Author: Suhail Hasan
Suhail Hasan
Suhail Hasan is a British businessman and entrepreneur who is the COO of Fame and guest author of Dubai News.
The payments industry in the UAE is expected to make a spectacular leap with the projected revenue to reach $27.3 billion by 2028 by BCG’s Global Payments Report 2024. However, there is a slow pace experienced in the global payments growth, the UAE has been seen to lead other countries in the GCC due to emersive technological advancement as well as right financial investment on the same. Powerful regional results when the entire global picture deteriorates But global payments revenue growth is expected to decline, with CAGR thus halving to 5 per cent by 2028 with the Middle East expected…
China now has become the third largest trading partner of the UAE and the two countries are expected to reach a new threshold of $100 billion by 2024. The “Invest in China” promotional road show which took place at the Grand Hyatt Abu Dhabi on 11-12th, seeks to capture the fact that the two countries are keen to increase the trade and investment relations beyond the current levels. The event organized by the Ministry of Commerce of the People’s Republic of China with assistance from the Chinese Embassy attracted Government officials, sovereign wealth funds, and business executives from the UAE…
The Ajman NuVentures Centre Free Zone (ANCFZ), the newest Free Zone of the UAE started its operation only two months back but currently, it has over 450 companies registered with it. Currently, ANCFZ offers incomparable speed and efficiency of doing business and has defined itself as a free zone with a focus on digitization that would meet the needs of contemporary economic agents and venture creators. As per the CEO Rishi Somaiya with freedom of over 47+ free zones across the UAE, ANCFZ will also provide an establishment process completely on paperless. Clients can sign and confirm documents with digital…
The new creation of Brand Dubai, a division of the Government of Dubai Media Office, that overlooks public art installations to reflect Dubai’s progress and the UAE’s founding fathers, is a massive art piece at the DIFC Gate. The artwork forms part of the #ZayedAndRashid campaign conducted to mark key national events such as Flag Day and Eid Al Etihad showing the public’s continuing appreciation for the visionary leaders who presided over the country’s transformation. The key concept of the installation is illuminated by the large monumental portrait measuring 50 meters, which portrays the Founding Fathers against the background of…
The Minister of Tolerance and Coexistence of the UAE, Sheikh Nahyan bin Mubarak Al Nahyan took part in the 12th WUF held in Cairo, Egypt from November 4-8. It took place under the auspices of Egyptian President Abdel Fattah El Sisi, and brought together executives from the region and around the world to promote sustainable development cooperation. Sheikh Nahyan attended the meeting on behalf of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of UAE, pointing to the country’s dedication to multilateralism, and its large involvement in the local and international discourse. He also stated that the UAE strives…
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum Crown Prince of Dubai has launched AED 16 billion road development program for 2024-2027 to upscale the roads and transport system in Dubai. The extravagant RTA project involves 22 new propositions for enhancing mobility type and convenience for 6m residents, and meeting the needs of Dubai’s systematic urbanization. While on a visit to the RTA, Sheikh Hamdan bin Rashid Al Maktoum, in the company of top official, discussed prospective expansions. Major roads include Latifa bint Hamdan Street and Al Mustaqbal Street, the proposed expansion of lanes, new bridges, and innovative…
The 15th Abu Dhabi-Singapore Joint Forum (ADSJF) was held today in Singapore where it was Co-Chaired by Khaldoon Khalifa Al Mubarak, Chairman of Abu Dhabi’s Executive Affairs Authority, and with Dr. Tan See Leng, Singapore’s Minister for Manpower and Second Minister for Trade and Industry. The Forum which is a part of the official visit of H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi was graced by ambassadors, senior officials from the two countries and delegation from the government and private sectors. From this note, it is evident that each of these objectives was…
The gross domestic product for the UAE is expected to exceed $ 5% in year 2025 as stated by Michael Bolliger the Chief Investment Officer of the Emerging Market at UBS Global wealth management. In an online press briefing with WAM, Bolliger envisions it at 4 per cent in 2024 in line with the latest assessment of the International Monetary Fund (IMF) with projection on UAE’s GDP growth rate to hit 5.1 percent in 2025. According to Bolliger, there are several trends on the international level influencing the economic expectations for the GCC countries, at least in concerns to oil…
As the Middle East’s largest hypermarket chain, LuLu Retail Holdings Plc is preparing for a massive IPO on the Abu Dhabi stock exchange that is tipped to be one of the heftiest offerings in the region for the year. LuLu’s owners intend to float 2.58 billion shares which is 25 per cent of the company’s stake, the offering opens on October 28. The true cost will be established on 6 November while the firm will go public on 14 November. Lulu Group which was started by the prominent Indian businessman AbdulRI Zamzami alias Yussuf Ali in early 1990s when the…
Over the next few years, the Dubai’s oil-rich Sheikhdom is expected to invest a whopping $100 billion in India said Indian Commerce and Industry Minister Piyush Goyal. The sectors that can hope for huge investments include renewable energy sector, power transmission projects, data centre and artificial intelligence (AI). Addressing the media during the 12th session of the India-UAE high-level joint task force on investments in Mumbai Goyal listed current investment efforts and future potential in manufacturing and other fields. At the moment, the total of direct equity investments of UAE is slightly under $20 billion while the investment in India…