Dubai real estate market records $925 million in daylong transactions
Dubai, UAE -- Dubai's real estate market recorded 510 sales transactions worth AED1.36 billion on Tuesday, in addition to 210...
Business
Qatar real estate trading volume reaches US$91m between January 7-11
DOHA, QATAR - The volume of real estate trading in sales contracts at the Department of Real Estate Registration at...
Business
Economy
UAE highly values intellectual property system, fosters innovation: Al Marri
The UAE attaches great importance to developing the intellectual property (IP) system and encouraging innovators and creators and the country...
- UAE Minister of Economy Abdullah bin Touq Al Marri stated this during meetings with World Intellectual Property Organisation, UNCTAD, WEF officials.
- The meetings were held on the sidelines of the UAE's participation in WTO's 12th Ministerial Conference (MC12) held recently in Geneva, Switzerland.
Business
Abu Dhabi Ports, National Marine Dredging Company set up JV
The Abu Dhabi Ports Group inks deal with National Marine Dredging Company Group to set up a JV to conduct...
- AD Ports Group, NMDC Group to set up a JV to conduct offshore surveys and subsea services
- The JV firm will offer geophysical and geotechnical, trenching and dredging support services
Business
UAE’s gender diversity policy sees more women in board positions
In 2020, women held 3.5 percent of all board positions in the UAE. The next year, the Securities and Commodities...
- Aurora50, a social enterprise working towards gender parity in GCC boardrooms, and Mohammed Bin Rashid School of Government have conducted first-of-its kind gender diversity study.
- The study report said 77 of the 868 board seats from the 115 listed companies on the ADX and Dubai Financial Market are now held by women.
Economy
Dubai records decade-high sales transactions in May
Mo’asher’s data for May highlights the continuous positive performance of Dubai's real estate sector throughout 2022.
- The emirate's real estate market recorded a total of 6,652 sales transactions in May 2022, a 52 percent increase in volume and a value growth by 66 percent
- Mo’asher’s data for May highlights the continuous positive performance of Dubai's real estate sector throughout 2022
Business
ENOC to open 10 new eLink stations
The group has seven eLink stations, five located in Dubai and two in Abu Dhabi.
- The eLink station is a mobile fuelling format that enables motorists and customers with easy access and convenient fuelling services.
- Since its launch, eLink has fuelled over 100,000 vehicles with a total fuel volume of nearly 5 million.
Geostrategy
Egypt, European Union review cooperation on climate and energy challenges
Egypt and the European Union have reviewed and discussed enhanced cooperation on climate, energy and industrial transformation challenges ahead of...
- A joint statement was issued by EU and Egypt following a meeting between European Commission President Ursula von der Leyen and Egyptian President Abdel Fattah El Sisi.
- The cooperation will have a particular focus on renewable energy sources, hydrogen, and energy efficiency.
Morocco and Israel face off in women basketball ‘friendly’ game
The Moroccan women's basketball team hosted their Israeli counterparts for the first time on Wednesday in a quiet slice of...
- According to the Israel Basketball Federation (IBBA) website, it was the first time that Arab female players had faced an Israeli national team in their country
- There were no spectators at the invitation only event
Geostrategy
Jordan king discusses food security with European Commission president
The meeting covered regional and international developments, especially the Palestinian cause.
- The meeting covered regional and international developments, especially the Palestinian cause
- The meeting also discussed integrating efforts to counter food security, environment challenges
Economy
GCC central banks raise interest rates
Taking a cue from US Federal Reserve's decision to hike interest rate, Saudi Arabia, the UAE, and Bahrain have raised...
- The Saudi central bank raised repo rate by 0.5 percent to 2.25 percent from a previous 1.75 percent, and the reverse repurchase agreement (reverse repo) rate by 0.5 percent
- The UAE was quick to follow Saudi Arabia in hiking interest rate
Business
Tecom lists 12.5% shares on DFM
Price for the 625,000,000 shares ranges between AED2.46 and AED2.67 per share.
- Tecom Group, the owner, manager and operator of 10 business districts across Dubai, will float 625,000,000 shares
- The qualified institutional offering and the exempt offer subscription period is expected to run from June 16-24
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Dubai real estate market records $925 million in daylong transactions
Dubai, UAE -- Dubai's real estate market recorded 510 sales transactions worth AED1.36 billion on Tuesday, in addition to 210...
Business
Company News
Latest News
Chinese flags flutter in Saudi capital as Xi visits kingdom for first time since 2016
Riyadh, Saudi Arabia---The Saudi capital was bedecked with Chinese flags ahead of President Xi Jinping's visit on Wednesday that is...
Geostrategy
AD Ports Group, Africa Finance Corporation sign collaboration agreement
Abu Dhabi, WAM---AD Ports Group has signed a collaboration agreement with the Africa Finance Corporation (AFC), an infrastructure solutions provider...
Business
CBUAE imposes financial sanction on UAE exchange house
The financial sanction, amounting to AED1,925,000 ($524,166) followed the findings of an examination conducted by the CBUAE.
Economy
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Economy
S&P Global says Egypt non-oil businesses contract in November
Cairo, Egypt—Egypt’s non-oil businesses have shown a contraction in November, resulting in output falling at the sharpest rate since the...
- Egypt’s Purchasing Managers’ Index fell from 47.7 in October to 45.4 in November — the second lowest since June 2020.
- According to S&P Global, Egypt’s purchase price inflation hit a 52-month high, leading 42 percent of surveyed firms to report a rise in total input costs over the month
Economy
Jordan’s ‘New City’ project to create 90,000 jobs: Govt
The project is part of the state's economic vision and aims to accommodate the population increases in Amman and Zarqa.
- The project is part of the state's economic vision and aims to accommodate the population increases in Amman and Zarqa
- The goverment hopes to start implementing the project in 2025, ending the first phase in 2033
Economy
Dubai ruler evinces support for global economic growth
Reiterating Dubai's resolve to work in collaboration with its global partners, Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum...
- He spoke while touring the 43rd edition of the Big 5, the largest and most influential construction event in the Middle East, Africa and South Asia, at the Dubai World Trade Centre
- More than 2,000 participants from 60 countries are participating in the event, which includes 20 national pavilions