News

RIYADH / EMIRATES BUSINESS With a clear strategy and vision, Naif Al-Rajhi Investment (NRI) is keen to work in line with the preset objectives of the Council of Economic Affairs and Development, and along with the changes that indicate broad opportunities for growth in the real estate sector. Ramla Real Estate Development Company, owned by Naif Al Rajhi Investment , ...

Bloomberg A soaring real estate market in Vancouver helped push the national average home price in Canada above the half-million dollar mark for first time in February, stoking concern that risks are becoming lopsided. Average resale prices jumped 16 percent in February from a year earlier to C$503,057 ($376,880), the Canadian Real Estate Association said Tuesday from Ottawa, as prices ...

WAM Despite the falling oil price and geopolitical instability, the states of the Gulf Cooperation Council (GCC) remain an attractive investment destination for high net-worth individuals (HNWIs), a report said, adding that 76 per cent prefer to keep their assets close to home. However, there is a clear element of caution lingering amongst investors, according to the 2016 GCC Wealth ...

Emirates Business Shams 1 Concentrated Solar Power (CSP) plant has marked its three successful years of operation. The plant, which occupies 2.5 square kilometres and has a power generating capacity of 100 megawatts, is the first of its kind in the Middle East and North Africa region. Shams 1, which takes its name from the Arabic word for ‘sun’, is ...

Dubai / Emirates Business Dubai Electricity and Water Authority, DEWA, has launched its ‘Shine a light on Climate Action’ campaign, to raise awareness on the dangers of the increasing effects of climate change. The campaign was launched by DEWA in preparation for Earth Hour 2016, and supports the Green Economy for Sustainable Development Initiative, launched by Vice President and Prime ...

Dubai / Emirates Business The Middle East’s leading finance comparison website, compareit4me.com, has launched the region’s first car insurance comparison portal, giving car owners in the UAE a chance to save thousands of dirhams on their insurance. The portal allows users to get instant prices from online leading insurers. Better yet, for the first time in the UAE, users have ...

Emirates Business During the 21st Dubai International Pharmaceuticals and Technologies Conference and Exhibition (DUPHAT), HE Dr. Amin Hussein Al Amiri, Assistant Undersecretary for Public Policy and Licensing of the Ministry of Health & Prevention and Vice Chairman for Supreme National Drug Registration and Pricing Committee, has underscored the UAE’s status as one of the leading global hubs for major international ...

Abu Dhabi / Emirates Business Abu Dhabi Tourism & Culture Authority (TCA Abu Dhabi) has revealed that more than 2,000 entries and 42 portfolios have been shortlisted for the ninth edition of the Emirates Photography Competition, one of the most important professional photography competitions in the world. Winners will be announced at a glittering awards ceremony to be held in ...

Geneva / Emirates Business Global air freight markets in January has shown a good rise in freight tonne kilometers (FTK) of 2.7 percent compared to January 2015. This continues the improving trend witnessed toward the end of 2015, and is the fastest pace since April of last year, said the International Air Transport Association (IATA) in its recently released data. ...

Bloomberg French retailer Casino Guichard-Perrachon SA plans to soon seek second-round bids for its Big C grocery chain in Vietnam, people with knowledge of the matter said. Casino aims to ask for binding offers in the coming weeks, according to the people, who asked not to be identified as the information is private. Japan’s Aeon Co. was among several parties ...