Innovation, flexibility fuel GCC remote work growth
The UAE especially has become a regional hub for remote work, attracting digital nomads and businesses with its visa programs.Economy
UAE cements position as a top global investment hub in 2024
UAE ascends to 8th on Kearney's 2024 Foreign Direct Investment Confidence Index, affirming its appeal as a prime investment haven,...Economy
Peak in oil demand ‘in sight’ before end of decade: IEA
"The shift to a clean energy economy is picking up pace, with a peak in global oil demand in sight...IEA forecast in its Oil 2023 medium-term market report that annual demand growth would slow sharply over the next five years
Energy prices soared last year after Russia, a major exporter of fossil fuels, invaded Ukraine and cut deliveries of natural gas to Europe
Investments focus as KSA gets Civil Transactions Law
The new law seeks to provide a robust legal framework governing all contracts and transactions, instilling confidence in business sector...The new law seeks to provide a robust legal framework governing all contracts and transactions, instilling confidence in business sector and fostering growth across industries
To ensure fairness and transparency in business dealings, the Saudi law brings clarity and consistency to the legal landscape while increasing the ability to predict judgments
UAE gold forecasted to grow by 3.6% annually through 2030
Dubai, UAE - The UAE's precious metals market, which includes gold, jewelry, gold bars, and silver, is expected to reach...The UAE leads the Middle East in gold consumption, with the country's jewelry sector playing a significant role in this achievement
In 2022, consumers in the country purchased a combined 46.9 tonnes of gold, representing a 38 percent increase from the previous year
UAE consul general visits Albany to foster deeper economic, cultural ties
Albany, New York-- The UAE has reiterated its resolve to strengthen economic and cultural ties with New York and the...UAE's Consul General in New York Amna Binzaal Almheiri reiterated the country's resolve to enhancing ties with the US and New York in trade and culture
In her discussions with trade and cultural bodies, focus was on the partnerships established between the two countries and ways to ramp up joint cooperation
Iraq seizes big haul of captagon pills headed for local market
Continuing with its crackdown against drug traffickers in the country, Iraq security forces on Tuesday said they had taken into...A few months back, Iraqi authorities impounded three million captagon tablets at the border with Syria, a big producer of the drug
In May, the country's security forces said they had seized 12 million benzhexol pills, a pharmaceutical drug also taken recreationally
Dubai records 78% realty sector YoY growth in MayÂ
Dubai, UAE: Dubai's property sector has witnesses a 78 percent increase in sales volume in May 2023 when compared to...Recent data indicating a 78% increase in sales volume in May 2023 when compared to the same period one year ago
11,700 real estate transactions were logged last month, an almost double bump from the 6,587 sales that were registered in May 2022
UAE aims to drive sustainable development with its new policy on energy market
Dubai, UAE-- The UAE has set its sights on regulating the energy providers market as a step toward developing the...The new policy looks to increase investments in the energy sector, modern technologies that will provide long-term economic and environmental benefits
The minister emphasized the policy's role in bolstering the UAE's sustainability solutions to drive climate change mitigation efforts and enable integration between stakeholders
Saudi Arabia climbs to 13th rank on IATA air connectivity index
Riyadh, Saudi Arabia-- Saudi Arabia vaults to the 13th position on the air connectivity index of the International Air Transport...The kingdom rose by 14 places in the ranking that includes more than 200 countries, and it clocked highest connectivity level by linking up 131 destinations
Saudi Arabia has recorded 42 percent growth in the number of passengers during the first four months of 2023 as against the same period last year
Regulating energy providers crucial for sustainability
“The new policy will contribute to the UAE’s GDP and help achieve financial returns that amount to AED21.5 billion (US$5.85bn)...UAE enforces policy to regulate energy providers, boost infrastructure, and foster investments, innovation, and modern technologies in the sector, says energy minister Al Mazrouei
The new policy outlines contractual frameworks and public-private partnerships, targeting energy and water consumption reduction, carbon footprint, and building operational costs
Diversification, global investment key to UAE’s growth
The Gulf nation is strategically establishing comprehensive economic partnerships with various countries in bid to diversify its economy and encourage...The Gulf nation is strategically establishing comprehensive economic partnerships with various countries in bid to diversify its economy and encourage global investments
As of June 2023, the UAE has entered into five such agreements, notably with Israel, India, Indonesia, Turkey, and Cambodia, with plans to sign three more in the first phase
