Dubai records over US$2.6bn in weeklong real estate transactions
DUBAI, UAE - A total of 3,543 real estate transactions worth over US$2.6 billion (AED9.8 billion) were conducted during the...Business Economy
Barclays bank to stop financing new oil, gas projects
London, United Kingdom -- British bank Barclays said Friday it would stop directly financing its energy clients' new oil and gas...Business Climate Change
UAE, Malta trade bodies join hands for industrial cooperation
FUCCI Chairman Abdullah Mohamed Al Mazrouei signed the MoU with Marisa Xuereb, President of the Malta Chamber.The MoU is expected to help both parties expand economic, trade, and industrial cooperation
It is also expected to encourage Emirati and Maltese businesses to form new partnerships
Meta touts supercomputer
The device is up to 20 times faster than Facebook’s current systems.Meta said the machine, known as AI Research SuperCluster, was already in the top five fastest supercomputers
It would apparently become the fastest AI machine in the world when fully built in the next few months
Fitch upgrades Saudi Electricity Company’s rating after improved record
Fitch Solutions has upgraded the Saudi Electricity Company's credit rating from A- to A with a stable outlook, an upgrade...The international agency emphasized that the new classification was driven by the result of the improvement of the company's independent credit record.
The agency said that the company's independent credit rating reflects its large revenues and strong market status in the electricity generation.
Saudi finance minister calls for GCC cooperation
Saudi Arabia's finance minister, Mohammed bin Abdullah Al-Jadaan, has stressed the need for the promotion of the joint Gulf action,...During the meeting, the ministers reviewed the progress made on issues related to strengthening the financial and economic cooperation among the GCC states
The meeting was chaired by the Minister of Finance, Chairman of the current session, Mohammed bin Abdullah Al-Jadaan
Istanbul airport closes down as snowstorm hits region
Europe's busiest airport shut down in Istanbul while schools and vaccination centers closed in Athens as a rare snowstorm blanketed...The closure of Istanbul Airport affected flights stretching from the Middle East and Africa to Europe and Asia
it dealt a major headache for the 16 million residents of Turkey's largest city, which ground to an effective halt
Dubai Land Department and three firms team up to provide real estate data
Dubai Land Department (DLD) has signed memoranda of understanding (MoUs) with three companies that specialize in providing smart and advanced...The department sigs MoUs with Bayut, DXBinteract.com, and Property Finder.
Data will be provided according to real estate construction, including the regional buying and selling prices.
Arada secures $41m in finance
The money will fund Aljada mixed-use project in Sharjah.While AED37m will finance a villa complex within the Aljada community, AED115m will fund the construction of the final phase of the SABIS International School.
Founded in 2017, Arada has since launched three communities in Sharjah. Its first project, Nasma Residences, became Sharjah’s fastest-selling community.
FTA appeals to tax registrants to benefit from extension
The Federal Tax Authority (FTA) has called on tax registrants to benefit from the Cabinet Decision to extend the grace...The FTA reaffirmed that the Cabinet Decision provided an opportunity for the business sector to benefit from the reduction of the administrative penalties
It said it continues to review and audit the records of tax registrants who have fulfilled the requirements prescribed in the law
Financial scam websites victimize 137,000 Arabs daily
Five different types of financial frauds are prevalent in the Arab world, with 24 criminal methods being used to reach...According to a review of 503 fake adverts, the number of daily visits from potential victims of these fraudulent sites reaches 137,000 per day
The study stated that five different types of financial frauds are prevalent in the Arab world, with 24 criminal methods used to reach the victims
Aldar and EWEC sign clean energy deal
EWEC will supply clean energy to all Aldar owned and managed assets.Aldar has increased its ESG ratings within two major global benchmarks, the Dow Jones Sustainability Index and Sustainalytics.
EWEC is one of the key parties enabling the implementation of Abu Dhabi’s Clean Energy Certificate scheme.
