Connect with us

Business

Biggest quarterly gain in GCC markets since global financial crisis

Published

on

Spread the love

The MSCI GCC aggregate index saw a rise of about 18 per cent in the first three months of 2022, thanks to a broad rally across regional GCC markets and higher oil prices. This is the biggest quarterly gain recorded by GCC markets since the second quarter of 2009 during the global financial crisis.

The surge was backed by four consecutive months of gains in the index, Kamco Invest said in a report.

During the quarter, all the regional markets were in the green. Abu Dhabi reported the biggest gain of about 17 per cent. It was followed by Qatar and Saudi Arabia, with gains of around 16 per cent each, the report added.

The biggest gains were recorded by capital goods, materials and banking sectors — at close to 20 per cent. Energy and health care expanded 18 per cent and 15 per cent, respectively.

The only sectors that declined in the first quarter were consumer durables and apparels, and pharma, the report revealed.

In March, the Abu Dhabi Securities Exchange (ADX) was the best-performing market in the GCC, with the exchange’s market capitalisation increasing 4.7 per cent to reach Dh1.81 trillion ($492 billion).

Total volume of shares traded grew 39 per cent to 6.2 billion in March from 4.4 billion in February. Monthly value traded also rose 44 per cent to Dh40.2b last month, the report added.

ADX, the Arab world’s second-largest stock market by market value, also led the GCC in terms of year-to-date gains that reached 17.2 per cent at the end of March after registering record growth during 2021, the report said.

The Dubai Financial Market also gained 5 per cent in March, closing at 3,526.6 points, supported by gains in six out of nine sectoral indices including large-cap sectors such as banks, property and insurance, the report said.

Business

Find cheapest groceries in UAE with new price comparison tool

Published

on

Spread the love

In a move set to make everyday shopping easier, the UAE Ministry of Economy and Tourism has introduced a new digital tool that lets residents compare prices of essential goods across major retailers.

Called the Essential Goods Prices Platform, the initiative is designed to boost transparency and help shoppers find the best deals on daily essentials.

What you can check

The platform covers more than 30 essential items in its first phase, including:

  • Cooking oils, rice, sugar, and bread
  • Eggs, dairy products, meat, poultry, and fish
  • Fresh fruits and vegetables

It gives users a clear snapshot of price ranges across supermarkets, making it easier to spot where your money goes further.

How it works

  • Prices are updated daily from major retailers
  • Users can compare minimum and maximum prices
  • Track differences between stores and locations
  • Build a custom shopping basket to find the cheapest option

It’s essentially like having a real-time price comparison tool before you even step into a store.

With the cost of living always a concern, this platform puts more control directly in the hands of consumers.

It helps:

  • Save money on weekly groceries
  • Promote fair competition among retailers
  • Prevent unjustified price increases

By making pricing more transparent, the UAE is aiming to protect consumer spending while keeping the retail market balanced.

This launch builds on ongoing efforts by the UAE Ministry of Economy and Tourism to monitor essential goods and ensure price stability.

Now, instead of that data staying behind the scenes, it’s being shared openly, giving residents the power to make smarter, more informed shopping decisions.


Continue Reading

Business

Dubai launches ‘Work from Park’ at Al Barsha, a new way to work in nature

Published

on

Spread the love

In a city known for constantly reimagining urban life, Dubai Municipality has introduced a concept that could change how people think about both work and leisure.

Called the ‘Work from Park’ initiative, the idea is simple but powerful: turn public parks into flexible workspaces where productivity meets nature.

The first location is set to open in May 2026 at Al Barsha Pond Park, a popular green escape that will soon double as an open-air office for freelancers, entrepreneurs, and remote workers.

From green spaces to productive places

Instead of traditional office setups, the initiative brings thoughtfully designed modular workspaces into parks. These will include hot desks, meeting areas, and even creative studios, allowing people to work, collaborate, and create while surrounded by greenery.

The project is being developed in partnership with Group AMANA, which will build sustainable, modular units, and Letswork, which will operate and manage bookings through its platform.

Users can expect access to a variety of work environments, including podcast studios and content-creation spaces, making it especially appealing to creators and small businesses.

A vision aligned with Dubai’s future

The Work from Park initiative supports long-term strategies like the Dubai Urban Plan 2040 and the Dubai 2040 Parks and Greenery Strategy, which aim to enhance quality of life by making cities greener, healthier, and more adaptable to modern lifestyles.

Beyond desks and Wi-Fi, the initiative will also host educational sessions, collaborative workshops, and networking events. The goal is to build a vibrant community where ideas grow as naturally as the surrounding greenery.

With more locations planned across Dubai, public parks are set to evolve into multifunctional hubs that blend work, wellness, and social life.

Continue Reading

Business

Dubai’s Burj Al Arab is getting a facelift: Inside the iconic hotel’s first major renovation

Published

on

Spread the love

The world’s most famous ‘seven-star’ hotel is officially getting some work done. For the first time since its doors swung open in 1999, the Burj Al Arab is undergoing a massive restoration. Don’t worry, though, the sail-shaped structure isn’t going anywhere. Jumeirah Group is just making sure this Dubai luxury property stays looking fresh for the next generation.

What’s the plan

This isn’t just a quick coat of paint. We’re talking about an 18-month phased restoration led by the renowned designer, Tristan Auer. If the name sounds familiar, it’s because he’s the mastermind behind the stunning Hotel de Crillon in Paris and a protege of the legendary Philippe Starck.

The hotel will, however, be running during the renovation process, which also includes modernising the interiors. 

Why is Burj famous

The Burj Al Arab is more than just a place to sleep, rest and enjoy the luxury comforts, it’s basically the face of Dubai. Here’s a quick refresher on why this building is iconic:

  • The height: It towers at 321 meters on its own private island.
  • The bling: The interiors are packed with marble, gold leaf, and Swarovski crystals.
  • The icon status: From helipad tennis matches with Roger Federer to its massive 450kg crystal chandelier, it put Dubai on the luxury map 27 years ago.

Preserving the icon

As Dubai grows, the city is shifting its focus toward preserving its modern icons. By giving the Burj Al Arab a thoughtful facelift now, they’re ensuring that the ‘Sail of Dubai’ remains the ultimate symbol of global luxury without losing the original character that made it famous in the first place.

According to the Jumeirah Group, the renovation is aimed at preserving one of the emirate’s most famous symbols for future generations.

Continue Reading

Popular

© Copyright 2025 HEADLINE. All rights reserved

https://headline.ae/