Ajman records real estate transactions worth US$195m in February
AJMAN, UAE – Director-General of Ajman’s Department of Land and Real Estate Regulation Eng. Omar bin Omair Al Muhairi said...Business
UAE Ministry of Energy joins National ICV Program
DUBAI, UAE - The Ministry of Energy and Infrastructure (MoEI) has joined UAE's National In-Country Value (ICV) program following a...The MoU supports national strategic objectives to boost the growth of the industrial and advanced technology sectors.
It aligns with the National ICV program's aims to enhance economic growth by redirecting government expenditure into the national economy.
Mawani to set up $533m petroleum products storage center
Riyadh, Saudi Arabia -- Saudi Arabia's General Authority of Ports, known as Mawani, has joined forces with Albanova International Company,...This initiative is part of a project aimed at developing a leading center for bunkering ships at King Fahd Industrial Port in Yanbu.
The 393,000-square-meter center aims to accommodate storage tanks for trading, blending, and storing petroleum materials, meeting the logistical demands of the petroleum industry.
TikTok’s e-commerce venture paying off in Southeast Asia
From Indonesia, TikTok Shop "aggressively expanded into five additional Southeast Asian markets, many of which boasted large populations of TikTok...TikTok Shop capitalised on the legions of users of the popular video-sharing app to expand its business in 2022 after testing the waters in Indonesia in 2021
While it lagged rivals Shopee and Lazada, TikTok Shop posted fastest growth rate expanding its gross merchandise value, sevenfold to $4.4 billion in 2022
Dow slides, Nasdaq jumps after mixed Fed rate decision
The US central bank, as expected, opted to hold its benchmark lending rate between 5.0 percent and 5.25 percent. But...The broad-based S&P 500 added 0.1 percent at 4,372.59, while the tech-rich Nasdaq Composite Index climbed 0.4 percent to 13,626.48
Powell described inflation as still too high, but added that the central bank had made no decisions yet about its July meeting or subsequent gatherings
At UN, UAE plays up link between climate change and peace
Exhorting the Security Council to adopt what she called as innovative attempts to address the interplay between climate change, peace...The minister exhorted the council to approach conflicts through a climate-sensitive lens, strengthening the capacity of relevant peace operations
Chairing presidency of the UN Security Council for June, the UAE held the debate under the title "threats to international peace and security"
High oil prices fuel Saudi Arabia’s economy as GDP grows to 8.7% in 2022
Riyadh, Saudi Arabia-- Saudi Arabia has recorded an 8.7 percent increase in gross domestic product (GDP) in 2022, as against...The kingdom's growth was driven by oil, which contributed 15.4 percent to the overall GDP growth, while non-oil activities also made a positive contribution of 5.4%
In 2023, stable commodity and food prices are expected to limit upward pressure on imported goods as the dollar continues to gain strength
Here are Dubai’s top 3 locations for profitable rental investments
Dubai, UAE – Realiste, proptech company in the UAE, has made a list of the most profitable areas for short-term...The company has recommended adherence to a short-term strategy for investments in Jumeirah Beach Resorts (JBR)
Jumeirah Lakes Towers is great for both long-term and short-term strategies as rental is 30% cheaper than JBR
Qatar and Iran look to boost monetary, banking ties to propel trade
Tehran, Iran--Qatar and Iran are looking to boost monetary and banking cooperation that would propel all-round development of trade between...The establishment of monetary and banking relations between Doha and Tehran will drive the volume of trade between the two countries significantly
Referring to Tehran-Doha joint cooperation, Qatar's central bank governor said that there are many opportunities to increase trade between Qatar and Iran
Dubai Airshow 2023 to show off latest trends in aerial mobility
Dubai, UAE-- Dubai Airshow 2023 will show off the latest trends in the advanced aerial mobility (AAM) market as disruptive...The airshow in Dubai will lure global industry players and thought leaders from across aerospace, space and defense later this year to showcase the latest innovative solutions
Participants at the airshow will have the chance to look up a host of aerial transport solutions, including drones, UAVs, UAMs and eVTOLs, at the brand new AAM pavilion
Private sector share in UAE GDP rise to over 70%
Geneva, UAE - The private sector has increased its contribution to the UAE GDP to more than 70 percent, making...The UAE economy grew by 7.6 percent in 2022 and the total economic licences registered in the country reached over 1,014,000 licences
The country will discuss enhancing the resilience of the global economy to face crises and climate change at this COP28 later this year
