Sharjah records real estate transactions worth US$980m in October 2023
SHARJAH, UAE – A total of 3,798 transactions were conducted here in October 2023 across various regions of the emirate,...
Business
Business
Moro Hub teams up with Swedish firm
Moro Hub, the digital arm of DEWA, has signed an agreement with Axis Communications, a Swedish company, offering video surveillance...
- This partnership is part of Moro Hub’s effort to accelerate its drive to promote Integrated Physical Security in the UAE and GCC
- Moro Hub will now offer government and enterprise clients across varied verticals, including transport, utilities and energy, healthcare, retail and financials
Science
World’s first hydrogen-powered flying boat, ‘THE JET,’ set to launch in Dubai
Swiss based start-up THE JET ZeroEmission announced that it has inked an agreement with Zenith Marine Services LLC, a UAE...
- ‘THE JET’ features cutting-edge characteristics and technologies, making it capable of flying in silence over the waters at a cruising speed of 40 knots
- The flying boat’s cutting-edge fuel cell technology will be delivered in Dubai for a historic inaugural flight, during the next COP28 UAE preparatory meetings
Business
Arab Bank profit up 61%
The net income after tax rose from $195.3m to $314.5m.
- The Arab Bank Group consolidated the financial statements of Oman Arab Bank under its group accounts
- This increased total assets by $8.4 billion to $63.8 billion, compared to $54.4 billion for the same period last year
Geostrategy
Oman, Finland explore boosting trade, investment cooperation
The meeting explored the available opportunities in the two countries, particularly in the fields of tourism, industry, research, mining and...
- The meeting explored the available opportunities in the two countries, particularly in the fields of tourism, industry, research, mining and economic diversification sectors
- An agreement of cooperation was signed by companies from both countries, which will contribute in the transfer of knowledge and grooming the skills of Omani youth
Geostrategy
UAE intercepts, destroys ballistic missile launched by Houthis
The UAE Ministry of Defence gas confirmed there were no casualties resulting from the attack and the fragments of the...
- The attack comes exactly a week after missiles launched by the Houthi in Yemen targeted the UAE and Saudi Arabia
- It also comes exactly two weeks after at least three people were killed in a Houthi attack on the UAE capital of Abu Dhabi
Geostrategy
Bahrain foreign minister, Turkish counterpart discuss ties
Dr. Al Zayani welcomed his Turkish counterpart, praising the friendly relations between the two countries.
- Dr. Al Zayani welcomed his Turkish counterpart, praising the friendly relations between the two countries
- Çavuşoğlu hailed the friendly relations between the two countries, stressing the keenness of Turkey to improve relations and cooperation
Business
Arab countries offer Iraq to set up industrial cities
Iraq signed the first agreement to build an economic city with Jordan.
- Iraqi ministry revealed that it has received several offers from Syria, Jordan, Saudi Arabia, Iran and Kuwait to build industrial cities in the country
- The first contract was signed in the holy Karbala for the construction of an industrial city specialized in petrochemicals and engineering
Business
Abu Dhabi Maritime to control ferry services functioning in Emirates
The organization is integrating the Ferry Operations Branch of the Integrated Transport Center under the scope of its services.
- The move will see Abu Dhabi Maritime manage and oversee the daily operation of the emirate’s two major ferry lines
- The organization will also drive the development of several key business areas associated with ferry operations
Geostrategy
UAE deputy PM attends ‘Arab Gulf Security 3’ exercise in KSA
Deputy Prime Minister and Minister of the Interior of the UAE Lt. General Sheikh Saif bin Zayed Al Nahyan attended...
- Participants in the exercise implemented security scenarios in detail, which has proven the success of this joint GCC mobilization
- Increasing the level of coordination, readiness, and preparedness among security forces were also discussed in the exercise
Dubai Academic Health Corporation embarks on four-pronged future plan
The Dubai Academic Health Corporation has agreed on four bases as a part of its strategic plans and future goals....
- The four bases of the strategy are Care, Learning, Discovery, and Giving and Stewardship.
- The strategy was discussed at the fourth Board of Directors meeting of the Dubai Academic Health Corporation.
Sharjah records real estate transactions worth US$980m in October 2023
SHARJAH, UAE – A total of 3,798 transactions were conducted here in October 2023 across various regions of the emirate,...
Business
Company News
Yahsat to pay $53.5m H1 dividend
Business
Wizz to set up fleet in KSA
Business
Latest News
World economy projected to more than double in size by 2045: OPEC
The global primary energy demand is forecast to continue growing in the medium and long-term, increasing by a significant 23%...
Economy
Egypt’s Sovereign Fund accumulates assets worth $621m
Riyadh, Saudi Arabia— Egypt's Sovereign Fund has accumulated assets worth $621-660 million as it seeks to double it by the...
Business
WB expects UAE’s real GDP to grow by 5.9% in 2022
The global financial institution said higher oil receipts supplemented with a gradual non-oil recovery in the Emirates will bolster fiscal...
Economy
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Infographics
Major Saudi Arabian cities witness strong demand for residential, office real estate
Saudi government policies like 15 percent VAT exemption on real estate deals and affordable housing programs are boosting residential real...
- Rents and prices for residential real estate in Riyadh and other major cities such as Jeddah is growing, according to JLL.
- The Saudi real estate market is expected to register a CAGR of more than 9.74 percent during 2022 - 2027, according to Mordor Intelligence.
Geostrategy
UAE, Kyrgyz Presidents review bilateral relations
ABU DHABI, UAE - President Sheikh Mohamed bin Zayed Al Nahyan Monday received President of the Kyrgyz Republic Sadyr Japarov,...
- UAE and Kyrgyzstan affirmed their common interest in enhancing bilateral relations.
- The meeting explored various opportunities of the UAE- Kyrgyz friendship and affirmed to further cooperation in economy, trade.
Business
DEWA adds 600MW of clean energy production capacity
DUBAI, UAE - MD and CEO of Dubai Electricity and Water Authority Saeed Mohammed Al Tayer said DEWA had added...
- Mohammed bin Rashid Al Maktoum Solar Park will have a production capacity of 5,000 megawatts (MW) by 2030.
- The fifth phase is currently underway, with a total capacity of 900MW and investments estimated at $560 million.