Dubai receives 1.77m international tourists in January this year
Dubai, UAE--Dubai welcomed 1.77 million international tourists in January 2024, an increase of 21% compared to 1.47 million visitors in...
Business
AstraZeneca to buy Amolyt for $1bn
It will pay $800 million upfront for the Lyon-based company.
Business
Business
Qatar looks to profit from Europe gas fears over Ukraine
Qatar ruler Sheikh Tamim bin Hamad Al-Thani has the Ukraine crisis, efforts to engage the hardline Taliban administration in Afghanistan,...
- Gas supply is a key area Europe fears could be affected if Russia takes military action in Ukraine
- Australia, Qatar, and the United States are the world's biggest exporters of natural gas used as fuel
Business
TASI starts low; Emirati markets gain
The Emirati indices managed to show gains throughout the week, while the Saudi index was unchanged.
- After a tumultuous session, Saudi Arabia’s main index closed unchanged on Thursday
- The Dubai index advanced 0.5 percent on Thursday, supported by a 1.5 percent jump in NBD Bank
Business
Record real estate deals in 2021 will drive the sector in next 50 years: DLD
The record real estate transactions will contribute to driving the sector in the next 50 years during which the UAE...
- Real estate transactions worth almost AED 300 billion ($81.67 bn) were recorded last year, which is the highest ever in the recorded real estate history of Dubai.
- December 2021, in terms of overall index numbers, was the highest since February 2019 and the highest for index value since August 2018.
Business
Abu Dhabi non-oil trade in 11 months of 2021 totals $51.78 billion
The non-oil trade through Abu Dhabi ports during 11 months in 2021 amounted to AED190.20 billion ($51.78 bn), an increase...
- Imports accounted for AED83.63 billion of the non-oil trade and non-oil exports for AED71.17 billion, an increase of 5.4 percent compared to the same period last year.
- The re-exports were valued at nearly AED35.39 billion, an increase of 10 percent compared to 2020.
Business
Etisalat Group buys out elGrocer DMCC
Emirates Telecommunications Group Company PJSC (Etisalat Group)Â has completed the acquisition of elGrocer DMCC, the company said it a statement.
- Founded in 2015, elGrocer is a leading online marketplace for groceries operating in all seven Emirates of the UAE
- The acquisition of elGrocer will complement Etisalat UAE’s existing marketplace services under the ‘Smiles’ brand
Business
Season 8 of ABB FIA Championship set to kick off in Riyadh
Season 8 of the ABB FIA Formula E World Championship is set to launch in Saudi Arabia, and some of...
- Run under lights at the UNESCO World Heritage Site outside Riyadh, the races will be held in the Kingdom for the fourth time
- The eight season of the ABB FIA Formula E World Championship begins with a double-header in Diriyah, with a new qualifying format, along with the ever-popular Fan Boost
Business
Tunisia allows digital sector firms to bid in convertible foreign currencies
The Central Bank of Tunisia (BCT) has authorized companies operating in the digital sector to bid for public tenders in...
- Bidding allowed for tenders for imported hardware and software in 2022.
- The authorization from the Central Bank of Tunisia came after a 'positive opinion' from the Ministry of Finance.
Business
US judge cancels major oil and gas exploration sale
A US judge on Thursday canceled the sale of oil and gas exploration leases of some 80 million acres in...
- US Federal District Court Judge Rudolph Contreras declared existing contracts invalid
- He said the Department of the Interior did not adequately consider the leases' impact on climate change
Business
Dubai embraces enigma of costliest black diamond
The design of the bloack diamond Enigma is based on the Middle Eastern emblem of the palm — also known...
- The diamond will see a "without price limit" auction, meaning whoever offers the highest proposed price will win it
- Enigma can be dated between 2.6 billion and 3.8 billion years, and its components include nitrogen and hydrogen
Business
Emirates signs new distribution agreement with Amadeus
From 1st February 2022, all trade partners on Amadeus will be able to access Emirates’ content free of surcharge.
- From 1st February 2022, all trade partners on Amadeus will be able to access Emirates’ content free of surcharge
- The new agreement will also see Emirates’ new distribution capability content integrated into the Amadeus Travel Platform
Dubai receives 1.77m international tourists in January this year
Dubai, UAE--Dubai welcomed 1.77 million international tourists in January 2024, an increase of 21% compared to 1.47 million visitors in...
Business
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Qatar realty market trading volume $277 million in August
Doha, Qatar -- Qatar real estate market recorded deals worth QR1.011 billion ($277 million) in the month of August 2023,...
Business
Russia’s Sberbank launches new tourism-oriented services in Iran
Tehran, Iran -- Russia’s largest lender, SBERBANK, is presenting a new service that allows its clients to transfer money to...
Business
Iran receives US$6.7bn foreign investment in May 2023 EXPO, says official
TEHRAN, IRAN - Foreign companies and governments committed some US$6.7 billion worth of investments during an exhibition that was held...
Economy
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Business
Tabreed signs MoU with Indian state
Asia's largest district cooling PPP project in Hyderabad part of deal.
- The cooling infrastructure will potentially reduce over 200MW of peak electricity demand.
- The district cooling agreements are part of Telangana’s vision to become net zero by 2047.
Business
RAKEZ, Indian Economic Trade Organization ink MoU to boost business ties
RAS AL KHAIMAH, UAE - Ras Al Khaimah Economic Zone (RAKEZ) and the Indian Economic Trade Organization (IETO) have signed...
- The collaboration focuses on initiating trade missions and investment forums to help Indian businesses understand what RAKEZ offers.
- The agreement promises customized business services for Indian companies that are tailored to their aspiration of expanding into the MENA region.
Business
UK’s Zencargo ventures into UAE, eyes MENA expansion
Abu Dhabi, UAE - The UAE Ministry of Economy has announced that Zencargo, a UK-based company with expertise in digital...
- The company plans to establish operations in the Emirates with a view to integrating into the UAE’s technology, trade and logistics ecosystem
- Zencargo’s presence in the UAE follows the UAE’s Trade Tech initiative, which was launched in partnership with the World Economic Forum