UAE’s steady economic rise fertile ground for growth of facilities management
A steady stream of development projects and year-round tourism in the country propel demand for tech-enabled facilities management, says Adnan...
Interview
Pausing production, raising prices: Automakers shift gears after Trump tariffs
Paris, France -- Automakers have already started to adapt to the 25-percent tariff imposed on car imports by US President...
Business
Business
UAE: Total websites registered under .ae reaches 300,000
Abu Dhabi, UAE – The UAE Telecommunications and Digital Government Regulatory Authority (TDRA) announced on Wednesday the registration of more...
- The steady increase in the number of registrants in.ae reflects the importance of the UAE, as a major economic hub in the Middle East
- Examples of international companies that use the .ae domain include, but are not limited to, Amazon and Google
Business
Abu Dhabi Housing Authority to build new homes worth US$1.90bn
Abu Dhabi, UAE--Abu Dhabi Housing Authority has joined hands with Q Holding to build new housing projects in West Baniyas...
- Nearly 1,500 residential villas will build in the West Baniyas, besides other infrastructure such as gardens, public facilities, services, mosque and commercial buildings
- The other housing project in Al Samha will see the construction of 242 residential villas, mosques and retail units and would cost close to US200 million
Interview
Data-driven insights become crucial for GCC govts, businesses for making informed decisions: Urbi CEO
Live and constantly updated data ensure precise navigation, right down to the building level, says the chief of leading provider...
- Live and constantly updated data ensure precise navigation, right down to the building level, says the chief of leading provider of geospatial data and analytical tools in UAE.
- Urbi has launched Urbi CityLens, an AI-powered solution designed to transform city management by providing key data for proactive decision-making and preventive actions
Business
Saudi Arabia’s logistics sector set to reach $15.3 bn by 2030
Riyadh, Saudi Arabia - The logistics sector in Saudi Arabia is poised for remarkable expansion, with its market size projected...
- The surge is an outcome of the efforts made by the Ministry of Transport & Logistics Services (MOTLS) to make the kingdom a global logistics hub and a leading industrial powerhouse
- Leveraging its unique geographical location, which connects Europe, Asia, and Africa, Saudi Arabia is primed to become a vital gateway for facilitating seamless trade
Business
Dubai records realty deals worth $1.38 billion in two days
Dubai, UAE -- Dubai's real estate market recorded real estate deals worth AED 5.1 billion ($1.38 billion) on Tuesday and...
- A total of 500 sales transactions worth AED1.21 billion were recorded on Wednesday, in addition to 103 mortgage deals totaling AED267.86 million.
- On Tuesday, the market recorded 612 sales transactions worth AED2.51 billion, in addition to 126 mortgage deals of AED 613.53 million.
Business
French firm ENGIE’s investments in UAE projects nearly $12 billion
Development and operation of the Mirfa 2 Reverse Osmosis Independent Water Project, and the running of six power and water...
- ENGIE investments in the UAE are spread across multiple strategic and key projects, said Frédéric Claux, Managing Director Flexible Generation and Retail, Africa Middle East Asia.
- These include the development of the Al Ajban Solar PV, water desalination projects, battery storage and green hydrogen production.
Business
Qatar Investment Authority to invest $12.4bn in UK economy: CEO
Doha, Qatar - Qatar Investment Authority (QIA) will invest up to GBP 10 billion ($12.4 billion) in the UK economy over...
- The pledge was made during a meeting with the UK Secretary of State for Business and Trade, Kemi Badenoch, on the first anniversary of the Qatar-UK Strategic Investment partnership
- Badenoch emphasized the shared commitment of the UK and Qatar to drive growth in key industries of the future, such as green technology, and cyber security
Business
AD Ports, Vale to build low-carbon mega hubs for steel industry
Abu Dhabi, UAE -- AD Ports Group and Brazil's Vale, the world's largest producer of iron ore and nickel, sign...
- The agreement will see an allocation of land and related services from KEZAD for the Mega Hub, in addition to the development of a handling facility at Khalifa Port.
- The agreement also includes a maritime collaboration to explore opportunities related to the management and operation of very large ore carriers.
Economy
China scammer uses AI to pose as man’s friend, steal millions
The victim, surnamed Guo, received a video call last month from a person who looked and sounded like a close...
- Guo was persuaded to transfer $609,000 after the fraudster claimed another friend needed the money to come from a company bank account to pay the guarantee on a public tender
- Realising his mistake after messaging the friend whose identity was stolen, Guo alerted police who notified a bank to stop trasaction and he managed to recover his 3.4 million yuan
Business
Tadawul-listed firms report 22% drop in first quarter net profit
Dubai, UAE -- A 22 percent drop in net profit was reported by Tadawul-listed companies in the first quarter of...
- Argaam reported the decline in net profit was due to a drop in Saudi Aramco’s first quarter earnings by more than 17 percent, as well as lower earnings of petrochemical companies.
- The first-quarter results included SAR 5.87 billion one-off gains generated by Kingdom Holding Company (KHC) from selling half of its stake in Four Seasons Holding.
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
UAE’s steady economic rise fertile ground for growth of facilities management
A steady stream of development projects and year-round tourism in the country propel demand for tech-enabled facilities management, says Adnan...
Interview
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Hyundai to sell Russian plant
Business
WEF24: Investor confidence fuels sustainable growth
GFH Financial Group has made significant investments in healthcare, education, logistics, and private lending in Saudi Arabia and the UAE,...
Interview
UAE, KSA lead as tech and energy drive IPOs in GCC
The 2024 outlook for GCC IPO markets shows strong potential with diversified sector participation, bolstered by government support for both...
Market Report
Vodafone Qatar 2023 profit up
The 2023 net profit of Vodafone Qatar increased to $148 million.
Business
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Business
EDGE bags another big order
The group will supply 200 unmanned helicopters to UAE defense ministry.
- The unmanned VTOL systems will be manufactured by Switzerland-based EDGE entity, ANAVIA.
- In November 2023, EDGE acquired a 52 percent majority shareholding in ANAVIA, which manufactures unmanned helicopters.
Business
NEOM announces its new luxury ecotourism destination Zardun
NEOM, SAUDI ARABIA - NEOM's Board of Directors has announced the launch of Zardun - an exclusive resort and natural...
- This move will help in supporting NEOM's efforts to develop luxury ecotourism in the Kingdom.
- Zardun Nature Resort will feature four ultra-luxurious buildings that will blend with the landscape.
Business
UAE plans to issue bonds, Sukuk valued at $1.3bn in Q1 2024, says official
HONG KONG - UAE Ministry of Finance Undersecretary Younis Haji Al Khoori announced that the ministry's issuance of bonds and...
- The Islamic Treasury Sukuk launched in 2023 and valued at US$299 million experienced robust demand, with bids received worth US$2.2 billion.
- The UAE is Hong Kong's largest trading partner in Middle East, with non-oil trade reaching $6 billion (AED22.2 billion) in the first half of 2022.