Dubai completes 104 real estate projects worth over $30.22 billion
Dubai completed 104 real estate projects worth more than AED111 billion in the first half of 2026, according to Dubai...
Business
Saudi POS transactions fall to $3.8 billion in week ended Aug 15
Dubai, UAE -- Point-of-sale transactions in Saudi Arabia fell to nearly $3.79 billion in the week ended Aug. 15, from...
Business
Dubai Chamber, Mastercard unveil cyber security program for companies
Dubai, UAE - A program that enables companies to access innovative and affordable cybersecurity solutions was introduced at a workshop...
- The online session attracted more than 80 attendees and was conducted in partnership with Dubai Police and Mastercard.
- Guest speakers from Dubai Police and Mastercard provided insights into local and global cybersecurity breaches.
Business
Investcorp buys stake in SEC Newgate
Investcorp buys majority stake in SEC Newgate for $100m.
- SEC Newgate's other shareholders will roll over 100 percent of their equity investment as part of the transaction.
- The deal values Milan- headquartered SEC Newgate at over US$250 million, an Investcorp statement said.
Economy
UAE finance ministry releases annual report, highlights achievements in 2022
ABU DHABI, UAE - UAE Ministry of Finance (MoF) released its annual report for the year 2022 highlighting performance, initiatives,...
- The Ministry of Finance harnesses all capabilities to support the UAE's competitiveness, aligning with the government visions and directions.
- The ministry has been keen on becoming a model and global reference for best practices and international standards in government financial work.
Business
Iraq exports crude oil worth over US$7bn in June 2023
BAGHDAD, IRAQ - Total crude oil exports in June reached over 100 million barrels, the Iraqi government said in a...
- The majority of these exports - amounting to almost 99 million barrels - originated from the oil fields in central and southern Iraq.
- The average daily export volume was pegged at over 3.3 million barrels. The average price per barrel for the month was recorded at $71.11.
Business
Jordan medical, pharmaceutical exports see 30% growth in first 5 months of 2023
AMMAN, JORDAN Â -Â The pharmaceutical and medical supplies sector of Jordan has experienced an impressive 29.7 percent growth in exports...
- Jordan's exports from the pharmaceutical, medical supplies sector for the first five months of 2023 reached approximately US$375 million.
- The growth has been possible due to regularization, recovery of supply chains, and uninterrupted supply of raw materials and production inputs.
Geostrategy
UAE urges world to address root causes of intolerance, extremism
NEW YORK, US- Advisor to the UAE Minister of Foreign Affairs Salem Al Zaabi called on the international community to...
- Terrorism is a complex, multi-faceted, and global phenomenon that transcends borders, cultures, and religions, said the UAE official.
- The UAE hosted a discussion on terrorist groups’ acquisition, weaponization, and deployment of Autonomous and Remotely Operated Systems (AROS).
Business
Over 1,500 new companies join RAKEZ in Q2, 2023
RAS AL KHAIMAH, UAE - Ras Al Khaimah Economic Zone (RAKEZ) has announced the addition of over 1,500 new companies...
- This robust growth represents a remarkable 132 percent increase compared to the same period in 2022.
- The majority of these investors are from countries such as India, Pakistan, the UK, Egypt and Russia.
Arts & Culture
Saudi Arabia to host 2023 FIFA Club World Cup
RIYADH, SAUDI ARABIA- The Saudi Arabian Football Federation (SAFF) and the Fédération Internationale de Football Association (FIFA) announced on Monday...
- This follows an official visit made by a FIFA delegation to Jeddah last week to inspect the ongoing preparations to host the World Cup.
- FIFA experts inspected the infrastructure and stadiums nominated to host the WC, including King Abdullah Sports City and Prince Abdullah Al-Faisal Stadium.
Business
ADNOC Distribution, HPCL ink agreement
Will help to enhance efficiency of overseas operations.
- With an annual demand of three billion liters, India is among the world’s most significant markets for lubricants.
- ADNOC Distribution aims to enter this dynamic market, gaining access to a vast network of over 28,000 retail stations.
Business
Qatar and Tajikistan chambers to form joint business council
Doha, Qatar - Qatar Chamber and Tajikistan Chamber of Commerce and Industry signed Sunday an agreement to establish a Joint...
- The Joint Business Council aims to facilitate communication between the two parties to increase trade and economic cooperation between the two countries.
- It includes communication mechanisms between business owners in the two countries, and exchanging information on trade and economic cooperation.
Dubai completes 104 real estate projects worth over $30.22 billion
Dubai completed 104 real estate projects worth more than AED111 billion in the first half of 2026, according to Dubai...
Business
Company News
TECOM profit climbs
Business
Latest News
US-Iran framework centers on investment fund, sanctions waiver and nuclear talks
At the center of the memorandum of understanding is a proposed $300 billion private investment vehicle, known as the Reconstruction...
Geostrategy
Gold extends winning streak as oil and dollar weaken
The U.S. Dollar Index fell to 99.53, giving back part of the gains it had recently recorded on safe-haven demand....
Business
Iranian tankers leave blockade zone as US-Iran deal moves toward signing
Iranian crude exports resumed ahead of a planned US-Iran signing ceremony, even as disputes over Lebanon, shipping rules and implementation...
Geostrategy
Most Read
Business
Saudi Arabia’s residential market weakens in Q1 despite price gains
The slowdown was most pronounced in Riyadh, where transaction volumes and values dropped 82% from a year earlier. Activity also...
- Residential transaction volumes fell 50% year-on-year to 29,490 deals during the quarter, while the value of transactions declined 57% to SAR22 billion ($5.9 billion).
- Riyadh Grade A office occupancy held at 97%, supported by limited supply of high-quality workspace.
Business
Etihad enters largest summer season with more than 300 daily flights
Dubai, UAE -- Etihad Airways is entering its largest summer season on record, operating more than 300 flights a day...
- Airline launched four new destinations in four days and is restoring five seasonal routes across Europe and Africa.
- Fleet has expanded by 23 aircraft year-on-year, supporting near-record passenger loads approaching 90% occupancy levels.
Geostrategy
Vance says Hormuz reopening details pending as Israel vows to stay in seized territories
Fresh questions emerged over implementation of the US-Iran agreement as negotiators grappled with security guarantees, territorial disputes and unresolved nuclear...
- The MoU calls for an immediate and permanent end to military operations on all fronts, including Lebanon.
- Israeli Defense Minister Israel Katz warned Tehran against retaliation and threatened further military action if attacked.