Hidden liabilities behind major property deals
UAE property investors must look beyond certificates to uncover hidden fire-safety risks that could affect costs, valuations and returns, writes...
Opinion
Shein’s debut puts its valuation, and its growth story, to test
Shein’s weak debut is a telltale sign that limited share availability cannot disguise investor concerns over valuation and growth, says...
Analysis
Business
Dubai records 5.18m international overnight visitors in Q1
Dubai, UAE -- Dubai welcomed 5.18 million international overnight visitors from January to March 2024, an 11 percent rise over...
- Dubai begun 2024 by being named the No.1 global destination for an unprecedented third successive year in the Tripadvisor Travellers’ Choice Awards.
- From January to March, the Western Europe region was Dubai’s biggest source market with 1.138 million arrivals, a 22 percent overall share.
Business
NEOM, Saudi Red Sea Authority to partner in marine tourism
NEOM, Saudi Arabia -- Saudi Red Sea Authority (SRSA) has signed a memorandum of understanding (MoU) with NEOM to collaborate...
- The partnership will promote the sharing of expertise and enable the implementation and activation of joint initiatives.
- The agreement specified several areas of cooperation, such as supporting opportunities available to investors in coastal tourism and water activities.
Business
Miral Destinations to showcase latest attractions at ATM 2024
Abu Dhabi, UAE -- Miral Destinations, a subsidiary of Miral and promotional partner for Yas Island and Saadiyat Island Abu...
- Scheduled to take place from 6-9 May in Dubai, ATM offers a stage for Miral Destinations to demonstrate its dedication to innovation and sustainable tourism, media reports said.
- Saadiyat Island Abu Dhabi is launching the ‘Elevate your Senses’ campaign during Arabian Travel Market.
Business
UpLink launches initiatives to push circular carbon economy transition
Riyadh, Saudi Arabia -- UpLink, the World Economic Forum community dedicated to supporting early-stage impact-focused entrepreneurs, has announced the launch...
- In collaboration with Saudi Arabia's Ministry of Economy and Planning and Ministry of Energy, UpLink unveiled its Circular Carbon Economy Partnership.
- The partnership aims to select a cohort of 10-20 early-stage startups to receive support in scaling their impact over the next year.
Geostrategy
Saudi Arabia calls for ‘real commitment’ towards a Palestinian state
Riyadh, Saudi Arabia -- Saudi Arabia has called for a "real commitment to a two-state solution that is a credible, irreversible...
- At the WEF meeting, Prince Abdulaziz bin Salman, Minister of Energy, said a just and equitable energy transition will only be achieved by using a range of energy sources.
- Saudi Arabia's tourism sector has nearly doubled, growing from $35 billion to $66 billion, and set its sights on reaching $80 billion this year.
Business
UAE’s Islamic finance sector grows by 8 percent in 2023: S&P
Abu Dhabi, UAE -- The total assets of the global Islamic finance sector continue on a path of rapid growth,...
- The agency expects high single-digit growth in the period 2024-2025 after the sector achieved 8 percent growth in 2023.
- The agency explained in its report that the sukuk market started strong in 2024, with total issuances reaching $46.8 billion by 31st March, 2024.
Economy
Europe reverses course on interest rates, diverging from U.S. Fed policies
For much of the past two years, policymakers on both sides of the Atlantic raised interest rates aggressively to fight...
- The IMF recommended that the ECB cut rates quarterly in quarter-point increments until September 2025
- Monetary policy in the GCC will remain tight, deterring some private sector investment
Business
ADQ buys stake in Plenary Group
The deal is aimed at expanding public and social infrastructure.
- ADQ will acquire a 49 percent stake in Plenary, including all shares currently owned by Canadian pension fund Caisse de dépôt et placement du Québec.
- Established in 2004, the Plenary has a portfolio of 21 assets under management valued at over US$25 billion across Australia and the Middle East.
Business
Qatar reveals program, speakers for Autonomous e-Mobility Forum
Doha, Qatar – The Autonomous e-Mobility (AEMOB) Forum, a groundbreaking initiative in the realm of sustainable transportation, announced its final...
- The event is slated to take place from April 30 to May 2, 2024, at the Qatar National Convention Centre (QNCC) in Doha.
- It has attracted significant sponsorship from over 20 prominent organizations. Notable sponsors include Mowasalat Company (Karwa).
Business
Dubai Chamber attracts MNCs valued at $82.84bn in 2023
Dubai, UAE -- Dubai Chamber of Digital Economy, one of the three chambers operating under the umbrella of Dubai Chambers,...
- Initiatives like 'Create Apps in Dubai' triple app developers, fostering innovation and entrepreneurship in the emirate.
- Through workshops and roadshows, Dubai Chamber engages globally, attracting digital companies to the emirate's burgeoning tech landscape.
Hidden liabilities behind major property deals
UAE property investors must look beyond certificates to uncover hidden fire-safety risks that could affect costs, valuations and returns, writes...
Opinion
Company News
Latest News
Global support for refugees remains strong, but skepticism over asylum claims persists: Ipsos
Thirty-four percent of respondents in the Ipsos survey said genuine refugees should seek asylum in the first safe country they...
Geostrategy
Youth account for over 30 percent of EWEC workforce, utility says
Dubai, UAE -- Abu Dhabi's Emirates Water and Electricity Company (EWEC) said young professionals now make up more than 30...
Business
Sharjah real estate transactions rise 9.3 percent to AED29.5 billion in H1
Dubai, UAE -- Sharjah's real estate transactions rose 9.3 percent year on year to about AED29.5 billion ($8.03 billion) in...
Business
Most Read
Business
Major book publishers sue Google over use of copyrighted books to train AI models
Several major book publishers and authors have sued Google, alleging the technology company illegally copied millions of copyrighted books to...
- The proposed class-action lawsuit was filed on Tuesday in a New York court by Hachette Book Group, Cengage Learning, Elsevier, author Scott Turow and his publishing company, S.C.R.
- The lawsuit also alleged that Gemini can tailor its outputs to imitate the expressive style and creative choices of specific authors.
Geostrategy
US launches fresh strikes on Iran, reimposes Hormuz blockade
Iran strikes US military assets in the Gulf and warned the Strait of Hormuz would remain closed until US military...
- Bahrain activated air raid sirens and urged residents to seek shelter, while Kuwait's military said its air defences were intercepting Iranian drones.
- Oil prices climbed for a second consecutive session as traders weighed the growing threat to energy supplies.
Business
Ajman real estate transactions reach $2.94 billion in first half
Dubai, UAE -- Real estate transactions in Ajman totalled more than 10.8 billion dirhams ($2.94 billion) in the first half...
- The department recorded 6,815 real estate transactions during the January-June period, according to the Ajman Real Estate Index.
- Trading transactions accounted for 5,435 deals worth 7.64 billion dirhams, while 969 mortgage transactions totalled more than 1.88 billion dirhams.