AD Ports signs 30-year pact to operate Congo’s key port
The first phase works, costing $200m, likely to completed in 30 months.
Business
38 million passengers used services of SRTA in 2022, say reports
SHARJAH, UAE - The Sharjah Roads and Transport Authority (SRTA) said it transported about 38 million passengers, throughout the year...
Business
Business
Dubai records $327m realty deals in week ending Wednesday
The deals consisted of 266 real estate sales transactions worth AED849.88 million.
- August 2021 was the second-highest month since December 2013 in terms of the number of sales transactions in one month.
- The real estate market in Dubai is seeing sustained growth in the run-up to Expo 2020 Dubai.
Economy
UAE, India talk on Economic Partnership Agreement
It is the second deal that Dr. Al Zeyoudi is pursuing this month, following negotiations with Indonesia, as the UAE...
- Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, is in New Delhi to discuss trade and investment relations
- It is the second CEPA deal that Dr. Al Zeyoudi is pursuing this month, following negotiations with Indonesia, as the UAE accelerates its global trade agenda
Business
Union Properties exits Dubai shopping deal
The deal with an unnamed developer was valued at $114m.
- The company chairman calls the deal a part of the firm's plans for diversifying the real-estate portfolio.
- Union Properties posted a profit of AED 32 million for H1.
Business
Dubai real-estate transactions for August cross $4bn
These are the latest numbers from the 18th edition of Mo’asher, which is Dubai’s official sales price index.
- The number of transactions in August 2021 was 5,780
- They are said to be worth AED14.97 billion (around $4.08 billion)
Business
Abu Dhabi to use drones for delivery of vaccines and drugs
DUBAI: Abu Dhabi's department of health (DoH) will be using drones for the transport of high-value medical goods such as...
- US-based Matternet partners with logistics company Skygo and Department of Health for 'world's first city-wide medical drone network.
- SkyGo and Matternet have completed the first phase of in-country flight testing.
Business
23 solar panel plants to come up across Saudi Arabia
DUBAI: As many as 23 factories that will manufacture solar panels and systems will be set up across Saudi Arabia,...
- The factories will be established in 12 industrial cities, according to Modon.
- Products to be manufactured include Solar cells, slim panels for generating solar energy, solar energy panels.
Economy
Dubai approves $17.7 billion over 20 years for citizens’ housing
The outlay is for the next 20 years, Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum said.
- The government intends to increase the number of beneficiaries fourfold.
- In 2020, Abu Dhabi government announced $2 billion worth of housing loans, homes and land to more than 6,100 citizens.
Science
UAE relaxes mask mandate, but with riders
UAE residents may not wear a face mask in certain places while keeping a safe physical distance of two meters.
- Local authorities are expected to put signs showing the places where people will be allowed not to wear a face mask
- This will happen as long as people adhere to the physical distancing of two meters
Business
Adnoc Drilling IPO increased
Adnoc Drilling will list on the ADX on or around October 3.
- The increase is expected to be from 1.2 billion ordinary shares to 1.76 billion ordinary shares
- However, the offer price of AED 2.30 per share remains unchanged
Business
Saudi Arabia workshop woos German investors
The workshop discussed the most prominent ways to expand the current investments in line with Saudi Vision 2030.
- Saudi Arabia is opening up its economy while diversifying it to lessen its dependence on oil
- It is believed to have investment opportunities worth SAR12 trillion (€2.7 trillion or $3.2 trillion)
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AD Ports signs 30-year pact to operate Congo’s key port
The first phase works, costing $200m, likely to completed in 30 months.
Business
Company News
Iraq receives 125 antiquities borrowed from Germany
Arts & Culture
Latest News
Ataa acquires Saudi firm Naba’a
Business
Gulf International Bank continues partnership with Beehive
The strategic partnership, which initially began in 2020, brought to market a new digital GIB financing platform to ensure swift...
Business
Jordan king discusses ties with US congressional delegation
The meeting, attended by Crown Prince Al Hussein bin Abdullah II, covered bilateral ties and the strategic partnership between Jordan...
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Economy
Dubai’s RTA releases Sustainability Report 2021
Dubai's Roads and Transport Authority (RTA) has published its seventh Sustainability Report 2021. The report showcases RTA's practices in matters...
- The report showcases RTA's practices in matters related to the environment, society and governance.
- RTA had developed a roadmap to achieve zero-emission from public transport means by 2050.
Business
EU commercial flights surge 25 percent in August 2022
Brussels, Belgium - The number of commercial flights in August 2022 in the EU increased 25 percent compared to August...
- The numbers are still below the pre-pandemic levels, but the gap is eventually decreasing.
- Also, some EU airports recorded increase in the total commercial flights compared with 2019.
Economy
Dubai FDI wins UN award for best practices in tracking investments
The Dubai Investment Development Agency (Dubai FDI) at the Department of Economy and Tourism (DET) gained international recognition for its...
- Dubai FDI Monitor tracks and records five different types of foreign direct investment in real-time.
- The Monitor tracks and records FDI and new forms of investments using advanced methodology and smart features.