Abu Dhabi records real estate deals worth $38.7 billion in 2025
Abu Dhabi, UAE -- Abu Dhabi’s real estate market recorded transactions worth a record AED 142 billion ($38.7 billion) in...
Business
Web Summit Qatar 2026 in Doha draws 30,000 participants, global tech leaders
The summit features a high-profile lineup of speakers, including Canva co-founder Cliff Obrecht, IBM Chief Impact Officer Justina Nixon-Saintil, Twitch...
Business
Several MoUs signed at Future Minerals Forum in Saudi Arabia
RIYADH, SAUDI ARABIA – The third edition of the Future Minerals Forum (FMF), organized by the Kingdom’s Ministry of Industry...
- The Ministry of Industry and Mineral Resources and the Japan Organization for Metals and Energy Security signed an agreement.
- The first day of the forum also saw the announcement of unexplored mineral estimates, rising from $1.3 trillion to $2.5 trillion.
Geostrategy
Israelis raid Al-Aqsa, homes of Palestinians in Ramallah
RAMALLAH, PALESTINIAN TERRITORIES / JERUSALEM – Israeli forces carried out Sunday a series of raids in several towns in the...
- The raids targeted the villages of Mazra'a al-Gharbiya, 'Arura, Birzeit, and Jalazone camp, north and west of the city of Ramallah.
- In Hebron, Israeli forces raided Al-Arroub camp and the towns of Beit Ummar and Bani Na'im, stormed homes, and seized vehicles.
Business
DEWA records 12.5 million digital transactions in 2023
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) announced that its customers conducted around 12.5 million digital transactions in...
- DEWA offers digital services for electricity and water management, as well as innovative sustainability services.
- These include smart living initiative, features like consumption monitoring, comparison with high-efficiency homes.
Business
ADQ, ADNEC Group sign agreements
They will buy 40.5% stake in TMG Holding’s hospitality business.
- ADQ and ADNEC will invest through a special purpose vehicle, with 49 percent equity ownership by ADQ and 51 percent equity ownership by ADNEC.
- ICON is a leading player in Egypt’s luxury and upscale hospitality market, with a track record of building and owning some of the most celebrated luxury hotels in Egypt.
Geostrategy
CBUAE cancels license of First Insurance Brokers Company
ABU DHABI, UAE - The Central Bank of the UAE (CBUAE) has cancelled the license of First Insurance Brokers Company...
- The sanction comes as a result of the CBUAE’s decision following the company’s non-compliance with the regulations.
- The CBUAE works to ensure that all insurance companies and related professionals comply with laws and regulations.
Business
NEOM announces Aquellum as futuristic lifestyle community
NEOM, SAUDI ARABIA - The Board of Directors of NEOM has announced Aquellum, a luxury and experiential space embedded within...
- Aquellum is hidden within a breathtaking 450-meter-high mountain range.
- The subterranean digitalized community creates vibrancy and interconnectivity.
Geostrategy
Saudi Arabia signs MoUs with four countries for development in mining industry
RIYADH, SAUDI ARABIA – The Ministry of Industry and Mineral Resources has signed four Memorandums of Understanding (MoUs) with the...
- The roundtable highlighted the need for governments and industry to achieve economic and social development for local communities.
- A total of 79 governments, 13 international organizations, 15 NGOs and seven business associations took part in the roundtable.
Business
FAB issues first Sukuk globally in 2024
ABU DHABI, UAE - First Abu Dhabi Bank (FAB) has issued a five-year US$800 million Sukuk at US Treasury +85bps,...
- The allocation sees 76 percent directed towards dedicated Islamic investors and 38 percent towards international counterparts.
- The 1.9x oversubscribed order book represented high-quality investors, including international fund managers, supranational and banks.
Economy
UAE economy likely to grow by 3.8 percent in 2025, says World Bank
WASHINGTON, US - The World Bank expected the UAE's real GDP to grow by 3.4 percent in 2023, rising to...
- The World Bank forecast the growth in the Gulf Cooperation Council countries to rise to 3.6 percent in 2024 and 3.8 percent in 2025.
- The report said that the growth rate in the Middle East and North Africa region slowed down sharply to 1.9 percent in 2023.
Business
Air cargo demand up 8.3 percent in November 2023, says IATA
GENEVA, SWITZERLAND - The International Air Transport Association (IATA) released data for November 2023 global air cargo markets indicating the...
- This reflects a fourth consecutive month of strengthening demand for air cargo.
- Most of the capacity growth continues to be attributable to the rise in belly capacity.
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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
Abu Dhabi records real estate deals worth $38.7 billion in 2025
Abu Dhabi, UAE -- Abu Dhabi’s real estate market recorded transactions worth a record AED 142 billion ($38.7 billion) in...
Business
Company News
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Salini awarded $600m contract for 400 retail units in Diriyah Square
Riyadh, Saudi Arabia -- Diriyah Company has announced the award of a major new $600 million (SAR2.249 billion) contract for...
Business
UAE, Germany launch joint business council to strengthen economic ties
Berlin, Germany - Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Special Envoy to the...
Economy
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Geostrategy
Dubai Islamic Bank completes $1bn sovereign financing Pakistan
Dubai, UAE -- Dubai Islamic Bank (DIB) has announced the successful completion of a landmark US$1 billion syndicated term-finance facility...
- The five-year facility is an innovative transaction, partially guaranteed by a Policy-Based Guarantee (PBG) from the Asian Development Bank (ADB).
- DIB acted as the Sole Islamic Global Coordinator and alongside Standard Chartered also served as the Joint Mandated Lead Arranger and Bookrunner.
Business
Saudi chocolate industry booms with over 3,500 commercial records
Riyadh, Saudi Arabia -- On the World Chocolate Day, Saudi Arabia's Ministry of Commerce announced that the total number of...
- Riyadh leads the Kingdom in chocolate manufacturing, boasting 1,490 commercial records.
- Saudi Arabia is the region’s biggest market for chocolates and, in 2024, the Kingdom imported a whopping 123 million kg of chocolate.
Geostrategy
Iran voices ‘serious doubts’ over Israel’s commitments, including the ceasefire
Iran also writes to the UN chief to recognize the Israeli regime and the United States as the "initiators of...
- According to Iran's health ministry, at least 627 civilians were killed and 4,900 injured during the 12-day war with Israel.
- Retaliatory missile attacks by Iran on Israel killed 28 people, according to Israeli authorities.