Smart cities lead GCC’s IoT boom: NEOM and Smart Dubai in focus
IoT applications are transforming critical sectors such as transportation, where connected vehicles improve traffic management, utilities where smart grids enhance...Technology Technology Business Economy
Logistics: At the heart of economic activity
The global logistics market is expected to be around US$10 trillion in 2024, and is estimated to reach US$21.91 trillion...Technology Business Economy
DAE closes $1.6 billion loan
DAE said this is the company's largest ever loan facility.The facility enabled DAE to tap the Islamic banking liquidity and consolidate its existing banking relationships in the Middle East, Asia, North America, and Europe, it said.
Proceeds from the facilities will support the future financing needs of the business and refinance a maturing credit facility.
EIH buys stake in Al Ain Pharmacy
Move aligns with EIH's aim to diversify sources of investment.The acquisition is vital for EIH as it seeks to strengthen its investment in healthcare through its subsidiary Health Plus Holding.
The move will help provide additional and sustainable value to investors and achieve the maximum return on investment.
Shares in Chinese property giant Evergrande plunge after employees’ arrest
Evergrande, the world's most-indebted property developer with an estimated debt of $328 billion (307 billion euros) at the end of...Evergrande's stock price dipped to 0.47 around 9 am in Hong Kong (0100 GMT) on Monday, before ticking back up, after closing at 0.62 Hong Kong dollars on Friday
The drop comes two days after police of the Shenzhen said in a statement that several employees of Evergrande's financial subsidiary were arrested
QOIS inks share purchase, swap deal
QOIS is a Qatari public shareholding company.QOIS purchased the shares of the National Real Estate Development and Investment (OSOS) in Muzn Oman, for $1,984,318
QOIS then exchanged its share in Muzn Oman of 37.68 percent, for the 10 percent share of Omani Ministry of Defense Pension Funds in OSOS
Emirates Health Services to adopt AI technology to boost hospital care services
Dubai, UAE-- Emirates Health Services will employ AI technology in the application of patient room monitoring system to further enhance...The partnership will leverage generative AI and implement the care.ai system across EHS healthcare facilities
It will monitor the mental well-being of the patients, as well as help prevent and control infections and assess hygiene conditions
Russian and Asian millionaires drive Dubai realty boom
Cryptocurrency magnates, Asian bankers, wealthy Russians, and government reforms are playing a crucial role in solidifying Dubai's global real estate...Cryptocurrency magnates, Asian bankers, wealthy Russians, and government reforms, are solidifying Dubai global real estate prominence, says a report
Dubai promises investors a 7.34% return on apartments, benefiting from a US dollar-UAE dirham peg and no rental tax, outpacing London's 4.18% return
Realty sector’s success hinges on GDP growth
The kingdom’s Minister of Housing, Majid Al-Hogail recently said that Gulf country's residential real estate finance is expected to exceed...Saudi Arabia has unveiled the MENA region's inaugural real estate stock exchange, marking a transformative moment for property trade in the Kingdom.
The Kingdom's residential real estate finance is expected to exceed 1.2 million contracts with a value of SR600 billion ($162 billion) by 2030.
Jordan’s interconnection projects to serve as hub for energy exchange
AMMAN, JORDAN -The Kingdom’s Ministry of Energy and Mineral Resources has emphasized the significance of current and upcoming electrical interconnection...Jordanian authorities are working on a project to connect the Kingdom’s Risha electrical station to Iraq's Rutba station.
The interconnection line will allow the Iraqis to power the Rutba area's loads, using the Jordanian grid.
BFB, The Family Office sign partnership
Bahrain FinTech Bay is a fintech ecosystem builder.BFB said that it will also explore the development of innovative digital investment solutions aligned with market trends.
Bader Sater, CEO of Bahrain FinTech Bay. "Our combined strengths will lead to the creation of cutting-edge digital investment offerings that cater to the market's evolving needs."
Iran and Cuba to set up joint ‘technology and innovation’ center
Tehran, Iran-- Iran and Cuba are looking to to set up a joint technology and innovation center to promote cooperation...The two countries apart from boosting economic ties are keen to develop mutual cooperation in the fields of science and technology
Cuba is planning to hold an exhibition in 2024 and has invited Iranian knowledge-based companies to showcase their latest achievements
