The Middle East, with its vast resources and strategic position, can play a crucial role in BRICS' vision of a more equitable and democratic global order as the BRICS move to include countries such as Saudi Arabia and the UAE can further reduce the alliance's dependence on Western financial institutions,...

Budapest, Hungary--Senior officials from the UAE and Hungary met in Budapest on 22nd August for the inaugural round of the Political Consultations Committee between the UAE’s Ministry of Foreign Affairs and Hungary’s Ministry of Foreign Affairs and Trade. The UAE delegation was led by Ambassador Lana Zaki Nusseibeh, Assistant Minister...

New Delhi. India - DP World on Friday signed a concession agreement with the Deendayal Port Authority to develop, operate and maintain a new 2.19 million TEU per annum mega-container terminal at Kandla in Gujarat on India’s western coast. The project involves the construction of a mega-container terminal at Tuna-Tekra...

ABU DHABI, UAE - Borouge's Chief Operating Officer Dr. Hasan Karam has said the fifth polypropylene unit (PP5) played a significant role in H1 2023, contributing US$209 million (AED767 million) representing 22 percent of the company's propylene sales and 10 percent of our overall turnover. In a statement to the...

Dubai, UAE - Savings deposits held by UAE banks, excluding interbank deposits, totaled approximately $73.01 billion (AED268.6 billion) by the end of June 2023. According to the latest data from the Central Bank of the UAE, these deposits experienced a monthly growth rate of 5.8%, equivalent to an increase of...

Abu Dhabi, UAE -- The Ministry of Human Resources and Emiratization (MoHRE) of the UAE and job search and recruitment platform Bayt.com have signed an MoU to enhance the retention of competent talent working in the Emirates' labor market. The MoU was signed by Khalil Al Khoori, Undersecretary of MoHRE...

DUBAI, UAE - Dubai Chambers has contributed to the emirate’s drive for sustainability by saving a total of 72,239 litres of water between June 2022 and June 2023, equivalent to 3,822 five-gallon bottles. The savings were achieved as part of the chambers’ participation in ‘Dubai Can’, a sustainability initiative launched...

Argentina, Egypt, Iran, and Ethiopia are the four other member countries joining BRICS, underscoring its commitment to a more inclusive global stance, effective from January 2024.

The conference will focus on practical aspects, unifying action, and establishing partnerships, as well as aligning efforts to transition from planning to implementation, to deliver tangible results and deal with climate challenges. The COP28 Presidency seeks to deliver a “human-centric COP”, she adds.

The company logged a 34% surge in EBITDA.

Abu Dhabi, UAE - The UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri, affirmed on Tuesday the UAE's readiness to host the upcoming Conference of the Parties (COP28) this November, in collaboration with all associated partners and entities. She underscored the UAE's pivotal role in advancing...

The funding aims to expedite growth by bolstering sales team.

DUBAI, UAE - The Customs Intelligence Management within Dubai Customs has successfully thwarted two separate attempts to smuggle controlled drugs and restricted medications via air shipments into the country. The total haul amounted to 171,600 pills and these operations underscore the department's resolute stance against illicit activities. In the first...

South Africa has revealed potential BRICS expansion plans at the Johannesburg summit, with keen interest shown by Middle Eastern nations, notably UAE and Saudi Arabia.

RAS AL KHAIMAH, UAE - Ras Al Khaimah Economic Zone (RAKEZ) reported a remarkable surge in the registration of holding companies since introducing this company structure in 2020. The consistent rise in registrations highlights the growing appeal of this innovative investment vehicle, as the total number of holding companies rose...

Surpassing pre-pandemic levels, more than 40 million passenger visits were recorded at Dubai international airport in the first half of the year, a 50 percent jump. According to its operator, the airport, busiest for international passengers before Covid-19, the passenger traffic went well past the number recorded in the first...

Abu Dhabi, UAE--UAE stocks generated strong cash flows on Monday as the International Holding Company (IHC) maintained robust performance and closed at AED400.6, following more than $59.14 million worth of transactions. Multiply Group gained $43.75 million in liquidity, closing high at AED3.670. Emirates Insurance Company (EIC) was the best performer...

Abu Dhabi, UAE--The Central Bank of the United Arab Emirates (CBUAE) has revealed that its total foreign assets increased to $161.22 billion at the end of June, from $160.70 billion in May. The UAE's current account balances and deposits with banks abroad amounted to $99 billion by the end of...

Aim is administration of Employee Money Purchase schemes.

ABU DHABI, UAE - The Abu Dhabi Chamber of Commerce and Industry has signed a Memorandum of Understanding with the Ethiopian Investment Commission (EIC) to foster the robust economic collaboration between the two sides. The MoU also aims to establish a framework for cooperation that advances trade, investment and economic...

Algiers, Algeria - Abdelkader Bengrina, the leader of Algeria's National Construction Movement and a member of the government coalition, has reiterated his criticism of the United Arab Emirates' (UAE) involvement in the Maghreb and Sahel region, citing concerns over the tensions it creates for Algeria. Speaking during the National Symposium...

Latakia, Syria--The Emirates Red Crescent (ERC) has inaugurated the Al Naqa housing project in the Latakia Governorate in Syria. The ERC announced in April the construction of 1,000 prefabricated housing units in seven areas in the Latakia Governorate worth $18 million to assist Syrian families affected by the earthquake that...

Amid Russian-Ukrainian war, Europe aims to diversify its energy sources, with Gulf countries like Qatar, UAE, Oman, and Saudi Arabia offering alternative natural gas options.

Dubai, UAE -- The Arab Brazilian Chamber of Commerce (ABCC) recorded a surge of 8 percent in Brazilian exports to the Arab world during the first seven months of 2023, totaling to $10.61 billion, compared to $9.825 billion in the same period in 2022. Brazilian exports to the the kingdom...

Asif Khan finished off the job with an unbeaten 48 as he smacked New Zealand skipper Tim Southee for three boundaries in the 16th over to seal a famous victory with 26 balls to spare. Mark Chapman's 63 was the standout contribution in New Zealand's 142-8.

As Middle Eastern countries rise economically and their populations grow, Malaysia sees a bigger role in fulfilling the region's growing demand for edible oils and fats.

GANDHINAGAR, INDIA - Minister of State for Financial Affairs Mohamed bin Hadi Al Hussaini and Assistant Minister of Foreign Affairs for Health Dr. Maha Barakat led the UAE’s delegation in the G20 Joint Health-Finance Ministers Meeting (JHFMM). The meeting discussed the progress made by the Joint Finance and Health Task...

ADDIS ABABA, ETHIOPIA - UAE Ambassador to the Federal Democratic Republic of Ethiopia Mohammed Salem Al Rashidi said that the historical relations between the two countries have witnessed remarkable progress over the past few years. This reflects the distinguished friendship between the leaderships of the two countries, and the exchange...

There are more than 121 Emirati companies operating in the Ethiopian market, contributing to enriching relations between the two countries in the economic aspect, including Julphar Gulf Pharmaceutical Industries Manufacturers, Jenaan Investment, Masdar, Emirates Steel Arkan, DP World, and other leading Emirati companies, he adds.

Dubai, UAE - Dubai's real estate market continues its upward trajectory, with house prices rising by 4.8% in Q2 2023, marking the 10th consecutive quarter of growth, according to a report by global property consultant Knight Frank. This growth trend has led to an average increase of 24% in residential...

Abu Dhabi, UAE-- As the UAE President Sheikh Mohamed bin Zayed visits Ethiopia to strengthen relations with the African country, the non-oil trade between the two nations has expanded to US$1.4 billion in 2022. According to Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, the UAE’s...

The two leaders met in Addis Ababa and held talks on various aspects of bilateral relations, in addition to broader regional and international issues of mutual interest. The focus of the discussion was boosting areas of cooperation, including economic, investment, and development ties, across all sectors to increase prosperity of...

The UAE labor law has introduced changes to support remote workers, but there are still gaps compared to European countries, Liam Dogerty of Connect Resources tells TRENDS.

Dubai, UAE -- Real estate transactions valued at more than AED 10.4 billion ($2.83 billion) were recorded in Dubai during the week ending 18 Aug 2023. Of the total 3,571 transactions,120 plots were that sold for AED1.2 billion and 2,782 apartments and villas were that went for AED6.86 billion. The...

"The UAE's humanitarian endeavors and diplomacy have resonated globally, exemplifying unity and camaraderie to pave pathways of hope. We have always been, and will continue to be, committed to uplifting the stature of individuals and humanity at large,” adds Abdulrahman bin Mohamed Al Owais, the UAE’s Minister of Health and...

Dubai, UAE -- Dubai's real estate market recorded deals worth AED 2.4 billion ($653 million) on Thursday, according to Dubai Land Department. The deals included 591 sales transactions worth AED1.76 billion on Thursday, in addition to 125 mortgage deals totaling AED613.72 million, and 36 gift deals amounting to AED98.44 million....

Sharjah, UAE -- Sharjah has recorded real estate transactions worth AED1.9 billion ($517 million) during July 2023, according to the monthly report issued by Sharjah Real Estate Registration Department. The department executed a total of 2,783 transactions, including 684 sales transactions across 96 areas in various regions of the emirate and...

The company's revenue grew 13.9 percent to $9.03 billion.

The financial landscape of Saudi Arabia and the UAE is undergoing a significant transformation, with most adults in the region experiencing an increase in their wealth.

Dubai, UAE-- The UAE's General Sports Authority (GSA) and the International Skating Union (ISU) and International Ice Hockey Federation (IIHF) have discussed opportunities for cooperation and partnership to boost winter sports, such as skating and ice hockey in the UAE. In this regard, Sheikh Suhail bin Butti Al Maktoum, Executive...

ABU DHABI, UAE - A two-day meeting of world leading economists and finance leaders convened by the COP28 Presidency has stated the next steps needed to establish a new framework for international climate finance and to drive progress at COP28 and beyond to COP29 and COP30. World-leading economists from the...

DUBAI, UAE - MD and CEO of Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer said on Wednesday that Saudi Arabia’s ACWA Power is the “preferred bidder” for the construction and operation of the 180 Million Imperial Gallon per Day (MIGD) Sea Water Reverse Osmosis Hassyan Phase 1...

Ras Al Khaimah, UAE - Chinese companies are seeking business opportunities in the Ras Al Khaimah Economic Zone (RAKEZ) as they plan to navigate the business landscape and strategic investment opportunities in the UAE. Post its successful business tour to major Chinese cities earlier this year, the economic zone hosted...

In 2022, 45 percent of adults in Saudi Arabia had a net worth of less than $10,000, against 43 percent of adults in the UAE, according to Global Wealth Report 2023.

"The UAE possesses essential capabilities such as modern infrastructure, a commendable track record in sustainability and environmental conservation, recognition as a successful convener of global events, and deep-rooted relations with other countries," he adds while reviewing the preparations to host COP28 in the country later this year.

The Group posted revenues of $79 million in the second quarter.

The company attributed growth to increased volume across key sectors.

Houston, United States - As part of NASA’s 2021 astronaut candidate class training programme, Emirati astronauts Nora Al Matrooshi and Mohammad Al Mulla conducted spacewalk training at NASA's Neutral Buoyancy Laboratory (NBL) at the Johnson Space Centre in Houston, Texas. Following the recent series of demanding exercises including survival training...

Abu Dhabi, UAE -- More than AED 4 billion ($1.08 billion) were confiscated during the past two years by UAE's Ministry of Interior in collaboration with international law enforcement agencies, whose combined efforts led to the arrest of 387 wanted individuals in 521 money laundering cases. Lt. Gen. Sheikh Saif...

ABU DHABI, UAE – ADNOC and the National Central Cooling Company (Tabreed) on Monday announced a breakthrough following the conclusion of testing on two geothermal wells at Masdar City here. The landmark project, the first in the Gulf region, is set to decarbonize the cooling of buildings in Masdar City,...