15% increase in air traffic at UAE airports during COP28, says GCAA
ABU DHABI, UAE – Airports in the country witnessed a 15 percent increase in air traffic during the 28th Conference...Business Economy Aviation
Aldar ties up with Yellow Door Energy
They will supply solar power to 45 properties in the UAE.Business
Majid Al Futtaim’s H1 revenue dips 10 percent
Majid Al Futtaim, a shopping mall operator in the Middle East, has reported a drop in revenues for the first...Mall operator maintains its H1 2021 performance remained robust
Revenues for the period reached 15.6 billion UAE dirhams ($4.2 billion), down by 10 percent from a year earlier
UAE hotel occupancy leaps up as tourists return
In a sign of normalcy returning, hotels across the United Arab Emirates (UAE) have reported a significant rise in occupancy...From January to June, overall occupancy climbed to 62 percent compared to 53.6 percent during the same period in 2020
International, domestic tourism boost occupancy levels
$24bn deals signed at Fifth China-Arab States Expo
Eight Chinese provinces and cities, including Beijing, Tianjin, Zhejiang, Henan, and Guangdong, have signed 12 investment projects with Arab countries...A total of 287 deals worth about $28.56 billion were signed at the Fourth China-Arab States Expo.
More than 1,000 domestic and overseas enterprises have registered as exhibitors this year.
Saudi defense sector opens up for investment
Saudi Arabia has opened up its defense sector for local and international companies to invest in, and in this direction...GAMI launched digital marketplace platform offering investors easy access to local suppliers
Saudi Arabia’s General Authority for Military Industries GAMI has identified 74 investment opportunities, across six domains of the military industries sector
Aldar launches Yas Acres Magnolias
The community consists of 312 properties available for purchase from September 4.The gated community consists of 312 villas and townhouses available for purchase from Sept. 4.
Each unit has fixtures that reduce water and energy consumption, the company said.
Court to help UAE combat financial crimes established
DUBAI: A court has been set up in the United Arab Emirates with a focus on combating money laundering, Dubai...UAE had earlier established the Executive Office of the Anti-Money Laundering & Countering the Financing of Terrorism.
The new court will reinforce UAE’s compliance with international anti-money laundering and law-enforcement standards, says Judge Dr. Abdullah Al Shamsi.
Saudi SMES exempted from commerce register fees
Eligible for exemption are those wishing to issue a new trade register from the financial equivalent for three years and...Startup costs for commerce fees register decreased by 96 percent for companies, according to ministry of commerce.
Decrease in commerce fee register for enterprises decreased from 33-75 percent.
Graft, security issues feed trade in Iraq’s past
Do you want to buy a more than 3,000-year-old Sumerian tablet, listed as the property of a gentleman from Sussex...The purchased antiquity may not be handed down but handed on, via smugglers and middlemen
Also, the ownership history of some such objects can be harder to prove
UAE introduces 22 new licenses under Basic Industries Project
The project promotes local industrial investment in key sectors such as medical, food, steel, cement.A total investment of AED 286 million has been reported by ADDED, IDB in the new licenses.
IDB seeks to add 50 new local industrial facilities over the next three years.
ADNOC emerging as UAE’s FDI magnet
Besides wooing $74 billion investments, the oil giant has helped the country gain the top position in the Middle East...ADNOC has set its eyes on developing green hydrogen and blue ammonia products.
The company plans to spend $122 billion between 2021 and 2025 to develop its businesses.