In a new report on trust and confidence, the UAE has far outperformed the global average. According to the latest Edelman Trust Barometer, 82% of UAE respondents trust their government - a figure which far surpasses the global government trust average of 52%.
Dubai International Financial Centre (DIFC) has achieved its strongest financial performance to date, posting total revenue of $484m in 2024, the largest annual increase since its establishment and a 37% increase from 2023. Operating profit reached $363m, a 55% increase from the previous year.
The UAE and Ukraine have signed a Comprehensive Economic Partnership Agreement (CEPA) set to boost their economies, adding $369 million to the UAE’s GDP and $874 million to Ukraine’s by 2031.
New plans have been unveiled for the Riyadh Creative District, an initiative aimed at positioning the Saudi capital as a global media and creative hub.
Abu Dhabi’s Alpha Data has announced plans for an IPO on the Abu Dhabi Securities Exchange (ADX). The digital transformation firm will offer 400 million ordinary shares, constituting 40% of its issued share capital, at a nominal price of AED 0.03 per share.
Dubai is set to revolutionise urban transport with the introduction of an underground high-speed transit network, dubbed the ‘Dubai Loop’.
Dubai Electricity and Water Authority (DEWA) has recorded the world’s lowest electricity Customer Minutes Lost (CML) in 2024. The authority reported 0.94 minutes of downtime per customer, underscoring its commitment to delivering top-tier service and operational efficiency.
Speaking at the World Government Summit in Dubai, Google CEO Sundar Pichai said that AI will create many new job opportunities, dismissing concerns that the new technology will have the opposite effect.
The Saudi Central Bank (SAMA) has granted approval for four fintech startups to trial their solutions within its Regulatory Sandbox, furthering efforts to drive innovation in the financial sector. The newly approved companies cover areas including open banking and peer-to-lending.
Unipal has successfully closed its pre-Series A funding round. The investment in the GCC youth benefits platform was led by Plus VC, with contributions from Al Jazira Capital, RZM Investments, Falak Angels, Doha Tech Angels, and others.
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