News During the first half of 2024, Awqaf Dubai achieved a record high occupancy rate of 99.6% for its properties. The Endowments and Minors’ Trust Foundation (Awqaf Dubai) achieved its highest-ever occupancy rate of 99.6 percent during the first half of 2024. Even more impressive, the Foundation added 1,887 new units to its portfolio over the past five years. By the end of the first half (H1) of
News UAE's AI Office and Samsung partner to bring Samsung Innovation Campus to UAE AI Camp 2024. The UAE’s Artificial Intelligence, Digital Economy, and Remote Work Applications Office and Samsung Gulf Electronics have announced a partnership to integrate Samsung's Innovation Campus (SIC) into the UAE AI Camp 2024. This collaboration aims to promote AI learning among the UAE's youth in line with
News ADNOC's listed companies reported a combined revenue of AED 89 billion in the first half of 2024. ADNOC Group’s listed portfolio companies have reported strong financial results for the second quarter and first half of 2024. The six companies reported a combined revenue of AED 89 billion, AED 28.4 billion of earnings before interest, taxes, depreciation and amortization (EBITDA), and a net profit of more
News Kuwait is mourning the loss of Sheikh Salem Al-Ali Al-Sabah. The Emiri Diwan of the State of Kuwait announced on Monday the passing of Sheikh Salem Al-Ali Al-Sabah, Chief of the Kuwaiti National Guard. He passed away at the age of 98 after many years of dedicated service to his country. According to a statement released today and reported by
News DWTC's Hospitality Division experiences exceptional growth in H1 2024 due to external events. Dubai World Trade Centre (DWTC) has reported impressive results for its Hospitality business in the first half of 2024. The division has established itself as a leading provider for external events and on-site catering services, along with its well-known reputation for catering at DWTC venues. There has been a significant
News The UAE economy is experiencing strong growth in real estate, tourism, and manufacturing, according to OPEC. The Organization of the Petroleum Exporting Countries (OPEC) reported that the UAE's economy is experiencing strong growth, particularly in non-oil sectors such as real estate, tourism, and manufacturing. According to OPEC's Monthly Oil Market Report (MOMR) for August 2024, there was a slight increase in housing,
News The ILO is concerned about the number of unemployed youth despite the falling unemployment rate. The latest report from the International Labour Organization (ILO) indicates an improvement in the global labor market outlook for young people over the past four years. This positive trend is anticipated to continue for an additional two years. However, the report, titled Global Employment Trends for Youth 2024 (GET for
GUIDE "Successful Tips for Off-Plan Property Investment" Off-plan property sales have become popular in today's real estate sector as an attractive option for investors seeking financial growth. This strategy involves purchasing a property directly from the developer before its construction is completed, often at a discounted rate compared to fully developed properties in the same
GUIDE Top Family-Friendly Apartments for Sale in Dubai In the bustling city of Dubai, finding the perfect family home is an exciting journey. There are numerous family-friendly apartments for sale, each offering luxury, comfort, and a sense of community. Families exploring Dubai will find a variety of options in different neighborhoods, inviting them to experience modern living at
News The FTA has approved AED2.45 billion in home-construction tax refunds for UAE nationals. The Federal Tax Authority (FTA) has approved a total of 30,920 applications for Value Added Tax (VAT) refunds worth a total of AED 2.54 billion. These applications were submitted by Emirati citizens for taxes incurred on building new residences. This covers the period since the service was launched
News The Youth Council has introduced initiatives to support young entrepreneurs and empower the youth. Emirates Integrated Telecommunications Company (EITC)'s du division has introduced educational programs aimed at promoting technological proficiency and innovation among young people. One of these initiatives is the "Skillpreneurship" program, designed to empower youth by providing a platform for them to utilize their talents for entrepreneurial endeavors
News Kuwait's Warba Bank issues $500 million Sustainability Sukuk, welcomed by Nasdaq Dubai. Nasdaq Dubai is pleased to announce the listing of $500 million Sustainable Trust Certificates issued by Warba Bank, a Kuwaiti Islamic Bank. This marks the fourth listing under their $2 billion trust certificate issuance programme. In a statement released on Monday, Nasdaq Dubai stated, "This is a significant listing
News 15% of all Foreign Direct Investment (FDI) in Dubai comes from DMCC. DMCC, which is the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise, has announced its key performance results for the first half of 2024. The organization has recorded 1,023 new member companies, bringing its total to almost 25,000 companies. DMCC now
News DEWA organizes 'Youth Forum' for International Youth Day 2024. The Dubai Electricity and Water Authority (DEWA) Youth Council organized the "Youth Forum" in conjunction with International Youth Day 2024, observed annually on 12th August. The forum was inaugurated by Saeed Mohammed Al Tayer, MD and CEO of DEWA, and included a series of activities and panel discussions
News The 7th edition of Berklee Abu Dhabi's PEARL Programme will begin in September. The Department of Culture and Tourism - Abu Dhabi (DCT Abu Dhabi) is excited to welcome musicians from the UAE and across the Middle East to the seventh edition of Berklee Abu Dhabi’s Performance Artistry & Leadership (PEARL) Programme, starting on 9th September. Applications are open until 18th August.
News ADJD facilitated financial settlements worth AED443 million in the first half of 2024. The Abu Dhabi Judicial Department (ADJD) resolved a total of 1,234 commercial, real estate, civil, and consumer disputes in the first half of 2024, with settlements amounting to AED 44,039,415. As per the ADJD's Vital Operations Performance Report, 657 commercial disputes were settled, totaling AED
News The insurance company operating in the UAE has been subject to an administrative sanction by CBUAE. The Central Bank of the UAE (CBUAE) has imposed an administrative sanction on an insurance company operating in the UAE, in accordance with Article 33(2)(a) of Federal Decree-Law No. 48 of 2023, which regulates insurance activities. The sanction comes as a result of an examination conducted by the
GUIDE Top Family-Friendly Apartments for Sale in Dubai In the bustling city of Dubai, finding the perfect family home is an exciting adventure. Dubai offers a wide range of family-friendly apartments for sale, each promising luxury, comfort, and a sense of community. As families explore Dubai's diverse neighborhoods, they can discover their ideal homes in some
GUIDE "Real Estate Investing Tips for First-Timers" Investing in real estate in dynamic markets like Dubai can be a great way to build wealth and achieve financial independence. Dubai's cosmopolitan appeal, economic strength, and growth potential make it an attractive opportunity for savvy investors. However, it's important to approach this market with caution
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GUIDE Affordable Luxury: Budget-Friendly Villas in Dubai Dubai, also known as the "jewel of the Middle East", is a city that symbolizes opulence, grandeur, and endless possibilities. It is situated in the midst of a vast desert landscape, overlooking the beautiful waters of the Arabian Gulf. The city has become a global icon of luxurious
News The UAE Government has made changes to the law on Anti-Money Laundering and Combating Financing of Terrorism and Financing of Illegal Organizations. The United Arab Emirates government has issued a Federal Decree-Law amending certain provisions of the Federal Decree-Law on Anti-Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organizations. The purpose of the Decree is to further enhance the legal framework supporting the efforts of the country’s
News Foreign Direct Investment in Saudi Arabia rises to US$215 billion Khalid Al Falih, the Saudi Minister of Investment, highlighted the significant pro-investment measures implemented by Saudi Arabia in recent years. These measures include the introduction of the Civil Transactions Law, Private Sector Participation Law, Companies Law, Bankruptcy Law, and Special Economic Zones. As a result of these reforms, there has
News UNRWA reports over 75,000 Palestinians in Gaza displaced in the last few days. Philippe Lazzarini, the Commissioner of the United Nations Relief and Works Agency for Palestine Refugees (UNRWA), reported today that over 75,000 Palestinians have been displaced in the southwestern region of Gaza in recent days. In a post on X, Lazzarini stated that the mass displacement of the Palestinian people
News "The TRENDS roundtable emphasized the significance of youth empowerment in grooming future leaders." TRENDS Research and Advisory, along with its Youth Council, organized a roundtable titled "From Clicks to Progress: Youth Digital Pathways for Sustainable Development" in celebration of International Youth Day, observed annually on August 12th. The roundtable included two panel discussions addressing four main topics: "Youth Empowerment and
