Dubai welcomes record 9.31m international overnight visitors in H1
Dubai, UAE -- Dubai welcomed 9.31 million international overnight visitors from January to June 2024, a 9 percent increase over...
Business
Trump Tower agreement announced in Jeddah following luxury hotel deal in Oman
A Trump Tower is coming to Saudi Arabia, a regional developer announced on Monday, Al Monitor reported. Dar Global and...
Business
Business
Qatar Central Bank’s foreign currency reserves rise to $59bn in August
Official reserves consist of four main components: foreign bonds and treasury bills, cash balances with foreign banks, gold holdings, special...
- Official reserves consist of four main components: foreign bonds and treasury bills, cash balances with foreign banks, gold holdings and special drawing rights deposits.
- In addition to the official reserves, other liquid assets are in foreign currency deposits and the two together constitute what is known as "total international reserves".
Business
ADNEC adopts new corporate identity to support economic diversification
A global hub for major events, ADNEC centre has infrastructure, flexible teams and facilities to provide key services through a...
- A global hub for major events, ADNEC centre has infrastructure, flexible teams and facilities to provide key services through a number of companies
- ADNEC Group encompasses a number of specialised companies that synergistically operate in six main business sectors
Business
ADCB green bond raises $500m
The debut bond that will be issued on 14 Sept was oversubscribed 3.8 times.
- The bond was 3.8 times oversubscribed after attracting local, regional, and international investors that placed total orders of over $1.9 billion.
- The bank said it has embedded ESG into its corporate strategy and has aligned its sustainability approach to the UAE’s ambitions for an inclusive, net-zero economy.
Business
Real estate transactions worth US$544m at Sharjah in August
Real estate transactions in the Emirate of Sharjah totaled US$544 million (AED 2 billion) in August 2022, according to the...
- The total number of transactions according to SRERD records, during the past month amounted to 2,409.
- Mortgage transactions amounted to 303, which is 12.6 percent of the total transactions, with a value exceeding $193 million.
Business
DEWA programs prepare Emiratis to join the organization
Dubai Electricity and Water Authority is committed to promoting Emiratization in its various divisions by adopting an integrated strategy to...
- The MD & CEO of DEWA said that the percentage of Emiratization at DEWA has reached 88.14 percent in senior management.
- DEWA has launched several pioneering projects and programs for the employment of Emiratis.
Research
UAE ranks 1st regionally in UNDP Human Development Report
The UAE has ranked 26th globally and first in the Arab world in the 2021/2022 Human Development Report, which is...
- The Human Development Index (HDI) is a summary measure for assessing long-term progress in three basic dimensions of human development.
- The three basic dimensions are a long and healthy life, access to knowledge and a decent standard of living.
Business
Louvre Abu Dhabi, NYUAD sign collaboration agreement in key areas
Abu Dhabi, UAE -- Louvre Abu Dhabi and New York University Abu Dhabi (NYUAD) signed an MoU to collaborate in areas...
- The MoU involves exchanges among faculty, staff, and students through programmes, events, and research projects and mutual access to institutional facilities.
- The two institutions have collaborated on Reframing Museums, a live, virtual symposium on the challenges and responsibilities facing museums in the light of Covid pandemic.
Economy
UAE stocks post gain of US$2.72bn in market cap
The UAE financial markets on Wednesday posted gains of over US$2.72 billion (AED10.billion) in market cap driven by upbeat sentiments...
- The UAE financial markets on Wednesday posted gains of over US$2.72 billion (AED10.billion) in market cap driven by upbeat sentiments.
- Abu Dhabi index (FTFADGI) rose 0.566 percent to 9,717.38 points while Dubai General Index (DFMGI) slid 0.406 percent to 3,382.31 points.
Geostrategy
Future Investment Initiative Institute to hold events in Riyadh, New York
Riyadh, Saudi Arabia-- The Future Investment Initiative Institute said Thursday two of its major events will be held in September...
- The PRIORITY summit will be held on the sidelines of the 77th session of the UN General Assembly in New York on Sept. 22.
- Serving as platforms aimed at finding solutions to global issues, the two events will bring together experts and policymakers.
Four Saudi universities among top 100 international universities
King Abdulaziz University achieved 4th place globally with 187 patents in one year.
- King Abdulaziz University achieved 4th place globally with 187 patents in one year
- King Fahd University of Petroleum and Minerals achieved 25th place with 91 patents
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 welcomes record 9.31m international overnight visitors in H1
Dubai, UAE -- Dubai welcomed 9.31 million international overnight visitors from January to June 2024, a 9 percent increase over...
Business
Company News
Amwaj merges with Shaqab, Atyab
Business
Latest News
Syria claims US responsible for military escalation in country
BEIRUT, LEBANON – The US is responsible for the military escalation in eastern Syria, where terrorist groups such as the...
Geostrategy
Saudi Arabia, France vow to promote secure, affordable and sustainable energy
RIYADH, SAUDI ARABIA – Prince Abdulaziz bin Salman and Agnes Pannier-Runacher, Minister for Energy Transition of the French Republic met...
Geostrategy
Most Read
Geostrategy
ADFD finances $105.4m energy security project in Tanzania
ABU DHABI, UAE - The Abu Dhabi Fund for Development (ADFD) has signed a loan agreement with the Government of...
- The project’s objective is to fully connect the Kagera administrative region with the national electricity grid.
- It will reduce dependency on energy imports from Uganda and provide sustainable electricity source.
Business
6 MNCs among new businesses attracted by Dubai Chamber in H1
Dubai, UAE - Dubai International Chamber attracted 56 businesses to the emirate during H1 2023, including six multinational corporations and...
- It also supported the expansion of 15 local and national companies into global markets, either by increasing their exports or helping them to establish a presence abroad.
- During H1 2023, Dubai International Chamber inaugurated six global representative offices in Hong Kong, Australia, the United Kingdom, Indonesia, South Africa, and Singapore.
Geostrategy
Ukraine ‘satisfied’ with Saudi-led mediation to end war
Russia, which was not invited to the summit, said that a resolution was possible if Ukraine "stopped the hostilities and...
- Representatives from around 40 countries including China, India, the United States and Ukraine took part in the peace summit, which was held in Jeddah
- The head of Ukraine's presidential office, Andriy Yermak, said there was an agreement on the next meeting, "but there are no exact dates"