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ADNOC shifts OMV stake to XRG

XRG is ADNOC's wholly-owned international investment company.

SIB H1 net profit $189m

The bank's total assets increased by $1.49 billion.

TSMC’s H1 revenue up 40 percent

Robust demand for AI technology behind the surge.

‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

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...
  • The data of the real estate analytical bulletin revealed that 350 real estate transactions were recorded during the month.
  • The real estate transactions value index recorded a decline of 27 percent. The traded area index recorded a decrease of 18 percent.

US consumer inflation in Feb up as Federal Reserve mulls rate cut

The annual consumer price index (CPI) came in at 3.2 percent last month, the Labor Department said, while the "core"...
  • The annual consumer price index (CPI) came in at 3.2 percent last month, while the "core" measure stripping out volatile food and energy prices edged down slightly to 3.8 percent.
  • "The index for shelter rose in February, as did the index for gasoline," the department said, both contributed more than 60% of the monthly increase for the overall index.

Baghdad, Tehran in talks to import gas from Turkmenistan

Tehran, Iran - Baghdad and Tehran are currently engaged in negotiations to facilitate the import of gas from Turkmenistan, with...
  • The pact provides for supplying Iraq with 51 million M3 per day, Iraqi minister of electricity Luay Al-Khatteeb said
  • He further noted that the Iraqi Ministry of Electricity has fulfilled all gas-related payments to Iran

Situation in Red Sea has a limited impact on food exports so far, says FAO

ROME, ITALY – The situation in the Red Sea has not yet been reflected in the pace of prices for...
  • The decline in the Food Price Index in February 2024 was led by a decrease in the price for cereals and vegetable oils.
  • The route via the Red Sea accounts for slightly more than 10 percent of the global maritime trade volume.

UAE financial system more secure and efficient than before, says CBUAE

Abu Dhabi, UAE--The technological and structural advancements in the UAE financial sector continues to enhance security, operational efficiency, accessibility of...
  • According to a CBUAE report, the UAE financial system is more secure because of the implementation of technology throughout the economy
  • The number of locally incorporated banks (excluding investment banks), at the end of the fourth quarter of 2023, remain constant at 22 banks

Ajman eyes endowment-driven growth, social solidarity

"Reports with statistics on the number, types, values, and uses of endowments enable us to make appropriate decisions regarding endowment...
  • Ajman's 2023 endowment report reveals $541.6 million across 222 endowments, benefiting education, welfare, and mosque affairs.
  • The latest report notes high trust in endowment management, with 79 percent of endowments managed by related entities.

$2bn earmarked for Saudi real estate by Muslim global HWNIs

Riyadh, Saudi Arabia - Muslim global high net worth individuals (HNWI) are prepared to spend US$ 1.96 billion on real...
  • Makkah (30%) has emerged as the top wish list city by Muslim HNWI for real estate purchases in Saudi, while Riyadh (25%) ranks second
  • Prices in Makkah have risen by an average of 5.5% over the last 3 years, compared to 5% in Madinah over the same period

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...
  • According to a report, the growth is attributed to the increase in investments in transport and renewable energy infrastructure
  • The report added that residential construction captured the highest share of the UAE's construction market last year

Chinese leaders seek ways to boost economy in key event

Beijing, China - China's leaders on Monday wrapped up a week-long key conclave at which they admitted more was needed to...
  • Top officials have been upfront about the myriad challenges China is facing, admitting that a modest five percent growth goal will not be easy
  • The event capped a week of high-level meetings dominated by the economy, which last year posted some of its slowest growth in years

Jafza reports 28% year-on-year growth in 2023 of new Indian companies

DUBAI, UAE – Jebel Ali Free Zone (Jafza) is a major contributor to the growing trade between India and the...
  • Over 190 new Indian businesses and a total of more than 1,500 Indian companies have set up business in Jafza.
  • This move aims to assist Indian businesses in accessing markets across the Middle East, Africa, and Europe.

New WEF report reveals how tech convergence will reshape industries

Geneva, Switzerland – The World Economic Forum today released a new report examining how emerging technology combinations are reshaping industries...

Latest News

Smart cities lead GCC’s IoT boom: NEOM and Smart Dubai in focus

IoT applications are transforming critical sectors such as transportation, where connected vehicles improve traffic management, utilities where smart grids enhance...

Building an anticipatory governance strategy for an increasingly risky world

Anticipatory governance is crucial in navigating today’s risks. While AI tools enhance forecasting, early warning does not always lead to...

Building Smart Cities Starts with Listening to People

Successful smart cities address real challenges, like Mexico City’s digitalization of government services.

Most Read

The backbone of the digital economy is upskilling: Jayney Howson

AI won't replace jobs, but reskilling will unlock its true potential—lifelong learning is the key, Jayney Howson, SVP of Learning...
  • We’re entering a new phase in the relationship between humans and technology, one that thrives on innovation and potential, Jayney Howson tells TRENDS
  • We will see many new jobs and roles emerge, such as “Chief AI Officers” (CAIO), “Prompt Engineers” and “AI Ethicists,” he adds

Logistics: At the heart of economic activity

The global logistics market is expected to be around US$10 trillion in 2024, and is estimated to reach US$21.91 trillion...
  • The logistics market revenue in 2023 was US$485 billion by airways, US$2.85 trillion by waterways, US$2.09 trillion by railways and US$3.52 trillion by roadways.
  • In the Arabian Gulf countries, the focus of the logistics and transport industry is moving from the UAE to Saudi Arabia.

Turkey central bank cuts rate to 42.5% as inflation eases

Istanbul, Turkey - Turkey's central bank on Thursday lowered its key interest rate for a third consecutive time as inflation...
  • This is the third time the central bank cut its rate since December as its efforts to tame inflation are paying off
  • Consumer prices rose by 39.05 percent last month, down from 42.1 percent in January, according to the country's statistics institute