Author: chadgazette.com
While almost four in ten UAE consumers have experienced online fraud attempts in the past year, trust and usage of digital payments both in-store and online see no signs of ceasing as consumers still prefer them over cash, citing improved technology, and security measures as reasons why they still feel more secure with these methods of payment. These findings were revealed in the 2021 Stay Secure survey conducted by Visa, Dubai Police, and Dubai Economy (DED), according to a joint press release.According to the study, the use of cash in the UAE continues to decline. While eCommerce and contactless payments…
A team of Emirati entrepreneurs have launched the first satellite to track wildlife in the UAE (Ghalib). Developed by Emirati company Marshall Intech, the satellite was successfully launched on SpaceX Falcon-9 rocket at Cape Canaveral Space Force Station, Florida.The satellite entered its orbit, 550 km above sea level. Equipped with advanced technologies, Ghalib satellite allows researchers to track wildlife and bird migration in the remote areas of country and assists in monitoring animals and conservation. The launch demonstrates the increasing role of young Emirati entrepreneurs in the UAE space industries and their contributions that enhance the country’s position as a…
To celebrate the indescribable drive and competitive spirit of all athletes and fans, Apple launched the International Collection bands for Apple Watch, featuring 22 limited-edition Sport Loop bands with colorful designs that represent those nations across the globe. Each band also features a matching downloadable Stripes watch face showcasing color combinations that customers around the world can use to personalize their Apple Watch and boldly show their country support. The soft, breathable, and lightweight International Collection Sport Loop bands are available representing the following countries: Australia, Belgium, Brazil, Canada, China, Denmark, France, Germany, Great Britain, Greece, Italy, Jamaica, Japan,…
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, approved a decision to form the Board of Directors of the Emirates Racing Authority (ERA), chaired by H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs. Sheikh Rashid bin Dalmouk Al Maktoum was named as Vice Chairman, and membership of Matar Suhail Ali Al Yabhouni Al Dhaheri, and Mohammed Saeed Rashid Ali Al Shehhi.The Emirates Racing Authority is the internationally recognized governing body for horse racing in the UAE. The ERA administers all aspects of the sport, including…
Masdar (Abu Dhabi Future Energy Company) has won a tender to build a US$174 million utility-scale solar project in Armenia. The Armenian Government had implemented an international tender following Masdar’s initial offer of $0,0299/kWh in December 2019. After a competitive process, Masdar submitted a final price of $0,0290/kWh.The 200-megawatt (MW) plant will be located in the Talin and Dashtadem communities of Armenia, in an area where solar radiation is both high and land is unusable for agricultural purposes. The project will be developed on a design, finance, build, own, and operate (DFBOO) basis and the project company will be 85…
MENA Newswire: Luxury e-commerce startup ShopWorn is on track to hit $20 million in sales by year end. Initially fueled by the revenge shopping spree begun by Chinese consumers, leading ShopWorn to open a Hong Kong satellite, American consumers are now doing their own revenge spending on ShopWorn as a sustainable alternative to buying used luxury. ShopWorn’s circular business model of acquiring past seasons’ unsold luxury watches, jewelry, leather goods and other accessories directly from luxury brands or their authorized retailers tackles a less addressed area in retail sustainability conversations: what to do with unsold inventory at the end of every season. With consumers…
Miral in collaboration with Warner Bros. Themed Entertainment announced that The WB Abu Dhabi hotel is on track to open in 2021. With a design and concept inspired by the world-famous Warner Bros. brand, the hotel, developed with a total investment of US$112 million, will complement the company’s commitment to diversifying Yas Island’s offerings and delivering unforgettable experiences for its visitors.The world’s first Warner Bros. themed hotel, operated and managed by Hilton under its upper-upscale Curio Collection by Hilton brand, is now 90 percent complete. To date, the first guestroom floors, branding and theming, as well as the ballroom, core…
As part of its endeavors to strengthen cooperation frameworks in tax matters, protect taxpayers from double taxation, and avoid impeding the flow of trade and investment, the Ministry of Finance (MoF) signed a protocol to amend the agreement for the Avoidance of Double Taxation and Prevention of Tax Evasion concerning taxes on income with Austria. The agreement was previously signed between the UAE Government and Austria in September 2003.Obaid Humaid Al Tayer, Minister of State for Financial Affairs of the UAE, and Gernot Bluemel, Austrian Finance Minister, signed the agreement on Thursday, in the presence of Dr. Andreas Liebmann, Ambassador…
DP World has announced the acquisition of 100 percent of syncreon for an enterprise value of US$1.2 billion. This transaction is subject to customary completion conditions and is expected to close in second half of 2021.Syncreon is a US based global logistics provider that specializes in the design and operation of complex supply chains for the high growth automotive and technology industries. syncreon provides specialized value-added warehousing and distribution solutions through a variety of manufacturing, export packaging, transportation management, reverse/repair and fulfillment services. syncreon has a global presence across 91 sites in 19 countries and services a large and diversified…
The impact of the COVID-19 pandemic on tourism could result in a more than $4 trillion loss to the global economy, UN trade and development body UNCTAD said on Wednesday in a report issued jointly with the UN World Tourism Organization (UNWTO). The estimate is based on losses caused by the pandemic’s direct impact on tourism and the ripple effect on related sectors, and is worse than previously expected.Last July, UNCTAD estimated that the standstill in international tourism would cost the global economy between $1.2 trillion and $3.3 trillion. The steep drop in tourist arrivals worldwide in 2020 resulted in…