China manufacturing shrinks in August despite new US trade truce
Beijing, China -- China's factory output ticked up in August but still recorded a fifth straight month of contraction, official...
Economy
Ajman records real-estate deals worth $381 million in July
Ajman, UAE -- Real estate transactions valued at AED 1.48 billion ($381 million) were recorded in Ajman in July 2025....
Business
Dubai records $3.72 billion in weeklong real estate transactions
Dubai, UAE -- A total of 3,626 real estate transactions worth over AED 13.7 billion ($3.72 billion) were conducted during...
- The DLD report showed that 618 plots were sold for AED 6.19 billion, while 2,410 apartments and villas were purchased for AED 5.63 billion.
- The top three transactions were three lands in Al Goze Second sold for AED 68.12 million, AED 67.92 million, and AED 67.56 million.
Business
ACWA Power awards contract for $677m Saudi desalination project
Riyadh, Saudi Arabia:Â Saudi energy and water desalination developer ACWA Power, along with Haji Abdullah Alireza & Co (HAACO) and Al...
- The engineering, procurement and construction (EPC) contract was signed with a consortium of Power China, SEPCOIII, and WETICO.
- ACWA Power currently operates the Rabigh 3 IWP in the same area, the first desalination plant of its size in the private sector.
Business
Burberry sales jump on China boost
Group sales grew 18 percent to $772 million in its Q1.
- The performance was buoyed by a 46-percent surge in Chinese purchases of items including Burberry's handbags and famed trench coats.
- Despite the upbeat trading update, Burberry's share price dipped 0.2 percent to £21 on the rising London stock market.
Business
Four Gulf sovereign wealth funds among world’s top ten
Abu Dhabi Investment Authority ($853 billion) and Kuwait Investment Authority ($803 billion) ranked fourth and fifth respectively, while Saudi Arabia's...
- PIFs assets reached SAR 2.635 trillion $700 billion in June, increasing by $50 billion, compared to $650 billion in April.
- With assets of over $475 billion, Qatar Investment Authority ranked 10th, according to SWF Institute data.
Economy
UAE and Mozambique sign MoU to improve ‘work cycle’ for workers
Dubai, UAE--The UAE and Mozambique have signed a memorandum of understanding (MoU) in the field of workforce to improve the...
- The UAE minister said the MoU establishes an institutional partnership between the two ministries to maximize mutual benefits
- He said the UAE government is keen to build partnerships around the world, which, he feels, builds trust in the country's labor market
Economy
Dubai Customs and Japan’s consulate discuss expansion of trade ties
Dubai, UAE-- Officials from Dubai Customs and Japan's consulate have discussed ways to boost trade cooperation between the two countries...
- The officials noted how collaboration with Dubai was enabling Japan's traders and investors to expand their businesses in Dubai
- The consulate officials conveyed their appreciation for Dubai Customs' role in combating drug smuggling across borders
Economy
Abu Dhabi crown prince reviews progress of government projects in emirate
Abu Dhabi, UAE-- The Crown Prince of Abu Dhabi and chairman of the Abu Dhabi Executive Council Sheikh Khaled bin...
- The crown prince stressed the need for investing in early education and how it is integral to building a "future-ready generation"
- In the meeting he noted the importance of achieving a fully integrated and sustainable roadmap, involving all stakeholders
Business
ExxonMobil to buy Denbury
ExxonMobil will acquire Denbury for $4.9 billion.
- The all-stock acquisition provides ExxonMobil with Denbury's carbon dioxide pipeline network in Texas, Louisiana and Mississippi.
- Oil companies have championed carbon sequestration as a major response to climate change.
Business
Pressure on Beijing to unveil stimulus measures as exports tumble
Customs spokesman Lyu Daliang also pointed to outside forces having a "direct impact" on Chinese trade, with Beijing engaged in...
- The 12.4 percent drop released by the General Administration of Customs was an acceleration from May's 7.5 percent.
- Imports also fell 6.8 percent over the same period, reinforcing concerns about softening domestic demand.
Business
Dubai records $980m in real estate transactions: Land Department
DUBAI, UAE -- Dubai real estate market recorded deals worth AED 3.6 billion on Thursday, Dubai Land Department data shows....
- The deals included 712 sales transactions worth AED3.38 billion, in addition to 112 mortgage deals of AED200.32 million, and 22 gift deals amounting to AED41.39 million.
- The mortgages included 99 villas and apartments worth AED184.19 million and 13 land plots valued at AED16.14 million.
China manufacturing shrinks in August despite new US trade truce
Beijing, China -- China's factory output ticked up in August but still recorded a fifth straight month of contraction, official...
Economy
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Masdar, 3 firms sign agreement
Business
WTO approves services trade rules, overcoming objections
The set of rules will streamline authorization requirements and ease procedural hurdles faced by businesses, according to a press release....
Geostrategy
Rat on a plane sparks worries for Sri Lanka’s airline
Colombo, Sri Lanka - Sri Lanka's national airline on Tuesday blamed a rat for grounding a plane for three days, sparking...
Business
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Business
Middle East and Africa smartphone shipments surge 30% YoY in Q4 2023
Dubai, Riyadh - Smartphone shipments in the Middle East and Africa (MEA) region witnessed a remarkable surge, growing by 30%...
- For the entire year of 2023, smartphone shipments in the MEA region increased by 11% YoY, reflecting an upward trend in consumer sentiment
- The MEA region demonstrated the highest YoY growth globally during this period, attributed to improved economic conditions and rebounding consumer demand
Business
IHC posts net profit of US$8.97bn
Its revenue jumped to US$16.33 billion, a rise of 17.9 percent.
- IHC's earnings per Share (EPS) saw huge growth, more than doubling from AED 6.81 to AED 12.55
- Its revenue jumped to $16.33 billion, a jump of 17.9 percent from the previous year's $13.85 billion
Business
Digital innovation spurs gender parity in Middle East
Technology, from digital platforms to AI, offers a transformative avenue for empowering women, says Isabel Neiva of Kearney Middle East...
- Technology, from digital platforms to AI, offers a transformative avenue for empowering women, says Isabel Neiva of Kearney Middle East & Africa.
- She adds that technology is enhancing access to education, employment, and entrepreneurship opportunities beside health and well-being for women.