Commercial transport sector added $4.38bn to Dubai economy, says RTA
DUBAI, UAE - Commercial transport sector contributed AED16.1 billion ($4.38bn) to Dubai's economy in 2022, said Mattar Al Tayer, Director-General,...
Economy
Infographics
Qatar, Saudi Arabia lead GCC in education spend
Qatar and Saudi Arabia lead the GCC countries when it comes to spending on education.
- Qatar has in absolute terms spent more per capita for education than any GCC nation since 2016
- However, when it comes to absolute totals and the share of the GDP spent on education, Saudi Arabia leads the pack
Arts & Culture
‘World’s largest’ Byzantine-era winery in Israel
The facility in Yavne, south of Tel Aviv, produced two million liters of wine each year.
- The site is said to be comprised of five wine presses sprawling over a square kilometer (0.4 sq mile)
- The produce was known as "Gaza and Ashkelon wine" due to the nearby ports from which it was exported
Business
Air traffic in UAE leaps up 24.5% in September as thousands flock to Expo 2020
The General Civil Aviation Authority (GCAA) has announced that the average aviation activity in the country rose from 1,238 flights...
- Saif Mohammed Al Suwaidi, Director General, said that the aviation activity in the UAE witnessed a significant increase prior to the Expo 2020 Dubai
- The GCAA's report also showed the country’s national carriers travel to 108 countries, benefitting from the logistical services provided by ten registered airports
Expo 2020 DUBAI
Oman’s pavilion draws visitors eager to learn about investment in the country
More than a hundred thousand people paid visit to Oman’s pavilion in the first nine days of Expo 2020, according...
- Over 12,400 people visited the pavilion daily, a figure considered "an excellent indicator" during the first week of the mega event
- People were briefed about the country’s investment opportunities and were shown displays of modern technologies and sound management
Business
Post merger, Emaar Properties and Emaar Malls form a single company
Shareholders of Emaar Properties have approved the merger of the company with Emaar Malls, according a bourse filing.
- Shareholders also approved during the General Assembly on Sunday the proposal to increase Emaar Properties’ share capital to $2.2 billion
- Emaar Malls’ net profit reached 622 million dirhams during the first six months of 2021, up by 80 percent from 345 million dirhams during the same period in 2020
Economy
Natural experiments bring Nobel Prize to three US economists
Card’s studies of core questions for society and Angrist and W Imbens’ methodological contributions have shown that natural experiments are...
- One half has been awarded to David Card “for his empirical contributions to labor economics,” which is rooted in natural experiments
- The other half is for Joshua D Angrist and Guido W Imbens, “for their methodological contributions to the analysis of causal relationships”
Expo 2020 DUBAI
In just 10 days of Expo 2020 organizers record more than 400,000 visits
It has been ten days since the Expo 2020 was kicked off in a grand celebration, and so far 411,768...
- The visitors belonged to 175 nationalities and not far off the 192 countries participating in the event
- Visitors to the global event could choose from multiple ticket options including Multi-Day and Season Passes
Geostrategy
Iraq says it has captured Daesh finance chief
The Iraqi National Intelligence Service captured Sami Jasim outside the country after a complex operation.
- Sami Jasim allegedly served as a deputy to former Daesh leader Abu Bakr al-Baghdadi
- He supervised Daesh’s revenue-generating operations from illicit sales of oil, gas, antiquities, and minerals for some time since 2014 in Mosul
Expo 2020 DUBAI
Now an ad from the lowest place on the Earth
The new ad posted on the Twitter handle of the Israeli Pavilion at Expo 2020 Dubai has been videographed in...
- New ad of Israeli Pavilion at Expo 2020 has been shot in the middle of The Dead Sea
- It is an imitation of the Emirates’ ad from the top of 828-metre-high Burj Khalifa
Business
$1.3bn UAE-Mexico non-oil trade in 2020 shows strong trade ties: Minister
The non-oil trade between the UAE and Mexico totaling $1.3 billion in 2020 demonstrates a strong partnership between the two...
- Both countries agree on new plans to reinforce economic cooperation.
- UAE Minister of State for Foreign Al Zeyoudi holds a meeting with Martha Delgado Peralta, Deputy Secretary at Mexico's Ministry of Foreign Affairs.
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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
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Bahrain central bank’s $185m treasury bills oversubscribed 216%
Manama, Bahrain—Bahrain’s latest government treasury bills, valued at Bahrain Dinar 70 million ($185 million), have been oversubscribed by 216 percent....
Economy
UAE financial restructuring body holds second meeting
The UAE finance ministry's Financial Restructuring Committee (FRC) recently held the second meeting of its Consultative Council.
Economy
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Business
APICO to list on Nomu
The Arabian Plastic will offer 1m shares at $7.19 per share.
- According to a bourse filing, the offering coverage was 15.43x of the total shares offered during the subscription period
- Yaqeen Capital, the financial adviser and lead manager, will finalize the required procedures with the Saudi Stock Exchange and will determine the date for listing of the shares
Business
Dubai’s RTA earns US$10.12m from auction of number plates
Dubai's Roads and Transport Authority (RTA) fetched $10.12 million from the auction of distinctive vehicle number plates at Grand Hyatt...
- The sale topper was Plate (AA 13), which was exchanged for $1.20 million, followed by Plate (U 70) which was sold for $816,882 Plate (Z 1000) brought back $601,769
- By offering distinctive licensing plates at open or online auctions, RTA seeks to provide a neutral and transparent platform that avails fair opportunities to all bidders
Business
Qatar’s United Development Company and CBQ sign home loan deal
Doha, Qatar - The United Development Company (UDC), a Qatari public shareholding company, signed a deal with The Commercial Bank...
- The UDC property buyers would be eligible to apply with Commercial Bank for a home loan worth 70% of the property value.
- The consumers are likely to be benefited from fast loan processing and flexible added-value options and payment plans.