Dubai, UAE -- One hundred and five homes priced in excess of US$10 million were sold in Dubai during the first three months of the year, up 19 percent on Q1 2023, according to the latest analysis from global property consultant, Knight Frank. The total value of luxury homes sold...

Dubai, the Middle East's financial center, was paralyzed by the heavy storms that caused widespread flooding around the United Arab Emirates and Bahrain. Flagship shopping centers Dubai Mall and Mall of the Emirates both suffered flooding and water was ankle-deep at least one Dubai Metro station.

Tourism industry accounts for 9 percent of GCC region's GDP and it is expected to grow annually at 7.7 percent. Trends looks at some of the influential industry players driving this growth.

DUBAI, UAE – Executive Vice President, Dubai World Trade Center (DWTC)  Mahir Julfar said that the DWTC's performance in 2023 was outstanding, welcoming 2.47 million participants - a 25 percent surge in visitor numbers compared to 2022. ‘’This achievement was propelled by the successful staging of 301 Meetings, Incentives, Conferences,...

Dubai, UAE--Dubai received 3.67 million overnight visitors in January-February 2024, with an increase of over 18 percent year-on-year (YoY), figures released by Dubai Department of Economy and Tourism (DET) showed. According to the DET's Tourism Performance Report for January-February 2024, Dubai recorded 1.77 million international visitors in January, and 1.9...

“2024 has opened up to an interesting and promising phase of growth within our sector. As proptech leaders, we can see a more diversified demand and we are positive of the impact this will have in the months to come. We look forward to supporting the market by empowering property...

The pact aligns with CBI’s plan to support innovation in UAE.

The aim is to offer trade finance solutions to businesses in UAE.

Brussels, Belgium -- One of Belgium's most-wanted suspected drug smugglers was extradited from Dubai on Friday, the Belgian justice ministry said. Nordin El Hajjioui, a Belgian of Moroccan origin, is believed to be one of the main drug barons in Antwerp and is wanted in at least three cocaine-trafficking cases. Emirati...

Eti Bhasin, a trailblazing restaurateur in Dubai's thriving hospitality scene, navigates challenges with resilience and innovation at her popular eatery, Dhaba Lane.

Dubai, UAE-- Outbound travel from China is estimated to almost double this year, compared with 2023 and will only be 22% below its peak pre-pandemic numbers of 155 million tourists in 2019, who spent over $250 billion overseas, according to Oxford Economics Full recovery is expected to materialise in 2025,...

Dubai, UAE - As China's outbound tourism steadily rebounds from the pandemic's impact, the Middle East is emerging as a preferred destination for Chinese travelers, alongside traditional hotspots like Thailand and Malaysia. Data from online travel agencies including Ctrip, Tongcheng, Tuniu, Mafengwo, and Zuzuche indicates a significant rise in Chinese...

ESA will consolidate operations under a single ERP solution

As the Director of Admissions and Operations for Georgetown University's Executive MBA Dubai Program, Lara Dajani champions empowering women and bridging cultures.

Dubai, UAE - The UAE's total assets abroad, encompassing both governmental and private investments, have reached $2.5 trillion as of early 2024. Jamal Bin Saif Al Jarwan, chief of the UAE International Investors Council, said that UAE investments abroad are performing well despite global economic fluctuations. The UAE secured the top...

The sale is poised to generate $1.59 billion.

The MIA Art Collection aims to bridge the gap between the art scene and the business sector, empowering women artists, its founder Alejandra Castro Rioseco tells TRENDS.

Dubai, UAE - The UAE was recognized as the top destination for international professionals seeking employment visas. According to the Annual Global Hiring Report by the Global HR platform Deel, industries like financial services, IT, computer software, marketing, advertising, and management consulting are leading in attracting international talent to the...

DUBAI, UAE – Chairman of the Dubai Supreme Council of Energy Sheikh Ahmed bin Saeed Al Maktoum chaired the 81st meeting of DSCE, which was held virtually. The Council reviewed updates of the demand side management strategy for 2030 and 2050, which set well-studied goals to reduce water and electricity...

Dubai, UAE -- Nearly 50 percent of the Multinational Corporations (MNCs) that opened businesses in Dubai during 2023 are based in Asia and Australia, according to the Dubai International Chamber, one of the three chambers operating under the umbrella of Dubai Chambers. The Chamber said in a statement that growing...

The two companies have signed a three-year partnership.

Dubai, UAE--Dubai welcomed 1.77 million international tourists in January 2024, an increase of 21% compared to 1.47 million visitors in the same period of 2023. According to the Dubai Tourism Performance Report for January issued by the Dubai's Department of Economy and Tourism, Western Europe ranked first in terms of...

The company's revenue grew 6.6 percent to $18.25 billion.

The offer was oversubscribed 165 times for all tranches combined.

Dubai, UAE - More than 70% of surveyed retailers in the UAE have experienced increased revenue and higher customer footfall since adopting digital payments,  a study conducted by Visa in the United Arab Emirates (UAE), titled 'Value of Acceptance’ has revealed. The study focused on two groups of merchants - those...

Dubai, UAE--Total spending using international cards in the UAE witnessed a growth of more than 25% during the year 2023. J.K. Khalil, General Manager, MENA East, Mastercard, told Emirates News Agency (WAM) that digital payments continue to experience remarkable growth in the UAE, with more users and companies opting for...

Dubai, UAE -- Dubai hotels achieved a 3.4 percent year-on-year growth in occupancy levels, reaching 90.8 percent, according to preliminary data for February released by CoStar, a provider of global real estate information, analytics, and online marketplaces. Other key metrics also showed positive growth, with the average daily rate (ADR)...

DUBAI, UAE – The Ministry of Energy and Infrastructure has signed a collaboration agreement with NeoNautica, a company specialized in technology and digital services for the maritime sector. This collaboration aims to develop and operate the UAE Blue Pass platform, which is dedicated to creating quality packages of privileges and...

DUBAI, UAE – Jebel Ali Free Zone (Jafza) is a major contributor to the growing trade between India and the UAE. There's been a significant increase in Indian businesses setting up there, with 28 percent more new companies in 2023 compared to the previous year. This resulted in over 190...

Dubai, UAE - The UAE's online shopping market is gearing up for unprecedented growth, with revenue projections hitting $9 billion by the end of 2024 and an impressive $17 billion forecasted for 2025. The trajectory is emblematic of the broader Middle East and North Africa (MENA) region's e-commerce landscape, poised...

DUBAI, UAE – Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum said that under the guidance of Vice President, Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum, the emirate has achieved remarkable success in expanding endowment assets and enhancing service endowments. Dubai witnessed an...

The law issued by Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum exempts the foreign banks licensed to operate in the Dubai International Financial Centre. Besides all foreign banks operating in Dubai, the law applies to special development zones and free zones.

The debut issue of the company is valued at US$300m.

Dubai, UAE - The Mohammed Bin Rashid Space Centre (MBRSC) on Tuesday announced the graduation of Emirati astronauts Nora AlMatrooshi and Mohammad AlMulla from the 2021 NASA Astronaut Candidate Class training program in a ceremony held at the Johnson Space Center in Houston, USA.  The milestone marks the culmination of...

Dubai, UAE--Dubai Chambers has signed a memorandum of understanding (MoU) with DP World to enable the chambers to leverage DP World’s global network to establish and host international representative offices at the group’s facilities around the world. The partnership aligns with the goals of the Dubai Global initiative launched by...

DUBAI, UAE – Dubai Mall welcomed a record 105 million visitors in 2023, a jump of over 19 percent on the previous year’s 88 million, according to latest figures released by the mall on Tuesday. Figures also showed a staggering 20 million people visited the mall in the first two...

Revenue in 2023 grew by 10 percent YoY to $599 million.

The price range implies a market capitalization of $1.63bn-$1.72bn.

Dubai, UAE - The UAE’s foodservice market is poised to reach $19.98 billion in 2024, with further projections indicating a substantial growth trajectory, a whitepaper released by real estate services firm JLL has revealed.  The whitepaper highlights the unprecedented growth opportunities within the UAE's Food and Beverage (F&B) industry.  The report...

Abu Dhabi, UAE--The MENA region's commercial aircraft services market will more than double in value by 2042, according to Airbus’ latest Global Services Forecast (GSF). Growing to US$28 billion from US$12 billion, and registering a 4.4 percent average annual growth, the regional expansion will surpass the global average growth of...

Toll usage revenue rose 11.7% YoY to US$502million.

DUBAI, UAE – Dubai International Boat Show has wrapped up following a hugely successful week of high-value boat sales, important discussions addressing industry developments, groundbreaking agreements and partnerships set to shape the future of the yachting world. The exhibition, which concluded on Sunday, is recognized as one of the most...

Dubai, UAE - The Middle East has emerged as a prominent player in global CEO appointments, securing 68 out of a total of 1,221 positions at the largest public listed companies worldwide. Heidrick & Struggles revealed in a report titled "Route to the Top 2023". The countries contributing to these appointments...

Dubai, UAE - The International Monetary Fund (IMF) in a report has indicated that the global economy is on course for a soft landing, despite ongoing weaknesses in activity and growth prospects. "The cyclical position of G20 countries has proven stronger than previously anticipated as disinflation has so far proceeded...

Dubai, UAE - The price of Bitcoin on Tuesday surged past $57,000, demonstrating the continued strength of the cryptocurrency market rally. The rise follows Bitcoin's climb above $54,000 on Monday, a milestone not reached since December 3, 2021. The cryptocurrency has been experiencing a bullish trend since January 11, when...

New Delhi, India - India's foreign ministry confirmed on Friday that some of the country's citizens had signed up for "support jobs" with the Russian army and said it was working with Moscow to secure their discharge. The Hindu newspaper reported on Wednesday that around 18 Indians were stranded in...

Dubai, UAE-- The economy of Dubai would grow around five percent this year, according to Abdul Aziz Abdulla Al Ghurair, Chairman of Dubai Chambers. Speaking to the media on the sidelines of the annual media briefing organised by Dubai Chambers, Al Ghurair said that the recent increase in interest rates...

DUBAI, UAE – President and CEO of Dubai Chambers Mohammad Ali Rashed Lootah has revealed that 6,478 new Food and Beverage (F&B) companies joined Dubai Chamber of Commerce in 2023, representing year-over-year growth of 19.4 percent. The total number of F&B companies registered with Dubai Chamber of Commerce – one...

The report stresses the urgent need for MENA news organizations to overhaul business models, adopt digital strategies, and diversify content delivery to seize growth opportunities.

Dubai, UAE-- In the month of May scores of airport developers, officials, and suppliers from around the world will troop into Dubai to participate in the world’s largest annual event dedicated to the airport industry. The 23rd edition of the three-day B2B event at the Dubai World Trade Centre (DWTC),...