Abu Dhabi, UAE - The UAE Ministry of Investment (MoI) announced today its support and key role in the advancement of the Ras El Hekma project and the participation of Emirati companies in its expansion and growth plan. This project is one of Egypt’s most ambitious coastal city developments.Located approximately...

Oil prices shoot up as Biden suggests that Israel might target Iranian oil facilities, while GCC Arab states, including Qatar, Saudi Arabia, and the UAE, reassure Iran of neutrality in the conflict between Tehran and Israel.

Abu Dhabi, UAE -- Net investments by foreigners and institutions in UAE equities amounted to AED 18.3 billion ($4.9 billion) as a result of purchases during the first nine months of this year, distributed by AED 15.6 billion in the Abu Dhabi market and AED 2.64 billion in the Dubai...

Doha, Qatar - Qatar has emerged as the leading player in the Middle East tourism sector, boasting an impressive 147% increase in tourist arrivals during the first half of 2024 compared to pre-pandemic levels, as reported by UN Tourism. This growth positions Qatar ahead of its regional competitors, with Saudi...

Abu Dhabi, UAE -UAE's airports experienced a 14.2 percent increase in passenger traffic, in the first half of 2024, handling over 71.7 million travelers compared to 62.8 million in the same period last year, latest data issued by the Central Bank of the UAE (CBUAE) showed.“Passenger traffic at the Abu...

‘’In close partnership, we are working to advance multilateral diplomatic solutions and provide urgently needed humanitarian assistance in Gaza and Sudan. Our ongoing defense and counterterrorism cooperation makes our countries and the world more secure. U.S. and UAE troops have stood shoulder to shoulder in six conflicts over the last...

The banking sector in the country maintained strong capital adequacy, exceeding Basel 3 requirements, according to the Central Bank.

Experts from the United Nations have warned that Israel might become a pariah state, and its UN membership is under question as Tel Aviv continues to commit genocide in Gaza killing more than 40,000 people since October 7, 2023. Experts also reprimanded the Western countries for double standards on Netanyahu’s...

Dubai, UAE -- Dubai Corporation for Tourism and Commerce Marketing (DCTCM) has confirmed that 25 percent of visitors to Dubai are repeat visitors, reflecting their satisfaction with the experience the city has to offer.Speaking at a keynote session on the second day of the Dubai AI and Web 3 Festival,...

Abu Dhabi, UAE -- The Central Bank of the UAE (CBUAE) revealed that total banking assets, including bank acceptance certificates, rose to AED 4.31 trillion ($1.16 trillion) at the end of June, a month-on-month increase of 0.5 percent, compared to AED 4.28 trillion in May 2024.In a report entitled "Monetary and...

Dubai, United Arab Emirates - In a Dubai recording studio, hijab-clad Ghaliaa Chaker tunes her guitar and belts out original songs as she builds a career that is turning heads for more than just her music.The 26-year-old Syrian, who was raised in the United Arab Emirates, has become a social media...

Rolls-Royce said on Thursday it was launching "a one-time precautionary engine inspection programme" which may apply "to a portion of the A350 fleet". The first A350 was delivered to Qatar Airways at the end of 2014. A total of 87 A350-1000 aircraft are currently in service worldwide.

The UAE, relying on domestic workers (5% of the population), invests $3 billion annually, highlighting the rising demand for domestic help among local and expatriate families.

Abu Dhabi, UAE -- The market capitalization of the top 20 listed companies in the local stock markets by market capitalization reached AED 2.8 trillion ($762.44 billion) by the end of this week, while further growth is expected in line with the markets' plans to double their market capitalization to...

The strategy focuses on risk-based compliance, international cooperation, effective supervision, and disrupting illicit financial activities through improved data collection, analysis, and regulation updates.

Paris, France -- Telegram chief Pavel Durov was spending Thursday out on bail after four days of detention in France, banned from leaving the country as he faces a possible trial related to illegal content carried on his messaging app.Russian-born Durov, dressed in black and wearing dark glasses, walked briskly out...

"The UAE is closely following the case of its citizen Pavel Durov, founder of Telegram, who was arrested by the French authorities in Paris–Le Bourget Airport," UAE foreign ministry said in a statement. Durov, the 39-year-old billionaire founder of the messaging platform, was arrested at the Paris airport late on...

Abu Dhabi, UAE -- UAE national carriers continued to expand their destinations for passengers, supported by the UAE's leading position as a preferred global destination for tourism and business, as well as the recovery in travel demand.National carriers are expected to continue to fly to new heights of growth in...

It became just the second country after China to do so. The UAE said it was committed to "building bridges" to help the Afghan people, after the Kabul foreign ministry announced on social media that new ambassador Mawlawi Badruddin Haqqani had been received in a ceremony in Abu Dhabi.

Abu Dhabi, UAE-- Abu Dhabi Airports has expanded its existing collaboration with Paris Airports Group (ACG) to focus on collaborating on the creation of the ground infrastructure needed to provide advanced air transport applications in Abu Dhabi.Based on the agreement signed between the two parties on the sidelines of the...

Dubai, UAE - Dubai's real estate market reached a new peak in July, with sales hitting an all-time high of AED50.1 billion ($13.6 billion). Although the market continued to grow, the year-on-year increase slowed to 33% from 53% in June, reflecting a high base effect from the same period in...

Abu Dhabi, UAE -- The IPO market in the Middle East and North Africa (MENA) region remained resilient during the second quarter of this year, with 14 IPOs registering total proceeds of US$2.64 billion, up 45.3 percent compared to the same period last year.According to the Ernst & Young report...

Dubai, UAE - Dubai has reinforced its position as a global tourism leader by welcoming a record 9.31 million international overnight visitors in the first half of 2024, marking a 9 percent increase from the 8.55 million visitors during the same period in 2023. The achievement is aligned with the...

Under the MoU, both parties will coordinate events aimed at strengthening ties between exporting companies from Dubai and Chile and supporting the expansion of these companies in both markets by creating promising business opportunities.

Dubai, Saudi Arabia - Dubai Financial Market (DFM) today announced its consolidated financial results for the period ended June 30, 2024, with net profit before tax growing to AED 195.4 million (USD 53.2 million), marking a significant 74 percent increase over the same period in 2023.The first half of 2024...

New Delhi, UAE - The number of Indians living in the Gulf Cooperation Council (GCC) countries has crossed nine million, India's Minister of State for External Affairs, Kirti Vardhan Singh, told Parliament yesterday.Indians are employed in a wide range of professions from highly qualified fintech, healthcare, information technology, engineering and...

Washington has said repeatedly that it opposes post-war government of Gaza by either Israel or Hamas and has called for a reformed Palestinian Authority to take charge instead. The Palestinian Authority has had no presence in Gaza since Hamas seized sole control of the territory in 2007.

The company aims to expand UAE gas infrastructure, increase customer reach

Sharjah, UAE -- Sharjah's renowned landmark and award-winning family-friendly destination, Al Noor Island, has secured its place among the top 10 attractions in the Middle East by winning the prestigious 'Best of the Best' title for 2024 on the leading travel-review platform TripAdvisor.Developed and managed by the Sharjah Investment and...

Dubai, United Arab Emirates -- Energy majors TotalEnergies, Shell and BP will each take a 10 percent stake in a liquefied natural gas project in the United Arab Emirates, state energy giant ADNOC said Wednesday.Japanese trading company Mitsui & Co. will also acquire 10 percent of the Ruwais LNG plant, scheduled...

At an indoor pool in Dubai, three rowers battle artificial rain and simulated waves as they train for an Arctic voyage intended to highlight the perils of marine pollution with focus on plastics.Their quest will take the team from one extreme to the next.Home base is the United Arab Emirates,...

Dubai, UAE -- The Mastercard Economics Institute has revealed in its latest Travel Trends 2024 report a major shift in the travel industry this year, characterized by a significant increase in travel spending and strong growth in traveler traffic.This latest global report provides comprehensive insights into the evolving landscape of the travel...

Factors such as increased foreign investment, ambitious urban projects, and favorable regulatory reforms are expected to propel the real estate market forward, creating new opportunities for investors and stakeholders alike.

Dubai’s Roads and Transport Authority (RTA) has started the study and design of Phase II of ITS Improvement and Expansion Project, WAM reported.This phase aims to cover 100 percent of the emirate's main roads and adopt the latest intelligent technologies and software, such as the Cooperative Intelligent Transport Systems (C-ITS),...

The country has risen to the 7th spot in the IMD World Competitiveness Ranking, highlighting its robust economic growth, strategic advancements, and commitment to innovation and sustainable development.

Dubai, UAE -- Dubai on Monday announced an $8 billion plan for a stormwater runoff system, two months after an unprecedented deluge and widespread flooding brought the desert state to a standstill.The rainwater drainage network announced by Dubai ruler Sheikh Mohammed bin Rashid Al-Maktoum on social media platform X is set to...

Covestro's shares surged more than six percent in Frankfurt following the announcement, which comes after it first disclosed talks were ongoing with the UAE firm in September last year. "The discussions so far have shown that Covestro and ADNOC can generally reach a common understanding regarding core aspects of a...

Chinese electric car company Nio plans to expand to the Middle East this year, CEO William Li said on an earnings call Thursday, at a time when rivals have been increasing their global footprint, CNBC reported.The nearly 10-year-old company will also start shipping its lowest-cost brand, Firefly, in the first...

Political and business leaders in the Arabian Gulf region push for sustainability agenda to secure clean environment for the future generations. Calls have been made to work through collaborative models of private and public partnerships to achieve green goals.

Featuring the work of international women artists, "La Belleza" celebrates the deep connection between art and poetry.

President Sheikh Mohamed bin Zayed Al Nahyan is the first sitting UAE president to make a state visit to Asia's fourth-largest economy. During Seoul's President Yoon Suk Yeol's visit to the country last year, the UAE said it would invest $30 billion in South Korea.

For the second consecutive year, the Middle East is the fastest-growing real-time payments market globally, according to the 2024 Prime Time for Real-Time report, published by ACI Worldwide, a global leader in mission-critical, real-time payments software, in partnership with GlobalData, a leading data and analytics company. In the Middle East,...

Abu Dhabi, UAE -- The Federal Tax Authority (FTA) has issued a guide outlining the application of Corporate Tax to Free Zone Persons in line with the Free Zone Corporate Tax regime, which enables Qualifying Free Zone Persons to benefit from a zero percent Corporate Tax rate on Qualifying Income.The...

France and the United Arab Emirates on Tuesday signed a "strategic partnership" on artificial intelligence (AI) aimed at boosting cooperation between them, French Finance Minister Bruno Le Maire told AFP.

Jallad underscores the role played by RAK ruler Sheikh Saud in positioning the emirate as a magnet for SMEs and hub of industrial innovation

Total revenue increased by $269 million in the same period.

Dubai, UAE -- flynas, the Saudi budget carrier, has announced expansion plans for the UAE from September this year, which will increase the number of routes between Saudi Arabia and the UAE to nine, with flight frequencies surging to more than 20 daily flights.The carrier unveiled expansion plans for the...

The company launches Share Buyback Programme

Dubai, UAE -- Dubai welcomed 5.18 million international overnight visitors from January to March 2024, an 11 percent rise over the 4.67 million tourist arrivals during the same period in 2023, according to data published by Dubai Department of Economy and Tourism (DET) at the 31st edition of Arabian Travel...

Ajman, UAE - The Arabian Travel Market 2024 (ATM) kicks off in Ajman from May 6 to May 9, celebrating the emirate's cultural heritage, vibrant events, and array of tourism offerings."ATM 2024 marks a pivotal moment for Ajman as we unveil our commitment to Ajman Vision 2030," Mahmood Khaleel Alhashmi,...