“We must take care of this mall, as one takes care of their small child,” Alabbar said
Author Archives: Staff Writer
Armani Residences Burj Khalifa
Dubai real estate: Burj Khalifa sees $2.7bn home sales since launch, deals up 22% last year
Dubai’s Burj Khalifa still attracts massive interest from real estate investors 14 years after it first opened
Dubai
Dubai’s Sheikh Mohammed announces Parkin PJSC for city’s parking operations
The newly formed company will enjoy financial, administrative, and legal autonomy, enabling it to effectively carry out its duties in Dubai
Artificial intelligence
Kerala to host global AI summit
The summit will be organised by the Department of Industry in collaboration with the state’s IT Parks, Kerala Startup Mission, Digital University, and APJ Abdul Kalam Technological University
BRAVE CF
BRAVE CF announces nominees for its ‘KO of the Year’ awards
The MMA company will also be awarding best submission, breakout fighter, fight and fighter of the year in the End of Year awards
AD Ports Group
AD Ports Group announces Noatum’s acquisition of Spain-based APM terminals Castellón
The acquisition is done at an estimated enterprise value of 10 million Euros
Apple
Apple stock downgraded as Barclays warns on cooling iPhone demand
The average analyst price target suggests a return of just 7.5 percent over the next year
BYD
BYD topples Tesla to become world’s top EV maker
In Q4, 2023, BYD outsold Tesla in the battery-only car segment for the first time, selling 526,000 units compared to Tesla’s 484,000 units
Real Estate General Authority
Saudi Arabia announces rent payments must be made with Ejar platform online from January 15
Saudi Arabia’s Real Estate General Authority restricts rent payment to Ejar platform
Dubai
UAE Emiratisation fines; travel trends; KHDA Dubai school ratings – 5 trending stories to read today
Here are five trending stories you missed on Tuesday
Construction
UAE construction and real estate jobs top searches in 2023; trends for Saudi Arabia, Qatar, Oman, Kuwait and Bahrain revealed
UAE jobs in sales, project management business analysis were among the most searched last year, according to recruitment report
insurance
Saudi insurance sector grows to $4bn in Q3 2023
Saudi insurance sector grows by 14.6% to $4bn
Abu Dhabi IHC
Abu Dhabi’s IHC announces formation of $27.2bn 2PointZero holding company
Abu Dhabi-based International Holding Company announces $27.2bn 2PointZero Holding Company
Kuwait
Kuwait halts private pharmacy licences as it sets up psychotropic medication registry
Kuwait has temporarily suspended the issuance of private pharmacy licences
Postal operator
Saudi Arabia introduces new address system for ROSHN real estate developments
Homes in Saudi Arabia will soon have specialised addresses
Sharjah
Sharjah approves record $11.1bn budget spending plan, looks to boost tourism, sustainability and quality of life
Sharjah has approved a budget spending plan of more than $11bn for 2024
Brands
Global luxury market: $1.64tn spend last year; experiences v materials; China boom continues; the rise of Gen Z
Global luxury spending expanded by up to 10 per cent despite economic headwinds
Dubai
Dubai real estate: Arada buys AED600mn plot in Zaabeel
The plot, located in Zaabeel 2, is intended to be the site for a luxurious 50-floor residential tower
dudget
Oman budget 2024: $28.6bn revenue, $30.3bn spending on $60 per barrel oil price forecast
Oman expects deficit of $1.7bn in 2024 as it delivers detailed breakdown of budget for year ahead
Dubai
KHDA school ratings: Every ‘Outstanding’ school in Dubai
As per the KHDA website, here are the 20 ‘Outstanding’ schools in the emirate
Dubai roads
Dubai announces $76m street light project in 40 streets and districts
Dubai’s RTA to light up 40 streets and districts with $76m safety scheme
Emirati
UAE small businesses can face fines if failing to adhere to Emiratisation rules
UAE introduces targets for companies with between 20 and 49 employees to hire Emiratis or face fines
Riyadh Season
Riyadh Season attracts a whopping 12mn visitors in the last 60 days
The event, which began in October 2023, had initially targeted 12 million visitors for the entire duration of the event but reached that goal in the middle of the season
Abu Dhabi
TAQA wins BOOT contract for Juranah water reservoir project in Makkah
TAQA will hold a 35 percent share in the project company and a 50 percent stake in the O&M company.
poultry
Saudi Arabia launches campaign to promote local poultry products consumption
It is expected to raise the self-sufficiency rate of poultry in the country, besides increasing local content and production
mmigration
UK kicks in tougher international student visa norms
The new rules are expected to have a significant impact on Indian students, who constitute a substantial portion of international students in the UK
Saudi Arabia
Saudi Arabia kicks new industry competitiveness programme to promote sustainable production practices
The latest initiative is aimed at companies to improve production costs
Public Investment Fund
Saudi Arabia’s PIF investments zoom in 2023
PIF’s expenditure amounted to a staggering $31.5 billion, compared to the combined total of $123.8 billion spent by all sovereign wealth funds.
Earthquake
Series of earthquakes hit Japan, triggers tsunami waves
The country is still haunted by the memory of a massive 9.0-magnitude undersea quake off northeastern Japan in March 2011, which triggered a tsunami that left around 18,500 people dead or missing
desalination plants
UAE builds six water desalination plans to serve 600,000 people in Gaza
Built in a record time of three weeks, the plants in the Egyptian city of Rafah are part of UAE President Al Nahyan’s humanitarian operation ‘Gallant Knight 3’
Earthquake
Japan struggling to reach survivors after massive New Year’s Day earthquake
The affected area continued to experience numerous aftershocks, with the Japan Meteorological Agency reporting 147 tremors in an 18-hour period following the initial quake
Abu Dhabi
Excel Astra to set up AED20mn fabrication facility in KEZAD
Astra said it sees the creation of around 400 new jobs, and a sales potential of over AED 200 million a year
India
Housing sales in India hit fresh peak in 2023, top 7 cities see 31% yearly growth
The spike in home sales this year comes despite rising property prices and home loan interest rate hikes earlier in the year
H-1B visa
US hikes fees for premium processing of H-1B, other category visas
The fee for premium processing of I-129, which covers non-immigrant workers like those on H-1B and L-1 visas, has gone up by 12% to $2,805
Google
Google welcomes 2024 with ‘Take a Leap’ doodle
Google posted a doodle on New Year’s Eve on Sunday that featured a lot of confetti
Schengen area visa
Romania, Bulgaria to join Schengen zone this year
The two countries joined the EU in 2007 and have been trying to enter Schengen for more than 10 years
Dubai
Dubai real estate rents to climb 20% this year, investors eye returns: analyst
The Dubai real estate sector has seen rental prices soar and experts forecast they could climb further in 2024
Doha
Qatar welcomed 4m visitors in 2023, announces calendar including Asian Cup, Doha Expo, F1, Web Summit and more
Qatar Tourism shares packed events calendar with more than 80 events, conferences, shows and tournaments
Aviation
Flynas record year: 11.1m passengers, 57 new destinations, $8.5bn aircraft order
Saudi Arabia’s flynas sees huge increase in passengers, destinations and planes in fleet during 2023
DFM
Dubai Financial Market records over 57,000 new investors in 2023
Brokerage firms at Dubai Financial Market saw an increase of 32.7m in the number of transactions
Abu Dhabi
Abu Dhabi breaks records with New Year 2024 firework display
Abu Dhabi sets four world records with New Year firework display at Sheikh Zayed Festival
SAMA
Saudi tourism spending reaches record $26.7bn in nine months
Saudi Arabia recorded a record spend by foreign tourists in the first nine months of 2023
Downtown Dubai New Years Eve
Dubai reports 2.3m passenger journeys on public transport on New Year’s Eve
Dubai’s RTA recorded around 2.3m trips on public transport on New Year’s Eve
Egypt
Saudi Arabia launches job skills tests in Egypt after success of India, Pakistan and Sri Lanka schemes
Saudi Arabia announces Professional Verification program in Egypt as it looks to boost skilled workforce
Etihad
Etihad announces new flights to India in 2024
Etihad introduces new flights to Kozhikode and Thiruvananthapuram in India
cepa
UAE eyes further boost after last year’s record $338bn H1 trade performance; CEPA network thriving
UAE has signed CEPA deals with 10 countries as it looks to further boost foreign trade
fireworks
Ras Al Khaimah 2024 fireworks: Record-breaking display welcomes new year
Ras Al Khaimah set world records with 2024 new year firework display in the UAE
Burj Khalifa Fireworks
WATCH: Dubai 2024 New Year’s fireworks Burj Khalifa display
Dubai prepares to welcome in 2024 with spectacular New Year’s Eve firework show
Abu Dhabi
WATCH: Abu Dhabi New Year’s 2024 fireworks; record-breaking display wows at Sheikh Zayed Festival
Abu Dhabi holds record-breaking 40-minute firework display to welcome 2024 at Sheikh Zayed Festival
Dubai
Dubai’s Sheikh Hamdan announces ban on single-use plastics and other products
Dubai will ban certain single-use products, including plastic bags, straws and plates
Abu Dhabi
UAE petrol prices fall in January 2024
UAE petrol prices have been cut heading in to the new year
saudi jobs
Saudi Arabia has more than 3.9m citizens in workforce
Women make up 39.9 per cent of the Saudi labour market, according to GOSI data
Abu Dhabi National Hotels
5 luxury Dubai hotels to change names in major hospitality shake-up; new Marriott and Kempinski hotels opening
Some of Dubai’s best-loved hotels will be rebranded as Kempinski and Marriott properties from January 1
Gold
Saudi Arabia set for gold rush after major discovery found
Saudi Arabia has discovered a potential major gold mining resource after exploration team’s find