Market experts predict a hard summer for the GCC retail industry as rising costs keep shoppers away from malls and stores amid soaring inflation and high cost of fuel.

Two weeks after US President Joe Biden made the visit to the Middle East, Saudi Arabia and the UAE will receive billions of dollars worth missile defense systems from the US to shoot down incoming enemy missiles or aircraft. The kingdom has been attacked by missiles fired by Houthi rebels...

The Central Bank of the UAE (CBUAE) has issued new guidance on Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) for its Licensed Financial Institutions (LFIs) on the risks related to Politically Exposed Persons (PEPs) or those who hold a prominent public position or function.. The guidance will help...

UAE Ministry of Climate Change and Environment and Emirates Development Bank sign a Memorandum of Understanding to finance agricultural SMEs to contribute to the country's sustainable economic development and food security.

The 7th edition of Liwa Ajman Dates and Honey Festival begins Friday at the Emirates Hospitality Centre in Ajman. Showcasing the finest dates produced in the UAE, the festival displays the best types of dates. Organized by Ajman Department of Tourism Development, the festival targets more than 400 participants. It...

The UAE continues to maintain its regional and international leadership as a distinguished travel destination and a preferred country for living and working.

During the meeting, the minister emphasized the UAE's commitment to solidifying its economic and trade partnership with Mongolia to support both countries' developmental agendas as well as their sustainable economic growth.

Krush Brands, a food technology and multi-kitchen food service company, became the first business to join the UAE’s NextGen FDI initiative, the country’s Ministry of Economy announced on Tuesday. The announcement comes three weeks after the launch of the global initiative in collaboration with seven strategic partners and representatives of...

The agreement was broken off due to a market downturn.

The United Arab Emirates has formed a committee that aims to supervise and guide the development of the digital ecosystem in the country. The committee will also enhance readiness, competitiveness, flexibility and digital alignment between projects and digital systems in federal government agencies, an official statement said. The formation of...

UAE’s central bank said Monday that gross banks’ assets, including bankers’ acceptances, rose to AED3.44 trillion ($936 billion) at the end of May 2022, an increase of 2.9 percent over AED3.34 trillion at the end of April 2022. In its report on the Monetary & Banking Developments for May 2022,...

Brokerage companies in Dubai Financial Market added 20,552 new investor accounts in the first seven months of 2022. The market witnessed significant momentum since the announcement of the listing of 10 governmental and semi-governmental companies.

Saudi Arabia's year-on-year economic growth in the second quarter was 11.8 percent compared to the same period last year, according to initial "flash" estimates published by the General Authority for Statistics. The Middle East's largest economy has benefited from a spike in oil prices and has resisted appeals from Western...

Sheikh Hamdan bin Zayed Al Nahyan, Ruler's Representative in Al Dhafra Region and Chairman of the Emirates Falconers’ Club (EFC), has issued directives for the development of the strategy of the Abu Dhabi International Hunting and Equestrian Exhibition (ADIHEX).

Saudi Arabia and the UAE have supplied around 80 percent of Japan's oil demand for the month of June, followed by Qatar and Kuwait with 14 percent each, taking Arab share to 94.7 percent.

Dubai Electricity and Water Authority (DEWA)’s Marafeq Smart Feature has contributed to accelerating issuing of No Objection Certificates (NOCs) for infrastructure and information services.

Credit facilities provided by national banks to the business and industrial sector rose 1.92 percent to US$3.5 billion (AED13.1 billion) in the first four months of 2022.

Dubai’s real estate market recorded 8,897 sales transactions worth US$6.2 billion approx (AED22.75 billion), the highest volume of sales transactions for June in the past nine years, according to Mo’asher, Dubai’s official sales price and rental performance index.

Alpha Dhabi Holding has announced its financial results for the half-year ended June 30. The company reported net profit of US$2.2 billion (approx), up significantly from the corresponding period last year of US$ 453 million.

UAE and Kenya announced their intention to begin talks for a Comprehensive Economic Partnership Agreement (CEPA) between the two countries in Nairobi.

ADNOC Distribution will acquire 50 percent stake in TotalEnergies Egypt.

The profits rose despite 60 percent hike in fuel costs.

Financial sanctions covers banks’ failures to achieve appropriate compliance regarding required due diligence and reporting procedures and standards. All banks operating in the UAE were allowed ample time by the CBUAE to implement the CRS.

The United Arab Emirates has launched the Power-to-Liquids (PtL) Roadmap: Fueling the Aviation Energy Transition in the United Arab Emirates, which was drafted in cooperation between the Ministry of Energy and Infrastructure and the World Economic Forum. The PtL roadmap shows the financial, economic and environmental benefits of PtL in...

The UAE foreign minister Sheikh Abdullah bin Zayed Al Nahyan in a phone call to his Turkish counterpart Mevlüt Çavuşoğlu described the agreement as a ''key step.''

While Saudi apex bank has raised its repurchase rate by 75 bps to 3%, and its reverse repo rate by a similar margin to 2.50% to restore price stability and fight inflation. The central banks in the UAE, Qatar and Bahrain also raised their rates to 2.4%, 3% and 3.25%,...

A delegation from the Philippine Business Council, headed by Prof. Gau Raganit, visited the Abu Dhabi Chamber of Commerce and Industry to cement cooperation between the Chamber and Filipino investors in Abu Dhabi.

The profit saw an increase of 3 percent over H1 2021.

The Telecommunications & Digital Government Regulatory Authority (TDRA) said that over 10 million people visited the Official Portal of the UAE Government (U.AE) during the first half of 2022, an increase of 26% against the same period last year.

Abu Dhabi Securities Exchange has recorded its highest rise in terms of market value and trading value at end of the second quarter of 2022, according to the Arab Monetary Fund.

A global survey conducted among 2,100 IT Security Decision Makers (ITSDMs) reveals that 60 percent of respondents believe their organizations overall security strategy does not keep pace with the threat landscape.

They will collaborate on key oil and gas projects.

Prime Minister of Egypt Mostafa Kamal Madbouly witnessed a signing ceremony Monday in Cairo that welcomed Bahrain as the fourth country to join the Industrial Partnership for Sustainable Economic Development, which includes the UAE, Jordan and Egypt.

The Abu Dhabi International Boat Show (ADIBS), organized by the Abu Dhabi National Exhibitions Company (ADNEC), has entered into a three-year sponsorship agreement with Abu Dhabi Maritime to support the event’s upcoming editions.

A survey in the GCC region reveals that almost all the respondents believe that rising inflation will impact their cost of living by at least 10 percent while over two-thirds said they still view equity markets favorably.

The 6th edition of Al Dhaid Date Festival came to a successful conclusion at Expo Al Dhaid, after four days of heritage activities and strong competitions among exhibitors.

An increasing number of strategic agreements are being signed with the regional players as Europe, US seek to diversify sources of energy supply, says an expert at IRIS

The Higher Committee for Development and Citizens Affairs, chaired by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, approved immediate allocation of 2,000 residential plots at Umm Nahad Fourth area.

Dubai Electricity and Water Authority (DEWA) has commissioned 287 11kV substations in Dubai in the first half of 2022. This is part of its efforts to provide a state-of-the-art infrastructure as per the best international standards.

The Permanent Committee for Labor Affairs has reiterated its commitment to collaborate with private and social organizations to consolidate the UAE’s and Dubai’s drive to implement progressive labor policies that integrate global best practices.

The region has invested billions of dollars across sectors in the South Asian nation as recent past witnessed an expansion in economic and trade relations between the two sides.

Abu Dhabi's real estate market sustained growth driven by investor optimism, recording 7,474 property transactions amounting to over US$6.13 billion (approx) as per the latest report released by the Department of Municipalities and Transport (DMT).

The French Ambassador to the UAE, Xavier Chatel, described the first official visit to France of UAE President Sheikh Mohamed bin Zayed Al Nahyan as successful and important in all domains.

Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister has issued a decree regulating the grant of title to allotted industrial and commercial land in Dubai

The Federal Tax Authority expanded its efforts in collaboration with various government departments, ministries and authorities to protect consumers from non-compliant products, combat tax evasion and ensure compliance with tax laws and procedures.

The developer sold homes valued at $405m in Sharjah.

The Dubai Health Authority recently signed a Memorandum of Understanding (MoU) with Visa with the aim of enhancing Dubai's competitiveness as an ideal destination for health tourism.

The Emirates Nuclear Energy Corporation has successfully completed the Hot Functional Testing on Unit Four, the last of its four units of the Barakah Nuclear Energy Plant

Emirati exports to South Korea increased by 34 percent in 2021 compared to 2021, reaching $679 million.

Noura bint Mohammed Al Kaabi, UAE’s Minister of Culture and Youth, discussed cultural cooperation with Rima Abdul Malak, Minister of Culture of France on Wednesday. The meeting between the two was held at the ministry’s headquarters in Paris on the sidelines of UAE’s President Sheikh Mohammed bin Zayed Al Nahyan...