Arab meet calls for more investments in renewable energy
Speaking at the 12th Arab Energy Conference organized by the Organization of Arab Petroleum Exporting Countries (OAPEC), Qatar's Energy Minister...
Geostrategy
Saudi Crown Prince launches urban plan of Qiddiya city
Riyadh, Saudi Arabia -- Crown Prince Mohammad bin Salman, Prime Minister and Chairman of the board of directors of the...
Business
Infographics
Small gain for gold in 2022 despite rate hike
Goldman Sachs has recently projected that the supply of Lithium will begin to outpace demand from 2023 onward.
- Gold posted a small gain in 2022, which reinforced the precious metal's stable and uncorrelated performance amid market turbulence.
- Gold Council said weak institutional demand was offset by retail investment - driven by inflation and geopolitics - and central banks had an exceptional year of net buying.
Economy
Qatar’s Consumer Price Index increased by 5.93% in Dec 2022
Doha, Qatar-- Qatar's Consumer Price Index (CPI) rose by 5.93 percent in December 2022 to reach 108.20 points, driven primarily...
- On monthly basis, the CPI increased by 1.24 percent when compared to CPI of November 2022.
- Prices decreased in Communication by 3.37 percent, Health by 2.31 percent, Clothing and Footwear by 0.38 percent and Miscellaneous Goods and Services by 0.08 percent.
Business
Dubai realty transactions cross half a trillion dirham mark in 2022
"The exceptional performance of the real estate sector reflects support the goal of the Dubai Economic Agenda D33 launched to...
- In 2022, a total of 80,216 investors made 115,183 new real estate investments worth AED264.15 billion, an annual growth of 59.5% in volume and 78.4% in volume.
- The real estate sector's growth coincides with the growth of the emirate's economy despite the challenging global economic situation.
Business
Mubadala acquires DCA
DCA is a US-based dental services organization with 390 allied practices,
- Mubadala and funds managed by Harvest Partners jointly control DCA and will work closely with the management team.
- Founded in 1991, DCA has approximately 5,400 employees, including over 885 dentists in 22 states and welcomes over 3.5 million patient visits per year.
Business
Majid Al Futtaim among firms to halve real estate emissions by 2030
These companies also pledged to reach net-zero carbon no later than 2050. With buildings contributing 38 percent of all energy-related...
- Avison Young, Edge, GPFI Group, Ivanhoé Cambridge, JLL Schneider Electric and Signify were the other firms that pledged the emissions cut.
- These firms will meet these targets by implementing the Forum’s Green Buildings Principles, which provides a sequence of steps to deliver net-zero carbon real-estate portfolio.
Videos
Two UAE cities among best expat destinations
Expat Essentials Index ranks cities on the basis of quality of life, ease of settling in, working abroad, personal finance...
- The United Arab Emirates is the best place for expatriates to thrive professionally, according to InterNations Expat City Ranking 2022’s Expat Essentials Index
- The rankings are based on in-depth information about five areas of expat life: Quality of Life and Ease of Settling In Working Abroad, Personal Finance and new Expat Essentials.
Economy
UAE launched clean energy projects worth $43 bn in 2022: Minister
UAE Minister of Energy Suhail bin Mohammed Al Mazrouei highlighted the UAE Energy Strategy 2050, the first unified energy strategy...
- UAE’s clean energy production in 2021 totaled 7,035.75 megawatts (MW), underscoring the country's efforts in the clean energy sector.
- The minister said that once commercially operational, the third reactor will add another 1,400 MW of carbon-free electricity to the UAE's electricity grid.
Business
Iraq chamber asks government to tie up with German construction firms
Baghdad, Iraq-- The head of the Federation of Iraqi Chambers of Commerce - FICC, Abdul Razzaq Al-Zuhairi, called on the...
- FICC and the Federation of Iraqi Industries participated in the meetings between the two parties during the visit of PM Muhammad Shia Al-Sudani to Berlin.
- The Iraqi delegation seeks to encourage German companies and businessmen to invest in Iraq, FICC said in a statement.
Business
UAE Tax Policy ranks fourth on World Competitiveness Yearbook 2022
Dubai, UAE: The United Arab Emirates ranks fourth on the list of 63 economies around the world in the Tax...
- Published by Switzerland-based International Institute for Management Development (IMD), the World Competitiveness Yearbook assesses and ranks 63 economies around the world.
- The UAE place on the Yearbook depicts the country’s total contribution to GDP with its taxes, its stable rates of inflation, low tariffs and balanced price indexes.
Business
Building permissions issued by Qatar fall by 18 percent in Dec
Doha, Qatar-- The number of building permits issued in Qatar in December 2022 decreased by 18 percent (527 permits), compared...
- The decrease was noted the most in the municipalities of Al Rayyan (47 percent), Al Khor (37 percent), Al Shammal (25 percent.
- permits. Villas top the new residential buildings permits list, accounting for 83 percent (120 permits) in the residential sector.
Arab meet calls for more investments in renewable energy
Speaking at the 12th Arab Energy Conference organized by the Organization of Arab Petroleum Exporting Countries (OAPEC), Qatar's Energy Minister...
Geostrategy
Company News
Vietnam’s VNG files for US IPO
Business
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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
Qatar Central Bank issues treasury bills worth $137 million for a week
Doha, Qatar -- Qatar Central Bank (QCB) issued treasury bills worth QR 500 million ($137 million) for a one-week term,...
Business
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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.
Business
Aramco, Cenomi see 4 negotiated deals
The $32.81 million deals were registered by Tadawul.
- A negotiated deal involves a stock purchase based on a bargain between buyers and sellers, apart from the market price.
- The negotiated deal does not directly impact the last deal price, highest/lowest stock price and opening/closing price.