Business
Azizi sells 35% Creek Views II units
The 587-residence project is scheduled for handover by Q4.
- Nearly 18 percent of the units have been acquired by UAE investors, 11.61 percent by Indian nationals, and 6.25 percent by both Jordanian and Russian investors.
- Other nationalities who have invested in units at Creek Views II include German, English, Bangladeshi and Dutch passport holders, among others.
Business
First phase of ‘Sustainable City’ project sells out in a day
Abu Dhabi, UAE-- Aldar Properties and Diamond Developers have sold out the first phase of its project dubbed Sustainable City...
- Sales at the first phase of the sustainability-centric community reached over $272 million
- A total of 512 homes were available during the first phase of the project, with 76 percent of the units purchased by expatriates, of which 24 percent were overseas investors
Business
Qatar, Cambridge University ink MoU to develop genome project
The project is a collaboration to develop and support an open information structure that will facilitate the comparative analysis of...
- The project is a collaboration to develop an open information structure that will facilitate the comparative analysis of financial regulations across jurisdictions
- Under the MoU, QFCRA and CJBS-RGP aim to enhance the use and usefulness of data in regulating the financial services industry
Business
Qatar and EU discuss ways to enhance economic and trade ties
Doha, Qatar-- Qatar and European Union have discussed means to enhance economic and commercial relations in a meeting between Qatar...
- The two discussed the private sector's role in activating trade and investment exchange.
- Al Kuwari noted that there are mega Qatari investments in a number of European countries such as France, Germany, and others.
Business
Dubai realty sector posts record sales in 2022
Real estate sector experts say facilities like Golden Visa were fueling expatriate interests in owning a property in the emirate.
- market experienced a record-breaking performance in 2022 in terms of sales, volume and value, according to media reports.
- For luxury properties, the market registered an increase in growth by 97 percent in terms of value and 85 percent in terms of volume, reports said.
Geostrategy
CBUAE, Egyptian Banking Institute discuss training, cooperation
ABU DHABI, UAE - The Central Bank of the UAE (CBUAE) and the Egyptian Banking Institute (EBI) which is under...
- CBUAE and Egyptian Banking Institute reviewed the prospects to enhance cooperation and exchange information.
- They also discussed supporting professional capabilities-building and expertise development.
Geostrategy
Dubai Customs makes 25.7m transactions, above 2100 seizures in 2022
Dubai, UAE-- Dubai Customs has completed 25.7 million customs transactions and made 2,147 seizures in 2022, while also winning several...
- Dubai Customs dealt with 388 intellectual property disputes in 2022, which included 14.5 million counterfeit items with a street value of AED 109.5 million.
- It was active in recycling counterfeit goods with more than 93 recycling operations taking place throughout the year that targeted 173,000 counterfeit items.
Economy
Investments in Jordan industrial estates rise 19 percent in 2022
AMMAN, JORDAN - Investments in industrial estates in 2022 hit US$4.2 billion (JD3 billion), an increase of 19 percent compared...
- Jordan Industrial Estates Company said that 27 of the new investments were in the service sector, with a growth rate of 26 percent.
- The remaining 147 new investments were in the industrial sector, with a growth rate of 7 percent over the previous year, JIEC said.
Geostrategy
Muslim world condemns burning of copy of Quran in Swedish capital
Secretary-General of the GCC Dr. Naif Falah Mubarak Al-Hajraf has warned that the act would inflame and provoke Muslims around...
- Secretary-General of the Organization of Islamic Cooperation Hissein Brahim Taha said the act is another example of Islamophobia and Xenophobia.
- Arab Parliament called on the international community to assume its responsibilities and criminalize these unacceptable acts, which fuel feelings of hatred and violence.
Business
Musk announces more expensive subscription for ad-free Twitter
The recent announcement of Twitter updating its services would be a radical change in business model from Twitter, which has...
- The announcement comes as the social network has faced major economic uncertainty since its takeover by Musk in October
- Musk-led Twitter has been riven by chaos, with mass layoffs, the return of banned accounts and the suspension of journalists critical of Tesla boss
Company News
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Invest Qatar launches azure open AI GPT-powered chatbot ‘Ai.SHA’
DOHA, QATAR - The Investment Promotion Agency Qatar (Invest Qatar) has partnered with Microsoft to develop Ai.SHA, an innovative AI-powered...
Business
IHC announces formation of 2PointZero – a next generation holding company
ABU DHABI, UAE - The International Holding Company (IHC) announced the initiation of the transfer of 2PointZero, a next generation...
Business
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Business
Europe stocks rise, Asia tepid as oil jumps and Bitcoin shines
Following record highs in 2023 for the likes of Paris, Frankfurt and Tokyo, investors are predicting more gains as central...
- Bitcoin broke $45,000 for the first time since April 2022 on optimism that the United States would allow wider trading of the world's biggest cryptocurrency.
- Despite the upbeat outlook on rates, Asian markets started the year with little fanfare. Hong Kong and Shanghai each extended last year's losses
Economy
China’s new tariffs policy to hasten industrial transformation
Beijing, China -- China's import and export tariff adjustments on some goods took effect on Monday, including implementing provisional import...
- China lowered import tariffs on resources and NEVs, aiming to enhance competitiveness and secure supplies.
- Tariffs on medicines and food for medical purposes were cut, reflecting a focus on health and consumer needs.
Business
flynas flies over 11m passengers in 2023, up 28 percent from 2022
RIYADH, SAUDI ARABIA – flynas reported record results for its performance in 2023 compared to the previous year 2022, with...
- The low-cost carrier has taken delivery of 19 new aircraft during 2023, upscaling fleet size to 64, a rise of over 35 percent.
- flynas launched 57 new destinations and increased seat capacity by 22 percent for domestic and international flights in 2023.