Domestic worker visa applications in UAE up 66% in June 2024, says a report
The UAE, relying on domestic workers (5% of the population), invests $3 billion annually, highlighting the rising demand for domestic...
Economy
Saudi Arabia reforms investment law, simplifies process and investor protection to achieve $100 bn FDI target
The law will ensure equal treatment between domestic and foreign investors, protecting intellectual property and promoting fair competition in line...
Economy
Business
DP World handled 79mn TEU across its container terminals in 2022
The company’s growth was driven by Asia Pacific, the Americas and Australia region, the Group Chairman and CEO Sultan Ahmed...
- The company’s growth was driven by Asia Pacific, the Americas and Australia region, the Group Chairman and CEO Sultan Ahmed Bin Sulayem
- Jebel Ali’s high-margin origin and destination cargo grew by 8.6 percent, with overall volume growth steady at 1.7 percent for the year, the top executive said
Economy
Average occupancy in Dubai hotels 73% in 2022, highest in world
The high occupancy was achieved despite a 16 per cent increase in room supply in 2022 compared to 2019.
- The high occupancy was achieved despite a 16 per cent increase in room supply in 2022 compared to 2019.
- Dubai’s hotel inventory at the end of December 2022 comprised of 146,496 rooms at 804 hotel establishments.
Economy
Dubai’s position as international events destination reinforced in 2022
The city also hosted the Skift Global Forum East, the first-ever international extension of the world’s flagship travel conference, the...
- The city also hosted the Skift Global Forum East, the first-ever international extension of the world’s flagship travel conference, the Skift Global Forum
- Expo 2020 hosted global business and leisure events across 2022 including Gulfood, the World Government Summit, Binance Blockchain Week, Gitex Global Dubai
Economy
Dubai receives 14.36mn international visitors in 2022
The latest data from the United Nations World Tourism Organisation (UNWTO) shows that global tourist travel in 2022 was 37...
- The latest data from the United Nations World Tourism Organisation shows that global tourist travel in 2022 was 37% lower than 2019
- The Middle East saw the strongest relative increase, with arrivals climbing to 83 percent of pre-pandemic numbers.
Economy
Dubai’s government, private sector to discuss future at Innovation Talks
DUBAI, UAE - The Innovation Talks series will bring together heads and representatives of Dubai government departments, and experts from...
- The three-day Innovation Talks series will include keynote sessions and knowledge seminars.
- The series emphasizes the importance of innovation, especially in providing services and increasing the effectiveness of procedures.
Business
SEDD discusses cooperation with Matajer
SHARJAH, UAE - Sharjah Economic Development Department (SEDD) received a delegation from Matajer - one of the most important commercial...
- SEDD contributes to planning and leading the economic development of the emirate.
- The department contributes to strengthen the partnership between government and private sector.
Economy
‘UAE is committed to achieving sustainability’
ABU DHABI, UAE - Ruler's Representative in Al Dhafra Region and Chairman of the Board of Directors of the Environment...
- Abu Dhabi attaches high priority to protect the environment and preserve natural resources.
- Sheikh Hamdan also highlighted the emirate and the EAD's journey in promoting sustainability and preserving the environment.
Geostrategy
Iraq is a key trade partner of Jordan, says Kingdom’s Commerce Chamber head
AMMAN, JORDAN - Chairman of the Jordan Chamber of Commerce (JCC), Khalil Haj Tawfiq said Iraq is an "important" trade...
- Jordanian-Iraqi economic relations have witnessed development due to the joint trade agreements and projects signed between the two countries.
- There is a need to increase joint trade exchange and overcome obstacles to entry of the two countries' products and commodities in both the countries markets.
Geostrategy
UN chief calls for building alliance of peace on International Day of Human Fraternity
NEW YORK, US - On the occasion of the International Day of Human Fraternity, the UN chief Saturday called for...
- The International Day of Human Fraternity celebrates values that hold our human family together, UN Secretary-General António Guterres said.
- Let us all take inspiration and renew our commitment to stand together as one human family, the UN chief said.
Geostrategy
UAE participates in G20’s sustainable finance working group meeting for 2023
ABU DHABI, UAE - The UAE recently participated in the first Sustainable Finance Working Group (SFWG) meeting within the G20...
- The meeting, held at Guwahati, India, sought to discuss and agree on the group’s main points for 2023 in line with the priorities of the Indian Presidency.
- G20 members, invited countries, sustainable finance working group country members, international organization like IMF also attended the meeting.
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Domestic worker visa applications in UAE up 66% in June 2024, says a report
The UAE, relying on domestic workers (5% of the population), invests $3 billion annually, highlighting the rising demand for domestic...
Economy
Company News
Latest News
UAE, Oman, Qatar seen as top 2024 property investment destinations
Dubai, UAE – Oman, Qatar, and the United Arab Emirates, particularly Dubai, have secured top positions for residential property investment...
Business
Saudi Arabia, South Korea ink pact to manufacture vaccines, biotech solutions
Seoul, South Korea - Saudi Arabia and South Korea on Sunday signed a Memorandum of Understanding (MoU) to collaborate in...
Economy
UAE ranks first in Middle East, 4th globally as remote work destination
Dubai, UAE -- The UAE has ranked first in the Middle East and fourth globally as a leading destination for...
Economy
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Business
Red Sea Global, VAARST join hands for marine ecosystem mapping
TABUK, SAUDI ARABIA - Red Sea Global (RSG), the multi-project developer behind the regenerative tourism destinations, is piloting SubSLAM, an...
- VAARST’s photogrammetry and real-time intelligent data collection system are transforming how underwater ecosystems are mapped and preserved.
- SubSLAM, developed by VAARST, enables precise quantification and identification of corals and underwater objects using advanced 4K sensors.
Geostrategy
Iran executes man convicted of spying for Israel: judiciary
According to human rights groups, including Amnesty International, Iran executes more people per year than any other nation except China....
- He was also found guilty of "collecting and providing classified information to the Mossad spy service with the aim of disrupting public order."
- Iran has previously announced the arrests of alleged agents working for foreign countries, including Israel, its regional arch-foe
Business
KIPCO sells its stake in GIG
The deal is valued at 256 million Kuwaiti Dinars ($832 million).
- The purchase price was set at KD two per share, with an adjustment of 54 fils per share to account for the cash distributions GIG made in 2022
- The sale of KIPCO's stake in GIG is seen as a testament to the company's effective strategy of acquiring, expanding, and then timely exiting companies