Art Dubai 2023 generates US$39m in economic impact, says new study
DUBAI, UAE - Art Dubai, the leading international art fair for the Middle East and Global South, on Sunday announced...
Economy
UAE bank investments at all-time-high of $147 bn in February
Abu Dhabi, UAE - Bank investments in the UAE hit $147 billion by the end of February, the highest level...
Business
Bread to cost more in Egypt as govt decides to slash subsidy
Egypt has decided to withdraw subsidy from bread that will make it dearer for a people who have relied on...
ADNOC sells its first cargo of blue ammonia to Itochu
The sale was made in partnership with Fertiglobe, which will produce blue ammonia at its Abu Dhabi plant for delivery...
Millennial, Gen Z Muslims to adopt Islamic banking if it gets more accessible
The report titled ‘Faith and Finance: The changing face of Islamic banking’, surveyed over 2,000 respondents globally
Dubai-Korea relations strengthen with $882m bilateral trade in Q1
Imports had the lion’s share at AED2.551 billion, followed by exports at AED549.782 million, and re-exports at AED137.473 million, Ahmed...
UAE’s non-oil economy picks up in July, strongest in two years
Latest IHS Markit UAE PMI says firms hoped easing of COVID-19 restrictions and the Expo 2020 later this year would...
Covid returns to China’s Wuhan: Global Delta variant woes mount
A resurgent virus has returned with a vengeance, buoyed by stalling vaccination rates and deadly new mutations.
Egypt’s exports shot up 54 percent to $282m in June 2021
Egypt’s exports of engineering products spiked by 54 percent to $282 million in June 2021, compared to $180m in the...
Covid-19 has disrupted breastfeeding support services: WHO
Several countries report baby foods producers invoking unfounded fears that breastfeeding can transmit virus.
At $690m, Saudi gaming market is next big thing in region
Saudi Arabia has seen a sharp rise in the gaming market among its population, with total gamers running into 21...
Morocco extends night curfew to curb surge in Covid cases
With the delta variant of the coronavirus striking most parts of the Middle East and North Africa region, Morocco, battling...
Art Dubai 2023 generates US$39m in economic impact, says new study
DUBAI, UAE - Art Dubai, the leading international art fair for the Middle East and Global South, on Sunday announced...
Economy
Company News
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Qatar to invest $3bn in beleaguered Pakistan economy
The United Arab Emirates this month said it would invest $1 billion in Pakistan and, according to reports, Saudi Arabia...
Geostrategy
Abu Dhabi trainee doctors to benefit from Canada healthcare programs
Abu Dhabi's trainee doctor specialists, as part of Emirates academic healthcare training institutions, will now have access to Canada’s accredited...
Geostrategy
Saudi Arabia’s merchandise exports in June up 75 percent: GASTAT
Saudi Arabia’s merchandise exports during June 2022 increased by more than 75 percent to 148 billion riyals ($39.37 billion) compared...
Economy
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Business
Majid Al Futtaim H1 EBIDTA $517m
The EBITDA rose 18 percent from $435 million a year ago.
- Majid Al Futtaim said it recorded a 73 percent rise in digital grocery retailing and opened Carrefour UAE’s first BIO store.
- The conglomerate said in a statement that it recorded a 15 percent increase in revenue to AED18 billion.
Business
Real estate deals worth $381 million recorded in Dubai Tuesday
Dubai real estate market recorded deals worth AED1.4 billion ($381 million) on Tuesday, including 387 sales transactions worth AED1.15 billion....
- The transactions also included 68 mortgage deals of AED149.38 million, and 85 gift deals amounting to AED140.85 million, data released by Dubai's Land Department (DLD) showed.
- The sales included 336 villas and apartments worth AED913.23 million, and 51 land plots worth AED241.01 million.
Economy
Saudi Arabia’s new tourism law to build globally competitive tourism sector
With the new legal framework, the Ministry of Tourism will have greater control of the quality of tourism services offered...
- With the new legal framework, the Ministry of Tourism will have greater control of the quality of tourism services offered within the kingdom
- The law also extends the tourism ministry’s remit for swift collaboration with government entities to mitigate risks and manage crises.