Saudi Arabia transfers 8% Aramco stake to PIF-owned firms
Saudi Arabia said it transferred an additional eight percent stake from oil giant Aramco to firms owned by the kingdom's...Business Economy Energy
Trailblazing women transform finance in Arab world
Extraordinary Arab women are breaking barriers and setting new precedents in the traditionally male-dominated sectors of banking, finance, and investments.Business Banking & Finance
Dubai makes rental payment hassle free
An agreement between Dubai Land Department and Emirates NBD eliminates the need for manually managing postdated cheques submitted to landlords.Dubai has one of world’s most competitive real estate markets. Rents have increased dramatically in the emirate: In May, the average monthly apartment rent was $7,500.
Real estate is an important part of the UAE’s economy, responsible for around 5 percent of the gross domestic product.
Dubai retains spot as world’s top tourism FDI destination in 2021
Dubai has retained its top rank worldwide for attracting foreign direct investment (FDI) into tourism in 2021. With AED6.4 billion...With $1.74 bn in FDI across 30 FDI projects during the year, Dubai ranked number one in FDI capital, projects, and job creation in the tourism sector.
Dubai welcomed 7.28 million international overnight visitors in 2021, representing a 32 percent year-over-year growth.
Iraqi PM calls for joint efforts to tackle issues facing region
Iraqi Prime Minister Mustafa Al-Kadhimi said the Middle East has been affected by climate change, water crisis, dangers of desertification,...The Middle East has been affected by climate change, water crisis, dangers of desertification and COVID-19 pandemic.
Iraqi Prime Minister Mustafa Al-Kadhimi has called for joint efforts to confront the issues facing the region
Jeddah Summit enhances ties with US, GCC countries: Saudi minister
Saudi Minister of Investment Eng. Khalid bin Abdulaziz Al-Falih said that the Saudi-US and GCC-US summits, in the presence of...Jeddah Summit strengthens solid relations and strategic partnership between the US and GCC countries
Economic relations between the US and the Kingdom are nearly 90 years old, says Saudi minister
Sharjah records real estate transactions worth $517 million in June
A total of 747 real estate sales in 106 areas valued at $517 million were recorded in Sharjah in the...The total number of real estate transactions was 2,521, including 358 mortgage transactions worth AED 764 million (14.2 percent).
The June real estate transactions in the emirate covered more than 6 million square feet and included residential, commercial, industrial, and agricultural lands.
UAE equities gain, Saudi market posts losses
Abu Dhabi and Dubai stock markets climbed up, while the Saudi index tanked down by more than 1.1 percent this...The Saudi TASI index ended trading on Wednesday, July 13, 2022, in the red zone, to close down 127 points, or 1.1 percent, to close at the level of 11,290 points
The general index of the Abu Dhabi Securities Exchange ended trading on Tuesday, July 12, 2022, increasing by 0.1 percent to 9,171 points
Startups attract huge investments in MENA
Agritech, proptech and fintech sectors remain popular among investors as the region's startups raise nearly 76% of their capital with...Agritech, proptech and fintech sectors remain popular among investors as the region's startups raise nearly 76% of their capital with UAE-based firms leading from the front
Startups in MENA countries raised US$ 323.7 million across 66 deals in June 2022, an 84 percent increase in value and a 57 percent increase in deal volume month-on-month
Real estate transactions worth US$1.5bn recorded in Dubai
Dubai's real estate and property transactions valued at AED 5.5 billion ($1.5 billion) during the week ending 15 July 2022....186 plots were sold for US$162 million, 1,004 apartments and villas were sold for US$662 million
The amount of mortgaged properties was worth US$561 million, highest being a building in Burj Khalifa
‘Unrealistic policies to curb emissions could fuel inflation’
Saudi Crown Prince Mohammed bin Salman warned that unrealistic policies to curb emissions could fuel inflation, as he chaired a...Saudi Crown Prince Mohammed bin Salman said unrealistic policies to curb emissions could fuel inflation
Last year, Saudi Arabia pledged ahead of the COP26 climate change summit to achieve net zero carbon emissions by 2060
Abu Dhabi EAD launches environmental labeling program
The Environment Agency - Abu Dhabi (EAD) launched the 'Green Industries' environmental labeling program. The program is based on best...The 'Green Industries' environmental labeling program is based on best international practices in the field of eco-labeling
The program aims to build mutually supportive partnerships to enhance the contribution of industrial facilities to environmental protection.
