By Saifur Rahman Dubai’s state-owned publicly-listed utility Dubai Electricity and Water Authority (DEWA), reported a 6.2 percent growth in revenue reaching a record US$6.4 billion (Dh23.5 billion) and net profit of US$1.5 billion (Dh5.5 billion) in the f...

Dubai is positioning itself as a pivotal player in the global gold market, leveraging its unique geographic location, robust infrastructure, and forward-thinking policies. The city has seen a surge in gold trade activity, propelled by geopolitical shifts,...

Mergers and acquisitions (M&A) activity in the Middle East and North Africa (MENA) region has been notably strong in 2024, with the UAE and Saudi Arabia emerging as the dominant players, driving a significant share of the regional deal flow. A combina...

The Abu Dhabi Securities Exchange (ADX) has reached a historic milestone, nearing a valuation of $1 trillion, driven by strategic investments from key players like Sheikh Tahnoon bin Zayed Al Nahyan. As one of Abu Dhabi's deputy rulers and the UAE’s natio...