Real estate transactions worth over US$74m take place in Qatar in week
DOHA, QATAR - The volume of real estate trading in the country in sales contracts at the Department of Real...
Business
Construction costs set to rise in UAE, Saudi Arabia in 2024: Report
Dubai, UAE -- Construction costs are set to increase in the UAE by 2-3 percent, and in Saudi Arabia by 5-7...
Business
UAE to invest $1bn in Pakistani companies across various sectors
The move aims to explore new investment opportunities and areas for cooperation in the best interest of the two countries.
- The move aims to explore new investment opportunities and areas for cooperation in the best interest of the two countries
- The two countries will cooperate in various fields, including gas, energy infrastructure, renewable energy, logistics etc
Business
Masdar, TANESCO JV to develop renewable energy projects in Tanzania
As a first step, the two companies intend to develop solar photovoltaic (PV) and onshore wind projects with a capacity...
- As a first step, the two companies intend to develop solar photovoltaic (PV) and onshore wind projects with a capacity of about 600MW
- The joint venture will further explore the development of projects with a total capacity of at least 2,000MW
Business
PIF of Saudi Arabia sets up investment firm in Egypt
Saudi Arabia's Public Investment Company (PIF) has established a new company in Egypt to drive investment in the north African...
- The new company will look at sectors as wide as infrastructure, real estate development, and health care to make investments
- PIF and its portfolio companies, along with the Saudi private sector, will have access to a variety of investment opportunities in Egypt
Economy
Jordanian Senate examines draft investment law
Jordan Senate's Finance and Economic Committee hosted an expert in economic affairs at the National Democratic Institute (NDI), to look...
- Jordan Senate's Finance and Economic Committee examines the draft law regulating the investment environment in the country.
- Investment-related laws should streamline business procedures, economic activities, spur investment and enhance competitiveness of the economy
Economy
FDIs in the UAE grew 116% from 2012 to 2021
According to a report by the UAE's Ministry of Economy, during the past decade from 2012 to 2021, FDIs in...
- FDI in the UAE witnessed significant growth, from $9.5billion in 2012 to $20.6 billion in 2021
- The UAE was ranked 19th globally in the list of top 20 countries that attract FDIs
Economy
Dubai’s weeklong real estate transactions total $1.4bn
In Dubai, the real estate and properties transactions valued at $1.4 billion in total during the week ending 05 August...
- In Dubai, 255 plots were sold for $337 million, 1,510 apartments and villas for $759 million
- During the week, the total number of transactions was 2,247
Economy
UAE to set up country’s first Industry 4.0 Enablement Centre
UAE will set up the country’s first Industry 4.0 Enablement Centre aimed at promoting, enabling, and supporting the digital transformation...
- The UAE ministry of industry and advanced technology will explore how the Enablement Centre can leverage what has been achieved by the EDGE Learning & Innovation Factory.
- Its offerings include learning, innovation, and demonstration to the wider industrial ecosystem.
Geostrategy
Iraq confirms Turkey’s intention to enhance water release
Iraq's Ministry of Water Resources said Ankara's intends to increase the quantum of water to be released to the Tigris...
- Iraq's Ministry of Water Resources said that Turkey will increase the quantum of water to be released in the Tigris River
- The ministry said that a Turkish delegation will visit Iraq to look into the water reserves and construction of dams
Business
Saudi ministry signs smart transportation MoU with Alstom
Saudi Arabia’s Ministry of Investment has signed a memorandum of understanding with Alstom, which specializes in the sustainable and smart...
- The MoU aimed exploring investment opportunities in the transport sector and localize the manufacture and maintenance of trains.
- The MoU also entails Alstom to establish its regional headquarters in the kingdom.
Business
Global H1 air cargo demand up 2.2 percent over pre-Covid levels
Global air cargo demand rose by 2.2 percent in H1 2022 as compared to pre-COVID levels (H1 2019), according to...
- IATA figures indicate a healthy and stable performance across global air cargo markets showing.
- Global demand sunk by 6.4 percent compared to June 2021 levels (-6.6 percent for international operations).
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Real estate transactions worth over US$74m take place in Qatar in week
DOHA, QATAR - The volume of real estate trading in the country in sales contracts at the Department of Real...
Business
Company News
Latest News
Prominent firms in DIFC to tap into wealth across region
DUBAI, UAE - Over 300 prominent wealth and asset management (WAM) firms have established themselves in Dubai International Financial Center...
Business
Abu Dhabi sees 40 percent drop in labor dispute cases
ABU DHABI, UAE - Labor disputes in Abu Dhabi plunged by 40 percent in 2022 compared to the same period...
Business
DMCC posts record Q1 growth as 708 firms register
A total of 3049 new companies joined DMCC in 2022.
Business
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Science
Dubai Chamber reviews software development, Artificial Intelligence sector
DUBAI, UAE - Dubai Chamber of Digital Economy highlighted software development and artificial intelligence (AI) industry in its 10th session...
- Various executives, business leaders and experts of the digital industry discussed at length the challenges and opportunities present in the sector
- Dubai aims to become a top destination for global digital investment and tech talent and is attracting software development professionals,
Economy
Miami to host next edition of Global Priority Summit in 2024
According to FII CEO Richard Attias, the report on the Global Priority Summit will be ready by October 2023, and...
- The summit emphasized the significance of motivation and collaborative efforts as crucial factors for the achievement of Saudi Arabia's Vision 2030
- The FII CEO Richard Attias noted that what made the global conversation at the Miami Summit remarkable was that all speakers mentioned Saudi Arabia as a standard model
Science
WTO 2023 to put spotlight on trade role in sustainable future
GENEVA, SWITZERLAND - The WTO’s annual Public Forum 2023 will focus this year on how trade can contribute to a...
- The Forum will examine in particular how the services sector, digitalization and inclusive trade policies can support global environmental goals.
- Sessions at the Public Forum are organized by representatives from civil society, academia, business, government and international organizations.