Covid and Ukraine have badly hit UN sustainable goals progress
Geneva, Switzerland - United Nations Conference on Trade and Development (UNCTAD) said the COVID-19 pandemic, Ukraine crisis and the climate...
Economy
Dubai’s weeklong real estate transactions exceed US$4.2bn
DUBAI, UAE - A total of 4,048 real estate transactions worth over US$4.2 billion (AED 15.6 billion) were conducted during...
Business
Business
Shuaa Capital CEO now owns 30 percent of the firm
The CEO of the UAE-based Shuaa Capital has bought 57, 966, 523 shares in the financial firm, taking his personal...
- Shares were sold by Shine Investments in Commercial Projects
- In 2019, Shuaa Capital, which has $14 billion in assets under management, merged with Abu Dhabi Financial Group (ADFG) in 2019
Business
UAE investors behind Bahrain’s $492m tourism investment
Investments from UAE-based property developers helped Bahrain’s tourism sector remain buoyant during the pandemic.
- Capital investment into MEA last year decreased 82 percent from 2019, dropping to $1.6 billion.
- Bahrain ranked first in MENA for the number of tourism jobs created in 2020 and second for the number of tourism FDI projects.
Business
Air Arabia resumes flights to Saudi Arabia
Flights between Sharjah and Riyadh, Jeddah and Dammam to start from Sep 14
- Customers can now book their direct flights between Sharjah and Riyadh, Jeddah and Dammam by visiting Air Arabia's website
- All passengers traveling to the kingdom are required to download "Tawakkalna" mobile app
Economy
Iran needs more than $1 billion to improve roads
Iran plans to improve the condition of the major freeways and highways, and expand the country’s freeways network to 10,000...
- Iran’s Deputy Transport and Urban Development Minister Kheirollah Khademi said the country needs $1.07 billion to improve 10 major freeways in the next two years
- The country also announced the construction of new freeway corridors as another part of infrastructure development programs for the coming years
‘Third mass exodus’ feared in Lebanon as crisis worsens
Based on a survey done last year, 77 percent of Lebanese youth said they think about emigrating and seek it,...
- Based on a survey done last year, 77 percent of Lebanese youth said they think about emigrating and seek it, and this percentage is the highest among all Arab countries
- Many professionals, including doctors, academics, entrepreneurs, and designers, have left or are planning to go
Business
Knight Frank strengthens UAE team
The company hires two members for Industrial and Logistics.
- Company credits Maxim Talmatchi, who was hired as manager and co-head of Industrial and Logistics, with 300 successful transactions.
- Dumitru Mamaliga, hired as industrial surveyor, has focused in the industrial and logistics sector in the UAE since 2017.
Kuwait Airways to resume New York flight
The destination is in high demand from business travelers, tourists.
- Two kinds of aircraft will be operated for the route.
- The airways has resumed operations from various destinations.
Business
RTA announces special buses for Expo 2020 Dubai
The RTA will operate 126 buses within Dubai, and 77 buses between Dubai and the other emirates, all so that...
- Dubai’s RTA will deploy 126 public buses for Expo 2020 Dubai visitors
- Called Expo Rider, they will be free for visitors, and available from nine locations across Dubai
Economy
Saudi Arabia eyes investment opportunities from Germany
The Saudi Vision 2030 has unlocked investment opportunities worth SAR12 trillion (€2.7 trillion or $3.2 trillion).
- Germany is a key trade and investment partner for Saudi Arabia
- It was the fourth-largest source of imports to the kingdom in 2020
Dubai Chamber members’ exports, re-exports reach $40 bn
Surge in trade activity in Dubai has lifted the value of exports, re-exports.
- 58,154 certificates of origin issued by Dubai Chamber in August 2021.
- Outside of the GCC, Egypt was the largest export market as member exports to the country.
Covid and Ukraine have badly hit UN sustainable goals progress
Geneva, Switzerland - United Nations Conference on Trade and Development (UNCTAD) said the COVID-19 pandemic, Ukraine crisis and the climate...
Economy
Company News
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Zain Group Q2 net profit $165m
Business
Delta orders Airbus jets
Business
Real estate transactions worth US$544m at Sharjah in August
Real estate transactions in the Emirate of Sharjah totaled US$544 million (AED 2 billion) in August 2022, according to the...
Business
DEWA programs prepare Emiratis to join the organization
Dubai Electricity and Water Authority is committed to promoting Emiratization in its various divisions by adopting an integrated strategy to...
Business
UAE ranks 1st regionally in UNDP Human Development Report
The UAE has ranked 26th globally and first in the Arab world in the 2021/2022 Human Development Report, which is...
Research
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Economy
UAE stocks post gain of US$2.72bn in market cap
The UAE financial markets on Wednesday posted gains of over US$2.72 billion (AED10.billion) in market cap driven by upbeat sentiments...
- The UAE financial markets on Wednesday posted gains of over US$2.72 billion (AED10.billion) in market cap driven by upbeat sentiments.
- Abu Dhabi index (FTFADGI) rose 0.566 percent to 9,717.38 points while Dubai General Index (DFMGI) slid 0.406 percent to 3,382.31 points.
Geostrategy
Future Investment Initiative Institute to hold events in Riyadh, New York
Riyadh, Saudi Arabia-- The Future Investment Initiative Institute said Thursday two of its major events will be held in September...
- The PRIORITY summit will be held on the sidelines of the 77th session of the UN General Assembly in New York on Sept. 22.
- Serving as platforms aimed at finding solutions to global issues, the two events will bring together experts and policymakers.
Four Saudi universities among top 100 international universities
King Abdulaziz University achieved 4th place globally with 187 patents in one year.
- King Abdulaziz University achieved 4th place globally with 187 patents in one year
- King Fahd University of Petroleum and Minerals achieved 25th place with 91 patents