Saudi Arabia’s inflation rate 2 percent in Jan, rental prices main driver
Riyadh, Saudi Arabia -- Saudi Arabia's annual inflation rate in Jan 2025 reached 2 percent compared to January 2024, the...Business Economy
TAQA net income $1.93bn in 2024
The company's revenues increased 6.7 percent year-on-year.Company News Business
DMCC launches global trade roadshow in London to attract FDI from UK
Dubai, UAE--DMCC has kicked off the ninth edition of its global trade roadshow, Made For Trade Live, in London, seeking...During the four quarters to the end of Q2 2023, the UAE-UK bilateral trade grew 47.3% year-on-year to reach $32.40 billion
In 2023, more than 200 British companies joined DMCC’s business district alone, representing a 10% year-on-year growth
Innovations, investment spur UAE lab equipment surge
Driven by a growing population, the prevalence of chronic diseases, and significant government investments, the UAE's laboratory equipment market is...Driven by a growing population, the prevalence of chronic diseases, and significant government investments, the UAE's laboratory equipment market is set to hit $1.5b by 2027.
Technological innovations in diagnostics play a key role in this dynamic landscape, setting the UAE's healthcare sector on a path of transformative growth, say a latest report.
UAE MoD ink deals worth $517m in first two days of UMEX and SimTEX 2024
ABU DHABI, UAE - On the second day of the sixth edition of UMEX and SimTEX 2024, the accumulated value...The second day of the event witnessed announcement of five deals signed by the Tawazun Council.
The total number of local contracts on the second day of UMEX and SimTEX 2024 reached five contracts.
Hub71-backed ABHI to set up global headquarters in Abu Dhabi
DUBAI, UAE - With support from the Abu Dhabi Investment Office (ADIO), Hub71-backed ABHI, an embedded finance platform founded in...ABHI is working with Abu Dhabi Investment Office as it scales up its operations to capture growth opportunities in emerging markets.
ADIO provides a range of support to the FinTech company, including incentives and connections to the Abu Dhabi ecosystem.
Milrem and UAE sign world’s biggest defense robotics order
Abu Dhabi, UAE - EDGE Group entity Milrem Robotics signs a contract to supply 20 tracked robotic combat vehicles (RCVs)...Milrem will supply 20 tracked robotic combat vehicles (RCVs) and 40 THeMIS unmanned ground vehicles (UGVs) to UAE Ministry of Defense.
Milrem Robotics will also provide comprehensive training and supervision to ensure the relevant personnel.
Dubai wins right to host 349 business event in 2023
DUBAI, UAE - Dubai consolidated its status as a central hub for international business events in 2023, with the city...Driven by Dubai Business Events, the wins reflected a robust 49 percent increase in successful bids compared to 2022.
DBE brought a citywide offering to the global market that resonated with the core needs of the business events industry.
ADNOC Drilling begins use of hybrid rigs
The rigs use high-capacity battery to reduce emissions.In 2023, the company acquired 16 such rigs for a combined $327 million investment.
The remaining 14 newbuild rigs are expected to join ADNOC Drilling’s operational fleet progressively throughout the year.
Saudi Arabia’s real estate deals fall 11 percent in 2023: Ministry
Riyadh, Saudi Arabia -- The value of Saudi Arabia's real estate transactions fell year-on-year by 11 percent to nearly SAR...The number of real estate transactions reached around 172,070 by the end of 2023, while the total number of sold property reached 177,500.
Meanwhile, transactions value increased in the remaining five months, led by July at 65 percent.
ASML profit soars to US$8.5bn
It has shrugged off geopolitical tensions to post high profits.Its CEO Peter Wennink said in a statement that the semiconductor industry continues to work through the bottom of the cycle
It is one of the top manufacturers of equipment to make state-of-the-art semiconductor chips, which power mobile phones and cars
Global halal market set to hit $7.7 trillion by 2025
Makkah, Saudi Arabia — Global halal market is projected to reach an estimated $7.7 trillion by 2025. Leading the expansion...In education and health sectors, recent economic reports foresee the halal economy market doubling from $2.30 trillion in 2020 to $4.96 trillion in 2030
The Public Investment Fund in Saudi Arabia, a frontrunner in the global halal industry, took the initiative in 2022 to establish a company specializing in the development of halal
