DUBAI, UAE – Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has achieved significant growth in membership during 2023. A total of 48,616 new member companies registered between January and September this year, representing an impressive year-over-year (YoY) increase of 42.9 percent...

War with Palestinians disrupts Israel's gas exports, causing economic losses and altering energy strategies.

DUBAI, UAE - Fitch Ratings has affirmed the critical role that COP28 will play in raising awareness of sustainability issues in the region and steering investment and financial requirements towards a more environmentally responsible approach. Bashar Al-Natoor, Global Head of Islamic Finance and Managing Director at Fitch Ratings, expressed optimism...

DUBAI, UAE – Dubai Customs has experienced a robust 13 percent increase with 21.6 million transactions during the first nine months of this year. This surge contrasts with the 19 million transactions recorded during the same period last year. The upswing aligns with the targets of Dubai’s economic agenda D33,...

Announced in February 2021, Saudi Arabia's regional headquarters (RHQ) program is widely seen as a bid to compete with Dubai in the neighboring United Arab Emirates, a favorite base for global firms with business in the Middle East. Despite complaints from some executives that there remains a lack of clarity...

DUBAI, UAE – Tawazun Council signed 16 deals, worth US$1.3 billion (AED 4.87 billion), with local and international companies on behalf of the Ministry of Defense on the fourth day of the Dubai Airshow 2023. UAE’s Tawazun Council is an independent government entity that works closely with the defense ministry....

Pausing of rate hikes by global central banks amid fluctuating inflation rates influences global markets, with specific impacts in the MENA region, says a new report.

DUBAI, UAE - EDGE, one of the world's leading advanced technology and defense groups, announced its first major order from the UAE Armed Forces for the locally-manufactured REACH-S fixed-wing UAV. Announced at the Dubai Airshow, the order to supply 100 REACH-S is the first of its kind for the for...

Dubai, UAE - Dubai-based Emirates on Thursday announced an order for 15 long-haul Airbus A350-900s, bringing to 110 the number of additional aircraft the company has ordered at this year's Dubai Air Show. "The A350-900s will add to our fleet mix and we are pleased to announce additional orders for this...

The UN's World Meteorological Organization said levels of the three main greenhouse gases -- the climate-warming carbon dioxide, methane and nitrous oxide -- all broke records last year.

"Once we've reached about 120 million (passengers a year), which is what we think our total capacity at DXB (Dubai International) is at the absolute maximum with everything optimized, we are going to need a new airport," Dubai Airports CEO Paul Griffiths said.

DUBAI, UAE – Tawazun Council announced the signing of 11 deals, worth US$1.8 billion (AED 6.9 billion), with local and international companies on the second day of the Dubai Airshow 2023. Tawazun Council is an independent government entity that works closely with the Ministry of Defense and security agencies to...

The transaction is worth $3.2 billion, reports say.

Dubai, UAE - UAE's Tawazun Council, an independent government entity that works closely with the Ministry of Defense and security agencies to maximize value through acquisition systems, announced signing of nine deals worth $1.27 billion with local and international companies on day 1 of the Dubai Airshow 2023. The announcement...

Dubai, UAE--ENOC Group will reach more than one billion gallons of jet fuel sales at the end of this year by supplying more than 153,000 commercial, military, and general aviation flights around the world. The company made the announcement on the sidelines of the 18th edition of Dubai Airshow, which...

Emirates, the Middle East's biggest airline, made the largest purchase with its $52 billion order for 55 Boeing 777-9s, 35 777-8s and five 787 Dreamliners. The 777-9s are expected for delivery in 2025 and the 777-8s are scheduled for 2030.

This is the toll operator's highest Q3 revenue since 2007.

This will help HR teams improve business operations.

Dubai, UAE -- Dubai Taxi Company Monday announced its intention to proceed with an Initial Public Offering (IPO) and to list its ordinary shares for trading on the Dubai Financial Market (DFM). In a statement on Monday, the company said that 624.750 million shares, each with a nominal value of...

DUBAI, UAE – The biggest edition of the Dubai Airshow, a significant global event for the aerospace, space and defense industries, will begin here on Monday. Under the theme ‘The Future of the Aerospace Industry’, the 18th edition of the event, which runs till November 17, will see industry trailblazers...

DUBAI, UAE – The Dubai Land Department (DLD) is committed to providing property owners with easily accessible resources to reinforce transparency within the real estate market and promote adherence to relevant laws and regulations. The official list of accredited companies and valuation offices is available on DLD’s official website (dubailand.gov.ae)...

Dubai is actively implementing climate adaptation strategies and technologies in transportation and infrastructure to mitigate climate change effects and enhance the city's resilience.

The revenue was driven by demand for electricity, water.

Dubai, UAE -- The total value of real estate transactions conducted in Dubai during the week ending 10 November 2023, exceeded AED 10.3 billion ($2.80 billion), according to figures released by the Dubai Land Department (DLD). The DLD report showed that 1,782 sales transactions worth AED7.4 billion were conducted, with...

Riyadh, Saudi Arabia - Saudi Arabia said on Thursday that policies to address climate change should not "crush the bones" of countries grappling with energy poverty, ahead of the COP28 climate talks in Dubai. Speaking at a conference on economic cooperation with Africa, the Gulf kingdom's energy minister Prince Abdulaziz bin...

This is due to the successful launches of new projects.

The emirate’s solar energy capacity has increased by over 100 times in the past decade, and the cost of solar energy has fallen dramatically. It is now one of the cheapest places in the world to generate solar power.

The operating income of the group rose to US$234 million.

The company posted a 44 percent growth in revenues for 9M-period.

Dubai, UAE - Dubai government's general budget for the fiscal cycle of 2024-2026 includes total expenditures of $67.16 billion (AED 246.6 billion), reflecting the emirate's commitment to stimulate economic recovery and growth. A total of 34% of total government expenditures of the 2024 budget goes to the social development sector...

Dubai, UAE-- Describing the COP28 as a huge moment for the world and the UAE, Andrew Griffith, Economic Secretary to the UK Treasury, said the whole world's eyes "will be here." Speaking to the media in Dubai, he said that sustainable finance will be central to the global event. He...

DUBAI, UAE - The Ministry of Human Resources and Emiratization (MoHRE) has launched awareness guidebooks for private sector companies and Emirati private sector employees to raise awareness on Emiratization-related decisions and initiatives in the country. The guidebooks also provide information on the benefits provided by both the Ministry and Nafis...

Dubai, UAE - Middle East powers should maintain their push to de-escalate the region through trade and economic ties despite the Israel-Hamas war, a senior United Arab Emirates official said on Saturday. The sudden flare-up in Gaza, after a deadly attack by Hamas, follows a period of fence-mending in the region including...

Firm paid cash dividend of US$115 million.

DUBAI, UAE –The Dubai Customs apprehended a traveler arriving from a European country who was trying to smuggle various small drugs that were cleverly concealed within his luggage. The items included 292 hallucinogenic pills, five hallucinogenic stamps, 13.84 grams of hallucinogenic powder, 7.38 grams of crack cocaine and 274.59 grams...

DUBAI, UAE - Bahrain has recalled its Ambassador from Israel and decided to suspend economic relations with Tel Aviv in a show of support for the Palestinian people. Bahrain’s move comes amid Israel’s actions in the Gaza Strip, the Council of Representatives which is the lower house of parliament of...

The MoU will enable UAE-based firm to enter Angolan market.

The first proposed interim dividend is of $81 million.

To encourage renewable energy, Iraq's Central Bank in 2022 announced the allocation of $750 million in almost zero-interest loans for individuals and private companies adopting solar power. But the initiative is "stalling due to a lack of cooperation from banks", according to Mohamed al-Duleimi, an expert in renewable energies.

Dubai's evolution from a simple fishing village to a premier global tourist hub is credited to its innate advantages, deliberate investments, and cohesive destination development.

Abu Dhabi, UAE - Setting up a "loss and damage" fund for poorer nations hit by climate change dominated preliminary talks on Tuesday, one month before COP28 in Dubai where delegates look set to tussle over the future of fossil fuels. Around 70 ministers have gathered since Monday at the Emirates...

Dubai, UAE -- Dubai recorded 116,116 real estate transactions worth AED 429.67 billion ($116.98 billion) during the first nine months of 2023, recording more than 36.7 percent in value and 33.8 percent in the number of transactions compared to the same period in 2022. Real estate investments also witnessed steady...

Dubai's transformation from a humble fishing village to a global tourist powerhouse is nothing short of remarkable. Just decades ago, it was a budding coastal town with limited allure. However, the discovery of oil in the 1960s ignited a metamorphosis, with the government astutely channeling wealth into infrastructure, iconic landmarks,...

It posted a profit of $630 million in January-September 2023.

Paris, France -- Facing record-shattering temperatures and a geopolitical tinderbox, countries are scrambling to lay the groundwork for crucial UN climate talks next month tasked with salvaging global warming goals laid out in the landmark Paris deal. Ministers meet next week in the United Arab Emirates to grapple with flashpoint issues,...

Cities like Dubai and Riyadh are harnessing AI to redefine every facet of property dealings, from development to management, Tripler CEO Sam Singh tells TRENDS.

RIYADH, SAUDI ARABIA - GFH Capital is considering the offering of its unit in Saudi Arabia on the Tadawul. GFH Group's plans are unchanged with regard to listing in other markets, CEO Razi Al Murbati said. The group is listed on the stock exchanges of Bahrain, Dubai, Abu Dhabi and...

Dubai, UAE -- Dubai has retained its leading position in the MENA region on Kearney's Global Cities Index, ranking 23rd globally and claiming a spot in the top 25 for the third consecutive year. According to the report, prominent emerging hubs around the world, particularly in the Middle East, have...

The company had reported a net profit of $540 million for Q2.

The bank's income increased by 35.4% year-on-year.