Record-breaking home sales in Dubai’s upscale market in 2023

• Among the communities tracked by CBRE, in 2023, Palm Jumeirah registered the highest volume of transactions in both the prime and super-prime market segments
• Off-plan sales in the $1.35 million and $2.70 million segments of the market accounted for 67.2% and 70.8% of total transaction volumes, respectively

Lunate Capital launches Shariah-compliant ETF tracking Indian equities

• The fund will track the performance of Shariah-compliant Indian equities listed on the Bombay Stock Exchange.
• The Index tracks the performance of the 30 most liquid Shariah-compliant Indian stocks listed on the BSE.

Morocco joins UAE, Jordan, Egypt, Bahrain in regional industrial collaboration

• Morocco is expected to bring significant value to the partnership, given the country’s advanced industrial capabilities
• The country's GDP exceeded $134 billion in 2022 and its industrial sector provided over 1 million jobs, through some 121,000 companies

The UAE President swears in 3 new ministers

• President Sheikh Mohamed extended his best wishes to the ministers for success in their new roles
• Sheikh Mohammed bin Rashid said that the UAE leadership places great importance on enriching the government's workforce

UAE passport most powerful in MENA region, 11th in global index

• The UAE has been the most improved nation on the Index over the past decade, adding an impressive 106 destinations to its visa-on-arrival list since 2014
• The country's passport continues to lead the region, outpacing other Gulf nations, with Qatar at 53rd, Kuwait at 55th, Bahrain at 59th, Oman at 60th, and Saudi Arabia at 61st

Saudi PIF Governor: Global demand for metals to rise sixfold by 2040

• Al-Rumayyan said the Ma’aden mining company owned by the PIF has expanded its exploration activities for gold, zinc, lithium, and other metals
• He revealed that the Kingdom’s mineral wealth currently stands at US$1.3 trillion, with a target to increase it to $1.5 trillion

WEF 2024 aims to bridge trust gaps amid global discord

• The WEF 2024 entails sessions addressing global security, economic growth, climate action, technological disruption, and health and well-being
• The forum will emphasize public-private collaboration to translate ideas into actionable solutions, acting as an accelerator for cooperation among leaders and initiatives

Middle East air cargo volumes up 13.5% in November

• Global demand for air cargo, measured in cargo tonne-kilometres (CTKs), increased by 8.3% compared to November 2022
• Most of the capacity growth is attributed to the increase in belly capacity as international passenger markets continue their post-COVID recovery

Bitcoin surpasses $47,000, first time since March 30, 2022

• Bitcoin, originating in 2008 under the pseudonym Satoshi Nakamoto, operates as a decentralized digital currency
• The robust trading volumes in Bitcoin mining firms signal a heightened investor interest, underlining the increasing prominence of cryptocurrencies

Saudi Arabia tops MENA in venture capital investment in 2023