The deal is aimed at expanding public and social infrastructure.

Business travelers worldwide are drawn to the GCC countries due to their rapidly growing economies, strategic geographic locations, and ambitious infrastructure development plans.

The region's luxury goods market was worth US$ 10.52 billion in 2023, with long-term growth expected, reaching US$ 13.70 billion by 2028.

Power outages were reported around Dubai, which was dotted with flooded areas and submerged and abandoned cars. One road tunnel near the airport was completely flooded to a depth of several meters.

Dubai, the Middle East's financial centre, has been paralyzed by the torrential rain that caused floods across the UAE and Bahrain, and left 18 dead in Oman on Sunday and Monday. Dubai airport operations were suspended for 25 minutes in the afternoon before resuming.

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.

Flooding hit many areas of Dubai and Abu Dhabi, the UAE capital, and cut off major roads, snarling traffic and leaving cars stranded.

Vast swathes of land across the desert region are seeing the sprouting of new special zones to entice big business to set up shop. But can the model work to power the GCC economy?

Saudi startups were the biggest beneficiaries of LEAP24 tech conference, securing the lion's share of the total investment of S254 million.

As Eid Al-Fitr approaches, online shopping is expected to reach new heights, with anticipated growth in categories like flowers, cakes, sweets sets, and themed gift hampers.

DUBAI, UAE – Executive Vice President, Dubai World Trade Center (DWTC)  Mahir Julfar said that the DWTC's performance in 2023 was outstanding, welcoming 2.47 million participants - a 25 percent surge in visitor numbers compared to 2022. ‘’This achievement was propelled by the successful staging of 301 Meetings, Incentives, Conferences,...

Dubai, UAE--Dubai received 3.67 million overnight visitors in January-February 2024, with an increase of over 18 percent year-on-year (YoY), figures released by Dubai Department of Economy and Tourism (DET) showed. According to the DET's Tourism Performance Report for January-February 2024, Dubai recorded 1.77 million international visitors in January, and 1.9...

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,...

Abu Dhabi, UAE -- The Abu Dhabi Chamber of Commerce and Industry (ADCCI) announced the establishment of 54 working groups within the Advocacy Hub initiative. These working groups are part of the efforts to support the growth and prosperity of the private sector by providing an ideal platform for businesses...

The pact aligns with CBI’s plan to support innovation in UAE.

Dubai, UAE - The United Arab Emirates (UAE) has decided to halt its coordination of humanitarian aid with Israel following the death of seven World Central Kitchen humanitarian workers in Gaza, i24NEWS reported. According to reports, the Emirati foreign ministry has expressed its outrage to the Israeli ambassador Amir Hayek...

Clean hydrogen could be bigger than the oil and gas economy for the region, says Jo Bamford, chairman of HYCAP, which invests in net zero and hydrogen economy.

The aim is to offer trade finance solutions to businesses in UAE.

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.

"Threat actors can employ artificial intelligence (AI) and machine learning (ML) algorithms to identify vulnerabilities and adapt their tactics in real-time, making it difficult for conventional security measures to keep up." he adds.

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...

GCC countries collaborate on comprehensive tourism strategy, leading global recovery post-pandemic with remarkable growth rates and ambitious plans for sustainable development.

This will raise its share capital by $163 million to $944 million.

Non-oil growth to stay robust, bolstered by a strong non-oil GDP growth in the region's two biggest economies, UAE and Saudi Arabia.

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 company had paid an interim cash dividend of $1.62bn in Dec 2023.

The art of hand-weaving braided shiny ribbons to adorn traditional clothing and bags is called Al Talli, and is on UNESCO's Intangible Cultural Heritage of Humanity list. But with the relentless pace of change in the United Arab Emirates, its days may be numbered.

Sharjah, UAE--Expo Centre Sharjah (ECS) has unveiled its future projects and forthcoming initiatives to develop and enhance the exhibitions sector and bolster its role in driving the growth of Sharjah’s economy. Promoting the emirate’s business tourism potential and opening up growth prospects across various sectors, the ECS’s plans are geared...

Tokyo, Japan--The UAE exported 44.1 percent, namely 31.3 million barrels, of Japan's crude oil needs in February 2024, according to the Agency for Natural Resources and Energy in Tokyo. The agency, part of the Japanese Ministry of Economy, Trade and Industry, stated that the amount of crude that Japan imported...

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...

Abu Dhabi, UAE--The UAE and Kenya have signed an investment memorandum establishing a framework for investment cooperation in digitalisation and technology. In addition to exploring investments in digital infrastructure and artificial intelligence (AI) services in Kenya, the cooperation may include developing data centre projects with a total capacity of up...

Brussels, Belgium -- One of Belgium's most-wanted suspected drug smugglers was extradited from Dubai on Friday, the Belgian justice ministry said. Nordin El Hajjioui, a Belgian of Moroccan origin, is believed to be one of the main drug barons in Antwerp and is wanted in at least three cocaine-trafficking cases. Emirati...

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

The company's revenue fell by 18 percent in 2023.

The company intends to pay $1.3bn in dividend for 2024 also.

Abu Dhabi, UAE-- The United Arab Emirates has been ranked first globally for the third consecutive year in the Global Entrepreneurship Monitor (GEM) report for the year 2023-2024. The country recorded a rate of 7.7, a record number in the history of the report. The UAE was recognised as the...

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...

In 2023, DEWA's revenue exceeded $7.8 billion, its highest ever.

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)...

Eti Bhasin, a trailblazing restaurateur in Dubai's thriving hospitality scene, navigates challenges with resilience and innovation at her popular eatery, Dhaba Lane.

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...

Abu Dhabi, UAE--The General Civil Aviation Authority (GCAA) has launched the Cargo Data Reporting System (CARDS), which provides a range of technical services to government entities, national airlines, ground handling agents and express service providers. CARDS is the first platform of its kind to provide an analytical view of air...

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,...

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,...

It will be a hub for customers to lift up "digital competence."

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