Jeddah Program named cultural destination of FIFA Club World Cup
Riyadh, Saudi Arabia -- The Historic Jeddah Program has secured sponsorship rights as the official cultural destination and main supporter...
Arts & Culture
Gaza health situation a ‘perfect storm for tragedy’: UN
Around 160 children are killed every day in Gaza and UNICEF has warned that the number could skyrocket. More than...
Business
Digital transformation boosts data economy growth in UAE: Report
 Data economy on track to become one of the largest economic sectors globally The report suggests stepping up collaboration among...
Vantage Capital invests $23 million in PickAlbatros Hotels
PickAlbatros has a portfolio of about 10,000 rooms across the Red Sea resort towns Vantage Capital partner David Kornik expects...
Jean Marie Bockel appointed Middle East GPF ambassador
GPF hopes appointment will strengthen its business ties with the region Active in 88 countries, GPF fosters business relations between...
AUS, Petrofac partner to improve solar energy efficiency
AUS, Petrofac develop a technology that can remotely assess the cleanliness of solar panels Abundant sunlight makes the UAE a...
UAE: Emirate to receive direct commercial flights from Ukraine
The move will see Ras Al Khaimah welcome flights from Kyiv twice a week Travelers from Ukraine will receive complimentary...
Bombed-out factories deepen economic pain in Gaza
More than half of the working-age population is unemployed in Gaza UN official says addressing the conflict's root causes...
Flydubai to run two new summer routes to Greece
Demand for travel to places outside MENA has risen after vaccine rollout Flydubai seasonal routes will open only after Sept...
Dubai records AED92 billion worth of realty transactions
 Hadaeq Sheikh Mohammed Bin Rashid tops the list in villa sales Dubai Marina, Burj Khalifa among toppers in apartment sales...
A floating house launched in UAE sells for Dh 20 million
Neptune billed as the first environment-friendly floating house in the world Floating units can safely move from one place to...
New business licenses record 19 percent growth
The Business Registration and Licensing (BRL) sector of Dubai Economy reports that 15,475 new licenses have been issued during the...
Jeddah Program named cultural destination of FIFA Club World Cup
Riyadh, Saudi Arabia -- The Historic Jeddah Program has secured sponsorship rights as the official cultural destination and main supporter...
Arts & Culture
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Subscription opens to Alinma EMF
Business
Saudi Catering, RSG ink pacts
Business
Turkish officials discuss scenarios around stalled Russia grain deal
Turkey’s top diplomat Hakan Fidan is planning to discuss the results of these discussions with Russian Foreign Minister Sergey Lavrov...
Geostrategy
Etihad Cargo flight lands in Hubei
Hubei's Ezhou Huahu Airport is world's fourth professional cargo airport.
Business
Dubai real estate market records deals worth $653 million
Dubai, UAE -- Dubai's real estate market recorded deals worth AED 2.4 billion ($653 million) on Thursday, according to Dubai...
Business
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Business
Sharjah records real estate deals worth $517 million in July
Sharjah, UAE -- Sharjah has recorded real estate transactions worth AED1.9 billion ($517 million) during July 2023, according to the monthly...
- The department executed a total of 2,783 transactions, including 684 sales transactions across 96 areas in various regions of the emirate.
- The number of mortgage transactions were 447, constituting 16.1 percent of the total number of transactions with a value of AED420.1 million.
Business
DP World H1 EBITDA $2.6bn
The company's revenue grew 13.9 percent to $9.03 billion.
- CEO Sultan Ahmed bin Sulayem said the company's balance sheet remains robust, and it continues to generate high levels of cash flow.
- DP World's focus on high-margin cargo, end-to-end bespoke supply chain solutions and cost optimization has been crucial in securing these results.
Business
Struggling Lucid weighs down PIF’s robust US equities show
Dubai, UAE -- Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), reported 9.6 percent growth in its US equity holdings to...
- Lucid continued to drag down the fund’s US public holdings with q-o-q growth of 6.2 percent to US$9.47 billion – a level that was still 45.6 percent down on end-June 2022.
- The EV manufacturer has struggled with mounting losses and tightening cash reserves due to recession risks and a price war with its bigger rival Tesla.