Dubai real estate sales up despite price rise since January 2020
Dubai, UAE – The Dubai Land Department (DLD) reported over 3,200 transactions worth AED 24.7 billion last week and this...
Business
Global space economy is worth billions, say experts
ABU DHABI, UAE - The global space economy has great potential in terms of economic prospects, with the sector going...
Business
Arts & Culture
Sharjah International Book Fair world’s largest publishing event in 2021
The Sharjah International Book Fair (SIBF) has emerged as the world’s largest book fair this year, attracting the participation of...
- The fair saw the participation of 546 publishers and literary agents from 83 countries.
- In the run up to the fair, SIBF Publishing Conference serves as a platform for buying and selling rights and signing book deals.
Business
Trade surges 69% to AED15.84bn between UAE and Italy in 2021
Trade between the United Arab Emirates (UAE) and Italy has surged 68.6 percent to AED15.84 billion in the first half...
- Imports too showed remarkable strength touching AED11.33 billion while exports hovered around AED3.65 billion
- Direct trade amounted to AED12.954 billion, whereas free zone trade totaled AED2.839 billion
Business
Air Arabia Q3 net profit $56 million
The airline said it served over 1.9 million passengers from its five hubs.
- The company’s turnover for the said quarter increased by 174 percent to AED804 billion, compared to AED294 million in the corresponding period last year.
- During the first nine months of the year, Air Arabia added 43 new routes to its global network from its hubs in the UAE, Morocco, and Egypt.
Arts & Culture
Riyadh Art launches Tuwaiq Sculpture Symposium
Tuwaiq Sculpture is the second public art programme to be launched as part of Riyadh Art,
- Tuwaiq Sculpture is the second public art programme to be launched as part of Riyadh Art
- More than 400 sculptors across 71 countries have applied to participate in the symposium
Economy
UAE, Bahrain to establish joint investment fund in both countries
“The governments of the UAE and Bahrain, in light of the fraternal ties and long-term mutual interests between the two...
- According to the Bahrain News Agency, Mumtalakat and Mubadala Investment Co will launch the new fund together
- Bahraini Crown Prince Salman bin Hamad Al Khalifa announced the deal during a visit to the UAE
Business
ADX, Bahrain Bourse partner to unlock joint opportunities
The parties agreed on a strategic plan to implement new measures over the next nine months to strengthen ties between...
- As part of the agreement, ADX and BHB have agreed to introduce a number of products and services including Exchange Traded Funds (ETFs)
- As part of ADX’s strategy for growth announced at the beginning of the year, the exchange is forging partnerships with global exchanges
Business
TAQA nine-month net income $1.17 bn
The total revenue is 11 percent higher than the same period last year.
- TAQA’s Board of Directors announced an interim cash dividend of AED618 million ($168.25 million).
- The EBITDA was AED14.4 billion ($3.92 billion), an increase of 20 percent from last year.
Geostrategy
UAE calls for inclusive climate agenda for COP28
Investing in low-carbon solutions in the energy sector will drive economic prosperity, says UAE Special Envoy for Climate Change Sultan...
- The UAE has offered to host COP28 in 2023. The Asia Pacific Group of nations had endorsed the UAE's bid.
- Investing in low-carbon solutions in the energy sector will drive economic prosperity, says UAE Special Envoy for Climate Change Sultan bin Ahmed Al Jaber.
Business
ACWA Power loss in Q3 $5.8 million
The company said losses due to IPO-related issues and payments.
- The company's profit in the same quarter a year ago was SR541 million.
- The net profit of the first nine months of this year also went down by half to SR434 million.
Business
ADNOC Drilling 9M revenue $1.7 bn
This was the company's first quarterly disclosure since listing on ADX.
- The Company reported an EBITDA of $785 million and a net profit of $460 million for nine months of 2021.
- The onshore revenue for the nine months was $847 million, up 10 percent compared to the same period last year.
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Dubai real estate sales up despite price rise since January 2020
Dubai, UAE – The Dubai Land Department (DLD) reported over 3,200 transactions worth AED 24.7 billion last week and this...
Business
Company News
Latest News
Saudi Arabia hopes to post budget surplus of US$24bn
Saudi Arabia is expecting to record an increase in its budget surplus in 2022 to S24 billion, according to the...
Economy
Saudi to make US$32bn in income from recycling by 2035
Saudi Arabia is expected to generate an annual income of $32 billion from recycling waste by 2035, according to the...
Business
Abu Dhabi launches healthcare grant to help research, innovation
The Department of Health – Abu Dhabi (DoH) launched the first edition of the Healthcare Research and Innovation Grant, a...
Science
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Science
Two-day inaugural RAK Energy Summit to begin on Oct 4
The inaugural RAK Energy Summit, to be held on October 4-5, will feature experts from the energy sector in the...
- The summit will feature experts from the energy sector in the UAE and globally.
- The experts will discuss the challenges the world faces as it moves to cut carbon emissions.
Business
Dubai real estate market performance in Aug best in decade
A total of 9,720 real estate sales worth $6.62 billion were recorded during the month, an increase of 69.57 percent...
- The top areas searched for sales in August were Dubai Marina, Downtown Dubai, Business Bay, Palm Jumeirah, Jumeirah Village Circle, and Jumeirah Lake Towers.
- Most searched areas for villa/townhouse sale were Dubai Hills Estate, Palm Jumeirah, Arabian Ranches, DAMAC Hills (Akoya by DAMAC), Mohamed bin Rashid City and Dubai Land.
Business
Large turnout of visitors at WETEX, Dubai Solar Show
The Water, Energy, Technology and Environment Exhibition (WETEX) and Dubai Solar Show (DSS) saw a large turnout of visitors in...
- A total of 1,750 companies from 55 countries worldwide participated in the exhibition.
- Latest global solutions, technologies, innovations in energy, water, sustainability, renewable and clean energy were highlighted in the event.