Business News

ADNOC Distribution has reported a net profit growing by 15.6 per cent year-on-year to $579 million in the first nine months, with an EBITDA increase of 12 per cent to $885 million, its strongest performance since listing in 2017.

TECOM Group has announced a 20 per cent revenue growth reaching more than AED 2.1 billion, with a net profit exceeding AED 1.1 billion, marking an 18 per cent year-on-year increase.

The Dubai Financial Market (DFM) has announced its consolidated financial results for the nine months ending September 30, reporting a net profit before tax of AED 930.8 million, an increase of 212 per cent compared to the same period in 2024.

DMCC — Dubai’s leading international business district — has announced plans to create a new Financial Centre that will anchor trade finance, fintech innovation and digital asset solutions across its 26,000-member community.

The Central Bank of the UAE (CBUAE) has decided to cut the Base Rate applicable to the Overnight Deposit Facility (ODF) by 25 basis points, from 4.15 per cent to 3.90 per cent, effective from Thursday, October 30.

Syrian President Ahmed Al-Sharaa announced that the country has attracted approximately $28 billion in investments during the first six months of this year, highlighting significant participation from companies based in the UAE, Saudi Arabia, and Qatar.

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has emphasised the UAE's commitment to strengthening economic ties with African nations.

Abu Dhabi Airports has reported its 18th consecutive quarter of double-digit passenger growth.

Microsoft and OpenAI reached a deal to allow the ChatGPT maker to restructure itself into a public benefit corporation, valuing OpenAI at $500 billion and giving it more freedom in its business operations.

Apple topped $4 trillion in market value for the first time on Tuesday, the third Big Tech company to hit the milestone, as robust demand for its latest iPhone models allayed fears over its slow progress in the AI race.

Amazon is planning to cut as many as 30,000 corporate jobs beginning on Tuesday, as the company pares expenses and compensates for overhiring during the peak demand of the pandemic, according to three people familiar with the matter.

US air travel turmoil deepened as nearly 7,000 flights were delayed nationwide, with air traffic controller absences surging as the federal government shutdown reached its 27th day.

The UAE has hosted a high-level ministerial roundtable with over 20 African nations in Dubai, launching a new investment roadmap to boost cooperation in tourism, aviation, transport, infrastructure and digital transformation.

The UAE Cabinet has approved the federal budget for 2026, with projected revenues of AED 92.4 billion and equally balanced expenditures.

US President Donald Trump said he was confident of hashing out a deal with President Xi Jinping, whom he is expected to meet next week, after top economic officials from both countries concluded two days of discussions on Sunday to de-escalate a trade war.

The Technology Innovation Institute (TII) has announced it currently has 70 patents in process across a wide range of advanced technology fields, an achievement that reflects the high output of its nine research centres.

The largest edition of Global Food Week has concluded in Abu Dhabi, with 58 agreements reached over three days at a value of AED6.6 billion, reflecting a 6.5 per cent increase to the previous edition.

Ferrari is tapping into crypto markets and tech-rich youngsters with a planned new digital token that its wealthiest fans will be able to use in an auction for a Ferrari 499P, the endurance car that won three straight Le Mans titles.

The UAE Ministry of Finance has launched an initiative called 'Retail Sukuk', allowing individual investors to access Shariah-compliant, government-backed Treasury Sukuk (T-Sukuk) through digital platforms operated by local banks.

A new freight rail service is set to connect Sohar in Oman with Abu Dhabi in the UAE, marking a major step forward in regional trade and logistics.

US President Donald Trump said on Thursday all trade talks with Canada were terminated following what he called a fraudulent advertisement in which former and late President Ronald Reagan spoke negatively about tariffs.

Emirates Integrated Telecommunications Company PJSC (du) announced its financial results for the third quarter of 2025 on Thursday, reporting strong revenue growth and solid profitability across its key business segments.

Nakheel, a member of Dubai Holding Real Estate, has announced the launch of an exclusive collection of waterfront villas at Palm Jebel Ali, marking a new chapter in the evolution of Dubai’s most ambitious island development.

Digital classifieds leader Dubizzle Group has postponed its planned initial public offering (IPO) on the Dubai Financial Market.

A major strategic merger is set to reshape the future of development and tourism in Ras Al Khaimah.

A new national initiative is set to train 1,000 Emirati entrepreneurial families across the UAE in business and project management.

India's government on Wednesday proposed that artificial intelligence and social media firms should clearly label AI-generated content to tackle the spread of deepfake and misinformation, prompted by similar moves by the European Union and China.

The number of passengers using Sharjah Airport between July and September of 2025 grew by 16.7 per cent compared to the same period in 2024, reaching 5,127,120.

OpenAI on Tuesday unveiled ChatGPT Atlas, a long-anticipated artificial intelligence-powered web browser built around its popular chatbot, in a direct challenge to Google Chrome’s dominance.

Samsung Electronics released its Galaxy XR extended reality headset on Tuesday, counting on AI features from Google to propel it into the growing and uncertain market of computing-on-your-face that is dominated by Meta and Apple.

Dubai is rolling out new incentives for investors, to boost hotel development in emerging growth areas of the city.

Amazon's cloud services unit AWS has returned to normal operations on Monday afternoon, the company said, after an internet outage that caused global turmoil among thousands of sites, including some of the web's most popular apps like Snapchat and Reddit.

Argentina's central bank said on Monday it signed a $20 billion exchange-rate stabilisation agreement with the US Treasury Department, six days ahead of a key midterm election.

US President Donald Trump and Australian Prime Minister Anthony Albanese signed a rare earths and critical minerals agreement on Monday aimed at ensuring a steady supply of the materials at a time when China is trying to tighten control over global supply.

Amazon's cloud services unit AWS was hit by an outage on Monday that took down several popular apps including Fortnite and Snapchat and caused connectivity issues for many companies around the world.

US President Donald Trump reiterated on Sunday that Indian Prime Minister Narendra Modi told him India will stop buying Russian oil, while warning that New Delhi would continue paying "massive" tariffs if it did not do so.

Businesses in Ras Al Khaimah affected by infrastructure works in Al Riffa and Al Jazeera Al Hamra areas will receive a two-year exemption on commercial licence fees.

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has directed that GITEX TechCation 2026 be developed into the world’s largest event in the field of technology and artificial intelligence.

Some Indian refiners are preparing to cut Russian oil imports, three sources told Reuters on Thursday, after US President Donald Trump said India had given an assurance it would stop its buying to help end the war in Ukraine.

The two-week-old federal government shutdown may cost the US economy as much as $15 billion a week in lost output, a Treasury official said late on Wednesday.

Global leaders at the forefront of shaping cities are set to gather in Dubai this month for a major summit focused on the future of urban living.

GITEX is going global once again — this time heading to Latin America — with GITEX LATAM set to debut in São Paulo, Brazil in March 2027.

Gucci, Chloe and Loewe have been fined a total of 157 million euros ($182 million) by the European Union's antitrust watchdog for fixing the resale prices of their retail partners.

Alphabet Inc's  Google will invest $10 billion to set up a massive data centre and artificial intelligence hub in Andhra Pradesh, officials from the southern Indian state said, marking its biggest such investment in the South Asian nation.

Dubizzle Group Holdings has announced plans to offer a 30.34 per cent stake through an initial public offering (IPO) on the Dubai Financial Market (DFM).

Dubai Healthcare City is set for a major expansion, with a new AED 1.3 billion development plan announced for its Phase 1 zone.

Dubai has cemented its position as a global leader in the virtual assets space, with trading volumes surpassing AED 2.5 trillion since the start of the year.

US President Donald Trump revived the trade war against Beijing on Friday, ending an uneasy truce between the two largest economies with promises to sharply hike tariffs in a reprisal against China curbing its critical mineral exports.

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.