ABU DHABI, UAE - Saudi Arabia’s holdings of US Treasuries reached US$131.9 billion in December 2023, up $3.8 billion month-on-month, new data released by the US Treasury showed. The Kingdom maintained 16th place among the largest holders of US treasury securities for the month.  Saudi Arabia’s holdings of US Treasuries were distributed among long-term bonds worth...

The United Arab Emirates has accused the defendants of forming a "terrorist" organization called the "Committee for Justice and Dignity" with the aim of inciting popular protests and a "violent revolution" in the wake of the 2011 Arab Spring uprisings across the Middle East.

The rise was due to the hospitals and pharmacy segments.

ABU DHABI, UAE - The Abu Dhabi Roadmap, a high-level plan outlining global recommendations to bolster Environmental Education (EE) and Education for Sustainable Development (ESD), was revealed on Day Four of the 12th World Environmental Education Congress (WEEC2024) here. A culmination of four days of vibrant discussions, workshops and events...

Abu Dhabi, UAE - Since its launch in June 2022 through mid-February 2024, the Abu Dhabi Judicial Department's (ADJD) Auction App has generated over AED3.4 billion ($925 million) in sales. In more detail, 333 properties worth AED3,401,835,871 ($926,361,975), have been sold in addition to 1013 vehicles valued at AED78,277,025 ($21,334,933),...

Two emerging construction processes gaining popularity, especially in the MENA region, are 3D printing of concrete structures and offsite construction. These methodologies significantly reduce material waste, enhance construction quality, offer more controlled and safer work environments, and optimize project timelines, he adds.

The global pipe maker invested US$60m in the business.

The annual net profit in 2022 was US$470 million.

The company reported a net profit of $204 million.

Revenue growth driven by ports, logistics, and digital clusters.

Access to reliable, high-speed internet will "enable potentially life-saving medical consultations via real-time video calling," UAE Foreign Ministry spokesperson Afra Al Hameli said on social media, welcoming the deal. Gaza's hospitals have been overwhelmed by more than four months of war, during which 68,291 people have been wounded according to...

Dubai, UAE-- The World Governments Summit (WGS) has ushered in a new decade of positive impact, inspiring governments and societies to join the global community in its ongoing journey to shape the future, according to Hamid Al Zaabi, Director-General of the Executive Office for Anti-Money Laundering and Counter Terrorism Financing...

According to the UAE authorities, the grand temple carved from pink stone spreads over an area of 55,000 square metres and is the largest traditional stone-built Hindu temple in the Middle East. Nearly 3.5 million Indian nationals, the largest expatriate community in the Gulf country, live in the UAE.

Its revenue jumped 41% to US$748 million in 2023.

Growth fueled by Ford Territory, F-150 and other models.

Turkey and Egypt cut ties in 2013 after Sisi, then Egypt's defense minister, ousted Islamist president Mohamed Morsi, an ally of Turkey and part of the Muslim Brotherhood movement. At the time, Erdogan said he would never speak to "anyone" like Sisi, who in 2014 became president of the Arab...

Dubai, UAE-- The UAE's economy has recorded the best growth rates in comparison to other economies in the region, according to Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF). He affirmed the UAE's robust economic performance in recent years, highlighting its...

Dubai, UAE-- As many as 81% of people in the UAE say that they owe it to future generations to make drastic changes to the way they are living, as reported by the What Matters 2024 report from Human8, the human-centric and insight-driven consultancy. More than 4 out of 5...

With 40 percent of UAE workers already exploring generative AI, the nation stands as a beacon of tech adoption, far surpassing the global average, say a report.

The firm recorded a 27 percent rise in profit compared to 2022.

The Group's revenues surged 56 percent to $4.54 billion.

Dubai, UAE -- American hardwood lumber (sawn timber) shipments to the Middle East and North Africa (MENA) region reached $61.14 million and a volume of 74,791 cubic meters in 2023, according to the American Hardwood Export Council (AHEC). Significant increases were seen in exports of American hardwood lumber to the...

"We've collaborated closely with the World Governments Summit for over a decade. It presents a vital opportunity to foster innovative thinking and concentrate on best practices. Indeed, each year, it allows us to focus keenly on the current challenges and opportunities," he adds.

Dubai, UAE--South Korea has pressed for boosting cooperation with the UAE in the field of advanced technology and artificial intelligence (AI) to enable digital government. This was stated by Dr. Koh Jean, Chairman of the Presidential Committee on the Digital Platform Government in the Republic of Korea, on the sidelines...

The UAE hosted last year's COP28 conference in Dubai, while Azerbaijan will host this year's summit followed by Brazil in 2025. The three countries were mandated by 198 signatories to the Dubai agreement to work together on a roadmap to limit global warming to 1.5 degrees Celsius, a key climate...

The fund has an existing portfolio valued at US$158m.

DUBAI, UAE- As Houthi attacks roil the Red Sea and Western air raids target the rebels, moves to end Yemen's long-running war are at a standstill, threatening further woe for a country on its knees. As recently as December, painstaking negotiations were gaining ground and the United Nations said the warring...

Dubai, UAE - About 63% of respondents in the UAE plan to make EVs their primary mode of transport by 2025, reveals a survey by Al-Futtaim Automotive, a major division of the Al-Futtaim Group and Strategic E-Mobility Partner, The survey indicating a significant shift in UAE residents' perspectives towards electric...

ABU DHABI, UAE – The Emirates General Pension and Social Security Authority (GPSSA) has issued a circular to government and private sector employers, detailing the regulations for pension deductions and end-of-service gratuity in line with Federal Decree Law No. 57 of 2023. The circular included limiting the procedure of deduction...

ABU DHABI, UAE - Secretary-General of the Organization of Petroleum Exporting Countries Haitham Al Ghais said that OPEC is in active talks with several nations eager to join the OPEC+ Charter of Cooperation, following the recent accession of Brazil. The names of these countries will be announced after the completion...

From Saudi Arabia to the UAE and Qatar to Kuwait, governments across the region compete to jumpstart industrial sector but doubts remain whether it can be pulled off.

Form Saudi Arabia to the UAE, Qatar to Kuwait, governments of the region compete to jumpstart an industrial sector. But doubts remain whether it can be pulled off.

Dubai, UAE -- Ministers of labor and human resources from 16 Asian countries sending and receiving workers have called for using advanced technology in innovative initiatives aimed at resolving labor disputes and expediting verdicts. They also aimed to strengthen wage protection systems and facilitate skill mobility among participating countries. The...

The United Arab Emirates' defense ministry said that the soldiers were "exposed to a terrorist act" while "performing their work duties in training and qualifying the Somali Armed Forces". The ministry, without giving further details, said that two others were wounded in the incident.

The firm posted a year-on-year net profit rise of 316 percent.

Dubai, UAE  – Al-Futtaim Electric Mobility Company, the official distributor of Polestar in the UAE, have announced the official launch of Polestar 3, the electric SUV. Polestar 3 is also the brand’s first vehicle planned to be produced on two continents – marking a milestone in green mobility in the...

DUBAI, UAE - A total of 3,543 real estate transactions worth over US$2.6 billion (AED9.8 billion) were conducted during the week ending February 9, 2024, according to data released by the Dubai Land Department (DLD). The DLD report showed that 197 plots were sold for US$315 million (AED1.61 billion), while...

Expanded investment and record development sales boosted profit.

DUBAI, UAE – DMCC successfully concluded its most recent Made for Trade Live tour of the US, hosting events in New York, Brooklyn and Washington DC as it continues to build on growing bilateral trade and investments between the two countries. In 2023, DMCC saw a rise of over 10...

Saudi Arabia, home to the holiest sites in Islam, has never recognised Israel, though officials were considering doing so before the Hamas' October 7 attack. Israeli ground offensive has killed at least 27,840 people, mostly women and children, according to the Gaza health ministry.

Abu Dhabi, UAE-- The UAE's real GDP will grow 5.3 percent in 2024, compared to 3.4 percent in 2023, according to S&P Global Ratings, the world's leading credit rating agency. The credit rating agency in a new report said that UAE banks reported exceptional profits for the full year 2023...

Emaar property sales rose to US$ 11 billion in 2023.

Total assets grew 25% in 2023 on strong growth in loans, advances.

The net profit grew by 5.1 percent to $155 million.

ABU DHABI, UAE - Aldar Properties has announced the awarding of 49 contracts, totaling US$5.9 billion (AED22 billion), for a series of projects, including infrastructure, residential, commercial and mixed-use developments across Abu Dhabi in 2023. The contracts were awarded to 36 UAE-based companies with almost 50 percent of the value...

Dubai, UAE -- The Dubai Land Department (DLD) records an all-time high of 1.6 million transactions worth AED 634 billion ($172 billion) in 2023. The value of transactions increased by 20 percent and the number of transactions surged by 36 percent. Real estate investments' value grew by 55 percent during...

The EDITDA of $1bn benefited from OPEX saving of $28m.

ABU DHABI, UAE - President Sheikh Mohamed bin Zayed Al Nahyan spoke by telephone to President of the Russian Federation Vladimir Putin to discuss bilateral relations and opportunities to further strengthen UAE-Russia ties. During the telephonic conversation on Monday, Putin expressed his gratitude to Sheikh Mohamed for the UAE’s successful...

SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) has announced a series of significant achievements of the year 2023, underscoring its multifaceted endeavors in bolstering the business community. In 2023, the Chamber saw a notable increase in its total registered memberships, reaching 72,187, with 7,160 new members...

The acquisition of 44% stake is valued at US$211.20 million.