• Middle East to receive millions of Chinese tourists lost in Covid pandemic

    Dubai, UAE-- Outbound travel from China is estimated to almost double this year, compared with 2023 and will only be 22% below its peak pre-pandemic numbers of 155 million tourists in 2019, who spent over $250 billion overseas, according to Oxford Economics Full recovery is expected to materialise in 2025,...
  • UAE residents anticipate full electric and hybrid vehicle takeover in coming years: survey

    Dubai, UAE - About 63% of respondents in the UAE plan to make EVs their primary mode of transport by 2025, reveals a survey by Al-Futtaim Automotive, a major division of the Al-Futtaim Group and Strategic E-Mobility Partner, The survey indicating a significant shift in UAE residents' perspectives towards electric...
  • UN COP29 host Azerbaijan sees a big boom in gas production

    Despite the last COP in the United Arab Emirates ending with an unprecedented call to "transition" away from fossil fuels, an analysis by the NGO Global Witness based on data from Rystad Energy shows that the upcoming COP29 host aims to hike its gas production from 35 billion cubic meters...
  • Global changes call for adaptable fiscal policies

    He highlights the UAE's strategic priorities, including the future of fiscal policy, the application of sustainable fiscal policies to foster financial empowerment, trust, and transparency, shaping the future, sustainable development, innovation, boosting economic growth, and fostering competitive business environments.
  • Dubai Customs new record: 17.15m international visitors in 2023

    Dubai, UAE -- In 2023, Dubai Customs managed 46.87 million bags from 206,396 flights, averaging 128,400 bags daily and played a role in the reception of a record-breaking 17.15 million international visitors. The Passenger Operations Department has over 845 inspection officers supported by 77 baggage inspection devices. Ibrahim Al Kamali,...
  • IMF chief says Israel-Hamas war ‘devastating’ Palestinian economy

    "The Palestinian economy's dire outlook is worsening as the conflict persists," managing director Kristalina Georgieva told the World Governments Summit in Dubai. "Only a durable peace and political solution will fundamentally change it".
  • Polestar 3, the electric SUV, hits the streets of the UAE

    Dubai, UAE  – Al-Futtaim Electric Mobility Company, the official distributor of Polestar in the UAE, have announced the official launch of Polestar 3, the electric SUV. Polestar 3 is also the brand’s first vehicle planned to be produced on two continents – marking a milestone in green mobility in the...
  • Dubai records over US$2.6bn in weeklong real estate transactions

    DUBAI, UAE - A total of 3,543 real estate transactions worth over US$2.6 billion (AED9.8 billion) were conducted during the week ending February 9, 2024, according to data released by the Dubai Land Department (DLD). The DLD report showed that 197 plots were sold for US$315 million (AED1.61 billion), while...
  • DMCC witnesses 10 percent rise in US companies in 2023

    DUBAI, UAE – DMCC successfully concluded its most recent Made for Trade Live tour of the US, hosting events in New York, Brooklyn and Washington DC as it continues to build on growing bilateral trade and investments between the two countries. In 2023, DMCC saw a rise of over 10...
  • Emaar 2023 revenue at $7.3bn

    Emaar property sales rose to US$ 11 billion in 2023.
  • Total M&A market drops to US$3.2trn in 2023, says report

    DUBAI, UAE - The total M&A market dropped 15 percent, to US$3.2 trillion, the lowest level in a decade, as dealmakers grappling with high interest rates, regulatory scrutiny and mixed macroeconomic signals had to be more selective about which deals to pursue in 2023. But the biggest obstacle was the...
  • WEF24: Gulf cities spearhead global investment surge

    GCC cities such as Abu Dhabi, Dubai and Riyadh showcase dynamic growth, rivalling global metropolises, says Julien Hawari, CEO & Founder of Special Edition and Million.
  • RTA inks agreement to develop entry/exit points for Dubai Harbor

    DUBAI, UAE - The Roads and Transport Authority (RTA) of the Emirate has entered into a strategic partnership with ‘Shamal Holding,’ to undertake the construction of a two-lane bridge in each direction spanning 1500 meters. The bridge extends from Sheikh Zayed Road to Dubai Harbor, an exceptional seafront district that...
  • UAE is the most popular destination for global workers, says report

    Dubai, UAE – The United Arab Emirates is the most popular country for international talent seeking employment visas, a report reveals.   The global HR platform,Deel, has released findings from its Annual Global Hiring Report and revealed UAE attracts a large number of international talent. This marks a significant milestone...
  • Dubai records weeklong real estate transactions worth $3.13 billion

    Dubai, UAE -- Dubai recorded real estate transactions valued at AED 11.5 billion ($3.13 billion) during the week ending 2 Feb 2024. The sum of transactions was 3,677. A total of 192 plots were sold for AED 2.61 billion, 2,699 apartments and villas were sold for AED 5.75 billion. The...
  • Number of millionaires in BRICS likely to rise by 85 percent in 10 years, says report

    DUBAI, UAE - The total investable wealth currently held in the BRICS bloc amounts to US$45 trillion and its millionaire population is expected to rise by 85 percent over the next 10 years, a report said.   There are currently 1.6 million individuals with investable assets of over US$1 million...
  • IMF says Red Sea shipping down one-third due to Houthi attacks

    "Container shipping... has declined by almost 30 percent," said Jihad Azour, director of the IMF's Middle East and Central Asia department, adding that "the drop in trade accelerated in the beginning of this year."
  • TECOM Group net profit up 49%

    The company recorded its highest-ever revenue of AED 2.2 billion.
  • Schneider Electric, Charge&Go ink pact

    The aim is to develop EV charging facility in the UAE.
  • DAE, Turkish Airlines ink pact

    Turkish Airlines will take on lease 10 Boeing 737-8 aircraft.
  • Dubai RTA awards US$95m contract to upgrade ticketing system   

    DUBAI, UAE - Dubai’s Roads and Transport Authority (RTA) has awarded a contract to upgrade the existing nol (card-based ticketing system) to a sophisticated, central wallet technology (account-based ticketing system), aligning with the top global practices. This project, which requires an investment of US$95 million (AED350 million), is one of...
  • Dubai launches initiative to accelerate global expansion of SMEs

    Dubai, UAE -- Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum Sunday launched the ‘Dubai International Growth Initiative’, allocating AED500 million to accelerate the expansion of small and medium-sized enterprises (SMEs) established in Dubai into global markets. The initiative was launched by the Government of Dubai in...
  • Expo City Dubai launches 10-day festival of Emirati light art and culture

    DUBAI, UAE - Dhai Dubai, the first-ever Emirati-led light art festival, has launched its illuminating 10-day program at Expo City Dubai. The event celebrates the rich artistic tapestry of Emirati through a series of awe-inspiring artistic projections, interactive installations, enlightening talks and creative workshops. The free-to-attend festival is created and...
  • Cisco identifies major AI trends for 2024

    DUBAI, UAE – Developments in Artificial intelligence (AI) have been impacting businesses, governments and economies across the world. Advancements in AI, especially generative AI (GenAI), are leading to a once-in-a-generation shift. The Cisco AI Readiness Index has revealed that 95 percent of respondents have an AI strategy in place or...
  • Dubai records weeklong real estate deals worth $3.86 billion

    Dubai, UAE -- The real estate and properties transactions valued at AED 14.2 billion ($3.86 billion) in total during the week ending 26 January 2024. The sum of transactions was 4,123. A total of 312 plots were sold for AED 2.95 billion, 2,696 apartments and villas were sold for AED...
  • Yemen-based Houthis fire missiles at ships in Red Sea, says US

    Yemen's Iran-backed Houthi rebels fired three missiles at two merchant ships in the Red Sea in their latest attack in the commercially vital waterway, the White House said. The report came after the Houthis vowed to keep up their attacks despite repeated US and British strikes against them.
  • Hub71-backed ABHI to set up global headquarters in Abu Dhabi

    DUBAI, UAE - With support from the Abu Dhabi Investment Office (ADIO), Hub71-backed ABHI, an embedded finance platform founded in Pakistan, is advancing to its next growth stage by establishing its global HQ in Abu Dhabi to grow its international operations. ABHI joined Hub71, Abu Dhabi’s global tech ecosystem, in...
  • Dubai wins right to host 349 business event in 2023

    DUBAI, UAE - Dubai consolidated its status as a central hub for international business events in 2023, with the city winning a record 349 bids to host international conferences, congresses, meetings and incentive travel programs. Driven by Dubai Business Events (DBE), the city's official convention bureau, the wins reflected a...
  • Dubai real estate market records $925 million in daylong transactions

    Dubai, UAE -- Dubai's real estate market recorded 510 sales transactions worth AED1.36 billion on Tuesday, in addition to 210 mortgage deals totaling AED1.95 billion, and 30 gift deals amounting to AED165.56 million, data released by Dubai's Land Department (DLD) showed. The sales included 446 villas and apartments worth AED949.04...
  • Dubai GDP growth up 3.3 percent in nine months of 2023

    Real estate soared by 4 percent, while financial and insurance activities surged 2.7 percent. The knowledge economy improved with a 2.6 percent increase in education, while electricity, gas, water and waste management activities grew by 2.2 percent.
  • Healthcare industry globally faces data hacking threat

    DUBAI, UAE - In an age where data is a cornerstone of modern healthcare, the industry faces an escalating threat from cyber criminals seeking unauthorized access to sensitive information. Kingston Technology, a player in memory products and technology solutions, is urging healthcare entities to bolster their defenses against rising cyber...
  • Dubai posts real estate transactions worth $3.5bn in week ending January 19

    DUBAI, UAE - The real estate and properties transactions valued at US$3.5 billion (AED13 billion) in total during the week ending January 19 2024. The sum of transactions was 3,697 and 184 plots were sold for US$547 million  (AED 2.01 billion), 2,770 apartments and villas were sold for US$2 billion...
  • Dubai World Trade Centre to host Japan trade exhibition next week

    Dubai, UAE--The first edition of the Japan Kyoto Trade Exhibition 2024 is all set to kick off this Monday, 22nd January, at Dubai World Trade Centre. The three-day exhibition, jointly hosted by the governments of Kyoto, Japan, and the Department of Economy and Tourism in Dubai (DET), is expected to...
  • Pakistan, Dubai ink deals worth $3 billion at Davos

    Davos, Switzerland - Pakistan and Dubai signed two agreements totaling over $3 billion on the sidelines of the World Economic Forum in Davos. The agreements will focus on collaboration in railways, economic zones, and infrastructure projects. One of the key agreements involves the establishment of a rail-based dedicated freight corridor...
  • English player Henderson all set to leave Al-Ettifaq

    Riyadh, Saudi Arabia - Jordan Henderson has moved a step closer to ending his much-criticized spell with Saudi club Al-Ettifaq by undergoing a medical with Dutch side Ajax, a source close to the negotiations told AFP on Thursday. The 33-year-old England midfielder has been with the Saudi club for just six...
  • UAE ranks first in Arab world in labor-resilient countries, says report

    Dubai, UAE - Against the backdrop of the World Economic Forum in Davos, Whiteshield announces the release of the Global Labor Resilience Index (GLRI) 2024. As the world confronts the profound challenges of global warming and the urgency of transitioning to a sustainable future, the impact on labor markets looms large,...
  • Demand for lifestyle experiences in GCC has increased: SHG CEO

    Dubai, UAE -- Sunset Hospitality Group (SHG) is more than just a collection of hotels, restaurants, and beach clubs. Renowned for crafting "lifestyle hospitality experiences," SHG blends luxury, entertainment and local flavor. TRENDS spoke with Antonio Gonzalez, CEO of Sunset Hospitality Group, about the Group's vision and how it has steadily...
  • Dubai at forefront of sustainable energy innovations

    “We're witnessing strong, growing, and sustainable demand for energy and water in Dubai. In 2023, the peak electricity load rose by 9 percent, and peak water demand increased by 5 percent. This growth stems from urban development, economic expansion, and a steady rise in population," he adds.
  • Maritime firm says missile hits Greek ship off Yemen

    Dubai, UAE - A missile hit a Greek-owned cargo ship off Yemen, a maritime risk management company said on Tuesday, following a string of attacks in the Red Sea by the Houthi rebels. "A Malta-flagged, Greek-owned bulk carrier was reportedly targeted and impacted with a missile while transiting the southern Red...
  • Emirates to recruit 5,000 crew members in 2024

    DUBAI, UAE â€“ Emirates will hire 5,000 people as it awaits the arrival of its fleet of Airbus A350s. The airline is inviting fresh graduates with internships or part-time jobs on their résumés, those with a year or so of hospitality or customer service experience, and individuals keen to embark on...
  • Sales of $10m-plus homes in Dubai grow by record 92% in 2023

    Dubai, UAE -- The total number of US$10 million plus home sales in Dubai grew by 92.4 percent to 431 sales during 2023, according to analysis carried out by global property consultancy, Knight Frank. The total value of sales above this price point grew by 91 percent last year to...
  • Al Arabia subsidiary wins Dubai contract

    The contract was awarded by Dubai Roads and Transport Authority.
  • CBI 2023 net profit at $46.5m

    The 2023 annual net profit rose 14 percent from 2022.
  • Record demand for Dubai luxury homes despite rising prices

    Dubai, UAE - Dubai saw record-breaking sale prices throughout 2023, with super-luxury residences selling for up to US$4,000 (AED14,692) per square foot, marking consecutive year-over-year increases since 2020, according to the 2024 Sotheby’s International Realty (SIR) Luxury Outlook Report. For the past two or three years post-Covid lockdowns, high-net-worth buyers...
  • China Construction Bank lists $600m green bond in Nasdaq Dubai

    DUBAI, UAE - Nasdaq Dubai has welcomed the listing of a US$600 million green bond by China Construction Bank (DIFC Branch). The green bond issuance targets combating climate change, represents China Construction Bank's significant commitment to sustainable financing and highlights the growing synergy in green financing between China and UAE....
  • DEWA unveils new distribution substations

    It commissioned 1,414 substations of 11kv in Dubai.
  • Global personal computer shipments decline 14.8 percent in 2023

    DUBAI, UAE - Worldwide PC shipments totaled 63.3 million units in the fourth quarter of 2023, a 0.3 percent increase from the fourth quarter of 2022, according to preliminary results by Gartner, Inc. This marks the first time that quarterly shipments have increased after eight straight quarters of decline, a...
  • Dubai records $2.74 billion in weeklong real estate transactions

    Dubai, UAE -- The real estate and properties transactions valued at 10.1 billion ($2.74 billion) in total during the week ending 12 January 2024. The sum of transactions was 2,910. A total of 209 plots were sold for AED 2.19 billion, 2,100 apartments and villas were sold for AED 4.84...
  • DEWA records 12.5 million digital transactions in 2023

    DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) announced that its customers conducted around 12.5 million digital transactions in 2023, compared to around 10 million digital transactions in 2022, an increase of about 25 percent. This reflects DEWA’s leading role in supporting the leadership’s vision to make Dubai the...
  • Record-breaking home sales in Dubai’s upscale market in 2023

    Dubai, UAE – Sales of properties worth more than $1.35 million and $2.70 million in Dubai hit record levels in 2023, reaching 10,296 and 3,806, up 54.5% and 68.4% from a year earlier, respectively, says CBRE in its study. Off-plan sales in both segments of the market have been the primary...
  • Yemen’s Houthi rebels have built a significant arsenal  

    DUBAI, UAE - Yemen's Houthi rebels, who vowed to retaliate against US and British strikes early on Friday against key military sites, have built up a significant arsenal, including cruise missiles and drones. Since the Israel-Hamas war broke out on October 7, the Iran-backed Houthis have carried out a spate of...