Family credit in the UAE banking sector has reached a significant milestone, reaching approximately $115 billion in the past year, according to the latest statistics from the Arab Monetary Fund. This figure represents a substantial 11.3 percent increase, positioning the UAE as the second-fastest growing market for family credit among Arab countries, just behind Algeria’s…
Description: The UAE’s used electric vehicle market is facing challenges, with demand dropping despite dealers’ efforts to offer attractive deals and certifications. This article explores the current state of the secondhand EV market in the UAE, highlighting the factors contributing to the decline in demand and the strategies dealers are employing to revive interest. Subtitle…
The UAE Fuel Price Committee has announced a significant reduction in petrol prices for October 2024, marking the lowest levels since January of the same year. This price cut aligns with international oil rates and reflects ongoing fluctuations in the global oil market. Substantial Price Cuts Across All Fuel Types Petrol prices in the UAE…
UAE airports have seen a significant surge in passenger traffic during the first half of 2024, with a 14.2 percent increase compared to the same period last year. This growth reflects the country’s ongoing economic recovery and its position as a global aviation hub. The Rise of Air Travel in the UAE According to data…
Robotaxis Set to Transform Transportation in Abu Dhabi Uber Technologies and Chinese autonomous vehicle company WeRide have announced a groundbreaking partnership to bring robotaxis to the streets of Abu Dhabi later this year. This collaboration marks a significant step towards the future of urban mobility in the UAE, combining Uber’s ride-hailing platform with WeRide’s autonomous…
Description: The Dubai Department of Economy and Tourism (DET) has partnered with Amazon UAE to launch the ‘DET x Amazon Accelerator’ program, aimed at boosting the growth of Dubai’s small and medium enterprises (SMEs). This initiative, part of the Dubai Traders program under the Dubai Economic Agenda D33, seeks to enhance SMEs’ competitiveness globally by…
Microsoft Expands Global Engineering Footprint to UAE Microsoft has announced the expansion of its Global Engineering Development Center to Abu Dhabi, UAE. This new center, one of the first engineering hubs in the Arab world, will focus on creating AI innovations, cloud technologies, and advanced cybersecurity solutions. The move strengthens the UAE’s position as a…
Typhoon Bebinca made landfall in Shanghai as a Category 1 storm, causing significant disruptions to air travel. The storm, the most powerful to directly hit the Chinese financial hub in over 70 years, has led to the cancellation of numerous flights, affecting both local and international carriers. Flight Cancellations and Delays Shanghai’s two main airports,…
Joby Aviation takes a significant step towards revolutionizing urban transportation in the United Arab Emirates by applying to become the first certified electric air taxi operator in the country. UAE Skies Set for Electric Revolution In a groundbreaking move, Joby Aviation has submitted a Letter of Intent to initiate its Air Operator Certificate application with…
In a significant move strengthening UAE-India relations, four groundbreaking agreements were signed in the energy sector, marking a new era of cooperation between the two nations. UAE Bolsters Energy Exports with LNG and Crude Oil Agreements The Abu Dhabi National Oil Company (ADNOC) has committed to supplying one million metric tonnes of liquefied natural gas…
