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
Mitsubishi to supply Empower 100,000 refrigeration ton capacity chillers
DUBAI: Emirates Central Cooling Systems Corporation (Empower) will be using Mitshubishi's air-conditioning and heating systems for its environmentally friendly district...
- A deal between the two allows Empower to increase capacity to 200,000 refrigeration tons.
- Empower will start using the new units in its plants under construction located in Zabeel, Business Bay, Madinat Jumeirah.
Business
Villas to drive Dubai realty growth in Q4
Arabian Ranches, Dubailand, Dubai South, Palm Jumeirah, MBR City, Dubai Hills Estate and DAMAC Hills 2 are likely to be...
- Up to 50% sales growth is expected in the villa segment during Q4 on a QoQ basis
- The demand for villas is expected to surge in the areas near Expo 2020
Business
Johnson Controls to build Dubai RIT’s sustainable campus
The company has partnered with Dubai Silicon Oasis Authority for energy optimization and efficiency of the campus.
- RIT Dubai aims to attract students and faculty committed to building a net-zero economy.
- More than 1,000 students can learn from the company's AI solutions.
Economy
World Green Economy Summit to tackle global food security
WGES will look into ways to advance the food and agricultural technology sectors
- WGES will look into ways to advance the food and agricultural technology sectors
- One of these is the Dubai Food Tech Valley, a programme launched by ruler of Dubai Al Maktoum
Business
Dubai business licenses issued in Aug register 54 percent growth
The growth reflects the ease of doing business in the Emirate and the government's measures to simplify procedures for businesses.
- 59 percent of the new licences issued in August 2021 were professional.
- At 38 percent, sole establishment companies topped the list, followed by civil companies and limited liability companies.
Business
UAE reelected as vice president of Belt and Road Tax Forum
The United Arab Emirates (UAE) has been elected as vice president of the Belt and Road Initiative Tax Administration Cooperation...
- The UAE’s delegation participated in the Supervisory Board meeting, where the President and the Vice President of the Forum were elected
- The decision to continue with the UAE was taken during meetings bringing together participants from around 57 countries around the world
Science
Scientist makes whitest paint; it might reduce AC bill!
Its inventor said this paint was used to cover a roof area of about 1,000 square feet, it could give...
- The paint has a reflectivity of 98.1 percent, as compared to most white paints that have a reflectivity of 80-90 percent
- This means it can reflect heat and light better, which will continue to cool whatever it is coating
Business
Dubai Police to use AI to secure Expo 2020
This would include monitoring visitors for safety from the moment of their arrival to the UAE until they reach the...
- The Dubai authorities have already taken several other steps to secure Expo 2020
- This is especially after it has already been delayed by a year due to the Covid-19 pandemic
Business
Dubai to get new arbitration court
The court will be part of a new arbitration body formed by Dubai’s ruler, and have 13 members with non-renewable...
- Dubai ruler Sheikh Mohammed has issued a decree that will merge two entities to create the Dubai International Arbitration Center
- The DIAC, in turn, will establish a new arbitration court for Dubai, consisting of 13 members, including its president and vice-president
Business
Saudi Arabia, South Africa to boost pandemic-hit trade
Saudi Arabia and South Africa are looking to boost trade after a year of slump that saw imports from the...
- South Africa imports approximately 40 percent of its oil from Saudi Arabia, according to the EIA
- Far fewer goods went the other way, with Saudi Arabia importing $347.8 million from South Africa last year, down from $423.8 million in 2019
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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
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
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Arada H1 property sales up
Business
Egypt hikes price of customs dollar to highest ever
Egypt has raised customs dollar to its highest level in history, a measure likely to inflate the price of imported...
Economy
Mubadala, TAQA Group to invest in power sector in Uzbekistan
The binding agreements will see Mubadala and TAQA each acquire a 40% stake in two gas-fired power plants.
Business
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Geostrategy
Ajman Chamber, Russian delegation discuss trade ties
The Chairman of the Ajman Chamber of Commerce and Industry (ACCI) recently received an economic delegation from the Russian Federation...
- ACCI Chairman highlighted investment opportunities in the real estate, building and construction sectors to the Russian delegation.
- The Chairman stressed Ajman Chamber's keenness to develop economic ties and attract investors to the emirate.
Business
Qatar Central Bank’s foreign currency reserves rise to $59bn in August
Official reserves consist of four main components: foreign bonds and treasury bills, cash balances with foreign banks, gold holdings, special...
- Official reserves consist of four main components: foreign bonds and treasury bills, cash balances with foreign banks, gold holdings and special drawing rights deposits.
- In addition to the official reserves, other liquid assets are in foreign currency deposits and the two together constitute what is known as "total international reserves".
Business
ADNEC adopts new corporate identity to support economic diversification
A global hub for major events, ADNEC centre has infrastructure, flexible teams and facilities to provide key services through a...
- A global hub for major events, ADNEC centre has infrastructure, flexible teams and facilities to provide key services through a number of companies
- ADNEC Group encompasses a number of specialised companies that synergistically operate in six main business sectors