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The price of 22K gold in Dubai has surged nearly Dh20 over the past 20 days, reaching Dh319.5 per gram on February 28, marking the lowest point in that period. A jewellery retailer noted that such rapid increases, which previously took months, are now occurring in just days.
Abu Dhabi has partnered with Microsoft and G42's Core42 to establish a sovereign cloud system aimed at enhancing government services. This initiative will support over 11 million daily digital interactions and aligns with the emirate's ambition to become the world's first fully AI-native government by 2027. As part of the Abu Dhabi Government Digital Strategy 2025-2027, the emirate plans to invest 13 billion dirhams (US$3.5 billion) in digital infrastructure.
The Dubai AI Festival will return on April 23-24, 2025, at Madinat Jumeirah, showcasing Dubai's commitment to AI innovation and economic growth. Expected to attract over 8,000 industry experts and 100+ speakers, the event will explore AI's transformative impact across various sectors, emphasizing responsible deployment and ethical challenges. Registrations are now open for this pivotal gathering of global leaders and innovators in artificial intelligence.
Abu Dhabi has partnered with Microsoft and G42 to pursue its ambition of becoming the world's first fully AI-native government by 2027. This initiative is part of the Abu Dhabi Government Digital Strategy 2025-2027, supported by a Dh13 billion ($3.54 billion) investment aimed at deploying over 200 AI-powered solutions to enhance public services and operational efficiency.
Dubai has enacted new regulations allowing free zone companies to expand into the mainland by opening branches, contingent on obtaining a license from the Department of Economy and Tourism. This initiative aims to boost investment and economic growth, with licenses requiring annual renewal and separate financial records for operations outside the free zone. The resolution, issued by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, excludes financial institutions under the Dubai International Financial Centre and mandates inspections in line with federal and local laws.
National Bonds' sukuk investments surged 22% to Dh15.8 billion ($4.2 billion) in 2024, with returns of Dh588 million distributed to holders, averaging 4.02%. The company saw a 51% increase in regular savers and a 41% rise in digital savings, driven by enhancements to its mobile app. Additionally, National Bonds is set to launch end-of-service benefits programs in collaboration with the Ministry of Human Resources and Emiratisation.
Checkout.com has partnered with Tabby to enhance BNPL payment solutions for merchants in the UAE and Saudi Arabia. This integration allows merchants to offer flexible payment options, catering to the growing consumer demand and improving conversion rates and shopping experiences. With BNPL adoption rates at 39% in the UAE and 42% in Saudi Arabia, the partnership aims to simplify payment processes for merchants while providing access to over 15 million shoppers.
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum has announced a new regulation allowing Dubai free zone businesses, excluding financial institutions under the Dubai International Financial Centre, to expand operations into the mainland. This expansion requires necessary approvals from the Dubai Department of Economy and Tourism.
Checkout.com has partnered with Tabby to enhance buy-now-pay-later (BNPL) solutions for merchants in the UAE and Saudi Arabia. This collaboration enables businesses to offer consumers more flexible payment options at checkout, addressing the rising demand for BNPL services in the region. The integration merges Checkout.com’s payment technology with Tabby’s financing solutions.
Forbes Middle East has unveiled its Top 40 Asset Managers for 2025, highlighting leaders who collectively managed over $439 billion in assets in 2024. Rashed Sharif of SNB Capital retains the top spot with $63.73 billion in AUM, followed by Mohammed Alardhi of Investcorp at $53 billion. Saudi Arabia dominates the list with 19 representatives, showcasing the region's growing influence in real estate, sukuk, and private equity.
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