Adveith Nair

Dubai kicked off the new year by scrapping a 30% tax on alcohol sales and making liquor licenses free, in an apparent move to bolster its status as the Middle East’s leading business and tourism hub.

Dubai kicked off the new year by scrapping a 30% tax on alcohol sales and making liquor licenses free, in an apparent move to bolster its status as the Middle East’s leading business and tourism hub.

(Bloomberg) -- United Arab Emirates-based technology investment firm Astra Tech bought the Gulf region’s most popular voice-calling app, Botim, taking it a step closer to creating a platform that will offer everything from instant messaging to digital payments. Most Read from BloombergUniversal Plans New Family Resort in Texas, Las Vegas Horror AttractionUS Safety Agency to Consider Ban on Gas Stoves Amid Health FearsRental Housing Is Suddenly Headed Toward a Hard LandingUS Flights Latest: Depar

Dubai-based property and retail conglomerate Majid Al Futtaim Holding LLC reported higher full-year revenue after a regional boom in tourism bolstered footfall at its malls, hotels and entertainment venues.

Sheikh Tahnoon bin Zayed Al Nahyan, the United Arab Emirates’s national security adviser and head of the country’s largest bank, is expanding his sphere of influence in the world of business. The powerful Abu Dhabi royal will become chairman of $790 billion sovereign wealth fund ADIA, following a reshuffle last week. The role atop one of the world’s largest wealth funds crystallizes Sheikh Tahnoon’s status as the region’s most influential dealmaker. Due to its sheer size, ADIA’s choices can have

Presight AI Holding Plc, a data analytics firm owned by Abu Dhabi’s G42, drew orders worth $25.8 billion for its $496 million IPO, in the latest sign of strong demand for Middle Eastern offerings.

Credit Suisse Group AG’s top shareholder has seen the value of its investment plummet by about $1 billion in a matter of months, making it one of the biggest losers in the saga that culminated in UBS Group AG agreeing to acquire the troubled lender.

(Bloomberg) -- Most Read from BloombergUBS to Buy Credit Suisse in $3.3 Billion Deal to End CrisisCredit Suisse’s $17 Billion of Risky Bonds Are Now WorthlessWarren Buffett in Contact With Biden Team on Banking CrisisCredit Suisse Said to Push Back Against UBS’s $1 Billion OfferThe One Big Winner and Many Losers of UBS’s Credit Suisse RescueCredit Suisse Group AG’s Middle Eastern shareholders, which together own about a fifth of the Swiss bank, are among some of the biggest losers in the turmoil

Die Aktionäre der Credit Suisse Group AG aus dem Nahen Osten, denen zusammen rund ein Fünftel der schlingernden Bank gehört, sind unter den größten Verlierern des Dramas, das am Sonntag in der Zwangsübernahme durch die UBS Group AG gipfelte.

The fallout from Credit Suisse's crisis is hitting Gulf investors particularly hard, underscoring their checkered history of investing in overseas banks.