Dubai real estate sales hit record $13.6bn in July, growth eases
Dubai, UAE - Dubai's real estate market reached a new peak in July, with sales hitting an all-time high of...
Business
Dubai welcomes record 9.31 million visitors in first half of 2024
Dubai, UAE - Dubai has reinforced its position as a global tourism leader by welcoming a record 9.31 million international...
Economy
Science
Arab Health 2023: Emirates Health Services unveils ‘Microbubble treatments for Children’
‘Microbubble Treatments for Children’ programme research project is being pursued in partnership with the Children’s Hospital of Philadelphia.
- ‘Microbubble Treatments for Children’ programme research project is being pursued in partnership with the Children’s Hospital of Philadelphia
- The project aims to administer various treatments through microscopic bubbles that moves in the bloodstream to reach the target areas as needed
Business
Iran, Russia link banking systems amid western sanctions
Linking of banking system with Russia is seen as an attempt by both the countries to get around the US...
- Linking of banking system with Russia is seen as an attempt by both the countries to get around the US economic sanctions
- Iran's top authority, Supreme Leader Ali Khamenei, said on Monday that the country faced "a tangible welfare and livelihood problem."
Geostrategy
Abu Dhabi Global Market receives French delegation
ABU DHABI, UAE - Abu Dhabi Global Market (ADGM) Monday received a French delegation to strengthen bilateral relations through dialogues...
- ADGM is home to an increasing number of French companies including renowned anchor tenants such as BNP Paribas Group.
- Dialogues were exchanged through an open platform discussion along with closed-door sessions and roundtables.
Business
ADIB net profit in 2022 is $985m
ADIB's revenue increased by 23% to US$1.8 billion in 2022.
- ADIB reported a 60 percent growth in the fourth quarter of 2022 with a net profit of US$326 million.
- The bank's revenue in 2022 was driven by a 43 percent increase in fees and commissions and a 24 percent growth in funded income.
Economy
UAE launches project to establish centralized database of industrial companies
ABU DHABI, UAE - UAE Ministry of Industry and Advanced Technology (MoIAT) Monday launched the Industrial Census project, in collaboration...
- The project aims to create a comprehensive database of all establishments that practice industrial activities.
- The project will help create new investment opportunities for manufacturers, investors and owners of industrial companies.
Economy
Oil falls ahead of OPEC+, US Federal Reserve meetings
Brent crude futures were down 74 cents, or 0.8 percent, to $85.92 a barrel at 0710 GMT, while West Texas...
- Brent crude futures were down 74 cents, or 0.8 percent, to $85.92 a barrel at 0710 GMT, while West Texas Intermediate crude was down 61 cents
- The US central bank is expected to raise interest rates by at least 25 basis points in its policy meeting on January 31-February1
Business
QInvest exends book building period for MEEZA IPO
MEEZA is a leading provider of end-to-end IT services in Qatar.
- Qualified investors will use this extension to finalize internal approvals and submit their orders
- The purpose of the book building mechanism is to set the final Offer Share price for the IPO
Business
Masraf Al Rayan’s 2022 profit dips by 22%
In 2021, the company's profit was $0.46 billion.
- The figures issued by the bank show a decrease in the earnings per share to QR 0.140 per share in 2022
- The company has recommended a cash dividends of 10 percent of the nominal value of a share
Business
UAE’s EHS to showcase innovative health projects during Arab Health 2023
DUBAI, UAE - The Emirates Health Services (EHS) will showcase its 19 innovative healthcare projects during Arab Health Exhibition 2023,...
- Arab Health Exhibition is one of the largest forums that hosts major corporations, authorities and companies from all over the world.
- The forum provides an opportunity to achieve the goals of national strategies and projects that seek to turn the UAE into a global hub for health care.
Geostrategy
GCC Standardization Organization announces Training Plan for 2023
RIYADH, SAUDI ARABIA - The Gulf Cooperation Council (GCC) Standardization Organization (GSO) has announced its training plan for 2023 in...
- The 2023 training plan aims at contributing to developing cadres in the national standardization agencies in the member states.
- He said that the GSO will organize 15 training programs and workshops in a number of the cities in the GCC.
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Dubai real estate sales hit record $13.6bn in July, growth eases
Dubai, UAE - Dubai's real estate market reached a new peak in July, with sales hitting an all-time high of...
Business
Company News
Mashreq’s net profit surges 122%
Business
Latest News
Iran announces visa exemption for Saudi Arabia, 32 other countries
Tehran, Iran — Iran has waived visa requirements for passport holders from 33 nations, signaling a significant step in opening...
Geostrategy
Saudi Foreign Minister seeks British role in Gaza truce in meeting with Cameron
London, Britain - Saudi foreign minister on Thursday Prince Faisal bin Farhan bin Abdullah called on the international community, especially...
Geostrategy
Most Read
Business
NEOM unveils Utamo, a $500bn project to showcase world’s mega artists
NEOM, Saudi Arabia - Saudi Arabia's $500 billion mega project, has introduced Utamo, a new art and entertainment destination set...
- Described by NEOM as "an innovative and multipurpose event and performance space," Utamo features VIP lounges and signature restaurants
- NEOM envisions Utamo as a venue where "reality and the digital realm converge," aiming to redefine entertainment benchmarks
Economy
GCC countries follow US Federal Reserve’s lead in holding interest rates
Abu Dhabi, UAE – The Central Banks of the United Arab Emirates and Qatar have chosen to maintain their current...
- The Central Bank of the UAE (CBUAE) announced that it would keep the Base Rate for the Overnight Deposit Facility (ODF) steady at 5.40 percent
- Following suit, Qatar Central Bank (QCB) also maintained its current interest rates, including the rates for deposit, lending, and repurchase agreements
Business
Andalusia Labs secures $48m funding
The company deals in risk management infrastructure for digital assets.
- Silicon Valley venture capital firm Lightspeed Venture Partners led the round with participation from Mubadala Capital
- Andalusia Labs is a collection of leading technology solutions addressing the security challenges prevalent in the blockchain industry