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DFSK launches the Fengon SUV range for the first time in the UAE powered by Green Motors

DUBAI/ GULF TIME Green Motors, the sole authorized dealer of DFSK introduces a wide range of FENGON SUV cars for the first time in the UAE. The Fengon range of cars were unveiled at the Green Motors showroom in Dubai boasting of rich intelligent configurations powered by DFSK car technology designed to provide you convenience and agility embedded with optimum ...

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ADIB net profit jumps 45% to AED5.25 bn in 2023

ABU DHABI/ WAM Abu Dhabi Islamic Bank (ADIB) reported a growth in net profit of 45 percent for 2023 to AED5.25 billion from AED3.62 billion in 2022, reflecting a consistent trend of strong growth. Net profit for Q4 2023 reached AED1.5 billion with 29 percent growth versus Q4 2022. In a statement ADIB stated that revenue for 2023 improved by ...

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Ford slashes workforce making electric F-150s on weak demand

BLOOMBERG Ford Motor Co said that it would reduce the number of workers making its F-150 Lightning truck as demand for electric vehicles continues to weaken. About 1,400 employees will be impacted as the Rouge Electric Vehicle Center transitions to one shift beginning from April 1, the Dearborn, Michigan-based automaker said. The company said it expects continued growth in global ...

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Dubai continues its economic surge with 3.3 percent GDP growth in Jan-Sep 2023

DUBAI / WAM Dubai has registered a 3.3 percent rise in the real gross domestic product (GDP) in the first nine months of 2023, further demonstrating its economic strength, resilience and robust growth potential. The achievement reflects the city’s sustainable development strategies and its continued dynamism as a leading global economic powerhouse. From bustling tourism hubs to tech-powered communications networks, ...

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Over 7,800 companies join Rakez’s business community in 2023

RAS AL KHAIMAH / WAM Ras Al Khaimah Economic Zone (Rakez) registered over 7,800 new companies in its thriving business community in 2023, representing 86 percent increase in new registrations compared to the previous year, further underscoring Rakez’s enduring appeal as the go-to destination for entrepreneurial success Reflecting on this economic expansion, Ramy Jallad, Rakez Group CEO, stated, “The latest ...

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ADGM, Mastercard to empower UAE’s dynamic SME community

ABU DHABI / WAM Abu Dhabi Global Market (ADGM) and Mastercard have announced a collaboration to fuel the growth of the booming small and medium enterprise (SME) sector in Abu Dhabi and the wider UAE by digitalising SME payment flows. The partnership will empower SMEs to meet their growth potential through Mastercard’s technologies and resources. Under the collaboration, Mastercard and ...

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Under the patronage of Sheikh Theyab, WED Innovation Lab launches in Abu Dhabi

ABU DHABI / WAM Under the patronage of HH Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Chairman of the Office of Development and Martyrs Families Affairs at the Presidential Court, and Chairman of the Abu Dhabi Early Childhood Authority (ECA), the WED Innovation Lab activities kicked off today in Abu Dhabi. The initiative is a milestone activity that reflects ...

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