Dubai receives 3.67 million visitors in first two months of 2024
Dubai, UAE--Dubai received 3.67 million overnight visitors in January-February 2024, with an increase of over 18 percent year-on-year (YoY), figures...
Business
Electric cars credited with lower CO2 emissions in US neighborhoods
LOS ANGELES, US – The booming use of electric vehicles in parts of California is reducing CO2 emissions in those areas,...
Business
Business
Emirates NBD, RSA sign agreement
The bank will distribute RSA Middle East's insurance products.
- The partnership will help increase insurance penetration in the region by providing customers with accessible general insurance solutions, the two firms said in a statement.
- The partnership will also focus on customer education and building awareness on the importance of insurance and its living benefits in everyday life, the statement added.
Business
Dubai records $1.96 billion in weeklong real estate transactions
A total of 2,043 real estate transactions worth AED 7.2 billion ($1.96 billion) were conducted during the week ending 20...
- A total of 228 plots were sold for AED1.14 billion, while 1,328 apartments and villas were sold for AED3.58 billion.
- The amount of mortgaged properties for the week was AED2.28 billion, with the highest being a land in Al Muteena, mortgaged for AED 461 million.
Business
Australian businesses in UAE grew six fold since 2004: Governor General
Australian businesses in the UAE grew six fold and the number of Australians in the Emirates nearly four fold since...
- The number of Australians rose from 4,000 in 2004 to around 15,000 in 2022, said David Hurley.
- Wollongong University opened the first Australian international university in Dubai and other universities followed the suit, he said.
Business
Dubai sees increased trade through commercial wooden dhows in Q1
Dhows coming from outside the country have been given direct access to local markets, including through Deira Wharfage and Al...
- Dhows coming from outside the country have been given direct access to local markets, including through Deira Wharfage and Al Hamriyah Port.
- This has been done to implement the directives of Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai
Business
Airports enhancing technology to thwart threats: Brigadier Alameri
In the face of security threats, airport authorities are enhancing technology-based end-to-end solutions in order to detect and mitigate security...
- Brigadier Alameri said, "technology and old methods like K9 are playing key role in security and detection of explosives or drugs around the airports
- Buti Ahmed Qurwash, Vice President Security, Dubai Airports, focused on the recent critical development in airport security that are being rolled out across airports globally
Business
Abu Dhabi National Oil Company announces three new oil finds
Abu Dhabi-based group said the 500 million barrels of oil were discovered at Bu Hasa, Abu Dhabi's largest onshore field.
- Abu Dhabi-based group said the 500 million barrels of oil were discovered at Bu Hasa, Abu Dhabi's largest onshore field
- The second oil find was in Abu Dhabi’s Onshore Block 3, operated by Occidental, with around 100 million barrels of oil in place
Business
Vintage Mercedes sold for $143m at auction
A 1955 Mercedes-Benz, one of only two of its kind, was auctioned off earlier this month for a whopping $143...
- The Mercedes-Benz 300 SLR Uhlenhaut was sold to a private collector, the classic car auction company said in a statement
- The car is one of just two prototypes built by the Mercedes-Benz racing department and is named after its creator and chief engineer, Rudolf Uhlenhaut
Business
IEA calls on G7 to be ‘first movers’ in lowering CO2 emissions
The International Energy Agency (IEA) has said that G7 economies are well placed to be first movers on driving down...
- The IEA believes that the richest nations can set out a path for the rest of the world for this essential part of the transition to clean energy systems
- G7 members account for around 40% of the global economy, 30% of energy demand and 25% of energy system CO2 emissions
Business
Hive mind: Tunisia beekeepers abuzz over early warning system
In Tunisia the beehive sector employs some 13,000 people and produces some 2,800 tonnes of honey.
- In Tunisia the beehive sector employs some 13,000 people and produces some 2,800 tonnes of honey
- The SmartBee app offers more than an early warning system and the data it collects also tells beekeepers about the productivity of each hive
Business
Smart money is in video games, Web3: Futurist at TOP CEO event
Raford contended that people should invest in video games, as it is the only successful digital economy so far.
- Raford contended that people should invest in video games, as it is the only successful digital economy so far
- The metaverse, he said, has extraordinary potential and Dubai is moving rapidly to take advantage of it
Dubai receives 3.67 million visitors in first two months of 2024
Dubai, UAE--Dubai received 3.67 million overnight visitors in January-February 2024, with an increase of over 18 percent year-on-year (YoY), figures...
Business
Company News
Estithmar H1 profit rises 3.7%
Business
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Adidas posts $92m Q2 profit
Business
Rolls-Royce to cut 2,500 jobs
It will cut six percent of its staff to build a leaner company.
Business
UAE Minister Al Gergawi backs ‘curiosity’ and ‘equity’ at World Economic Forum
Dubai, United Arab Emirates – Considering opposing views, exchanging ideas and developing pathways for collaboration are essential to improving lives...
Economy
Egypt sells MENA’s first ‘sustainable panda bonds’ in US$500m issue
Cairo, Egypt--Egypt has issued the first sustainable Panda bonds in the Middle East and North Africa worth $500 million with...
Business
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Economy
UAE invests $36bn in renewable energy projects in 2022, says ADDED Â chairman
ABU DHABI, UAE - Chairman of the Abu Dhabi Department of Economic Development (ADDED) Ahmed Jasim Al Zaabi has said...
- The UAE has successfully enticed a staggering US$23 billion in 2022, up 10 percent from 2021, to be ranked 16th globally in FDI attraction.
- UAE is now the world's fourth-largest recipient of greenfield projects, with nearly a thousand ambitious ventures announced last year.
Business
OERC and Arkan partner to transport raw limestone to UAE
Abu Dhabi, UAE -- Oman and Etihad Rail Company (OERC), the developer and operator of the UAE-Oman Rail Network, signed...
- Oman and Etihad Rail will provide logistics solutions for Emirates Steel Arkan through annual transportation of 4 to 6 million tons of high-quality raw materials to Al Ain.
- This ensures Emirates Steel Arkan can produce and export 2-3 million tons of finished goods to regional markets each year.
Geostrategy
Saudi Crown Prince launches Ardara company to develop AlWadi
Riyadh, Saudi Arabia -- Saudi Arabia's Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud Monday announced the launch of...
- This will be Ardara’s first development and will become a vibrant urban center and tourist destination for both local and international visitors, PIF said.
- AlWadi in Aseer region – meaning, the valley – will span 2.5 million square meters and will be developed with sustainability at its core.