United Arab Emirates

Abu Dhabi’s residential rental contracts surge 102 percent to 49,135 in H1 2024

Al Ain City also saw substantial growth, with a 77 percent rise in rental contracts reaching 4,819 in 2024

GCC markets account for 53.9 percent of Dubai Chamber of Commerce exports, re-exports at $21.4 billion in H1 2024

Non-GCC countries in the Middle East region ranked 2nd, accounting for 23.9 percent of exports and re-exports

ADNOC Drilling, Alpha Dhabi JV to fully acquire EV Holdings for $45 million

EV Holdings is Enersol’s third acquisition and comes following the company's agreement to acquire 51 percent of NTS Amega (NTS) last week

UAE gold prices rise, global rates up on growing U.S. recession concerns

U.S. unemployment rate rose to 4.3 percent, signaling a possible weakness in the labor market

Dubai TECOM Group’s net profit rises to $164.17 million, revenue surges 9 percent to $299.48 million

The Group's top-line growth contributed to a 9 percent YoY surge in EBITDA, which reached $243.94 million

Dubai’s DEWA sees over 6.7 million digital transactions in H1 2024, up 11 percent

Customers carried out over 1.1 million digital transactions through the authority's website

Abu Dhabi Customs’ digital transactions rise 27 percent in H1 2024

Authority reduced the time of customs clearance transactions to 13.86 minutes from 15.47 minutes during H1 of 2023.

UAE gross bank assets surge over 10.8 percent to $1.16 trillion in May 2024

Gross credit grew 0.7 percent from AED2.063 trillion in April 2024 to $565.47 billion

Masdar, TotalEnergies to develop sustainable aviation fuel project in Abu Dhabi

Agreement follows the successful test flight at COP28 that demonstrated the potential for converting methanol to SAF

Dubai Airports enhances travel experience with new baggage facility at Terminal 2

New facility seamlessly and securely connects publicly accessible areas with the terminal's secured areas

UAE gold prices up, global rates set for weekly gains on Fed rate cut prospects

Traders priced in a 28.5 percent chance of a larger 50-basis-point rate cut in September

UAE Central Bank, Dubai Courts to link electronic services, improve efficiency

Agreement facilitates the implementation of the UAE's zero government bureaucracy program

OZON Pharmaceuticals to develop $80 million manufacturing facility at Dubai Industrial City

Facility to have a production capacity of more than 300 million tablets annually in phase 1

UAE’s Alpha Dhabi Holding reports $1.82 billion net profit, $7.97 billion revenue in H1 2024

Net profit from operations also surged to $1.38 billion, marking a 92 percent year-on-year increase

Sharjah’s real estate market soars to $4.95 billion with 10,809 transactions in H1 2024

Seven new real estate projects launched in the emirate, including residential complexes and towers.

GCC, Indonesia initiate talks for comprehensive deal to boost trade and investment

The proposed agreement aims to enhance cooperation, streamline investment regulations, and create new jobs

Dubai Financial Market sees spike in new investor accounts, up 85 percent to 56,345

The growth is due to strong investor interest in recent high-profile listings like Parkin and Spinneys

Dubai bets on AI-driven data centres to unlock $3.89 billion in economic growth by 2028

Digital Dubai outlines measures to realize vision for AI-enabled data center sector

VFS Global launches Japan visa services for UAE residents

Japan visa application centres operational in Abu Dhabi and Dubai from August 1, 2024

Dubai’s taxi sector hits 55.7 million journeys, serving 96.9 million passengers in H1 2024

E-bookings accounted for 40 percent of the total number of taxi journeys in Dubai during the first half of this year

UAE gold prices rally, global rates hit 2-week high as Fed hints at September rate cut

Gold prices rose as support for the safe-haven asset strengthened amid the threat of conflict escalation in the Middle East

e& revenue climbs 6 percent to $7.7 billion in H1 2024

The e& board approved an interim dividend of 41.5 fils per share for the first half of 2024