RTA inks agreement to develop entry/exit points for Dubai Harbor
DUBAI, UAE - The Roads and Transport Authority (RTA) of the Emirate has entered into a strategic partnership with ‘Shamal...
Geostrategy
Number of millionaires in BRICS likely to rise by 85 percent in 10 years, says report
DUBAI, UAE - The total investable wealth currently held in the BRICS bloc amounts to US$45 trillion and its millionaire...
Business
Business
Dubai real estate market records transaction worth $206m
Dubai real estate market recorded 293 sales transactions worth AED 757.33 million ($206 million), including 73 mortgage deals of AED135.94...
- The sales included 264 villas and apartments worth AED507.79 million, and 29 land plots worth AED249.54 million.
- Mortgages included 67 villas and apartments worth AED127.44 million and six land plots valued at AED8.5 million,
Economy
Women in MENA workforce could hike GDP by $2 trillion: Study
World Bank data indicates only 40% of working-age women in the GCC are employed, even though they are increasingly better...
- World Bank data indicates only 40% of working-age women in the GCC are employed, even though they are increasingly better educated
- Young women face an “expectations vs. reality” gap between their ambitions and their experiences of employers
Economy
Arab Tourism Organization, UNWTO sign memo to promote tourism
UNWTO Secretary Pololikashvili and ATO Secretary Fathi signed the memo at the 116th UNWTO Executive Council session, held recently in...
- UNWTO Secretary Pololikashvili and ATO Secretary Fathi signed the memo at the 116th UNWTO Executive Council session, held recently in Jeddah
- ATO spokesperson Dr Walid Al-Hinnawi said that the memo aims to develop the corporate and human capabilities and encourage investments
Business
ADQ of Abu Dhabi and Jordan set up venture capital fund
ADQ of Abu Dhabi and Jordan have set up a $100 million technology venture capital fund (the Fund) to bolster...
- The Fund will invest in high-growth companies with proven business models, as well as funds primarily focused on Jordan
- With 27 percent of tech entrepreneurs in the MENA region of Jordanian nationality, the country is home to highly skilled talent and more than 600 technology companies
Business
Japan’s Sumitomo will build its largest factory in Egypt
The facility, to be located in the 10th of Ramadan city, will be built over an area of 150,000 sq....
- The facility, to be located in the 10th of Ramadan city, will be built over an area of 150,000 sq. meters, according to a Cabinet statement
- The project, said the managing director of Sumitomo Egypt, Ahmed Magdy, will take a year and a half to be completed and is expected to start operations by 2023 end
Business
Sharjah sees Dh6bn in real estate deals in Q1
The emirate is currently witnessing the launch of related commercial, industrial and residential projects in various cities.
- The emirate is currently witnessing the launch of related commercial, industrial and residential projects in various cities
- Al Shamsi also highlighted the importance of the acres real estate exhibition, which the Sharjah Real Estate Registration Department organises annually
Economy
UAE Central Bank predicts country’s GDP to grow by 4.2 percent in 2023
The CBUAE projected the real GDP growth to reach 5.4 percent in 2022, after the growth jumped to 3.8 percent...
- In its Annual Report for 2021, the CBUAE estimated the non-oil GDP growth to reach 3.9 percent in 2023.
- The oil GDP growth will reach 5 percent in 2023, compared with earlier estimates of 3.4 percent.
Business
Credit businesses need to increase access to finance: EDB CEO
Ahmed Mohamed Al Naqbi, Chief Executive Officer of Emirates Development Bank (EDB), has called on the local and regional banking...
- Ahmed Mohamed Al Naqbi was speaking at Bonds, Loans & Sukuk Middle East 2022, which was held in Dubai.
- Bonds, Loans & Sukuk Middle East Bonds hosted 70-plus speakers, 550-plus sovereign, corporate and financial institution borrowers and 200-plus investors and lenders.
Business
ADU Holding rebranded NEMA
NEMA Holding to establish academic arm, NEMA Education.
- NEMA Education's portfolio includes several higher education institutions and professional training companies, including Abu Dhabi University.
- NEMA Education has over 10,000 students across its educational institutions and thousands of others who receive professional training through its training institutions.
Geostrategy
One third of humanity is still totally offline: UN report
The Global Connectivity Report 2022 argues that while easy, affordable access to fast broadband is near-ubiquitous in most rich-world nations,...
- The report advocates for putting 'universal and meaningful connectivity' at the center of global development.
- The cost of broadband subscriptions and digital devices remains a major barrier to connectivity, the report says.
RTA inks agreement to develop entry/exit points for Dubai Harbor
DUBAI, UAE - The Roads and Transport Authority (RTA) of the Emirate has entered into a strategic partnership with ‘Shamal...
Geostrategy
Company News
Latest News
Invictus 9M net profit $105m
Business
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...
Economy
African Development Fund mobilises $8.9bn for Africa’s low-income countries
ADF is the concessional window of the African Development Bank Group, providing grants and soft loans to the continent’s low-income...
Economy
Workers’ welfare key focus as GCC states strengthen, expand social protection systems, says Saudi minister
The participating Gulf countries highlight labor reforms to ensure protection of workers at the 17th Asia and the Pacific Regional...
Economy
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Arts & Culture
650 artists from 62 nations seek to attend Tuwaiq Sculpture 2030 in Riyadh
Riyadh, Saudi Arabia--- Riyadh Art project will organize "Tuwaiq Sculpture 2030" from Jan 8 to Feb 10, 2023 under the theme...
- Riyadh Art, the organizer, is one of Riyadh's mega projects launched by the Saudi government in 2019 under the leadership of the Crown Prince Mohammad bin Salman.
- During the previous editions, more than 60 local and international sculptors participated in the event, which transforms the capital into an open art gallery.
Business
Abu Dhabi Airports, Bombardier to create aircraft hub in UAE
This represents Bombardier’s first full-service facility in UAE.
- The development of the new Bombardier MRO at Abu Dhabi International Airport is one of several key investments Abu Dhabi Airports is supporting.
- This represents Bombardier’s first full-service facility in the UAE and builds on its long-term commitment to their customers in this critical market.
Business
Vietnamese firms look to benefit from Saudi Vision 2030 opportunities
Riyadh, Saudi Arabia--- As many as 20 Vietnamese companies that participated in the Saudi-Vietnamese Business Forum on Tuesday evinced interest...
- As many as 20 Vietnamese companies that participated in the Saudi-Vietnamese Business Forum.
- The trade between the two countries amounted to about SR8.2 billion in 2021.