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
Louvre Abu Dhabi displays new collection of artworks from across the world
ABU DHABI, UAE – The Louvre Abu Dhabi has displayed new acquisitions including three artworks by Pablo Picasso alongside loans...
Arts & Culture
Arts & Culture
Abdulrazak Gurnah wins literature Nobel Prize
The Nobel Committee said the theme of the refugee’s disruption runs throughout the work of Gurnah, and he was awarded...
- Born in 1948, Gurnah moved to England in the 1960s, and started to write at the age of 21
- He has produced 10 novels and several short stories in English, French, Swedish and German
Business
DAFZA share of Dubai’s non-oil trade is 11% in H1 2021
In terms of re-exports, DAFZA grew 24 percent to total AED40.8 billion, representing 20.5 percent of Dubai's total non-oil foreign...
- In terms of re-exports, DAFZA grew 24 percent to total AED40.8 billion, representing 20.5 percent of Dubai's total non-oil foreign trade
- As for commercial partners, China came in first at 30 percent with a trade value of AED23 billion
Business
Abu Dhabi discusses investment cooperation with Egypt
The Abu Dhabi Development Fund received a delegation from the Central Bank of Egypt.
- Since it commenced its activities in Egypt in 1974, ADFD has funded more than 75 strategic projects in the country
- Spanning several sectors, they have with a total value of approximately AED3.3 billion (around $900 million)
Business
Investcorp expands US holdings
Mubadala is biggest shareholder of asset manager Investcorp.
- Bahrain-based Investcorp has acquired 89 industrial properties across four major US markets
- The real estate acquired is approximately 2.2 million square feet, for a total of $380 million
Business
Masdar to build five solar plants with a capacity of 1 GW in Iraq
Abu Dhabi-based renewable energy company Masdar on Thursday announced it will develop five solar photovoltaic (PV) projects in Iraq with...
- The solar photovoltaic projects will be developed in Dhi Qar, Ramadi, Mosul and Amarah areas.
- Iraq, the second-largest OPEC oil producer, is aiming at 20 to 25 percent of renewables in power production.
Business
Arkan-Emirates Steel merger complete
The merger creates the UAE’s largest steel and building material company.
- The transaction provides significant revenue diversification for the Combined Group
- Arkan issued to Senaat a convertible instrument, which converted into 5.1 billion ordinary Arkan shares
Economy
World Bank official for GCC says Saudi GDP to touch 3.3 percent in 2022
With an improvement in global oil demand, the World Bank has predicted Saudi Arabia’s average gross domestic product to reach...
- Abousleiman bullish on the expansion of the Kingdom’s non-oil sector
- Oil prices are currently at a seven-year high and this week OPEC + reiterated its decision, made in July, to raise production by a modest 400,000 barrels per day in November
Geostrategy
Crown Prince of Abu Dhabi receives Qatari minister as relations warm up
The diplomatic relations between the two countries have shown a fair degree of warmth in recent months, after a few...
- The meeting took place at Al Bahr Palace, where the Crown Prince received the Qatari guest
- The discussions also touched upon how to serve the interests of their nations
Expo 2020 DUBAI
Cisco shares vision for a digital future at Expo 2020 Dubai
Located at Expo 2020 Dubai’s Partner Hub, Cisco’s digitally powered environment takes inspiration from natural groves and their intelligent underground...
- Located at Expo 2020 Dubai’s Partner Hub, Cisco’s digitally powered environment takes inspiration from natural groves and their intelligent underground systems
- Aligned with Expo 2020’s theme of ‘Connecting Minds, Creating the Future’, The Cisco Grove illustrates how smart, intuitive networks can create greater connectivity
Business
Jebel Ali Free Zone buzzes with trade
Jebel Ali Free Zone has been buzzing with activity this year because of a huge jump in the number of...
- In a statement, Jafza said it continued to attract businesses despite the ongoing pandemic because of the business park’s location
- The free zone is considered Dubai’s major source of foreign dire investment (FDI) inflows, accounting for 23.9 percent of total FDIs
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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
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Swvl drops plan to buy Zeelo
Business
Dubai most transparent Arab real estate market
Infographics
Latest News
Steep Fed rate hike seen as certainty after ugly inflation data
Soaring prices have pushed annual inflation to a 40-year high, inflicting pain on American consumers and businesses, despite the welcome...
Economy
S&P updates its outlook for Saudi Arabia to positive
In a statement, issued on Saturday, it assessed the kingdom's short and long-term foreign and local currency sovereign credit ratings...
Economy
Saudi Arabia provides US$1m in assistance to UNAOC
Saudi Arabia has provided $1 million in assistance to the United Nations Alliance of Civilizations (UNAOC) for supporting its work...
Geostrategy
Most Read
Business
US team explores ways to boost economic ties with UAE
The delegation, led by Governor Spencer J. Cox, included over sixty prominent Utah government officials, business executives, and community leaders,...
- The meeting was organized by the US-UAE Business Council, the State of Utah Governor's Office of Economic Opportunity and the World Trade Center Utah
- The American delegation discussed strengthening relations with the UAE and opportunities for future cooperation with nearly 100 businessmen and women from both sides
Science
Continuous effort required to protect ozone layer, says UNEP
The UNEP noted a global temperature rise of 2.5C was possible if the ozone-depleting chemicals weren't banned, which would have...
- The United Nations Environment Program (UNEP) praised the Protocol’s success, as it ended the danger of ozone layer's depletion, a threat for humanity.
- It said the global cooperation worked, and the gases were eliminated. This healed the ozone layer which would save earth from sun's ultraviolet radiations.
Business
Jebel Ali Free Zone propels automotive markets growth
Jebel Ali Free Zone (Jafza), facilitated over 1.2 million metric tonnes (MT) from Dubai’s total volume of around 4.8 million...
- Jebel Ali Free Zone (Jafza) logistics infrastructure and global trade network have connected African, Asian and Middle Eastern traders to consumers globally.
- With companies from 70 countries and a workforce of nearly 8,000, Jafza’s infrastructure and trade volumes are an attraction for industry giants.