The company invites visitors to enter the next digital universe with the soft launch of its virtual world — e& universe &, formerly known as Etisalat Group, is set to enthral visitors at Gitex Global 2022 by inviting them to enter the next digital universe with the soft launch of its virtual world — e& universe. Hatem Dowidar, Group CEO, e&, said this move marks a significant achievement in the group’s transformation journey to a global technology and investment conglomerate, as it takes its first steps into the metaverse. “Metaverse technology may be in the early incubation stages, given that it needs high-bandwidth and low-latency communications to work at scale. Still, telcos must consider harnessing its potential for the betterment of lives, whether it is a virtual playground or shopping destination, or even using it as a training ground for smarter, more efficient AI and industrial manufacturing processes. To get it to work at the grand scale we all envision will...

Lender's estimate for Emirates' non-oil economy has been revised upward to 4.7% in 2022 from 4.1% Aerial view of Abu Dhabi. Business activity in the UAE's non-oil private sector economy has bounced back strongly in 2022. Courtesy: DCT Abu Dhabi Emirates NBD has raised its economic growth forecast for the UAE to 7 per cent for 2022, due to a higher estimate for the energy industry's output and the "robust growth" of its non-oil sector, setting up the country for its fastest annual expansion in over a decade. The latest revision from Dubai's biggest lender compares with an earlier 5.7 per cent estimate and would be the highest since 2011, when the economy grew by 6.9 per cent. Last week, Abu Dhabi Commercial Bank raised its UAE growth forecast for this year to 6.2 per cent from an earlier 6.0 per cent estimate, largely on the back of strong real non-oil GDP growth. The UAE economy is expected to grow by 5.4 per cent and 4.2 per cent in 2022 and 2023, respect...

UAE ranks top globally in brand performance. UAE ranks top globally in brand performance The UAE  ranked highest globally in 2022 in terms of brand performance, thanks to the government's successful response to the Covid-19 pandemic that allowed the country to open for business sooner than many other destinations, a report has found. The Emirates has also attracted a higher volume of trade,  tourism ,  investment  and talent than other nation brands, according to the  latest report by consultancy Brand Finance . The UAE is a "positive exception" as brand performance has not yet returned to its  pre-pandemic levels  for most nations in the ranking, the report said. With global interactions in the crucial areas of trade, investment, tourism and talent attraction down across the board throughout 2021, most brand strength scores remain held back by the legacy of the pandemic, it said. However, the UAE has bucked the trend and topped the charts with a score...

  Masdar and Abu Dhabi Ports will collaborate to develop a framework that will allow investors in Abu Dhabi to expand their business operations across the zones under their management. Khushnum Bhandari for The National Masdar and Abu Dhabi Ports sign agreement to support Abu Dhabi Economic Vision 2030 Masdar and Abu Dhabi Ports Company signed an agreement which the pair said would support the local economy and help achieve the objectives of Abu Dhabi Economic Vision 2030. As part of the agreement, Masdar and Abu Dhabi Ports, representing its subsidiaries Khalifa Industrial Zone Abu Dhabi (Kizad) and Abu Dhabi Free Zone, will collaborate to develop a framework that will allow investors in Abu Dhabi to expand their business operations across the zones under their management, while also reducing costs and increasing the competitive advantage of the emirate. The companies will also work together in the areas of sustainability, renewable energy and innovation. “Masdar is comm...

  Dubai International Financial Centre aims to triple its size by 2024. Sarah Dea / The National The rise in gross written premiums applies to a variety of sectors including marine, aviation, transport, health and property damage The Dubai International Financial Centre's reinsurance sector grew 17.4 per cent in 2019, as gross written premiums reached $2 billion (Dh7.34bn) representing the highest volume ever in the market. “Our strong performance in the reinsurance sector in the first quarter of 2020 and throughout 2019 stems from our long-standing commitment to the sector,” Arif Amiri, chief executive of DIFC Authority, said. “While providing the most proven legal and regulatory frameworks for insurance and reinsurance leaders in the region, our approach also allows InsurTech start-ups to collaborate with top reinsurance leaders in DIFC to address tomorrow’s requirements.” In the first quarter of this year, gross written premiums reached $472 million, on ...

Emirates and United Expand Market Presence Through New Agreement Emirates and United Expand Market Presence Through New Agreement Emirates and United have announced a historic commercial agreement that will enhance each airline’s network and give their customers easier access to hundreds of new destinations* within the United States and around the world.   From November, Emirates customers flying into Chicago, San Francisco, and Houston - three of the biggest business hubs in the U.S – will be able to easily connect onto United flights to and from nearly 200 cities across the Americas on a single ticket.   At the eight other U.S. airports served by Emirates – Boston, Dallas, LA, Miami, JFK, Orlando, Seattle and Washington DC – both airlines will have an interline arrangement in place.   United will launch a new direct flight between Newark and Dubai starting in March 2023 – from there, customers will be able to travel on Emirates or its sister airline fly dubai to more th...

Global Tech Players and the Wider Metaverse Community Gather to Discuss and Showcase the Potential of this New Immersive World Global Tech Players and the Wider Metaverse Community Gather to Discuss and Showcase the Potential of this New Immersive World Dubai Metaverse Assembly will be organized by Dubai Future Foundation (DFF), under the patronage of H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of the Executive Council and Chairman of the Board of Trustees of the DFF, on 28-29 September at the Museum of the Future and AREA 2071. The first-of-its-kind regional event will host 300 global experts and more than 40 organizations specialized in metaverse and virtual worlds applications. As one of the region’s largest specialized events, the flagship event will explore the digital economy and identify how governments, businesses and communities can unlock the unlimited potential of the metaverse to create a bolder future. More than 30 local and inter...

 UAE ranks among 50 top start-up destinations, says report Dubai is the undisputed tech leader city in the Arab world, said Startup Blink in its report. Chris Whiteoak / The National The UAE, the Arab world’s second-largest economy, was ranked among the 50 top destinations for start-ups in the world, according to a report. The country gained the highest ranking among Arab nations at 43rd, although this was three places lower than last year, according to a list of the 100 best countries for start-ups by Zurich-based research company StartupBlink. “As an entrepreneur, location will greatly influence the chances your start-up will succeed,” Eli David, chief executive of StartupBlink, said. “Good start-up ecosystems are fundamental ... they create jobs, boost the economy, increase tax revenue, improve quality of life and urban innovation and attract talent,” he added. Major gainers in the Arab world included Jordan, which jumped six places to 67th, Lebanon climbed e...