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 exceptional...

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 of...

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 parties...

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 vehicle...

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 from...

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 of...

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 UAE...

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 2,572...

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 percent...

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 due...

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 US$2.8...

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...

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 mediation...

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 joining—a...

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

Abu Dhabi, UAE - Abu Dhabi Airports, the operator of Abu Dhabi's five commercial airports, has announced the appointment of Elena Sorlini as its Managing Director and Chief Executive Officer. Sorlini transitions into the role permanently after serving in an interim capacity since June 2023.Since joining Abu Dhabi Airports, Sorlini...

"Numerous opportunities exist in sustainable investments, especially in sectors like building systems, renewable energy, water, food and agriculture, shipping, among others. Additionally, there's a noticeable increase in financing for sustainable investments from high-net-worth individuals, family businesses, and institutional funds globally," she adds.

Houthi military spokesperson Yahya Sarea said last week that the movement's armed forces had targeted an American merchant ship named KOI with "several appropriate naval missiles". The ship, he said, had been heading to "the ports of occupied Palestine", a phrase which is sometimes used to mean Israel.

The company's revenue for the year 2023 stood at US$16.33bn.

Amman, Jordan-- The UAE and Jordan have explored opportunities for collaboration in the fields of economy, investment, food security, renewable energy and sustainability in a meeting between the UAE President Sheikh Mohamed bin Zayed and Jordan's King Abdullah in Amman.The meeting between the two leaders, which took place at Basman...

Moscow, Russia -- China, India, Iran, the United Arab Emirates (UAE) and Saudi Arabia will become prior countries for Russia in development of inbound tourism in 2024, according to the concept for promoting Russia’s tourism potential on foreign markets presented by Director General of the Center for Strategic Research Pavel...

Five listings, mainly in the energy and logistics sectors, contributed 58 percent towards the total IPO proceeds raised, said the EY MENA IPO Eye Q4 2023 report. During Q4 2023, 19 IPOs raised $4.9 billion in proceeds. ADES Holding Company raised the most funds.

DUBAI, UAE - The total M&A market dropped 15 percent, to US$3.2 trillion, the lowest level in a decade, as dealmakers grappling with high interest rates, regulatory scrutiny and mixed macroeconomic signals had to be more selective about which deals to pursue in 2023.But the biggest obstacle was the gap...

The UAE's top diplomat reiterated the UAE's steadfast support for UNRWA, emphasizing that in light of current challenges, sustaining its humanitarian efforts has become an urgent priority. "This requires collective efforts from the international community to support the agency and all UN efforts to provide relief to the Palestinian people,"...

DUBAI, UAE - The Roads and Transport Authority (RTA) of the Emirate has entered into a strategic partnership with ‘Shamal Holding,’ to undertake the construction of a two-lane bridge in each direction spanning 1500 meters.The bridge extends from Sheikh Zayed Road to Dubai Harbor, an exceptional seafront district that hosts...

The pact deals with bulk and general cargo terminal.

ABU DHABI, UAE – As per the directives of President Sheikh Mohamed bin Zayed Al Nahyan, Minister of Foreign Affairs Sheikh Abdullah bin Zayed Al Nahyan announced that the UAE has allocated US$5 million to support the efforts of the United Nations Senior Humanitarian and Reconstruction Coordinator for Gaza.Sheikh Abdullah...

The GCC -- with countries such as Saudi Arabia, the UAE, Kuwait, and Qatar -- plays an important role in the energy transition, Dr. Atul Arya of S&P's Global tells TRENDS.

Dubai, UAE – The United Arab Emirates is the most popular country for international talent seeking employment visas, a report reveals.  The global HR platform,Deel, has released findings from its Annual Global Hiring Report and revealed UAE attracts a large number of international talent.This marks a significant milestone for the...

ABU DHABI, UAE  - The Ministry of Investment of the UAE and the Ministry of Digital Governance of the Hellenic Republic have signed a Memorandum of Understanding (MoU) to create a framework for investments in digital infrastructure with a focus on data center projects in Greece.The agreement was signed by...