Abu Dhabi Ports announces expansion of free trade zone

kizad abu dhabi freezone

The free zone to attract a wide range of industries to boost diversification ABU DHABI FreeZone Abu Dhabi Ports on Tuesday announced the expansion of free trade zone to accommodate more industries. Khalifa Port Free Trade Zone (KPFTZ) is a 100 square kilometre free zone area located adjacent to Khalifa Port. “KPFTZ provides numerous advantages Read more


27.7% Increase in Net Profit of Dubai Silicon Oasis Authority in 2016

Dubai Silicon Oasis Authority

His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Silicon Oasis Authority (DSOA), today announced that Dubai Silicon Oasis (DSO) has successfully transformed into a preferred integrated destination for IT companies and entrepreneurs, and an exemplary pioneer of the smart city model. The announcement followed the release of DSOA’s yearly results that showed Read more


UAE economy minister optimistic about growth in 2017

Al Mansouri expects GDP growth to be between 3.5 to 4 per cent Abu Dhabi: The UAE’s Minister of Economy Sultan Bin Saeed Al Mansouri expressed optimism yesterday that the economy will continue to grow this year, boosted by higher oil prices. However, he also cautioned growth will depend on a number of factors including Read more


Hong Kong keen to invest in UAE startups

Hong Kong is very keen to invest in the growing UAE startup industry and is open to facilitate cross border investments in key economic sectors, said Abdul Aziz Nasser, deputy director, Middle East, HKTDC on Tuesday. “Hong Kong Trade Development Council (HKTDC) realises the strong ties between UAE and Hong Kong industry and urges the Read more


IT spending in Mena to reach $155.8b in 2017


Gartner expects 2.4% spending growth after flat 2016 Dubai: IT (Information Technology) spending in the Middle East and North Africa is expected to rise 2.4 per cent in 2017 to reach $155.8 billion, driven by sectors such as banking, securities, and communications driving that growth. According to the latest forecast from Gartner, an IT research Read more


DIFC, Gujarat International Finance Tec-City sign

Difc dubai

In an effort to encourage further cooperation and collaboration between the financial centres, Dubai International Financial Centre (DIFC) has signed a Memorandum of Understanding (MoU) with Gujarat International Finance Tec-City (GIFT). The MoU calls for sharing best practices of mutual interest, exchanging information on banking, financial service and securities, legislation and regulation, cooperation in the Read more