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ADQ and Plenary Group have launched Plenary Middle East to focus on regional infrastructure projects. In real estate, Dubai property prices are anticipated to stabilize or decline due to increased supply. Additionally, JPMorgan has upgraded Kuwait to a developed market, while the Saudi Central Bank has introduced close-out netting regulations to enhance financial stability. Dubai Islamic Bank has also unveiled its first sustainability-linked finance framework to support ESG objectives.
Elon Musk has named the "future president" of the US on X, sparking reactions online. Meanwhile, Dubai's financial landscape is thriving, with the Dubai International Financial Centre (DIFC) reporting a 25% increase in registered businesses, now hosting 75 hedge funds. The city is also a magnet for family offices, managing $1.2 trillion in assets, as it becomes a preferred destination for high-net-worth individuals seeking investment opportunities and succession planning.
In January 2025, Japan imported 34 million barrels of Saudi crude oil, making up 41% of its total oil imports of 82.99 million barrels. The Arab nations contributed significantly, with the UAE supplying 35.31 million barrels (42.6%), while imports from the US, Central and South America, and Oceania accounted for the remainder. Japan's energy strategy is influenced by geopolitical factors, including bans on oil imports from Iran and Russia.
The Dubai International Financial Centre has launched Launchpad to support startups, aiming to create over 200 ventures and 8,000 jobs while attracting $544 million in venture capital. Additionally, the 'One Million AI Prompters' initiative seeks to train a million individuals in AI prompt engineering over three years. In the ride-hailing sector, BluSmart has initiated a pilot in Dubai with 100 Audi E-Tron SUVs, set to compete with Careem and Uber. Meanwhile, Deliveroo is enhancing its food delivery service by using traditional abra boats in Dubai Creek, blending innovation with cultural heritage.
SkyDrive, a Japanese flying vehicle manufacturer, has signed a Letter of Intent with Dubai's AeroGulf Services for the purchase of up to 50 eVTOL "SKYDRIVE" vehicles. This partnership aims to enhance air mobility at Dubai's Palm Jumeirah, promoting sustainable transportation and eco-friendly tourism. The collaboration marks SkyDrive's entry into the Middle Eastern market, aligning with Dubai's vision for a greener future.
In December 2024, Saudi Arabia's overall merchandise exports fell by 2.8% to SR94.29 billion, influenced by OPEC-mandated oil production cuts, with oil exports dropping from 74.3% to 68.8% of total goods. Non-oil exports surged 18.1% to SR29.45 billion, driven by a 70% increase in shipments to China, while imports rose 27.1% to SR79.03 billion, leading to a trade balance surplus decrease of 56.1% to SR15.26 billion. The UAE remained the top destination for non-oil goods, despite a 9.9% decline in exports to the region.
IRTH Group and Rove Hotels are transforming Dubai's branded residential sector with the launch of over 1,800 residential units valued at over Dhs3bn in just 18 months. Their Rove Home concept targets young professionals and families, offering modern amenities and a strong community focus, with plans for 3,000 additional residences in the next five years.
The Medical Devices Reimbursement Market is projected to experience significant growth from 2025 to 2032, driven by evolving market dynamics and investment opportunities. The comprehensive report analyzes regional and global trends, competitive landscapes, and key market segments, providing essential insights for industry stakeholders. Major players include BNP Paribas, CVS Health, and UnitedHealth Group, with a focus on strategic maneuvers such as mergers and product innovations.
Arab stock markets experienced steady growth in January, marking a second consecutive month of gains, with the composite index rising by 0.97%. Casablanca's stock exchange led the way with a 9.98% increase, followed by Kuwait and Amman at 5.73% and 5.11%, respectively, driven by strong corporate earnings and supportive monetary policies.While most markets thrived, Egypt, Qatar, Palestine, and Dubai saw modest growth of less than 1%. Notably, the Palestinian market recorded a remarkable 261.4% surge in traded value, contrasting with declines in Dubai, Egypt, and Muscat.
Dubai's FIX chocolate has become a viral sensation, significantly boosting tourist spending, particularly through Deliveroo. Transaction data reveals peaks at 2:00 PM and 5:00 PM, coinciding with the chocolate's limited releases, leading to doubled average spending during these times.International tourists, especially from the U.K., U.S., and Kazakhstan, are driving this trend, with even typically lower-spending visitors from Singapore and South Korea showing increased transactions. This phenomenon underscores the role of unique local products in enhancing tourism and economic activity in Dubai.
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Middle East infrastructure developments and financial market updates this week
16:08 28.02.2025
Dubai emerges as a global hub for family offices and investments
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15:46 28.02.2025
Japan's January oil imports heavily reliant on Saudi and UAE supplies
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11:48 28.02.2025
rethinking urban living through innovative branded residences in dubai
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medical devices reimbursement market poised for significant growth through 2032
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10:54 28.02.2025
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fix chocolate boosts tourist spending in dubai through exclusive sales
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