A dirham and a dream: Matthews Southwest’s Jay French on future of UAE real estate
From an institutional investor-based viewpoint, it is becoming of interest more now than it ever has been. And that's a...
Interview
Investcorp acquires Jianuo
Jianuo is a leading provider of specialty premium components.
- The acquisition represents a continuation of Investcorp’s strategy of investing in and scaling category-leading growth companies with deep engineering and technology know-how
- Operating out of the Shandong Province and China’s Greater Bay Area, Jianuo is a leading provider of specialty premium components used in fast-growing high-end applications
Business
DEWA and Huawei to develop new technologies in electricity, water sectors
Dubai, UAE--DEWA and Huawei are looking to develop new technologies and solutions to boost efficiency and sustainability in the electricity...
- The collaboration between the two entities has resulted in progress in digital transformation, exchanging the best international solutions, experiences and practices
- Saeed Mohammed Al Tayer, MD & CEO of DEWA, noted the progress of the joint projects between the two sides, including Moro’s green data centres
Business
Beyon announces ‘the biggest ever investment’ in digital infrastructure in Bahrain
Manama, Bahrain - Beyon has announced a major investment of more than $250 million in state-of-the-art digital infrastructure in Bahrain...
- Batelco, part of the Beyon group, has joined the Southeast Asia - Middle East - Western Europe consortium, which is building a 21,700 km-long undersea cable system
- The new subsea cable will create a layer of network diversity and resilience for the heavily used routes connecting the Middle East with Southeast Asia and Western Europe
Economy
Iran and Russia look to expand ties in the energy sector
Tehran, Iran-- Iran is looking to deepen energy ties with Russia as the latter is keen to explore and develop...
- Russian Deputy Prime Minister Alexander Novak said that projects to develop oil fields in Iran are underway and new projects are being outlined, "where I expect progress soon"
- Iranian Oil Minister Javad Owji said that the two sides also discussed the construction of nuclear power plants in Iran and other electrical power generation
Economy
Gross banks’ assets vault 2.2 percent to US$1trn in February: CBUAE
Abu Dhabi, UAE--Gross banks’ assets, including bankers’ acceptances, rose by 2.2 percent, from $999 billion at the end of January...
- According to the central bank, gross credit shot up 1.2 percent from $510 billion at the end of January 2023 to $517 billion at the end of February 2023
- It further added that total bank deposits climbed 0.4 percent, from $608 billion at the end of January 2023 to $610.48 billion at the end of February 2023
Economy
Sharjah Chambers reviews efforts to bolster UAE’s food security
Sharjah, UAE-- Sharjah Chamber of Commerce and Industry (SCCI) has reviewed the UAE efforts to achieve and maintain the food...
- The meeting discussed avenues for boosting exports, and explored strategies to monitor international markets in order to support local production
- The participants highlighted the country's advantageous position, its advanced logistics infrastructure, and strong international trade relations
Innovating from jewelry to carpets, Egyptian brands rise
In the era of global mass production, Egypt's once expansive pool of skilled artisans has shrunk, with many young people...
- Experts in the sector say the global appeal of Arab and Islamic designs from other countries shows Egypt could do more to promote its rich, millennia-old artistic heritage
- Artists and artisans in Egypt, the Arab world's most populous country, draw from a history that spans ancient Pharaonic times, the Mamluk, Ottoman and modern eras
Economy
Saudi Arabia ranks 2nd fastest growing tourism destination in world
The kingdom received about 7.8 million international tourists for all purposes during the first quarter of 2023, representing its highest...
- The kingdom also became 13th globally, advancing by 12 places, as one of the top countries receiving international tourists in 2022
- The number of international tourists who visited the kingdom, for all travel purposes, hit 16.6 million in 2022, WTO reported
Geostrategy
Gulf investments fuel Turkey’s economic growth
The GCC is the third largest source of foreign investment in Turkey, with 1,973 Gulf companies currently operating in the...
- The GCC is the third largest source of foreign investment in Turkey, with 1,973 Gulf companies currently operating in the country
- Qatar has emerged as a significant investor in Turkey, with foreign direct investments reaching approximately $10.3bn by 2021 end
Business
UAE ministry hosts discussion on poultry industry, food security
DUBAI, UAE - UAE Ministry of Climate Change and the Environment (MOCCAE) on Tuesday organized the second National Dialogue for...
- The National Dialogue for Food Security, organized by MOCCAE, aims to discuss topics that contribute to enhance food security for UAE.
- The dialogue was also attended by poultry industry experts and representatives of various federal and local government entities.
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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
Company News
ADNOC to buy stake in Fertiglobe
Business
Latest News
ENEC, CNNC sign MoU
Business
India’s stock market edges out Hong Kong to become world’s fourth largest
New Delhi, UAE--India's stock market has edged out Hong Kong to become the world's fourth-largest, a milestone that underscores growing...
Business
Airports fly into technology, security innovations
“The future of travel heavily depends on the transformative power of biometrics and touchless passenger experiences. These innovations aim to...
Business
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Business
IPT Energy floats new firm in Sharjah
It will engage in the import and trading of oil products.
- The new company will be involved in the import and trading of refined oil products, petrochemicals, lubricants, and grease
- It has invested $11m as first stage investment in the emirate and plans to double this investment to $22 million by 2025-26
Business
Macy’s rejects $5.8bn takeover deal
The company also owns the Bloomingdale's store chain.
- Macy's said the proposal "does not constitute a basis to enter into a non-disclosure agreement," with Arkhouse and Brigade
- In a letter to the two firms, Macy's chairman Jeff Gennette said he had "serious reservations" about their ability to finance the deal
Business
ASFAR, Municipality of Al-Ahsa sign agreement
RIYADH, SAUDI ARABIA - ASFAR, the Saudi tourism investment company wholly owned by the Public Investment Fund of Saudi Arabia,...
- The agreement aims to develop a major tourism attraction in the Eastern Province of the Kingdom of Saudi Arabia.
- The partnership between ASFAR and the Municipality of Al-Ahsa is set to transform the Eastern Province’s leisure and hospitality sectors.