UAE tourism generates $12.24bn in hotel revenues in 2024: Minister
Abu Dhabi, UAE -- Hotel revenues in the UAE reached approximately AED 45 billion ( $12.24 billion) in 2024, reflecting a 3 percent year-over-year growth, said Abdulla bin Touq Al Marri, Minister of Economy and Chairman of the Emirates Tourism Council. Hotel occupancy rates also climbed to 78 percent last...
‘UAE to reveal implementation map of Net Zero 2050 at COP27’
Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri said the UAE’s participation in the 27th session of COP27 in Egypt will be an affirmation of the country's pioneering model regionally and globally in facing the challenge of climate change.GAL signs MoU with GMF
The MoU is aimed at maintenance, repair, overhaul.UAE, Jordan ministers discuss global, regional issues
Jordan's Deputy Prime Minister and Minister of Foreign Affairs and Expatriates Ayman Safadi met with UAE Minister of Foreign Affairs and International Cooperation, Sheikh Abdullah bin Zayed Al Nahyan.Thousands of cyclists take part in annual Dubai Ride
Tens of thousands of cyclists rode down the skyscraper-lined superhighway that meanders through the middle of Dubai on Sunday morning, taking part in the Dubai Fitness Challenge event. In order to ensure safe passage for the cyclists, the RTA closed the road to traffic for nearly five hours.FANR highlights its robust nuclear safeguards regime
UAE's Federal Authority for Nuclear Regulation (FANR) has recently participated in the 14th Symposium on "International Safeguards: Reflecting on the Past and Anticipating the Future", hosted by the International Atomic Energy Agency (IAEA) at its headquarters in Vienna.Awareness campaign of DEWA digital services ends
Dubai Electricity and Water Authority (DEWA) has successfully concluded its awareness campaign among customers about its innovative digital services on electricity and water efficiency, reducing wastage and leaks, and following a responsible and sustainable lifestyle.UAE equities climb up while Saudi index drops
Propelled by sectors like telecommunications and utilities, the UAE stock exchanges posted gains this week, even as the Saudi equities took a tumble, pulled down by investment and finance.UAE’s FNC members discuss cooperation with German Parliament
Members of the UAE-EU Parliamentary Friendship Group of the Federal National Council (FNC), headed by Sarah Mohammed Falkinaz, Chairperson of the Group, met with Alexander Radwan, Member of the German Bundestag.Villas and apartments worth $479 million sold in Dubai on Thursday
Dubai, UAE---Dubai real estate market recorded transactions worth AED2.4 billion ($653 million) on Thursday, according to Dubai Land Department. A total of 842 sales transactions worth AED1.96 billion, in addition to 112 mortgage deals of AED487.55 million, and 17 gift deals amounting to AED30.97 billion were recorded during the day....UAE a safe global oil, energy supply source: OPEC chief
Since joining the OPEC, the role of the UAE has remained clear: to increase production, maintain economic growth, achieve diversification through other sources, and reduce costs. The Gulf country is a model for clear plans and mechanisms and their implementation, the official adds.UAE-China trade $64 bn in first eight months of 2022: Ambassador
Dubai, UAE---China-UAE bilateral trade has exceeded US$64 billion during the first eight months of 2022, which marked a 27.93 percent increase compared to the same period last year, according to a top Chinese diplomat. “China has become the UAE’s largest non-oil trading partner in the world, and the UAE remained...German industries explore investment opportunities in UAE
Some of Germany’s leading industrial companies participated in a roundtable event hosted by the UAE Ministry of Industry and Advanced Technology at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2022.UAE, Indonesia to cooperate in energy sector
UAE and Indonesia have signed a Declaration of Intent to boost economic and social development between the two countries and exchange knowledge and data in the energy sector.GCC states raise interest rates after Federal Reserve’s hike
Most of the GCC states have raised their key interest rates in the wake of the Federal Reserve's decision to raise its key policy rate by three-quarters of a percentage point. The two largest economies of the region, the UAE and Saudi Arabia, both raised rates by 75 basis points.UAE president, Biden meet virtually to discuss energy transition
The two leaders highlighted the just announced comprehensive UAE-US initiative to accelerate the energy transition.Brewed in Palestine, Taybeh beer comes to the UAE
The beer will not offend religious sensibilities in UAE as it is aimed at foreigners and also because it produces a variant that doesn't contain alcohol, says owner Nadim Khoury.Palestinian President urges Arab support against Israeli ‘crimes’
Abbas was addressing the first Arab League summit since the UAE normalized ties with the Jewish state in 2020, sparking a string of similar moves that have divided the region. Without referring to the Israeli election, he said Israel was "systematically destroying the two-state solution and throwing away agreements it...ADNOC Drilling awards $1.6 bn agreement
The award is aimed at upping lower-carbon-intensive production capacity.UAE, US partner to invest $100bn in renewables, clean technologies
The UAE-US Partnership for Accelerating Clean Energy (PACE), aims to produce 100 new gigawatts (GW) of clean energy in the two countries.Dubai starts issuing multiple-entry visa for Qatar World Cup fans
Dubai, UAE— Dubai has begun to give out multiple-entry tourist visa for "Hayya cardholders" traveling to Doha for the World Cup this month. In this regard, Dubai's General Directorate of Residency and Foreigners Affairs (GDRFA) issued the first 90-day multiple-entry tourist visa to Mohammed Jalal, a Jordanian football fan. This...Residential properties in UAE remain key attraction for international real estate investors
Experts attribute the main reasons for the increase in the real estate demand to the UAE government's numerous initiatives and the high income level of investors.Abu Dhabi, Kyrgyzistan’s Bishkek City sign twinning agreement
Abu Dhabi, represented by Abu Dhabi's Department of Municipalities and Transport, and Bishkek City have signed a twinning agreement to strengthen cooperation between the two cities and further enhance relations between the UAE and the Kyrgyz Republic.UAE Minister, IMF Director discuss challenges facing MENA
UAE Minister of State for Financial Affairs Mohamed Hadi Al Hussaini met with Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF) Dr. Jihad Azour.ENEC, Atlantic Council sign three-year nuclear cooperation pact
Abu Dhabi, UAE--- The Emirates Nuclear Energy Corporation (ENEC) has signed a three-year agreement with the Atlantic Council to collaborate on the Council’s Nuclear Energy Policy Initiative and support its efforts in promoting nuclear energy as a central component to the clean energy transition. The Atlantic Council is a US-based...Libya aims to double oil output by 2027: National Oil Company head
Tripoli, Libya---Libya is aiming to nearly double its oil output to two million barrels per day by 2027, the head of its National Oil Company has said. "We're working on raising production to two million barrels per day in the next three to five years," Farhat Bengdara said in an...JAHEZIYA, Enekom ink pact
Pact aims to expand railway solutions, technology in region.UAE-US partnership to spur $100 bn clean-energy financing, development
The Partnership for Accelerating Clean Energy will see the two countries develop, finance and deploy clean projects in the US, UAE and other countries; invest in responsible and resilient supply chains; and promote investment in green mining, production and processing of minerals and materials that are vital to the energy...ADEX signs line-of-credit pact with National Bank of Iraq
The Abu Dhabi Exports Office (ADEX), the export-financing arm of Abu Dhabi Fund for Development (ADFD), has signed a US$10 million (AED36.7 million) line-of-credit agreement with the National Bank of Iraq (NBI), part of the Capital Bank Group.Algeria hosts first Arab summit since Israel normalisation deals
Since the last Arab League summit in 2019, several members of the 22-member bloc -- for decades a forum for strident declarations of support for the Palestinian cause -- have normalised ties with the Jewish state. The United Arab Emirates went first in a historic US-mediated deal that made the...World economy projected to more than double in size by 2045: OPEC
The global primary energy demand is forecast to continue growing in the medium and long-term, increasing by a significant 23% in the next 23 yearsWB expects UAE’s real GDP to grow by 5.9% in 2022
The global financial institution said higher oil receipts supplemented with a gradual non-oil recovery in the Emirates will bolster fiscal revenue.UAE, China eye $200bn bilateral trade by 2030
The UAE is China’s most important trade partner in the Arab world and responsible for 28 per cent of total non-oil trade between China and the region. The region’s second largest economy is also home to thousands of Chinese firms.Saudi Arabia, UAE say global investments required for oil production
Saudi Arabia and the United Arab Emirates said the world needs to keep investing in oil production, just days before the COP27 climate summit aimed at curbing global warming. Sultan Al Jaber, the head of UAE oil giant ADNOC, warned that under-investment could cause a shock to the world economy.UAE, Kyrgyz Presidents review bilateral relations
ABU DHABI, UAE - President Sheikh Mohamed bin Zayed Al Nahyan Monday received President of the Kyrgyz Republic Sadyr Japarov, who is on a working visit to the UAE. During their meeting, which took place at Al Shati Palace, President Sheikh Mohamed welcomed the President of Kyrgyzstan and hoped the...DEWA adds 600MW of clean energy production capacity
DUBAI, UAE - MD and CEO of Dubai Electricity and Water Authority Saeed Mohammed Al Tayer said DEWA had added 300 megawatts of photovoltaic solar energy in 2022 from the fifth phase of the Mohammed bin Rashid Al Maktoum Solar Park using the Independent Power Producer (IPP) model. The Solar...Nedaa, Nokia ink 5G deal in Dubai
5G network will help Nedaa provide better services.Taaleem to raise US$204.21 million in IPO
Dubai school operator plans to expand its network.UAE refunds tax incurred on building, operating mosques
The FTA will begin accepting applications for refunding input tax incurred on building mosques from Nov 1.Upcoming climate events to boost UAE-Egypt ties
The bilateral relations between the two countries are based on mutual respect and appreciation. The significant advancement in the bilateral ties in recent years in several major sectors, notably the economic and trade sectors, has led to a rise in their trade exchange to record levels, she adds.Sheikh Khaled bin Mohamed bin Zayed meets CEOs of INPEX, BP
Energy security, enhancing partnerships were discussed.DEWA commissions 389 11kV substations in Q3 of 2022
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has commissioned 389 11kV substations in Dubai in the third quarter of 2022. This is part of its efforts to deliver state-of-the-art infrastructure according to the highest international standards. These stations are mainly located at Wadi Al Safa Fifth, Al Merkad,...Sharjah Taxi to scale up its fleet of hybrid cars by 65 percent
Sharjah, UAE— Sharjah Taxi intends to increase the number of its hybrid cars running on both fuel and electricity. The decision is in line with the Emirate’s vision to rationalize the use of energy, in accordance with its development goals and agenda. The company had previously completed hybrid vehicle conversions...Business deals enhance GCC-China cultural ties
Strengthening of political, economic and trade relations between China and the Gulf Cooperation Council countries during the past 15 years has also led to a cementing of cultural ties between the two powerhouses.Gulf indices ease as China COVID curbs hit oil prices
Stock markets across the GCC remained less enthusiastic as oil, which fuels the region's growth, declined amidst fresh coronavirus scare.Masdar to partake in Saudi renewable energy market
Masdar will also participate with partners in the upcoming Round 4 tender announced by the Saudi Power Procurement Co.UAE makes amendments to value added tax rules
Abu Dhabi, UAE— The UAE Ministry of Finance announced amendments to some provisions of the Federal Decree-Law No. 8 of 2017 on Value Added Tax (VAT), which will be effective from 1st January, 2023. The amendments were made are in line with international best practice in light of the GCC...Reviewed: Strategies to promote wellbeing in the UAE
She was attending the Government Network Meeting of Happiness and Well-being CEOs, which seeks to align the efforts, initiatives and plans within the National Well-being Agenda to improve the well-being of the UAE community members to achieve the objectives of the National Well-being Strategy 2031.UAE consumers hold the purse strings as soaring inflation affects wages, wealth and purchasing power
Consumers in the Gulf country plan to adjust their lifestyle by reducing their household and miscellaneous expenses over the next three months, a latest survey points out.DFSA signs agreement with Bangladesh SEC
DUBAI, UAE - The Dubai Financial Services Authority (DFSA) has signed a Memorandum of Understanding (MoU) with the Bangladesh Securities and Exchange Commission (BSEC) to enable exchange of information between the two authorities. The MoU was signed by Chief Executive of the DFSA Ian Johnston and Chairman of the BSEC...Amanat Holdings buys 60% stake in HDC for US$58m
HDC provides special education and care services in S Arabia.