Business News from Friday, December 12th, 2025

Parkin expands into Abu Dhabi under partnership with DAMAC

The paid parking operator Parkin has signed a five-year agreement with DAMAC Properties to manage around 3,600 parking spaces across the developer’s communities in Dubai and Abu Dhabi.
DP World launches 36-hour Dubai-Iraq sea link

DP World has launched a 36-hour maritime service linking Dubai’s Mina Rashid with Iraq’s Umm Qasr Port, offering a faster alternative to overland trucking.
Dubai hosts Sustainable Bio International Forum

The Sustainable Bio International Forum, hosted by Dubai on Friday under the theme “From the UAE…to a Greener World”, discussed the future of sustainable bioenergy and its role in supporting a low-carbon circular economy.
TerraUSD creator Do Kwon sentenced to 15 years over $40 billion crypto collapse

Do Kwon, the South Korean cryptocurrency entrepreneur behind two digital currencies that lost an estimated $40 billion in 2022, was sentenced on Thursday to 15 years in prison for what a judge called an "epic fraud".

News

Rain hits parts of UAE: Dubai Police issues public safety SMS alerts
Several parts of the UAE have been hit with rainfall of varying intensities on Sunday morning, with the Dubai Police issuing public safety messages via SMS to urge residents to exercise caution.
UAE relief teams conclude humanitarian mission in Sri Lanka
The UAE Relief Team has departed Sri Lanka after completing its humanitarian mission, carried out in response to the severe impact of Cyclone Ditwah and the landslides that struck the country.
UAE, Serbia deepen ties with new political agreement
His Highness Sheikh Abdullah bin Zayed Al Nahyan, UAE Deputy Prime Minister and Minister of Foreign Affairs, and Serbia’s Foreign Minister Marko Đurić, have agreed to deepen political coordination after signing a Memorandum of Understanding (MoU) during talks in Abu Dhabi.