Dubai records over US$2.6bn in weeklong real estate transactions
DUBAI, UAE - A total of 3,543 real estate transactions worth over US$2.6 billion (AED9.8 billion) were conducted during the...
Business
Dubai airshow participants optimistic about post-Covid recovery
Technologies, solutions that can help the aviation sector to overcome the Covid-19 crisis showcased Sheikh Ahmed bin Saeed Al Maktoum,...
UAE ranks high on global govt development indices
The first globally on the Absence of Bureaucracy Index The second globally on the Adaptability of Government Policy Index The...
Draft budget for 2022-2026 reviewed
The meeting explored the projections of federal cash flows for 2022 The fiscal policies governing financing of capital projects also...
Innovation hub to make Dubai economy future-ready
The hub is an integral part of the roadmap for an innovation-driven growth in Dubai The facility, a part of...
Fresh call for proactive bid to revive aviation industry at Dubai Airport Show
New technologies recommended to reassure passengers of lasting safety There is talk of issuing a Vaccine Passport to boost global...
S&P forecast: GCC funding needs will fall to 5 percent of GDP in 2021
60 percent of the deficit relates to the region's largest economy, Saudi Arabia S&P predicts central government deficits will reach...
Digital transformation boosts data economy growth in UAE: Report
Data economy on track to become one of the largest economic sectors globally The report suggests stepping up collaboration among...
No jurisdiction to decide Suez Canal claims: Egyptian court
The court refers the dispute between the Suez Canal Authority and Ever Given to a lower court The ship company...
IMF moots coverage of climate change in assessment reports
Action on climate change forms a part of the IMF’s 2021 Comprehensive Surveillance Review A few Directors underline need to...
Double Taxation Agreement between UAE, Jamaica
The agreement will foster cooperation between the tax authorities in the UAE and Jamaica Objectives of the bilateral tax agreement...
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Dubai records over US$2.6bn in weeklong real estate transactions
DUBAI, UAE - A total of 3,543 real estate transactions worth over US$2.6 billion (AED9.8 billion) were conducted during the...
Business
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SRC, Alrajhi sign refinance deal
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Business
Iran-Turkey trade to hit US$15bn on back of private sector cooperation
Tehran, Iran-- Bilateral trade between Iran and Turkey is expected to vault to US$15 billion by 2025 on the back...
Economy
HFZA inks deal with Infinite Mining & Energy to build oil refinery
Sharjah, UAE--The Hamriyah Free Zone Authority (HFZA) has signed a deal with Infinite Mining and Energy to set up a...
UBS set to complete its takeover of Credit Suisse today
The coming months are likely to be "bumpy", warned UBS chief Sergio Ermotti on Friday, adding the integration will come...
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Economy
SEWA holds talks with US consulate to promote innovation for energy solutions
Sharjah, UAE-- The Sharjah Electricity Water and Gas Authority (SEWA) has held talks with a US consulate-general delegation to explore...
- The meeting also touched upon SEWA's initiatives to bring down carbon emissions and fight climate change, besides discussing the upcoming COP28 conference
- The two sides also explored potential partnerships between SEWA and American companies in innovation and sustainable development
Economy
$800bn investments set to bolster Saudi tourism
"The Kingdom will invest more than $800 billion during the next 10 years", added the minister, noting that tourists may...
- Saudi Arabia's tourism sector, fueling a 4.45% GDP growth, is set for an $800 billion investment boost over the next decade.
- Despite the global pandemic, Saudi Arabia welcomed over 93.5 million tourists in 2022, making it the fastest-growing tourism destination
Economy
Saudi tourism sector’s GDP share roars to 4.45%: Minister
The Kingdom will invest more than $800 billion over the next ten years, the Saudi Minister of Tourism Ahmed bin...
- Saudi Arabia’s tourism spending has surged 93 percent in 2022 to reach $49 billion, up from US$25.4 billion in 2021
- The number of tourism-related jobs in 2022 reached 880,000, reflecting an increase of 15 percent compared to the previous year