President highlights country’s continuing commitment to protecting the planet President Sheikh Khalifa celebrated the UAE’s “pioneering efforts” to safeguard its natural resources for future generations on the 25th National Environment Day on Friday. Sheikh Khalifa spoke of the country’s determination to promote sustainability and address the challenges of climate change as part of an ambitious green agenda. He reflected on 50 years of achievements and said all of society — from government departments to individuals alike — must continue to support the eco-friendly vision. “The National Environment Day, which we celebrate for the 25th year, …

Sheikh Khalifa sets out UAE’s green vision on National Environment Day Leggi tutto »

It has been named as one of the most beautiful museums in the world by the National Geographic Dubai’s iconic Museum of the Future will open on February 22, 2022. The announcement was made by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, who took to social media to share some stunning images of the upcoming landmark. Calling it the “most beautiful building on earth”, Sheikh Mohammed reiterated that 2022 would, God willing, be an exceptional year for the United Arab Emirates. Located on …

Dubai: Sheikh Mohammed announces opening date for Museum of the Future Leggi tutto »

Abu Dhabi National Oil Company says interim results indicate between 1.5–2 trillion standard cubic feet of raw gas in place Abu Dhabi National Oil Company (ADNOC) announced on Thursday the discovery of natural gas resources offshore of the emirate. Interim results from the first exploration well in Abu Dhabi’s Offshore Block 2 Exploration Concession operated by Eni, indicate between 1.5–2 trillion standard cubic feet (TSCF) of raw gas in place. This discovery marks the first from Abu Dhabi’s offshore exploration concessions. A consortium led by Eni and PTT Exploration and Production Public Company Limited (PTTEP) …

Abu Dhabi announces major offshore discovery of natural gas Leggi tutto »

ABU DHABI — Abdullah bin Touq Al Marri, Minister of Economy, has announced that the first edition of the Emirates Investment Summit ‘Investopia’ will take place on 28th March 2022, featuring the attendance of more than 50 leaders and change-makers from around the world. It will witness the participation of 300 government officials, investors and the private sector experts and academics. The summit will host the largest global business incubators and accelerators, to launch 100 innovative ideas and new business opportunities in the world, the region and the UAE. Speaking at the press conference, Bin …

Investopia investment summit to link economy of present to future, with UAE leading the way: Economy Minister Leggi tutto »

The UK, France and the US are among top source countries for FDI Dubai attracted Dh15.9 billion ($4.3bn) in foreign direct investment from 378 projects in the first nine months of 2021 as the emirate’s economy continued to recover from the coronavirus pandemic. “Dubai has continued to introduce and implement initiatives that improve business confidence,” Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and Chairman of the emirate’s Executive Council said. “Global investors have placed their faith in Dubai’s business ecosystem, making it among the most attractive FDI locations in the world. Initiatives such as full foreign ownership, …

Dubai attracts $4.3bn in foreign direct investment in first nine months of 2021 Leggi tutto »

Government-led initiatives in healthcare, digital transformation and sustainability are cementing Dubai’s reputation as a global destination for entrepreneurship and investment, the managing director of Dubai Science Park said Coronavirus has raised global awareness on the value of a dynamic healthcare sector and the role of technology in realising that with the UAE, and Dubai, being no exception. The city’s biomedical and pharmaceutical companies played a vital role in the UAE’s response to the pandemic and continue to do so today with Dubai Science Park’s managing director, Marwan Abdulaziz Janahi telling Arabian Business that Dubai’s pharmaceutical …

Dubai’s pharmaceutical industry to grow from $2.6bn to $6.8bn by 2025 Leggi tutto »

The region has specific advantages that can accelerate the energy transition The global energy transition is an opportunity for the UAE to transform and diversify its economy, Dr. Sultan Al Jaber, the country’s Minister of Industry and Advanced Technology and Special Envoy for Climate Change said Tuesday, state news agency WAM reported. Dr. Al Jaber was speaking during a virtual panel session titled ‘Projecting COP Ambitions across COP27 and COP28 and Economic Diversification Priorities Post-pandemic’ at the Abu Dhabi Sustainability Week (ADSW). “This region has specific advantages that can accelerate the energy transition from our position …

Energy transition is opportunity to transform, diversify UAE economy: Sultan Al Jaber Leggi tutto »

The emirate topped both the Most Popular list and Best Destination for City Lovers in this year’s travel awards Dubai has been named the Most Popular Destination of 2022 in Tripadvisor’s Travellers’ Choice Awards. The emirate topped the list thanks to its blend of “modern culture with history, adventure with world-class shopping and entertainment”. “Catch a show at the Dubai Opera, see downtown from atop the Burj Khalifa and spend an afternoon along Dubai Creek exploring the gold, textile and spice souqs,” Tripadvisor says. “If you’re looking for thrills, you can float above the desert dunes in a …

Dubai named most popular travel destination of 2022 by Tripadvisor Leggi tutto »

The 27th edition of the largest F&B sourcing event will witness the launch of several industry first initiatives that will empower youth and SMEs in the region In its 27th edition, the world’s largest annual F&B sourcing event Gulfood 2022 will run from 13 – 17 February, addressing the key trends disrupting the international food industry agenda. Taking place at the Dubai World Trade Centre (DWTC), the event will highlight the UAE’s status at the forefront of sector change and leading role in tackling global issues with the launch of Gulfood Zero Waste, a global campaign …

Gulfood 2022 to lead global food agenda, addressing key trends disrupting F&B Leggi tutto »

Solar park is in line with Dubai’s strategy to provide 100 percent of the emirate’s power from clean energy sources by 2050 In line with Dubai’s sustainability-driven strategies to provide 100 percent of the emirate’s power from clean energy sources by 2050, the Mohammed bin Rashid Al Maktoum Solar Park continues its progress with Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA) announcing on Monday that the production capacity of the first project of the park’s fifth phase has increased from 300 megawatts to 330mw. With that, the 900mw fifth phase, …

Mohammed bin Rashid Al Maktoum solar park increases production capacity as Abu Dhabi Sustainability Week Summit kicks off Leggi tutto »

Improved efficiency, lower provisions and higher margins to reflect in profits Dubai: As the UAE economy makes a consistent recovery from the impact of the COVID-19 pandemic, the country has emerged as an attractive destination for foreign capital inflows, according to the Institute of International Finance (IIF). According to the latest estimates and forecasts from the IIF, the UAE attracted $46.4 billion in foreign capital inflows in 2021 with foreign direct investment (FDI) accounting for nearly half of that at $21.8 billion, ahead of Saudi Arabia’s at $19.5 billion. While portfolio investment flows into the …

UAE banks to report robust results for full year 2021 Leggi tutto »

Dubai ruler Sheikh Mohammed says the UAE’s launch in 2022 ‘will be great’ after chairing first Cabinet meeting of the year The UAE Cabinet on Friday adopted executive regulations to guarantee the rights of workers as the country seeks to create the “best, most flexible and diversified business environment”. In a series of tweets, Sheikh Mohammed bin Rashid, Prime Minister and Ruler of Dubai shared details of the first meeting of the Council of Ministers at Expo 2020’s UAE pavilion. “Our start is promising and our launch in 2022 will be great, God willing,” he …

UAE Cabinet adopts new regulations to create ‘best business environment’ Leggi tutto »

2021 saw a 74.77 percent rise in sales transaction volume and an increase of 110.19 percent in value compared to 2020, latest data by Property Finder indicates Dubai’s real estate market broke a 12-year record in 2021, with the value of industry sales transactions reaching AED151.07billion ($41.1bn), according to the latest data by Property Finder. The past year saw a 74.77 percent rise in sales transaction volume and an increase of 110.19 percent in value compared to 2020, as well as an increase of 55.47 percent and 90.10 percent in volume and value compared to …

Dubai property market breaks 12-year record in 2021, value of sales transactions peaks at $41.1bn Leggi tutto »

The emirate is continuously striving to become one of the preferred destinations for all tourists, says Dubai Economy and Tourism chief Dubai’s tourism sector is “back on track” as the emirate continues to implement high standards of hygiene, health and safety measures throughout the Covid-19 pandemic, and the emirate is well positioned to adapt to the future of travel in the post-Covid era, the chief executive of Dubai Economy and Tourism said. The emirate hosted six million visitors in the 11 months from January to November 2021, sold 9.4 million room nights for domestic tourists alone and reopened 736 hotel establishments …

Tourism in Dubai ‘back on track’, with emirate well placed to overcome challenges Leggi tutto »

Chairman Abdul Aziz Al Ghurair says strategy features ‘bolder ambitions that can adapt to future challenges’ The board of directors of Dubai Chambers has approved the organisation’s strategy for the next three years to 2024. The strategy is based on four main pillars – improving the business environment in Dubai, attracting foreign investments and international companies to the emirate, supporting member companies with global expansion and growing Dubai’s digital economy. The priorities, listed under the newly-adopted strategy, were announced during the board’s first official meeting in 2022, which was chaired by Abdul Aziz Al Ghurair. …

Dubai Chambers unveils three-year ‘blueprint for a competitive economy’ Leggi tutto »

Dubai Crown Prince Sheikh Hamdan hails property market investment rebound after pandemic impact Dubai’s real estate market recorded 84,772 transactions worth AED300 billion ($81 billion) in 2021, according to a new report issued by the Dubai Land Department (DLD). Supported by the government’s economic stimulus packages and the emirate’s hosting of Expo 2020 Dubai, the sector continued to draw investors from around the world. The report revealed a 65 percent growth in the number of transactions and a 71 percent increase in value compared to 2020. A total of 52,415 investors concluded 72,207 new investments …

Dubai records $81bn real estate deals in 2021, up 71% Leggi tutto »

The list includes Abrahamic Family House, Museum of the Future, as well as two designed by the firm set up by British-Iraqi architect Zaha Hadid The year ahead will mark the completion of several architecturally notable projects around the Gulf. From two buildings designed by the firm of the late British-Iraqi architect Zaha Hadid to Dubai’s Museum of the Future, here are seven long-anticipated projects that are slated to wrap up in 2022. Abrahamic Family House The Abrahamic Family House is one of the landmark projects set to be completed sometime this year. The project was unveiled in 2019 after …

Seven stunning architectural projects to open in the Gulf in 2022 Leggi tutto »

Dubai International Chamber is supporting ongoing efforts to boost the emirate’s trade to Dhs2 trillion over the next five years The Covid-19 pandemic profoundly changed and redefined the way we live and conduct our businesses. The path of economic recovery has been one of resilience, hope and foresight and has reminded us that the journey we face today, as nations, can only be solved by shared, coordinated and equitable responses – and that these challenges go beyond the pandemic, from environmental concerns to ensuring long-term sustainable growth. It has also taught us that a prosperous …

Power Letters 2022: Hamad Buamim, president and CEO, Dubai Chamber Leggi tutto »

Budget includes expenditure of AED59.95bn for 2022, and the new budget will boost Dubai’s efforts to stimulate the macro economy Dubai’s AED181 billion ($49bn) budget for fiscal years 2022-2024 was approved on Sunday by ruler Sheikh Mohammed bin Rashid Al Maktoum, Dubai’s deputy ruler said in a tweet. The budget includes expenditure of AED59.95bn for 2022, and the new budget will boost Dubai’s efforts to stimulate the macro economy, the tweet said. The government allocated 42 percent of total expenditure for this year towards infrastructure and transportation sectors, while 30 percent was set aside for …

Dubai ruler approves 3-year budget, with focus on infrastructure, transportation in 2022 Leggi tutto »

New manufacturing facility will aim to strengthen regional supply chains, which have been thrown into disarray by the Covid-19 pandemic Abu Dhabi’s Mubadala investment fund and UAE-based AI and cloud computing company G42 have inked a deal to establish a biopharmaceutical manufacturing campus in the UAE capital, state media WAM reported. The new manufacturing facility will aim to strengthen regional supply chains, which have been thrown into disarray by the Covid-19 pandemic. “Global supply shortages and the limited amount of advanced manufacturing activity within the region has resulted in biopharmaceuticals becoming a high growth market …

Abu Dhabi’s Mubadala and G42 ink deal for biopharmaceutical campus Leggi tutto »

Mohammed Bin Rashid Space Centre says that it has completed the critical design review of MBZ-SAT The Mohammed Bin Rashid Space Centre (MBRSC) on Tuesday announced that it has completed the critical design review of MBZ-SAT, the most advanced satellite in the region in the field of high-resolution imagery. The Dubai-based team will now begin preparations to develop and manufacture the flight model of MBZ-SAT which is scheduled to launch in 2023. The critical design review (CDR) is the final multi-disciplined technical review to ensure that the satellite can proceed into fabrication, demonstration, and test …

Dubai’s MBRSC set to start building ‘most advanced’ satellite Leggi tutto »

Dubai Chamber says tourism and retail sectors are set to drive sustained economic growth next year Dubai’s economy is expected to see sustained economic growth in 2022, boosted by the UAE’s change to a Monday to Friday working week, according to new analysis from Dubai Chamber. The research pointed to a “positive and robust recovery” for the UAE economy over the next five years supported by an uptick in business activity in the tourism and retail sectors In 2022, the UAE economy is projected to record an estimated annual GDP growth rate of 3.4 percent …

Dubai economy set to see ‘robust recovery’ in 2022 on back of new working week Leggi tutto »

Jeddah Central Project is expected to add $12.5bn to the kingdom’s economy by 2030 Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud has launched the master plan and revealed details of the SR75 billion Jeddah Central Project, previously known as New Jeddah Downtown. The ambitious project will be built on 5.7 million square metres of land overlooking the Red Sea and will be financed by the Public Investment Fund alongside local and international investors, according to the Saudi Press Agency. The launch of the master plan comes as part of the Crown Prince’s …

Saudi Crown Prince unveils $20bn plan to transform Jeddah Leggi tutto »

District 2020’s Scale2Dubai programme will support international startups and small businesses looking to move to a new market Equipped with academic institutes, hospitals and state-of-the-art building managements systems, the District 2020 project will build on the legacy of Expo 2020 by becoming a residential and business hub for UAE residents. Nadimeh Mehra, the legacy project’s vice-president, spoke to Khaleej Times about a programme called Scale2Dubai that helps international companies move to a new market. The programme offers many benefits, including a free workspace, visa for two years, and help for setting up startups and small businesses, ultimately …

Free workspace, 2-year visa: Project to help Expo 2020 Dubai site become business district after mega event Leggi tutto »

Dubai is the world’s Leading Business Destination while Abu Dhabi tops the rankings for sports tourism, and the Maldives reigns supreme as the World’s Leading Destination he UAE has won a whopping 63 titles at the World Travel Awards 2021. Unveiled on Thursday, the 28th annual awards follow a year-long search for the world’s top travel, tourism and hospitality brands. Votes for the awards are cast by travel industry professionals and the public, with the nominee gaining the most votes in a category named as the winner. Dubai topped the leaderboard for the UAE, picking up several …

UAE wins 63 World Travel Awards 2021: Emirates, Etihad, Atlantis and Armani among winners Leggi tutto »