UAE’s Tawazun Council sets up freezone for military, security sector
Tawazun Council, the defense and security acquisitions authority for the UAE Armed Forces and Abu Dhabi Police, has established a free zone dedicated to the military and security sector in Tawazun Industrial Park. The free zone covers 2.8 square kilometers and has been established to commence operations related to defense and security industries and associated […]
Dubai DIFC’s 2022 revenue tops $272mln for first time
Dubai International Financial Centre (DIFC) added new companies to its register and grew revenue to over 1 billion dirhams ($272 million) for the first time. The number of active companies in the financial freezone is now 4,377, up 20% year-on-year, a Dubai Media Office statement said on Monday. In 2022, DIFC’s combined revenue grew 18% […]
Abu Dhabi Chamber, India’s FICCI explore new areas of collaboration
M.A Yusuff Ali, Second Vice Chairman of the Abu Dhabi Chamber of Commerce and Industry (ADCCI), reaffirmed the solid relations between the UAE and India, saying, “The UAE and India share a long history of solid relations, which laid the ground for signing the Comprehensive Economic Partnership Agreement (CEPA) last year. One of […]
4-bedroom luxury penthouse at Dubai’s Palm Jumeirah leased in one of most expensive deals ever
Luxury properties in Dubai are in high demand, a fact made evident with the latest leased deal for a residential property at Palm Jumeirah. A four-bedroom penthouse at the iconic man-made island secured a whopping Dh1.7 million rental deal for a year, as the tenant does not want to miss out on the Omniyat […]
DEWA CEO inaugurates Saur’s new international headquarters in Dubai
Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA), inaugurated Saur’s first office in Dubai, a move that symbolises the Group’s ambition to power ahead with its international expansion and make its expertise available to facilitate the water transition for all Middle Eastern countries. The opening ceremony was attended […]
ADFD, UNIDO discuss joint efforts to drive sustainable development
Mohamed Saif Al Suwaidi, Director-General of Abu Dhabi Fund for Development and Chairman of the Exports Executive Committee of the Abu Dhabi Exports Office (ADEX), has met Gerd Müller, Director-General of the United Nations Industrial Development Organisation (UNIDO), to discuss their joint efforts in driving industrial and economic growth in developing nations. During Müller’s […]
Arada completes over 1,600 new homes in East Village in Sharjah
Arada has announced the completion of the first homes in East Village, the third residential phase in its AED24 billion Sharjah megaproject Aljada. In total, 1,621 apartments have been finished across 14 buildings. Featuring 2,000 units in total, East Village is targeted at the younger generation and consists of 16 apartment blocks that […]
Mashreq’s 2022 net profit climbs to $1bln as customer deposits rise
Mashreq, a leading Dubai-based lender, on Monday reported a remarkable jump in 2022 net profit to Dh3.7 billion as operating profit surged 39. per cent to Dh4.4 billion year-on-year. The bank reported a 12.1 per cent increase in customer deposits to Dh 113.8 billion as its liquid assets ratio stood at 33.2 per cent […]
Sharjah Shopping Promotions ends with over $54mln sales
The Sharjah Shopping Promotions, organized by the Sharjah Chamber of Commerce and Industry (SCCI), has ended on a high note, with sales soaring beyond AED200 ($54.4 million) million, a 30% increase from previous records. The city-wide event culminated on Sunday at Sahara Center with a celebratory ceremony where Mohammad Qasim Hassouni from Iraq became the […]
Vertiv inaugurates new factory in Ras Al Khaimah
Vertiv, a global provider of critical digital infrastructure and continuity solutions, has espanded its factory in Ras Al Khaimah, to support its integrated modular solutions (IMS), low voltage switchgear and busway businesses. The latest addition will help the company proactively address the increasing demand for Vertiv products and services. This new facility will be strategic […]