Dubai, UAE -- Dubai real estate market recorded real estate transactions worth AED 2.5 billion ($680 million) on Thursday, Dubai Land Department said.The transactions included 744 sales worth AED2 billion, in addition to 153 mortgage deals of AED542.55 million, and 27 gift deals amounting to AED31.3 million.The sales included 688...

Abu Dhabi, UAE--The UAE airports have received nearly 31.8 million passengers in the first quarter of 2023, a rise of 11.5 million passengers from the same period in 2022, when about 20.4 million passengers were recorded, according to the Central Bank of the UAE (CBUAE).Indicating that the civil aviation sector...

Dubai,  UAE - Dubai International Chamber, one of the three chambers operating under Dubai Chambers on Wednesday marked the official inauguration of its latest international office in Johannesburg, South Africa.The new office further strengthens the UAE’s growing trade links with Africa and will seek to boost the level of bilateral...

Dubai, UAE - Pakistan has taken steps to finalize a deal with the United Arab Emirates (UAE) for the handover of the Karachi port terminals, potentially marking the first inter-governmental transaction under a law implemented last year to raise emergency funds. The decision was made during a meeting chaired by Finance...

DUBAI, UAE - Dubai's real estate market recorded 638 sales transactions worth US$503 million (AED1.85 billion) on Tuesday, data released by Dubai's Land Department (DLD) showed.The market also recorded 130 mortgage deals totaling US$732 million (AED2.69 billion), and 21 gift deals amounting to US$59.5 million (AED218.56 million).The sales included 566...

DUBAI, UAE -  Arada's US$500 million Sukuk was listed in Nasdaq Dubai. The Sukuk is the first issuance by Arada on the region’s international financial exchange, further solidifying Dubai’s position as one of the largest Sukuk listing venues globally, with a total value of US$77 billion.To celebrate the successful listing...

According to Qatar's foreign ministry, Doha will reopen embassy in Abu Dhabi and its consulate in Dubai immediately. The UAE too will throw it embassy open in Doha. The UAE's Foreign Minister, Sheikh Abdullah bin Zayed, spoke to Sheikh Mohammed bin Abdulrahman Al-Thani, Qatar's Prime Minister and also its Foreign...

DUBAI, UAE -  Yemen's government and Iran-backed Houthi rebels are locked in talks in Jordan to set the ground for a possible prisoner exchange, a Red Cross official told AFP on Sunday.Yemen's conflict began in 2014 when the Houthis seized the capital Sanaa, prompting a Saudi-led coalition to intervene the following...

DUBAI, UAE -  Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has inaugurated the 900 megawatt (MW) fifth phase of the Mohammed bin Rashid Al Maktoum Solar Park.This will be the largest single-site solar park in the world with a...

DUBAI, UAE  - Dubai Chamber of Digital Economy, one of the three chambers operating under Dubai Chambers, has launched its third report on the emirate's digital economy.The Dubai's Venture Capital Ecosystem report provides an overview of the investor landscape backing the start-ups and scale-ups that are transforming Dubai and the...

DUBAI, UAE - A total of 3,625 real estate and properties transactions valued at US$3.4 billion (AED12.5 billion) were conducted during the week ending June 16, 2023, according to figures released by the Dubai Land Department (DLD).The DLD report showed that 189 plots were sold for US$620 million (AED 2.28...

DUBAI, UAE - Dubai International Chamber (DIC), one of the three chambers operating under Dubai Chambers, inaugurated on Friday a new international representative office in London, UK.The launch of the new office, which is DIC’s first representative office in Europe and 20th globally, marks a significant step in the chamber’s...

Dubai, UAE - Dubai witnessed 604 sales transactions totaling AED2.1 billion ($567.8 million) on Thursday in addition to 106 mortgage deals amounting to AED337.09 million ($91.5 million) and 32 gift deals amounting to AED158.95 million ($43.2 million).The sales transactions consisted of 557 villas and apartments worth AED1.66 billion ($449.6 million)...

DUBAI, UAE :   In the first five months of 2023, Audi Middle East achieved a 33 percent growth compared to the same period in 2022, making it the strongest start to a year since 2015.All Audi sedan and SUV models have experienced significant year-on-year growth; with Audi Approved Plus vehicles...

DUBAI, UAE - The Ministry of Energy and Infrastructure (MoEI) has joined UAE's National In-Country Value (ICV) program following a memorandum of understanding with the Ministry of Industry and Advanced Technology (MoIAT).The MoU was signed in the presence of Dr. Sultan Al Jaber,  UAE Minister of Industry and Advanced Technology;...

Dubai, UAE – Realiste, proptech company in the UAE, has made a list of the most profitable areas for short-term rental and long-term rental and also talked about the most profitable investment strategies in these areas.Here is the list of the best Dubai locations for property investment with a focus...

Dubai, UAE - The UAE's precious metals market, which includes gold, jewelry, gold bars, and silver, is expected to reach a value of AED 13.21 billion ($3.59 billion) by the end of the decade. This projection is based on a forecasted compound annual growth rate of 3.66 percent through 2030....

Dubai, UAE: Dubai's property sector has witnesses a 78 percent increase in sales volume in May 2023 when compared to the same period one year ago.About 11,700 real estate transactions were logged last month, an almost double bump from the 6,587 sales that were registered in May 2022.A recent analysis...

Dubai, UAE - The next edition of ‘A Call from Space’, an exclusive event featuring Emirati astronaut Sultan AlNeyadi is being held in Ras Al Khaimah today at 2 PM. So far five editions of the event have been held, four of them across the UAE and the one in...

Aim is to enhance trade between the UAE and Kazakhstan.

DUBAI, UAE -  Dubai Electricity and Water Authority (DEWA) has commissioned six new 132/11 kV transmission substations from January to the end of April 2023 with a conversion capacity of 900 megavolt-amperes (MVA), and a cost of US$151 million (AED555 million).The new transmission substations are in Al Jaddaf, Tilal Al...

Dubai, UAE - Middle East, Turkey, and Africa (META) region ranks among the top three regions most prone to mobile financial scams, a recent report by cybersecurity firm Kaspersky has revealed. The study indicates that 14 percent of installations of potentially unwanted mobile financial apps on Android phones were made by...

Dubai, UAE-- The UAE and South Korea are aiming to foster cooperation to promote entrepreneurship and support growth of small and medium enterprises in the two countries' markets.In this connection, Abdullah bin Touq Al Marri, Minister of Economy, held a bilateral meeting with Lee Young, Minister of SMEs and Startups...

Dubai, UAE--The UAE and Russia have held the second round of negotiations on the double taxation agreement on income and capital. The talks follow the ministry’s efforts to further strengthen cooperation frameworks for tax matters, provide full protection to taxpayers from double taxation and avoid the obstruction of the free...

Dubai, UAE - Dubai has achieved top global ranking in attracting Foreign Direct Investment (FDI) projects in the cultural and creative industries in 2022,  revealed Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture and Arts Authority on Monday.According to the Dubai FDI Monitor report, compiled by...

Dubai, UAE -- Dubai's real estate market recorded real estate transactions worth AED 3.5 billion ($952 million) on Monday, the emirate's Land Department said.The deals included 671 sales transactions worth AED2.29 billion, 149 mortgage deals totaling AED1.14 billion and 29 gift deals amounting to AED98.65 million, the DLD said.The sales...

DUBAI,  UAE -  Dubai Chamber of Digital Economy, one of the three chambers operating under Dubai Chambers, has announced a new initiative to help tech companies set up in Dubai.The initiative will provide a comprehensive package of services designed to support tech and digital startups, SMEs, and multinational corporations planning...

Sharjah, UAE-- The Sharjah Electricity Water and Gas Authority (SEWA) has held talks with a US consulate-general delegation to explore efforts in promoting innovation in energy and water and developing sustainable solution for energy production using advanced technologies.In this regard, Abdullah Abdul Rahman Al Shamsi, Director-General of SEWA, hosted a...

DUBAI, UAE - Dubai’s Roads and Transport Authority (RTA) has signed a strategic partnership agreement with Al-Futtaim Automotive to deploy 360 vehicles, including electric and hybrid variants, for use in conferences and events over a three-year period.As part of the agreement, which supports RTA's sustainable transport network and the Zero-Emissions...

Sharjah, UAE - Abdullah Abdul Rahman Al Shamsi, Director-General of SEWA Sunday discussed the authority's initiatives to reduce emissions and combat climate change with a delegation from the US Consulate General, led by Megan Gregonis, the Consul-General in Dubai.The discussion also focused on SEWA's efforts in promoting innovation in energy...

DUBAI, UAE -  Dubai Electricity and Water Authority (DEWA) ’s Research and Development (R&D) Center has developed an advanced, smart facility to simulate various leakage cases of water transmission pipelines.This allows evaluation, development and testing of new leak detection techniques.The center developed the facility using software and hardware, based on...

Dubai, UAE - Founded in 2022, Islamic Coin ($ISLM) has garnered a community of over 1.3M users, a feat accomplished in less than six months. The coin which aims to cater to over 2 billion Muslims worldwide is the first Shariah-compliant decentralized ledger specifically designed to follow the rules and traditions...

Dubai, UAE -- A total of 3,397 real estate and properties transactions valued at AED 9 billion ($2.45 billion) were conducted during the week ending 9 June 2023, according to the Dubai Land Department (DLD).The DLD data showed that 204 plots were sold for AED 1.52 billion, 2,562 apartments and...

Dubai, UAE - The number of deepfake videos online is increasing at an annual rate of 900 percent according to the World Economic Forum (WEF). A lot of deepfake fraud cases hit major headlines in the news, with reports relating to harassment, revenge, crypto scams.Here are three top three deepfake...

Dubai, UAE - After welcoming 14.36 million visitors in 2022, a 97 percent Year-over-Year (Y0Y) growth when compared to 7.28 million tourist arrivals in 2021, the emirate looks forward to receiving 18 million tourists this year.The city alone welcomed six million tourists in the first four months of this year...

DUBAI, UAE - Dubai International Chamber (DIC), one of the three chambers operating under Dubai Chambers, has launched the International Partners Network, a platform to enhance cross-border dialogue and cooperation between DIC and trade promotion agencies, commercial attaches and business councils.The launch of the network was attended by over 100...

Dubai, UAE -- Dubai International Chamber, one of the three chambers operating under Dubai Chambers, has attracted five Multinational Corporations (MNCs) and 20 Small and Medium-sized Enterprises (SMEs) during Q1 2023 alone, which is more than the number attracted during the entire year 2022. In addition, the chamber also supported...

Dubai, UAE: Dubai Electricity and Water Authority (DEWA) on Thursday received two bids from ACWA Power and Masdar with the latter submitting the lowest bid of $1.62154 cents per kilowatt hour (kWh) for the 1,800MW 6th phase of the Mohammed bin Rashid Al Maktoum Solar Park. The arrangement will be based...

Dubai, UAE:  The UAE’s target of attracting 40 million tourist visits by 2030, and its subsequent economic contribution of AED 450 billion ($123 billion) to the country’s national GDP, will further boost the leisure and entertainment (L&E) sectors of both the nation and the region, Fever, the leading global live-entertainment...

DUBAI, UAE - The World Bank raised its global growth forecast for 2023 to 2.1 percent (in June 2023) from 1.7 percent  (in January 2023), thanks to greater-than-expected flexibility in major economies.In its latest report released in June 2023, the World Bank also expected the global growth to reach 2.4...

Dubai, UAE -- A total of 30 startups were attracted to Dubai by the Dubai Chamber of Digital Economy in the first quarter of 2023, the Chamber said Tuesday.Dubai Chamber of Digital Economy, one of the three chambers operating under Dubai Chambers, said it cooperated with relevant government entities to...

Dubai, UAE -- Dubai Financial Market (DFM) saw on Monday a direct deal on 5.25 million shares of Taaleem Holding Group worth AED 17.16 million ($4.65 million).The Group's share closed 7.78 percent higher at AED 3.6 ($0.98) after trading of more than 32 million shares at the value of AED...

Dubai, UAE -- Dubai Multi Commodities Centre (DMCC) Monday announced a partnership with Dubai-headquartered cryptocurrency exchange Bybit, in which the exchange will provide financial support totaling AED 500,000 for new crypto businesses looking to set up at the region’s largest community of Web3 and blockchain businesses – the DMCC Crypto...

Dubai, UAE -  Around 70 percent of top-performing teams in the GCC have a higher percentage of women, underscoring the positive impact of gender diversity on organizational success, a survey by Bain & Company has revealed. Leading the way in this transformation are the United Arab Emirates (UAE) and Qatar, while...

Vienna,  Austria – OPEC+ has decided to adjust the level of overall crude oil production to 40.46 mb/d, starting 1 January 2024 until 31 December 2024.This was announced by the global organisation in a statement following the 35th OPEC and non-OPEC Ministerial Meeting in Vienna today.According to the statement, OPEC...

DUBAI, UAE - US special climate envoy John Kerry has met senior Emirati officials in Abu Dhabi, including the head of the United Nations' upcoming climate change conference, official media reported on Sunday.The choice of Sultan Al Jaber, chief executive of the Abu Dhabi National Oil Company (ADNOC), to head December's...

DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) extended water transmission pipelines of 64 kilometers lengths in several areas here in 2022 at a cost of around US$97 million (AED 358 million).The pipelines have a diameters of 600, 900 and 1200 mm in different areas across Dubai.The transmission pipeline...

Dubai, UAE - Middle Eastern airlines carriers posted a 38 percent increase in traffic in April compared to the same month in 2022, demonstrating a positive recovery trend in the aviation industry,  according to the latest report from the International Air Transport Association (IATA). With a capacity increase of 27.8 percent,...

Dubai, UAE - Dubai has scrapped the 10-day grace period for visitors whose tourist visas have expired, Arabian Business reported on Friday. Previously, individuals who overstayed their visas were allowed an additional 10 days in Dubai before facing penalties. However, Dubai has now followed other emirates in removing this grace period.Instead,...

Dubai, UAE - Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum on Thursday approved the new futuristic development masterplan of Palm Jebel Ali. Part of the Dubai 2040 Urban Master Plan, Palm Jebel Ali is one of a series of projects being undertaken by Dubai-based real estate master developer...