Author: Victoria Dickinson

Dubai Islamic Bank (DIB) claims good figures for the first half of 2024: the size of total income has increased in per annum terms by 21% and amounted to AED 11. to AED 3 billion ($3. 08 billion) and pre-tax profit up by 18% to AED 3. The range of approximate market capitalization is $900 billion to $720 billion which is equivalent to 1268 billion to 101 billion bln of USD. Net profit for the six months up to June was up 8 percent on the preceding period. 6% rise, reaching AED3. 38 billion ($920 million). The balance…

According to the JLL’s UAE Real Estate Market Overview, the office sector of the UAE was quite remarkable in its performance during the second quarter of 2024. Such a trend is explained by the growing economy, diversified demand, and the search for qualitative and sustainable offices. In Dubai, theTotal area designed for lease (TADL) rose by 20,000 sq. The rise in GLA meant that additional the actual leasing area was enhanced correspondently. m. , which accounts for roughly 9. 26 million sq. m. Thus, the total stock in Abu Dhabi was still recorded as 3. 95 million sq. m to…

UAE Falcons Federation Board of Directors held a meeting in Abu Dhabi today to deliberate and endorse several measures and actions for the 2024 falconry season. Topics that were discussed in the meeting mainly covered how to popularize the practices of falconry and falcon racing to help the sport dimension of the UAE gain more ground. Griatitudes were said to have been extended to His Highness Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai & President of the UAE Falcons Federation in what the host described as tremendous support and passion towards falconry. The growth…

The DLD’s data for the past six months indicate that 256 real estate brokers have been penalized for failure to adhere to ad guidelines. Such fines are measures of the DLD to sustain attempts at managing the sector and ensuring that laws that support the solidity and attraction of the Dubai’s property market are in place. As for Ali Abdullah Al Ali, the Director of Real Estate Control Department at RERA, these operations are considered as a routine work of the Real Estate Control Department aimed at increasing the level of market transparency and non-erosion of the rights of investors…

The largest single-urban master-development in the region specialized in aviation, logistics and real estate consistently continue the first phase of the UAV testing launched together with Evocargo in the UAE territory. The trials, which took place in Dubai South Logistics District, aimed at checking Evocargo’s unmanned electric truck named Evocargo N1 within the selected path and geographical territory that was encased. The tests established features such as the suitability of the Evocargo N1 hardware, software, and service readiness for future use in the Logistics District. The navigational self-sufficiency was a subject of an evaluation so far as the aspects of…

Dr Al Qasimi directed the UoS Chancellor to submit a list to the Chairman of the Sharjah Electricity Water and Gas Authority, SEWA. This list will comprise student’s name who were admitted in the university but did not generate their university ID number before the scholarship registration closed; they would be given an opportunity to compete for scholarships if they meet all the qualifying requirements. The Ruler was clear to state that this directive is solely for students who were recently admitted to US, stressing to the fact that institutional acceptance cannot be instituted for all applicants. Also, he confirmed…

Schengen visa rejection rate for UAE residents was 6 per cent in 2023 and overall 16. 8 million Dirhams (4. 19 million Euros) were wasted in rejected Schengen visa applications. Schengen Visa Info reported on November 30 that the UAE applicants’ rejection rate was 22. 44%, 25% higher than the figure recorded the previous year. The fee for the Schengen visa application was around 320 AED up to June 11, 2024, and other service charges were also escalating depending on the state. Currently, on the 11th of June, 2024, the European Commission increase the fees for Schengen visas of the…

This meeting of the GCC Permanent Legislation Committee was held by the Sultanate of Oman, Ministry of Justice and Legal Affairs. This meeting was held at GCC General Secretariat establishment in Riyadh. The meeting was attended by Oman through the delegation being led by Dr Yahya Nasser Al Khusaibi, the Undersecretary in the Ministry of Justice and Legal Affairs. Other issues on the meeting’s agenda called for reflection on the activity plan of the Permanent Legislation Committee and the results provided by expert committees working on legislation unification for the gulf cooperation council states. People were active in discourses about…

Emirates Foundation has signed a year-long deal with General Motors (GM) Middle East through which the latter is to provide a US$ 200000 grant for increasing support to the foundation’s community development programs across the country. This was done in the recent past through engaging in active and constructive volunteerism such as; GM Middle East joined the other participants in the Ideathon with the Emirates Foundation – reflecting on the Volunteering for Sustainability theme. Special Unified champion schools, the Dawamee Programme, and the more recently launched Ideathon at the COP28 are among the main programmes that will be supported by…

Abdulla Balalaa is UAE’s Assistant Minister of Foreign Affairs for Energy and Sustainability Affairs; he attended the United Nations’ Critical Energy Transition Minerals (CETM) Panel in Copenhagen. It was attended by participants from the governments, organizations, and specialists to focus on the extremely important topic for the world – the critical minerals for renewable energy transition. United Nations Secretary-General António Guterres also chaired the talks. Presided over by Secretary-General Antonio Guterres, in the UAE at COP28, the CETM Panel whose key area of concern are the transitional energy minerals. The body gives members an opportunity to express themselves regarding several…