Buraidah date carnival boosts Saudi tourism and economy
Buraidah, Saudi Arabia -- The Buraidah Date Carnival witnessed growing economic and tourism activity, making it a key destination for...
Business
Gross national income of GCC countries hits $2.143 trillion
Muscat, Oman -- The latest data released by the Statistical Centre for the Cooperation Council for the Arab Countries of...
Economy
Science
Sharjah okays Genetic Coding Program to classify emirate’s biodiversity
Sharjah, UAE - The Sharjah Executive Council (SEC) approved Tuesday the "Genetic Coding Programme" project to classify biodiversity in Sharjah,...
- The project aims to create a unified database of genetic coding for the types of living organisms, harness labs to determine the identity of living organisms at the DNA level.
- Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince, Deputy Ruler of Sharjah and Chairman of the SEC approved the program.
Business
UAE, Morocco discuss ways to strengthen trade relations
Rabat, Morocco - The UAE is keen to strengthen economic and trade relations with Morocco, in a way that enhances...
- The two sides discussed the importance of intensifying mutual investments in areas of technology, cyber security and artificial intelligence.
- They also discussed launching a new program to support agricultural investments and stimulating joint cooperation.
Business
Arabian Travel Market unveils Monday in Dubai
DUBAI, UAE - The 30th edition of Arabian Travel Market (ATM) will open Monday at Dubai World Trade Center (DWTC),...
- The event, on May 1-4, will see global travel, tourism, and hospitality experts discuss how their industry is ‘Working Towards Net Zero’.
- Exhibitor participation in the event has risen by 27 percent compared to last year’s event, with growth registered across all show sectors.
Geostrategy
MoHAP inks deal with Coursera to upgrade skills of employees
The agreement also provides for the creation of a cohesive relationship between the ministry's strategic priorities and training needs, as...
- Under the agreement, MoHAP’s teams will gain the requisite skills to expedite innovation and digital transformation within the Ministry.
- The agreement sets a training plan that prioritizes the development of employees' capabilities in leadership, technical and behavioral skills.
Geostrategy
Flight carrying humanitarian aid from Red Cross lands in Sudan
KHARTOUM, SUDAN - A first Red Cross plane laden with humanitarian aid on Sunday landed in Sudan, where deadly clashes between...
- The shipment took off from the Jordanian capital Amman and arrived in the eastern city of Port Sudan.
- Only 16 percent of hospitals are functioning in the capital Khartoum, according to the World Health Organization.
AI key to global opportunities, practical solutions
"Projections indicate that AI solutions are set to contribute an estimated $13 trillion to the global GDP by 2030, optimizing...
- Key research projects at MBZUAI focus on sustainable environment, infrastructure, healthcare, education, and large language models, says an official
- AI has the potential to contribute to the UAE's net-zero strategic initiative by reducing greenhouse gas emissions and advancing climate progress
Business
DET to highlight Dubai’s tourism in Arabian Travel Market
DUBAI, UAE - Dubai’s Department of Economy and Tourism (DET) is likely to display the diversity of the Emirate's destination,...
- DET is supposed to highlight how the city’s tourism industry is supporting the journey towards achieving the UAE’s Net Zero 2050.
- DET will showcase cuisine from Emirati businesses and local, homegrown brands whilst ensuring that all giveaways are sustainable.
Business
Ajman real estate transactions reach $930 million in first quarter
Ajman, UAE - Total real estate transactions in Ajman in the first quarter (Q1) of 2023 totaled AED3.4 billion ($930...
- The quarterly report on real estate transactions in the emirate registered 555 mortgage applications worth $207.23 million.
- Meanwhile, Local real estate transactions totaled AED1.4 billion ($380m), a rise of 34 percent compared to January.
Business
ADDED ink deal with Wio Bank to aid SMEs growth
ABU DHABI, UAE - The Abu Dhabi Department of Economic Development (ADDED) and Wio Bank announced on Tuesday that would...
- In less than 48 hours, Wio will help set up corporate accounts for SMEs licensed by ADDED and provide an up-to-date view of their financials.
- Wio will work with Abu Dhabi Residents Office, Abu Dhabi SME Hub, and TAMM, Abu Dhabi Government Services, to extend banking and business services.
Economy
Up to $1.7 trillion investment needed for green aviation goals
To meet the estimated energy demand from hydrogen and electric aircraft in 2050 would require the amount of energy produced...
- Carbon-free propulsion options, such as battery and hydrogen-powered aircraft, are some of the options the aviation industry is pursuing.
- Airports, airlines and others will need to make heavy infrastructure investment to deliver the green hydrogen and electricity the aircraft will need.
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
Buraidah date carnival boosts Saudi tourism and economy
Buraidah, Saudi Arabia -- The Buraidah Date Carnival witnessed growing economic and tourism activity, making it a key destination for...
Business
Company News
Latest News
UAE announces monthly allowance of 50% of basic salary for imams, muezzins
Abu Dhabi, UAE - United Arab Emirates has announced a provision of a monthly financial allowance equivalent to 50 percent...
Non-oil sectors contribute 50% to Saudi Arabia’s real GDP in 2023
RIYADH, SAUDI ARABIA – Non-oil activities in the Kingdom have achieved a historic milestone, reaching a 50 percent share of...
Economy
Most Read
Business
Parkin record-breaking IPO raises $428m
The offer was oversubscribed 165 times for all tranches combined.
- Dubai Investment Fund (selling shareholder) had announced 749 million shares, or 24.99% of Parkin's total issued share capital, for the IPO.
- Parkin is expected to commence trading on the DFM on 21st March 2024. At listing, the company will have a market capitalization of AED 6.30 billion ($1.72 billion).
Business
Mubadala to anchor US-based Blue Opal’s second venture capital fund
MIC will be an anchor investor in their second venture capital fund.
- Blue Opal Capital recently launched a Fund-of-Fund platform that focuses on identifying and investing in exceptional entrepreneurial venture capitalists.
- Blue Opal Capital invests in emerging venture capital funds and co-investment opportunities that maximize investment returns for their partners.
Business
Qatar real estate trading volume amounts to US$382m in February 2024
DOHA, QATAR – The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at...
- The data of the real estate analytical bulletin revealed that 350 real estate transactions were recorded during the month.
- The real estate transactions value index recorded a decline of 27 percent. The traded area index recorded a decrease of 18 percent.