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TSMC’s H1 revenue up 40 percent

Robust demand for AI technology behind the surge.

‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

  • India and Australia sign trade deal to cut tariffs

    India and Australia signed an interim free trade deal on Saturday that cuts tariffs on billions of dollars of commerce...

    Both signatories are members of the Quad alliance with the United States and Japan, which is seen as a counterweight to an increasingly assertive China

    Two-way trade reached around $27.5 billion last year according to New Delhi, with resource-rich Australia exporting coal and other commodities, along with sheep meat

  • Aldar buys Ras Al Khaimah’s Rixos Bab Al Bahr hotel in $210m deal

    Aldar Investment acquired the 715-room hotel that opened its doors in 2014, marking the company's second investment in the emirate...

    Aldar Investment acquired the 715-room hotel that opened its doors in 2014, marking the company's second investment in the emirate this year

    Aldar Investment has also secured development rights for an additional 250,000 square feet for residential and commercial use, it said in a statement

  • Dubai’s real estate market to ramp up going forward: Report

    Over 84 percent of real estate professionals expect competition within Dubai’s real estate market to ramp up going forward, according...

    More than two-thirds (68 percent) of respondents in Dubai said they had experienced growth over the previous twelve months

    In November 2021, Dubai registered the best month of sales on record, with a total of 6,989 transactions worth AED17.95 billion

  • Jordan, US discuss ways to enhance strategic partnership

    Jordan’s Deputy Prime Minister Ayman Safadi and US Secretary of State Antony Blinken discussed the new MoU for the strategic...

    A new MoU between the two countries frames the US aid for Jordan, replacing the current memorandum, which expires in September 2022

    According to the current MoU, the US has provided Jordan with annual support over the past four years, which amounted to 1.65 billion in 2021

  • Ortega heiress heads Zara parent

    Marta Ortega on Friday took the reins of Zara-owner Inditex.

    Worth some €62 billion, Zara-parent Inditex nearly tripled its profits last year to €3.2 billion

    However, its outlook for 2022 has been overshadowed by Russia's invasion of Ukraine

  • UAE, Colombia finish phase 1 of Comprehensive Economic Partnership Agreement

    UAE-Colombia non-oil trade was valued at AED991 million ($269.84 million) last year. Under the partnership, this figure could increase threefold...

    The agreement is expected to help strengthen trade and investment relations between the two countries

    The UAE’s Ministry of Economy has said it is continuing joint efforts to reach a final draft of the agreement

  • ADPG profit up Dh397m

    The company’s revenue rose to AED 3.9 billion.

    AD Ports Group has evolved into a vertically integrated ecosystem of businesses that include Economic Cities & Free Zones, Ports, Logistics, Maritime, and Digital services

    As a strategic gateway to Abu Dhabi, AD Ports Group generated 21 percent of all non-oil related GDP in the Emirate, according to Oxford Economics

  • GCC pharma industry: Leaders and innovators

    GCC countries have a highly dynamic environment characterized by growing populations, a broad diversity of patient demands and increasing healthcare...

    The number of drug factories in the UAE has risen from four in 2010 to 23 in 2021, while its drug market is expected to grow up to $4.7 bn in 2025.

    More than $400m worth of Saudi pharmaceuticals are exported each year. The kingdom aims to double the percentage of local pharma manufacturers.

  • NEOM subsidiary sets up Hydrogen and Innovation Development Center

    ENOWA, the energy, water and hydrogen subsidiary of NEOM, has established the region's first Hydrogen and Innovation Development Center (HIDC)....

    The Hydrogen and Innovation Development Center will be a testing ground for new technologies in the clean energy industry.

    The Center will also be a collaborative learning community for research institutions focused on hydrogen and the circular carbon economy.

  • Israel and UAE ‘milestone’ free trade deal to boost commercial relations

    Israel described as "historic" the deal abolishing customs duties on "95 percent of the products" exchanged between the Jewish state...

    Talks for a free trade agreement were concluded Friday after four rounds of negotiations, including last month in Egypt between Israeli PM and Abu Dhabi Crown Prince.

    The deal was now "ready for signature", the UAE's Minister of State for Foreign Trade Thani al-Zeyoudi said.