RAKEZ witnesses 35 percent growth in holding company registrations
RAS AL KHAIMAH, UAE - Ras Al Khaimah Economic Zone (RAKEZ) reported a remarkable surge in the registration of holding...
Business
Abu Dhabi Chamber inks MoU with Ethiopian Investment Commission
ABU DHABI, UAE - The Abu Dhabi Chamber of Commerce and Industry has signed a Memorandum of Understanding with the...
Business
Economy
Syria to withdraw subsidy to its richest citizens
Syria's 800,000 richest citizens -- typically high-earners working in the private sector -- will now be exempt from government subsidies...
- In a press conference, Syria's Internal Trade Minister, Amro Salem, said that there are segments of society that do not need subsidies
- Syria's 800,000 richest citizens -- typically high-earners working in the private sector -- will now be exempt from government subsidies on bread and fuel
Economy
UAE unveils hydrogen leadership roadmap
Green hydrogen is envisaged to play a significant role in UAE’s domestic strategy to meet the UAE 2050 Net-Zero goals.
- The roadmap is said to be a comprehensive national blueprint to support domestic, low-carbon industries in the UAE
- It is also expected to contribute to the UAE’s net-zero ambition, and establish it as a competitive exporter of hydrogen
Arts & Culture
Dubai Art Expo attracts 500 artists from 170 countries
The opening at the Meydan Hotel was attended by Albanian Minister of Culture Elva Margariti and a crowd of artists.
- The opening at the Meydan Hotel was attended by Albanian Minister of Culture Elva Margariti and a crowd of artists
- The festivities will include an art exhibition, talks, workshops and a series of performances from five continents
Market Report
Abu Dhabi Securities Exchange launches derivatives market
The new market will give investors and traders the opportunity to benefit from increased leverage, two-way market exposure, and hedging...
- The new market will give investors and traders the opportunity to benefit from increased leverage, two-way market exposure, and hedging capabilities
- Index futures will be introduced in the first quarter of 2022, ahead of the expansion into a wider range of derivative products.
Business
Saudi bank inks $100m deal
The agreements are aimed at bolstering Saudi exports.
- The Saudi Export-Import Bank has signed reinsurance agreements worth over $101 million (about SAR 380 million)
- It signed the deals with the Arab Investment and Export Credit Guarantee Corporation or Dhaman
Economy
Abu Dhabi realty transactions hit AED 16 billion in Q3
Among the 3,932 real estate transactions involving land and buildings generated AED 4.6 billion, while 2,224 mortgage transactions generated AED...
- Among the 3,932 real estate transactions involving land and buildings generated AED 4.6 billion, while 2,224 mortgage transactions generated AED 11.6 billion
- Yas Island topped the Q3 2021 report with the highest value in terms of total sales at AED 1.1 billion, followed by Saadiyat Island with total sales of AED 705 million
Business
ECI and Indonesia Re sign agreement to boost exports and investments
Etihad Credit Insurance and Indonesia Re, the state-owned reinsurance agency of Indonesia, have signed an MoU to boost bilateral exports...
- The two organizations will support strategic economic sectors such as steel and aluminum, ceramics, renewable energy.
- They have also agreed to explore recoveries of claims to be collected in Indonesia or the UAE.
Geostrategy
Abu Dhabi Crown Prince, King of Netherlands discuss regional, global issues
Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, and King Willem-Alexander of the Netherlands have discussed friendship...
- The parties tackled several regional and international issues of mutual interest and exchanged views in this regard.
- Two days ago, 50 Dutch companies arrived in the UAE on a trade mission.
Business
Helal Al Marri appointed chairman of Dubai Financial Market
Helal Saeed Al Marri has been named as the new chairman of the Dubai Financial Market by the Committee for...
- Appointment of new DFM board of directors announced by Deputy Ruler of Dubai Sheikh Maktoum bin Mohammed.
- Al Maktoum thanked outgoing Essa Kazim for his efforts to manage the DFM since its inception 20 years ago.
Business
Dubai Investments net profit $123m
The firm will focus on the real estate market, its CEO said.
- Total Income also increased to AED 2.6 billion from AED 1.9 billion for the first nine months of the year.
- The Group recently announced its new venture in the emirate of Ras Al Khaimah.
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
RAKEZ witnesses 35 percent growth in holding company registrations
RAS AL KHAIMAH, UAE - Ras Al Khaimah Economic Zone (RAKEZ) reported a remarkable surge in the registration of holding...
Business
Company News
Julphar Q2 sales $114m
Business
Latest News
UAE Foreign Minister makes phone call to Israeli PM
Sheikh Abdullah bin Zayed thanked Prime Minister Lapid for the warm reception during his recent visit at the head of...
Geostrategy
Saudi Arabia urges cooperation in tourism for sustainable future
Riyadh, Saudi Arabia - Saudi Minister of Tourism Ahmed bin Aqeel Al-Khatib said more cooperation is a must for sustainable...
Business
MENA’s first NFT marketplace NIFTY Souq secures $1.5m investment
The UAE-based NIFTY Souq, the MENA region’s first NFT marketplace which launched in 2021, has announced they’ve secured $1.5 million...
Business
Most Read
Business
Tabby, Paymob announce partnership
They will create a Buy Now Pay Later solution for retailers.
- Tabby’s BNPL payment solution will be available to over 120,000 Paymob merchants.
- Tabby is a payments and shopping app, and Paymob, an omni-channel payments facilitator in MENAP.
Business
Metaverse could touch US$500bn by 2030: Arthur D. Little
The metaverse, Beyond Fantasy, the latest in a series of new reports from the company running under the ‘Blue Shift’...
- The report provides a cautious, low-end forecast, which estimates that the current Metaverse market is estimated to be worth $50 billion
- It looks at the key enabling technologies of the Metaverse, including artificial intelligence (AI), Internet of Things (IoT) and blockchain
Business
Villas and apartments worth $270 million sold in Dubai
Dubai, UAE--Dubai real estate market recorded deals worth AED1.7 billion ($462 million) on Monday, according to Dubai Land Department. These...
- The emirate's real estate market recorded deals worth AED1.7 billion ($462 million) on Monday, according to Dubai Land Department
- Mortgages included 51 villas and apartments worth AED141.5 million and 29 land plots valued at AED302.56 million.