Author: MoneySecrets
Fadi Abu Shamat, Head of Mobile Experience at Samsung Gulf Electronics, affirmed that the UAE—particularly Dubai—serves as a strategic market and a leading hub for innovation in the technology sector. He noted that Samsung recorded double-digit growth in sales of its premium smartphones in the UAE in 2024 compared to 2023, driven by strong demand for the Galaxy S25 series powered by artificial intelligence. He highlighted that pre-orders for the new series rose by 20% compared to the S24, reflecting growing consumer trust and Dubai’s status as a launchpad for cutting-edge innovations. According to Abu Shamat, Dubai’s digitally savvy consumers…
The Dubai International Financial Centre (DIFC) is set to host the third edition of the Dubai FinTech Summit on 12 and 13 May 2025, at the Madinat Jumeirah, Dubai, under the theme ‘FinTech for All’. The Summit, held under the patronage of H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance, and President of DIFC, will bring together global industry leaders, innovators, and policymakers to explore the latest trends and insights driving the FinTech sector. H.H. Sheikh Maktoum bin Mohammed said: “The Dubai FinTech Summit reflects the vision of…
The UAE’s electric car market experienced significant sales growth over the past year as new companies entered the competitive landscape and successfully secured their positions. Most notable among these is BYD, which achieved global prominence and is now competing locally with the American giant, Tesla. According to data from the “Focus2Move” website, electric car sales in the UAE rose by a record of 260% last year, marking the fifth consecutive year of growth for new vehicle sales. Electric vehicles accounted for 8% of the overall market, equivalent to 21,910 cars sold. Several factors contributed to this significant surge in electric…
The United Arab Emirates has maintained its leading regional position in the 2025 Foreign Direct Investment (FDI) Confidence Index, published by Kearney, ranking 9th globally and 2nd among emerging markets, reaffirming its status as the top investment destination in the GCC. The report highlighted that GCC countries—led by the UAE, Saudi Arabia, and Kuwait—continue to attract strong global investor interest, alongside China, positioning them as key FDI destinations over the next three years. The study also projects that the digital economy will contribute around 20% to the UAE’s GDP by 2031, driven by ambitious national strategies and major infrastructure projects…
The UAE has solidified its status as a global center for economic dialogue and investment opportunity creation through the successful organization of a landmark edition of the AIM Global Investment Summit. The event brought together heads of state, ministers, policymakers, investors, and global organizations from around the world. The summit featured high-level discussions and engaging dialogue sessions that explored the evolving global investment landscape. The strong international presence underscored growing confidence in the UAE as a secure and attractive investment destination. Attendees from 181 countries participated in over 430 sessions and workshops, with dozens of MoUs signed and thousands of…
Ras Al Khaimah Economic Zone “RAKEZ” reaffirmed its leading role in enhancing economic relations between the UAE and the United Kingdom by serving as the main sponsor of a reception hosted by the British Chamber of Commerce Dubai in London. The event was part of RAKEZ’s ongoing efforts to promote trade and investment cooperation between the two countries. The reception attracted prominent executives and business leaders from various sectors in the UK and was part of a series of initiatives aimed at supporting the presence of British companies in the UAE and the wider Middle East region. This comes amid…
ADNOC Drilling announced it has been awarded a five-year contract worth AED 5.99 billion (approximately USD 1.63 billion) by ADNOC Offshore to deliver Integrated Drilling Services (IDS), further solidifying its position as a leading provider of advanced energy services within ADNOC Group and across the region. The comprehensive contract covers directional drilling, drilling fluids, cementing operations, well logging and evaluation, pipe running services, and advanced technical support — all aimed at executing deep drilling operations that connect to high-capacity reservoirs to enhance productivity. Abdulrahman Abdullah Al Seiari, CEO of ADNOC Drilling, emphasized that securing a contract of this scale highlights…
Abu Dhabi National Oil Company (ADNOC) announced the official opening of its new office in Beijing, a strategic move aimed at strengthening long-term commercial ties with clients and partners in the People’s Republic of China. The announcement coincided with an official visit by His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Managing Director and Group CEO of ADNOC, to China. During the visit, ADNOC signed three agreements for the supply of liquefied natural gas (LNG), including the largest-ever LNG deal between the UAE and China by volume, further cementing ADNOC’s position as a…
Vienna-The Organization of the Petroleum Exporting Countries (OPEC) confirmed in its April report that the UAE’s non-oil economy continues to show strong growth, supported by positive economic indicators and consistent progress in economic diversification. The report praised the country’s strategic initiatives, particularly the “300 Billion Project”, which aims to boost the industrial sector, expand export markets, and attract foreign investment. It also highlighted the roles of Abu Dhabi and Dubai in advancing these efforts by developing new sectors such as digital technology, financial services, creative industries, clean energy, education, and scientific innovation. OPEC pointed to strong performance in key sectors,…
Abu Dhabi-based entities ADQ, International Holding Company (IHC), and Modon Properties have announced the launch of a new joint venture named Gridora, aimed at developing major infrastructure projects and strengthening public-private sector collaboration. Operating under the umbrella of Modon Properties, Gridora is a strategic initiative designed to accelerate the execution of vital infrastructure projects with transformative economic impact, while fostering a sustainable and attractive investment environment in the Emirate of Abu Dhabi. The new company will leverage Modon’s expertise in real estate and infrastructure development across local and international markets, focusing on two main pillars: project execution and infrastructure investments.…