Dubai, Abu Dhabi real estate market thrives in Q1 2024
“2024 has opened up to an interesting and promising phase of growth within our sector. As proptech leaders, we can...Economy Opinion
Saudi Arabia offers 6 mining opportunities for local, international investors
Riyadh, Saudi Arabia - The Saudi Ministry of Industry and Mineral Resources on Wednesday announced six new mining opportunities for...Economy
Air Arabia to double fleet
The plan will boost Abu Dhabi's tourism market.The airline CEO Adel Al Ali said that since tourism is one of the key pillars of the UAE economy, the doubling of fleet will support the current inbound tourism
He added that last year some 15.9 million travelers passed through Abu Dhabi, nearly a threefold increase in the number of visitors from 5.26 million in 2021
Middle East tourism witnesses strong rebound in Q1
Continued economic recovery, ease of travel restrictions, and the growing popularity of the region as a tourist destination have been...Continued economic recovery, ease of travel restrictions, and the growing popularity of the region as a tourist destination have been credited for the sector's resilience
About 235 million tourists travelled internationally in the first three months of 2023, more than double during same period of 2022, highlights the latest UNWTO report
Turkish Airlines ponders buying 600 planes in two months
ISTANBUL, TURKEY - The chairman of Turkish Airlines said Monday that the company will make a final decision on plans for...The airline is in talks with US aircraft maker Boeing and its European rival Airbus to purchase 400 single-aisle planes along with 200 jumbo jets.
If the purchases involves firm orders, it would be the biggest in the history of civil aviation, beating the 470-plane order by Air India in February.
Europe still under inflationary pressure, says ECB head
European Central Bank president Christine Lagarde said that a closely watched measure of eurozone inflation does not appear to have...Headline inflation for the 20 countries that use the euro dipped more than expected to 6.1 percent, from 7.0 percent the previous month.
Underlying -- or core -- inflation, which strips out volatile energy, food, alcohol and tobacco prices -- came in at 5.3 percent in May.
Airlines to fly 4.35bn passengers this year, says industry group
ISTANBUL, TURKEY - Airlines will fly 4.35 billion passengers this year, close to the 2019 record as the industry bounces back...The sector will also be back in the green, with net profits forecast to reach $9.8 billion in 2023.
The association said that its 2022 losses were half as bad as previously estimated at US$3.6 billion.
Turkish inflation dips under 40% for first time in 16 months
Consumer prices rose by 39.6 percent on an annual basis and were almost stable, at 0.04 percent, compared to the...The latter say annual inflation stands at between 105 and 109 percent, depending on whether or not the free gas offer is taken into account.
Erdogan, who is starting a third term in office, has said tackling inflation is a top priority. It exceeded 85 percent in autumn 2022 before starting to slow in Nov.
Qatar, UAE lead GCC in women participation, women catching up in Saudi
Dubai, UAE - Around 70 percent of top-performing teams in the GCC have a higher percentage of women, underscoring the...Saudi Arabia has seen the fastest pace of change, reaching 37 percent female participation in the first quarter of 2023
The survey sheds light on the persisting gender biases and stereotypes that continue to hinder progress towards gender equity in the region
Oman looks to entice investors at Dhahran Expo to its fishing industry
Muscat, Oman-- Looking to entice investors to the country's fisheries sector, Fisheries Development Oman (FDO) is taking part in Saudi...The Omani delegation to the event will showcase investment prospect in the country in areas such as aquaculture, commercial fishing, management of fishing posts
FDO was set up to develop the fisheries industry in the country by investing in profitable projects that could highlight its economic value to investor
Lebanon MPs nominate IMF official for vacant presidency
On Sunday, lawmaker Mark Daou read a statement on behalf of a group of 32 legislators, endorsing Azour after weeks...There have been 11 parliamentary votes to try to name a new president, but bitter divisions have prevented anyone from garnering enough support to succeed Aoun.
Crisis-hit Lebanon has been run by a caretaker government with limited powers since legislative elections in May 2022 resulted in no side with a clear majority
SEWA concludes extension of ‘crucial’ pipeline to supply fresh water
Sharjah, UAE-- In order to supply water from Al Zubair station to Al Shanouf suburb, Sharjah Electricity Water and Gas...Started in July 2022, SEWA employed environmentally-friendly materials to ensure water quality, while catering to the growing demand for freshwater
Residents in Mahdub, Hadibah, and the new sections of Al Shanouf suburb will now have a sustainable supply of fresh and pure water
