economy

stc secures $8.7 billion contract with government entity for telecom infrastructure services

The contract lasts 18 months for execution, followed by 15 years of operation

Oil prices climb 0.2 percent to $77.21 after steep losses amid Trump concerns, demand uncertainty

DeepSeek questions the need for data center investments, suggesting fewer centers may lower energy demand

Saudi Arabia permits foreign investment in Makkah, Madinah real estate

The ownership of natural and legal persons jointly who do not hold Saudi nationality shall not exceed 49 percent of the company's shares

Saudi Arabia Crown Prince, Italy Prime Minister ink agreement to establish Saudi-Italian Strategic Partnership Council

Saudi-Italian high-level roundtable resulted in the signing of 26 memoranda of understanding across key industries

Etihad Credit Insurance hosts workshop for selected Xport Xponential initiative companies

H.E. Raja Al Mazrouei emphasized the initiative's role in boosting UAE exports and empowering local manufacturers

Fed to hold interest rates steady as Trump calls for lowering borrowing costs

The market is pricing in the possibility that the U.S. central bank will lower borrowing costs twice by the end of this year

Abu Dhabi real estate: 125 percent surge in FDI as transactions hit $26.19 billion in 2024

The sector recorded 16,735 sales transactions valued at AED58.5 billion last year

ADGM launches all-in-one mobile app to boost connectivity across financial district

The app offers residents and visitors access to lifestyle features, cultural activities, and exclusive services

$10.7 billion travel technology market drives 25 percent growth at ATM 2025, kicking off April 28

The global travel technology market will grow at a 6.05 percent CAGR from 2025 to 2033

UAE digital VAT refund system achieves 34,900 applications, $789.5 million in refunds

In 2024, UAE nationals received 7,520 VAT refund applications for new residences, totaling $191.8 million

RAKEZ welcomes over 13,000 new companies in 2024, marking impressive 66 percent growth

With this achievement, RAKEZ is now home to nearly 30,000 multinational companies