Business & Money | Thursday 28 November, 2024 4:44 pm

RIBA strengthens Gulf presence and partnerships

As part of its work to promote architectural excellence and grow its global membership, the Royal Institute of British Architects (RIBA) has been taking steps to strengthen its presence and strategic partnerships in the Gulf. This work coincides with the 15th anniversary of the RIBA Gulf...

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Business & Money | Wednesday 18 December, 2024 10:20 am

FTA launches world’s first tax refund system for e-commerce retail purchases for tourists

The Federal Tax Authority (FTA) announced the launch of a new VAT refund system for E-Commerce Retail Purchases for tourists during their stay in the UAE, which is considered the world's first of its kind. In a press release issued today, the FTA explained that the launch of this new system,...

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Business & Money | Wednesday 18 December, 2024 10:17 am

Minister of Climate Change and Environment attends ICBA's 25th Jubilee celebration

Dr. Amna bint Abdullah Al Dahak, Minister of Climate Change and Environment, attended the 25th Jubilee celebration of International Center for Biosaline Agriculture (ICBA) at its headquarters in Dubai. The event welcomed other high-profile dignitaries, including global sustainability leaders,...

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Business & Money | Wednesday 18 December, 2024 10:14 am

Sharjah Chamber enhances industrial cooperation, strategic partnership with its Indian counterpart

The Sharjah Chamber of Commerce and Industry (SCCI) has discussed ways to expand collaboration in the industrial sector with the Federation of Indian Chambers of Commerce and Industry (FICCI), as part of its ongoing efforts to foster economic partnerships with high-potential markets. The...

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Business & Money | Wednesday 18 December, 2024 9:53 am

Air Arabia adds Sochi to its growing network in Russia

Air Arabia has announced the launch of its new route between Sharjah and Sochi in Russia. The new non-stop flights will connect Sharjah International Airport to Sochi International Airport with a frequency of three flights per week starting from 27th June 2025. Adel Al Ali, Group Chief...

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Business & Money | Wednesday 18 December, 2024 9:45 am

DEWA generates 45.14 TWh of power in nine months

Dubai Electricity and Water Authority (DEWA) generated 45.14 terawatt hours (TWh) of power during the first 3 quarters of 2024, an increase of 5.49% over the same period in the previous year. This reflects the significant development and economic growth of the Emirate of Dubai, and DEWA’s...

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Business & Money | Wednesday 18 December, 2024 9:42 am

UAE-China Investment Summit explores pathways to economic growth

The UAE-China Investment Summit, hosted by HSBC in collaboration with Abu Dhabi Global Market (ADGM) during Abu Dhabi Finance Week (ADFW), concluded with a resounding call to strengthen economic ties and foster strategic partnerships between the UAE and China. Celebrating 40 years of economic...

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Business & Money | Wednesday 18 December, 2024 9:37 am

Gross banks’ assets exceed AED4.4 trillion by end of September: CBUAE

The Central Bank of the UAE (CBUAE) revealed that Gross banks’ assets, including bankers’ acceptances, increased by 0.5% from AED4,378.0 billion at the end of August 2024 to AED4,401.7 billion at the end of September 2024. In its Monetary & Banking Developments Report for September...

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Business & Money | Wednesday 18 December, 2024 9:34 am

Saudi Arabia spends over SAR 500M on mineral exploration: Deputy Minister

Saudi Arabia is currently spending more than SAR 500 million on mineral exploration, compared to less than SAR 25 million in 2018, with an eye for 50% more year-on-year (YoY) in 2024, said Deputy Minister of Industry and Mineral Resources Khalid Al-Mudaifer. “Spending on exploration...

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Business & Money | Wednesday 18 December, 2024 9:32 am

Red Sea signs SAR 392M credit facility with Riyad Bank

Red Sea International Co. (RSI) signed a Shariah-compliant credit facility agreement with Riyad Bank for SAR 392 million, according to a statement to Tadawul. The facilities aim to issue bank guarantees for the project signed with Webuild SpA to build an employee camp. The guarantees...

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Business & Money | Wednesday 18 December, 2024 9:29 am

Parking demand seen to reach SAR 3B in next 3 years: Batic CEO

Mohammed Al-Zamil, CEO of Batic Investments and Logistics Co., said preliminary studies show that the expected demand for parking services in Saudi Arabia over the next three years would range between SAR 2.5 to SAR 3 billion. The tourism and entertainment sector is experiencing significant...

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