Abu Dhabi, UAE -- Abu Dhabi Exports Office (ADEX), the export-financing arm of Abu Dhabi Fund for Development (ADFD), has signed a five-year $500m agreement with the Egyptian government to facilitate the provision of wheat and essential commodities in the North African nation. The agreement entails a revolving financing program...

Beijing, China -- Saudi Arabia's Minister of Municipal, Rural Affairs and Housing, Majid bin Abdullah Al-Hogail, has held a meeting with key leaders from Chinese housing infrastructure companies, which are aimed at fostering collaboration in infrastructure, urban development, housing, real estate development, and financing. The Kingdom's ambassador to China, Abdulrahman...

Abu Dhabi, UAE-- The banks in the UAE increased their credit facilities for the business and industrial sectors by around $7.73 billion in the first five months of this year. According to the latest statistics from the Central Bank of the UAE, the two sectors witnessed a 4 percent rise...

Abu Dhabi, UAE – Real estate markets of UAE capital Abu Dhabi and Dubai demonstrated resilience in the face of rising interest rates and inflation in the second quarter, with Dubai realty market outperforming many if its peers worldwide, a report said. The report by Asteco, a full-service Real Estate...

Abu Dhabi, UAE -- More than AED 4 billion ($1.08 billion) were confiscated during the past two years by UAE's Ministry of Interior in collaboration with international law enforcement agencies, whose combined efforts led to the arrest of 387 wanted individuals in 521 money laundering cases. Lt. Gen. Sheikh Saif...

Los Angeles, United States - Warner Bros.' hit "Barbie" dominated North American box offices for a fourth consecutive week, industry estimates showed Sunday, as director Greta Gerwig continues to bust industry records. Gerwig, who with "Barbie" had already become the first solo woman director to rake in more than $1 billion...

ABU DHABI, UAE – ADNOC and the National Central Cooling Company (Tabreed) on Monday announced a breakthrough following the conclusion of testing on two geothermal wells at Masdar City here. The landmark project, the first in the Gulf region, is set to decarbonize the cooling of buildings in Masdar City,...

Riyadh, Saudi Arabia - The Saudi Ministry of Human Resources and Social Development (MHRSD) is set to introduce a system of fines and penalties targeting employers who breach labor regulations, a report in Saudi Gazette said. The changes encompass a wide array of labor-related violations: The companies will face fines...

Riyadh, Saudi Arabia--The Saudi National Debt Management Center (NDMC) has issued new sukuk worth $9.57 billion under the Local Saudi Sukuk Issuance Program, in addition to an early purchase of more than $9.52 billion. In a statement carried by the Saudi Press Agency (SPA), NDMC outlined that such a step...

Baghdad, Iraq - The water flows from Turkey to Iraq have improved at a rate of 500 m3 per second following the agreement between the two countries, the Minister of Water Resources, Aoun Diab, said on Sunday.  “I met with the Turkish ambassador for an hour and a half, and...

Abu Dhabi, UAE--The UAE has applauded the UN for the successful unloading of oil from the deteriorating tanker, FSO Safer, situated off Yemen's coast in the Red Sea. The Ministry of Foreign Affairs (MoFA) lauded the collective efforts of the United Nations, its Secretary-General Antonio Guterres, the Coalition to Restore...

New Delhi, India -- The UAE ranks first among the countries in the world in the employment of Indians, currently employing more than 3.55 million people from the world's most populous country, India's Minister of State for External Affairs, V Muraleedharan, told parliament. The number of Indians in the UAE...

RIYADH, SAUDI ARABIA – Prince Abdulaziz bin Salman and Agnes Pannier-Runacher, Minister for Energy Transition of the French Republic met and issued a joint communiqué: The Government of the Kingdom of Saudi Arabia and the Government of the French Republic acknowledge that energy is one of the main pillars of...

Dubai, UAE -- The General Department of Anti-Narcotics at Dubai Police apprehended 49.6 percent of the total number of suspects wanted for drug-related cases and promoting psychotropic substances across the UAE in the second quarter of 2023. During the same period, a total of 491 kg of drugs and 3,333,916...

Geneva, Switzerland -- The World Health Organization (WHO) is convening the Traditional Medicine Global Summit on 17-18 Aug 2023​ in Gandhinagar, Gujarat, India. Co-hosted by the Government of India, the Summit will explore the role of traditional, complementary, and integrative medicine in addressing pressing health challenges and driving progress in...

Dubai, UAE -- In a step towards its clean energy ambitions, the Dubai Electricity and Water Authority (DEWA), has announced Abu Dhabi Future Energy Company (Masdar) as the Preferred Bidder for the development and operation of the 1,800MW sixth phase of the Mohammed bin Rashid Al Maktoum Solar Park. The...

Many fans who had travelled to Doha to support the Atlas Lions last year found themselves deprived of free tickets promised to them by the Moroccan Football Federation. The tickets were sold on the black market at four or five times their face value, according to accounts gathered at the...

BEIRUT, LEBANON -The Lebanese army arrested 134 migrants near the northern border with Syria on Saturday after foiling their attempt to take a boat to Europe, it said in a statement. The group of would-be migrants -- made up of 130 Syrians and four Lebanese nationals -- were taken into custody...

Riyadh, Saudi Arabia -- For the first time, Riyadh will host the Peace and Sport Middle East Forum, powered by the Saudi Olympic and Paralympic Committee on 18-19 October. The forum will be held under the theme, “Sport is an answer for peace”, at the Cultural Palace in Riyadh-based Diplomatic...

Jeddah, Saudi Arabia--Brazilian forward and former Liverpool star Roberto Firmino hit a hat-trick on his Saudi Pro League debut on Friday as Al- Ahli defeated Al-Hazem 3-1. The 31-year-old skipper found the net in the sixth, 10th and 72nd minutes for the promoted team who also fielded fellow new signings Riyad...

Dubai, UAE - In a significant policy shift, the Australian government has announced its decision to reinstate the term "Occupied Palestinian Territories." The move comes alongside a renewed commitment to opposing "illegal" Israeli settlements and expressing concerns about obstacles to peace in the region. Australian Foreign Affairs Minister Penny Wong...

Riyadh, Saudi Arabia -  In recent days, speculation has grown about the Biden administration's attempts to broker a normalization agreement between Israel and Saudi Arabia. This potential diplomatic breakthrough, akin to climbing Mount Everest, has significant implications for the Middle East and global geopolitics. While the road ahead is fraught...

Dubai, UAE - A total of 3,103 real estate and properties transactions valued at approximately $2.64 billion in total were conducted during the week ending 11th August 2023, according to the Dubai Land Department (DLD). The weekly DLD report noted that 235 plots were sold for about $609 million, 2,302...

In Asian stock market trading, Hong Kong extended the week's losses Friday, even as e-commerce titan Alibaba surged on a forecast-busting rise in revenue.

Hodeida, Yemen -- The United Nations said Friday it had successfully transferred more than one million barrels of oil from a dilapidated Yemeni tanker, removing the imminent risk of a spill. UN Secretary General Antonio Guterres "welcomes the news that the ship-to-ship transfer of oil from the FSO Safer to the...

PARIS, FRANCE - The International Energy Agency said Friday it had revised upwards its forecast for global oil demand growth in 2023 as demand is "scaling record highs". World oil demand already hit a record 103 million barrels per day in June and August and "could see yet another peak", the...

Ras Al Khaimah, UAE - The existing and upcoming waterfront and island developments in Ras Al Khaimah have witnessed a rise in demand in the first half of 2023. Bayut, the UAE's property portal, said in its latest report. The steady demand for properties in the emirate’s most popular residential...

Istanbul, Turkey - Turkey's exports to Saudi Arabia have skyrocketed by an astonishing 630 percent in the first seven months of this year compared to the same period in 2022, the dailysabah reported on Thursday. Data compiled by the Turkish Exporters Assembly (TIM) revealed that exports to the kingdom reached...

SHARJAH -- Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, has outlines the restructuring of the Board of Trustees of the American University of Sharjah (AUS). The decree stipulates that the AUS Board of Trustees will be chaired by Sheikha Bodour bint Sultan bin...

Riyadh, Saudi Arabia -- The Saudi Tourism Investment Company (ASFAR), a Public Investment Fund (PIF) portfolio company, has announced a sponsorship agreement with Al-Hilal Saudi Club, one of Saudi Arabia's premier football clubs.  The sponsorship deal will run for three seasons.  Under the terms of the agreement, ASFAR will serve...

Dubai, UAE-- More than 15 million people visited Dubai Municipality public parks, neighborhood parks, lakes, and recreational facilities for the first time during the first half of 2023. It marks a 50 percent increase in the same period of 2022, which recorded approximately 10 million visitors. Visitors to parks and...

Riyadh, Saudi Arabia--The Saudi Export Development Authority organized a trade mission to Japan under the theme of "Saudi Made" in Tokyo on Tuesday. The mission comes as part of the Saudi Export Development Authority efforts aimed at developing non-oil Saudi exports, stemming from its role in promoting exporters and their...

BEIRUT, LEBANON - Lebanon's culture minister said on Wednesday he had asked authorities to ban hit movie "Barbie" for purportedly "promoting homosexuality", as anti-LGBTQ rhetoric soars in one of the Middle East's more liberal countries. "It was decided... to send a request to Lebanon's General Security agency... to take all necessary...

Abu Dhabi, UAE - A record 2.4 million tourists visited the UAE during the first six months of 2023, a report by the Department of Culture and Tourism – Abu Dhabi said. Also, the numbers marked an increase of around 34 percent compared to the same period during last year....

Dubai, UAE --  Granting the United Arab Emirates the status of a member of BRICS group (Brazil, Russia, India, China, South Africa) will allow the association to push Western countries towards accepting changes in the system of international relations, especially with regard to trade and de-dollarization, an international affairs expert...

Tehran, Iran -- Oman has said it has been making efforts to facilitate regional and international cooperation by with the active participation of Iran. In a telephone conversation with his Iranian counterpart on Tuesday, Omani Foreign Minister Sayyid Badr Albusaidi referred to the recent talks between Iranian President Ebrahim Raisi...

ABU DHABI, UAE -  The Abu Dhabi Fund for Development (ADFD) has signed a loan agreement with the Government of Tanzania worth US$105.4 million (AED387 million) to enhance energy security in the country. The project’s objective is to fully connect the Kagera administrative region with the national electricity grid, reducing...

Riyadh, Saudi Arabia -- The value of Saudi Arabia's real estate transactions declined 16 percent year-on-year (YoY), or SAR 36.2 billion, to nearly SAR 184.42 billion ($49.15 billion) in 2022. The Ministry of Justice said that this is the first decline in the value of real estate transactions in the...

Dubai, UAE -- Dubai Chamber of Digital Economy, one of the three chambers operating under the umbrella of Dubai Chambers, attracted 69 emerging technology companies to the emirate in the first half of 2023 in partnership with various government authorities. The chamber said that during the six-month period, the chamber...

Abu Dhabi, UAE - The Central Bank of the UAE (CBUAE) has revoked the license of Dirham Exchange, an exchange house operating in the UAE, and struck off its name from the Register, and revoked the registration of RMB Commercial Brokers Co, a Hawaladar operating in the country. The administrative...

Abu Dhabi, UAE: ADNOC Gas, the integrated gas processing company, announced on Wednesday the award of a $3.6 billion (AED13.1 billion) contract to the joint venture between National Petroleum Construction Company Co. and Tecnicas Reunidas to expand its gas processing infrastructure in the UAE.  The scope of the contract includes...

Sharjah, UAE--The Real Estates Sector Business Group has discussed with the Sharjah FDI Office (Invest in Sharjah) ways to promote lucrative real estate investment projects in Sharjah and invigorate the local real estate sector. The meeting looked into ways to benefit from the Sharjah FDI Office's expertise to promote real...

Islamabad, Pakistan - Pakistan's Prime Minister Shehbaz Sharif met on Tuesday with visiting Saudi Deputy Foreign Minister Waleed bin Abdulkarim Al Khuraiji, and discussed regional and international development. They also discussed bilateral relations and ways to enhance and develop them in various fields in a way that achieves the aspirations...

Dubai, UAE - Dubai International Chamber attracted 56 businesses to the emirate during H1 2023, including six multinational corporations and 50 Small and Medium-sized Enterprises (SMEs), local media reports said. It also supported the expansion of 15 local and national companies into global markets, either by increasing their exports or...

Paris, France -- Taiwanese chipmaker TSMC agreed Tuesday on a multibillion-dollar deal to build a plant in Germany, part of a push to put Europe at the center of the global semiconductor industry. The United States and China are embroiled in a fierce rivalry to dominate the chip industry, and Europe...

Washington, United States - The US trade deficit narrowed in June on a bigger pullback in imports than exports, according to government data released on Tuesday. The overall trade gap came in at $65.5 billion in June, down from a revised $68.3 billion figure in May, Commerce Department data showed. This...

Oslo, Norway - Norway's data protection agency said Tuesday it would start fining Facebook and Instagram owner Meta nearly $100,000 per day for defying a ban on using users' personal information to target ads. The Norwegian watchdog, Datatilsynet, said Meta would be fined one million kroner ($97,000) per day, starting August...

Dubai, UAE -- Dubai's real estate market recorded real estate deals worth more than AED 2 billion ($544 million) on Tuesday, Dubai Land Department said. The deals include 433 sales transactions worth AED1.7 billion, in addition to 90 mortgage deals totaling AED270.28 million, and 37 gift deals amounting to AED69.36...

Doha, Qatar - The residential property market in Qatar is grappling with a dual challenge of decreased demand and increased supply, a result of the construction boom surrounding the FIFA World Cup 2022, says Knight Frank, a global real estate consultancy, in its latest report. Faisal Durrani, Partner and Head...

Doha, Qatar -  The international reserves and foreign currency liquidity of Qatar Central Bank (QCB) surged last July to reach QR 241.572 billion ($66.26 billion), marking a 14.13 percent increase compared to QR 211.325 billion ($58.17 billion) in the same month the previous year. The data released on Monday by...