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
Economy
Egypt signs $1.5 billion financing agreement with ITFC: reports
Egypt's Planning Minister Hala al-Saeed said at a signing ceremony that the financing cooperation portfolio between Egypt and the corporation...
- Egypt's Planning Minister Hala al-Saeed said at a signing ceremony that the financing cooperation portfolio between Egypt and the corporation had reached $14.5 billion
- With Russia's war in Ukraine causing its wheat and oil bills to rise, Egypt has recently agreed to a $3 billion IMF loan package to cope with a currency crunch
Business
Qatar, Cambridge University ink MoU to develop genome project
The project is a collaboration to develop and support an open information structure that will facilitate the comparative analysis of...
- The project is a collaboration to develop an open information structure that will facilitate the comparative analysis of financial regulations across jurisdictions
- Under the MoU, QFCRA and CJBS-RGP aim to enhance the use and usefulness of data in regulating the financial services industry
Economy
Inflation in Kuwait rose 3.15 percent in 2022
The Kuwait Central Statistical Bureau said that inflation rate rose 0.17 percent in December on a monthly basis.
- The Kuwait Central Statistical Bureau said that inflation rate rose 0.17 percent in December on a monthly basis
- Record number of the food and beverages went up by 7.48 percent, compared to December 2021
Geostrategy
CBUAE, Egyptian Banking Institute discuss training, cooperation
ABU DHABI, UAE - The Central Bank of the UAE (CBUAE) and the Egyptian Banking Institute (EBI) which is under...
- CBUAE and Egyptian Banking Institute reviewed the prospects to enhance cooperation and exchange information.
- They also discussed supporting professional capabilities-building and expertise development.
Economy
Sharjah Consultative Council approves DVA policy recommendations
SHARJAH, UAE - The Sharjah Consultative Council (SCC) has approved its recommendations regarding the Districts and Villages Affairs Department (DVA)...
- The recommendations touched on the importance of providing social and psychological specialists in the suburb councils.
- They also called for expanding the establishment of a suburb festival to include various cities and regions of Sharjah.
Arts & Culture
16th Al Dhafra Festival to launch Sunday
AL DHAFRA, UAE - The competitions and concluding activities of the 16th Al Dhafra Festival will begin Sunday as part...
- The festival also enables camel owners to continue the tradition of breeding and caring for camels.
- The festival will also highlight the role of the camel in the Emirati and GCC’s culture.
Geostrategy
Qatar Chamber discusses investment with Cuban delegation
DOHA, QATAR - Qatar Chamber First Vice-Chairman Mohamed bin Ahmed bin Twar Al Kuwari met with President of the Republic...
- The meeting touched on economic and commercial relations between Qatar and Cuba.
- The Qaraei delegation also discussed the business opportunities offered by the Cuban side in the sector of water resources.
Business
DEWA implements SAP’s Audit Management System
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has implemented the SAP Audit Management System (TAWKEED), becoming the first...
- DEWA's Internal Audit Department is an independent assurance function that adopts the best-in-class standards and practices.
- The Internal Audit department at DEWA operates under an approved charter.
Economy
European prosecutors hear Lebanese bankers in central bank commission probe
Prosecutors from Germany, France and Luxembourg have been in Beirut as part of the money laundering investigation.
- Prosecutors from Germany, France and Luxembourg have been in Beirut as part of the money laundering investigation
- They suspect central bank governor Riad Salameh and his brother Raja illegally took more than $300 million from the central bank between 2002 and 2015
Geostrategy
Palestine welcomes Saudi Arabia’s support for Palestinian cause
In a statement, Palestinian foreign ministry acknowledged the full Saudi support for the right of the Palestinian people in determining...
- In a statement, Palestinian foreign ministry acknowledged the full Saudi support for the right of the Palestinian people in determining their own destiny
- Earlier on Friday, Saudi Arabia said it will not normalize ties with Israel in the absence of a two-state solution with the Palestinians
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
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China, Saudi Arabia sign 60 pacts worth $25bn at Beijing conference
Beijing, China - China and Saudi Arabia signed over 60 MoUs and agreements worth over $25 billion at the investment...
Economy
CBUAE joins the Gulf payments system AFAQ
Abu Dhabi, UAE - The Central Bank of the UAE (CBUAE) joined AFAQ Payments System, which is operated by the Gulf...
Business
Global trade likely to decline in 2023 due to changing trade patterns, geopolitics
DUBAI, UAE - The outlook for 2024 remains “highly uncertain and generally pessimistic,” UNCTAD says in the Global Trade Update,...
Economy
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Business
Riyadh Season draws 9 million visitors to its entertainment zones
Riyadh, Saudi Arabia - The number of visitors to Riyadh Season has surged to over 9 million, indicating a significant...
- Riyadh Season, marked by the slogan "Big Time," completed the spectrum of entertainment choices with top-tier events and festivals across various zones
- Boulevard City zone emerged as a site filled with entertainment options, along with Boulevard World which features a variety of international cultures
SEWA seeks to enhance cooperation with Siemens Energy
Sharjah, UAE -- Sharjah Electricity, Water and Gas Authority (SEWA), has decided to enhance cooperation with Siemens Energy.in developing energy...
- Heads of both the companies on Sunday discussed the latest developments in the energy sector
- SEWA commited to cooperate with all local and international bodies to apply the latest technologies and digital transformation
Business
PIF sets up agri and ecotourism firm Dan Company
RIYADH, SAUDI ARABIA - The Public Investment Fund (PIF) announced on Monday the establishment of Dan Company, specializing in agritourism...
- The company plans to develop unique tourism projects around cities across Saudi Arabia with attractive natural and farmed landscapes.
- Dan aims to involve local communities in imparting experience that enables visitors to fully interact with Saudi regional culture and traditions.