US says Boeing can be prosecuted for 737 MAX crashes
San Francisco, United States - The US Justice Department on Tuesday said Boeing can be prosecuted for two subsequent 737 Max...
Business
Huawei H1 revenue at US$43.3bn
Business
ADNIC net profit $55.64m
Business
Gaza truce talks resume in Egypt, without Israel for now
Mediators from Qatar, Egypt and the United States have been waiting for Hamas to respond to a proposal that, according...
Business
Economy
UAE’s trade surplus with GCC countries at Dh135 bn in 2021
The figures showed a 26 percent increase in trade between the UAE and GCC countries in 2021.
- The figures showed a 26 percent increase in trade between the UAE and GCC countries in 2021
- UAE imports from GCC countries in 2021 rose in value to AED56.3 billion, weighing 27.9 million tonnes
Economy
Sustainability meets affordability at smart UAE homes
With proliferation of smart home technology and advanced Wi-Fi connectivity, a smart home is achievable to anyone, says Sharjah Sustainable...
- With proliferation of smart home technology and advanced Wi-Fi connectivity, a smart home is achievable to anyone, says Sharjah Sustainable City CEO Yousif Ahmed Al-Mutawa
- The UAE is proactively embracing digital technologies to promote sustainability and ensure that GCC remains well-positioned to evolve into a power-packed digital 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
US says Boeing can be prosecuted for 737 MAX crashes
San Francisco, United States - The US Justice Department on Tuesday said Boeing can be prosecuted for two subsequent 737 Max...
Business
Company News
Huawei H1 revenue at US$43.3bn
Business
ADNIC net profit $55.64m
Business
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EIH gives $27.2m dividend
Business
QAMCO’s H1 net declines 60.7%
Business
Dubai’s top 10 land deals in 2023 is worth US$2.3bn
DUBAI, UAE – A real estate brokerage based here has compiled the 10 largest land deals in the Emirate since...
Business
Emaar EC and Orascom to develop tourism destination
Dubai, UAE -- Emaar, The Economic City, the master-developer of King Abdullah Economic City (KAEC), has signed a strategic agreement...
Business
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Business
EasyLease Q3 revenue $57.66m
It's net profit was AED 26.5 million ($7.21m) in Q3 2023.
- it's net profit was AED 26.5 million ($7.21m) in Q3 2023, compared to AED 32.73 million ($8.91m) YoY over Q3 2022.
- Cost-effectiveness, exceptional maneuverability and expedited travel, are driving the popularity of two-wheelers in the UAE.
Business
Mawani, SGP ink US$266m pact
The aim is to establish multiple logistics zones in the Kingdom.
- The objective is to establish logistics zones that will enhance efficiency of the sector, improve service quality and generate additional job opportunities.
- This initiative is expected to strengthen the role of the logistics sector in supporting the national economy.
Economy
World Investment Forum 2023 ends with call for greater private and public investment
Abu Dhabi, UAE – UNCTAD's 8th World Investment Forum came to a close on Friday in Abu Dhabi with a...
- The week-long event saw the convergence of 8,000 participants, including government officials, international organizations, policymakers, 700 CEOs and investors
- Held against the backdrop of a fragmented global economy, the forum addressed the profound impact on global trade and investment