Business News

US automaker Tesla has warned that it and other major American exporters are exposed to retaliatory tariffs that could be leveled in response to President Donald Trump's aggressive use of tariffs.

The Abu Dhabi Fund for Development (ADFD) has announced the launch of the “Sofitel Legend Pyramids Giza” project, a luxury five-star hotel intended to be a landmark addition to the hospitality and tourism sector in Egypt.

Ignite Energy Access, a pan-African provider of full-range distributed renewable energy (DRE) solutions, is slated to establish its global headquarters in Abu Dhabi under a strategic agreement with the Abu Dhabi Investment Office (ADIO).

The value of transactions conducted in the banking sector within the country through the UAE Funds Transfer System (UAEFTS) rose to AED 19.898 trillion during 2024, according to the latest statistics from the Central Bank of the UAE (CBUAE).

Dubai Electricity and Water Authority (DEWA) announced a contribution of AED 20 million to the Fathers' Endowment campaign, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and the Ruler of Dubai.

DP World has announced revenue grew by 9.7 per cent to $20 billion (AED 73.5 billion), and adjusted EBITDA rose by 6.7 per cent to $5.5 billion (AED 20.2 billion), with an adjusted EBITDA margin of 27.2 per cent for the year ending December 31, 2024.

The UAE's cinema industry generated AED 800 million in revenue last year, fueled by an increase in audience engagement, the Emirates News Agency said. 

Abu Dhabi saw a significant rise in the resolution of consumer complaints against commercial establishments last year, with 90 per cent of cases being settled amicably, compared to 83.4 per cent in 2023.

Etihad Airways, the national carrier of the UAE, has welcomed 1.6 million guests during February 2025, achieving an average passenger load factor of 89 per cent.

US President Donald Trump reversed course on Tuesday afternoon on a pledge to double tariffs on steel and aluminum from Canada to 50 per cent, just hours after announcing the higher tariffs, in rapid-fire moves that scrambled financial markets.

Meraas, part of Dubai Holding Real Estate, has awarded a contract worth over AED 2 billion to Arabian Construction Company for the development of the Design Quarter at Dubai Design District (d3).

The UAE has announced ISEZA, set to be the nation's first dedicated sports and entertainment business cluster within the Free Zone environment.

ADNOC and AIQ, a Presight company, have signed an agreement worth $340 million (AED 1.2 trillion) to deploy ENERGYai and associated AI solutions across ADNOC’s upstream value chain. 

A key economic adviser to US President Donald Trump on Monday pushed back on talk of recession stemming from uncertainty around his administration's tariff policies, as American consumer's fears grow and US stocks plunged.

Al Etihad Payments has announced an agreement to jointly introduce the "Jaywan- Visa" debit and prepaid cards in the UAE. The deal means customers will be able to pay securely in the UAE and at Visa's more than 150 million merchant partners across 200 countries.

Khalifa Economic Zones Abu Dhabi – KEZAD Group and its strategic client Metal Park announced the launch of the first phase of Metal Park's state-of-the-art Storage Hub in KEZAD.

President Donald Trump declined Sunday to rule out the possibility that the United States might enter a recession this year.

The Dubai Land Department (DLD) has partnered with REACH, a global real estate technology accelerator backed by the National Association of REALTORS® (NAR), to launch REACH Middle East.

The UAE’s Federal Tax Authority (FTA) has reaffirmed the need for all people who are subject to Corporate Tax to submit their Tax Registration applications for Corporate Tax no later than the end March 2025.

The UAE’s Comprehensive Economic Partnership Agreements (CEPAs) with countries worldwide are paving the way for Emirati companies to play a pivotal role in digital trade and shape the future of this sector.

The White House is considering multiple measures to restrict Chinese artificial intelligence company DeepSeek due to national security concerns.

The Fathers’ Endowment campaign, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and the Ruler of Dubai, received AED 3 million in contributions on Saturday.

Pakistan's prime minister appointed new heads for the key petroleum and privatisation portfolios on Friday- both departments seen as central to the country's recovery from an economic crisis.

DP World and Saudi Ports Authority (Mawani) have unveiled the new state-of-the-art South Container Terminal at Jeddah Islamic Port, marking a major milestone in DP World’s $800 million (AED 3 trillion) expansion and development programme.

Emirati businessman Abdul Rahim Mohammed Belghozooz Al Zarooni has contributed AED 10 million to the Fathers’ Endowment campaign, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and the Ruler of Dubai.

US President Donald Trump signed an executive order on Thursday to establish a strategic bitcoin reserve, a day before meeting with executives from the cryptocurrency industry at the White House.

The UAE and the Central African Republic have signed a Comprehensive Economic Partnership Agreement (CEPA), aimed at enhancing trade and investment opportunities.

Dubai World Trade Centre (DWTC) and Informa Group have announced a strategic partnership to create a global leader in exhibitions and event management, with operations spanning the Middle East, South Asia and Africa.

UAE-based delivery platform Talabat has acquired Instashop for $32 million (AED 117 million), an online grocery delivery marketplace, it was announced on Thursday.

The European Commission has proposed to prolong EU gas storage obligations until the end of 2027 to ensure security of energy supply and help stabilise the European gas markets.

Donald Trump told Canadian Prime Minister Justin Trudeau that he had not done enough to curb fentanyl smuggling in a phone call on Wednesday that did not appear to convince the US president to lift his punishing 25% duties on all imports from Canada and Mexico.

The UAE recorded a 3.8 per cent growth in real GDP in the first nine months of 2024, compared to the same period in 2023, reaching AED 1.322 trillion.

Aldar Properties has announced it has sold-out of the first phase of 'The Wilds', the developer's third project in Dubai, in partnership with Dubai Holding

Louis Vuitton, the world's biggest fashion label, will begin selling beauty products and has tapped British makeup artist Pat McGrath to lead creative direction for the new venture.

An investor group backed by BlackRock has agreed to buy a majority stake in the Hong Kong-based company that runs ports along either side of the Panama Canal, giving a US firm control of key docks.

Airbus is looking to manufacture components of military transport A400M aircraft in the UAE, the President of Airbus Africa and Middle East, Gabriel Sémelas, said.

Salik Company, Dubai's exclusive toll gate operator, has announced its financial results for year-ended December 31, 2024, with total revenue for the full year growing by 8.7 per cent year-on-year (YoY) to reach AED 2.3 billion.

US President Donald Trump's new 25 per cent tariffs on imports from Mexico and Canada took effect on Tuesday, along with a doubling of duties on Chinese goods to 20 per cent, launching new trade conflicts with the top three US trading partners.

Canada will impose 25 per cent tariffs on C$155 billion (AED 392 billion) worth of US goods from Tuesday if US President Donald Trump's administration follows through with its proposed tariffs on Canadian goods, Prime Minister Justin Trudeau said on Monday.

ADNOC and Austria’s OMV will merge their shareholdings in Borouge plc and Borealis AG to create Borouge Group International, creating a $60 billion (AED 220 billion) chemicals joint venture.

Emirates is expanding its global network with the official introduction of three new destinations - Shenzhen in China, Da Nang in Vietnam, and Siem Reap in Cambodia, with flights starting from June.

Bitcoin was trading up more than 20 per cent from last week's lows on Monday and several other cryptocurrencies that US President Donald Trump said would be included in a new US strategic reserve also rallied sharply.

China is preparing countermeasures against fresh US import tariffs set to take effect on Tuesday, China's state-controlled Global Times reported, raising the prospect of an all-out trade war between the world's top two economies.

Dubai Holding and the Roads and Transport Authority (RTA) signed an agreement worth AED 6 billion to enhance infrastructure across the city, it was announced on Sunday.

Dubai's energy demand increased by 5.4 per cent in 2024 compared to 2023, the Dubai Electricity and Water Authority (DEWA) announced. 

Firefly Aerospace succeeded in its first attempt to land on the moon with its uncrewed Blue Ghost spacecraft on Sunday, kicking off a two-week research mission as a handful of private firms compete to reach the frontlines of a global moon race.

Vietnam's Prime Minister Pham Minh Chinh said on Saturday the government wanted to rapidly issue a licence for Elon Musk's Starlink to provide satellite internet in the country under a pilot scheme.

DP World achieved a new milestone in 2024, handling a record 1.3 million vehicles across its terminals in Dubai.

Etihad Airways and leading Spanish-based carrier Air Europa are set to work towards a strategic partnership, enhancing commercial and operational ties to provide travellers with wider choices, higher quality services, and increased value.

The UAE has launched the Jaywan scheme, a domestic card scheme, available in debit, pre-paid and credit card form, and can be used in all payment channels like online transactions, ATM withdrawals, and point-of-sale (POS) terminals.

US President Donald Trump said Volodymyr Zelenskyy will visit Washington on Friday to sign an agreement on rare earth minerals, while the Ukrainian leader said the success of the deal would hinge on those talks and continued US aid.

Luxury carmaker Aston Martin said on Wednesday it will cut about five per cent of its global workforce to further reduce costs and drive future investments, and delayed the launch of its first battery electric vehicle (BEV) for the second time.

e& recorded a net profit of AED 10.8 billion in 2024, marking a 4.3 per cent increase year-over-year, the UAE-based telecommunications company said on Tuesday.

The Dubai Taxi Company (DTC) has signed a five-year strategic partnership with Dubai Airports, to be the exclusive provider of taxi services at Dubai International (DXB) and Dubai World Central - Al Maktoum International (DWC).

Apple says it will spend $500 billion (AED 183.6 billion) in US investments in the next four years that will include a giant factory in Texas for artificial intelligence servers and add about 20,000 research and development jobs across the country in that time.

US electric vehicle giant Tesla has started offering advanced self-driving functions for its cars in China, including autopilot on city streets, the company announced on Tuesday.

flydubai has recorded record-breaking annual results for its financial year ending December 31, 2024, the UAE carrier has announced. The airline reported a pre-tax profit of AED 2.5 billion ($674 million), which represents a 16 per cent growth year-on-year, and a total revenue of AED 12.8 billion ($3.5 billion).

Azizi Developments has announced a AED 3 billion contribution to the Fathers’ Endowment campaign, In the presence of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and the Ruler of Dubai.

Noatum Maritime, part of AD Ports Group, has agreed a Joint Venture (JV) with Erkport, a Turkish-based company with a proven track record in the Roll-on/Roll-off (Ro-Ro) shipping industry, launching a Ro-Ro liner business with integrated networks.

The Trump administration sent emails on Saturday evening to US federal government employees telling them to detail their work accomplishments from the previous week by Monday night or risk losing their jobs.

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.