DIFC records 25 percent rise in registered firms in H1 2025
Dubai, UAE -- Dubai International Financial Centre (DIFC), the leading global financial center in the Middle East, Africa and South...
Business
Global gas flaring surges again, costs $63bn in lost energy: WB
Washington, UAE -- Global gas flaring surged for a second year in a row, wasting about $63 billion in lost...
Geostrategy
Business
SABIC signs pact with Aramco, PKN ORLEN
They will study feasibility of Polish petrochemical sector investment.
- The agreement laid the first cornerstones towards a potential partnership with Aramco and PKN ORLEN in petrochemical production, said SABIC acting CEO.
- In August, Aramco and SABIC Agro-Nutrients Company obtained the world's first independent certifications recognizing the production of blue hydrogen and blue ammonia.
Geostrategy
Energy crisis driving climate-friendly power savings, says IEA
PARIS, FRANCE - Russia's invasion of Ukraine has driven countries across the world to boost energy efficiency, creating "huge potential"...
- Governments have scaled up fossil fuel subsidies to cushion the impact of rising energy costs on households in the wake of the Ukraine conflict.
- According to the IEA research, governments, industry and households invested a record $560 billion this year in energy efficiency measures.
Geostrategy
Supporting India’s G20 presidency is a priority for UAE, says Minister
The UAE's Minister of Foreign Affairs and International Cooperation Sheikh Abdullah bin Zayed Al Nahyan has said that the Gulf...
- The UAE will work towards a world where human progress is an inalienable right for all.
- The UAE views the G20 as a forum that plays a critical role in multilateral efforts.
Economy
UAE 51st National Day: Central Bank launches new 1000 dirham note
Abu Dhabi, UAE---The Central Bank of the UAE launched an AED-1000 denomination note as part of the country's 51st anniversary...
- Made of polymer and using innovative designs and advanced security features, the note is the fourth in the Third Issuance of the National Currency Project.
- The new banknote will be available in Central Bank branches and ATMs in the first half of 2023.
Business
Jazeera Airways expands to Tajikistan
A direct flight from Kuwait to Dushanbe will be operated.
- The route launches on December 29 and will be operated on Thursdays and Saturdays. Flights land at the Dushanbe International Airport.
- The new route that connects pilgrims to Saudi Arabia besides offering a new travel destination for nature and adventurous culture seekers.
Geostrategy
EU gives US$131 million to WHO Universal Health Coverage Partnership
GENEVA, SWITZERLAND - The World Health Organization (WHO) and the European Commission agreed on reinforcing a decade-long collaboration to accelerate...
- EU contribution will focus on strengthening health systems to make them more resilient and responsive to natural, climate or human-made disasters.
- The partnership with WHO is a key deliverable of the new EU Global Health Strategy adopted by the European Commission.
Business
Dubai records over $1.3 billion in weeklong real estate transactions
Dubai, UAE---A total of 1,600 real estate transactions worth over AED4.8 billion ($1.3 billion) were conducted during the week ending...
- The DLD said that the emirate saw the sale of 176 plots for AED998.19 million, as well as 1,052 apartments and villas for AED 2.32 billion.
- Jabal Ali First recorded the most transactions for this week with 81 sales worth AED285.43 million.
Economy
Jordan cabinet approves 2023 draft budget law
Council of Ministers okayed a draft law amending the real estate sale tax law for 2022, aimed at stimulating investment...
- Council of Ministers okayed a draft law amending the real estate sale tax law for 2022, aimed at stimulating investment in the sector
- Cabinet also approved a draft law amending Jordanian Nationality Law for 2022 to align texts related to nationality restoration
Geostrategy
US sanctions Hezbollah’s accountants, weapons facilitator
The Treasury Department's Office of Foreign Assets Control (OFAC) sanctioned two individuals and two companies for providing financial services to...
- The US Foreign Assets Control (OFAC) sanctioned two individuals and two companies for providing financial services to Hezbollah
- It took action against another individual involved in facilitating weapons procurement for the group
Economy
Rising inflation, falling wages threaten increased poverty: ILO
Global monthly wages fell in real terms to -0.9 per cent in the first half of the year, the study...
- Global monthly wages fell in real terms to -0.9 per cent in the first half of the year, the study found
- The purchasing power of middle-class families has been reduced, while low-income households have been hit particularly hard
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
DIFC records 25 percent rise in registered firms in H1 2025
Dubai, UAE -- Dubai International Financial Centre (DIFC), the leading global financial center in the Middle East, Africa and South...
Business
Company News
ENEC, X-energy sign agreement
Business
Latest News
UAE is the most popular destination for global workers, says report
Dubai, UAE – The United Arab Emirates is the most popular country for international talent seeking employment visas, a report...
Business
Qatar Central Bank issues treasury bills, sukuk worth US$686m
DOHA, QATAR - The Qatar Central Bank issued treasury bills and sukuk with maturities of one week, one month, three...
Economy
Number of millionaires in BRICS likely to rise by 85 percent in 10 years, says report
DUBAI, UAE - The total investable wealth currently held in the BRICS bloc amounts to US$45 trillion and its millionaire...
Business
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Business
Ras Al Khaimah witnesses rise in issue of valid business licenses in 2023
RAS AL KHAIMAH, UAE - The economic growth of the Emirate continued to accelerate in 2023, with the Department of...
- The industrial sector in Ras Al Khaimah achieved a 5.3 percent annual growth rate in valid licence capital.
- Commercial licences experienced a 14.4 percent annual increase, bringing their total capital to $1.3 billion.
Business
Schneider Electric, Charge&Go ink pact
The aim is to develop EV charging facility in the UAE.
- Demand for electric vehicles in the UAE market has steadily increased over the past few years.
- The collaboration also aims to deliver on the demand for sustainable transportation in the UAE.
Business
Hamad Al Marar is EDGE CEO
EDGE has a local and global orderbook of over $5billion.
- Al Marar succeeds Mansour AlMulla, who is returning to ADQ Group following a successful two-year managerial secondment to EDGE.
- He will utilize his leadership skills and experience within the UAE’s defense industry to guide the group into the next phase of its evolution.