The investment bank EFG Hermes has completed its advisory role on the IPO of Nice One, the Saudi Arabia beauty and personal care e-commerce platform. This marks the first e-commerce platform to be listed on the main Saudi Exchange (Tadawul).
The UAE has set a historic record in its aviation sector, surpassing one million air traffic movements in 2024, according to the General Civil Aviation Authority (GCAA). This achievement was marked on December 22, 2024, with the arrival of Emirates Flight 305 from Shanghai, officially recording the one-millionth movement.
A new collaboration between Zand bank and Klickl International will highlight Zand’s commitment to integrating cutting-edge technology with financial services, addressing the growing demands of the digital economy and supporting the evolution of the Web3 ecosystem.
Looking ahead to 2025, the UAE is set to continue its upward trajectory. At this point, it’s not too bold to say that if you’re looking to relocate or start a company somewhere in the world next year, there really is no better place to do business.
Dubai has ranked first in the Middle East and eighth globally in the new 2024 Global Power City Index (GPCI). The index was published by the Mori Memorial Foundation which focuses on conducting research and publishing insights in the fields of urban renewal and development, aiming to design urban environments that support sustainable living.
The Abu Dhabi Global Market (ADGM) has announced a major reduction in commercial license fees effective 1st January 2025. The new fee structure, aimed at enhancing ADGM’s business ecosystem, offers significant savings for non-financial and retail businesses operating within the jurisdiction.
Dubai’s appeal as a hub for regional and global investors continues to grow with a report showing that a total of 51,561 new companies joined the Chamber from January to September 2024, reflecting a 4% year-over-year increase. This aligns with the goal of creating and supporting a favourable business environment set out by the Dubai
The drive towards a diversified economy took a new leap last year. A report just published from the UAE Ministry of Economy has revealed that non-oil sectors played a central role in the UAE’s economic growth during the first half of 2024, contributing 75% to the country’s GDP.
Abu Dhabi’s Mubadala Investment Company played a major role in sovereign wealth fund (SWF) activity in 2024, accounting for nearly 20% of the $136.1bn total spent worldwide. Mubadala deployed $29.2bn in 2024, a substantial rise from the $17.5bn invested the previous year. Key focuses included the digital economy, AI and digitisation.
The UAE-based conglomerate Elite Group Holding has signed an agreement to establish a $27m integrated facility at Dubai Industrial City, a leading manufacturing and logistics hub.
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