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...
Economy
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...
Business
Business
UAE and Mauritius stress boosting economic, commercial relations
The UAE and Mauritius have stressed the importance of boosting economic and commercial relations between the two countries. A meeting...
- Mohamed Hadi Al Hussaini, UAE Minister of State for Financial Affairs, and Renganaden Padayachy, Mauritius Minister of Finance at its Dubai headquarters.
- The meeting took place on the sidelines of the Mauritian delegation’s visit to Expo 2020 Dubai.
Business
Al Arabia of KSA sets up a joint stock firm in Egypt
Al Arabia also known Arabian Contracting Services Co., has set up a joint stock company in Egypt with United Media...
- The outdoor advertising company said in a statement to Tadawul that it aims to bring about “a qualitative leap” in the sector in Egypt
- The joint stock company will operate under a 25-year agreement and establish at least 120 advertising screens in Egypt
Business
UAE and Russia foreign trade reaches $4 billion in 2021
The total foreign trade between Russia and the UAE is set to reach around $4 billion by the end of...
- In 2020, the trade between the two countries amounted to $3.3 billion, said Sergey Cherimin, Minister of the Government of Moscow.
- Russian companies have opened offices in the UAE, and today there are more than 4,000 of them, the minister said.
Business
SEDCO of Saudi Arabia to hike REIT fund by $187m
SEDCO Capital of Saudi Arabia has launched an additional offering of its real estate investment trust fund to increase asset...
- The offering period will run for five days until Dec. 16, the company said in a statement
- SEDCO Capital wants to increase the total asset value of the fund, as well as raise additional equity up to SR575 million
Videos
Reasons behind shortening UAE’s workweek
This week's TRENDS Explainer video tries to find the rationale behind curtailing the number of days in the UAE's workweek...
- The Gulf country is transitioning to a 4.5-day workweek. Now, weekends will consist of Friday afternoon, Saturday and Sunday
- The move makes the UAE the first nation to formalize a workweek shorter than five days. It also brings the country more in line with Western schedules
Business
Emirates Health Services to upgrade executive regulations
The Emirates Health Services (EHS) is looking to upgrade executive and financial regulations and ways to develop the capabilities of...
- The EHS board of directors discussed various ideas at a meeting at its headquarters in Dubai
- The board members reviewed the agendas of the meeting as well as the latest developments and reports submitted by EHS departments to evaluate their performance
Economy
UAE makes color-coded nutritional labeling of food products voluntary
The UAE has made nutritional labeling of pre-packed products as traffic light colors voluntary, after amending a requirement that would...
- From Jan, manufacturers were required to provide a color-coded system of nutritional data in all pre-packed food products.
- An official says AED1.4 billion across the sector by removing the need to modify the labels currently in use or in storage.
Economy
Ruler establishes Dubai Council to deliver Emirate’s future vision
The council will focus especially on boosting the emirate’s leading-edge competitiveness and leadership regionally and internationally.
- The council is expected to formulate and develop Dubai’s future development agenda to support its global competitiveness
- It will apparently also enhance the emirate’s attractiveness by launching major qualitative projects and transformational initiatives
Economy
Dubai reduces carbon emissions by 33 percent in 2020
Dubai reduced its carbon emissions by 33 percent in 2020, which is more than double the target of the Dubai...
- The reduction in emissions is more than double the target of the Dubai Carbon Abatement Strategy 2021.
- The share of clean and renewable energy capacity is now 11.38 percent of Dubai’s energy mix.
Business
Empower lists on DFM
Empower is the world’s largest district cooling services provider.
- Empower was established in 2003 to enable the real-estate sector to efficiently utilize energy through district cooling services
- The company is said to currently have a 79 percent market share in Dubai’s district cooling sector
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
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...
Economy
Company News
Latest News
Tibbiyah suffers H1 loss of $6m
Business
flydubai, Smartwings sign agreement
flydubai will wet lease four Next-Generation Boeing 737-800 aircraft.
Business
By 2030, TAQA targets a 25% reduction in greenhouse gas emissions
The strategy includes the national low-carbon power and water champion’s interim greenhouse gas (GHG) emissions reduction goals.
Business
Mubadala buys stake in EQT Infrastructure’s GlobalConnect
GlobalConnect is a fiber-based data center services provider.
Business
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Business
QatarEnergy becomes 100 percent owner of Siraj Energy joint venture
QatarEnergy bought 49 percent of Qatar Electricity and Water Company’s share in Siraj Energy.
- Siraj Energy was established in 2017 to finance, build, operate, and maintain solar power facilities, and sell electricity generated from solar power, within Qatar.
- Siraj Energy has a 60 percent interest in Siraj (1) which owns and will operate Al-Kharsaa Solar Photovoltaic (PV) Independent Power Project.
Business
Dubai records real estate deals worth $571 million on Thursday
Dubai, UAE---Dubai real estate market recorded realty transactions worth AED2.1 billion ($571 million) on Thursday, Dubai Land Department said. The...
- The transactions included 401 sales deals worth AED1.69 billion, in addition to 77 mortgage deals of AED324.64 million.
- The sales included 373 villas and apartments worth AED687.26 million, and 28 land plots worth AED1 billion.
Business
Lulu Group to list on Abu Dhabi Exchange in 2023
V Nandakumar stressed that the group’s listing is a major opportunity to contribute to the sustainable growth of the Emirati...
- V Nandakumar stressed that the group’s listing is a major opportunity to contribute to the sustainable growth of the Emirati economy
- A number of other firms are considering their IPOs on ADX and the Dubai Financial Market to build up resilience against international uncertainties