Business

The Emirates Nuclear Energy Company (ENEC) and Westinghouse Electric have signed an agreement focused on deploying advanced nuclear energy solutions in the United States.

India's trade deal with Britain is a sign of New Delhi's new gradual shift to opening up its markets while shielding crucial sectors from competition and could be its template for future agreements, government officials and analysts said on Friday.

Starting Friday, banks in the UAE will start phasing out the use of one-time passwords (OTPs) sent via SMS or email for all electronic and financial transactions, including both domestic and international transfers, to boost digital security. 

In a major enforcement action, the UAE's Securities and Commodities Authority (SCA) has fined a licensed company AED 5 million and referred it to the Public Prosecution for misleading investors.

The UAE has imposed more than AED 42 million in fines on private sector firms across 1,063 cases of money laundering in the first half of 2025, the Ministry of Economy and Tourism said on Thursday. 

Sharjah’s real estate sector recorded AED 27 billion in transactions during the first half of 2025, a 48.1 per cent increase from the same period last year.

A cyber-espionage campaign centered on vulnerable versions of Microsoft's MSFT.O server software now involves the deployment of ransomware, Microsoft said in a late Wednesday blog post.

Britain and India signed a free trade agreement on Thursday during a visit by Indian Prime Minister Narendra Modi, sealing a deal to cut tariffs on goods from textiles to whisky and cars and allow more market access for businesses.

Dubai continues to shine on the global stage as a top destination for business events.

The UAE and the European Union have reaffirmed their commitment to strengthening bilateral relations and advancing negotiations toward a Comprehensive Economic Partnership Agreement (CEPA) during a meeting in Brussels.

The United States and Japan struck a deal to lower the hefty tariffs President Donald Trump threatened to impose on goods from its Asian ally that included a $550 billion package of U.S.-bound investment and loans from Tokyo.

The Emirates Group has launched a global recruitment drive that aims to hire 17,300 staff across 350 roles this financial year.  

Dubai on Tuesday launched an initiative aimed at providing businesses with seamless access to multiple free zones, while maintaining a single license, as the city aims to widen its investor-friendly business environment. 

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, has approved a major project at Mina Al Hamriya involving the construction of a 700-metre quay with a 12-metre draft, designed to accommodate larger vessels and expand the port’s cargo-handling capability.

Dubai Chambers has announced the fourth international edition of the Dubai Business Forum is set to be held in New York on November 12.

Turkey has submitted a draft proposal to Iraq to renew and expand an energy agreement between the two countries to include cooperation in oil, gas, petrochemicals and electricity, an Iraqi oil ministry official told the state news agency.

The UAE’s trade in telecommunication services rose by 4.3 percent in 2024, reaching AED10.2 billion, up from AED9.8 billion in 2023, according to data released by the Federal Competitiveness and Statistics Centre (FCSC).

Abu Dhabi Airports is reporting strong growth for the first half of 2025, welcoming more than 15.8 million passengers between January and June — a 13.1 per cent increase compared to the same period in 2024.

Hong Kong's privacy watchdog said on Monday that it was investigating a data leak at Louis Vuitton affecting about 419,000 customers, just after a cyberattack on the luxury brand in South Korea in June.

Dubai’s real estate sector recorded strong performance in the first half of 2025, with over 125,000 transactions valued at AED431 billion — a 25 per cent increase compared to the same period last year.

The Saudi General Authority of Civil Aviation announced Sunday that a consortium made up of Air Arabia, Kun Investment Holding, and Nesma has secured the bid to operate a new low-cost national airline based at King Fahd International Airport in Dammam.

The Federal Tax Authority (FTA) continues to see strong results from its digital VAT refund systems for eligible categories, maintaining high levels of accuracy and operational efficiency throughout 2025.

The Trump administration said it is taking a series of actions against Mexico over the government's decisions to rescind some flight slots for American carriers and force US cargo carriers to relocate operations in Mexico City.

Ajman’s real estate sector recorded AED 12.4 billion in transactions during the first half of 2025, a 37% increase compared to the same period last year.

Dubai Chambers has taken a major step toward expanding its global business reach with the launch of 'Dubai Hub London' — its first international centre.

The UAE and Turkey have signed several key agreements and memoranda of understanding aimed at expanding cooperation across a wide range of sectors.

The UAE Ministry of Finance has launched the federal general budget cycle for the 2027-2029 period, marking a new phase in strengthening the country’s financial system.

Tech entrepreneur Elon Musk's Tesla is selling its Model Y cars in India starting at about $69,770 (AED 256,230), its website showed on Tuesday, as the electric car maker prepared to open its first showroom in the financial capital of Mumbai.

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.

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.