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UAE witnesses largest rainfall in 75 years

UAE witnesses largest rainfall in 75 years

In a historic weather event, the UAE witnessed its heaviest rainfall on record in the past 24 hours. Surpassing anything documented since the start of data collection in 1949, the downpour impacted numerous regions across the country.

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In UAE, China’s Geely is putting its weight behind hybrids

In UAE, China’s Geely is putting its weight behind hybrids

“It’s closer to 14 per cent, I think, based on the data that’s available with us carmakers and local dealerships,” said Alex Gu, General Manager, Geely Auto Middle East. “There are still a few Chinese carmakers that do not share their sales numbers, but what we can see is that taken together we now have a double-digit share of the UAE market. It’s the same in Saudi Arabia.
“What makes it interesting is that this shift from 1 per cent share to 14 per cent in the UAE happened quite rapidly, much of which in the last 2-3 years.”

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UAE participates in 2024 Spring Meetings of IMF and WBG

UAE participates in 2024 Spring Meetings of IMF and WBG

The United Arab Emirates, represented by the Ministry of Finance, announced its participation in the 2024 Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) taking place in Washington D.C., from 15th to 20th April 2024.

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Supreme Council of Energy launches Dubai Demand Side Management Recognition Programme

Supreme Council of Energy launches Dubai Demand Side Management Recognition Programme

The Dubai Supreme Council of Energy has launched the Dubai Demand Side Management Recognition Programme, a unique platform to recognise and honour the exemplary efforts of organisations and individuals who contribute to enhancing the future of Dubai through responsible practices in energy and water efficiency, circular economy, innovation, and exceptional contributions that promote a sustainable environment. Each category represents a pivotal aspect of Dubai’s journey towards reducing energy use, from innovative green building initiatives to pioneering innovations in efficient cooling and more.

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Olayan and Lunate acquire stakes in ICD Brookfield Place

Olayan and Lunate acquire stakes in ICD Brookfield Place

Investment Corporation of Dubai (ICD) and Brookfield Corporation (Brookfield) today announced an agreement with Olayan Financing Company and Lunate for the sale of a 49 percent stake in ICD Brookfield Place (ICDBP), a world-class commercial and retail property located in the Dubai International Financial Centre (DIFC).