Author: Team Tech Dubai Insider

Dubai International Financial Center. In the post-pandemic era, the UAE economy will be driven mainly by confidence in its policies, attracting talent from around the world in key sectors, and foreign direct investment. —File photo Posted by: Tuesday, April 16, 2024 6:13 pm The International Monetary Fund (IMF) predicted on Tuesday that the UAE’s economic growth next year will be higher than in 2023 and 2024, the highest level in three years. The “World Economic Outlook” released by the International Monetary Fund predicts GDP growth of 4.2% in 2025, compared with 3.5% in 2024 and 3.4% last year. The UAE…

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Manuel Manzoni, a visionary entrepreneur with a diverse portfolio spanning industries like Oil and Gas, Power Generation, Additive Manufacturing, and High Luxury Real Estate in Dubai and the Middle East, and Marco Scardeoni, an expert in international taxation consultancy with over 30 years of experience, have joined forces to establish GCC Advisors. This collaboration aims to revolutionize the approach to internationalization for Italian and EU companies seeking to expand into foreign markets. GCC Advisors, an Italian company headquartered in Desenzano del Garda, Milan, and Dubai, specializes in providing comprehensive support to businesses navigating the complexities of global expansion. With a…

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Spinneys Holding today announced its intention to conduct an initial public offering (IPO). It plans to list its ordinary shares for trading on the Dubai Financial Market. The company said the offering will see 900 million shares of Dh0.01 each issued. This represents 25% of the company’s total issued share capital. All shares to be issued are currently held by the selling shareholder, Al Seer Group. Promotion period The subscription period for UAE retail investors will begin on Tuesday, April 23, and end on Monday, April 29. For professional investors, the window closes on Tuesday, April 30. The stock may…

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Microsoft announced a US$1.5 billion investment in G42, a leading artificial intelligence company in the UAE. The move underscores the tech giant’s strategy to shift its focus away from China, further bolstering the Abu Dhabi-based company’s artificial intelligence efforts. As part of the partnership, Microsoft President Brad Smith will join G42’s board of directors, strengthening senior ties between the two companies.The collaboration is an extension of an existing relationship and has been developed in close consultation with the UAE and US governments. Brad Smith and G42 CEO Peng Xiao expressed their appreciation for the strong encouragement from the US government…

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Abu Dhabi: The Central Bank of the United Arab Emirates (CBUAE) has released the Credit Sentiment Survey Report for the Fourth Quarter of 2023, which covers recent changes in the financing conditions and credit needs of the UAE banking industry. Credit demand remained strong in the final quarter of 2023, reflecting accelerating economic growth and rising consumer and business confidence. Many banks said they were increasingly willing to accommodate growing loan demand, even as some tightened credit standards, the survey showed. Loan demand is strongest for business loans, particularly in the construction, manufacturing and trading sectors. For personal loans, demand…

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Dubai, United Arab Emirates – Juniper Networks, the leader in secure, AI-driven networking, announced the results of a UAE-based survey that examined IT decision-makers and enterprise employees’ understanding of the experience economy. The study also considers the strategic impact of the experience economy on future IT investments and measures organizations’ digital readiness in the context of the UAE’s digital economy strategy.The experience economy is an economic model in which public and private sector organizations shift their focus from selling products or services to providing and profiting from memorable and transformative experiences for their customers.The new study, conducted by Censuswide* on…

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Posted by: Tuesday, April 16, 2024 12:56 Flight operations at Dubai International Airport (DXB) were disrupted due to bad weather on Tuesday, leading to flight cancellations, delays and diversions. Dubai Airports confirmed that 17 inbound and outbound flights were affected by bad weather on Tuesday. Some delayed flights eventually landed around noon. Get the latest news. Follow KT on WhatsApp channel. “Dubai Airports can confirm that due to adverse weather conditions on Tuesday, normal operations at Dubai International Airport (DXB) have been affected, with some delays to arriving and departing flights. As a result, a total of 9 outbound flights…

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Spinneys Holding plc today announced its intention to conduct an initial public offering (IPO) and list its ordinary shares for trading on DFM. The company said in a statement that the offering will issue 900 million shares of Dh0.01 each, accounting for 25% of the company’s total issued share capital. All shares to be issued represent existing shares held by Al Seer Group LLC as the selling shareholder, which reserves the right to modify the size of the offering at any time before the end of the subscription period at its sole discretion, subject to applicable laws and regulations. Commodities…

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European founders looking for new capital often go after deep-pocketed U.S. investors, but in recent years they have increasingly turned their attention to the other side of the world.With significant capital in sovereign wealth funds and corporate venture capital, the Gulf states are becoming attractive investors in new startups and scale-ups (as well as venture capital) on the continent. According to data from Dealroom, investment in new European startups from Gulf countries totaled $3 billion in 2023, accounting for about 5% of the total funds raised in the region. This is almost a five-fold increase from 2018, when these countries…

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The report shows that the UAE’s current account surplus is expected to reach 8.4% in 2024 and 8.3% in 2025.The World Bank raised its 2024 real GDP growth forecast for the UAE to 3.9% from 3.7% in January. In the Middle East and North Africa (MENA) regional economic update, the World Bank also raised the UAE’s 2025 economic growth forecast to 4.1% from the previous 3.8%. read more: World Bank predicts UAE GDP to grow by 2.8% The report shows that the UAE’s current account surplus is expected to increase to 8.4% in 2024 and 8.3% in 2025. For the…

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