Author: Arabian Media staff
Saudi Arabia is on track to sustain annual non-oil growth of between 4.5 and 5.5 per cent through the coming decade, according to a new cross-sector report published by Moody’s Ratings on Wednesday. The ratings agency, through its latest sector report, says the kingdom’s economic diversification drive under Vision 2030 is “advancing and supporting the country’s medium-term economic prospects,” even as funding constraints and uneven project progress present challenges. Moody’s adds that Saudi companies “continue to have robust credit ratios,” though it warns that rapid expansion in the credit and insurance markets “will carry risks for companies in those sectors.”…
Image: WAM/Website Dubai Airshow has cancelled the participation of all six Israeli defence companies that were scheduled to attend next month’s biennial event following a “technical review,” the show’s organiser confirmed. Informa Markets, which manages the event, did not provide additional details regarding the decision. “The [Israeli] exhibitors that were previously coming won’t be participating,” said Tim Hawes, managing director of Informa Markets, at a press conference. “There was a technical review which we do of all companies that take part in the show,” he added, noting that the decision was made by the airshow’s technical committee. This development follows…
Image: Getty Billionaire Nikolay Storonsky, the CEO and co-founder of financial technology business Revolut, has changed his residence from the UK to the United Arab Emirates, according to filings in Britain’s corporate registry. Storonsky, who was born in Russia, changed his residence status in October 2024, a Companies House filing published on Tuesday shows. A spokesperson for Revolut declined to comment. The filing did not give a reason for the move. Revolut was valued last month at $75bn. Storonsky, who co-founded Revolut in 2015, owns more than 25 per cent of the company, directly or indirectly, according to the company’s latest annual report.…
Festivities will begin with Flag Day on 3 November and culminate on Eid Al Etihad on 2 December. Brand guidelines for this year’s Eid Al Etihad celebrations in the UAE have been unveiled, outlining detailed instructions on how to apply the official visual identity as the nation prepares to mark its 54th Union anniversary on 2 December. The 54th Eid Al Etihad Team this week brought together representatives from all seven emirates in a working session “designed to align efforts and create a cohesive approach to the upcoming festivities.” “This year’s celebrations reflect the shared spirit of the Union and…
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Image: Dubai Media Office Emirates NBD, one of the leading banking groups in the Middle East, North Africa, and Türkiye (MENAT) region, has announced a two-year collaboration with Coca-Cola Arena, the Middle East’s largest fully air-conditioned, multipurpose indoor arena. Under the partnership, Emirates NBD becomes the ‘Official Banking Partner’ of the 17,000-capacity venue in Dubai, underscoring the bank’s commitment to community engagement and enhancing customer value. The partnership comes at a time when Dubai is witnessing strong growth in its live events and entertainment sector. Through this collaboration, Emirates NBD will engage with a broad audience attracted by Coca-Cola Arena’s…
Image: Dubai Media Office Dubai International Financial Centre (DIFC), the global financial hub in the Middle East, Africa, and South Asia (MEASA), has announced that the DIFC Employee Workplace Savings (DEWS) scheme has surpassed $1bn in Assets under Administration (AuA). Launched in February 2020, DEWS was the first initiative of its kind in the region, transforming how end-of-service benefits are managed. By replacing the traditional gratuity system with a fully funded and professionally managed savings plan, DEWS introduced a model focused on transparency, sustainability, and long-term financial security for employees, while enabling employers to align with global workforce benefits standards.…
Google Gemini AI logo is seen displayed on a smartphone screen. (Photo: Getty Images) University students across the UAE will receive a full year of free access to Google’s generative AI model, Gemini 2.5 Pro, under a new partnership announced between the UAE government and Google. The initiative, part of the UAE’s National Artificial Intelligence Strategy, aims to build an advanced AI talent ecosystem by giving students access to cutting-edge tools for content creation, research, and productivity. Google said all university students aged 18 and above can register before December 9, 2025, to obtain a 12-month complimentary subscription to the…
Image: Supplied Cleveland Clinic Abu Dhabi (CCAD), in partnership with Archer Aviation, will develop the UAE’s first hospital-based vertiport under the General Civil Aviation Authority’s (GCAA) hybrid conversion framework. The project aims to provide direct electric air taxi access to the hospital, expanding the region’s advanced air mobility infrastructure. The vertiport will enable electric vertical takeoff and landing (eVTOL) aircraft operations for both non-emergency passengers and time-critical organ transport, using Archer’s Midnight aircraft. The electric aircraft can carry up to four passengers and operates with lower noise and emissions than traditional helicopters. New vertiport: CCAD, Archer to accommodate conventional helicopter,…