Qatar real estate trading volume amounts to US$382m in February 2024
DOHA, QATAR – The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at...
Business
UAE construction market soars to $94bn in 2023
Abu Dhabi, UAE--The UAE construction market size was $94 billion in 2023 and the market will achieve an AAGR of...
Economy
Business
Cloud migration: A distant dream in Middle East
Security and lack of IT skills have cast a shadow over the pursuit of digital transformation in the Middle East,...
- The lack of awareness around IT security, access control, and compliance is a challenge for organizations looking to migrate to the cloud
- Connectivity is another issue hindering the migration and one quite specific to the region
Business
Saudi Arabia inks investment deals worth $4bn in Q1
Saudi Arabia finalized investment worth SR15.2 billion ($4 billion) in the first quarter of 2022 and closed 101 investment deal...
- The country finalized 101 investment deals in the first quarter of 2022
- The investments reflect a 225 percent increase from the same period last year
Business
Dubai real estate market records transaction worth $206m
Dubai real estate market recorded 293 sales transactions worth AED 757.33 million ($206 million), including 73 mortgage deals of AED135.94...
- The sales included 264 villas and apartments worth AED507.79 million, and 29 land plots worth AED249.54 million.
- Mortgages included 67 villas and apartments worth AED127.44 million and six land plots valued at AED8.5 million,
Business
ADQ of Abu Dhabi and Jordan set up venture capital fund
ADQ of Abu Dhabi and Jordan have set up a $100 million technology venture capital fund (the Fund) to bolster...
- The Fund will invest in high-growth companies with proven business models, as well as funds primarily focused on Jordan
- With 27 percent of tech entrepreneurs in the MENA region of Jordanian nationality, the country is home to highly skilled talent and more than 600 technology companies
Business
Japan’s Sumitomo will build its largest factory in Egypt
The facility, to be located in the 10th of Ramadan city, will be built over an area of 150,000 sq....
- The facility, to be located in the 10th of Ramadan city, will be built over an area of 150,000 sq. meters, according to a Cabinet statement
- The project, said the managing director of Sumitomo Egypt, Ahmed Magdy, will take a year and a half to be completed and is expected to start operations by 2023 end
Business
More sectors adapt to crypto payments in the UAE
As the number of people in UAE who deal in cryptocurrency rises, sectors like real estate, hospitality and travel have...
- As the number of people in UAE who trade in cryptocurrency rises, several sectors including real estate, hospitality and travel have started accepting cryptocurrencies for payments
- In the UAE, over 54 percent of 18-35-year-old consumers either hold or plan to have crypto assets in the next 12 months
Business
Sharjah sees Dh6bn in real estate deals in Q1
The emirate is currently witnessing the launch of related commercial, industrial and residential projects in various cities.
- The emirate is currently witnessing the launch of related commercial, industrial and residential projects in various cities
- Al Shamsi also highlighted the importance of the acres real estate exhibition, which the Sharjah Real Estate Registration Department organises annually
Business
Twitter agrees to share data with Musk to end standoff
Twitter will yield to Elon Musk's demand for internal data central to a standoff over his troubled $44 billion bid...
- Twitter chief executive Parag Agrawal has said that fewer than five percent of accounts active on any given day at Twitter are bots
- The mercurial Musk agreed to buy Twitter in a $44 billion deal in late April
Economy
UAE Central Bank predicts country’s GDP to grow by 4.2 percent in 2023
The CBUAE projected the real GDP growth to reach 5.4 percent in 2022, after the growth jumped to 3.8 percent...
- In its Annual Report for 2021, the CBUAE estimated the non-oil GDP growth to reach 3.9 percent in 2023.
- The oil GDP growth will reach 5 percent in 2023, compared with earlier estimates of 3.4 percent.
Economy
Stock markets slow as investors weigh recession prospects
The OECD on Wednesday warned that the world economy would pay a "hefty price" for Russia's invasion of Ukraine as...
- European stock markets were lower Wednesday approaching the half-way stage.
- All eyes are on the release of US inflation data for an idea about the future Fed rate hikes.
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Qatar real estate trading volume amounts to US$382m in February 2024
DOHA, QATAR – The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at...
Business
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Major airlines cancel dozens of flights to Tel Aviv
Air France-KLM group's low-cost carrier Transavia announced it was cancelling all flights from Paris and Lyon to Tel Aviv up...
Geostrategy
In a world first, EU gives nod to green bond standards
Brussels, Belgium - European Parliament has adopted a new voluntary standard for the use of a “European Green Bond” label, the...
Economy
Qatar Chamber forms two committees to develop insurance sector
Doha, Qatar - The Qatar Chamber (QC) has established two technical teams to further develop the country’s insurance sector. One...
Economy
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Business
Dubai Customs strengthens partnerships with courier firms to expand e-commerce
DUBAI, UAE - Dubai Customs recently convened an extensive meeting with the courier and express shipping companies, aimed at bolstering...
- Dubai Customs unveiled its cutting-edge e-commerce project, strategically leveraging blockchain technology to streamline supply chain operations.
- It also addressed all queries from participating companies and shared insights into the department's systems in this context.
Economy
FAO raises its forecast for global cereal production in 2023
ROME, ITALY - The Food and Agriculture Organization of the United Nations (FAO) raised its forecast for global cereal production...
- The higher forecast is almost entirely based on recent and more positive yield estimates for the Russian Federation and Ukraine.
- There will be increased wheat consumption while global rice utilization is forecast at 520.5 million tons.
Economy
Circular economy is a critical pathway to build sustainable future: Almheiri
Dubai, UAE-- Terming the circular economy as a critical pathway that builds a sustainable future by preserving natural resources, reducing...
- Almheiri noted that the UAE is keen to promote the circular economy that contributes to sustainable growth through the cooperation of all key stakeholders
- The review meeting took note of the pioneering efforts and actions taken by partners across the UAE to support the country's transition toward a circular economy