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
Business
Souq Al Jubail draws over two million visitors in H1 2022
The sales volume in the fish section of the soup during the six month period reached 2,086 tonnes, while volume...
- The sales volume in the fish section of the soup during the six month period reached 2,086 tonnes, while volume of sales of fruits and vegetables was 2,711 tonnes
- The market comprises 260 shops divided into three parts: the vegetables and fruits, meat and fresh fish section
Geostrategy
UAE, France commit to expand collaboration across all fields
In a joint statement, French President Emmanuel Macron and UAE President Sheikh Mohamed bin Zayed Al Nahyan who visited France...
- They agree to establish a France-UAE Comprehensive Strategic Energy Partnership in a major step to foster energy security and affordability
- The UAE supports global action on food security, and will work with France to find ways to mitigate ongoing pressure on global supply chains
Economy
New business licenses in Dubai grow 25% in H1 of 2022
Dubai issued 45,653 new business licenses in the first half (H1) of 2022, registering a growth of 25 percent compared...
- Dubai issued 45,653 new business licenses in the first half (H1) of 2022, a growth of 25 percent compared to the same period last year
- The numbers reaffirm the success of the government's innovative new strategic approaches and policy amendments
Business
Dubai Metaverse Assembly in Sept to host 300 global experts
The assembly will host more than 300 global experts, policymakers, thought leaders, and decision-makers from more than 40 organizations.
- The global event brings together regional and international experts in Dubai to shape the future of the metaverse.
- It explores how technology can be deployed across vital sectors to create better future and quality of life for humanity.
Business
Zain Group Q2 net profit $165m
The Group will pay a half-year dividend of 10 fils per share.
- Data Revenue grew 3 percent to represent 40 percent of Group Revenue for H1. Kuwait, KSA and Sudan record double-digit growth in revenue and net profit.
- The Group said it recorded 21 percent revenue growth in Enterprise business, as ZainTech enters many strategic partnerships.
Business
Investments in Saudi startups grow by 244 percent in H1 2022
Investments in Saudi startups grew by 244 percent to a record high of SAR 2.19 billion ($584 million) in the...
- In fact, the investments in the first half of 2022 surpassed the total investments in 2021, according to a report by the venture data platform, MAGNiTT.
- The report said the kingdom advanced to become the second-most active VC market in MENA by number of deals, which rose by 36 percent to 79 deals in H1 2022.
Geostrategy
Egypt President says world must jointly deal with energy crisis
Egypt's President Abdul Fattah Al-Sisi underscored the importance of coordination and cooperation among all countries of the world to confront...
- Egypt's President Abdul Fattah Al-Sisi said global coordination and cooperation is necessary to deal with the energy crisis
- He said Egypt is determined to coordinate with friendly countries to tackle tension in its neighborhood
Business
Delta orders Airbus jets
The airline ordered a dozen single-aisle passenger jets worth $1.1 bn.
- Delta grabbed the headlines on the first day of Farnborough show on Monday with a $13.5-billion order for 100 medium-haul MAX jets built by Airbus rival Boeing.
- The Airbus announcement brings Delta's total firm A220 order to 107 of the aircraft.
22 die in a bus crash in southern Egypt
At least 22 people were killed and 33 injured in southern Egypt on Tuesday when the bus they were traveling...
- The bus carrying around 45 passengers crashed into the stationary truck near the village of al-Barsha, some 300 kilometers (185 miles) south of the capital Cairo
- Crashes are relatively common in Egypt, where many roads are in disrepair and traffic regulations frequently ignored
Business
Dubai energy demand shoots up by 6.3% in H1 of 2022
Demand for energy in Dubai has shot up 6.3 percent to 23,096 GWh in the first half of the current...
- He said that the increase in energy demand in Dubai reflects the economic recovery and the return of key activities
- Dubai has benefited from the Fourth Industrial Revolution technologies and implemented robust precautionary measures to ensure business continuity
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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
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UAE, France, India to join hands in energy, climate change sector
The United Arab Emirates, France and India have issued a joint statement announcing the establishment of a trilateral cooperation initiative...
Geostrategy
PIF, AeroFarms to build indoor farms
The farms will have a capacity of 1.1m kg of crops per year.
Business
Arada finalizes first set of homes worth $6.53bn in third phase of Sharjah project
SHARJAH, UAE -- Arada announced on Tuesday that it has completed the first set of homes in East Village as...
Business
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Business
UAE launches ‘Tax Support’ program to promote compliance with laws
Dubai, UAE - UAE's Federal Tax Authority (FTA) started the ‘Tax Support’ initiative to raise tax awareness among UAE’s business...
- The step is likely to help the businesses in enhancing compliance with tax laws and regulations.
- As a result, the first workshop for 2023 under the initiative was held on 24th and 25th January in Oud Metha, Dubai.
Business
DEWA’s virtual employee ‘Rammas’ responds to over 6.8mn enquiries since 2017
DUBAI, UAE - Dubai Electricity and Water Authority’s ( ) virtual employee ‘Rammas’, which uses Artificial Intelligence (AI), answered over...
- DEWA CEO said the firm launched Rammas as part of its strategy to employ AI in all its operations and services.
- Rammas encourages the use of smart channels, reduces the number of visits to DEWA’s Customer Happiness Centers.
Business
MoU signed to establish Arab Digital Foodstuff Market
Abu Dhabi, UAE - As part of the pan-Arab efforts to implement the joint Arab digital economy vision, launched by...
- Ahmed Abu Al Gheit, Secretary General of the League of Arab States; and Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade were present during the signing.
- Members of the Executive Office of the Specialised Arab Federations Forum (SAFF) were also present during the meeting.