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Month: September 2023

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Hotel and Residential Projects in the MENA Region Surpass a Combined Value of $1.9 Trillion
September 25, 2023September 19, 2024by In Economy

Hotel and Residential Projects in the MENA Region Surpass a Combined Value of $1.9 Trillion

Hotel and Residential Projects in the MENA Region Surpass a Combined Value of $1.9 Trillion 

 The value of hospitality and residential projects under development in the MENA region has crossed $1.9tn, with Saudi Arabia, the UAE, and Egypt accounting for 90 percent ($1.7tn) of the investments, according to a report by real estate consultancy firm Knight Frank. The latest data from Knight Frank shows that hospitality projects worth $1.2tn are under development in Saudi Arabia, the UAE accounts for $300bn, and Egypt $200bn.

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World Champion Rashed wins again to crown brilliant season
September 25, 2023September 19, 2024by In Sport

World Champion Rashed wins again to crown brilliant season

Team Abu Dhabi’s Rashed Al Qemzi recorded another emphatic victory in the Grand Prix of Portugal today to round off his fourth triumphant season in the UIM F2 World Championship.

The Emirati driver was in complete control on the Tegus River circuit at Vila Velha de Ródão as he led from start to finish from pole position to cruise home by 4.8 secs from Portugal’s Duarte Benavente,

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RTA automates issuance of Supplementary information signs permits
September 24, 2023September 19, 2024by In Living in UAEUAE

RTA automates issuance of Supplementary information signs permits

The Roads and Transport Authority (RTA) of Dubai has implemented an automated system for issuing permits for supplementary information signs. These permits can now be accessed on the RTA's official website (www.rta.ae). This initiative is part of the RTA's ongoing efforts to digitally transform its services, with the aim of providing convenient and intelligent solutions that are accessible to customers at all times and from any location.

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In the largest study of its kind.11 prostate cancer genes were discovered for the first time
September 24, 2023September 19, 2024by In Living in UAE

In the largest study of its kind.11 prostate cancer genes were discovered for the first time

Scientists have made a significant breakthrough in the field of prostate cancer research, uncovering nearly twelve genes that are strongly linked to aggressive forms of the disease. This groundbreaking study, the largest of its kind, has shed light on the prevalence of prostate cancer among American men, with approximately one in eight individuals being affected by this condition at some point in their lives. Prostate cancer is currently the second most commonly diagnosed cancer among men, trailing only behind skin cancer.

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Saudi Arabia’s economy joins trillion-dollar club: Report
September 24, 2023September 19, 2024by In Economy

Saudi Arabia’s economy joins trillion-dollar club: Report

Saudi Arabia’s gross domestic product (GDP) has exceeded the ceiling of SAR 4.155 trillion ($1 trillion) for the first time, with the Kingdom joining the trillion-dollar club and achieving the national goal well ahead of the target date of 2025, according to a new report issued by the Federation of Saudi Chambers on the Kingdom’s 93rd National Day.

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50 Seminars At Sustainability Platform Of ADIHEX 2023
September 24, 2023September 19, 2024by In LifestyleUAE

50 Seminars At Sustainability Platform Of ADIHEX 2023

The sustainability platform at the Abu Dhabi International Hunting and Equestrian Exhibition (ADIHEX) 2023 provides an optimal venue for official authorities, local and international companies, social institutions, and community groups to convene with researchers, experts, and students. This platform facilitates the exchange of knowledge, cooperation, and the formation of significant partnerships to achieve sustainability goals.

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ADIB Successfully Completes Redemption Of Its $750 Million US Dollar Denominated Tier-One Perpetual Sukuk Issued In 2018
September 24, 2023September 19, 2024by In Economy

ADIB Successfully Completes Redemption Of Its $750 Million US Dollar Denominated Tier-One Perpetual Sukuk Issued In 2018

Abu Dhabi Islamic Bank (ADIB), a prominent financial institution, has announced the successful completion of the planned redemption of its USD 750 million additional tier-one (AT1) perpetual sukuk on the first call date, September 20, 2023.

These sukuk were initially issued on September 20, 2018, with a profit rate of 7.125 percent. They have now been fully redeemed at the trustee call amount, which is equal to the prevailing face amount of the certificates plus any outstanding payments as of September 20, 2023. Following the redemption, the trading of the certificates on the regulated market of the Irish Stock Exchange has been cancelled.