Dubai, UAE -- Dubai recorded real estate transactions valued at AED 11.5 billion ($3.13 billion) during the week ending 2 Feb 2024. The sum of transactions was 3,677.A total of 192 plots were sold for AED 2.61 billion, 2,699 apartments and villas were sold for AED 5.75 billion.The top three...

Abu Dhabi, UAE--Despite geopolitical uncertainties and potential economic headwinds, S&P Global expects GCC banks to maintain their well-capitalised, profitable, and liquid status.S&P Global‘s ‘GCC Banking Sector Outlook 2024’ reveals a challenging yet optimistic perspective. The ratings agency anticipates overall stability in key metrics for GCC banks in 2024. Credit growth...

DUBAI, UAE - The total investable wealth currently held in the BRICS bloc amounts to US$45 trillion and its millionaire population is expected to rise by 85 percent over the next 10 years, a report said.  There are currently 1.6 million individuals with investable assets of over US$1 million in...

Riyadh, Saudi Arabia -- Saudi Arabia remains undecided on accepting the BRICS bloc's invitation to join, despite initial claims of its accession. South Africa's Foreign Minister Naledi Pandor's recently asserted the kingdom's membership, but a Saudi official told Reuters that the Kingdom has not yet responded to the invitation to...

ABU DHABI, UAE - Abu Dhabi University (ADU) has signed a Memorandum of Understanding with the Italy-Czech Republic Chamber of Commerce (CCIRC) to elevate research efforts in academia.The MoU - signed by Dr. Hamad Odhabi, Vice Chancellor of Financial and Administration Affairs at ADU, and Antonio Rotondo, Chairman of CCIRC...

ABU DHABI, UAE - Madrid wants the upcoming 13th Ministerial Conference (MC13) of the World Trade Organization (WTO) here next month to address the potential challenges of de-globalization and its impacts on global supply chains, Minister of State for Trade of Spain Xiana Mendez said.“The main challenges we may have...

Abu Dhabi, UAE -- Real estate transactions in the Emirate of Abu Dhabi amounted to over AED 5 billion ($1.36 billion) in the first month of 2024, comprising 1,386 transactions of sales and mortgages on various types of real estate units.According to the "DARI" platform, affiliated with the Department of...

Sudan's nine-month-old war has so far largely spared the country's east. But with the frontline inching ever closer, and reports of military training camps across the border in Eritrea, the fragile peace there is in jeopardy. Witnesses, speaking on condition of anonymity because of security concerns, said Sudanese fighters were...

The firm posted third consecutive rise in quarterly earnings.

Abu Dhabi, UAE--In a significant move that underscores the interconnectedness of global monetary policies, central banks across the Gulf Cooperation Council (GCC) have announced decisions to hold their interest rates steady, mirroring the recent actions of the US Federal Reserve. This collective stance reflects a cautious approach to navigating the...

Abu Dhabi, UAE-- The UAE economy is projected to grow by 5.7% in 2024 despite prevailing global economic challenges, including global economic slowdown and difficult financial conditions, according to Younis Haji Al Khoori, Undersecretary of the Ministry of Finance (MoF).Speaking to a media outlet, he said, "Our efforts to diversify...

Abu Dhabi, UAE-- Looking to enhance economic ties between the UAE and the United Kingdom, Abdulla bin Touq Al Marri, Minister of Economy, recently met with Greg Hands, British Minister of State (Department for Business, Energy Industrial Strategy). The bilateral meeting explored new opportunities for economic and investment cooperation, as...

The 2024 outlook for the MENA region's project market is exceptional, with an anticipated surpassing of $270 billion in value, according to a latest report.

Sohar, Oman -- Oman and Etihad Rail Company (OER), the developer and operator of the UAE-Oman Rail Network, and Al Jazeera Steel Products Co (AJSP), one of the leading steel structural products and tube manufacturers in the Middle East, signed a Memorandum of Understanding (MoU) to establish a strategic framework...

RAS AL KHAIMAH, UAE - The economic growth of the Emirate continued to accelerate in 2023, with the Department of Economic Development reporting a 10 percent increase in the total capital of valid business licenses issued.This figure reached US$2.1 billion (AED 7.8 billion), demonstrating the emirate's strong economic momentum.The industrial...

The aim is to develop EV charging facility in the UAE.

ABU DHABI, UAE - The Abu Dhabi's “Business Activity Report” for the year 2023, issued by the Abu Dhabi Department of Economic Development (ADDED), has reported annual growth of major indicators.The report emphasizes the business ecosystem's attractiveness and its ability to attract quality investments, supported by the Emirate's strong economic...

Dubai, UAE -- UAE's Ministry of Finance has saved 39,000 hours of human labor by using bots, software applications that carry out automated tasks for 1.8 million transactions with more than 98 percent accuracy, the Ministry said.It has just completed phase two of embedding robotic process automation (RPA) into many...

SMEs are contributing 63.5% to the UAE's non-oil GDP and are at the forefront of innovation and growth, Ayham Gorani, CEO of Pemo, tells TRENDS.

Ghitha reported an operating profit of $69 million in 2023.

GFP secures nearly $60 million in equity financing to expand its network.

EDGE has a local and global orderbook of over $5billion.

Turkish Airlines will take on lease 10 Boeing 737-8 aircraft.

DUBAI, UAE - Dubai’s Roads and Transport Authority (RTA) has awarded a contract to upgrade the existing nol (card-based ticketing system) to a sophisticated, central wallet technology (account-based ticketing system), aligning with the top global practices.This project, which requires an investment of US$95 million (AED350 million), is one of the...

The Noqodi platform will enable digital payments.

Doha, Qatar - Musab Al-Battat has led Palestine on the pitch with his all-action performances and off it as the voice of a team who have battled the odds to reach the Asian Cup knockout rounds for the first time.The 30-year-old captain will be the man his team look to once...

DUBAI, UAE - Dhai Dubai, the first-ever Emirati-led light art festival, has launched its illuminating 10-day program at Expo City Dubai.The event celebrates the rich artistic tapestry of Emirati through a series of awe-inspiring artistic projections, interactive installations, enlightening talks and creative workshops.The free-to-attend festival is created and organized by...

"COP28 saw all parties reach an agreement on the historic ‘UAE Consensus.’ This consensus includes achieving a well-organized, responsible, fair, and realistic transition to a zero-carbon energy system. It also set, for the first time, specific time-bound goals to triple the capacity of renewable energy sources by 2030," he adds.

DUBAI, UAE – Developments in Artificial intelligence (AI) have been impacting businesses, governments and economies across the world. Advancements in AI, especially generative AI (GenAI), are leading to a once-in-a-generation shift.The Cisco AI Readiness Index has revealed that 95 percent of respondents have an AI strategy in place or under...

Hong Kong-- The global Islamic finance market would touch US$4.9 trillion by 2025, according to Yazrin Syakhairi, Malaysian Trade Commissioner at the Consulate General of Malaysia in Hong Kong.Speaking on the sidelines of the Asian Financial Forum (AFF) in Hong Kong, Syakhairi told the Emirates News Agency (WAM) that the...

Abu Dhabi, UAE-- The UAE and Malaysia have signed a memorandum of understanding (MoU) to boost investment cooperation in the digital-infrastructure sector with an emphasis on data centres in Malaysia.The MoU centres on establishing robust and efficient collaboration through the development of bilateral relationships between public and private organisations. The...

GFH Financial Group has made significant investments in healthcare, education, logistics, and private lending in Saudi Arabia and the UAE, its CEO tells TRENDS in Davos.

The 2024 outlook for GCC IPO markets shows strong potential with diversified sector participation, bolstered by government support for both state-owned and private offerings.

The group will supply 200 unmanned helicopters to UAE defense ministry.

HONG KONG - UAE Ministry of Finance Undersecretary Younis Haji Al Khoori announced that the ministry's issuance of bonds and Sukuk in 2023 totaled around $2 billion (AED7.7 billion).For Q1 2024, the ministry is planning to issue bonds and Sukuk valued at US$1.3 billion (AED5 billion), he said. Speaking to...

The Bank’s total income reached AED 1.2 billion ($326.69 million)

Dubai, UAE--DMCC has kicked off the ninth edition of its global trade roadshow, Made For Trade Live, in London, seeking to attract a greater amount of foreign direct investment (FDI) from the United Kingdom.DMCC is the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise.The...

Yemen's Iran-backed Houthi rebels fired three missiles at two merchant ships in the Red Sea in their latest attack in the commercially vital waterway, the White House said. The report came after the Houthis vowed to keep up their attacks despite repeated US and British strikes against them.

ABU DHABI, UAE - On the second day of the sixth edition of UMEX and SimTEX 2024, the accumulated value of deals signed on behalf of the Emirates Ministry of Defense (MoD) reached US$255 million (AED939 million).This was announced during a press conference held on Wednesday by Tawazun Council's official...

DUBAI, UAE - With support from the Abu Dhabi Investment Office (ADIO), Hub71-backed ABHI, an embedded finance platform founded in Pakistan, is advancing to its next growth stage by establishing its global HQ in Abu Dhabi to grow its international operations.ABHI joined Hub71, Abu Dhabi’s global tech ecosystem, in 2022...

Abu Dhabi, UAE - EDGE Group entity Milrem Robotics signs a contract to supply 20 tracked robotic combat vehicles (RCVs) and 40 THeMIS unmanned ground vehicles (UGVs) to the United Arab Emirates (UAE) Ministry of Defense.EDGE Group said in a statement that the agreement represents the world's largest combat robotics...

DUBAI, UAE - Dubai consolidated its status as a central hub for international business events in 2023, with the city winning a record 349 bids to host international conferences, congresses, meetings and incentive travel programs.Driven by Dubai Business Events (DBE), the city's official convention bureau, the wins reflected a robust...

The rigs use high-capacity battery to reduce emissions.

They will establish e-methane supply chain from UAE-Japan.

Abu Dhabi, UAE-- The UAE President Sheikh Mohamed bin Zayed Al Nahyan has issued a law, as the ruler of Abu Dhabi, establishing the Artificial Intelligence and Advanced Technology Council (AIATC) for developing and implementing policies and strategies related to research, infrastructure and investments in artificial intelligence and advanced technology...

SHARJAH, UAE - Alef Group concluded its participation in the ACRES Real Estate Exhibition 2024 with resounding success, generating significant demand and securing approximately US$84 million (AED310 million) in sales transactions for its residential projects.CEO of Alef Group Issa Ataya said, “ACRES was a good opportunity to connect with local...

Sharjah, UAE -- Real estate deals worth more than AED 1.4 billion ($381 million) were inked at ACRES 2024, organized by the Sharjah Chamber of Commerce and Industry (SCCI) and Sharjah Real Estate Registration Department (SRERD).The exhibition, which was held from Jan 17-20, was attended by citizens, residents, investors, and...

Abu Dhabi, UAE -- The UAE recorded the second-highest increase in the number of new foreign investment projects around the world after the US in 2023, a report by the United Nations Conference on Trade and Development (UNCTAD) said.The number of these projects increased by 28 percent compared to 2022,...

Nearly two-thirds (59 percent) of business leaders in the UAE express their commitment to increasing investments in advanced technology, says a latest report.

DUBAI, UAE - In an age where data is a cornerstone of modern healthcare, the industry faces an escalating threat from cyber criminals seeking unauthorized access to sensitive information.Kingston Technology, a player in memory products and technology solutions, is urging healthcare entities to bolster their defenses against rising cyber threats. ...