Saudi Arabia, which has pioneered the development of smart cities in the region, plans to establish more than 200 smart cities.

As these countries -- including Saudi Arabia, UAE and Qatar -- progress to the next phase of their economic diversification, focusing on renewable energy technologies and cutting-edge manufacturing, Turkiye can emerge as a dependable partner, offering opportunities for technology transfer and joint development, he adds.

Riyadh, Saudi Arabia -  In recent days, speculation has grown about the Biden administration's attempts to broker a normalization agreement between Israel and Saudi Arabia. This potential diplomatic breakthrough, akin to climbing Mount Everest, has significant implications for the Middle East and global geopolitics. While the road ahead is fraught...

The Kazakh minister said his country hopes to benefit from the UAE's experience in tourism and development sectors as he affirmed Kazakhstan's objective to add more facilities and resorts to its tourist attractions. He noted how Astana, the capital, has become a suitable destination for investment, especially in the tourism,...

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...

Ras Al Khaimah, UAE - The existing and upcoming waterfront and island developments in Ras Al Khaimah have witnessed a rise in demand in the first half of 2023. Bayut, the UAE's property portal, said in its latest report. The steady demand for properties in the emirate’s most popular residential...

This performance will be delivered through constant contributions from the non-oil sector, especially from tourism, leisure and real estate. The OPEC Monthly Oil Market report for August said the country's Global Purchasing Managers’ Index (PMI) was almost unchanged in July, standing at 56, following 56.9 in June and compared to...

The company's net profit for H1 2023 stands at US$121.221 million.

Dubai, UAE-- More than 15 million people visited Dubai Municipality public parks, neighborhood parks, lakes, and recreational facilities for the first time during the first half of 2023. It marks a 50 percent increase in the same period of 2022, which recorded approximately 10 million visitors.Visitors to parks and facilities...

Revenue for the first half decreased 22% to $222 million.

The market share of Hala Taxi service vehicles grew 35%

Abu Dhabi, UAE - A record 2.4 million tourists visited the UAE during the first six months of 2023, a report by the Department of Culture and Tourism – Abu Dhabi said.Also, the numbers marked an increase of around 34 percent compared to the same period during last year.The emirate’s...

Dubai, UAE --  Granting the United Arab Emirates the status of a member of BRICS group (Brazil, Russia, India, China, South Africa) will allow the association to push Western countries towards accepting changes in the system of international relations, especially with regard to trade and de-dollarization, an international affairs expert...

ABU DHABI, UAE -  The Abu Dhabi Fund for Development (ADFD) has signed a loan agreement with the Government of Tanzania worth US$105.4 million (AED387 million) to enhance energy security in the country.The project’s objective is to fully connect the Kagera administrative region with the national electricity grid, reducing dependency...

Abu Dhabi, UAE: ADNOC Gas, the integrated gas processing company, announced on Wednesday the award of a $3.6 billion (AED13.1 billion) contract to the joint venture between National Petroleum Construction Company Co. and Tecnicas Reunidas to expand its gas processing infrastructure in the UAE. The scope of the contract includes the...

Sharjah, UAE - It's been a busy start to the year for members of the Sharjah Business Women Council (SBWC), who have made big leaps in their journeys of learning and business networking. SBWC has a member community of 2,000+ business women and aspiring entrepreneurs. From organising introductory meetings across the...

The UAE scored 134 on the Global Digital Shopping Index, exceeding the global average of 125, as 94% of adults in the country use digital shopping features, say a survey.

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 company reported a revenue of $205m in H1 2023.

"Astronaut Sultan Al Neyadi is currently on the longest space mission in Arab history ... This mission has elevated the UAE's and the entire Arab world's stature, surpassing all expectations. Upon Al Neyadi's return to Earth, the center will strategize to secure a space flight seat every 3 to 5...

Abu Dhabi, UAE-- In a boost to the UAE's effort to secure self-sufficiency in the food sector, ADQ has partnered with Safe Haven Solutions, a Netherlands-based climate-smart agriculture solution provider, to construct a high-tech greenhouse at ADQ’s AgTech Park in KEZAD. The automated 10-hectare facility will leverage advanced agricultural technology...

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...

MENA startups secured US$95 million in July 2023 across 31 deals; equity investments hit US$55 million, boosted by One Moto's US$ 40 million round.

Chad is a neighbor of Niger, where a coup late last month toppled one of the last pro-Western leaders in the Sahel region. The UAE's official news agency WAM included a photo of several desert-colored armored vehicles, with the Emirati and Chadian flags draped over two of them. Emirati firm...

Dubai, UAE -- The United Arab Emirates Sunday launched Ministry of Finance's Strategic Plan 2023-26 aimed at accelerating government performance through financial empowerment, sustainability, innovation and future foresight, financial leadership and sustainable development.Deputy Ruler of Dubai and Minister of Finance Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, who launched...

Tokyo, Japan--Japan's crude oil imports from the United Arab Emirates amounted to 25.63 million barrels in June 2023, or 37.4 percent of total imports, the Natural Resources and Energy Agency of Japan's Ministry of Economy, Trade and Industry said.During June, Japan's total crude oil imports were 68.5 million barrels, of...

TRENDS Infographics explores prominent Arab nations in the latest Global Soft Power Index, with the UAE leading the way by entering the top 10, a first for the Middle East.

ABU DHABI, UAE - Key UAE government entities have partnered to boost coordination between advanced technology and space sectors.The collaboration is aimed at harnessing emerging technological innovations and developments to tackle global climate change.  The Ministry of Industry and Advanced Technology (MoIAT), UAE Space Agency, and COP28, through the Office...

New Delhi, India--The Comprehensive Economic Partnership Agreement (CEPA) signed with the UAE and operationalized last year is a “special achievement for India’s foreign and trade policy,” India's Minister of State for External Affairs, Dr. Rajkumar Ranjan Singh, told Lok Sabha, the lower House of India’s Parliament yesterday.He was answering a...

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...

The Company’s non-fuel retail business rose by over 12%.

“In conflict, international humanitarian law is clear: parties to armed conflict must take constant care to spare the objects necessary to produce food and drinking water and they must never target civilian objects. There is not only a moral but a legal duty also to uphold these norms,” Al Kaabi...

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.

Lower oil production, high inflation, tighter monetary policies, increased borrowing costs, and the rising cost of servicing debt continue to strain the region's finances, data and analytics company GlobalData said in its Global Risk Report Quarterly Update -- Q1 2023. The region's risk score went up from 54.3 out of...

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

Firm's EBITDA rose 12.7% y-o-y to $127 million in H1 2023.

Abu Dhabi, UAE - Abu Dhabi International Airport (ADIA) registers an increase of 67 percent in passenger traffic with 10,258,653 passengers passing through the airport between January 1 and June 30, 2023, compared to 6,158,376 passengers during the same period last year. The airport also recorded 67,835 flights, a rise of...

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,...

Acquisition aims to diversify and expand into several sectors.

JV will manufacture high-quality copper products in UAE.

The net profit rose to US$39.21m in H1 of 2023.

Saudi Arabia is expected to lead the growth, with a CAGR of 1.6 percent, while Kuwait and the UAE are projected to experience faster growth rates compared to other member nations

The talks between Sheikh Mohamed bin Zayed and King Abdullah focused on ways to ramp up cooperation across key strategic sectors, with a particular emphasis on economic partnerships, investment and development opportunities, and other key areas aimed at fostering sustainable development and prosperity in both countries.

Favoring CBDCs for efficiency, convenience, and security, 63% of MENA residents believe central banks should introduce them, and 73% are ready to use them, says a survey.

Abu Dhabi, UAE - Oman and Etihad Rail Company (OERC) signed a deal with Jindal Shadeed Iron & Steel (Jindal) to establish a sustainable end-to-end transport logistics solution between Jindal’s steel complex at Sohar Port and the United Arab Emirates (UAE), via the UAE-Oman Rail Network.The deal is a part...

LONDON —Strategically important power and water projects controlled by GCC governments or government-related entities (GRE), are benefitting from the support and lower risks, according to the latest report by Fitch Ratings.GCC governments typically play multiple roles in power and water desalination projects, often controlling project companies with minority stakes held...

Abu Dhabi, UAE - ADQ and IHC Capital Holding are joining forces to bring together ADQ's ownership of Abu Dhabi National Exhibitions Company (ADNEC) and its stake in Modon Properties, along with IHC Capital's share in Modon to form a new entity called Q Holding. The proposed transaction would create one...

She adds that the Ministry’s participation in this workshop forms part of its commitment to fostering regional and international cooperation and facilitating the exchange of expertise with partners, thus contributing to establishing a sustainable national anti-money laundering ecosystem.