CBB Sukuk Al Salam securities oversubscribed by 372%
Manama, Bahrain--The Central Bank of Bahrain (CBB) announced that the monthly issue of the Sukuk Al Salam Islamic securities has...Business
Villas to drive Dubai realty growth in Q4
Arabian Ranches, Dubailand, Dubai South, Palm Jumeirah, MBR City, Dubai Hills Estate and DAMAC Hills 2 are likely to be...Up to 50% sales growth is expected in the villa segment during Q4 on a QoQ basis
The demand for villas is expected to surge in the areas near Expo 2020
Johnson Controls to build Dubai RIT’s sustainable campus
The company has partnered with Dubai Silicon Oasis Authority for energy optimization and efficiency of the campus.RIT Dubai aims to attract students and faculty committed to building a net-zero economy.
More than 1,000 students can learn from the company's AI solutions.
Dubai business licenses issued in Aug register 54 percent growth
The growth reflects the ease of doing business in the Emirate and the government's measures to simplify procedures for businesses.59 percent of the new licences issued in August 2021 were professional.
At 38 percent, sole establishment companies topped the list, followed by civil companies and limited liability companies.
Saudi gold glitters more in the region
Gold prices reached record levels in 2020 following an increase in investor appetite because of COVID-19. The price of yellow...Gold jewelry shopping in Saudi Arabia and Egypt grows 13 percent and 4 percent and decreases 12 percent in the UAE
China purchased 191.1 metric tons of gold in 2021, followed by India, which bought 102.5 metric tons
Iran looks east after China-led bloc okays entry
Iran has been trying to enter the SCO for years, and was close last year, but Tajikisatn objected to it.Iran has hailed its acceptance into the Shanghai Cooperation Organization, a bloc led by China and Russia
This, for it, was an eastward turn that it sees as opening access to major world markets and a counter to Western sanctions
UAE reelected as vice president of Belt and Road Tax Forum
The United Arab Emirates (UAE) has been elected as vice president of the Belt and Road Initiative Tax Administration Cooperation...The UAE’s delegation participated in the Supervisory Board meeting, where the President and the Vice President of the Forum were elected
The decision to continue with the UAE was taken during meetings bringing together participants from around 57 countries around the world
Dubai Police to use AI to secure Expo 2020
This would include monitoring visitors for safety from the moment of their arrival to the UAE until they reach the...The Dubai authorities have already taken several other steps to secure Expo 2020
This is especially after it has already been delayed by a year due to the Covid-19 pandemic
Dubai to get new arbitration court
The court will be part of a new arbitration body formed by Dubai’s ruler, and have 13 members with non-renewable...Dubai ruler Sheikh Mohammed has issued a decree that will merge two entities to create the Dubai International Arbitration Center
The DIAC, in turn, will establish a new arbitration court for Dubai, consisting of 13 members, including its president and vice-president
Saudi Arabia, South Africa to boost pandemic-hit trade
Saudi Arabia and South Africa are looking to boost trade after a year of slump that saw imports from the...South Africa imports approximately 40 percent of its oil from Saudi Arabia, according to the EIA
Far fewer goods went the other way, with Saudi Arabia importing $347.8 million from South Africa last year, down from $423.8 million in 2019
Unifonic to focus on profit, IPO, after securing $125m SoftBank funding
Days after securing a $125 million Series B funding from SoftBank, the Saudi startup, Unifonic, says that it wants to...The main criterion is to maximize the company’s profitability and the appropriate market in terms of the quality of the products we offer
Unifonic, which currently has offices in Saudi Arabia, the UAE, Jordan and Pakistan, plans to expand its customer engagement offering into new markets in the Middle East and Africa
