Several nations eager to join Charter of Cooperation, says OPEC Secretary-General
ABU DHABI, UAE - Secretary-General of the Organization of Petroleum Exporting Countries Haitham Al Ghais said that OPEC is in...
Business
Videos
Dubai makes rental payment hassle free
An agreement between Dubai Land Department and Emirates NBD eliminates the need for manually managing postdated cheques submitted to landlords.
- Dubai has one of world’s most competitive real estate markets. Rents have increased dramatically in the emirate: In May, the average monthly apartment rent was $7,500.
- Real estate is an important part of the UAE’s economy, responsible for around 5 percent of the gross domestic product.
Science
Saudi Arabia signs Artemis Accords for space exploration
Saudi Arabia announced joining Artemis Accords, affirming its commitment to sustainable space exploration guided by a common set of principles...
- Saudi Arabia is the 21st country and the fourth Middle Eastern nation to join the Accords
- Artemis relies on an international coalition to achieve a historic vision for space exploration
Economy
Dubai retains spot as world’s top tourism FDI destination in 2021
Dubai has retained its top rank worldwide for attracting foreign direct investment (FDI) into tourism in 2021. With AED6.4 billion...
- With $1.74 bn in FDI across 30 FDI projects during the year, Dubai ranked number one in FDI capital, projects, and job creation in the tourism sector.
- Dubai welcomed 7.28 million international overnight visitors in 2021, representing a 32 percent year-over-year growth.
Geostrategy
UAE announces fund to develop and launch advanced satellites
UAE Space Agency on Sunday announced a new AED3 billion ($816 million) national investment and development fund for the space...
- The Fund’s first project to be launched to space will be a constellation of advanced remote sensing satellites using radar technologies to provide advanced imaging capabilities.
- The Fund will encourage partnerships between international and local enterprises, providing them with incentives as a part of the UAE Space Agency’s Space Economic Zones Program.
Geostrategy
Iraqi PM calls for joint efforts to tackle issues facing region
Iraqi Prime Minister Mustafa Al-Kadhimi said the Middle East has been affected by climate change, water crisis, dangers of desertification,...
- The Middle East has been affected by climate change, water crisis, dangers of desertification and COVID-19 pandemic.
- Iraqi Prime Minister Mustafa Al-Kadhimi has called for joint efforts to confront the issues facing the region
Geostrategy
Jeddah Summit enhances ties with US, GCC countries: Saudi minister
Saudi Minister of Investment Eng. Khalid bin Abdulaziz Al-Falih said that the Saudi-US and GCC-US summits, in the presence of...
- Jeddah Summit strengthens solid relations and strategic partnership between the US and GCC countries
- Economic relations between the US and the Kingdom are nearly 90 years old, says Saudi minister
Business
Sharjah records real estate transactions worth $517 million in June
A total of 747 real estate sales in 106 areas valued at $517 million were recorded in Sharjah in the...
- The total number of real estate transactions was 2,521, including 358 mortgage transactions worth AED 764 million (14.2 percent).
- The June real estate transactions in the emirate covered more than 6 million square feet and included residential, commercial, industrial, and agricultural lands.
Geostrategy
Security and stability remain key focus of the region
In a joint statement following the summit -- attended the GCC member states, Jordan, Egypt, Iraq and the US --...
- Leaders attending the Jeddah Security and Development Summit (GCC+3) vow to confront challenges in the region and preserve security in the Middle East
- The leaders also vowed to enhance regional cooperation and integration, and build joint projects between their countries to achieve sustainable development
Business
Real estate transactions worth US$1.5bn recorded in Dubai
Dubai's real estate and property transactions valued at AED 5.5 billion ($1.5 billion) during the week ending 15 July 2022....
- 186 plots were sold for US$162 million, 1,004 apartments and villas were sold for US$662 million
- The amount of mortgaged properties was worth US$561 million, highest being a building in Burj Khalifa
Geostrategy
UAE delegation highlights good governance initiative
The UAE delegation to the 2022 High-Level Political Forum on Sustainable Development (HLPF) at the United Nations (UN) Headquarters in...
- The UAE delegation concludes successful visit to the 2022 High-Level Political Forum on Sustainable Development
- The delegation presents the second edition of the UAE’s National Voluntary Review Report at the UN Headquarters
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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
Company News
Nestle pours $1.8 bn in S Arabia
Business
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15 MoUs in several sectors signed at Saudi-Japan Investment Forum
Riyadh, Saudi Arabia - As many as 15 memorandums of understanding were signed between Saudi Arabia and Japan in several...
Business
DEWA 9th Sustainability Report showcases its progress in sustainable development
DUBAI, UAE - The ninth Sustainability Report 2021 issued by Dubai Electricity and Water Authority (DEWA) highlights its efforts and...
Business
Saudi grants almost 450,000 metric tons of oil to Yemen
AL-MAHRA, YEMEN - The second batch of the new Saudi oil derivatives grant of 4,491,000 metric tons of diesel was...
Geostrategy
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Business
GCC’s digital economy forging ahead rapidly, says Oman IT minister
Muscat, Oman - Saeed bin Hamoud Al Maawali, Omani Minister of Transport, Communications and Information Technology, has said that the...
- He stressed the importance of promoting cooperation between the GCC and its international partners to increase the pace of digital transformation.
- He also noted the need to enhance the cooperation between the UAE and Oman in developing the digital economy infrastructure.
Business
UAE, Morocco discuss ways to boost cooperation in energy, industry
Rabat, Morocco - UAE and Morocco discussed ways of boosting their cooperation and investment opportunities in industry, economy, investments, culture,...
- The discussion occurred between Sultan Ahmed Al Jaber, UAE's Minister of Industry and Advanced Technology and Aziz Akhannouch, Prime Minister of Morocco.
- Al Jaber also held meetings with Riyad Mazour, Moroccan Minister of Industry and Trade, and Leila Benali, Moroccan Minister of Energy Transition and Sustainable Development.
Geostrategy
UAE pledges full support to Jordan, condemns assault on its security
Abu Dhabi, UAE - The UAE has affirmed full support and solidarity with Jordan, stressing the importance of ensuring stability...
- The Ministry of Foreign Affairs and International Cooperation (MoFAIC) expressed the UAE's support for all measures taken by the Jordanian government.
- It said UAE condemns these criminal acts and its permanent rejection of all forms of violence and terrorism aimed at undermining security.