Pre-tax net profit of Dubai Financial Market rises 74% to $53m in H1 2024
Dubai, Saudi Arabia - Dubai Financial Market (DFM) today announced its consolidated financial results for the period ended June 30, 2024, with net profit before tax growing to AED 195.4 million (USD 53.2 million), marking a significant 74 percent increase over the same period in 2023.The first half of 2024...
Tabreed plans to divest its $113.5m stake in Qatar Cool
Tabreed, the Dubai-listed National Central Cooling Company, will divest nearly 44 percent of its stake in Qatar District Cooling Company (Qatar Cool).Dubai Investments to deliver $953m mixed-use projects by H2
The handover portfolio includes the final phase of the Mirdif Hills Project in Dubai and the Al Taif Business Center project in Fujairah.Dubai to develop as polyurethane innovation hub: Pearl
Pearl Polyurethane has appointed a new CEO as part of an ambitious growth plan to double the size of the Dubai-headquartered companyDubai property transactions up 50 percent in Q2: Report
Increased international interest has been a key factor in driving residential transactions to near-record levels. Dubai’s handling of Covid-19 pandemic has supported the post-lockdown demand from buyers who are drawn by visa reforms, the emirate’s quality of life and comparatively attractive pricing, according to a report.Damac Properties posts $27.5m net loss
Damac Properties, the Dubai-based developer, posted a net loss of $27.5 percent for the second quarter as compared to the loss of $77 million during the same period last year.Dubai records $1.2 billion realty deals
AED 2 billion worth of properties were mortgaged, the highest being a plot of land in Al Hebiah First, mortgaged for AED 333 million.Mulk JV to launch Alubond in US
The JV will launch Mulk’s Alubond brand of façade materials in the US.Dubai Tourism launches new trailer
This is the second instalment of the Dubai Presents campaign, and like the first one highlights some of Dubai’s most iconic locations.Dubai hotels may work full capacity
Under new Covid-19 directions for tourism sector, the number of participants in community events has been increased to 2,500 for indoor activities and 5,000 for outdoor functions with no mandatory vaccination.Palm Jumeirah beckons rich with its luxury
Dubai’s Palm Jumeirah has seen its sales and prices touch newer levels during the last few years, spurred by strong demand.Emaar Malls net profit leaps to $169m in H1
The owner of Dubai Mall attributes 80 percent jump in net to recovery in retail sector.Dubai airport to host a million travelers
More than a million passengers are expected to arrive at Dubai International (DXB) over the next 11 days in what could be the aviation hub’s busiest weekends so far this year.Dubai ropes in Hollywood stars for new tourism drive
Jessica Alba and Zac Efron are part of Dubai’s latest tourism campaign as it eyes global travel recovery and growth.$1.9 billion weeklong realty transactions in Dubai
An apartment in Marsa Dubai sold for AED 508 million and properties worth AED 4 billion mortgaged.Dubai issues regulations for 3D-printing in construction
The new legislation supports the emirate’s target to ensure that 25% of its buildings are constructed using 3D-printing technology by 2030.Best July in 12 years for Dubai real estate market
4,384 real transactions worth AED 11.18 billion made, majority of these in secondary, ready properties.Dubai airport expects heavy inflow of passengers as UAE eases curbs
Dubai airport is expecting a heavy inflow of passengers with the UAE’s announcement that there would be an easing of travel restrictions from African and Asian countries.Etihad Rail inks transport deal with Western Bainoona Group
Etihad Rail will now provide rail freight services to transport construction materials from Western Bainoona Group’s facilities to its construction hubs.Dubai-Korea relations strengthen with $882m bilateral trade in Q1
Imports had the lion’s share at AED2.551 billion, followed by exports at AED549.782 million, and re-exports at AED137.473 million, Ahmed Mahboob Musabih, Director General of Dubai Customs, said.Emerson to set up solar rooftop plant at Dubai head office
This is expected to be the largest solar rooftop plant in a single location within the Jebel Ali Free Zone.Etihad: Flight ban from India, Pakistan may stretch beyond Aug 7
Etihad extends suspension of passenger travel from India, Pakistan, Bangladesh, Sri Lanka from Aug 2 to Aug 7.Dubai’s ‘Museum of the Future’ listed among world’s 14 most beautiful ones
The Museum of the Future, an architectural marvel that sits at the bustling heart of Dubai, is set to become a new global landmark once complete. It has been designed by Engineer Sean Keila.Dubai RTA got $723m in revenues via digital platforms in 2020
The RTA’s Director-General Mattar Mohammed Al Tayer said this revenue came from just the authority’s e-payment portal and smart kiosks.UAE to set up waste-to-energy plants to get rid of trash
The United Arab Emirates is looking to construct a set of waste incinerators around the country in order to burn up two thirds of the trash.Dubai realty sales: Apartment in Marsa sold for $110m
88 plots of land sold for AED 620.22 million, and 1,135 apartments and villas were sold for AED 2.27 billion.Dubai to lower, waive off fees on govt services to boost growth
In order to give a fillip to economic activity in Dubai, its government will lower and in some cases completely waive off fees in 88 different categories.India, UAE agree on extending energy relations
India's new Minister for Petroleum and Natural Gas, Hardeep Singh Puri, makes courtesy calls to his counterparts in major oil producing countries in the Gulf, including Saudi Arabia, UAE, Qatar and Kuwait.85 percent of Dubai documents electronically archived in 2021
DGW says electronic archiving part of its efforts to develop a centralized digital archive compliant with international standardsBCCI announces remaining IPL match schedule across UAE
The 31 remaining matches of this year’s IPL will be spread across Abu Dhabi, Dubai, and SharjahDubai realty sales worth $4.02 bn recorded in June
Mohammed Bin Rashid City, Dubai Hills Estate, Dubai Land, Green Community and Town Square top top areas of interest for villas and townhousesDEWA commissions 3 new substations costing $11.70m
Courtesy DEWA, World Bank says firms in UAE can get electricity in the shortest time in the worldAfrica Oil Week temporarily moved to Dubai for 2021 edition
The Hyve Group will shift Africa Oil Week 2021 to Dubai from the usual venue of Cape Town in South Africa.Samana expands sales team with new GM
Samana also increases its sales workforce by 55% and doubles its sales revenue in 2021.Emirates launches new passenger service to Miami
Emirates flight EK213 was welcomed by Miami International Airport with a water cannon salute, and drew in an audience of passengers, aviation fans and guestsÂL&T wins contract for 132/11kV Dubai substation
L&T’s construction arm has won several orders in India and abroad, including one for a 132/11kV power substation in DubaiAl-Khaleej sets foot in Europe, to build $590m factory in Spain
Al-Khaleej to build a factory in Spain with an investment of $590m. It will produce 900,000 metric tons of sugar a yearDubai’s most expensive villa rental signed for $1.06 million
Dubai likely saw its most expensive villa rental deal, with a villa on Palm Jumeirah being rented annually for AED 3.88 million ($1.06 million)Ipsen expands into MEA with UAE headquarters
The French pharmaceutical firm has inaugurated its new regional headquarters in Dubai.Mohammed bin Rashid confirms board and advisory council of Dubai International Chamber
It is part of a recent government restructuring to drive a comprehensive economic development in Dubai It also aims to establish Dubai as a global trade hub and a favorite regional destination for global firms The ruler of Dubai, and Vice President and Prime Minister of...Mohammed bin Rashid sets up Dubai Academic Health Corporation
The new set-up will advance health services in Dubai through a new academic system It will integrate healthcare, medical education, and scientific research The ruler of Dubai, and vice president and prime minister of the UAE, Sheikh Mohammed bin Rashid Al Maktoum, has set up a new health body...Non-Arabs invest $87m in UAE markets from Jan-May 2021
Growth indicates a steady capital inflow into the two markets due to the increased investor confidence in UAE capital marketsDubai Investments buys additional NGI stake
Dubai Investments has acquired an additional 15.19% share of NGI from Emirates NBD Bank.Emaar marks sukuk listing with bell
Emaar Chairman rings Nasdaq Dubai bell to celebrate $500m Sukuk listing.Hyde to develop a five-star hotel in Dubai, first outside the US
Hyde will work with Emerald Palace Group to develop the property The hotel will be located in Business Bay For the first time in its history, Hyde will launch its first property outside the US in Dubai during the later part of the year. Hyde, a brand under global hospitality...Dubai authorities probe Jebel Ali Port blast
Dubai authorities were Thursday investigating an explosion on a container ship carrying flammable materials which unleashed a fireball at one of the world's busiest ports and sent shock waves through the city. Firefighters rushed to the scene at Jebel Ali Port to tackle the blaze that broke out shortly before...DP World makes offer to buy all outstanding shares of Imperial Logistics
DP World expects the deal to build supply chains especially in Africa Imperial Logistics has operations in 25 countries Dubai-based port operator DP World said on Thursday it has made an offer of $890 million to acquire all the outstanding shares of the Johannesburg Stock Exchange-listed Imperial Logistics, allowing it...Container ship blast rocks Dubai port, no casualty
An AFP correspondent at the scene said there was a helicopter circling overhead as smoke rose from the tightly secured facility Such events are a rarity in the ultra-secure Gulf emirate, one of seven that make up the wealthy United Arab Emirates A fire that broke out on a container...Emirates Auction to assist on-road broken-down vehicles
Dubai Police and the auctions firm have signed an MoU Emirates Auction will deploy a fleet of vehicles equipped with smart devices Sharjah: On-road broken-down vehicles will be provided assistance such as tire replacement, refueling and vehicle towing by Emirates Auction, a public and online auctions company in the Middle...Dubai’s consumer confidence surges to a ten-year high, signaling economic recovery
The second quarter of 2021 saw consumer optimism at its highest Consumer confidence rose to 151 points as against 125 points during the same period last year For the first time in nearly ten years, Dubai’s consumer confidence has risen to its highest level, signaling a momentum for broader...Dubai gets first commercial shipment of cherries from Kashmir
In future, Dubai and the other middle east countries will receive temperate fruits like plums, pears, apricot, and apples from Kashmir Kashmir produces over 95 percent of India’s production of commercial varieties of cherries The first commercial shipment of Mishri variety of cherries from Kashmir valley has been exported to...















































