Latest Business News and Updates

Legal Challenges for Property Buyers Seeking to Invoke Force Majeure in Dubai

He also emphasized that seeking early legal counsel is the most prudent course of action, warning that premature steps can sometimes lead to more issues than they resolve.

Steady Remittances from the UAE in Q1 2026 Amid Currency Fluctuations

Remittances from the UAE have remained largely steady in the first quarter of 2026, with a slight increase to some countries due to favourable exchange rates, according to leading UAE currency exchange companies.

BIS Calls for Global Cooperation on Stablecoin Regulation

UAE Airlines Expand Global Connectivity Amid Ceasefire

Europe:

Amazon Acquires Globalstar to Enhance Satellite Internet Network

Amazon announced on Tuesday that it has reached an agreement to purchase the US telecommunications satellite company Globalstar, aiming to expand its space-based internet infrastructure and compete with Elon Musk's Starlink.

The Challenge of Transitioning from Fossil Fuels: Insights Post-COP28

RAKBank Achieves Record Quarterly Profit in Q1 2026

RAKBank announced on Monday its strongest quarterly performance ever in the first three months of 2026, reporting a profit after tax of Dh1 billion, a 43 percent increase year-on-year, driven by growth in its balance sheet, expanding margins, and a one-time gain from an asset sale.

Surge in Demand for Hybrid and Electric Vehicles in the UAE Amid Rising Fuel Prices

Lexus’ UAE dealer, Al Futtaim, reported a similar trend, with increasing demand for hybrids in recent months. “Overall, demand is evolving steadily, indicating a longer-term shift in how customers assess their mobility options, further reinforced by the current market dynamics,” said Jacques Brent, Managing Director of Al-Futtaim Lexus UAE.

Why Dubai’s property boom is built to last for a long time

Dubai sells 500 homes valued at over $10 million in 2025, sets new record

Dubai’s luxury property market achieved a new record, reaching 500 homes valued at $10 million in 2025, including a record 68 homes being sold worth more than $25 million, according to the property consultancy Knight Frank.This is compared to 435 luxury homes of $10-million-plus being sold in 2024 and 46 uber-luxury homes of $25 million-plus valued changing hands during the year.Faisal Durrani, partner and head of research for Mena at Knight Frank, said there is a huge appetite among regional an

Indian rupee hits record low against dirham; will UAE grocery prices fall?

The Indian rupee's record low against the UAE dirham and the US dollar's mixed bag of fortunes has resulted in a price drop in some goods. However, rising production and transportation costs in India often outweigh the currency advantage.The Indian rupee has hit an all time low against the Emirati currency and the US dollar, reaching 24.6 against the dirham and 90.4 against the greenback.Shuaib Alhammadi, director of community relations, Union Coop, said this is an opportunity to import more fro

Indian rupee slips to record low against UAE dirham, but RBI likely curbs losses

UAE residents can now track and improve their credit score in real-time

The way UAE residents manage and understand their credit is undergoing a major transformation with Etihad Credit Bureau (ECB) rolling out sweeping reforms designed to give customers more control over their financial data and a clearer view of how their credit behaviour shapes opportunity.

Reverse home bias and the New Year resolution that can change your wealth

Every new year begins the same way.

UAE businesses continue to remain on strong growth track

India upgrades economic growth forecasts 2025-26 to 7.4%

India's economy is expected to grow 7.4% in the fiscal year ending in March, the National Statistics Office said on Wednesday, above the government's initial projection of 6.3%-6.8%.India's first advance estimate of gross domestic product (GDP), which will undergo revisions over time as data coverage improves, will be used as a base for the federal budget due to be announced on February 1.The Indian economy grew 6.5% in 2024/25 and 9.2% in 2023/24.In nominal terms, which factor in inflation, the

Dubai gold prices at record high; 24K reaches Dh550 per gram

Gold prices hit a new record in Dubai and globally as the 24K price hit Dh550 per gram at the opening of the market on Monday.The Dubai Jewellery Group data showed 24K jumping Dh7 per gram to Dh550.25, while the 22K gold price rose Dh6.5 to Dh509.5 per gram on Monday morning.Similarly, the 21K gold price rose to Dh488.75, 18K to Dh418.75 and 14K to Dh326.75 per gram.Stay up to date with the latest news. Follow KT on WhatsApp Channels.Globally, spot ‍gold broke ⁠above the psychological milestone