UAE energy ministry announces Global EV Market transformational project
DUBAI, UAE - UAE Minister of Energy and Infrastructure Suhail bin Mohammed Al Mazrouei on Tuesday announced the launch of...
Business
Ajman hotels posts 3% increase in revenues in Q1 2023
AJMAN, UAE - Ajman hotels and serviced apartments recorded a three percent growth in hotel revenues in the first quarter...
Business
Business
Saudi IT sector eyes boom, likely to touch $27bn by 2025
The Information technology (IT) sector in Saudi Arabia will witness a big boom, with the market expected to touch $27...
- IoT market size is expected to grow at a compound annual rate of 26%
- Cloud services are expected to make up to 30 percent of the total ICT spend in the Kingdom by 2030
Business
Iran to set up real-estate stock exchange in H2
When established, it is expected to be Iran’s fifth major stock exchange.
- It will be under the purview of the Iran Mercantile Exchange or IME
- Such an exchange is expected to provide housing units for the underprivileged
Business
Saudi Arabia lifts ban on entry of foreigners
Saudi Arabia has lifted the ban on the entry of foreigners from 20 countries, six months after the kingdom declared...
- The Ministry of Foreign Affairs’ agency for consular affairs said the decision only applied to expats who were fully vaccinated in Saudi Arabia before they departed for their home
- Expats wanting to return to the Kingdom should undergo all health measures to ensure they were free from infection, the agency added
Business
IFC pours $10.4bn in private sector in MENA
During the current financial year, the International Finance Corporation (IFC), a member of the World Bank group, provided financing worth...
- IFC's financing included $2.9 billion in short-term finance and $4.2 billion in mobilization
- The funds helped small businesses access finance, connect people and businesses to reliable digital infrastructure, trade and services
Business
Chabahar port becomes permanent member of World FZO
The World FZO is a non-governmental, non-profit entity based in Dubai in the United Arab Emirates.
- Chabahar is Iran's only oceanic port on the Gulf of Oman
- It can from now on participate in the decisions and events of the World FZO
Economy
All projects under Saudi Vision 2030 ‘colossal’
The number and value of mega projects set to transform the country’s real estate landscape and showcase the kingdom’s vision...
- Nearly $300bn of the total spends dedicated to new infrastructure, according to consultancy firm Knight Frank.
- Inquiries for development consultancy and development management services have increased over the last six to 12 months.
Geostrategy
Confusion over Ukraine jet ‘hijacking’ in Kabul
Ukraine’s deputy foreign minister Yevgeny Yenin told the independent Hromadske radio station that a Ukrainian plane had been "hijacked" in...
- Ukraine spokesman Oleg Nikolenko said no Ukrainian planes hijacked in Kabul or elsewhere.
- Three planes Kiev chartered to evacuate its citizens from Afghanistan safely returned to the country.
Business
ADNOC L&S acquires line boats
Boats used for marine services at Abu Dhabi petroleum ports.
- All six vessels contracted from Sharjah-based Albwardy Damen.
- ADNOC L&S says it is in the midst of strategic expansion program.
Algeria severs diplomatic ties with Morocco
Algeria blamed the Moroccan support for one of the groups which seeks autonomy in Algeria's Kabylie region
- Algeria blamed the Moroccan support for one of the groups which seeks autonomy in Algeria's Kabylie region
- Historically, the relations between North African neighbours have been strained
UAE, Israel ink deal for digital health solutions
DHI 2048 organisation launched in UAE is the part of latest cooperation to strengthen the ties between the UAE and...
- DHI 2048 organisation launched in UAE is the part of latest cooperation to strengthen the ties between the UAE and Israel
- Over Two billion dollars to be deployed in the next four years on healthcare equipment, training and AI based technologies
Most Read
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
UAE energy ministry announces Global EV Market transformational project
DUBAI, UAE - UAE Minister of Energy and Infrastructure Suhail bin Mohammed Al Mazrouei on Tuesday announced the launch of...
Business
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Qatar’s Museum of Islamic Art to reopen on October 5
One of the world's premier institutions of Islamic art, the MIA will re-open in time for the influx of visitors...
Arts & Culture
Palestinian economy facing formidable challenges: IMF team
The fiscal situation, high political, security and social tensions, rising inflation, movement and access restrictions and an unfinished structural agenda...
Economy
CBUAE imposes sanctions on ‘exchange house’ for violations
The Central Bank of the UAE (CBUAE) has imposed sanctions on the owner and general manager of an exchange house...
Economy
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Business
Evorra secures extra $1m for data marketing at scale
Evorra CEO Aaron Ritoper said that the company has developed with regular input from a community of brands which believe...
- Evorra CEO Aaron Ritoper said that the company has developed with regular input from a community of brands which believe in the power of a decentralised data service
- Boston-based York IE is set to become lead investor to help the SaaS marketplace company turn marketers into data marketers
Business
Ajlan signs deals worth $7bn
Its collaboration with Malaysia will be in key sectors.
- The deals aim to develop effective programs to promote collaboration between the two countries to invest in key sectors: industrial manufacturing, healthcare, technology
- Ajlan will partner with Malaysian companies such as SilTerra, Cybersecurity Malaysia, Aerodyne, NADI Corp., Malaysian Genomics Resource Centre Berhad, MYEVENTS International
Economy
Realty, banking blue chips continue to power UAE markets
Among other stocks, Emirates NBD, DEWA, and TECOM increased 0.74 percent, 0.77 percent and 1.25 percent respectively.
- Among other stocks, Emirates NBD, DEWA, and TECOM increased 0.74 percent, 0.77 percent and 1.25 percent respectively
- Driven by Emaar, Dubai General Index (DFMGI) advanced 0.79 percent to 3,463.5927.16 pts, with the property blue chip closing higher at AED4.80