50% of firms attracted to Dubai by DIC in 2023 Asian and Australian
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...
Dubai saw $1.8bn real-estate transactions last week
A total of 2,078 real-estate transactions worth AED6.6 billion ($1.8 billion) were conducted in Dubai during the week ending February 11.Dubai plans to attract 50 multi-national companies under a three-year strategy
Dubai plans to attract 50 multinational companies within three years and push the external expansion of 100 companies from Dubai to priority foreign markets within two years, Dubai media office said, citing Dubai International Chamber. The strategy is also aimed at supporting and motivating multinational companies to list on the...DEWA first in the world to win 8 stars in EFQM Innovation Lens
Dubai Electricity and Water Authority (DEWA) has achieved 8 stars level in the European Foundation for Quality Management (EFQM) Innovation Lens, becoming the first organization in the world to achieve this recognition. DEWA achieved a score of 800 on this award that measures innovation culture and its role in achieving...MENA Transport Congress Exhibition kicks off in Dubai
The fourth edition of the MENA Transport Congress & Exhibition began on Monday in Dubai.Dubai imposes tariff on single-use plastic bags to limit their use
Dubai has approved a policy to limit single-use plastic bags by imposing a tariff of 25 fils on such bags from 1 July 2022. The tariff will be implemented in all stores across Dubai including, but not limited to, retail stores, textile and electronic stores, restaurants, pharmacies, online and e-commerce...DP World Q4 volume up 2.6%
The gross container volumes rose by 9.4% year-on-year.Dubai Supreme Council of Energy approves 2030 carbon strategy
The approval came at a meeting chaired by the council’s chairman Sheikh Ahmed bin Saeed Al Maktoum.Saudi, UAE indices fluctuate through the week
From oil prices to company stocks buoyed by positive results, several factors resulted in changes in key benchmark indices.Dubai hosts 7m tourists in a ‘remarkable turnaround’
More than seven million foreign tourists visited Dubai last year, marking a "remarkable turnaround", the government of the Gulf city state hosting the Expo world fair announced Thursday. Dubai has since October 1 hosted Expo 2020 which runs until March 31.UAE to host International Conference on Space Operations next year
The Mohammed Bin Rashid Space Center (MBRSC) announced that it will host the 17th International Conference on Space Operations (SpaceOps 2023) for the first time in Gulf region, local media reports said. The conference will be held at the World Trade Centre in Dubai, UAE from March 6-10, 2023. Themed...Green Hydrogen Production among 98 new activities added to Dubai economy
A total of 98 new economic activities have been added to several sectors of Dubai in 2021, bringing the total number of economic activities to more than 2,200. In 2020, the Business Registration and Licensing (BRL) sector at the Department of Economy and Tourism (DET), Dubai, had added 52 new...Will corporate tax hit UAE businesses, consumers?
The new tax -- to be implemented in the UAE from 1 June 2023 -- comes at a time when speculations are rife that other Gulf countries might also impose taxes on economic sectors.Latest tech in focus as UAE celebrates innovations
UAE Innovates 2022, described as the largest innovation festival in the world, seeks to instill a culture of innovation and engage the community in innovative experiences.Dubai Academic Health Corporation embarks on four-pronged future plan
The Dubai Academic Health Corporation has agreed on four bases as a part of its strategic plans and future goals. The bases include Care: to set the global standard for evidence-based patient care and outcomes; Learning: to deliver transformative education and a future-ready workforce. The other two bases cover Discovery:...Spend a night under stars in these trendy Dubai destinations
Overnight camping is one of the popular activities people indulge in during winters in Dubai. The city has several unique spots for enjoying a night under the stars, which are among a diverse set of attractions being promoted by the #DubaiDestinations initiative recently launched by the Dubai Media Council. Hatta...UAE, Israel discuss ways to boost cooperation under Abraham Accords
Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and President of Israel, Isaac Herzog, on Sunday deliberated aspects of cooperation under the Abraham Accords Peace Agreement, signed by the two nations in 2020, in addition to a number...Dubai sees weeklong real estate transactions worth $1.33bn
This was the result of a total of 1,724 transactions, according to figures released by the Dubai Land Department.TASI starts low; Emirati markets gain
The Emirati indices managed to show gains throughout the week, while the Saudi index was unchanged.Record real estate deals in 2021 will drive the sector in next 50 years: DLD
The record real estate transactions will contribute to driving the sector in the next 50 years during which the UAE seeks to build the best economy globally, Dubai Land Department said on Friday. A total of 84,196 real estate transactions worth almost AED 300 billion ($81.67 bn) were recorded last...Dubai embraces enigma of costliest black diamond
The design of the bloack diamond Enigma is based on the Middle Eastern emblem of the palm — also known as “khamsa,” “hamsa,” or "the five".UAE and Amazon subsidiary to create cloud-based medical record system
The UAE's Ministry of Health and Prevention (MoHAP) has signed a memorandum of understanding (MoU) with Amazon Web Services (AWS), a subsidiary of Amazon, to enhance bilateral cooperation. The MoU also covers organizing workshops on creating a cloud-based electronic medical record system and a healthcare portal focused on serving the...Dubai supports expansion of financial markets in UAE : Minister
Finance Minister of Dubai Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum affirmed that his government provided all support needed for the growth of the financial markets operating in the Emirate through developing legislative framework and infrastructure to allow exchanges to consolidate their presence regionally and globally. Sheikh Maktoum added...Dubai Islamic Bank profit rises
Its net profits increased by 39 percent in 2021 to AED 4.4 billion.Tourism helps UAE add $158bn to GDP in six years
Around 31 million visitors are expected to enter the UAE yearly by 2025 as the country has initiated several measures to revitalize the tourism sector, particularly eco-tourism.Expo 2020 records close to 11m visits so far
Expo 2020 Dubai has recorded 10,836,389 visits as of 24th January, while the virtual visitation reached 72.5 million.e-Trader licenses issued by Dubai’s BRL up 6 percent in 2021
The Business Registration and Licensing (BRL) unit of Dubai’s Department of Economy and Tourism (DET) has issued 16,409 e-Trader licenses since its launch in March of 2017 till end of 2021. The BRL sector also reported that the total number of e-Trader licenses issued in 2021 reached 6,217, a six...Dubai’s energy demand up by 10 percent in 2021, T&D losses down
DEWA achieved a new world record in electricity Customer Minutes Lost (CML) per year, recording 1.66 minutes in DubaiDubai Land Department and three firms team up to provide real estate data
Dubai Land Department (DLD) has signed memoranda of understanding (MoUs) with three companies that specialize in providing smart and advanced real estate solutions: Bayut, DXBinteract.com, and Property Finder. Local media reports said the MoUs aim to provide Dubai’s real estate market with the best solutions that rely on data and...Dubai most popular holiday destination for 2022
The city overtakes London in the list of the "Top Destinations Around the World". Golden beaches, world-class restaurants, rave reviews of visitors have contributed in Dubai's top ranking.Dubai records $1.11 billion worth of weeklong real estate deals
A total of 1,99The real estate and properties transactions valued at AED4.1 billion were recorded in Dubai during the week that ended on 21 January 2022. The transactions included 287 plots that were sold for AED1.08 billion, while 1,059 apartments and villas were purchased for AED2.25 billion. The top three...DEWA inaugurated 16 new power substations costing $797m in 2021
Dubai Electricity and Water Authority (DEWA) has inaugurated 16 new substations in 2021 at the cost of about AED2.928 billion ($797 million). These include fourteen 132kV stations with a conversion capacity of 2,100 megavolt amperes and two 400kV stations with 4,000 megavolt amperes in the Mohammed bin Rashid Al Maktoum...TASI rises for 10th session, UAE bourses fluctuate
The surge in oil prices fueled the start of the week's high for the Saudi stock market, while the UAE indices fluctuated throughout the week.Dubai Crown Prince forms committee to oversee Hatta development
Dubai Crown Prince and Chairman of The Executive Council of Dubai Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum has issued an Executive Council Resolution forming the ‘Supreme Committee to Oversee the Development of Hatta’. The Hatta Master Development Plan, which forms an integral part of the Dubai 2040 Urban...DEWA says 35% of work completed on Hatta power plant
The project is also part of DEWA’s initiative to develop the area to meet its social, economic, and environmental needs.Two day long Water-Food-Energy Summit concludes in Dubai
In order to explore solutions for water, food, and energy challenges, the UAE, Jordan, and the Netherlands wrapped up the inaugural edition of the Water-Food-Energy (WFE) Summit.Dubai issues 72,152 new business licenses in 2021, 59 percent professional
Dubai issued 72,152 new business licenses in 2021, a growth of 69 percent compared to 2020 when 42,729 licenses were issued. According to the official data, 59 percent of new business licenses issued in 2021 were professional and 41 percent were commercial. Bur Dubai accounted for the largest share (48,562)...Dubai Airport Show 2022 to showcase digital innovation
Dubai Airport Show 2022, to be held in May, will showcase a diverse range of innovative products and will provide a glimpse of investments planned by the world's airports until 2040.Winners of 2022 Zayed Sustainability Prize honored for community services
The 2022 Zayed Sustainability Prize has been awarded to 10 winners who have contributed towards achieving sustainable development in their communities. The award ceremony coincided with the start of the 2022 Abu Dhabi Sustainability Week (ADSW) on Monday. Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum, who gave away the...Expo 2020 hits a new milestone with 10m visits so far
Expo 2020 Dubai visitor numbers continue to rise, reaching 10,188,769 visits as of 18th January, while Expo 2020 Dubai’s virtual visitation passed the 65 million mark.Israeli tech firms line up for UAE manpower
Dozens of Israeli high tech companies are keen to open units in Dubai or Abu Dhabi after Rapyd's decision to open its office in UAE. "The attraction of this option is that it can be a means for companies to lure much needed manpower that cannot be brought to Israel,"...Arada enters Dubai market
Full details will be revealed at the sales launch, scheduled to take place in the third quarter of 2022.Jordan’s ISSF to invest $1.5 million in Dubai-based Global Ventures
The Innovative Startups and SMEs Fund (ISSF) will invest $1.5 million in Global VenturesBlack diamond worth $5m goes on display in Dubai
The world's largest known cut diamond went on public display for the first time Monday ahead of its sale, when it is expected to reach five million dollars.Empower begins to operate a new cooling plant in Dubai
Emirates Central Cooling Systems Corporation (Empower) has started operating the first phase of its new District Cooling plant in Za’abeel, Dubai, with a cooling capacity of 27,750 refrigeration tonnes (RT).Dubai records biggest real estate deals worth $41bn in 12 years
During the course of last year, Dubai real estate saw a momentous growth, resulting in deals worth close to $41.1 billion, the highest value since 2009.Dubai eyes top global livability spot
DET and HSBC Bank Middle East have signed a Memorandum of Understanding (MoU), paving the way for increased cooperation in further enhancing Dubai’s position as a global livability destination.GCC markets remain mixed amidst Omicron woes
Despite an increase in Omicron cases across the world, investors remain confident in the Saudi stock market. The UAE markets, meanwhile, stay cautious.Dubai saw real-estate deals worth $1.23bn this week
During the week ending January 14, the transactions numbered 1,559, according to the Dubai Land Department.DEWA launches nanosatellite
DEWA-SAT 1 was launched on a SpaceX Falcon 9 rocket.DEWA invites people to live coverage of its nanosatellite launch
The U3 nanosatellite was designed and developed at DEWA’s R&D Centre