DUBAI, UAE  - A total of 2,790 real estate transactions worth US$2.6 billion (AED9.6 billion) were conducted during the week ending December 30, 2022, according to figures released by the Dubai Land Department (DLD). The DLD report showed that 179 plots were sold for US$378 million (AED 1.39 billion), while...

DUBAI, UAE  -  Dubai Courts signed a Memorandum of Understanding with Moro Hub, a subsidiary of Digital DEWA, the digital arm of Dubai Electricity and Water Authority, to enhance their collaboration in digital transformation and cybersecurity. Leveraging on Moro’s capabilities in the digital security field, the MoU will serve the...

ABU DHABI, UAE - The Environment Agency – Abu Dhabi (EAD) has imposed 32 administrative fines, totaling US$89,312 (AED328,000) since last April. Sheikh Hamdan bin Zayed Al Nahyan, Ruler's Representative in Al Dhafra Region and Chairman of the Board of Directors of EAD had last April taken the decision regarding...

Many markets in the Middle East and Africa show a larger gap between affluent and non-affluent households in 2019 vs 2022 discretionary spending.

Since the COVID-19 outbreak, GCC banks have experienced a growth of more than 10 percent annually, a positive sign that is likely to earn a higher return on equities.

DUBAI, UAE - A Dubai court Thursday authorized the extradition of a British national wanted over an alleged 1.7 billion euro tax fraud in Denmark, the suspect's defense team said, ahead of a further ruling by a higher court. Hedge fund trader Sanjay Shah was arrested in Dubai in June,...

ABU DHABI, UAE - Participants in the second Justice Partners Forum organized by Abu Dhabi Judicial Department (ADJD) discussed the Federal Decree-Law No. 35 of 2022 Promulgating the Law of Evidence in Civil and Commercial Transactions. Held under the title Legislative Developments for a Fair Environment Enhancing Development and Investment,...

Fujairah, UAE-- The Board of Directors of the Fujairah Chamber of Commerce and Industry stressed the importance of encouraging private sector companies and institutions in the emirate to improve their products, given the major role they play in driving sustainable and economic development. The board made this statement during its...

The Unemployment Insurance Scheme (UIS) aims to create a low-cost job safety net that supports employees in their professional journey.

The Saudi and UAE construction sectors contributed the most to their countries' GDPs, with around $45.5 billion and $36.8 billion, respectively, AMF report said.

Luxury segment is set to hit US$ 11bn by 2023 as retailers in the GCC are reporting increased sales due to rising inflation and consumer spending on basics, says a survey.

The final match, that saw Argentina claiming their second World Cup trophy after beating France 4-2 on penalties, recorded 242.8 million views on beIN SPORTS free-to-air channel.

The UAE - like other oil-rich Arab Gulf states - has often used the public sector as an employment vehicle for its nationals. But times are changing, said 34-year-old Emirati researcher Khalifa al-Suwaidi, who has himself been looking for a private sector job since quitting a government post in June....

Dubai, UAE----Dubai real estate market recorded deals worth AED1.5 billion ($408 million) on Monday, Dubai Land Department said. The deals included 515 sales transactions worth AED1.44 billion and 19 gift deals amounting to AED137.87 million. The sales included 483 villas and apartments worth AED1.14 billion, and 32 land plots worth...

The general budget for this year aims to achieve financial sustainability and enhance the economic competitiveness of the emirate.

The council highlighted the need for all authorities and institutions to activate their cyber defence systems.

Sustainability remains key focus as the UAE and Saudi Arabia speed up digitalization, which has been the fundamental pillar of the transformative economic goals of the GCC nations.

ABU DHABI, UAE  - The Ministry of Economy has announced that Creative Zone, one of the UAE's largest consulting and business establishment companies, has joined the NextGenFDI initiative. The NextGenFDI program, which was launched in July 2022, aims to attract digitally-advanced companies to the UAE and develop the next generation...

DUBAI, UAE :  The Dubai Land Department (DLD) launched its new strategic plan and vision, shaping the features and landmarks of its directions until 2026. The new plan has been approved by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council...

DUBAI, UAE -  The Dubai Electricity and Water Authority (DEWA) under-construction pumped-storage hydroelectric power plant site in Hatta is 58.48 percent complete. This is the first station of its kind in the GCC, with investments of up to US$387 million (AED 1.421 billion). The project is planned for completion in...

In the first nine months of 2022, real estate transactions in the region totaled more than US$143bn, surpassing the full-year US$136.9bn figure during 2021, says Kamco Invest.

DUBAI, UAE -  UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri presided over the first meeting of the Farmers’ Council. The meeting was organized by the Ministry of Climate Change and Environment (MOCCAE). The meeting highlighted the government directions to promote sustainable modern farming systems across...

DUBAI, UAE - The ninth Sustainability Report 2021 issued by Dubai Electricity and Water Authority (DEWA) highlights its efforts and achievements in supporting sustainable development in all its economic, social and environmental aspects. It introduces partners, relevant entities and all stakeholders to its performance and practices in sustainability. The report...

Rabat, Morocco-- The UAE and Morocco are looking at ways to bolster cooperation and exchange experiences in order to combat terrorism. In this regard, a delegation from the Executive Office for Control and Non-Proliferation (EOCN), headed by Rashid Al Mannai, Director of the Targeted Financial Sanctions Department, met with members...

The introduction of new laws regarding the ownership structure of mainland companies may boost the Gulf country's economy in 2023 as it is expected to attract more investors.

Saudi market's primary index fell for the eighth week in a row. Abu Dhabi index fell for four of five days. Dubai's main index fell three days out of five this week.

DUBAI, UAE - The UAE Council for Environmental and Municipal Work held its second meeting, chaired by Mariam bint Mohammed Almheiri, Minister of Climate Change and the Environment. The meeting saw the roll-out of the Waste-free Schools project that aims to promote the adoption of circular economy principles in schools....

Through strategic investments in our vehicles, services, businesses and technologies, we are leading the way toward a cleaner, smarter and safer society, adds West, the Managing Director of OnStar Middle East Operations and Future Mobility General Motors Africa and Middle East.

The conference was organised in collaboration with the Cyber Security Council with the participation of 10 biggest healthcare groups of Abu Dhabi.

Abu Dhabi, UAE-- The UAE Public Prosecution has ordered the arrest of a private company director who was proven to have faked the employment of Emirati citizens. The suspect allegedly forged e-documents, faked employment contracts, and falsely stated that his company had hired Emirati citizens, with the aim of obtaining...

Ajman, UAE--Abdullah Al Muwaiji, Chairman of the Board of Directors of Ajman Chamber of Commerce and Industry (ACCI), has affirmed the Chamber's keenness to consolidate its external relations and build strong partnerships to achieve sustainable future growth for the economy of the Emirate of Ajman. This came during his meeting,...

The move will help Dubai in becoming a cashless economy.

Sharjah, UAE--- A Women under the age of 40 lead 77.6 percent of the women-owned businesses in the UAE, a survey has said. The survey conducted by NAMA Women Advancement, in partnership with UN Women, found that of the 1,000 female business owners who took part in the survey, 48.8...

Abu Dhabi, UAE--The UAE-led ‘Beyond2020’ humanitarian initiative has provided a safe source of water for about 20,000 residents of the villages of ‘Tawit’ and ‘Tahjr’ in Kassala State, eastern Sudan. Under the initiative, two small solar-powered water basins were erected in accordance with a groundwater pumping system to provide 20...

The UAE is the second leading trading partner of Canada in the Gulf Cooperation Council (GCC) and the region in 2021.

High growth rates in the UAE and Saudi Arabia economies are positive indicators for consultancies, says Vijay Valecha, Chief Investment Officer, Century Financial.

Muscat, Oman - Saeed bin Hamoud Al Maawali, Omani Minister of Transport, Communications and Information Technology, has said that the digital economy of the Gulf Cooperation Council (GCC) region is advancing at a rapid and significant pace, noting its major importance to GDP. He noted the importance of promoting cooperation...

ABU DHABI, UAE  - UAE's Ministry of Finance (MoF) has launched a Corporate Tax Public Awareness Program following the issuance of the Federal Decree-Law on Taxation of Corporations and Businesses. The launch of the program was announced during a media briefing held Thursday by the ministry to raise public awareness...

Abu Dhabi, UAE---The Central Bank of the UAE (CBUAE) has issued a new guidance on anti-money laundering and combatting the financing of terrorism (AML/CFT) for the Licensed Financial Institutions (LFIs) in the insurance sector comprising insurance and re-insurance companies, agents and brokers. The guidance, which comes into effect immediately, will...

MONTREAL, CANADA -  UAE Minister of Climate Change and the Environment  Mariam bint Mohammed Almheiri participated in the High-Level Segment (HLS), the second part of the 15th UN Biodiversity Conference (COP15), that took place in Montreal, Canada. The HLS, which took place from December 15-17, 2022, aimed to enable participating...

DUBAI, UAE -   MD & CEO of Dubai Electricity and Water Authority (DEWA)    Saeed Mohammed Al Tayer has launched the construction work for the Hatta Sustainable Waterfalls project. The  US$12 million (AED 46 million) project was recently awarded to DEWA and is part of the company's social and investment responsibility...

Sheikh Abdullah affirmed the UAE's keenness to strengthen the strategic partnership with Israel and advance bilateral cooperation in various fields.

“E-commerce sales via marketplaces will continue to grow in double-digit percentages in 2023, driven by a higher proportion of cross-border shopping, and ongoing increase in the adoption of credit cards, and logistics services such as Aramex’s Shop & Ship, MyUS and DHL’s Easy Shop,” he adds.

The adoption of digital currencies can help open new business segments as the use of these assets increases with time, Daniel Takieddine, CEO of MENA BDSwiss, tells TRENDS.

Saudi Hassana will invest $2.4 bn in some of DP World's assets.

Businesses in the region are working closely with their governments to get cloud security solutions implemented to reduce the success rates of phishing attempts.

WASHINGTON, UNITED STATES - The United States plans a meeting early in 2023 between Israel and Arab nations that recognize it as it pushes the incoming right-wing government of Benjamin Netanyahu to show restraint, a US official said Tuesday. Netanyahu is set to take office with the most right-wing government in...

Abu Dhabi, UAE - The UAE has affirmed full support and solidarity with Jordan, stressing the importance of ensuring stability and security in the country. The Ministry of Foreign Affairs and International Cooperation (MoFAIC) expressed the UAE's support for all measures taken by the Jordanian government. It said UAE condemns...

DUBAI, UAE  - Nearly 2,000 global business executives and investors attended the World Corporate Summit in Dubai to share in the vision of improving the world through business. Held in Dubai from November 21 till December 15 2022 at the Palace Downtown Hotel, this summit which was supported by Dubai’s...

In its Q3 review, the apex bank attributed the upward review to the robust performance of some non-oil sectors, including tourism, hospitality, real estate and manufacturing.