DAE said this is the company's largest ever loan facility.

Move aligns with EIH's aim to diversify sources of investment.

Riyadh, Saudi Arabia - Middle Eastern countries are increasingly embracing the Mandarin language, extending China's soft power influence in the region. While interest in learning Mandarin has declined in the West, Middle Eastern nations are mandating Chinese language education in their schools, , a report in South China Morning Post...

"The fiscal policy bolstered economic growth and the competitive business environment, leading to the UAE being ranked as the fastest-growing economy in the year 2022," adds Dubai's Deputy Ruler, Deputy Prime Minister, and Minister of Finance Sheikh Maktoum bin Mohammed, praising the Ministry of Finance’s team for their efforts.

Dubai, UAE-- Terming climate action as an opportunity to create a more equitable and sustainable world, Mariam bint Mohammed Almheiri, UAE's Minister of Climate Change and the Environment, believes it is a chance to raise living standards, "create new jobs and vibrant new industries, strengthen our bond with nature, and...

SHARJAH, UAE - The Sharjah Social Security Fund (SSSF) has allowed the possibility of acquiring the service period for insured employees in accordance with the relevant laws and regulations. This aligns with the law's objectives and the fund's strategies aimed at enhancing the well-being of employees and providing them with...

Hong Kong - The Saudi Arabia-China Entrepreneurs Association (SCEA) has signed a Memorandum of Understanding (MoU) with the Hong Kong Trade Development Council (HKTDC). The agreement was signed during the eighth Belt and Road Summit, a two-day event themed "Ten Years of Cooperation for Mutual Benefit," which saw participation from...

Moscow, Russia--The UAE and Russia are looking to strengthen the bilateral cooperation in higher education, scientific research, space, and engineering between the two countries. In this regard, Ahmad Belhoul Al Falasi, Minister of Education, and Valery Falkov, Minister of Science and Higher Education of Russia, held discussions in Moscow. Al...

New York, US--The UAE has announced the launch of a new digital response platform that will support disaster-affected countries to quickly and efficiently communicate their humanitarian needs to the international community.The UAE made the announcement during a United Nations Security Council open debate titled “Maintenance of international peace and security:...

DUBAI, UAE - The UAE and China's Hainan Province have signed four major private-sector agreements aimed at boosting the rapidly expanding bilateral trade and investment ties. The signing ceremony took place during the Hainan Promotion Conference in Dubai, and was attended by Dr. Thani bin Ahmed Al Zeyoudi, Minister of...

DUBAI, UAE - A total of 2,329 real estate transactions worth over US$3.4 billion (AED 12.7 billion) were conducted during the week ending September 15, 2023, according to figures released by the Dubai Land Department (DLD). The DLD report showed that 549 plots were sold for US$1.1 billion (AED 4.25...

Sharjah, UAE -- The UAE-based technology firm AstraTech is seeking to expand across India, Pakistan, and Egypt in the near future as part of its global expansion strategy. “Last month, we acquired a banking company in the Philippines as part of our global expansion, and now we are looking at...

Abu Dhabi, UAE - The UAE Ministry of Tolerance and Coexistence and the COP28 Presidency have signed a Memorandum of Understanding (MoU) to promote tolerance, coexistence, and human fraternity during COP28 slated to  take place from November 30 - December 12.  The UAE Minister of Tolerance and Coexistence Sheikh Nahayan...

BEIJING, CHINA – Chairman of China’s National People's Congress (NPC) Standing Committee Zhao Leji held talks in Beijing with the speaker of the Federal National Council of the United Arab Emirates (UAE) Saqr Ghubash. Zhao said that under the two countries' leaders, China and the UAE have continuously consolidated their...

Dubai, UAE - Emirates NBD made an investment in Erguvan, a climate and financial technology venture aimed at providing financial institutions and corporations with digital infrastructure, enabling them to manage the impacts and risks of climate change. The investment was made via Deniz Ventures, an investment fund launched by DenizBank...

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.

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...

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.

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....

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...

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...

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...

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.

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...

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...

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...

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...

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,...

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...

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...

The interim dividend reflects the firm’s robust balance sheet.

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...

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...

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...

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...

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...

Aim is to help in decarbonization of the Polish power sector.

With the latest acquisition, the firm now owns 39 JUBs.

Aldar Estates will benefit from a stable growth pipeline.

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...

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,...

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...

"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.

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.

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...

The German firm will hold "open-ended" talks with ADNOC.

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...

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...

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...

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...