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Abu Dhabi real estate market sees 225% surge in FDIs
The Abu Dhabi real estate market attracted 3.28 billion UAE dirhams ($893 million) in foreign direct investments during the first half of 2024, marking a 225 percent increase year on year.
According to the Abu Dhabi Real Estate Center,…
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Egypt achieves milestone by launching carbon trading market
Egypt has launched its voluntary carbon trading market — the first in the country and in Africa.
The market allows companies to issue and trade voluntary carbon certificates in Egypt and Africa, which can be bought by other companies…
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Mawani, Aljeri launch $43m logistics zones in Jeddah and Dammam
Two new logistics zones, spanning 150,000 sq. meters, will be established at Jeddah Islamic Port and King Abdulaziz Port in Dammam with a SR160 million ($42.6 million) investment.
The zones, developed in partnership between the General…
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Saudi Arabia extends waiver on expat fees for industrial sector employees
Saudi Arabia on Tuesday announced an extension of its waiver on fees for expatriate workers in the industrial sector, continuing a policy first introduced in 2019.
This decision, effective until Dec. 31, 2024, is part of the Kingdom’s…
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GCC cities predicted to emerge as top global shopping destinations
Cities in the Gulf Cooperation Council, with Dubai at the forefront, are poised to become top global shopping destinations, according to an industry report.
This transformation is expected to significantly enhance urban gross domestic…
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MENA startup funding soars 206% to $355m in July
Venture capital investments in the Middle East and North Africa reached $355 million in July, marking a 206 percent increase from June and a 260 percent rise year on year, according to recent data.
This growth highlights the region’s…
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IEA maintains 2024 demand growth forecast at 970,000 bpd
The International Energy Agency has kept its global oil demand growth forecast for 2024 unchanged at 970,000 barrels per day, driven by the end of the post-COVID economic rebound in China.
The energy agency, however, trimmed its growth…
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Dubai inflation eases to 3.32% in July, lowest level of 2024
Dubai’s inflation rate eased to 3.32 percent in July, down from 3.85 percent in June, marking the lowest level since the beginning of the year, official figures showed.
This decrease saw Dubai’s Consumer Price Index edge down slightly to…
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Kuwait’s Warba Bank lists $500m sustainable sukuk on Nasdaq Dubai
Nasdaq Dubai has listed $500 million in sustainable trust certificates issued by Kuwait’s Warba Bank, marking a significant advancement in the region’s financial sector.
The issuance, the first of its kind in Kuwait under Warba Bank’s…
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Saudi airport operator Cluster2 achieves new record with 1.73m travelers in July
Cluster2, the Saudi airport operating firm, has set a new passenger milestone by handling 1.73 million travelers in July, marking a 9 percent increase from the previous record set in July 2019.
Managing 22 airports across Saudi Arabia —…
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