GCC countries record $587.8 billion in nominal GDP by end of Q4 2024
Muscat, Oman -- The nominal Gross Domestic Product (GDP) of the Gulf Cooperation Council (GCC) countries reached US$587.8 billion by...
Economy
Dubai real estate transactions exceed $117.34 billion in first half of 2025
The number of new investors in the market reached 59,075, with investments totaling $42.74 billion, a 22 percent increase in...
Business
Business
DEWA commissions two new transmission substations
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has commissioned a new 132/11kV substations in Al Awir First with...
- DEWA inaugurated a new transmission 400/132kV substation in Jebel Ali First.
- DEWA inaugurated an overhead cables with a conversion transmission of 2,000 MVA, at a total cost of US$92 million.
Economy
Abu Dhabi’s GDP expands by 11.2 percent in first half of 2022
The quarterly GDP growth rate reached its highest value in six years during the second quarter of 2022 which hit...
- The real GDP value (at constant prices) exceeded AED543 bn ($147 bn) and the value of the non-oil sectors' GDP increased AED28.4 bn compared to H1 to reach AED273 bn in total.
- According to data released by SCAD, the mining and quarrying activities (including crude oil and natural gas) contributed 49.7 percent to the real GDP.
Economy
Jordan looks to partner with private sector to prop up economy
Amman, Jordan— The Kingdom of Jordan intends to foster a "robust partnership" with the private sector of the country that...
- He said the economic modernization scheme set a roadmap for the next stage to stimulate and advance the national economy
- Shamali said the department has a reform scheme to provide facilities to importers and exporters at border crossings
Qatar records ‘impressive’ 94% attendance in World Cup first round
Doha, Qatar— After the first round of FIFA World Cup group stage matches were completed, official figures show that the...
- The highest match attendance of the tournament was the game at Lusail Stadium on 24 November, with 88,103 there to see Brazil beat Serbia 2-0
- For all other matches, a minimum 40,000-seater capacity is required, with the demountable Stadium 974 being the most compact of all Qatar 2022 venues (44,089)
Science
MoCCAE highlights role of UAE Climate Change Research Network
SHARM EL SHEIKH, EGYPT - The Ministry of Climate Change and Environment (MoCCAE) organized an awareness session on the UAE...
- The network aims to support collaborative research programs by creating a platform for engaging the academic and scientific community.
- Drawing the participation of 100 attendees, the event explored several key topics, including promoting science and policy engagement for climate action.
Geostrategy
Iran’s Khamenei says negotiating with US won’t end recent ‘troubles’
TEHRAN, IRAN - Iran's supreme leader Ayatollah Ali Khamenei said Saturday that negotiating with the United States would not put...
- Iran has seen weeks of demonstrations sparked by the September 16 death in custody of 22-year-old Kurdish-Iranian woman Mahsa Amini.
- She had been arrested for an alleged breach of the country's strict dress code for women.
Science
UAE University’s agriculture college launches campaign to cut food waste
AL AIN, UAE - The College of Agriculture and Veterinary Medicine at the United Arab Emirates University launched an awareness...
- The program is targeting schools and universities to educate students about the need to reduce food waste.
- The studies conducted in the food court showed that over 50 kilograms of foods is wasted daily during breakfast and lunch.
Economy
Qatar ready to provide up to $10 billion in funding to Turkey: sources
Turkish and Qatari official are in the final stages of talks to work out the modalities of extending the funding.
- Turkish and Qatari official are in the final stages of talks to work out the modalities of extending the funding
- The Turkish central bank already had a swap agreement with Qatar's central bank that was originally worth $5 billion
Economy
UNWTO says investments key to transform tourism
Marrakesh, Morocco—The UN World Tourism Organization (UNWTO) convened its 117th Executive Council in Marrakesh, Morocco, as the sector’s recovery continues...
- On the eve of the Marrakesh meeting, the United Nations General Assembly was presented with a a draft resolution calling on all to promote tourism
- The Executive Council is the top governing body of UNWTO and meets twice a year
Business
ENBD REIT announces H1 NAV
The company achieved a gross rental income of $15 million.
- The property portfolio value increased by $4.7 million from the previous quarter to $362 million
- The company achieved a gross rental income of $15 million, up 0.7 percent from the same period last year
GCC countries record $587.8 billion in nominal GDP by end of Q4 2024
Muscat, Oman -- The nominal Gross Domestic Product (GDP) of the Gulf Cooperation Council (GCC) countries reached US$587.8 billion by...
Economy
Company News
Latest News
UAE approves Dubai Metro Blue Line project
Geostrategy
Palestinians count cost of Israel’s West Bank raid
Palestinians held funerals and assessed the damage of a days-long Israeli raid in the occupied West Bank, where violence has...
Geostrategy
Qatar real estate trading volume reaches US$91m between January 7-11
DOHA, QATAR - The volume of real estate trading in sales contracts at the Department of Real Estate Registration at...
Business
Emirates to recruit 5,000 crew members in 2024
DUBAI, UAE – Emirates will hire 5,000 people as it awaits the arrival of its fleet of Airbus A350s. The airline...
Business
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Geostrategy
EU worried Red Sea attacks could spark inflation
European Union economy commissioner Paolo Gentiloni warned that violence in the Red Sea sparked by Houthi attacks on shipping could...
- Gentiloni said that "what is happening in the Red Sea... is not for the moment apparently creating consequences on energy prices and inflation".
- Tensions in the Red Sea have soared after the United States and Britain carried out strikes on Houthi rebels in Yemen.
Business
Mammoet, Aertssen sign agreement
The two firms will provide heavy-lifting solutions in Qatar.
- Mammoet said in a statement that the collaboration will "capitalize on the individual strengths and capabilities of both companies".
- The solutions range from small mobile cranes for quick operations to complex engineered heavy lifting and transport projects.
Business
PureHealth buys Circle Health
The deal signifies PureHealth’s operational capabilities.
- The completion of this transaction further strengthens PureHealth’s commitment to becoming a leading global player in healthcare.
- The company’s expansion into the UK healthcare market reflects its focus on advancing the science of longevity and unlocking time for humanity.