Dubai, UAE -- Dubai’s real estate transactions rose 31 percent year-on-year to 252 billion dirhams ($68.6 billion) in the first quarter of 2026, with volumes increasing 6 percent, official data showed, underscoring sustained investor confidence. Figures from the Dubai Land Department showed 718,160 real estate procedures were recorded during the...
EU, New Zealand ink deal to enhance trade by 30 percent in a decade
The European Union and New Zealand signed a free trade agreement which Brussels says can lift exchanges between the two by 30 percent with a decade. The deal, agreed in June 2022 after four years of tough negotiations, is "ambitious", said European Commission President Ursula von der Leyen.
Dubai to expand EV charging points by 170 percent till 2025
DUBAI, UAE- Dubai Electricity and Water Authority (DEWA) aims to grow the city’s network of public charging stations by 170 percent in less than three years, local media reports said. This is in accordance with Dubai's plan to expand its electric vehicle (EV) charging infrastructure. By 2025, EV Green Charging...
UAE says 79,000 Emiratis working in private sector
DUBAI, UAE - Around 79,000 UAE nationals are working in the private sector, the Ministry of Human Resources and Emiratization (MoHRE) revealed on Sunday as the deadline for companies with 50 employees or more to achieve a one percent Emiratization growth in skilled jobs has ended. These numbers reflect the...
Dubai’s RTA digital channels generate revenue of US$953m in 2022
DUBAI, UAE - Director-General and Chairman of the Board of Executive Directors of Dubai’s Roads and Transport Authority Mattar Al Tayer said that RTA recorded 814 million digital transactions in 2022. “In 2022 RTA recorded 814 million digital transactions up from 676 million in 2021, reflecting a robust growth rate...French startup bets on kitesurf to blow away shipping pollution
The shipping sector is under fresh pressure to reduce its reliance on fossil fuels as the International Maritime Organization sealed a deal on Friday that raises its emissions-reduction targets. In Arcachon Bay in southwest France, the startup Beyond The Sea tested a blue inflatable kite sail to pull a specially-designed...Global trade in commodities to expand by 1.3% annually: FAO-OECD report
Paris, France--Global trade in agricultural commodities is projected to expand by 1.3 percent annually - half the pace recorded in the past decade - due mostly to slower growth in demand by middle-income countries, according to a report released by the Food and Agriculture Organization of the United Nations (FAO)...Jordan’s beekeepers make a fortune as demand for honey soars
The kingdom of Jordan prides itself on its 19 different types of honey, including citrus, eucalyptus and maple varieties, depending on which plants the bees pollinate. Jordanian honey sells for 15 to 30 dinars ($21 to $42) per kilogram, depending on the type.
Saudi Arabia and France sign MoU to deepen ties in energy sector
Riyadh, Saudi Arabia--Saudi Arabia and France have signed a memorandum of understanding (MoU) to cooperate in the field of energy, with a focus on renewable resources. In this connection, Saudi Energy Minister Prince Abdulaziz bin Salman and his French counterpart, Agnes Pannier-Runacher, signed the agreement. The two countries released a...Libyan rival leaders to work together for oil income
TRIPOLI, LIBYA- Rivals in politically divided Libya have agreed to form a committee on sharing oil revenues, a move welcomed on Saturday by the UN, after military strongman Khalifa Haftar sought a "fair" split. Haftar, who backs the country's eastern administration, had last Monday called for a committee to address the...
‘Greenhouse gas emissions from agriculture likely to rise by 7.5% in next decade’
PARIS, FRANCE - Greenhouse gas emissions from agriculture are expected to increase by 7.5 percent in the next decade, said a report by the Food and Agriculture Organization (FAO) and the Organization for Economic Co-operation and Development (OECD). The projected greenhouse gas emissions are just less than half the projected...At G20 meeting, UAE urges world to collaborate in scientific research
Mumbai, India--The UAE’s Minister of State for Public Education and Advanced Technology Sarah Al Amiri has urged the global community to collaborate more closely in the field of research and innovation in order to find solutions to international challenges. Addressing ministers at the G20 Research and Innovation Initiative Gathering (RIIG)...Iran emerging as a hub for health tourism in West Asia: Raisi
Tehran, Iran--Iranian President Ebrahim Raisi has claimed that health tourism in the country has attracted patients from neighboring countries and even Central Asian states who prefer to get medical care in Iran rather than in Europe. Raisi made the remarks on Friday as he inaugurated Ghadir Major Hospital in the...
DEWA exhorts customers to adhere to its safety standards
Dubai, UAE--Dubai Electricity and Water Authority (DEWA) has exhorted community members to ensure that safety standards are always in place in their homes, especially before traveling or being away for long periods. DEWA urged its customers to follow its tips and guidelines to improve the efficiency of electricity and water...
Abu Dhabi frames new grazing regulations to protect rangelands
Abu Dhabi, UAE-- In order to protect natural rangelands and promote sustainable traditional grazing practices, the Environment Agency – Abu Dhabi (EAD) has begun issuing licenses to owners and breeders of livestock to regulate grazing and all related activities in Abu Dhabi. The licensing policy has been introduced to ensure...
Saudia raises seat capacity by 10%
The number of domestic, international flights will rise.Dubai records $3.70 billion in weeklong real estate transactions
Dubai, UAE -- A total of 3,244 real estate transactions worth over AED 13.6 billion ($3.70 billion) were conducted during the week ending 7th July, 2023, according to figures released by the Dubai Land Department (DLD). The DLD report showed that 323 plots were sold for AED 3.33 billion, while...Asian markets decline as US data spark interest rate fears
Asian stocks tumbled again after another round of strong US data reinforced expectations the Federal Reserve will resume its interest rate hikes as officials wrestle with stubbornly high inflation. After a strong start to the week fueled by signs that US prices were stabilizing, regional markets have taken a turn...
Facebook hands US users controls over fact-checked content
For years, Facebook's algorithm automatically moved posts lower in the feed if they were flagged by one of the platform's third-party fact-checking partners, including AFP, reducing the visibility of false or misleading content. Under a new "content reduced by fact-checking" option that now appears in Facebook's settings, users have flexibility...
Samsung Q2 profit may drop 95%
Global glut of semiconductors hurts company's core memory sector.Hours after Threads takes off, Elon Musk threatens lawsuit
Threads is the biggest challenger yet to Musk-owned Twitter, which has seen a series of potential competitors emerge but not yet replace one of the world's biggest social media platforms, despite its struggles. Zuckerberg's latest move against Musk further heightened the rivalry between the two multibillionaires.
Energy prices may jump if output slashed, warns Shell CEO
LONDON, UK - Shell's chief executive told the BBC on Thursday that cutting gas and oil output would be "irresponsible" because it could further lift energy bills and worsen the cost-of-living crisis. Wael Sawan was asked about recent comments from UN head Antonio Guterres, who had declared it was "moral and...
Dubai logs over $871m in realty transactions on Thursday
DUBAI, UAE - Dubai's real estate market recorded 669 sales transactions worth US$792 million (AED2.91 billion) on Thursday, data released by Dubai's Land Department (DLD) showed. DLD said 134 mortgage deals totaling US$73 million (AED268.19 million), and 89 gift deals amounting to US$27 million (AED101.47 million). The sales included 567...
Volkswagen to test self-driving cars
Commercial launch of self-driving vehicles is planned for 2026.
Qatar Central Bank’s foreign reserves up 14 percent in June
Doha, Qatar -- International reserves and foreign currency liquidity of Qatar Central Bank (QCB) rose to reach QR 240.742 billion ($66.11 billion) in June, an increase of 14 percent, compared to QR 211.176 billion last year, Qatar News Agency (QNA) reported. The figures issued Thursday by QCB showed an increase...
May expat remittances in Saudi Arabia marginally down: SAMA
Dubai, UAE -- Remittances from expatriates in Saudi Arabia saw a slight decline year-on-year (YoY) to SAR 11.3 billion ($3.01 billion) in May, according to recent data released by the Saudi Central Bank (SAMA). On a month-on-month (MoM) basis, remittances from expats in Saudi Arabia increased 14 percent, or SAR...
Verition opens office in DIFC
MENA is an important market for Verition.
UN report confirms success of UAE investment endeavors: Al Marri
"The UNCTAD report for 2022 reaffirms the remarkable and unprecedented achievements resulting from the cumulative balance of FDIs flows in the UAE. These outcomes serve as a testament to the insightful guidance and foresight of our wise leadership in fostering a robust and sustainable national economy," UAE Minister of Economy...
Taiwan chip giant sees no production hit from China curb on rare metals
Taipei, Taiwan -- Taiwan's chip giant TSMC said Thursday it did not expect any direct effect on production from China's latest export controls on two rare metals essential for making semiconductors. China's Ministry of Commerce and Customs announced Monday that exports of gallium and germanium will require a license from Aug....ADQ acquires stake in Canada’s Sagard
The wealth fund invests in Sagard alongside Bank of Montreal.AD Ports Logistics signs deal with Acino for freight services
Abu Dhabi, UAE-- AD Ports Logistics (ADPL) has signed an agreement with Acino to provide the Swiss company with global freight-forwarding services, inclusive of sea and air transport in the Middle East and North Africa (MENA) region. The agreement will see ADPL leverage its fully integrated and GDP-certified end-to-end pharma...
Bahrain, UK sign MoU to preserve biodiversity and curb marine pollution
London, UK--Bahrain and the United Kingdom have signed a memorandum of understanding (MoU) on biodiversity and marine pollution. The MoU aims to create a framework of action between Bahrain’s Supreme Council for Environment (SCE) and Britain’s Cefas by allowing them to explore areas of cooperation in monitoring the environment, marine...
Iran signs oil contracts worth US$40bn in last 20 months: Javad Owji
Tehran, Iran-- Iran has signed oil contracts worth $40 billion with domestic and foreign companies during the last 20 months. Speaking at the second ministerial session of the 8th OPEC International Seminar entitled “Investments, finance and inclusive petroleum growth strategies” at the Austrian capital, Iran’s oil minister Javad Owji said...
UAE is focused on uniting parties in a COP that delivers for all: Al Jaber
Dr. Sultan bin Ahmed Al Jaber believes that the Caribbean region will have a key role at COP28 in bringing countries together and contributing to a consensus-driven approach across "every climate pillar." He affirmed a just energy transition can be delivered that embraces clean technologies, without sacrificing energy security or...Qatar Airways’ profits fall
Its net profit dropped 21% to US$1.21bn in 2022-2023.
Gas export to Europe continues via Greenstream pipeline : Libya
Vienna, Austria - Mohamed Aoun, Libyan Minister of Oil and Gas, has said that Libya is continuing its gas export operations to Europe through the Greenstream pipeline, local media reports said. He noted that an increase in gas exports is currently unfeasible, but could be considered in the future, after...Markets down after Chinese data flops, EU oil prices decline
London, United Kingdom - Stock markets retreated Wednesday on poorly-received Chinese data, as investors looked ahead to the reopening of Wall Street after the Independence Day holiday. "There are fresh concerns about the global economy powering down as data from China's service sector underlines how tepid the post-pandemic recovery has become,...
Saudi Arabia says oil production cut not at odds with Russia
Oil producers are grappling with falling prices and high market volatility amid fears of global economic slowdown and the Russian invasion of Ukraine, which has upended economies worldwide.
UAE FDI inflows record highest ever jump in 2022: UN report
The country received the fourth largest number of greenfield projects (997), an 84 per cent increase, behind only India (1008), the UK (1230) and the US (2075), according to the UN Investment Report 2023. UAE's impressive numbers led to an increase of the projects in West Asia by two thirds.
Mubadala invests in CoolIT Systems
KKR had invested in CoolIT through its Global Impact strategy.
Iraqi president presses for closer trade and energy ties with Iran
Baghdad, Iraq-- Iraqi President Abdul Latif Rashid has emphasized the need for reinforcing partnership with Iran in the fields of trade and energy. The president made the remarks during a meeting with an Iranian delegation headed by deputy foreign minister Bagheri Kani in Baghdad. Rashid accentuated the imperative of reinforcing...
Egypt to pour US$1.8bn into offshore gas exploration program
Vienna, Austria-- Egypt plans to drill new gas wells in the Mediterranean Sea and the Nile Delta as part of its ambitious $1.8 billion offshore exploration program. According to Tarek El Molla, Egypt's Minister of Petroleum and Mineral Resources, the country is developing several exp fields in the Mediterranean Sea,...Sheikh Hamdan launches first phase of waste-to-energy project
Making a strong push for transition to a green economy by building a clean energy infrastructure, Dubai saw the launch of the first phase of the plant at Warsan. Speaking at the site, the crown prince of Dubai said that the emirate has steadily expanded its capacity to produce energy...Twitter undergoes complex changes as Meta all set to unveil rival app
PARIS, FRANCE- Elon Musk spent the weekend further alienating Twitter users with more drastic changes to the social media giant, and he is facing a new challenge as tech nemesis Mark Zuckerberg prepares to launch a rival app this week. Zuckerberg's Meta group, which owns Facebook, has listed a new app...AllianceBernstein office in DIFC
DIFC provides a platform for AB to expand its wings.
Dubai Chamber, Mastercard unveil cyber security program for companies
Dubai, UAE - A program that enables companies to access innovative and affordable cybersecurity solutions was introduced at a workshop on cyber security organized by the Dubai Chamber of Commerce. The special one-year package, jointly developed by Dubai Chambers and Mastercard, is designed to support companies in evaluating and improving...Twitter restricts ‘TweetDeck’ to verified users from August
Paris, France - Twitter has announced that TweetDeck, a popular program that allows users to monitor several accounts at once, will be available only to "verified" users from next month. The social media firm, bought by billionaire Elon Musk last year, has been thrashing around for ways to make a profit,...Meet EU ‘gatekeeper’ definition, say seven tech giants
BRUSSELS, BELGIUM - Seven tech giants, including Amazon and Apple, have informed the European Union they meet the threshold to come under landmark new rules to curb their market dominance, Brussels said on Tuesday. The firms - Google parent Alphabet, Amazon, Apple, TikTok owner ByteDance, Facebook umbrella Meta, Microsoft and Samsung...
Subscription opens to Alinma EMF
The subscription is open for 60 days until Aug 31.
Saudi Catering, RSG ink pacts
The contracts are valid for 20 years, said Saudi Catering.
Aldar, IHC, ADNEC merge joint businesses
Eltizam Asset Management Group will also join Aldar Estates platform.
