DUBAI, UAE - A total of 3,625 real estate and properties transactions valued at US$3.4 billion (AED12.5 billion) were conducted during the week ending June 16, 2023, according to figures released by the Dubai Land Department (DLD). The DLD report showed that 189 plots were sold for US$620 million (AED...

Riyadh, Saudi Arabia-- Saudi Arabia has recorded an 8.7 percent increase in gross domestic product (GDP) in 2022, as against a 3.9 percent jump in 2021, on the back of high oil prices. The kingdom's economy successfully emerged from the Covid-19 crisis and the policies undertaken by the government accelerated...

Riyadh, Saudi Arabia-- Saudi Arabia vaults to the 13th position on the air connectivity index of the International Air Transport Association (IATA) in 2023, up from the 27th position in 2019. In the ranking that includes over 200 countries, the Kingdom achieved a record rise by 14 places. It achieved...

Paris, France--Investment in clean energy across the world is expected to rise to US$1.7 trillion in 2023, with solar set to eclipse oil production for the first time, according to a report by the International Energy Agency. The report noted that Investment in clean energy technologies is significantly outpacing spending...

Sharjah, UAE-- The emirate of Sharjah has seen a 22 percent growth in population to 1.8 million inhabitants, as against 1.4 million in 2015, according to the results of Sharjah Census 2022. The findings of the census were unveiled by Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, deputy ruler...

Abu Dhabi, UAE-- In order to advance the United Nations Social Development Goals, the UAE institutional investors should concentrate on transition investment, taking advantage of their access to emerging markets. This is the conclusion of a NYU Abu Dhabi (NYUAD) report. The annual report "Transition Investment Lab (TIL)" was launched...

Abu Dhabi, UAE-- The UAE's gross domestic product (GDP) is estimated to have grown 7.6 percent in 2022, shored up by economic activity across all sectors. The conclusion was made in an annual report released by the Central Bank of the United Arab Emirates (CBUAE), which said that the UAE's...

MADRID, SPAIN -  The World Tourism Barometer published its second report of the year, which showed that international tourism is making a strong comeback to pre-pandemic levels. During the first quarter of 2023, twice as many people traveled internationally than in the same period of 2022, with a total of...

ABU DHABI, UAE - The Statistics Center - Abu Dhabi (SCAD) has released the Gross Domestic Product (GDP) estimates report for 2022, unveiling a remarkable 9.3 percent  growth by the end of the year, compared to 2021. The new figures position the Emirate as the fastest-growing economy in the Middle...

PARIS, FRANCE -  Some 258 million people needed emergency food aid last year because of conflict, economic shocks and climate disasters, a UN report said Wednesday, a sharp rise from 193 million the previous year. "More than a quarter of a billion people are now facing acute levels of hunger, and...

Abu Dhabi, UAE-- Looking to employ 5,000 UAE national by 2026, and designing a program to groom future banking and financial sector leaders, the UAE Banks Federation (UBF) approved the plans for 2023 presented by the board of directors at its Annual General Meeting (AGM). The AGM was chaired by...

The US Federal Reserve called for greater banking oversight while admitting to its own failures in a report published into the collapse of Silicon Valley Bank last month. "Following Silicon Valley Bank’s failure, we must strengthen the Federal Reserve’s supervision and regulation," Federal Reserve vice chair for supervision Michael Barr...

Paris, France--Earth had its second-warmest March on record with Antarctic sea ice shrinking to its second-lowest extent, the EU's climate monitoring agency said on Thursday. "The month was jointly the second warmest March globally," said a report from the Copernicus Climate Change Service. The report is based on computer-generated analyses...

Dubai, UAE-- The total spending by UAE-based organisations on outsourcing services from local and offshore providers was estimated at over US$4.8 billion in 2018 and is expected to reach US$6.8 billion in 2023. This was highlighted in a new report by Boston Consulting Group (BCG) in collaboration with Forward MENA...

Dubai, UAE - Digital IDs and mobile authentication will propel many more mobile access deployments. HID, a leader in trusted identity and physical security solutions said in its inaugural State of the Security Industry Report on Friday.   “Identification and authentication are more commonly completed via mobile devices, including smartphones and...

Ottawa, Canada--US President Joe Biden on Friday said he believed China has not sent arms to Russia after President Vladimir Putin's forces invaded Ukraine. "I've been hearing now for the past three months (that) China is going to provide significant weapons to Russia... They haven't yet. Doesn't mean they won't, but...

Dubai, UAE-- Consumer spending in the UAE has shot up 19 percent in 2022 as against the previous year, according to Majid Al Futtaim's "state of the UAE retail economy" Q4 report. There was a notable 13 percent growth in spending across the retail economy for the full year including,...

Riyadh, Saudi Arabia--Saudi Arabia’s banking sector grew in 2022 on the back of potent revenue growth and is set for further gains, according to the Boston Consulting Group.   Analysis by the US-based firm reported the Kingdom’s banking profits after taxes have grown an average of 7.9 percent per year since...

A massive earthquake and aftershocks in February caused an estimated US$5.1 billion in direct physical damage in Syria, said the World Bank. The earthquake that struck on February 6 hit Turkey and Syria, devastating scores of cities and killing over 50,000 people in both countries. Millions need help with accommodation...

Dubai, UAE--A media report that the United Arab Emirates is considering leaving OPEC is "far from the truth," two sources with direct knowledge of the matter told media. Earlier on Friday, the Wall Street Journal reported that the UAE is having an internal debate about leaving the Organization of the...

Riyadh, Saudi Arabia--Saudi Arabia’s economic growth is expected to accelerate by 3 percent in 2023 backed by a robust non-oil sector.  According to a forecast by Riyad Capital, the output from this part of the economy will rise by 5 percent this year. The growth will be driven by a...

Citing historical "disinflation" cases dating back to 1950 in major economies, the report concluded that central banks "are likely to be hard pressed to achieve their disinflationary goals without significant sacrifice in economic activity." The analysis, prepared by a team of academic and corporate economists, identified parallels between the current...

Stock markets largely steadied and the dollar rose with traders forecasting US interest rates to keep climbing following last week's blockbuster American jobs report. Oil prices extended gains after Iraqi Kurdistan suspended crude exports through Turkey as a precaution after a deadly earthquake rocked its northern neighbor and Syria.

The index shows that Jordan scored 47 points and is ahead of 119 countries in combating corruption, including Malaysia, China, Bahrain, Kuwait, Turkey and Egypt.

DAVOS, SWITZERLAND – A  report launched Monday at the World Economic Forum Annual Meeting 2023 shows how countries can accelerate the food systems transformation. The report Food Nature and Health Transitions - Repeatable Country Models reveals how actions and investments can accelerate a country’s transition towards food systems that deliver...

Doha, Qatar-- As a windfall of the FIFA World Cup, banks in Qatar are expected to build profits and shore up their capital base and liquidity position in 2023, according to media report citing analysts. Qatari lenders had immense tournament-linked lending opportunities that began years ago, and it will help...

GENEVA, SWITZERLAND– The current energy crisis is driving inflation, slowing economic growth, creating social turmoil and the world should not add to this crisis by actions which derail the energy transition, a World Economic Forum (WEF) report says. The report said that steps such as increasing production of electricity from...

"Robust labour markets" alongside "increases in national minimum wages" and "trade unions demand(ing) higher wage increases" are also set to place upward pressure on wages.

Seven industries - advanced manufacturing services, retail, banking, energy, healthcare, consumer products, and automotive - are poised to be the key gainers, says a report.

DUBAI, UAE - The ninth Sustainability Report 2021 issued by Dubai Electricity and Water Authority (DEWA) highlights its efforts and achievements in supporting sustainable development in all its economic, social and environmental aspects. It introduces partners, relevant entities and all stakeholders to its performance and practices in sustainability. The report...

Saudi market's primary index fell for the eighth week in a row. Abu Dhabi index fell for four of five days. Dubai's main index fell three days out of five this week.

Dubai’s hotel inventory in October 2022 comprised 144,737 rooms at 790 hotel establishments compared with 122,185 rooms available at the end of October 2019.

Paris, France— The energy crisis is fuelling an acceleration of the rollout of renewable power, raising hopes for efforts to meet ambitious targets against global warming, the International Energy Agency said Tuesday. Total renewables capacity worldwide is set to almost double in the next five years and overtake coal as the...

The world must increase financing for nature-based solutions to meet key climate, biodiversity and land degradation goals, a United Nations report said. The "State of Finance for Nature" report published by the UN Environment Program comes as delegates from nearly 200 countries prepare to meet in Montreal to hammer out...

Welcoming the report brought out by the UN Independent International Commission of Inquiry, the Arab League has praised the efforts and the findings of the report, documenting Israeli violations against Palestinians, and holy sites in the occupied Palestinian territories.

The metaverse, Beyond Fantasy, the latest in a series of new reports from the company running under the ‘Blue Shift’ banner, explores the impact of new technologies on business, society and humans.

The Sharjah Chamber of Commerce and Industry (SCCI) has hosted a webinar in cooperation with Al Etihad Credit Bureau (AECP) to discuss the importance of AECP credit report and score for SME businesses.

Searching for a new life in Europe, some 13,000 Tunisian migrants have succeeded in reaching Italy by sea since the beginning of the year, almost a fifth of them minors. According to a Tunisian rights group more than 500 migrants also lost their lives or are missing while making the...

Dubai's Roads and Transport Authority (RTA) has published its seventh Sustainability Report 2021. The report showcases RTA's practices in matters related to the environment, society and governance.

It will cost some $350 billion to rebuild Ukraine from the devastation caused by the Russian invasion, according to a report. The figure, which totals 1.5 times the size of the Ukrainian economy, is considered a minimum and is expected to grow in the coming months as the war rages...

Real estate transactions in the Emirate of Sharjah totaled US$544 million (AED 2 billion) in August 2022, according to the monthly report published by Sharjah Real Estate Registration Department (SRERD).

Indonesia has a viable path to reaching its target of net zero emissions by 2060, bringing major benefits to its citizens in the process such as more secure and affordable energy supplies, according to a new IEA report.

Three days after it seized a US military drone vessel in the Gulf, the Iranian navy took control of two American drone vessels in the Red Sea before releasing them. Iranian state media aired footage on Friday purporting to show the two US vessels being released by Iranian forces on...

The growth in total bank deposits was due to the rise in resident deposits by 2.6% and non-resident deposits by 2.0%.

A Central Bank of Iraq report showed that the unemployment rate rose to 16.5 percent in 2021, compared to 11.9 percent in 2012.

IMF estimates inflation in the UAE is expected to be at 3.7 per cent in 2022, falling to 2.8 percent in 2023. While these are among the lowest levels globally, businesses operating in the UAE are feeling the pressure of increasing costs, according to Grant Thornton's International Business Report. The...

Due to an improvement in business conditions in July, Saudi Arabia has posted a strong growth in job numbers in the non-oil sector, according to the latest Purchasing Managers Index data report from S&P Global.

Tokyo stocks opened higher on Wednesday ahead of a key US inflation report and with worries growing over rising Covid-19 cases in Japan and abroad. The benchmark Nikkei 225 index was up 0.53 percent in early trade, while the broader Topix index edged up 0.43 percent.

A leaked cache of confidential files from ride-sharing company Uber illustrates ethically dubious and potentially illegal tactics it used to fuel its frenetic global expansion beginning nearly a decade ago, a joint media investigation showed Sunday. Dubbed the "Uber Files," the investigation involving dozens of news organizations found that company...

Most of the public and private sector leaders believe that Artificial Intelligence is a valuable asset in fight against climate change but insufficient expertize remains a challenge.