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...
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,...
Business
Business
Dubai records $1.96 billion in weeklong real estate transactions
A total of 2,043 real estate transactions worth AED 7.2 billion ($1.96 billion) were conducted during the week ending 20...
- A total of 228 plots were sold for AED1.14 billion, while 1,328 apartments and villas were sold for AED3.58 billion.
- The amount of mortgaged properties for the week was AED2.28 billion, with the highest being a land in Al Muteena, mortgaged for AED 461 million.
Business
Australian businesses in UAE grew six fold since 2004: Governor General
Australian businesses in the UAE grew six fold and the number of Australians in the Emirates nearly four fold since...
- The number of Australians rose from 4,000 in 2004 to around 15,000 in 2022, said David Hurley.
- Wollongong University opened the first Australian international university in Dubai and other universities followed the suit, he said.
Business
Dubai sees increased trade through commercial wooden dhows in Q1
Dhows coming from outside the country have been given direct access to local markets, including through Deira Wharfage and Al...
- Dhows coming from outside the country have been given direct access to local markets, including through Deira Wharfage and Al Hamriyah Port.
- This has been done to implement the directives of Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai
Business
Airports enhancing technology to thwart threats: Brigadier Alameri
In the face of security threats, airport authorities are enhancing technology-based end-to-end solutions in order to detect and mitigate security...
- Brigadier Alameri said, "technology and old methods like K9 are playing key role in security and detection of explosives or drugs around the airports
- Buti Ahmed Qurwash, Vice President Security, Dubai Airports, focused on the recent critical development in airport security that are being rolled out across airports globally
Economy
Saudi Arabia elected head of ICAO’s Regional Aviation Safety Group
The election took place during the ninth session of the group’s meetings hosted in Riyadh from February 14-17.
- The election took place during the ninth session of the group’s meetings hosted in Riyadh from February 14-17
- The Middle East Regional Aviation Safety Group (RASG-MID) aims to develop an integrated data-driven strategy
Business
Abu Dhabi National Oil Company announces three new oil finds
Abu Dhabi-based group said the 500 million barrels of oil were discovered at Bu Hasa, Abu Dhabi's largest onshore field.
- Abu Dhabi-based group said the 500 million barrels of oil were discovered at Bu Hasa, Abu Dhabi's largest onshore field
- The second oil find was in Abu Dhabi’s Onshore Block 3, operated by Occidental, with around 100 million barrels of oil in place
Economy
Dubai Customs launches ‘Training Doses’ initiative
The initiative will also help in consolidating controls and combat all customs violations, including smuggling.
- The initiative will also help in consolidating controls and combat all customs violations, including smuggling
- The Training Doses initiative is in line with Dubai Customs’ strategic plan, which focuses on developing human cadres
Business
IEA calls on G7 to be ‘first movers’ in lowering CO2 emissions
The International Energy Agency (IEA) has said that G7 economies are well placed to be first movers on driving down...
- The IEA believes that the richest nations can set out a path for the rest of the world for this essential part of the transition to clean energy systems
- G7 members account for around 40% of the global economy, 30% of energy demand and 25% of energy system CO2 emissions
Economy
Egypt raises overnight interest rates to tame inflation
In order to tame soaring prices in the country, the Central Bank of Egypt has raised its overnight interest rates...
- The bank’s Monetary Policy Committee increased the deposit rate to 11.25 percent from 9.25 percent and the lending rate to 12.25 percent from 10.25 percent
- Prices were pushed up in part by a currency depreciation and higher wheat prices after the Ukraine crisis, the statement added
Business
Smart money is in video games, Web3: Futurist at TOP CEO event
Raford contended that people should invest in video games, as it is the only successful digital economy so far.
- Raford contended that people should invest in video games, as it is the only successful digital economy so far
- The metaverse, he said, has extraordinary potential and Dubai is moving rapidly to take advantage of it
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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
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...
Business
Company News
GAL signs MoU with GMF
Business
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ZATCA extends period of exemption of penalties for Saudi taxpayers
Saudi Arabia's Zakat, Tax and Customs Authority has extended the period of Cancellation of Fines and Exemption of Penalties Initiative...
Economy
Two new unconventional nonconventional gas fields discovered in Saudi Arabia
Awtad unconventional nonconventional gas field has been discovered southwest of Ghawar field, 142 km southwest of Al-Hofuf, says Saudi minister
Business
Aramco completes three transactions with Polish refiner and fuel retailer
As part of the transaction, first announced in January 2022, the company acquired equity stakes of 30% in a 210,000...
Business
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Economy
Turkey’s economy to grow 5 percent in 2022: Poll
In 2021, Turkey's economy rebounded from the COVID-19 pandemic to grow 11.4 percent.
- In 2021, Turkey's economy rebounded from the COVID-19 pandemic to grow 11.4 percent
- The Turkish Statistical Institute will announce Q3 GDP growth data at 0700 GMT on Nov 30
Economy
UAE, Cameroon non-oil trade exchange grows by 33.5% in last 10 years
Non-oil trade exchange between the UAE and Cameroon grew by 33.5 percent between 2012 and 2021, reaching $522 million by...
- The total non-oil trade exchange between 2012 and 2021 stood at $4.95 billion, according to figures of the Federal Competitiveness and Statistics Centre
- Non-oil trade between the two countries reached $406 million in the first nine months of this year
Qatar Charity organizes events for its sponsored orphans around the world
The events aim to focus on the rights of the child and the duties of states and societies in order...
- The events aim to focus on the rights of the child and the duties of states and societies in order to protect and care for them
- Sponsored children, including children with disabilities, participated in several activities in Pakistan, Bosnia, Djibouti, Yemen, Somalia, Albania, Tunisia, Kosovo, and Turkey