Saudi Arabia surpasses homeownership goals, sets sights on 70% by 2030
The kingdom's housing program achieves remarkable success, surpassing targets and reducing waiting times from 15 years to immediate entitlement, revolutionizing...Economy
Iraqi Prime Minister unveils action plan to revitalize local banking sector
The Iraqi government, in collaboration with the Central Bank of Iraq, will provide support for local Iraqi banks through foreign...Economy
Qatar Industrial Production index up 2.8 percent in April
DOHA, QATAR- The Industrial Production index (IPI) of Qatar for April 2023 reached 106.4 points which is an increase of...The index of the mining sector showed an increase by 3.2 percent compared to the previous month (March 2023).
For manufacturing the index of this sector showed an increase by 0.5 percent compared to the previous month (March 2023).
ADDED signs pact with Valeo to set up automotive technology hub in Abu Dhabi
ABU DHABI, UAE - Abu Dhabi Department of Economic Development (ADDED) has partnered with Valeo to develop the automotive industry...Valeo plans to explore new areas of development by integrating its advanced technologies and its sustainability vision in green cities.
The agreement to design and manufacture electric and autonomous driving car components will improve smart and sustainable mobility.
Iraq-UK economic ties strengthen on back of uptick in trade
London, UK--Volume of trade exchanges between the UK and Iraq has exceeded one billion dollars and imports and exports between...The Iraqi-British trade exchange saw huge growth, with the commerce volume crossing one billion sterling pounds, and British exports to Iraq surging by 40 percent
The cooperation between Iraqi and British universities has grown in recent years even as the UK has made investments in the social sector and education in Iraq
More than dozen private joint-stock companies list in UAE in 2022
Abu Dhabi, UAE-- The number of private joint-stock companies which listed in the UAE's capital markets during 2022 went up...According to SCA, twelve companies listed on the Abu Dhabi Securities Exchange and one company listed on the Dubai Financial Market
The listing of private joint-stock companies enable them to access a large capital base, besides opening the way to raise a company's brand value
In spite of US sanctions, Iran’s crude oil exports break five-year record
Tehran, Iran-- In spite of the US sanctions against the Islamic Republic, Iran has seen a huge surge in the...China, the world's major importer of energy, has received a big chunk of Iran's crude oil, apart from Germany, Spain and Bulgaria
According to the report, the Iranian crude oil shipments have nearly doubled since last autumn to touch 1.6 million barrels a day
Saudi Arabia scouts Europe for business tie-ups in healthcare, mining sectors
Riyadh, Saudi Arabia-- Saudi Arabia is aiming to establish a slew of business partnerships in healthcare and mining sectors with...In their meetings with CEOs of British companies, the Saudi officials discussed strategic healthcare partnerships, digital transformation and biotechnology
In Germany, the Saudi delegation met with investors and representatives of major companies to explore investment opportunities in the industrial and mining sectors
RAKEZ entices Indian investors with ‘lucrative’ business prospects
Ras Al Khaimah, UAE-- Looking to boost economic cooperation and convince businesses across India to invest in the free zone,...RAKEZ's team met with many business chambers, industry associations, such as the Bombay Industries Association, Federation of Indian Export Organization
Its CEO Ramy Jallad noted with satisfaction the overwhelming response from businesses and startup founders, which showed their high level of interest in Middle East
Dubai records US$3.4bn in weekly real estate transactions
DUBAI, UAE - A total of 3,625 real estate and properties transactions valued at US$3.4 billion (AED12.5 billion) were conducted...The DLD report showed that 189 plots were sold for US$620 million.
The report showed 2,753 apartments and villas were sold for US$1.9 billion.
Mubadala invests $200m in Bicycle Capital
Bicycle Capital is a growth equity firm focusing on startups.Bicycle Capital has received $440 million commitments so far.
Mubadala's $284 billion portfolio is spread across the globe.
Dubai International Chamber opens Europe’s first representative office in UK
DUBAI, UAE - Dubai International Chamber (DIC), one of the three chambers operating under Dubai Chambers, inaugurated on Friday a...The new office will focus its efforts on strengthening relationships with key public and private sector stakeholders.
The office will support UK firms seeking to relocate to expand in Dubai and grow their business through the emirate.
