Sakani Program is one of the largest housing initiatives in the world, providing 1.5 million housing units by 2025 and making a significant impact on Saudi Arabia’s housing shortage.
KPMG has been hit with a hefty fine of $231 million due to their inadequate audit of the collapsed private equity firm Abraaj.
The new partnership between Al Hilal Bank and BLME is expected to provide significant benefits to UAE residents and UK-based financial institutions alike.
Dubai Landlords have been quick to capitalize on the short stay rental trend, offering their properties through platforms like Airbnb and Booking.com and charging up to 30% more than usual during peak times like Eid.
M42, a joint venture between Mubadala and G42, is a major development in the global technology landscape.
The Indian rupee has recently been weakening against the UAE dirham, driven by a range of factors such as a strengthening US dollar, decreasing demand for exports, and concerns over domestic inflation.
Gold prices is often seen as an indicator of the overall health of the global economy. Recently, the COVID-19 pandemic has caused uncertainty and volatility in financial markets, leading to a surge in demand for gold and driving up its price.
The UAE has been taking various steps to mitigate the impact of inflation and increase its economic growth. The country is focusing on diversifying its economy away from oil, investing in infrastructure projects, and promoting entrepreneurship and innovation.
The UAE is gearing up for a busy Eid Al Fitr season in 2023, with reports suggesting that hotels occupancy rates could reach up to 90% and room rates could be as high as four times their regular price.
The Public Investment Fund (PIF) of Saudi Arabia has recently received 49% of the shares of Aramco oil, in line with the country’s Vision 2030 plan to diversify its economy and reduce dependence on oil.