GCC region is a hidden gem, offering a distinct blend of Arabic culture and history, Fahim Jalalli, CEO of Kanoo Travel, tells TRENDS in an exclusive interview.

Tourism industry accounts for 9 percent of GCC region's GDP and it is expected to grow annually at 7.7 percent. Trends looks at some of the influential industry players driving this growth.

“2024 has opened up to an interesting and promising phase of growth within our sector. As proptech leaders, we can see a more diversified demand and we are positive of the impact this will have in the months to come. We look forward to supporting the market by empowering property...

ABU DHABI, UAE- The  UAE stock markets attracted liquidity of nearly AED6.5 billion during the week's trading, with the focus mainly on stocks in the real estate, financial and banking sectors. The weekly liquidity was distributed as follows: AED4.57 billion in the Abu Dhabi market and about AED1.9 billion in...

ABU DHABI, UAE – The Abu Dhabi Department of Economic Development (ADDED) organized, in collaboration with Abu Dhabi Investment Office (ADIO), the second edition of Al Multaqa quarterly meetings, presenting business community with recent updates on the Emirate’s economy and achievements in 2023 and highlighting future opportunities. Launched in Q4-2023,...

Emirate's new tourism strategy aims to increase the sector’s contribution to GDP from $13.34 billion in 2023 to $24 billion by 2030.

This helps EasyLease expand its presence in mobility sector.

Abu Dhabi, UAE -- The value of real estate transactions in Abu Dhabi reached AED 15.9 billion ($4.32 billion) during the first quarter of 2024 (Q1 2024), recording 5,127 sales and mortgage transactions on various types of real estate units. According to data from the DARI platform of the Department...

The two will work to develop AI-based banking capabilities.

Arcera will aim to improve the quality of "human life."

ABU DHABI, UAE - The UAE insurance sector continued to grow in Q4 2023, as reflected by the increase in the gross written premiums. As of year-end, the number of licencsd insurance companies in the UAE remained at 60, the CBUAE announced in its quarterly economic report Q4, 2023. The...

The non-oil economy contributed more than 53 percent to the total GDP, with significant growth in construction, finance and insurance, transportation and storage activities. Statistics Centre - Abu Dhabi (SCAD) said the results demonstrate the economy's ability to expand thanks to diversification efforts.

Abu Dhabi, UAE – Rotana, one of the leading hotel management companies in the region with over 100 properties in the Middle East, Africa, Eastern Europe, and Türkiye (MENAT), announces on Sunday the soft opening of Dar Rayhaan by Rotana, Al Khobar, in Saudi Arabia. The opening is in line...

ABU DHABI, UAE - Sheikh Hamdan bin Zayed Al Nahyan, Ruler's Representative in Al Dhafra Region, said that under the leadership of President Sheikh Mohamed bin Zayed Al Nahyan the Emirates is at the forefront of leveraging cutting-edge technologies like AI to drive sustainable growth and progress, particularly in the...

The company's revenue grew by 40 percent year-on-year.

ABU DHABI, UAE – The Abu Dhabi Chamber of Commerce and Industry (ADCCI) has formed a working group specifically for startups and small and medium-sized enterprises (SMEs) here.   This initiative aims to support and represent the interests of these businesses in the region. The goal is to make Abu...

ABU DHABI, UAE – Abu Dhabi National Energy Company (TAQA), together with JERA Co., Inc on Thursday announced that they have entered into a power and steam purchase agreement with Saudi Aramco Total Refining and Petrochemical Company (SATORP), a joint venture company owned by Saudi Arabian Oil Company (Saudi Aramco)...

Abu Dhabi, UAE--The Abu Dhabi Chamber of Commerce and Industry has signed an agreement with the UAE International Investors Council to collaborate in investment and futuristic economic sectors. According to the agreement, the Abu Dhabi Chamber and the Council will exert their best efforts to eliminate any obstacles that may...

Abu Dhabi, UAE -- SeaWorld Yas Island, Abu Dhabi, has been recognized as the largest indoor marine life theme park globally. Covering a sprawling expanse of over 183,000 square meters and spanning five indoor levels, this facility stands as the inaugural marine life theme park in the region. Featuring eight...

Dubai, UAE--Lapita, Dubai Parks and Resorts, has reported a surge in demand, bookings from across leisure and corporate segment last year, With its convenient location between Dubai and Abu Dhabi, expansive outdoor spaces, word-class facilities that include seven meeting rooms, and the Tamure Ballroom able to accommodate up to 700...

Dubai, UAE - As China's outbound tourism steadily rebounds from the pandemic's impact, the Middle East is emerging as a preferred destination for Chinese travelers, alongside traditional hotspots like Thailand and Malaysia. Data from online travel agencies including Ctrip, Tongcheng, Tuniu, Mafengwo, and Zuzuche indicates a significant rise in Chinese...

ABU DHABI, UAE – SeaWorld Yas Island - the region’s first Marine Life Theme Park here -, has won a coveted place in the Guinness World Records as the “Largest Indoor Marine-Life Theme Park” in the world. The certificate was presented to Mohamed Abdalla Al Zaabi, Group CEO of Miral,...

The company had posted its highest-ever net profit of $109.1m for 2023.

ABU DHABI, UAE – Minister of Economy and Chairman of Investopia Abdullah bin Touq Al Marri attended the unveiling of a new investment fund valued at US$10 million by the IOTA Ecosystem DLT Foundation during Investopia 2024. The fund's primary goal is to promote the development of TradeTech solutions and...

EGA is to buy 100 percent of firm from Leichtmetall Holding.

ABU DHABI, UAE – Bayanat AI PLC and Al Yah Satellite Communications Company each issued a circular on Thursday calling for their General Assembly Meetings (GAMs) to be held simultaneously on April 25 2024. During the GAMs, respective shareholders of each entity will vote on the proposed merger of the...

Abu Dhabi, UAE -- Real estate deals worth AED 87.1 billion ($23.71 billion) were recorded in Abu Dhabi during 2023, according to the Abu Dhabi Real Estate Centre (ADREC), a dedicated affiliate of the Department of Municipalities and Transport (DMT). The value of buying and selling activities surged by 159.5...

Abu Dhabi, UAE:  A total of 70.81 percent of companies anticipate expanding their workforce in Abu Dhabi Global Market during 2024, with 29.93 percent expecting significant increases and 40.88 percent planning moderate growth in staffing, a study said. According to the study by ADGM, the international financial center (IFC) of...

Masdar to buy 50 percent stake in Terra-Gen from ECP.

ABU DHABI, UAE – The United Arab Emirates has solidified its position as a leading regional and global player in foreign direct investment, said Jamal Bin Saif Al Jarwan, Secretary-General of the UAE International Investors Council (UAEIIC). He estimates the total value of Emirati investments abroad, encompassing both government and...

Abu Dhabi, UAE -- A three-bedroom penthouse at Nobu Residences on Saadiyat Island was sold for a record AED137 million ($37.30 million) by real estate developer Aldar. Aldar said the sale represents the highest price per square meter achieved in the emirate, at more than AED96,000 per sqm. The record...

ABU DHABI, UAE – The United Arab Emirates and Hungary have signed an economic cooperation agreement aimed at stimulating trade and investment between the two nations.   The agreement was signed in the Hungarian capital Budapest by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and...

ABU DHABI, UAE – The Artificial Intelligence and Advanced Technology Council (AIATC) announced on Monday the creation of MGX, a technology investment company to enable the advancement and deployment of leading-edge technologies intended to improve the lives of current and future generations. Mubadala and G42 will serve as foundational partners...

Abu Dhabi, UAE - The UAE has been elected the Vice Chair of the UNESCO's Intergovernmental Committee (IGC) for the Protection and Promotion of the Diversity of Cultural Expressions for 2025. The appointment acknowledges the UAE’s contributions to cultural diversity and its role in fostering a multicultural and civilized tapestry...

ABU DHABI, UAE – Abu Dhabi Commercial Bank (ADCB) has approved the Board of Directors proposal to distribute a cash dividend of US$0.15 (AED0.56) per share, translating to a total pay-out of US$1.1 billion (AED4.099 billion) equivalent to 50 percent of its 2023 net profit. This came as the ADCB...

Abu Dhabi, UAE--The UAE Ministry of Defence and Masdar have signed an agreement to develop multi-solar plants across Abu Dhabi. Emerge, a joint venture between the UAE’s Masdar and France’s EDF Group, will provide a full turnkey solution for the projects, including finance, design, procurement, construction, operations, and maintenance for...

The company’s 2023 annual revenue rises to US$1.2 billion.

They will utilize outdoor media-leasing spaces for advertising.

Abu Dhabi, UAE--The MENA region's commercial aircraft services market will more than double in value by 2042, according to Airbus’ latest Global Services Forecast (GSF). Growing to US$28 billion from US$12 billion, and registering a 4.4 percent average annual growth, the regional expansion will surpass the global average growth of...

It will make next-generation radar systems in UAE.

The duration of each contract is of 22 months.

Abu Dhabi, UAE--The 13th Ministerial Conference (MC13) of the World Trade Organisation (WTO) has concluded with the acceptance of Abu Dhabi Declaration, a landmark document securing important new trade agreements that will extend the benefits of the global trading system to more nations. Following a week of intensive negotiations, Dr...

Speaking at the closing press conference, the Emirati chair of the so-called MC13 gathering, Thani Al Zeyoudi, acknowledged the shortcomings. "Despite our best efforts, we failed to agree on some texts which are of great importance to many of our members," said Al Zeyoudi, who also serves as the UAE's foreign...

The bank achieved a Return on Equity of 27.1 percent.

ABU DHABI, UAE- Gold prices hovered near a month high on Friday after data suggested easing US price pressures, while traders awaited remarks from several Federal Reserve officials. According to Reuters, spot gold edged 0.2 percent higher to $2,047.29 per ounce, as of 0635 GMT, after hitting $2050.59 on Thursday...

ABU DHABI, UAE – World trade ministers were locked in disagreement Thursday on fisheries subsidies, agriculture and digital customs duties as a major WTO conference was extended beyond its scheduled deadline. With no signs of a breakthrough at the World Trade Organization's 13th ministerial conference (MC13) in Abu Dhabi, officials pushed...

ABU DHABI, UAE - Abu Dhabi’s residential sector has witnessed one of the best years on record, where a total of 11,200 units were sold across the capital, up 83 percent y-o-y. The increase in demand for residences has been driven by several positive initiatives and announcements by the government,...

Abu Dhabi, UAE - The number of AI companies registered in Abu Dhabi grew at a compound annual rate of 67% between 2021 and 2023A, a new study developed by the Business & Economics Intelligence Sector at the Abu Dhabi Chamber of Commerce and Industry revealed. The increase further bolsters...

Abu Dhabi, United Arab Emirates -- A US-led push to reform the World Trade Organization's embattled dispute settlement system sparked divisions at a WTO meeting Wednesday, with India accusing Washington of bringing the trade body to a "standstill". A working session on dispute settlement reform was held on the third day...

In January, Israel's cabinet approved an additional 55 billion shekels ($15 billion) to meet the cost of the war, while the mobilization of reservists and the displacement of communities on the borders with Gaza and Lebanon have disrupted the economy. Confronted with the conflict, Arab countries that have normalized relations...