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Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

Etihad Q1 profit $187 million

This is a 30% YoY increase over Q1 2025.

Real estate trading volume in Qatar exceeds US$88m in week

DOHA, QATAR - The volume of real estate trading in sales contracts at the  Department of Real Estate Registration at...
  • Total sales contracts for residential units in the Real Estate Bulletin for the same period is US$19.7 million.
  • A weekly bulletin shows that the list of real estate properties traded for sale included vacant lands, houses, hotel.

PIF sets up Tasaru Mobility Investments

The firm will drive strategic investments and partnerships
  • The company will focus on developing local supply chain capabilities for the automotive and mobility industry in Saudi Arabia.
  • PIF has invested in the future of mobility, including establishing Saudi Arabia’s first national electric vehicle brand, Ceer, in partnership with Foxconn.

Red Sea International Film Festival to showcase 14 short films

Jeddah, Saudi Arabia - The Red Sea International Film Festival (RSIFF) unveiled Monday the lineup of international short films participating...
  • The theme of this year's event is "Your Story, Your Festival" and will screen films by industry professionals from Asia and Africa
  • 14 films will be showcased in the event by filmmakers from countries such as Singapore, Senegal, Kazakhstan and Pakistan

IMF forecasts UAE GDP growth of 3.4% in 2023

MARRAKESH, MOROCCO - The International Monetary Fund (IMF) has forecast that the UAE's real Gross Domestic Product (GDP) will grow by...
  • The IMF's forecast is in line with that of the World Bank, which released a similar estimate two days ago.
  • It forecast that the economies of Middle East and Central Asia will grow by 2 percent in 2023 and 3.4 percent in 2024.

Oil prices spike as Hamas attack on Israel fuels supply fears

The attack and Israel's declaration of war in response to it have raised concerns that a potential broadening of the...
  • The crisis fanned concerns about supplies of crude from the region at a time when supply worries are already high
  • It has also renewed fears about the impact on inflation, with energy costs a key driver of spiking prices

Dubai at top global ranking for attracting Greenfield FDI projects in H1 2023

DUBAI, UAE - Dubai remains the top global destination for attracting Greenfield Foreign Direct Investment (FDI) projects, with the emirate...
  • During the first half of 2023, Dubai’s global share in the attraction of Greenfield FDI projects stood at 6.58 percent.
  • The results align the Dubai Economic Agenda D33, which aims to double the size of the emirate’s economy over the next decade.

Saudi Arabia, India ink MoU on electrical interconnectivity, green hydrogen

RIYADH, SAUDI ARABIA - India and Saudi Arabia signed a Memorandum of Understanding (MoU) here in electrical interconnection, green/clean hydrogen,...
  • The signing took place during the Middle East and North Africa Climate Week 2023 in Riyadh, Saudi Arabia.
  • The MoU was signed by Saudi Arabia’s Minister of Energy and India’s Minister of Power and New and Renewable Energy.

Hotels in UAE generate revenues of US$7bn in first seven months, says minister

ABU DHABI, UAE - In the first seven months of the year, hotel establishments in the UAE generated revenues of...
  • Hotel establishments in the country hosted 16 million guests in in the first seven months of 2023, said the UAE economy minister.
  • Some 56 million hotel nights have been booked while the occupancy rate reached 75 percent from January to July.

Dubai Customs strengthens partnerships with courier firms to expand e-commerce

DUBAI, UAE - Dubai Customs recently convened an extensive meeting with the courier and express shipping companies, aimed at bolstering...
  • Dubai Customs unveiled its cutting-edge e-commerce project, strategically leveraging blockchain technology to streamline supply chain operations.
  • It also addressed all queries from participating companies and shared insights into the department's systems in this context.

Dubai’s weeklong real estate transactions exceed US$2.5bn

DUBAI, UAE -  A total of 1,445 real estate transactions worth over US$2.5 billion (AED 9.5 billion) were conducted during...
  • The Dubai Land Department report showed that 248 plots were sold for US$476 million.
  • The DLS report said 1,197 apartments and villas were purchased for US$865 million.

DP World posts record $20bn revenue

The adjusted EBITDA rose by 6.7% to $5.5bn in 2024.

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DMCC registers 2,692 new companies in 2023, its second-best year on record

Dubai, UAE -- A total of 2,692 new companies joined Dubai Multi Commodities Centre (DMCC) last year, bringing the total...

Amman Chamber of Industry exports for January-February 2024 reaches $1.3bn

AMMAN, JORDAN - Amman Chamber of Industry (ACI) exports amounted to US$1.3 billion (JD926 million) during the last two months...

Saudi Tourism Authority, Trip.com Group sign global agreement

BERLIN, GERMANY – Saudi Tourism Authority (STA) and Trip.com Group have announced a significant global partnership, which will drive greater...

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Burjeel Holdings net profit up

The company’s 2023 annual revenue rises to US$1.2 billion.
  • The group continued to implement its geographic expansion strategy with the launch of the PhysioTherabia rehabilitation network in Saudi Arabia.
  • It opened eight new centers in March 2024 in Riyadh, Jeddah, Dammam, Khobar, and Yanbu which significantly expanded its geographical reach.

Over 105m people visit Dubai Mall in 2023

DUBAI, UAE – Dubai Mall welcomed a record 105 million visitors in 2023, a jump of over 19 percent on...
  • Figures also showed a staggering 20 million people visited the mall in the first two months of this year alone.
  • The mall's events and promotions in 2023 and the beginning of 2024 were a key driver of its foot traffic.

Saudi Arabia’s Purchasing Manager’s Index rises to 57.2 points in Feb

RIYADH, SAUDI ARABIA - The seasonally adjusted Riyadh Bank Saudi Arabia Purchasing Managers’ Index (PMI), formerly S&P Global Saudi Arabia...
  • The PMI is a weighted average of five indices – new orders, output, employment, suppliers’ delivery times, stocks of purchases.
  • In January, the index reached its lowest level in two years, indicating a strong but weaker improvement in Saudi non-oil private sector.