Industry

Oman’s Salalah Free Zone draws $11.95 billion in investment by June 2024

In H1 2024, the Salalah Free Zone added 13 projects in frankincense, packaging, air conditioning, and textiles

Saudi Arabia to cut export and import customs fees starting October 6

Changes introduced to streamline trade processes and support business operations

Saudi Arabia cancels hotel licensing fees to boost tourism investment 

This change, effective September 4, aims to position the Kingdom as a global tourism leader

UAE’s ADNOC launches inaugural $4 billion notes offering under GMTN Program

The net proceeds from this issuance will be utilized by ADNOC Group for general corporate purposes.

Abu Dhabi set to host AIM Congress 2025 in April

The event will address economic challenges through collaborative investment strategies

Sharjah’s SEWA inks water project deal with Saudi Arabia’s ACWA Power

Project to meet the demand for potable water for 1.4 million people

Saudi Arabia and Türkiye central banks sign MoU to enhance economic cooperation, financial stability 

The central banks will share expertise and resources to address challenges and boost economic development

Softlogic partners with Daikin to advance UAE’s commercial air conditioning industry

The partnership is formed amidst a booming UAE air conditioning market worth over $650 million, driven by real estate growth

UAE, Kuwait strengthen bilateral ties with MoUs on standardization, infrastructure, and cybersecurity

Other notable agreements included collaboration in communications and information technology

TAQA completes acquisition of SWS Holding for $462.84 million

Acquisition expands TAQA’s portfolio and strengthens its capabilities to deliver water treatment solutions

Türkiye’s exports hit $170.8 billion in eight months, 3.9 percent increase year-on-year

Imports fell 8.7 percent to $225.7 billion, narrowing trade deficit by 43.4 percent

UAE to host major global events in September: All you need to know

The DIFC will host the inaugural Dubai AI & Web3 Festival on September 11-12 at Madinat Jumeirah

QatarEnergy to double urea production to 12.4 million tons by 2030

QatarEnergy plans to build a large urea production complex to boost global food and energy security

UAE oil imports to Japan reach 31.07 million barrels in July 2024, 49.1 percent of total

Arab oil made up 97.8 percent of Japan's imports, totaling 61.92 million barrels

Multilateral Industrial Policy Forum to boost Saudi Arabia’s position as leading global industrial center

The forum, to be held in October, will bring together over 3,000 industry leaders

DP World’s Jebel Ali sets new record with 1.4 million TEUs in July 2024

In H1 2024, the port handled 7.3 million TEUs, a 3.9 percent YoY increase

Global air cargo demand up 13.6 percent in July 2024, eighth month of double-digit growth: IATA

Air cargo demand reached record highs year-to-date in July, with robust growth across all regions, says director general

Global video game market expected to reach $257 billion by 2028: Key trends and insights

Over 25 percent of revenue invested in marketing by companies under $1 billion

UAE’s AD Ports climbs to 19th place in 2024 global rankings: Report

The port operator expanded to 33 terminals across 8 countries in 2024

Dubai’s Empower awards design contract for second Jumeirah Village district cooling plant

Company plans to establish six next-generation plants to serve the growing community with a total cooling capacity of 256,000 tons

$15 million solar power plant to be established in Abu Dhabi’s KEZAD facility

This 27,000 square metre project is part of KEZAD's ongoing efforts to develop innovative clean energy environments