Thousands of international companies join Dubai Chamber of Commerce in 2023
Dubai, UAE--A study undertaken by Dubai Chamber of Commerce has revealed that Indian investors topped the list of nationalities of...
Business
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
Business
DEWA honors suppliers for ‘commitment to highest standards’
In a virtual ceremony, Dubai Electricity and Water Authority (DEWA) has recognized 41 of its suppliers for their commitment to...
- The suppliers were honored in the Strategic, Principal, and Main supplier categories
- The suppliers said that DEWA provides many opportunities to them according to the highest standards of integrity and transparency
Business
Google and Facebook chiefs made ‘illegal’ deal: US court documents
Top bosses of Google and Facebook were directly involved in approving an allegedly illegal 2018 deal to cement their dominance...
- The records, part of an anti-trust lawsuit by a coalition of US states targeting Google, make serious allegations against Big Tech giants long accused of holding monopolies
- It was the third time the suit was amended, and did not list Facebook or its parent company Meta as defendants
Business
Saudi Customs impound 8.3m amphetamine pills
The Saudi Zakat, Tax and Customs Authority has made a large seizure of Captagon amphetamine pills at Jeddah Islamic Port,...
- The authority explained that the first consignment, which contained onions, was subject to customs procedures and examination through security techniques and police dogs
- Three people were arrested by the General Directorate of Narcotics Control
Business
World’s first ‘experiential food & bar hall’ officially open
A 20,000 ft space, the experiential, urban food and bar hall spans across the UAE’s iconic waterfront destination The Pointe.
- A 20,000 ft space, the experiential, urban food and bar hall spans across the UAE’s iconic waterfront destination The Pointe
- The venue, which seats 600 guests, and 1200 guests at full capacity, offers consumers an exceptional multi-sensory dining experience unlike any other
Business
RAK International Airport is ops base for ActionFlight
The overall deal is expected to help support Ras Al Khaimah’s strategic plans to expand its travel and tourism landscape.
- The collaboration is expected to see RKT become a hub for aerial experiences such as aerobatic flights, skydiving, and hot-air ballooning
- The agreement also means the airport will act as a base for Vertical, ActionFlight’s advanced pilot training program
Business
Dubai saw real-estate deals worth $1.23bn this week
During the week ending January 14, the transactions numbered 1,559, according to the Dubai Land Department.
- A total of 219 plots were sold for AED1.12 billion (around $305 million) in Dubai
- Meanwhile, 1,022 apartments and villas were sold for AED2.25 billion ($612.66 million)
Business
‘Google, Facebook OK’d pact’
Suit says Big Tech giants hold online monopolies
- The records, part of an anti-trust lawsuit by a coalition of US states targeting Google, make serious allegations against Big Tech giants long accused of holding monopolies
- According to the states' accusations, the online search colossus sought to oust competition by manipulating ad auctions
Business
Saudi Arabia seeks to be regional mining force
Saudi authorities seek to promote mining investments and increase its contribution to the GDP to meet the Saudi Vision 2030...
- Saudi Arabia aims to achieve 75 percent localization in the energy sector by 2030
- Saudi mineral wealth value is more than $1.3 trillion, including phosphate and bauxite minerals
Business
Google buys $1bn London office
It is buying the Central St Giles office site, where it is a tenant.
- Google, however, stressed it remained committed to new hybrid working patterns in the wake of Covid-19
- It said it would give the site a multi-million-pound overhaul for flexible working patterns, including outdoor work spaces
Business
Way paved for launch of first Mideast Steigenberger Porsche Design Hotel
Saudi Arabia's Tourism Development Fund has signed an MoU with Deutsche Hospitality, the umbrella brand of the German hotel company...
- Saudi Arabia's Tourism Development Fund has signed an MoU with Deutsche Hospitality, the umbrella brand of the German hotel company Steigenberger Hotels AG.
- Tourism Development Fund provides support to small, medium, and large enterprises and solutions tailored to suit the needs of investors.
Thousands of international companies join Dubai Chamber of Commerce in 2023
Dubai, UAE--A study undertaken by Dubai Chamber of Commerce has revealed that Indian investors topped the list of nationalities of...
Business
Company News
ECI, KazakhExport ink MoU
Business
Latest News
Emirates NBD invests in Komgo
The equity investment was made by Emirates NBD's Innovation Fund.
Business
UAE creates federal authority for gaming, casino giants flock to country
Dubai, UAE - The United Arab Emirates (UAE) has established a federal entity responsible for regulating gaming activities within the...
Business
Tesla, Chinese EV brands jostle for limelight at German fair
Chancellor Olaf Scholz will officially inaugurate the IAA mobility show, held in Germany every two years, on Tuesday. But Monday's...
Business
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Geostrategy
GCC Secretary General praises DCO role in digital transformation of Saudi economy
RIYADH, SAUDI ARABIA – Secretary General of the Gulf Cooperation Council (GCC)Jassem Mohamed Albudaiwi visited the Digital Cooperation Organization (DCO)...
- DCO plays an important role in e-development and helps in enabling countries to keep pace with the rapid growth of the digital economy.
- The GCC Secretary General stressed on the importance of digital cooperation between the regional organization and the DCO.
Business
Global space economy is worth billions, say experts
ABU DHABI, UAE - The global space economy has great potential in terms of economic prospects, with the sector going...
- Several studies by specialised global institutions indicate that the global space sector will be worth over US$1 trillion in the next few years.
- The space economy grew 8 percent in 2022, with its value totalling US$546 billion, and is projected to grow by 41 percent in the next five years.
Business
Iran’s oil output capacity up 40 percent in two years: Oil Minister
Tehran, UAE -- Iran’s oil production capacity has increased 40 percent in two years with the rise in investment in...
- Javad Owji said the daily crude oil output volume reached from the previous 2.2 million barrels of oil per day (bpd) to over 3.1 million bpd.
- The gas production has increased by 40 million cubic meters in the first five months of the current Iranian calendar year (March to August 2023).