IOTA Foundation launches US$10m investment fund at Investopia 2024
ABU DHABI, UAE – Minister of Economy and Chairman of Investopia Abdullah bin Touq Al Marri attended the unveiling of...
Business
Turkmenistan to supply 2bcm gas to Turkiye: Turkish minister
Ankara, Turkey - Turkish Energy and Natural Resources Minister Alparslan Bayraktar announced on Friday the signing of a memorandum of...
Economy
Business
Number of educational firms in Ajman Free Zone grew by 17 percent in 2021
The number of registered educational companies within the Ajman Free Zone (AFZ) grew by 17 percent in 2021 compared to...
- Ajman Free Zone is home to more than 240 educational facilities in 2021.
- AFZ attributed the growth to its strategic location, modern facilities and infrastructure, innovative and seamless services.
Business
Dubai real estate market posts sales worth $248m
Dubai’s real estate market recorded 368 sales transactions worth $247.66 million and mortgage deals of $48.27 million.
- Mortgage deals worth $48.27 million was also recorded in Dubai
- This was in addition to 70 gift transactions amounting to $34.5 million
Infographics
GCC nations see varying CPI in last 5 years
GCC countries have been witnessing a varying degree of change when it comes to Consumer Price Index performance.
- CPI is used to measure the average change in prices — of a fixed basket of goods and services that consumers pay for — over time
- Consumer Price Index also happens to be the one index that is most widely used to measure inflation overall
Business
UAE Chambers, Indian Ocean Rim Association explore enhancing cooperation
Humaid Mohammed bin Salem, Secretary-General of the UAE Chambers said that the UAE's private sector plays a pivotal role in...
- Humaid Mohammed bin Salem, Secretary-General of the UAE Chambers said that the UAE's private sector plays a pivotal role in boosting cooperation with countries of the IORA
- He made this statement during his meeting at Expo 2020 Dubai with the visiting Chair of the Indian Ocean Rim Business Forum (IORBF) Fazal Shaikh
Economy
Remittances: Ukraine flows may rise by 8 percent, Central Asian countries hit
Remittances to Ukraine, which were around 12 percent of its GDP and nearly three times the size of foreign direct...
- Remittances were around 12 percent of Ukraine's GDP and nearly three times the size of foreign direct investment in 2021.
- Azerbaijan, Armenia, Tajikistan, and Uzbekistan received more than 50 percent of their remittance inflows from Russia from Q1-Q3 2021.
Business
Sharjah Entrepreneurship Foundation discusses SMEs funding requests
The Project Finance Committee of the Sharjah Entrepreneurship Foundation (Ruwad) has approved AED300,000 finance for a project that will work...
- The Foundation’s Project Finance Committee approved AED300,00 finance for a health fitness service program.
- The total approved financing by the end of February amounted to AED33 million, of which AED14.4 million were directly financed by the institution.
Economy
Jordan’s real estate trading at JD73 5mn in 2022
The Department of Land and Survey (DLS) revealed that the revenue in the first two months of 2022 stood at...
- The Department of Land and Survey (DLS) revealed that the revenue in the first two months of 2022 stood at JD32.4 million up 15% from the figure reported in 2021
- Overall real estate sales in the Kingdom in the period decreased by 10 percent, as apartment sales declined by 5 percent
Economy
Aluminium, copper prices hit records on Ukraine fallout
Aluminium reached $4,026.50, the first time the lightweight metal had breached $4,000 per tonne.
- Aluminium reached $4,026.50, the first time the lightweight metal had breached $4,000 per tonne
- Commodities have been red hot since Russia's assault on its neighbour, with gold on Monday back above $2,000 an ounce
Economy
Nightmare of underage marriage for Moroccan girls
Rights groups say that marriage of girl child is widespread in remote, landlocked and marginalised areas in the country.
- Precarious livelihoods and long-held traditions in Morocco's backward areas hinder mission of spreading awareness on women's issues
Economy
Jordan commerce chamber says Ukraine crisis will affect market
Nael Kabariti, who is the JCC president, said the Ukraine crisis has led the prices of staples to shoot up.
- Nael Kabariti, who is the JCC president, said the Ukraine crisis has led the prices of staples to shoot up
- Kabariti added that the war has heavily impacted the world basket and disrupted the shipping and export chains
IOTA Foundation launches US$10m investment fund at Investopia 2024
ABU DHABI, UAE – Minister of Economy and Chairman of Investopia Abdullah bin Touq Al Marri attended the unveiling of...
Business
Company News
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UAE witnesses record 2.4m tourists in first six months of 2023
Abu Dhabi, UAE - A record 2.4 million tourists visited the UAE during the first six months of 2023, a...
Business
ADFD finances $105.4m energy security project in Tanzania
ABU DHABI, UAE - The Abu Dhabi Fund for Development (ADFD) has signed a loan agreement with the Government of...
Geostrategy
CBUAE revokes licenses of currency exchange house, commercial broker company
Abu Dhabi, UAE - The Central Bank of the UAE (CBUAE) has revoked the license of Dirham Exchange, an exchange...
Economy
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Economy
Dubai Q1 GDP grows 2.8% on surge in transport, storage sectors
The transportation and storage sector was the biggest contributor to overall growth at 48 percent. This was followed by the...
- Dubai’s growth in Q1 2023 is significantly higher than that of some of the most developed countries in the world. OECD countries recorded seasonally adjusted growth of 1.6%.
- The accommodation and food services sector reported a 5.6 percent growth rate in the first quarter of 2023.
Economy
Residential prices, rents dip across Qatar as World Cup boost dissipates
Doha, Qatar - The residential property market in Qatar is grappling with a dual challenge of decreased demand and increased...
- Lusail's Waterfront and Fox Hills districts have experienced the highest quarterly depreciation in average quoted rents for apartments
- The office market in Qatar is grappling with a challenge of its own, with a widespread drop in average rental rates attributed to an oversupply of office space
Erdogan defends expansion of controversial coal mine
Dramatic scenes have emerged since July 24 when Akbelen forest in the Milas district of the Aegean province of Mugla...
- Turkish President said the power plant needed to continue production with new coal basins as the existing reserves were close to depletion
- Erdogan's comments come on the eve of a special session in parliament, currently on a summer break, to discuss the situation in Akbelen at the request of the opposition