136 UN employees killed in Gaza War, says UN chief
NEW YORK, US - UN Secretary-General Antonio Guterres said on Sunday that 136 United Nations employees in Gaza Strip had...
Geostrategy
Sharjah’s ‘Mleiha’ and ‘Al Dhaid’ added to Islamic World Heritage
Sharjah, UAE - The Islamic World Heritage Committee of the Islamic World Educational, Scientific and Cultural Organization (ISESCO) added the...
Arts & Culture
Economy
UAE, UK hold technical workshops on illicit finance threats and risks
UAE and UK authorities met for a series of technical workshops in March 2022 in both Abu Dhabi and London...
- The workshops were held under the UAE-UK Partnership to Tackle Illicit Financial Flows.
- The experts discussed a range of key topics, including understanding money laundering threats and vulnerabilities in the UAE and UK.
Business
Weekly real estate transactions worth $1.44 bn recorded in Dubai
A total 2,012 real estate transactions worth 5.3 billion ($1.44 billion) were conducted in Dubai during the week ending April...
- A total of 236 plots were sold for AED 1.07 billion, while 1,415 apartments and villas were sold for AED 2.96 billion.
- A total of 53 properties were granted between first-degree relatives worth AED 269 million.
Business
Saudi Arabia to penalize owners for not fencing their ‘vacant land’
The Ministry of Municipal, Rural Affairs and Housing of Saudi Arabia has asked owners of vacant plots of land to...
- The ministry intends to beautify the urban landscape, protect property from encroachments, reduce visual distortions, encourage citizens to become environmentally friendly
- The ministry said that Riyadh, Dammam, Makkah, Al-Madinah and Jeddah are the target cities in the first phase where the decision will take effect
Business
DIFC launches ‘Studio Launchpad’ focused on ubiquitous finance
Dubai International Financial Centre (DIFC) has announced the launch of Studio Launchpad, saying it is the world’s first venture studio...
- The Launchpad is supported by an international group of venture building experts, digital asset pioneers and emerging technology strategists.
- Studio Launchpad is designed to attract and engage a consortium of leading start-up and corporate venture studios.
Business
SAMA directs banks to stop opening online accounts
SAMA, the Saudi Central Bank, has directed banks in the kingdom to put a stop to the opening of online...
- As per the new measures that will take effect starting April 10, accounts are to be opened through branches only
- Other measures include limits on daily electronic transfers and holding the international transfers for 24 hours
Economy
Economic licenses issued in Abu Dhabi saw 21.5 percent growth in 2021
Abu Dhabi issued 25,427 new economic licenses in 2021, an increase of 21.5 percent compared to the 2020 figure of...
- The report said that renewed economic licenses increased to 83,484, growing by 15.8 percent, from 72,070 in 2020.
- Of the 25,427 economic licenses issued, commercial sector licenses made up 24,077, up 21.4 percent from 19,839 in 2020.
Business
Saudi Re endorses capital hike
The hike to SR1.336bn will be used to fund expansion plans.
- The hike from SR891 million ($237.5 million) to SR1.336 billion through a rights issue would support its future expansion activities
- Pending approval of the Saudi Central Bank, the Capital Market Authority, and other regulatory authorities, this move will strengthen Saudi Re’s capital base
Business
Ma’aden extends MoU with Emirates Global Aluminium
The MoU will enable the two companies to deepen the focus on R&D, aiming at both conventional and green technologies.
- The MoU will enable the two companies to deepen the focus on R&D, aiming at both conventional and green technologies
- Ma’aden’s operates the largest vertically integrated aluminium complex in the world in Ras Al Khair on Saudi Arabia’s east coast
Business
Air travel recovery gathering steam as Covid restrictions eased: IATA
The accelerated growth recorded in February 2022 compared to a year ago, is helping passenger demand catch up to 2019...
- The traffic of Middle Eastern airlines rose 215.3 percent in February compared to February 2021
- This was well up compared to the 145.0 percent rise in January 2022, versus the same month in 2021
Economy
‘Islam forbids infringement on intellectual property rights’
The Committee for Ifta pointed out that ideas have value according to the regulations issued in this regard, and therefore...
- The Committee for Ifta pointed out that ideas have value according to the regulations issued in this regard, and therefore an infringement on them is not permissible
- The Committee warned against taking possession of the intellectual rights of others, benefiting from them, or taking compensation for them except with the permission of their owner
Most Read
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
136 UN employees killed in Gaza War, says UN chief
NEW YORK, US - UN Secretary-General Antonio Guterres said on Sunday that 136 United Nations employees in Gaza Strip had...
Geostrategy
Company News
ADCB Q3 net profit at US$432m
Business
Latest News
AD Ports Group, TotalEnergies partner to explore solar power opportunities
The agreement comes as Abu Dhabi accelerates its development of solar energy solutions to support the wider UAE net-zero emissions...
Economy
Jordan and Iraq to deepen political, economic ties
Amman, Jordan— Jordan and Iraq have renewed their commitment to deepen political and economic ties between the two neighboring countries....
Economy
Leader of House of Commons urges Kuwaiti entrepreneurs to invest in UK
Kuwait City, Kuwait— Encouraging Kuwaiti entrepreneurs to make investments in the UK, Penny Mordaunt, Leader of the House of Common,...
Business
Most Read
Geostrategy
UAE, Turkmen presidents’ meet, witness signing of MoUs, pacts
The agreements included one between the foreign affairs ministries of the two countries and an MoU in the agricultural and...
- The agreements included one between the foreign affairs ministries of the two countries and an MoU in the agricultural and food security sector
- The two leaders also exchanged views on several regional and international issues of mutual concern
Business
DMCC digitises gold trading through tokenisation of Comtech gold bullion
DMCC Tradeflow is an online platform for registering the ownership of commodities stored in UAE facilities.
- DMCC Tradeflow is an online platform for registering the ownership of commodities stored in UAE facilities
- The partnership with Comtech Gold adds to Tradeflow’s list of Shariah compliant products, given that the tokens are backed by physical assets
Business
UAE approves law to link up renewable energy units with electrical grid
Abu Dhabi, UAE— The UAE's Ministry of Energy and Infrastructure has announced the approval of the federal law regulating the...
- The new law aims to enable the production of electricity from renewable sources and achieve the UAE's objectives in terms of diversifying renewable energy sources
- The UAE has made large investments over the last several years to develop renewable sources of energy