Business News

Low-cost carrier Wizz Air said on Monday it would exit its Abu Dhabi operations and suspend all locally based flights from September due to operational challenges and geopolitical developments in the Middle East.

DP World has signed a 30‑year concession agreement worth $800 million with Syria’s General Authority for Land and Sea Ports to redevelop and operate the Port of Tartus.

The UAE's Ministry of Economy and Tourism has signed two agreements with Spain and Morocco to strengthen cooperation in industrial property rights.

SpaceX has committed $2 billion to xAI as part of a $5 billion equity round, deepening the ties between tech billionaire Elon Musk's ventures as his artificial intelligence startup races to compete with rival OpenAI, the Wall Street Journal reported.

US President Donald Trump has imposed a 30 per cent tariff on imports from Mexico and the European Union starting on August 1 after weeks of negotiations with the key trading allies failed to reach a more comprehensive trade deal.

China and the Association of Southeast Asian Nations (ASEAN) have agreed to submit a pact upgrading their free trade areas to their leaders for approval in October, according to China's foreign minister Wang Yi on Saturday.

The UAE and Germany have taken a major step forward in economic cooperation with the official launch of the UAE-Germany Business Council in Berlin.

Starting August 1, US President Donald Trump will raise tariffs on Canadian goods to 35 per cent from 25 per cent and has planned to impose 15 to 20 per cent tariffs on most other trade partners.

The Ministry of Energy and Infrastructure has reiterated that the UAE remains focused on delivering its planned production capacity of 5 million barrels per day by 2027.

Samsung Electronics has unveiled thinner, lighter foldable phones as it aims to fend off Chinese competition in the higher-margin, premium segment that remains untapped by arch rival Apple.

US President Donald Trump announced on Wednesday a 50 per cent tariff on copper to start on August 1 in a bid to promote domestic development of an industry critical to defence, electronics and automobiles.

The UAE and Azerbaijan have signed a Comprehensive Economic Partnership Agreement (CEPA), aimed at strengthening economic ties and driving mutual growth across key sectors.

The UAE has welcomed its removal from the European Union’s list of high-risk third countries for money laundering and terrorist financing.

In a major step toward digital innovation, Emirates Airline and Dubai Duty Free have signed separate Memorandums of Understanding (MoUs) with global cryptocurrency platform Crypto.com, aiming to explore the integration of crypto payments into their systems.

The UAE has launched a major global initiative to drive innovation in legislation.

Oil prices slipped more than 1 per cent on Monday after Organisation of the Petroleum Exporting Countries and their allies (OPEC+) surprised markets by hiking output more than expected in August, raising concerns about oversupply.

The UAE has secured the third position globally in the Global SWF mid-year report 2025, with sovereign-owned investor (SOI) assets valued at $2.49 trillion.

OPEC+ agreed on Saturday to raise production by 548,000 barrels per day in August, further accelerating output increases at its first meeting since oil prices jumped - and then retreated - following Israeli and US attacks on Iran.

The United Arab Emirates has consolidated its status as a leading force and key player in the digital nomad economy, rising to second place globally as a top destination for digital nomads in 2025.

A walkout by French air traffic controllers to protest against staff shortages and ageing equipment forced airlines to cancel hundreds of flights on Thursday, just as the summer season gets under way.

Abu Dhabi’s economy continues to show strong momentum in 2025, with new data from the Statistics Centre–Abu Dhabi revealing a GDP of AED 291 billion in the first quarter, up 3.4 per cent year-on-year.

Dubai has launched a programme for first-time home buyers, aiming to make homeownership more accessible and affordable by facilitating priority access to new launches, preferential pricing and tailored mortgage solutions. 

Archer Aviation has conducted test flights of its Midnight electric vertical take-off and landing (eVTOL) air taxi services at Al Bateen Executive Airport in Abu Dhabi, marking a key milestone for its planned commercial deployment in the UAE and the expansion of its operations in the region.

US and India trade negotiators are pushing to try to land a tariff-reducing deal ahead of President Donald Trump's July 9 negotiating deadline, but disagreements over US dairy and agriculture remained unresolved, sources familiar with the talks said.

A cyber hacker broke into a database containing the personal information of millions of customers, Qantas said, in Australia's biggest breach in years and a setback for an airline rebuilding trust after a reputational crisis.

Emirates has officially launched its daily services to Shenzhen, marking the airline’s fourth gateway in the Chinese mainland after Beijing, Shanghai and Guangzhou.

Dubai Airshow has officially opened registration for its 19th edition, taking place from November 17-21 at Dubai World Central.

US President Donald Trump on Tuesday threatened to cut off the billions of dollars in subsidies that Elon Musk's companies receive from the federal government, in an escalation of the war of words between the president and the world's richest man, one-time allies who have since fallen out.

Dubai Holding and Select Group, a real estate development and investment firm, have partnered to develop two "large-scale" residential and hospitality establishments in Palm Jebel Ali and Dubai Design District (d3). 

Air Arabia has announced the return of direct flights between Sharjah and Damascus, starting July 10.

Emirates REIT (real estate investment trust) has recorded total property income of $19 million in the first quarter of 2025, marking a 24 per cent year-on-year growth.

Dubai Municipality has announced that the Committee of Registration and Licensing the Practice of Engineering Consultancy & Contracting has issued a decision to suspend two engineering consultancy offices and bar them from licensing any new projects for a period of six months.

His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, has reviewed the 2024 annual report of the Ministry of Finance (MoF) titled "Financial Sustainability and Global Leadership".

Sharjah Economic Development Department (SEDD) has launched an “Instant Licence” service in order to promote investments and attract investors to the Emirate.

Sharjah Airport has announced a significant increase in summer travel volume, with more than 800,000 passengers expected to fly in between July 1 and 15.

The UAE’s travel and tourism sector delivered a standout performance in 2024, contributing AED 257.3 billion to the national GDP — 13 per cent of the total economy, according to a report by the World Travel and Tourism Council (WTTC).

A bank in the UAE has been fined AED 3.5 million and banned it from operating for six months for failing to comply with Sharia guidelines.

Emirates Airline said it was preparing for a busy week of departures as travellers head to their summer holiday destinations, with more than 30,000 passengers expected to pass through daily until Monday. 

Flydubai is reinstating flights across its network and preparing to resume a full schedule.

Global shares rallied and the dollar extended declines on Tuesday after US President Donald Trump said Iran and Israel had agreed to a ceasefire, sending oil prices into a deep dive as concerns over supply disruptions ebbed.

The UAE and Canada will expand cooperation in several key sectors, including artificial intelligence, trade and energy.

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.