Technology and Short-Term Rentals in Dubai
Dubai’s short-term rental sector is being reshaped by cutting-edge proptech. From AI-driven guest personalization and immersive VR tours to smart home automation and sustainable energy solutions, technology is enhancing guest satisfaction and owner efficiency. With its strong digital infrastructure and appetite for innovation, Dubai is poised to lead the global...
UAE’s internet quality world’s best, but e-security concerns remain
The UAE's achievement in internet quality marks a significant improvement from its previous third-place ranking in this category. However, in the overall DQL Index, the UAE stands at 38th globally, reflecting its challenges in other areas, particularly in e-security.Russian Post working on opening company in UAE, says CEO
Vladivostok, Russia -- Russian Post is working on opening a company in the UAE, CEO Mikhail Volkov told TASS in an interview at the Eastern Economic Forum (EEF)."We are currently working on opening of a company in Dubai, the UAE, and are also considering other countries. We as logistical specialists...
Gulf banks to maintain resilience despite challenges, says S&P Global
According to the credit rating agency, a combination of higher interest rates and production cuts by the OPEC is expected to restrain near-term growth prospects for major GCC economies. However, non-oil growth is anticipated to bolster the region's economies, particularly in Saudi Arabia and the UAE.
Online beauty products sales in MENA grow by over 20% in 1H 2023: study
Dubai, UAE - Online sales of beauty products in the MENA region experienced significant growth, surpassing global trends In the first half of 2023. According to a press release from Admitad, a partner network, global sales in the beauty and self-care industry increased by more than 15% during this period. However,...Global aid effort intensifies for flood-stricken Libya
Military transport aircraft from Middle Eastern and European nations, along with ships, have been ferrying emergency aid to the North African country already scarred by war. In addition to the missing, tens of thousands of people have been displaced after the huge flash flood slammed into the Mediterranean coastal city...
UAE and Iraq to deepen economic, cultural, energy cooperation
Baghdad, Iraq-- The UAE and Iraq have held discussions to boost economic, investment, educational, cultural, agricultural, food, technological, and energy cooperation.The discussions were held in the tenth session of the UAE-Iraq Joint Committee in the Iraqi capital, Baghdad, co-chaired by Khalifa Shaheen Al Marar, UAE Minister of State, and Dr....UAE and OECD host regional forum on global minimum tax
Dubai, UAE – The United Arab Emirates and the Organization for Economic Co-operation and Development (OECD) on Wednesday hosted regional forum on global minimum tax as a part of the UAE's commitment to international standards around taxation. “The UAE adopts financial and tax policies, legislation and systems that serve its...
COP28 to boost climate resilience and agri innovation
Chaired by UAE Envoy for Climate Change Sultan Al Jaber, the global climate summit will focus on a four-pillar strategy for a sustainable future.Global economy lost $32bn due to credit card frauds, says AMF
Abu Dhabi, UAE - The Arab Monetary Fund said Wednesday that global credit card fraud losses incurred by financial institutions and individuals reached around US$32.3 billion in 2021.The losses increased substantially by 13.8 percent compared to the previous year, WAM reported.The Fund released a study titled "The Role of Artificial...UAE banks’ investments reach $157 billion by July end
Abu Dhabi, UAE -- Investments of banks operating in the UAE reached AED 580 billion ($157.90 billion) at the end of July 2023, the highest level in history, according to the latest statistics of the UAE Central Bank.The data showed that investments of banks operating in the country increased by...
UAE is 6th highest per capita consumer of solar energy in the world
Abu Dhabi, UAE - The UAE ranks among the top world leaders in solar energy use, according to a recent report published by the Energy Institute Statistical Review of World Energy.With three of the planet’s largest solar sites, the UAE is the 6th highest per capita consumer of solar energy...
UAE and Germany hold workshop on hydrogen strategies, carbon markets
Abu Dhabi, UAE-- Looking to exchange expertise and explore potential synergies in hydrogen and carbon trading, an industry workshop was organized under the Emirati-German Energy and Climate Partnership.The workshop was organized by the UAE's Ministry of Energy and Infrastructure (MoEI) and the Federal Ministry for Economic Affairs and Climate Action...
Ajman records US$1.01 billion in construction contracts in H1 2023
Ajman, UAE-- The value of construction contracts in the emirate has exceeded $1.01 billion during the first half of 2023, in line with its strategic goal to achieve the sustainable development of the construction and contracting sector, according to the Ajman Municipality and Planning Department.Abdul Rahman Mohammed Al Nuaimi, Director-General...
UAE’s financial wealth to reach $1.3trn by 2027
Abu Dhabi, UAE - The financial wealth of United Arab Emirates (UAE) is anticipated to experience a Compound Annual Growth Rate (CAGR) of 5.5%, rising from $1 trillion to $1.3 trillion from 2022 to 2027, according to a new report by Boston Consulting Group (BCG).The BCG report, titled ‘Global Wealth...UAE economic expansion to continue, after posting 3.8% growth in Q1: OPEC
Vienna, Austria--The Organization of the Petroleum Exporting Countries (OPEC) has confirmed that the UAE's economy grew by 3.8 percent in the first quarter of 2023.In its September 2023 report, OPEC said it expects the UAE's economic expansion to continue, noting that key sectors of the country's economy have seen significant...Agthia okays H1’23 interim dividend
The interim dividend reflects the firm’s robust balance sheet.
UAE banks to perform strongly in 2023: Standard & Poor’s report
Abu Dhabi, UAE -- Standard & Poor's Global Ratings expects that the banks of the United Arab Emirates (UAE) will achieve strong performance in 2023.In a recent report, the credit rating agency said that UAE banks will benefit from strong non-oil GDP growth, which will mitigate the impact of rising...
Over 3,500 new members register with Ajman Chamber in H1 2023
AJMAN, UAE- The Ajman Chamber of Commerce and Industry (ACCI) has revealed that in the first half of 2023, at least 3,567 new members joined it. The growth pace of the industrial sector in Ajman is accelerating as a result of the leadership's interest in the field, the availability of...UAE Govt to offer 2.5% payment support for pensioners
Dubai, UAE - The UAE government has announced a 2.5 percent payment support to its citizens’ pension contributions through the Nafis program. The subsidy applies specifically to Emirati employees in the private sector and comes with a condition: both the company's information and the employee's data must be regularly updated with...India wants to use UAE expertise in smart cities: official
New Delhi, India - India wants to cooperate with the UAE in smart cities and technologies, President and CEO of the National e-Governance Division (NeGD) at the Ministry of Electronics and Information Technology of India Abhishek Singh said on Monday. In his statement to the Emirates News Agency (WAM) on the sidelines...UAE president discusses boosting ties with president of Nigeria
Abu Dhabi, UAE-- UAE President Sheikh Mohamed bin Zayed and Nigerian President Bola Ahmed Tinubu discussed opportunities for further bilateral collaboration in areas that serve both countries’ sustainable economic growth, including the economic, development, energy, and climate action fields in a meeting in Abu Dhabi.Sheikh Mohamed expressed his hope that...ENEC inks MoU with OSGE
Aim is to help in decarbonization of the Polish power sector.
ADNOC L&S boosts barge fleet
With the latest acquisition, the firm now owns 39 JUBs.Aldar Estates buys FAB Properties
Aldar Estates will benefit from a stable growth pipeline.Saudi national stopped at Delhi hotel lobby while trying to meet UAE President
New Delhi, India - A Saudi Arabian national attempted to gain access to a five-star hotel in Delhi where UAE President Mohamed bin Zayed Al Nahyan was staying, the Indian newspaper, The Indian Express reported on Monday. The individual was promptly intercepted by vigilant security personnel while trying to approach...Global aid pours into Morocco as quake death toll passes 2,100
The International Federation for Red Cross and Red Crescent Societies has warned that the next 24 to 48 hours will be critical for saving lives as the death toll keeps rising. At the same time, global aid and support has begun to pour into Morocco, led by the UAE, Qatar,...
Keen on promoting digital payments in India, UAE, says RBI
NEW DELHI, INDIA – The Chief General Manager of the Reserve Bank of India's Department of Payment and Settlement Systems, said that the country is looking forward to more meaningful cooperation with the UAE in the field of digital payments.Speaking to the Emirates News Agency (WAM) on the sidelines of...Partnership deals help UAE and India strengthen ties
"The UAE and India have robust, deep-rooted bilateral relations. The signing of the Comprehensive Strategic Partnership in 2017 and the Comprehensive Economic Partnership Agreement in 2022 reflects both countries' eagerness to strengthen and elevate these relations," Al Sayegh points out on the sidelines of the G20 Summit in New Delhi.‘Historic’ EU-Middle East-India trade plan launched
At the G20 Summit in New Delhi, the US, EU, Saudi Arabia, and UAE have launched an ambitious trade initiative to connect railways, ports, and energy networks globally.UAE President, Indian Prime Minister discuss strengthening bilateral, trade ties
NEW DELHI, INDIA - UAE President Sheikh Mohamed bin Zayed Al Nahyan and Indian Prime Minister Narendra Modi met to discuss the Comprehensive Strategic Partnership and Comprehensive Economic Partnership between the two countries. The two leaders also discussed sustainable development and strengthening ties between the countries and their people. The...ADNOC looks to buy Covestro
The German firm will hold "open-ended" talks with ADNOC.Alif debuts in the UAE with Alif pay launch
Dubai, UAE - Alif, a Central Asian fintech leader, is expanding its presence into the United Arab Emirates (UAE) with the launch of Alif Pay. This new venture is geared towards offering a range of financial services and global remittance solutions to meet the needs of UAE residents.Among the services...
Dubai real estate sales up despite price rise since January 2020
Dubai, UAE – The Dubai Land Department (DLD) reported over 3,200 transactions worth AED 24.7 billion last week and this upwards trend appears to have become a staple of permanence in the emirates’ real estate market.Sales frequency has surged on the heels of investor confidence being renewed amid continued recovery...
World falling dangerously short of climate goals: UN report
Paris, France - A world facing catastrophic climate change is perilously off course in meeting goals for slashing carbon pollution and boosting finance for the developing world, according to the UN's first official progress report out Friday.The 2015 Paris treaty has successfully driven climate action, but "much more is needed now...
RAKEZ, Indian Economic Trade Organization ink MoU to boost business ties
RAS AL KHAIMAH, UAE - Ras Al Khaimah Economic Zone (RAKEZ) and the Indian Economic Trade Organization (IETO) have signed a Memorandum of Understanding (MoU) to strengthen trade and investment ties between the UAE and India. The MoU was signed by RAKEZ Chief Commercial Officer Anas Hijjawi and IETO President...
UK’s Zencargo ventures into UAE, eyes MENA expansion
Abu Dhabi, UAE - The UAE Ministry of Economy has announced that Zencargo, a UK-based company with expertise in digital freight forwarding, is joining its NextGenFDI program, a government initiative to attract international investment to the UAE.The company plans to establish operations in the Emirates with a view to integrating...
UAE vows full backing for GCC economic integration by 2025
Dubai, UAE - The United Arab Emirates (UAE) has reaffirmed its commitment to advancing the economic integration of the Gulf Cooperation Council (GCC) member states, with the ultimate aim of achieving economic unity by the year 2025The UAE Minister of Economy Abdulla bin Touq Al Marri, Minister Bin Touq called...Saudi crown prince says ready for economic partnership with BRICS
DUBAI, UAE – Saudi Arabian Crown Prince Mohammed bin Salman in a telephonic conversation with Russian President Vladimir Putin has expressed readiness to build an economic partnership with the BRICS countries.The Saudi Press Agency said the two sides had discussed various issues at the BRICS summit, where Saudi Arabia was...
Masdar, Africa50 sign MoU
The aim is to speed up clean energy transition in Africa.EIH acquires stake in 9Yards Comm
The acquisition aims to broaden EIH's investment portfolio.$341bn in non-oil trade between UAE, G20 countries: UAE Minister
New Delhi, India - The non-oil trade between the UAE and G20 countries in 2022 hit $341 billion, which is 55% of the UAE's total non-oil trade, Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade told the Emirates News Agency (WAM) in India where he...Gulf countries witness alarming increase in early-onset cancer cases
A recent study in BMJ Oncology 2023 has highlighted an alarming increase in early onset of cancer cases in the Gulf countries, particularly the UAE, Qatar, and Saudi Arabia, from 1990 to 2019. While these countries report staggering growth rates, nations like Lithuania, Georgia, and Latvia have seen a decline.
Rani R Raad is new CEO of IMI
International Media Investments owns and operates a portfolio of media outlets.UAE to host faith leaders for climate crisis summit prior to COP28
Abu Dhabi, UAE - A global summit for faith leaders from around the world will take place in Abu Dhabi from November 6 to 7, to highlight the crucial role of faith communities in addressing climate change. The summit will take place ahead of the 28th Conference of the Parties...ADEX and National Bank of Egypt sign $100m financing agreement
This is aimed at supporting UAE export transactions to Egypt.
India tops list of new Dubai Chamber of Commerce members during H1 2023
Dubai, UAE - Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has revealed that Indian investors topped the list of nationalities behind new companies joining the chamber during the first half of 2023.A total of 6,717 new Indian-owned companies signed up for...ADNOC to develop largest carbon-capture project in MENA
According to an ADNOC statement, the project will be able to capture up to 1.5 million tonnes of CO2 a year, tripling ADNOC's carbon capture capacity. No cost or timeline was announced for the venture, which will be built and operated by ADNOC subsidiary ADNOC Gas.Smart factories transform manufacturing across GCC
Saudi Arabia and UAE lead the region in rapidly embracing the Fourth Industrial Revolution, shifting from traditional factories to smart ones.
UAE looks to deepening trade relations with ASEAN bloc
Thani bin Ahmed Al Zeyoudi, UAE’s Minister of State for Foreign Trade, led the UAE delegation to Jakarta, Indonesia, the host of ASEAN Business and Investment Summit.Saudi construction sector employs 3 million workers
GCC countries employ close to 20 million foreign workers, who are subject to vastly different conditions and wags compared to the nationals.
