US-based Forcepoint with AWS to open data center in Dubai

Forcepoint, an American multinational corporation software company, has formed a partnership with Amazon Web Services (AWS) to open a new data center in Dubai as part of the continued expansion of its Data-first Secure access service edge (SASE) platform services in the Middle East. Forcepoint’s Data-first SASE approach to cloud-delivered security and connectivity focuses on […]

DIFC Courts reports Dhs15bn in claims value in H1 2023

The Dubai International Financial Centre (DIFC) Courts announced its performance highlights for H1 2023. The value of cases across all divisions recorded a 692 per cent increase during the period compared to H1 2022, with a total value of Dhs15bn across 455 cases filed. In the main Court of First Instance (CFI), 52 cases were […]

DIFC to host first Future Sustainability Forum in Dubai

Dubai International Financial Centre (DIFC) has announced it will host the inaugural edition of the Future Sustainability Forum ahead of COP28. Set to galvanise key stakeholders, including the finance and insurance sectors, towards accelerating net-zero goals, the forum offers a platform to explore future sustainability and climate technologies critical for the world’s net-zero agenda and […]

Dubai’s Taaleem posts $54.5m profit since IPO

Dubai’s Taaleem Holdings said its net profit in the nine months to the end of May 2023 surged by 34.9 per cent to $54.5m (Dhs199.8m), driven by a surge in student enrollments and higher net finance income from the undeployed initial public offering (IPO) proceeds. Taaleem raised $204m from its IPO on the Dubai Financial Markets […]

Mohammed bin Rashid Al Maktoum Solar Park: A global model for clean energy leadership

  The UAE is among the largest countries in the world to invest in clean and renewable energy projects and was the first country in the Middle East and North Africa to launch a strategic initiative to achieve net-zero carbon emissions by 2050. During the Year of Sustainability, it hosts the Conference of the Parties […]

DXB to top 252,000 daily passengers this fortnight

Dubai International (DXB) will welcome an estimated 3.5 million guests through its doors between June 20 and July 3, with average total daily traffic reaching 252,000, according to a new report from Dubai Airports. The hub is preparing for a surge in departures, with more than a quarter of a million in outbound traffic from […]

Prestige One launches two residential projects in Dubai

Dubai-based Prestige One Developments announced on Monday the launch of two luxury residential apartment projects in Dubai Sports City and Jumeirah Village Circle. The 14-storey Vista, designed by LACASA Architects, will comprise 140 apartments, the developer said in a statement. Amenities, such as an electric vehicle charging station, a landscaped jogging track, a multi-sport court, […]

Dubai’s Emaar Development sees slight profit fall to $288mln

Dubai-based developer Emaar Development has announced a marginally reduced profit in the first quarter of 2023 as revenue fell. The company, which is the development arm of Emaar Properties, reported attributable profit for the period of AED 1.06 billion ($288 million) for the first quarter of 2023, down from AED 1.05 billion in the first […]

Dubai: Fintech helps DIFC grow faster than emirate’s overall economic growth

  Financial technology (popularly known as Fintech) has become a major growth driver for the Dubai International Financial Centre (DIFC), helping it to grow faster than Dubai’s overall growth rate. Essa Kazim, governor of DIFC, said the financial centre has become a major engine of growth for the emirate’s economy and a significant contributor to […]

Dubai DEWA’s consolidated profit rises 10% to $208mln in Q1 2023

Utility provider Dubai Electricity and Water Authority (DEWA) reported a consolidated net profit of 763 million UAE dirhams ($207.78 million), up 10.4% year-on-year (yoy), in the first quarter of 2023. The first-quarter consolidated revenue rose 7.3% year-on-year to AED 5.44 billion, fuelled by higher demand for electricity, water, and cooling services, the company said in […]