Sales of $10m-plus homes in Dubai grow by record 92% in 2023
Dubai, UAE -- The total number of US$10 million plus home sales in Dubai grew by 92.4 percent to 431...Business
China looks to woo back global elites at Davos forum
Prime Minister Li Qiang, who will make a special address on Tuesday, will be the most senior Chinese official to...Business
Aramco’s market value jumps to $2 trillion for the first time in two years
The market value of Aramco has exceeded $2 trillion after its shares vaulted to their highest level since the start...The Saudi company helped fuel a rise in the Kingdom's stock market, with the Tadawul index exceeding 11,600 points for the first time in 14 years today
Aramco shares came at the forefront of the active shares in the market, with a 1.08 percent rise and reaching SR37.45 per share
ADGM-registered can now list shares on UAE markets
Entities registered with the Abu Dhabi Global Market or ADGM will now be able to offer and list shares on...An MoU was signed between the Registration Authority of the ADGM and the Securities and Commodities Authority or the SCA.
The agreement aims to reinforce regulatory and supervisory cooperation between the two parties
Kuwait private sector partner in boosting trade ties: UAE chambers
KUWAIT: A delegation from the Federation of UAE Chambers of Commerce and Industry and officials of the Kuwait Chamber of...Federation of UAE Chambers and Kuwait Chamber hold a meeting to discuss ways of promoting investment opportunities.
Kuwait Chamber chairman expects Kuwait-Abu Dhabi cooperation in healthcare, education and food security.
Saudi to punish expats who engage in jobs for personal benefit
The punishments could include monetary penalties, imprisonment, and then subsequent deportation.Any self-employed expatriate who engage in jobs for their own personal benefit could be fined SAR50,000 (around $13,300), jailed for six months
The self-employed expatriate would be deported after serving the jail term and the payment of fines
Pakistan invites auto-sector investment at Expo
The Federal Board of Investment of Pakistan has invited auto-sector investors to set up business within the country.The Pakistan government promises a safe and secure environment for foreign investors with legal protection under the Acts of Parliament
It also promises investment opportunities in all sectors of economy for foreign investors with 100 percent equity or joint ventures
Credit insurance firms of UAE and France sign reinsurance pact
DUBAI: Etihad Credit Insurance (ECI), a UAE Federal export credit company, and Bpifrance Assurance Export, a French export credit agency,...Etihad Credit Insurance and Bpifrance Assurance Export will push more Emirate and French projects globally.
The UAE is France’s second-largest trade partner in the region. Non-oil foreign trade between the countries was AED 19.7 billion in 2020.
Ducab unveils new brand identity
The UAE-based company will now focus on providing ‘Energy for change’.The UAE-based company will now focus on providing ‘Energy for change’
The company seeks to generate positive economic, social, and environmental impact
Bahrain VAT rate hike may boost sales of UAE retailers
Bahrain plans to double its VAT rate to 10 percent, which is likely to drive its citizens to shop in...In the GCC, Saudi Arabia and the UAE were the first to introduce a VAT system in January 2018
Bahrain followed a year later, and Oman brought in the tax in April 2021
Amazon extends its cloud over Middle East
Nearly two years after it set up a base in Bahrain, Amazon Web Services (AWS) has widened its footprint beyond...The new AWS Middle East UAE Region will have three Availability Zones and will be AWS' second Middle East region
Customers with data residency requirements in the UAE can now store their data in the new AWS Region in UAE
Saudi Arabia’s Jabal Omar secures deal to restructure $1.25bn loan
Jabal Omar Development Company, one of Saudi Arabia's largest-listed property developers, has signed a deal to restructure a SAR 4.7-billion...The repayments will begin after a three-year grace period, Jabal Omar said in an exchange filing
As per the new agreement, the loan’s final maturity has been extended by three years to 2030
