UAE tea exports increase to AED1.2bn in 2020

The tea trade volume reached AED586 million in Q1 this year, including exports worth AED310 million, re-exports of AD51 million and around AED224 million in imports

the UAE tea trade last year stood at around AED1.859 billion, including exports worth AED968 million, re-exports of AED128 million, and AED763 million of imports

Rich Lebanese look for home away from hardships

Citizenship by investment schemes have become a booming business internationally, attracting the well-to-do from volatile countries like Iraq, Yemen and Syria

"Three years ago, I would not have imagined I would buy a passport," said Jad, who had previously grappled with lengthy visa procedures for business trips

NFTs, like cryptocurrencies, lose their sheen

NFTs are tokens linked to digital images, "collectable" items, avatars in games or property and objects in the burgeoning virtual world of the metaverse

The number of NFTs traded in the first quarter of this year slumped by almost 50 percent compared to the previous quarter, according to analysis firm Non-Fungible

Strong demand spurs Dubai’s realty growth

According to a report by Asteco Property Management, 2021 witnessed the delivery of about 17,000 housing units, including 15,000 apartments and 2,000 villas

Manager Partner of BSA, Jimmy Haoula, explained that the UAE had outshined many of its neighboring jurisdictions with a welcoming economy and a safe place to grow and live

Saudi oil supply to China soars 38% in April, highest since 2020

Saudi oil supply amounted to 8.93 million tons last month, equivalent to 2.17 million barrels per day

The hefty purchases, with trades completed mostly in February, compare with 1.61 million bpd in March and 1.57 million bpd a year earlier

Dubai: A Monaco in the making in the Gulf region

EU looks to build a strategic partnership with GCC

European External Action Service Spokesman Peter Stano said the cooperation is a must due to the current geopolitical developments

He added, “Together with our partners, we represent 20% of the global economy, and half of the foreign direct investments"

Dubai’s luxury retail on the rebound

Government initiatives have sped up rebuilding, including making the country a safe refuge for both inhabitants and tourists which has fuelled the consumer activity

With the introduction of new laws such as 5-year multi-entry tourist visa and a 10 year Golden Visa, the prospects for growth in luxury retail have become bright

Qatar looks to upgrade ties with British Rail, discusses collaboration opportunities

The discussions involved collaboration across the full spectrum of customer experience, maintenance and operations

The delegation received a briefing on Qatar Rail projects and shared information with Qatar Rail about its capabilities

Qatar and Germany to boost cooperation in energy sector

Qatar's Minister of State for Energy Affairs Eng. Saad bin Sherida Al Kaabi and German Minister for Economic Affairs and Climate Action, Dr. Robert Habeck signed the agreement

Germany aims to diversify its gas supply with the help of liquefied natural gas (LNG) in order to foster energy security during the transition period towards carbon neutrality