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.

Dubai, UAE -- Dubai Multi Commodities Centre hosted a China Business Day at Almas Tower, which drew more than 200 Dubai-based Chinese business leaders.DMCC said in a statement that the event celebrated the flourishing commercial ties between the UAE and China, with DMCC providing dedicated support to Chinese businesses looking...

Dubai, UAE - The passengers of Dubai Metro surpassed two billion since its inauguration on September 9, 2009, the Roads and Transport Authority (RTA) said.The metro's Red Line transported 1.342 billion commuters while the Green Line served 673.531 million commuters.Additionally, the Dubai Metro maintained a punctuality rate of 99.7%, surpassing...

The Group will acquire a 55 percent stake in Media 247.

DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has been awarded first place in UAE Ministry of Energy and Infrastructure’s ‘Research and Innovation Award’ in the government sector category for its contributions in the field of balanced national energy.The award recognizes DEWA's consistent efforts in research, development and innovation.The...

Dubai, UAE – Dubai’s real estate sector recorded deals worth AED157 billion ($42.75 billion) in the first quarter of 2023, an 80 percent increase from the same period last year.Transactions worth AED528 billion were recorded during the year 2022, a 44.7 percent  increase in volume and 76.5 percent increase in...

Firms will work together on nuclear, renewable energy.

The repurchase will be made through open market transactions.

Dubai, UAE – Dubai's real estate market recorded real estate transactions worth AED1.9 billion ($517 million) on Wednesday, Dubai Land Department said.The transactions included 505 sales transactions worth AED1.57 billion on Wednesday, in addition to 109 mortgage deals totaling AED278.53 million, and 10 gift deals amounting to AED48.1 million.The sales...

The emirate still remains at the top of the list of places to visit in the region because of the sheer diversity of products it has to offer and the infrastructure it has built.

Dubai, UAE - Dubai's real estate market recorded real estate deals worth AED1.8 billion on Monday, Dubai Land Department said.The deals include 496 sales transactions worth AED1.67 billion ($450m) on Monday, in addition to 107 mortgage deals totaling AED169.05 million ($46m), and 13 gift deals amounting to AED32.08 million ($8.7m).The...

Dubai, UAE - Dubai Electricity and Water Authority (DEWA) has won the Hydrogen Project of the Year 2023 Award for its green hydrogen project aimed at promoting the transition towards renewable and clean energy at the Hydrogen Future Awards 2023.The Hydrogen Future Awards was organized during the "Connecting Green Hydrogen...

Dubai, UAE -- KPMG Lower Gulf has been ordered by a Dubai court to pay more than $231 million to a group of investors who claim they lost money because of poor-quality audit work by the firm on a fund they were invested in.The judgment, issued late last month, found...

Dubai, United Arab Emirates--A fire in a residential building in Dubai killed 16 people and injured nine others in the wealthy Gulf emirate, local media reported.The fire broke out at midday Saturday on the fourth floor of the building in the Al-Ras neighbourhood in the old part of the city.The civil...

ABU DHABI, UAE - Brazilian President Luiz Inacio Lula da Silva arrived here Saturday, following a two-day visit to China to strengthen economic and diplomatic ties.The UAE's energy and infrastructure minister, Suhail bin Mohammed al-Mazrouei, welcomed the Brazilian leader at Abu Dhabi airport, local media reported.Lula, who in January returned to...

DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) successfully launched its second nanosatellite, DEWA SAT-2, aboard SpaceX’s Falcon 9 rocket from Vandenberg Space Force Base in California, USA.The launch of DEWA SAT-2 underlines the firm's commitment in using space technologies to improve the operations, maintenance and planning of electricity...