Sharjah’s real estate sector records $1.49bn in transactions during May
Sharjah, UAE -- Sharjah's real-estate market during May 2025 recorded a total of 8,415 transactions worth AED 5.5 billion. Of...
Business
Leaders warn race for minerals could turn seabed into ‘wild west’
Growing anxiety over Trump's unilateral push to fast-track deep-sea mining in international waters shot to the surface at the opening...
Geostrategy
Science
WTO 2023 to put spotlight on trade role in sustainable future
GENEVA, SWITZERLAND - The WTO’s annual Public Forum 2023 will focus this year on how trade can contribute to a...
- The Forum will examine in particular how the services sector, digitalization and inclusive trade policies can support global environmental goals.
- Sessions at the Public Forum are organized by representatives from civil society, academia, business, government and international organizations.
Business
DEWA, Siemens discusses enhancing cooperation
DUBAI, UAE - MD and CEO of Dubai Electricity and Water Authority Saeed Mohammed Al Tayer discussed the latest advancements...
- DEWA and Siemens discussed the role of smart grids in improving the efficient and sustainable distribution of energy.
- They also discussed ways to enhance collaboration between DEWA and Siemens in the area of smart grid technology.
Geostrategy
Pakistani businessman exports food products to Israel
ISLAMABAD, PAKISTAN - The American Jewish Congress celebrated the arrival of the first shipment of food products from Pakistan to...
- While Israeli authorities and buyers have no issue with direct shipments from Pakistan, officials in Islamabad have not issued any comment.
- The transaction reportedly involved Pakistani-Jewish businessman Fishel BenKhald and three Israeli entrepreneurs.
Business
Bank of Sharjah profit soars
Total equity increased by 7 percent to $930 million.
- The bank maintained a solid capital position, with a regulatory capital adequacy ratio of 11.51 percent and a Tier 1 capital ratio of 10.33 percent.
- Customers' deposits grew by 5 percent to AED 27,773 million ($7,562 million), highlighting the Bank's ability to maintain a solid and loyal customer base
Business
Rising rates boost GCC banking sector’s net margin
The region's banking sector thrives in Q4-2022 with NIMs at multi-year highs and strong lending growth despite global banking crisis,...
- The region's banking sector thrives in Q4-2022 with NIMs at multi-year highs and strong lending growth despite global banking crisis, highlights a report
- The ongoing banking sector crisis in the US and Europe has limited impact on the region as GCC banks' exposure to these parts of the world remains minimal
Business
Weeklong realty deals worth $2.91 billion recorded in Dubai
Dubai, UAE -- A total of 3,035 real estate transactions worth AED10.7 billion ($2.91 billion) were recorded during the week...
- Dubai Land Department said that 158 plots were sold for AED1.27 billion, while apartment and villa sales stood at 2,261, totaling AED5.11 billion.
- The top three sales were a land in Al Khairan First worth AED157.08 million, a land worth AED67 million in Island 2, and a AED59 million land in The World Islands.
Business
Ajman, Italian-Czech Chambers discuss investment, business opportunities
AJMAN, UAE - The Ajman Chamber of Commerce and Industry’s (ACCI) discussed with the Italian-Czech Chamber of Commerce in Milan...
- Ajman Chamber is keen to enhance its international cooperation and diversify its foreign partnerships.
- The Chamber discussed the competitive elements provided by Ajman economy and the investment opportunities available.
Business
Dubai International Boat Show highlights local marine industry’s global appeal
DUBAI, UAE - Dubai International Boat Show 2023 attracted over 30,000 visitors and industry players from across the globe for...
- Owners and clients are increasingly interested in innovative technologies that can create a greener yacht.
- With brands from 60 countries featured at the show, local manufacturers reported increased business.
Business
UAE Central Bank revokes license of Russia’s MTS Bank
Abu Dhabi, UAE -- The Central Bank of the UAE Friday revoked the license of Russia's MTS Bank's, which was...
- The bank said that under its supervision, the operations of MTS bank, which is licensed in Abu Dhabi, would be wound down within six months.
- Revocation of MTS's license comes weeks after it was added to a fresh round of sanctions by the United States and the UK.
Business
Saudi Arabia to host Global Summit of Real Estate leaders
Riyadh, Saudi Arabia -- Saudi Arabia will host the 42nd edition of the Global Real Estate Summit next December in...
- The summit is considered the industry's largest annual gathering, which includes real estate pioneers and CEOs of critical real estate companies from all over the globe
- The global event will hold several sessions, workshops, meetings, and lectures aiming to deal with the challenges of the real estate industry and available investment opportunities
Sharjah’s real estate sector records $1.49bn in transactions during May
Sharjah, UAE -- Sharjah's real-estate market during May 2025 recorded a total of 8,415 transactions worth AED 5.5 billion. Of...
Business
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Saudi GACA issues air carrier, airport classifications for December 2023
RIYADH, SAUDI ARABIA - The General Authority of Civil Aviation (GACA) issued its monthly classification index for air transport service...
Business
China remains world’s largest logistics market in terms of demand
BEIJING, CHINA - The logistics sector in the country achieved steady recovery in 2023 and the country remains the world's...
Business
Bahrain and Slovakia to ramp up cooperation in urban planning
Manama, Bahrain-- Bahrain and Slovakia are looking to ramp up the ongoing cooperation in urban planning and sustainable development. In...
Economy
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Business
AI reshapes UAE’s business strategy, workforce skills
Nearly two-thirds (59 percent) of business leaders in the UAE express their commitment to increasing investments in advanced technology, says...
- Nearly two-thirds (59 percent) of business leaders in the UAE express their commitment to increasing investments in advanced technology, says a latest report.
- The Alteryx survey reveals that 47% of UAE business leaders express concerns about data privacy, 40% about transparency, and 36% about data governance.
Business
Tata Group retains IPL sponsorship rights for record $300m
New Delhi, India - Corporate behemoth Tata Group has again been awarded title sponsorship rights of the Indian Premier League for...
- Tata Group already holds the title sponsorship for the IPL and its sister competition, the Women's Premier League, which staged its first tournament last year
- The IPL attracts cricket's top international stars with bumper salaries, and features 10 sides competing in the sport's hugely popular Twenty20 format
Business
Healthcare industry globally faces data hacking threat
DUBAI, UAE - In an age where data is a cornerstone of modern healthcare, the industry faces an escalating threat...
- The IBM Cost of Data Breach Report reveals that in 2023 the average global cost of healthcare data breach reached $10.93 million.
- In the Middle East, the cost implications of data breach reached $9.18 million in 2023, above the regional average across all sectors.