NEOM launches ‘Topian’ to ensure climate-proof agriculture in Saudi
NEOM, Saudi Arabia:Â NEOM, a mega-city project in Saudi Arabia characterized by futuristic urban planning and advanced technologies, Sunday announced the...
Business
Real estate deals in Bahrain decline marginally in third quarter: CBRE
Manama, Bahrain - Real estate transactions in Bahrain recorded a marginal 2.5 percent decline in Q3 2023, totaling 5,145 compared to the...
Business
Dubai records over $762 million in realty transactions Thursday
Dubai, UAE---Dubai real estate market recorded deals worth AED2.8 billion ($762 million) on Thursday, Dubai Land Department said. These included...
- These included 516 sales transactions worth AED1.73 billion, in addition to 71 mortgage deals of AED596.74 million.
- The sales included 455 villas and apartments worth AED1.5 billion, and 61 land plots worth AED235.09 million.
Business
Alpha Dhabi and Mubadala form JV
They will co-invest in global credit opportunities.
- Mubadala will hold 80 percent ownership in the Abu Dhabi Global Market-based joint venture entity, with the remaining 20 percent to be held by Alpha Dhabi.
- The venture will leverage Mubadala’s long-term and strategic partnership with Apollo, one of the world’s largest alternative asset managers.
Geostrategy
Arab-Israeli released after 40-year prison term for killing soldier
With a black and white keffiyeh around his shoulders, 64-year-old Younis was met by a crowd singing the Palestinian national...
- The 64-year-old Karim Younis was convicted in 1983 of the murder three years earlier of an Israeli soldier.
- Israeli Interior Minister Aryeh Deri wrote to the state prosecutor on Tuesday requesting a legal opinion on revoking the citizenship of the two men.
Arts & Culture
Cristiano Ronaldo’s Saudi debut ‘on hold’ over player quota
Riyadh, Saudi Arabia--Portuguese superstar Cristiano Ronaldo faces a wait to make his Al Nassr debut because the Saudi club have exceeded...
- When he was unveiled with great fanfare on Tuesday, the 37-year-old said he was keen to play as soon as possible, starting with Thursday's home game against Al Ta'ee.
- But Ronaldo, whose deal is worth an estimated 200 million euros to June 2025, is Al Nassr's ninth foreign player -- one more than the eight allowed by Saudi football authorities.
Business
ADIB ups ownership in ADIB Egypt
ADIB acquired 9.6m shares from National Investment Bank.
- ADIB acquired 9.6 million shares from National Investment Bank (NIB), representing 2.4 percent of ADIB Egypt’s share capital.
- The deal has raised ADIB UAE’s ownership in the Egyptian unit to 52.607 percent.
Economy
Dubai announces plan to ‘double’ the size of economy in next decade
The Gulf emirate's ruler, Sheikh Mohammed bin Rashid Al-Maktoum, unveiled in a series of tweets the Dubai Economic Agenda, dubbed...
- The new economic agenda would also add 400 cities to Dubai's list of trading partners, increasing foreign trade in the coming decade by 44 percent to 25.6 trillion dirhams.
- It would also see foreign direct investment in Dubai exceed 650 billion dirhams within 10 years, according to Sheikh Mohammed.
Economy
Qatar first on FDI Standouts Watchlist 2023: FDi Intelligence
Doha, Qatar-- Qatar ranks first among the world’s top destinations for foreign direct investment (FDI), owing to its strong economic...
- "FDI Standouts Watchlist 2023" by fDi Intelligence analyzes the macroeconomic and foreign direct investment (FDI) trajectory of the world’s top 50 FDI destinations.
- In 2022, the top sectors for FDI projects were Oil and Gas, financial services, and software and IT services, according to the report.
Business
Ducab partners with Vestas
Ducab's supplying medium voltage and earthing cable.
- Ducab Group is one of the UAE’s largest industrial manufacturing businesses.
- The move reinforces the strong industrial partnership between the UAE and Egypt.
Business
Dubai records over $518 million in realty transactions Monday
Dubai, UAE--Dubai recorded real estate deals worth AED2.3 billion ($518 million) on Monday, according to Dubai Land Department figures. The...
- The deals included 457 sales transactions worth AED2.02 billion, in addition to 79 mortgage deals of AED202.61 million.
- For the week ending Dec. 30, 2022, a total of 2,790 real estate transactions worth US$2.6 billion (AED9.6 billion) were registered in the emirate.
Science
Abu Dhabi introduces Mobile BSL-3 Laboratory
ABU DHABI, UAE - Abu Dhabi Public Health Center (ADPHC) has introduced the first of its kind mobile BSL-3 (Biosafety...
- The BSL-3 mobile laboratory will enhance the UAE capital's infectious disease preparedness through swift, safe and accurate testing of communicable diseases.
- The mobile laboratory will be accessible across four sites in Abu Dhabi.
NEOM launches ‘Topian’ to ensure climate-proof agriculture in Saudi
NEOM, Saudi Arabia:Â NEOM, a mega-city project in Saudi Arabia characterized by futuristic urban planning and advanced technologies, Sunday announced the...
Business
Company News
Latest News
SAB sees $26m negotiated deal
Business
GCC countries hold interest rates following US Fed decision
Abu Dhabi, UAE -- In the wake of the US Federal Reserve's decision to maintain its interest rates, GCC countries,...
Economy
Sharjah Chamber to host two-day Gulf-Iraq Business event
SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) said it is likely to host the first Gulf-Iraq...
Business
stc’s acquisition of Telefonica stake okayed
Spain's Securities Market Regulatory Authority cleared the deal.
Business
Most Read
Business
AD ports’ digital customs transactions increase by 37% in H1
Clearance of goods transactions increased by 35.8%.
- AD Customs reported a 20 percent growth in customs clearance request in free zones areas.
- It also recorded a growth of 6 percent in customs declaration during the first six months of 2023.
Infographics
Aramco, IHC among biggest companies in Middle East
Energy, banking and financial services, and industrial sector companies are among the largest in the Middle East, especially the Gulf...
- High representation of these sectors is due to the region's rich oil and gas reserves and its growing population and economies.
- The Middle East is also home to a number of other significant industries, such as tourism, healthcare, and education.
Business
DAE closes $1.6 billion loan
DAE said this is the company's largest ever loan facility.
- The facility enabled DAE to tap the Islamic banking liquidity and consolidate its existing banking relationships in the Middle East, Asia, North America, and Europe, it said.
- Proceeds from the facilities will support the future financing needs of the business and refinance a maturing credit facility.