Ooredoo Group has signed a landmark agreement with Alcatel Submarine Networks to construct a high-capacity submarine cable system that will connect seven Gulf nations – Qatar, Oman, the UAE, Bahrain, Saudi Arabia, Kuwait, and Iraq.
The global car rental network Finalrentals has partnered with UAE-based Autorent to revolutionise car rentals in both the UAE and wider region.
The Central Bank of the UAE (CBUAE) has announced that the base rate for the overnight deposit facility (ODF) will remain at 4.40%. This decision aligns with the US Federal Reserve’s move to keep the interest rate on reserve balances (IORB) unchanged.
Financial services provider Paymob has announced a partnership with the open source eCommerce platform Woo. The collaboration marks Woo’s first preferred partnership in the region, integrating Paymob’s payment technology directly into the WooCommerce Marketplace.
Mordor Intelligence has forecast a compound annual growth rate (CAGR) of 5% for the UAE’s infrastructure sector between 2025 and 2030. This growth is expected to be fuelled by both government and private sector investments in high-quality projects. Key areas of focus include transportation, renewable energy, and real estate, all of which are poised for
The UAE’s high-speed train project connecting Abu Dhabi and Dubai is set to deliver significant economic impact, contributing an estimated $39.5bn to the nation’s GDP over the next 50 years. The project is expected to act as a catalyst for enhanced economic activity and social connectivity.
Meraas has signed a construction contract exceeding $272m with China State Construction Engineering Corporation (Middle East) for the development of Bluewaters Bay.
The World Economic Forum has formalised plans to establish three new Centres for the Fourth Industrial Revolution in 2025. In a major development for the GCC region, two of the cities will be Riyadh and Muscat with the third in Pretoria, South Africa. Each of them will develop innovative, locally relevant strategies to address pressing
Real estate developer Al Hamra has announced the completion and handover of Al Hamra Marina Residences in Ras Al Khaimah, a residential project within Al Hamra Village. This marks a key milestone in the company’s five-year strategy, which also includes the Falcon Island project, set for handover next year.
Global IT spending is projected to reach a record $5.61tr in 2025, reflecting a nearly 10% increase from $5.11tr in 2024, according to new research from Gartner based on analysis of sales data from more than 1,000 IT vendors worldwide. This growth is driven by investments in AI as well as hardware upgrades by enterprises
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