DUBAI, UAE –   Bitay, a cryptocurrency platform from Turkey, announced its expansion into the UAE's burgeoning crypto market.The UAE, which has an impressive 99% internet penetration rate according to a McKinsey study, welcomes Bitay.This move aligns with the UAE’s growing stature as a global digital hub and its emphasis on...

Dubai's skyline epitomizes modern development, with its appeal bolstered by strong property management and developers capitalizing on increasing sales.

In the GCC, online market growth surpasses offline, driven significantly by Saudi Arabia, amid intense competition where local brands increasingly stand out.

In the GCC, online market growth surpasses offline, driven significantly by Saudi Arabia, amid intense competition where local brands increasingly stand out.

"Given our numerous capabilities, we consider Iran’s membership in BRICS and the SCO as well as participation in other regional alliances very effective," Raisi stressed.

The airline is likely to carry 300m passengers a year by 2034.

DUBAI, UAE - Bahraini authorities have agreed to offer prisoners extra rights, including more visiting hours, following a mass hunger strike that activists say is the largest in the country's history.The interior ministry late on Monday said it would "increase the duration of visitations" and was looking to raise the time...

The partnership aims at enhancing trade infrastructure.

DUBAI, UAE - The global Islamic microfinance industry has surpassed US$60 billion in value within the $3.8 trillion Islamic finance landscape.This achievement highlights the growing recognition of Islamic microfinance as a tool for poverty alleviation. The industry's potential to bridge financial gaps while adhering to Shariah principles positions it as...

Dubai, Riyadh - PureHealth, the largest healthcare group in the Middle East, has entered into an agreement to acquire Circle Health Group, the UK's largest independent operator of hospitals, for a substantial AED 4.41 billion ($1.19 billion). PureHealth's existing roster of companies includes healthcare names such as SEHA – Abu Dhabi...

Cairo, Egypt - Egyptian Minister of International Cooperation Dr. Rania Al Mashat, said the 28th Conference of the Parties to the UN Framework Convention on Climate Change (COP28) is likely to address climate change issue and its effects on countries and people, local media reports said.The UAE will host COP28...

Dubai, UAE -- A total of 3,229 real estate transactions worth over AED 23.1 billion ($6.28 billion) were conducted during the week ending 25th August 2023, according to figures released by the Dubai Land Department (DLD).The DLD report showed that 183 plots were sold for AED 1.33 billion, while 2,361...

Dubai, UAE - Savings deposits held by UAE banks, excluding interbank deposits, totaled approximately $73.01 billion (AED268.6 billion) by the end of June 2023. According to the latest data from the Central Bank of the UAE, these deposits experienced a monthly growth rate of 5.8%, equivalent to an increase of...

DUBAI, UAE - The Customs Intelligence Management within Dubai Customs has successfully thwarted two separate attempts to smuggle controlled drugs and restricted medications via air shipments into the country.The total haul amounted to 171,600 pills and these operations underscore the department's resolute stance against illicit activities.In the first operation, a...

Surpassing pre-pandemic levels, more than 40 million passenger visits were recorded at Dubai international airport in the first half of the year, a 50 percent jump. According to its operator, the airport, busiest for international passengers before Covid-19, the passenger traffic went well past the number recorded in the first...

Aim is administration of Employee Money Purchase schemes.

Dubai, UAE - Dubai International Chamber hosted a B2B event during the Wuxi – Dubai Economic & Trade Exchange Conference to explore business and investment opportunities between Dubai and Wuxi City.The event was organized in partnership with the Wuxi Municipal Government and Wuxi National High-Tech Industrial Development Zone.It welcomed a...

The liquid enhances efficiency of energy storage systems.

Dubai, UAE - Dubai's real estate market continues its upward trajectory, with house prices rising by 4.8% in Q2 2023, marking the 10th consecutive quarter of growth, according to a report by global property consultant Knight Frank. This growth trend has led to an average increase of 24% in residential...

Dubai, UAE -- Real estate transactions valued at more than AED 10.4 billion ($2.83 billion) were recorded in Dubai during the week ending 18 Aug 2023. Of the total 3,571 transactions,120 plots were that sold for AED1.2 billion and 2,782 apartments and villas were that went for AED6.86 billion.The top...

Business travel spending hit $23bn in 2022, nearing pre-pandemic levels as post-pandemic business trips get longer, supported by UAE's digital nomad and freelancer programs.

Dubai, UAE -- Dubai's real estate market recorded deals worth AED 2.4 billion ($653 million) on Thursday, according to Dubai Land Department.The deals included 591 sales transactions worth AED1.76 billion on Thursday, in addition to 125 mortgage deals totaling AED613.72 million, and 36 gift deals amounting to AED98.44 million.The sales...

The company's revenue grew 13.9 percent to $9.03 billion.

Dubai, UAE - Dubai has started using robots that employ X-Rays and other latest AI technologies to carry out automated chemical analysis and tests on various types of cement and other construction materials.The cement testing services are linked to a smart platform for laboratory testing services in Dubai Central Laboratory...

DUBAI, UAE - MD and CEO of Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer said on Wednesday that Saudi Arabia’s ACWA Power is the “preferred bidder” for the construction and operation of the 180 Million Imperial Gallon per Day (MIGD) Sea Water Reverse Osmosis Hassyan Phase 1...

Abu Dhabi, UAE – Real estate markets of UAE capital Abu Dhabi and Dubai demonstrated resilience in the face of rising interest rates and inflation in the second quarter, with Dubai realty market outperforming many if its peers worldwide, a report said.The report by Asteco, a full-service Real Estate company,...

YOKOHAMA, JAPAN - Dressed up and ready for battle, around 10,000 Pokemon fans have descended here this weekend, looking for fun but also collector's item cards potentially worth serious money.Since the launch of Pokemon cards in 1996 following the hit computer game of the same name - meaning "pocket monsters" -...

Dubai, UAE - A total of 3,103 real estate and properties transactions valued at approximately $2.64 billion in total were conducted during the week ending 11th August 2023, according to the Dubai Land Department (DLD).The weekly DLD report noted that 235 plots were sold for about $609 million, 2,302 apartments...

Consolidated revenue of DEWA rose 4.1 percent in Q2.

The company achieved property sales of $5.5bn in the period.

Dubai, UAE - Dubai International Chamber attracted 56 businesses to the emirate during H1 2023, including six multinational corporations and 50 Small and Medium-sized Enterprises (SMEs), local media reports said.It also supported the expansion of 15 local and national companies into global markets, either by increasing their exports or helping...

Dubai, UAE -- Dubai's real estate market recorded real estate deals worth more than AED 2 billion ($544 million) on Tuesday, Dubai Land Department said.The deals include 433 sales transactions worth AED1.7 billion, in addition to 90 mortgage deals totaling AED270.28 million, and 37 gift deals amounting to AED69.36 million.The...

The transportation and storage sector was the biggest contributor to overall growth at 48 percent. This was followed by the financial and insurance sector, which accounted for 15 percent, and trade at 10 percent, according to data issued by the Dubai Data and Statistics Establishment of the Dubai Digital Authority.

Dubai, UAE - The Dubai Chamber of Commerce reported a 43 percent increase in new member companies, reaching a total of 30,146 in the first half of 2023, up from 21,098 in the first half of 2022. The total value of exports and re-exports from member companies also saw a...

Ain Dubai (Dubai Eye) was designed as a tourist-luring landmark in the United Arab Emirates' glam-hub, which is home to the world's tallest building. But now it stands idle for undisclosed reasons, its light fixtures the only parts still working. It was to close for a month, but its reopening...

Dubai, UAE - The highly anticipated 'Barbie' movie is all set to grace the big screens in the UAE on August 10, two weeks ahead of the originally expected release date. Local theaters, including VOX Cinemas, Reel Cinemas, and Roxy Cinemas, have already opened pre-orders for eager viewers. Online bookings for the...

Dubai's off-plan sales rose 38% in value, while Abu Dhabi's doubled to $1 billion, as the market saw the addition of 7,300 new units in the former and 1,000 in the latter.

Real estate sector remains one of the key business verticals.

The company’s EBITDA in H1 2023 was US$178 million.

Markets slid on Thursday as traders shifted to safer assets after Fitch downgraded the United States' credit rating from AAA to AA+. The decision sparked a strong rebuttal from Washington and confused analysts. Despite recent rallies on hopes of a "soft landing" for the US economy and in-line job data,...

JV will manufacture high-quality copper products in UAE.

Its net profit vaulted to US$132 million in the first half of 2023.

Dubai, UAE - Vox Cinemas, the prominent Middle East exhibitor partnering with Warner Bros. for distribution, has decided to postpone the Middle East release of the popular Greta Gerwig film to August 31. Initially slated for a July 19 release – just two days before its US debut – the delay...

Gulf real estate hit $90.7 billion in the first half of 2023, a 9.9% rise y-o-y, as Dubai led the market with a 57 percent increase, fueled by demand for luxury properties.

DUBAI, UAE – UAE Minister of Energy and Infrastructure Suhail bin Mohammed Al Mazrouei launched the National Program for Infrastructure Development (Salamah 365).This is a transformational project under the performance agreements signed by federal authorities in 2022 in the presence of Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime...

Dubai, UAE--The UAE's real estate market has recorded a strong performance across all sectors in the first half of the year as non-oil economy witnesses strong growth in spite of global macroeconomic headwinds. According to a market report by CBRE, rental performance in Abu Dhabi’s occupier market showed substantial improvement...

The company announces $95 million investment for expansion.

DUBAI, UAE – UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri highlighted the importance of collective action and collective finance to strengthen sustainable development.She also called upon G20 countries to fulfill their commitment to providing the pledged financial support for global climate initiatives.Almheiri addressed the G20...

DUBAI, UAE - Dubai Customs has, to date, processed 214 customs transactions worth US$38.7 million (AED142.2 million) under cover of the International Road Transport (TIR Carnet) system, the global customs transit procedure.Dubai Customs cleared the first transit consignment under the TIR carnet in 2020.Dubai Customs is a signatory of the...

Dubai, UAE - Larsen & Toubro (L&T), a Mumbai-based Indian company, has announced plans to collaborate with banks in the Middle East, the Indian newspaper The Hindubusinessline reported. The primary objective of this tie-up is not to seek financing for projects, as L&T will continue to self-finance its project execution in...