UAE’s tech industry set to achieve record growth in 2025
Abu Dhabi, UAE - The UAE’s technology industry is set to achieve record growth in 2025, driven by significant expansion...
Economy
UAE discusses temporary Gaza governance with US, Israel, seeks two-state solution assurance: report
Discussions led by the UAE include provisional administration, PA leadership overhaul, and Gaza reconstruction, requiring extensive international cooperation and adherence...
Geostrategy
Business
Union Properties profit is $3.3m
Revenue increased to $33.21 million, up 16 percent.
- Revenue increased to $33.21 million, up 16 percent compared to the same period last year
- Administrative and general expenses declined 21 percent year-on-year to $4.5 million
Economy
Morocco, UK ink pact on climate action, clean energy, green growth
Rabat, Morocco: Morocco and the United Kingdom signed on Tuesday a Strategic Framework for Cooperation on climate action, clean energy...
- The agreement aims to facilitate Morocco’s accelerated transition from fossil fuels to clean and affordable energy
- It also aims at the systemic integration of climate action into government and private sector planning and action
Business
ADNOC to float 15% minority stake in ADNOC Logistics & Services on ADX
Abu Dhabi, UAE -- ADNOC has announced its intention to float a 15 percent minority stake in ADNOC Logistics &...
- The offering is expected to open on May 16, 2023, subject to regulatory approvals and other relevant considerations
- ADNOC L&S is alogistics services provider to ADNOC Group, offering highly-specialized services across the energy value chain
Economy
Qatar, Spain launch innovation program to support collaborative research
Doha, Qatar: Qatar and Spain have launched the Qatar Spain Innovation Program (QASIP), a joint venture between the Qatar Research,...
- The program aims to support collaborative research and development projects in energy, health, resource sustainability, and digital technology
- The program is the first fruit of cooperation between the QRDI Council and CDTI, following a MoU signed by Qatar and Spain in 2022
Economy
UAE growing EV charging stations from 500 to 800
Abu Dhabi, UAE - The UAE is growing the number of Electric Vehicle (EV) charging stations from 500 to 800...
- Recent years have seen the UAE make a push towards adoption of electric vehicles
- The country's EV market is expected to grow at a CAGR of 30 percent until 2028
Business
DEWA announces pilot use of ChatGPT on its website
Dubai, UAE: Dubai Electricity and Water Authority (DEWA) announced the pilot use of ChatGPT, since April 2023, on its website...
- DEWAt is the first utility in the world and the first government organisation in the UAE to use ChatGPT
- The step has been taken as part of the company’s strategy to employ Artificial Intelligence
Economy
Saudi Arabia launching tourism projects worth $400m
Riyadh, Saudi Arabia - Saudi Arabia is launching tourism projects worth SAR 1.5 billion ($400 million) in the targeted destinations...
- The Saudi Ministry of Tourism has sponsored ‘The Collective’ initiative launched by Kerten Hospitality, a hotel investment firm, to establish its projects under one umbrella
- The announcement represents an important step toward achieving the objectives of the national tourism strategy by developing quality hospitality facilities
Business
Net profit of QSE listed companies dips by 10% in Q1
Doha, Qatar - Fifty companies listed on Qatar Stock Exchange (QSE) have reported a combined net profit of $3.45 billion...
- The industries sector saw the biggest decline of 44.18 percent, resulting in a net profit of $656.22 million
- The insurance sector recorded the highest growth with a 79 percent increase, generating a net profit of $102.94 million
Economy
Sharjah’s GDP grows 5.2% to $37bn in 2022
Sharjah, UAE - Sharjah's GDP has grown by 5.2 percen to AED 136.9 billion ($37.05 billion) compared to AED 130.1...
- The non-oil sector has reported a 5.2 percent increase, bringing the total to AED 133.4 billion (36.08 billion) in 2022
- 'Wholesale and retail trade; repair of motor vehicles and motorcycles' achieved the highest growth in the emirate's GDP
Business
DEWA Q1 profit $207.8m
Growth in revenue driven by surge in demand for electricity, water.
- By the end of Q1 2023, DEWA served 1,169,713 customers, representing an increase of 12,212 customers from Q4 2022.
- Quarterly revenue growth for electricity, water and cooling services increased by 7.2 percent, 7 percent and 4.6 percent respectively.
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UAE’s tech industry set to achieve record growth in 2025
Abu Dhabi, UAE - The UAE’s technology industry is set to achieve record growth in 2025, driven by significant expansion...
Economy
Company News
Latest News
IsDB discusses collaboration with China’s ICBC and BOC
Jeddah, Saudi Arabia -- President of the Islamic Development Bank (IsDB) Muhammad Al-Jasser held today held discussions with senior officials...
Business
Saudi Arabia expects to attract 150 million visitors by 2030
Riyadh, Saudi Arabia - Saudi Arabia aims to attract 150 million visitors by 2030, with the tourism sector expected to...
Economy
ASFAR, Municipality of Al-Ahsa sign agreement
RIYADH, SAUDI ARABIA - ASFAR, the Saudi tourism investment company wholly owned by the Public Investment Fund of Saudi Arabia,...
Business
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Economy
Saudi Arabia lists priority specializations for Special Talent Residency
Riyadh, Saudi Arabia - Saudi Arabia's Premium Residency Center on Sunday revealed a list of priority specializations that qualify individuals...
- Saudi Arabia is actively seeking to attract top-tier talents and minds globally, encouraging them to reside and work in the country to foster development
- The specified specializations that make expatriates eligible for Special Talent Residency encompass a diverse range of sectors
Stop military operations in Palestine: Saudi minister
Kampala, Saudi Arabia - Saudi Deputy Minister of Foreign Affairs Eng. Waleed Al-Khereiji stressed on Sunday the imperative to halt...
- Al-Khereiji advocated for the two-state solution, citing international legitimacy resolutions and the Arab Peace Initiative
- He underlined the Kingdom's commitment to the security and stability of the region, expressing support for initiatives fostering cooperation
Business
China remains world’s largest logistics market in terms of demand
BEIJING, CHINA - The logistics sector in the country achieved steady recovery in 2023 and the country remains the world's...
- As final consumption continues to rebound, it will lead to consistent growth in production and import demand.
- There has been a continuous enhancement in the competitive capabilities of China's logistics enterprises.