Business & Money | Friday 8 December, 2023 8:16 am

Ministry of Housing aims to raise home ownership by 1% annually

Minister of Municipal and Rural Affairs and Housing Majid Al-Hogail said that the ministry is working to increase the home ownership rate by 1% annually since 2020, by adding more than 100,000 residential units every year.   Speaking during the 2024 Budget Forum, the minister...

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Business & Money | Friday 8 December, 2023 8:03 am

Mining sector targets economic goals, not financial: Alkhorayef

Minister of Industry and Mineral Resources Bandar Alkhorayef said the ministry’s goal in the mining sector is an economic and not a financial one, adding that the Kingdom has become one of the world’s key countries in terms of mining sector...

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Business & Money | Friday 8 December, 2023 8:01 am

Vision 2030 propels economic diversification: Alibrahim

Vision 2030 created a fertile and conducive environment, turning economic diversification from a mere plan into a certainty, Faisal Alibrahim, Minister of Economy and Planning, said.   National capabilities have now become a long-term priority, he added, during the dialogue session...

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Business & Money | Wednesday 6 December, 2023 8:12 am

Inaugural World Realty Congress summit to facilitate comprehensive discussions for Dubai real estate growth

The Dubai real estate industry contributed 7.4% to the economy in Q1 2023, supported by the leadership’s directives, as per the Dubai Land Department (DLD). Total real estate transactions increased by 22% y-o-y in 2023, in a sign of good prospects for the next year. At this critical juncture,...

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Business & Money | Sunday 3 December, 2023 2:22 pm

NEOM Investment Fund buys 6% of Italy’s Technogym for $120.8M

NEOM Investment Fund (NIF) announced acquiring a 6% stake in Italy-based leading manufacturer of wellness equipment and services Technogym, after injecting investments worth €111 million ($120.83 million), Reuters reported.   The fund purchased as many as 8.8 million shares at...

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Business & Money | Sunday 3 December, 2023 11:02 am

Chemanol says Energy Ministry approves allocation of required feedstock

Methanol Chemicals Co. (Chemanol) announced the issuance of the Ministry of Energy’s approval, on Nov. 30, to allocate the required feedstock for manufacturing specialty petrochemical products.  The products include methyl diethanolamine, choline chloride dimethyl disulfide...

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Business & Money | Sunday 3 December, 2023 10:47 am

Big 5 Global opens tomorrow in Dubai: Everything to expect on the opening day

The 44th edition of Big 5 Global, the largest and most influential construction event in the Middle East, Africa and South Asia, opens tomorrow on 4 December commencing a four-day run until 7 December at the Dubai World Trade Centre. The event unites the global construction industry under one roof...

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Business & Money | Sunday 3 December, 2023 10:47 am

Big 5 Global opens tomorrow in Dubai: Everything to expect on the opening day

The 44th edition of Big 5 Global, the largest and most influential construction event in the Middle East, Africa and South Asia, opens tomorrow on 4 December commencing a four-day run until 7 December at the Dubai World Trade Centre. The event unites the global construction industry under one roof...

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Business & Money | Saturday 2 December, 2023 7:19 am

ACWA Power kicks off green hydrogen project in Uzbekistan

ACWA Power stated that it launched the first phase of green hydrogen project in Uzbekistan, with a production capacity of 3,000 tons per year.   In a statement, the company added that the project will be developed in two phases. The first phase, a 3,000 ton- green ammonia pilot...

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Business & Money | Saturday 2 December, 2023 6:59 am

DIFC celebrates the ‘Spirit of the Union’ with a host of cultural activities

Dubai International Financial Centre (DIFC) is celebrating the UAE’s 52nd Union Day with the community. In celebration of the nation’s rich traditional heritage, several cultural activities were held, including a lively Ayyala, Lewa and Harbia performances and Henna arts, that...

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