Business
Dubai real estate market records deals worth $408 million
Dubai, UAE--Dubai real estate market recorded deals worth AED1.5 billion ($408 million) on Tuesday, Dubai Land Department said. The deals...
- The deals included 520 sales transactions worth AED1.22 billion, in addition to 72 mortgage deals of AED216.8 million.
- The sales included 440 villas and apartments worth AED902.79 million, and 80 land plots worth AED321.11 million.
Geostrategy
Quran desecration: Turkey, Indonesia summon Swedish, Dutch envoys
Swedish-Danish politician Rasmus Paludan on Saturday torched a copy of the Islamic holy book in front of Turkey's embassy in...
- Turkey on Tuesday summoned the Dutch ambassador to express its deep displeasure with an anti-Islam protest in The Hague targeting the Quran.
- The high representative of the United Nations Alliance of Civilizations has condemned the burning of the holy book as a “vile act”.
Economy
ADAFSA’s Auwn Program wins Global Business Excellence Award
ABU DHABI, UAE - Abu Dhabi Agriculture & Food Safety Authority (ADAFSA) has just been announced as the winner of...
- Auwn Community Program assisted in accomplishing ADAFSA's Corporate Social Responsibility goals by implementing several community initiatives.
- These include blood donation drives, support for people of determination and cancer patients, community and environmental development initiatives.
Business
RAK first in world to achieve 19 ISO 50001 certifications
Ras Al Khaimah, UAE -- The government of Ras Al Khaimah became the first in the world to achieve the...
- The accomplishment was announced at the World Future Energy Summit 2023, held as part of Abu Dhabi Sustainability Week (ADSW).
- A comprehensive retrofit of government buildings was carried out between 2018 and 2022, through energy performance contracting.
Infographics
Lebanon population set to decline in 2023
A survey published by the UN Economic and Social Commission for Western Asia says poverty levels can reach 36 percent...
- The combined population of the 22 Arab countries in 2021 was around 407-420 million.
- Most of this population is concentrated in and around major urban areas.
Business
Bayanat net profit up 110%
The company posted a 115 percent increase in revenue.
- Bayanat's total assets increased to AED1.508 billion during the year ended 2022 compared to AED474 million in the previous year.
- Last week Bayanat became the first ADX-listed technology share to be certified as Shari'a compliant.
Business
Future of Real Estate Forum in Riyadh begins, pacts worth $2.66 bn signed
The Minister of Municipal and Rural Affairs and Housing Majid bin Abdullah Al-Hogail, who inaugurated the second edition of the...
- The agreements were signed in real estate development and building technologies, and the establishment of four investment funds.
- Participants from more than 30 countries and 100 speakers representing the public and private sectors will attend the forum.
Business
Azizi sells 35% Creek Views II units
The 587-residence project is scheduled for handover by Q4.
- Nearly 18 percent of the units have been acquired by UAE investors, 11.61 percent by Indian nationals, and 6.25 percent by both Jordanian and Russian investors.
- Other nationalities who have invested in units at Creek Views II include German, English, Bangladeshi and Dutch passport holders, among others.
Business
Dubai realty sector posts record sales in 2022
Real estate sector experts say facilities like Golden Visa were fueling expatriate interests in owning a property in the emirate.
- market experienced a record-breaking performance in 2022 in terms of sales, volume and value, according to media reports.
- For luxury properties, the market registered an increase in growth by 97 percent in terms of value and 85 percent in terms of volume, reports said.
Geostrategy
Dubai Customs makes 25.7m transactions, above 2100 seizures in 2022
Dubai, UAE-- Dubai Customs has completed 25.7 million customs transactions and made 2,147 seizures in 2022, while also winning several...
- Dubai Customs dealt with 388 intellectual property disputes in 2022, which included 14.5 million counterfeit items with a street value of AED 109.5 million.
- It was active in recycling counterfeit goods with more than 93 recycling operations taking place throughout the year that targeted 173,000 counterfeit items.
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Company News
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Several UAE entities sign pact to implement ‘Sharjah Sat-2’
Sharjah, UAE -- A cooperation agreement was signed between the Sharjah Academy of Astronomy, Space Sciences & Technology (SAASST), the...
Geostrategy
Iraqi PM planning to visit Moscow in coming weeks: Foreign Minister
Baghdad, Iraq -- Iraq is working to complete the necessary preparations for the visit of Prime Minister Muhammad Shiaa Al-Sudani...
Geostrategy
Qatar records real estate sales contracts worth $60 million
Doha, Qatar -- The volume of real estate trading in sales contracts at the Department of Real Estate Registration at...
Business
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Business
Dubai ranks fifth globally on key shipping development Index
Dubai, UAE -- Dubai has maintained its ranking among the top five global maritime centres on the 2023 International Shipping...
- The city also ranked first in the Arab world for sea freight and logistics services on the 2023 International Shipping Centre Development (ISCD) Index.
- Dubai is the only Arab city on the list. Singapore, London, Shanghai and Hong Kong secured the top four ranks on the Index.
Business
ADIB completes $750m sukuk redemption
The sukuk, issued on Sept 20, 2018, carried profit rate of 7.125%.
- ADIB redeemed them at the trustee call amount, equivalent to the prevailing face value of the certificates along with any outstanding payments as of September 20, 2023.
- Earlier in July 2023, ADIB had successfully raised an additional $750 million through the issuance of new additional tier-one (AT1) perpetual sukuk.
Geostrategy
Agriculture deals worth $471m inked at China-Arab States Expo
Beijing, China -- A total of 34 deals worth approximately AED1.73 billion ($471 million) were signed at the conference on...
- Last year, trade value of agricultural products between China and Arab countries reached US$5 billion (AED18.36 billion).
- China has held nearly 500 training sessions for nearly 10,000 agricultural officials and technical staff from 22 Arab League member countries.