Saudi Ports Authority signs $266.6 million logistics agreements
Dubai, UAE -- Saudi Ports Authority (Mawani) signed seven agreements worth 1 billion riyals ($266.6 million) to establish logistics centres...
OpenAI loses appeal against EU refusal to register its name as trademark
Dubai, UAE -- OpenAI, the owner of the ChatGPT chatbot, lost Wednesday its appeal against the EU's refusal to register...
Business
Business
Sharjah real estate transactions rise 9.3 percent to AED29.5 billion in H1
Dubai, UAE -- Sharjah's real estate transactions rose 9.3 percent year on year to about AED29.5 billion ($8.03 billion) in...
- The Sharjah Real Estate Registration Department said it completed 59,460 transactions during the six-month period, up 23.7 percent from a year earlier.
- Sales transactions totalled 16,426 across 202 areas, covering 85 million square feet, a 4.7 percent increase from the first half of 2025.
Business
DIB H1 net profit $1bn
Gross revenue increased 10% year on year
- Net financing assets grew 7 percent since the start of the year to AED281 billion after the bank extended AED43 billion in new financing during the period.
- Customer deposits rose 2 percent to AED327 billion, while total assets increased to AED423 billion.
Business
Major book publishers sue Google over use of copyrighted books to train AI models
Several major book publishers and authors have sued Google, alleging the technology company illegally copied millions of copyrighted books to...
- The proposed class-action lawsuit was filed on Tuesday in a New York court by Hachette Book Group, Cengage Learning, Elsevier, author Scott Turow and his publishing company, S.C.R.
- The lawsuit also alleged that Gemini can tailor its outputs to imitate the expressive style and creative choices of specific authors.
Business
Ajman real estate transactions reach $2.94 billion in first half
Dubai, UAE -- Real estate transactions in Ajman totalled more than 10.8 billion dirhams ($2.94 billion) in the first half...
- The department recorded 6,815 real estate transactions during the January-June period, according to the Ajman Real Estate Index.
- Trading transactions accounted for 5,435 deals worth 7.64 billion dirhams, while 969 mortgage transactions totalled more than 1.88 billion dirhams.
Business
Turkey’s exports to EU rise 4.7 percent to $55 billion in first half
Dubai, UAE -- Turkey's exports to the European Union rose 4.7 percent in the first half of 2026 to $55...
- EU-bound shipments accounted for a significant share of Turkey's total exports, which increased 3.6 percent year-on-year to $136 billion during the January-June period.
- Germany remained Turkey's largest export destination, receiving goods worth $10.1 billion, followed by Italy at $6.8 billion and Spain at $5.6 billion.
Business
SIB H1 profit up 15.3%
Total operating income rises 20.5 percent.
- Total assets rose 4.7 percent to AED94.5 billion as Islamic financing portfolio expanded and customer deposits continued growing strongly.
- Non-performing financing ratio improved to 3.6 percent while shareholders' equity increased following a AED2.6 billion capital strengthening exercise.
Business
Dubai diamond trade hits record $41.7 billion in 2025, DMCC says
Dubai, UAE -- Dubai's diamond trade rose to a record $41.7 billion in 2025, surpassing its previous high set in...
- Natural diamonds remained the dominant segment, generating $39.9 billion in trade, or 95.8 percent of the total value.
- Trade in natural polished diamonds rose nearly 25 percent year-on-year to $18.7 billion, while rough diamond volumes reached 205.2 million carats.
Business
flydubai Aleppo flights resumed
The flights were resumed after nearly 14 years.
- Scheduled to commence on 20th July 2026, Aleppo becomes flydubai’s second destination in Syria, joining the capital city, Damascus.
- The company said this reinforces the airline’s commitment to opening up previously underserved markets.
Business
DFDF backs MetaProp to boost PropTech investment
Dubai, UAE -- Dubai Future District Fund (DFDF) has committed capital to MetaProp Fund IV LP, making the New York-based...
- Partnership will introduce a Dubai accelerator module linking global PropTech startups with regional investors, developers and real estate stakeholders.
- MetaProp portfolio companies will gain access to DFDF's regional network as Dubai pursues its D33 innovation and diversification strategy.
Business
Lamki: ADNOC’s South Africa acquisition accelerates international growth strategy
Chief Executive Officer ADNOC Distribution Bader Saeed Al Lamki said South Africa was attractive because of its scale and regulatory...
- ADNOC Distribution plans to sell a 28% stake in the business to a local empowerment partner and an employee stock ownership plan in line with South African ownership requirements.
- The acquisition includes Shell Downstream South Africa's network of about 580 company- and dealer-owned fuel stations, together with its wholesale fuel and aviation businesses.
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Saudi Ports Authority signs $266.6 million logistics agreements
Dubai, UAE -- Saudi Ports Authority (Mawani) signed seven agreements worth 1 billion riyals ($266.6 million) to establish logistics centres...
Company News
Bank of Sharjah profit up 39%
Business
Latest News
Musk kicks Kanye West off Twitter for ‘incitement to violence’
West has made a series of anti-Semitic comments recently, as the one-time titan of fashion and music appears to have...
Oman sees hospitality industry revenue fall 3.5%
The National Centre for Statistics and Information says domestic guest have supported the Oman's hotels.
Proof of Covid-19 vaccination, PCR test needed to enter Expo Dubai
Expo 2020 visitors will need a coronavirus vaccination or a negative PCR test to enter, organisers in Dubai has said....
Cyberattack hits hundreds of US businesses
A US IT company urges customers to shut down their servers after the attack UN Security Council members recently warned...
Saudi Arabia to generate $150 billion in investments from its new transport policy
The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private...
DIB H1 net profit $1bn
Business
Major book publishers sue Google over use of copyrighted books to train AI models
Several major book publishers and authors have sued Google, alleging the technology company illegally copied millions of copyrighted books to...
Business
Ajman real estate transactions reach $2.94 billion in first half
Dubai, UAE -- Real estate transactions in Ajman totalled more than 10.8 billion dirhams ($2.94 billion) in the first half...
Business
Turkey’s exports to EU rise 4.7 percent to $55 billion in first half
Dubai, UAE -- Turkey's exports to the European Union rose 4.7 percent in the first half of 2026 to $55...
Business
Most Read
Business
Dubai diamond trade hits record $41.7 billion in 2025, DMCC says
Dubai, UAE -- Dubai's diamond trade rose to a record $41.7 billion in 2025, surpassing its previous high set in...
- Natural diamonds remained the dominant segment, generating $39.9 billion in trade, or 95.8 percent of the total value.
- Trade in natural polished diamonds rose nearly 25 percent year-on-year to $18.7 billion, while rough diamond volumes reached 205.2 million carats.
Business
flydubai Aleppo flights resumed
The flights were resumed after nearly 14 years.
- Scheduled to commence on 20th July 2026, Aleppo becomes flydubai’s second destination in Syria, joining the capital city, Damascus.
- The company said this reinforces the airline’s commitment to opening up previously underserved markets.
Business
DFDF backs MetaProp to boost PropTech investment
Dubai, UAE -- Dubai Future District Fund (DFDF) has committed capital to MetaProp Fund IV LP, making the New York-based...
- Partnership will introduce a Dubai accelerator module linking global PropTech startups with regional investors, developers and real estate stakeholders.
- MetaProp portfolio companies will gain access to DFDF's regional network as Dubai pursues its D33 innovation and diversification strategy.