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Dubai International Financial Centre records best performance in 17-year history
17.02.2022: ...driving Dubai's next phase of growth
Dubai International Financial Centre (DIFC), the Middle East, Africa and South Asia region's leading global financial centre has reported its best annual performance to date.
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...driving Dubai's next phase of growth
Dubai International Financial Centre (DIFC), the Middle East, Africa and South Asia region's leading global financial centre has reported its best annual performance to date.
DIFC further reinforced its global profile with a year of strong growth against the backdrop of the worldwide pandemic. The Centre achieved its 2024 Strategy growth targets three years ahead of schedule during the first half of 2021. DIFC recorded 996 company registrations last year, the highest ever recorded in a single year for the Centre, a 36% increase from 2020. The growth in company numbers is more than triple the average number across the last decade.
The total number of active registered firms operating in DIFC increased by 25% to 3,644 entities from 2,919 in 2020. A total of 1,124 financial and innovation related entities are now active and operating within DIFC, increasing by 23%, versus 915 in 2020.
Amongst its 3,644 entities, DIFC is home to 17 of the world's top 20 banks, 25 of the world's top 30 global systemically important banks, five of the top 10 insurance companies, five of the top 10 asset managers and many leading global law and consulting firms.
Significant growth has been achieved across business sectors, including banking, capital markets, wealth and asset management and professional services. Exponential numbers of new clients came from the FinTech and Innovation sectors. In 2021, these increased to 503 from 303 in 2020.
Notable firms joining DIFC in 2021 included: Air Liquide Middle East & India Holding Limited, BentallGreenOak Advisors (UK) LLP, DP World Financial Services, Dual Corporate Risks Limited, General Reinsurance AG, Howden Insurance Brokers Limited, Hines, Mamopay, Richemont and Thunderbird Global Innovation Center.
Employment grew by 11% to 29,700, with a net increase of around 3,000 employees, indicating the highest net growth in over a decade. These jobs represent a high-skilled workforce, across 150 nationalities who have the highest contribution to GDP per person across all economic sectors in Dubai.
In 2021, DIFC also recorded its highest ever annual revenue and operating profit. Revenue increased by 16% to AED 897 million year-on-year versus AED 774 million in 2020, and up by 7% from AED 838 million in 2019. Operating profit for 2021 reached AED 573 million, an increase of 26% versus AED 457 million in 2020 and up by 13% compared to AED 510 million in 2019.
Dubai International Financial Centre also photo
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Saudi Arabia unveils more than US$6.4 billion in technology and startup investment at LEAP22
03.02.2022
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| Saudi Arabia announced today more than US$6.4 billion in investments in future technologies and entrepreneurship that will further secure the Kingdom's position as the MENA region's largest digital economy. The announcements were made at LEAP22, the new international technology platform taking place in Riyadh.The investments and initiatives in more >> |
MAWANI boosts Kingdom's bid to become global logistics hub
24.01.2022
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| The Authority pledges to scale even greater heights in 2022The Saudi Ports Authority (MAWANI) has been instrumental in strengthening the Kingdom's maritime sector in 2021, helping the nation make its mark on the global shipping and freight land more >> |
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16.01.2022
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| The ADSW Summit will take the global sustainability agenda forward and outline pathways to net zero Taking place virtually from 1:00pm GST, the ADSW Summit will feature more than 80 global leaders more >> |
Bee’ah transforms into international holding group with diverse business verticals and new visual identity
12.01.2022
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| Bee’ah, the Middle East’s sustainability pioneer, has now become BEEAH Group, adopting the structure of an investment holding company and assuming a new visual identity. As BEEAH Group, the organisation is unifying its growing businesses across industries and countries, including operations in UAE, KSA, Egypt and global joint ventures. more >> |
Expo 2020 Dubai shines bright as it bids farewell to 2021 with a shimmering ball drop at Al Wasl Plaza
03.01.2022
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| The highlight of Expo 2020 Dubai’s New Year's Eve proceedings, a magical ball drop to rival that of the famous event in New York’s Times Square, welcomed 2022 with a glittering flourish at Al Wasl Plaza at 0000 GST, accompanied by two fireworks displays that lit up the night sky. more >> |
The Festive Season Launches at Mall of the Emirates with a Powerful Message for the Future
14.12.2021
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| - Visitors can pledge to live a more sustainable life with a unique and immersive carbon neutral festive tree installation- Supporting the UAE as it rides the crest of a global sustainability waveThe most wonderful time more >> |
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23.11.2021
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| New real estate projects with Emaar for Automobili Lamborghini
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SKODA AUTO is a partner of the Czech Republic’s appearance at EXPO 2020 in Dubai
05.11.2021
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| ŠKODA AUTO is supporting the Czech Republic’s participation at EXPO 2020* in the United Arab Emirates as a partner.
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11.10.2021
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| Region’s first combined online and on-site Esports racing event launched as part of #NoFilterDxb Caption: Ryan Trutch – Managing Di more >> |
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05.10.2021
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| In the most prominent trends for real estate in Saudi Arabia, residential mortgages grew 10x since H1 2016, while prime office rates recovered to pre-pandemic levels.
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Vaping retailers urged to step up efforts to fight illicit trade, block sales to minors
27.06.2021
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| Leading UAE retailer works with World Vape Show to educate industry on self-regulation and need to back official health driveCaption: My Vapery’s Atif Amin: “We must work together to prevent e-cigarettes from b more >> |
Dubai launches first of its kind green hydrogen project
24.05.2021
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| GreenHydrogen ProjectThe country’s first green hydrogen plant is being developed in collaboration with DEWA, Expo 2020 and Siemens Energy.Dubai’s first green hydrogen project was launched more >> |
First hotels in NEOM to open by end of 2022
21.05.2021
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| Saudi Arabia also plans to launch 15 hotels in NEOM each year from 2023 to 2025, according to NEOM tourism chief Andrew McEvoyHotels in Saudi Arabia’s USD 500 billion planned zero-carbon megacity NEOM could open by the end of next year, according to reports. more >> |
World Vape Show: New Dubai event turns spotlight on spiralling e-cigarette industry
28.03.2021
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| World Vape Show puts multi-billion market under microscope amid growing demand for alternatives to traditional tobaccoCaption: Mo Hassan, Managing Director of Dr Vapes, says the World Vape Show provides an amazing platform for t more >> |
Cityscape Intelligence's most influential people in the MENA real estate industry
25.01.2021
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| Top 20 Power ListBased on nominations received from the MENA’s real estate sector, these 20 real estate leaders have either shaped the real estate market in the Middle East or risen to the challenges of a disruptive year by exhibiting exceptional resolve in their company and industry. more >> |
UAE investors can capitalise on growth trends in Israeli high-tech market - report
24.01.2021
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| Maturing Israeli tech companies look to capital markets in 2021 after foreign investment drives industry’s record-breaking yearCaption: Shira Azran - partner at Meitar Law Offices.Strong incentives for UAE investors to t more >> |
Industry input needed into what is taught in schools, says UAE careers expert
09.12.2020
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| More leading players urged to follow lead of Culligan Middle East in helping shape student career paths Caption: Rodger Macfarlane, Technical Director of Culligan Middle EastA UAE caree more >> |
6 digital trends that will change the future of workplaces in the Middle East
07.12.2020
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| According to CallisonRTKL, successful workplace transformations for the future evolve around three key components: people, place and purposeGlobal architecture, planning and design firm, CallisonRTKL (CRTKL) has revealed six key trends on how technology can more >> |
Travel and Tourism: Four macro-trends that will lead to recovery and beyond
30.11.2020
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| Focus on sustainability, demand evolution, health and hygiene, and innovation and digitization to aid recovery of travel and tourism sectorA globally coordinated approach is needed for the travel and tourism sector to recover from the COVID-19 pandem more >> |
Race is on for City Walk title as Motorsport gets new dimension in Dubai with eSports
25.11.2020
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| New E-Motorsports Tournament carrying a prize pool of AED 20,000 is first in a series planned for UAE enthusiastsCaption: The City Walk 2020 E-Motorsports Tournament, with a prize pool worth AED20,000 is the first in a series of events more >> |
UAE businesses urged to follow WHO legionella guidelines to avoid health risks
24.11.2020
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| Culligan says cost cutting is bringing reduction in testing as more businesses turn waster systems back onUAE businesses are being urged by water experts to observe World Health Organisation (WHO) guidelines on Legionella and avoid cost cutting in order to prevent health risks. more >> |
"Real estate developers must invest in technology" says Devmark Group
23.11.2020
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| During a panel discussion at the Cityscape’s Real Estate Summit, representatives from Devmark, ThinkLab and eiight underscored the importance of UAE developers bridging the technology gap in the real estate industryDevmark Group, the recen more >> |
Cityscape's Real Estate Summit officially opened its doors today
16.11.2020
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Cityscape’s Real Estate Summit opened its doors today, with His Excellency Mattar Mohammed Al Tayer, Director-General, Chairman of the Board of Executive Directors of the Roads and Transport Authority, inaugurating the one-off edition of the annual event more >> |
Career in water treatment can lead to key role in developing vital new technology
30.10.2020
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| Dubai’s ‘water doctor’ turns spotlight on essential water hygiene for students at university’s virtual career fairRodger Macfarlane, the chemical engineer who has become one of the Middle East’s leading water treatment experts, says a career in making water safe offers students a wealth of opportunities to help develop more >> |
Water experts sound warning over hygiene as Covid restrictions relax in the Gulf region
24.10.2020
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| Culligan Middle East questions if sufficient legionella testing is being carried out as water systems shut down for months are switched on againphoto: Rodger Macfarlane – technical director, Culligan Middle East more >> |
Make water the solution to your problems
29.09.2020
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| Worn out by the effects of the coronavirus? Worried about job security? Eager to strengthen your immune system? Drink more water!Caption: Rodger Macfarlane – Technical Director Culligan Mi more >> |
Proper hydration in the workplace vital to boost business, says Culligan
23.09.2020
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| Water strengthens immune system, aids productivity, but many still don’t drink enough and performance suffers, UAE companies toldphoto caption: Rodger Macfarlane – Technical Director Culligan Middle East. more >> |
Exhibitions to play critical role in post−covid world as Dubai re−starts events industry – study
17.08.2020
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| Dubai perceived as safest destination to host global exhibitions and conferences according to surveyDubai is seen as the safest location to host international exhibitions and conferences in the coming months, while trade fairs will play a critical ro more >> |
Dubai’s drive to re-open for tourism gets five-star rating
19.07.2020
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| photo caption: The Grand Plaza Movenpick Media City – working with Culligan to deliver new health and safety measures.Movenpick GM says positive signals increase on daily basis as Culligan plays key health and safety role more >> |
Culligan ramps up sanitiser production to meet Middle East, Africa demand
12.07.2020
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| Water treatment specialist Culligan Middle East has ramped up production of a sanitiser at its Dubai manufacturing plant to meet demand from Africa and other GCC countries.Caption: Rodger Macfarlane: “We’ve literally quadrupled our production more >> |
Safety report backs Culligan switch to produce sanitiser in response to pandemic
06.07.2020
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| Culligan Middle East has earned safety approval from an independent research specialist for the sanitiser developed in the UAE when the company created a new product line in response to the Covid-19 pandemic.Caption: Rodger Macfarl more >> |
Dubai lab breakthrough helps build safety in the workforce
02.07.2020
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| Culligan chemical research experts turn water treatment product into multi-purpose protection for businessphoto caption: Rodger Macfarlane: “We’re pleased to be playing our part in helping business recover.” more >> |
Meditation a necessity to combat crisis, says Dubai Yoga teacher
03.06.2020
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| Sanjeev Krishna, coach to government officials, business leaders, says yoga can help bosses handle mounting pressures much betterCaption: Sanjeev Krishna – says meditation now is not an option, but a necessity. more >> |
Saudi creates golden age for Startups, but there are no short cuts to success, says young Arab entrepreneur
29.01.2020
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| photo caption: JustClean Co-Founder Athbi Al-Enezi – “It’s vital to have passion for what you are doing as well as belief and drive in what you are trying to achieve in business.”JustC more >> |
Saudi is prime hub for startups in Middle East, and online business knowhow is booming, says young entrepreneur
10.12.2019
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| JustClean co-founder says Kingdom made it easier than any other Gulf country to set up businessphoto caption: JustClean Co-Founder Athbi Al-Enezi – says understanding of online business is more >> |
The UAE and its key players love their supercars, so SUPERFUTUREDESIGN* decided to create the SUPERCAR CAPSULE
09.12.2019
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| ... a unique concept that gives your expensive toys a centre stage to captivate the audience. Developed by a team of architects and designers for a taste of bespoke luxury, which includes supercars. Their passion for spectacular supercars has led them to create a distinct spatial design that enhances the car’s features. After all, your luxury more >> |
Al Tayer Motors Proudly Opens State-of-the-Art Ferrari Showroom in Dubai
04.12.2019
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| Facility among the world’s largest for the Prancing HorseAl Tayer Motors, the official Ferrari importer in the UAE, confirms its commitment to deliver unparalleled customer experiences to their Ferraristi within the country. T more >> |
Faith Capital invests in Justmop’s home cleaning platform
25.11.2019
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| ...as GCC’s $2.5 billion home cleaning space booms photo caption: (back L to R) JustClean Co-Founder Nouri Al-Enezi, CEO Mohammed Jaffar and Co-Founder Athbi Al-Enezi (front) Justmop Co-Founder & CEO Ali Cagatay Ozcan and Co-Found more >> |
JustClean Technology company expanding across Gulf into overseas markets is building for IPO
13.11.2019
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| JustClean campaign to mark regional growth gives customers chance of $5,000 cashphoto caption: JustClean CEO Mohammed Jaffar (left) with Co-Founders Nouri and Athbi Al-Enezi. more >> |
