AD Ports Group has demonstrated robust financial performance in the second quarter of 2023, posting a profit of AED 596.7 million and total revenue of AED 7.08 billion. This performance stands out even in the face of declining cargo volumes within the UAE, largely attributed to disruptions in the Strait of Hormuz. The company’s ability...
Recent reports have indicated that the bilateral trade between Pakistan and the United Arab Emirates (UAE) is not only holding steady but demonstrating remarkable resilience despite various maritime disruptions and ongoing global supply chain challenges. This robust trade relationship has been shaped by the historical ties and strategic alignment between Pakistan and the UAE, with...
The AIM Global Foundation is taking significant steps to bolster investment relations between the UAE and India, particularly in anticipation of the upcoming AIM Congress 2026. This initiative aims to facilitate dynamic discussions and collaborations, reflecting the growing economic interconnectedness between these two nations. The foundation’s efforts come at a time when both countries are...
In a significant move to enhance bilateral relations, the Indian state of Rajasthan has entered into multiple Memoranda of Understanding (MoUs) aimed at boosting the hospitality sector in Saudi Arabia. This initiative reflects Rajasthan’s commitment to expanding its footprint in the global tourism industry, particularly in the Gulf region. The signing of these MoUs was...
The artificial intelligence (AI) market in the retail sector is set to experience unprecedented growth, with projections indicating an increase from $17.98 billion in 2026 to a staggering $190.31 billion by 2034. This represents a remarkable compound annual growth rate (CAGR) of 34.3% throughout the forecast period. Such accelerated growth underscores the transformative potential of...
Global South Utilities (GSU), a company based in Abu Dhabi, has officially opened a significant solar power facility in the Central African Republic with a capacity of 50 megawatts. This marks a pivotal moment in the nation’s development, as it represents the largest infrastructure project in the country’s history, aimed at dramatically enhancing the national...
Recent data from JLL revealed that the revenue per available room (RevPAR) in UAE hotels has decreased by 31.8% year-to-date through June 2026. This decline comes as the hospitality sector faces a slew of challenges, primarily driven by heightened regional tensions and a notable drop in international visitor numbers. The findings underscore the ongoing struggles...
UAE stock markets showed a slight increase as investors closely monitored the impending release of July’s consumer price index (CPI) data from the United States. Both Abu Dhabi and Dubai’s indices reported modest gains, reflecting a sense of cautious optimism in the markets. The anticipation surrounding the US inflation figures stems from their potential impact...
Mubadala Investment Company, the Abu Dhabi-based sovereign wealth fund, has recently augmented its position in Aldar Properties, a prominent real estate developer in the emirate. The fund has increased its ownership by 1%, reflecting a strategic move amidst the booming property market in the region. This decision underscores Mubadala’s commitment to investing in real estate,...
Takaful Emarat, a leading Islamic insurance provider in the UAE, has announced a remarkable 46% increase in its profit for the first half of the year, reaching Dh13.46 million. This substantial growth is attributed to enhanced performance in core operations and the Takaful service offerings, positioning the company favorably in a competitive market. The surge...