Dubai, UAE -- Dubai real estate market has recorded deals worth AED 2 billion ($544 million) on Monday, Dubai Land Department said.The deals include 638 sales transactions worth AED 1.79 billion, in addition to 116 mortgage deals of AED188.46 million, and 17 gift deals amounting to AED 29.45 million.The sales...

DUBAI, UAE -  Chairman of the Dubai Supreme Council of Energy Sheikh Ahmed bin Saeed Al Maktoum chaired the 76th meeting of DSCE which was held virtually in the presence of Saeed Mohammed Al Tayer, Vice Chairman of the Council.Saeed Mohammed Al Tayer, also the MD and CEO Dubai Electricity...

Dubai, UAE -- Dubai luxury real estate market transactions hit a new high in May, with a four-bedroom penthouse in Bulgari Resort and Residences selling for a record AED122 million ($33 million), making it the most expensive ready penthouse to ever be sold in the emirate.The 12,113-square-feet property boasts views...

The company's EBITDA for the quarter was $310 million.

The emirate achieved an 89.5 percent year-on-year growth in 2022 and Foreign Direct Investment capital inflows of $12.79 billion. The emirate's share of global Greenfield FDI projects in 2022 reached 4 percent, said Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and Chairman of Dubai Executive Council.

DUBAI, UAE -  The Gem and Jewelry Export Promotion Council (GJEPC) has launched a first-of-its-kind India Jewelry Exposition Center (IJEX) here during a special event to commemorate the first anniversary of the UAE-India Comprehensive Economic Partnership Agreement.Announced during the CEPA Beyond Trade celebration, IJEX will provide a platform for India’s...

Dubai, UAE - Dubai has given a boost to its beach tourism by opening three new beaches for night swimming in Jumeirah 2, Jumeirah 3 and Umm Suqeim 1.The 800-metre-long night-swimming beaches feature lighting systems, which enable residents and tourists to swim around the clock, and electronic screens that display...

The emirate's luxury home sales surged to $1.63 billion in Q1 2023, as affluent buyers acquired 88 units exceeding $10 million, signaling a sustained rise in prime property sales amid broader economic rebound.

DUBAI, UAE - The UAE presented its legislative ecosystem - which regulates the local labor market, provides social security and ensures decent social security to workers - the UN’s Human Rights Council (HRC).Several UAE federal, local government entities and civil society organizations were part of the delegation for the country’s...

The Group's income also saw an increase of 34 percent.

GCC countries are investing in infrastructure and programs to become leading tourist destinations. With strategic locations, excellent connectivity, iconic attractions like the tallest building, and a commitment to eco-friendly tourism, they are poised for success in attracting visitors from around the world.

DUBAI, UAE - Dubai Chambers has hosted a workshop for commercial attachés of EU Diplomatic Missions to provide them with an overview and key highlights of the UAE's Corporate Tax Law.The workshop, organized  in collaboration with Al Tamimi & Company Law Firm, brought together 13 officials representing the commercial interests...

DUBAI, UAE -  The UAE has topped several global labor market indices issued by international entities and institutions in a new accomplishment that reflects UAE’s pioneering global model for development.The UAE ranked first globally in the Talent Attractiveness Index as per the Global Prosperity Index 2023, issued by the UK’s...

Dubai, UAE -- A total of 3,112 real estate and property transactions, valued at AED 9.4 billion ($2.55 billion), were conducted during the week ending May 12, according to figures released by the Dubai Land Department (DLD). The DLD weekly real estate report noted that 170 plots were sold for...

The firm recorded a net profit of $873 million.

Aramex said revenue was impacted by currency fluctuations, etc.

The group declared a dividend of $1.2 billion to its owner.

Dubai, UAE: The economic potential of the Middle East-China trade corridor was the focus of discussion at an exclusive International Connections briefing organised by HSBC and the UAE China Business Council, for Chinese businesses and clients based in the UAE.HSBC hosted Chinese ambassador to the UAE Zhang Yiming and a...

The company's revenue for the quarter was $5.2 billion.

Revenue increased to $33.21 million, up 16 percent.

Dubai, UAE - A delegation of Palestinian business executives including 21 start-up representatives visited Dubai Chamber of Digital Economy.It is the first-ever business meeting between Dubai and Palestine, with the delegation involved in 237 meetings, one of the highest ever.Participants at the event included Hashim Shawa, Chairman of Bank of...

Dubai, UAE: Dubai Electricity and Water Authority (DEWA) announced the pilot use of ChatGPT, since April 2023, on its website through Rammas, DEWA’s virtual employee, to enhance customer experience.The step has been taken as part of the company’s strategy to employ Artificial Intelligence (AI) technologies across all its operations and...

Growth in revenue driven by surge in demand for electricity, water.

DUBAI, UAE -  The private sector and financial institutions in the Middle East should enhance reporting by including information about how they both impact and depend upon nature and natural capital, says a report.   The report titled 'Nurturing Natural Capital: The Middle East Imperative' was released by the World Government Summit,...

Dubai, UAE -- More than 40,000 people – including 30,000 visitors – attended the 30th edition of Arabian Travel Market (ATM), which concluded last week in Dubai.This not only represents a year-on-year increase of 29 percent in attendees compared to 2022, but it also represents a 5 percent increase over...

The present market conditions indicate that investing in real estate assets, especially in beachfront destinations, is opportune. These destinations are expected to significantly contribute to the growth of the UAE's prime real estate sector in 2023 and beyond, with no signs of this trend diminishing.

Dubai, UAE - The UAE is on track to become a global hybrid working hub, a new report by Workspace has revealed. Workspace is one of the Middle East’s leading trade show for workplace technology and solutions.  According to the report, 98 percent of UAE businesses revealed that they would invest in...

Dubai, UAE -- A total of 3,050 real estate transactions worth AED10.4 billion ($2.83 billion) were recorded in Dubai during the week ending 5th May 2023, according to figures released by the Dubai Land Department (DLD).The DLD report showed that 189 plots were sold for AED1.19 billion, 2,239 apartments and...

The company posted a 5.7 percent year-on-year growth in net profit.

Dubai, UAE – The UAE announced on Thursday that companies will be subject to fines of up to AED 500,000 ($136,147) for failing to meet Emiratization targets.The announcement made by the Ministry of Human Resources and Emiratization (MoHRE) follows the implementation of UAE Cabinet Resolution No. 44 of 2023, which...

DUBAI, UAE -  Dubai Electricity and Water Authority (DEWA) has added Samsung Pay to its many options for customers to pay their bills conveniently and securely on various digital channels.DEWA is the first government entity in Dubai to adopt the Samsung Pay option within its digital channels. Users can benefit...

Dubai, UAE - ZāZEN Properties, a sustainable property developer in the United Arab Emirates (UAE), has noted a surge in demand for one-bedroom apartments in Dubai. With overall property prices increasing, residents are searching for the best ways to invest their money, whether as a long-term profitable option or to live...

Revenue is due to demand for fixed, mobile services.

Dubai, UAE -- April 2023 was the best month in a decade for Dubai's real estate market, both in terms of the number of transactions and the value of these deals.The number of transactions grew by 17 percent to 8077 in April 2023, from 6898 transactions in April 2022, according...

Iranian forces seized a Panama-flagged oil tanker in the Strait of Hormuz, the US Navy said, the second such incident in less than a week. The tanker, Niovi, was sailing from Dubai towards Fujairah, another port in the UAE, when it was stopped by Iran's Islamic Revolutionary Guard Corps Navy.

Dubai, UAE - Dubai Electricity and Water Authority (DEWA) has added 200 MW of clean energy from the fifth phase of the Mohammed bin Rashid Al Maktoum Solar Park ahead of schedule. With this addition, the solar park's current production capacity is now at 2,327MW using photovoltaic solar panels and Concentrated...

Dubai, UAE - Dubai-based consumer technology holding group Astra Tech has launched the world's first "Ultra app" - Botim 3.0. The app is a combination of fintech, e-commerce, GPT, and communications in a single user experience, built on top of a communication platform. Botim GPT is an executional GPT that leverages AI...

DUBAI, UAE- DIFC Academy announced a collaboration with PwC’s Academy to offer a globally recognized diploma program aimed at upskilling tax practitioners in the UAE.Under the deal, DIFC Academy will offer the UAE Corporate Tax Diploma Program in collaboration with PwC’s Academy, becoming the first institution alongside PwC’s Academy to...

Dubai, UAE-- The World Free Zones Organisation’s (World FZO) ninth Annual International Conference & Exhibition (AICE) will begun in Dubai from today. Held under the theme ‘Global Trade 2.0: Zones, An Ecosystem of Trust Driving Prosperity,’ this year’s two-day event reflects the organisation's commitment to facilitating the contribution of free...

Dubai, UAE - The UAE government has launched a comprehensive guide for the adoption of generative AI applications in the country. The guide was issued by the Artificial Intelligence, Digital Economy and Remote Work Applications Office “to intensify research and efforts towards promoting the adoption of futuristic technologies in government work...

DUBAI, UAE - The 30th edition of Arabian Travel Market (ATM) will open Monday at Dubai World Trade Center (DWTC), local media reports said.The event, on May 1-4, will see global travel, tourism, and hospitality experts come together to explore how their industry is ‘Working Towards Net Zero’.For ATM 2023’s...

The agreement also provides for the creation of a cohesive relationship between the ministry's strategic priorities and training needs, as well as offering training programs that improve the personal abilities and skills of employees. This, in turn, contributes to increasing job satisfaction within the ministry.

DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) affirmed its commitment to achieve the 'We the UAE 2031' vision to position the Emirates as one of the top 10 countries globally in the 'Human Development Index'.The 'We the UAE 2031' vision was launched by Sheikh Mohammed bin Rashid Al...

DUBAI, UAE - Dubai’s Department of Economy and Tourism (DET) is likely to display the diversity of the Emirate's destination, offering sustainability platforms and highlighting new initiatives designed to boost the tourism industry during the 30th edition of Arabian Travel Market(ATM), local media reports said.This year’s ATM, from May 1-4...

The group's revenue doubled, reaching $0.87 billion.

Dubai, UAE -- A total of 2,049 real estate transactions worth AED10.8 billion ($2.94 billion) were conducted during the week ending 28 April 2023, according to the Dubai Land Department (DLD).The DLD report said that 172 plots were sold for AED 1.58 billion, while apartment and villa sales stood at...

The bank's total income exceeded AED 10bn for the first time.

Dubai, UAE - DP World Limited, a global container terminal operator based in Dubai, has reported an increase in container volumes during the first quarter of 2023. The company handled 19.5 million TEUs across its global portfolio, which is a 1.4 percent increase on a reported basis and a 3.7 percent...

Dubai, UAE - Arabia Taxi, a subsidiary of Economic Group Holdings in the UAE, has signed an agreement with Tesla Motors to add 269 Model 3 cars to its Dubai taxi fleet. This is part of a larger strategy by the Roads and Transport Authority in Dubai to convert all taxi...

The country increased its military spending by 16 percent to reach an estimated $75 billion, surpassing the United Kingdom, Germany, and France.