Abu Dhabi real estate transactions reach $4.69bn in Jan, Feb 2025
Abu Dhabi, UAE -- Real estate transactions in Abu Dhabi reached AED17.24 billion ($4.69 billion) in the first two months...
Business
Business
Reliable Engineering opens plant
The production unit was inaugurated at Hamriyah Free Zone in Sharjah.
- The new facility, which covers an area of more than 150,000 sq feet, caters to the needs of the oil and gas, marine, and oil and wind farming sectors.
- The production lines manufacture up to 500 metric tons of steel per month, by more than 160 employees and specialized technicians.
Economy
Dubai Customs issues authorization certificates to free zone companies
Dubai Customs provides the services and facilities to licensed companies in the free zones of the Emirate to boost investments...
- Dubai Customs facilitates procedures to determine the value of the goods imported by the free zone companies.
- It provides services and facilities to licensed companies in free zones to boost investments and attract more investors.
Economy
Abu Dhabi Foreign Experts Court examines 200 cases
The Foreign Experts Court of the Abu Dhabi Judicial Department (ADJD) has managed to maintain high adjudication rates in the...
- The Foreign Experts Court has achieved a 90 percent disposition rate out of a total number of about 200 commercial cases.
- The panel of the Foreign Experts Court consists of a single judge and two foreign experts.
Business
Saudi to build world-class mining business in cooperation with South Africa
Riyadh, Saudi Arabia-- Saudi Arabia's Deputy Minister of Industry and Mineral Resources for Mining Affairs Khalid bin Saleh Al-Mudaifer said...
- Saudi Arabia expects its mineral wealth to exceed $1.3 trillion as it plans to triple spending on exploration of metals over the next three years.
- Saudi deputy minister Khalid bin Saleh says the two countries will focus on quality of the projects.
Geostrategy
Saudi Arabia and S. Africa to deepen ties in several fields
The agreement would result in partnership in encouraging direct investment, communications and information technology, exploring the establishment of a joint...
- An agreement was signed between the two countries during the presence of Saudi's Crown Prince & Prime Minister and South Africa's President
- The agreement contains cooperation and exchange of news between the Saudi Press Agency (SPA) and the state-run South African News Agency.
Economy
GCC and UK hold first round of talks on Free Trade Agreement
The British government said the Free Trade Agreement is a major economic opportunity and plays a key role in the...
- The two sides discussed Free Trade Agreement's goals and the exchange of technical information in 29 areas.
- More than 100 British negotiators representing different sides of the British government participated in the round.
Business
GCC chemical companies lesser exposed to market risks than their European counterparts
Chemical companies in the Gulf region are likely to cope relatively well with the current stresses of rising rates and...
- Chemical companies in the Gulf region are likely to cope relatively well with the current stresses of rising rates and higher energy costs, says a recent report.
- Market conditions for commodity chemical companies have improved notably over the past 15-18 months on the back of rising oil prices, it adds
Economy
TotalEnergies’ workers pledge to continue their strike
The hard-left CGT union, which launched the industrial action three weeks ago, said that workers at three TotalEnergies sites had...
- Four of France's seven refineries and one fuel depot were out of action, after strikers rejected a pay offer from the hydrocarbon industry leader.
- The blockages have caused queues outside petrol stations, and worry across all sectors of the economy, from mobile healthcare workers to farmers.
Economy
WFP calls for action to avoid another year of record hunger
UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri said that the crises facing the world today...
- The UAE has launched the Agriculture Innovation Mission for Climate (AIM for Climate) in partnership with the US.
- The objective is to raise investments worth US$8 billion in sustainable and climate-smart agrifood systems based on modern technologies.
Market Report
Saudi TASI plummets, UAE indices show mixed trends over the week
The UAE stock market followed the trend of other markets worldwide and ended the week on a high note but...
- A 5.2 percent gain in Multiplay Group's share price, a 3.3 percent increase in Aldar Properties' share price pushed the Abu Dhabi index up 0.9 percent on Friday (October 14).
- The Dubai index rose 0.8 percent on Friday (October 14, 2022), led by the gains in the real estate and banking sectors.
Abu Dhabi real estate transactions reach $4.69bn in Jan, Feb 2025
Abu Dhabi, UAE -- Real estate transactions in Abu Dhabi reached AED17.24 billion ($4.69 billion) in the first two months...
Business
Company News
Ford lays off 300 US workers
Business
Adnoc Gas awards contract
Business
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Sonatrach sacks CEO
Business
58% of firms in Saudi Arabia plan to outsource cybersecurity
RIYADH, SAUDI ARABIA - Company bosses are boosting their cybersecurity following an alarming increase in cyberattacks, a new study commissioned...
Business
CBUAE, Islamic finance organizations discuss sustainable practices
ABU DHABI, UAE - The Central Bank of the United Arab Emirates (CBUAE) hosted several events with Islamic finance infrastructure...
Business
14 financial giants confirm expansion into Abu Dhabi: ADGM
Abu Dhabi, UAE -- Abu Dhabi Global Market (ADGM), a leading international financial center of the UAE’s capital, Thursday announced...
Business
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Business
Abu Dhabi positioned in world’s fastest-growing economic corridor: Official
Abu Dhabi, UAE -- Dr. Karim El Solh, Co-Founder and Chief Executive Officer at Gulf Capital, said Thursday Abu Dhabi...
- He added that Abu Dhabi Finance Week took center stage, drawing policymakers, financial leaders, and investors worldwide.
- El Solh underscored Abu Dhabi's newfound status as the go-to investment gateway in Asia for many global and regional investors.
Business
Saudi consumer spending up 4 percent in October: SAMA
Riyadh, Saudi Arabia -- Consumer spending in Saudi Arabia increased 4 percent to SAR 110 billion ($29.32 billion) in October,...
- Consumer spending includes total cash withdrawals, point-of-sale (POS) transactions and e-commerce sales through "Mada", Argaam reported.
- Cash withdrawals from ATMs declined by almost 3 percent YoY to roughly SAR 45.5 billion in October.
Business
Dubai Taxi IPO raises US$315m
It received more than US$41 billion in investor orders.
- The IPO will result in total gross proceeds of approximately US$ 315 million being paid to the Department of Finance, representing the Dubai government
- DTC said the previously announced offering size consists of a total of 624,750,000 shares, equivalent to 24.99% of DTC’s total issued share capital