Diamond Developers, the mastermind behind The Sustainable City in Dubai, partners with the Oman Tourism Development Company
Author Archives: Andrew Sambidge
Abu Dhabi office market
Weekend switch, new visa options boost the UAE’s office market in Q4
JLL research says commercial property market displayed signs of recovery in Q4 following several months of muted activity
Dubai economy
Dubai’s Salik road toll system said to hire Moelis & Co for IPO
Sources say the road-toll collection system could add additional banks before the listing
Sheikh Mohammed
UAE Cabinet adopts new regulations to create ‘best business environment’
Dubai ruler Sheikh Mohammed says the UAE’s launch in 2022 ‘will be great’ after chairing first Cabinet meeting of the year
Dubai property market
How Dubai’s Jumeirah Bay Island is proving a magnet to billionaire investors
Luxhabitat Sotheby’s International Realty announces new record AED150m deal for plot on Jumeirah Bay Island
Adel Al Ali
UAE’s Air Arabia seeks operation certificate for new Armenia airline
Details about Fly Arna launch date, fleet and destination network will be announced in due course
Coronavirus Pandemic
UAE reports over 3,000 daily coronavirus cases for the first time in nearly 11 months
Ministry of Health and Prevention announces 3,068 new coronavirus cases, bringing the total number of recorded cases in the UAE to 799,065
Emirates NBD
A year of low visibility for investors
Maurice Gravier, CIO Emirates NBD, on what to look out for in global markets during 2022
covid-19
GCC investments in Europe’s $917bn recovery fund ‘below expectations’ – official
Johannes Hahn, EU Commissioner for Budget and Administration, says keen to attract more Gulf investors for NextGenerationEU programme
Free trade agreements
Indian minister says UAE free trade deal is ‘nearing conclusion’
Piyush Goyal delivers upbeat message while meeting 19 top business and industry associations in India
Abu Dhabi Islamic Bank
Abu Dhabi Islamic Bank raises $160m for new sukuk fund
Fund offers investors an opportunity to invest in a portfolio of regional and international sukuk instruments
Arabian Travel Market
New dates announced for Arabian Travel Market after the UAE’s weekend switch
Major tourism event will now open on May 9 and close on May 12 to fall in line with the new Monday-to-Friday working week
coronavirus UAE
UAE extends remote learning but will not return to lockdown amid rising virus cases
Schools and universities will extend remote learning system for an extra week from January 17-21
Mawani
Saudi Ports Authority plans to award eight terminal concessions
Mawani launches the request for qualification for its priority concessions procurement project
GCC-UK trade deal
How UK firms are increasingly seeking business growth in the Gulf
New research shows UK-based businesses have been expanding their operations across the Middle East as a result of Brexit
Radisson Hotel Group
Hotel major Radisson set to open Riyadh regional HQ amid Saudi expansion plans
Radisson plans to boost its investments in Saudi Arabia to around 50% of its total in the Middle East by 2026
Barka Desalination Company
Oman desalination plant operator set to launch IPO
Barka Desalination Company announces plan to offer 40% of shares through listing on Muscat Stock Exchange
Abu Dhabi economy
Abu Dhabi cuts licence fees for tourism businesses after taking Covid hit
DCT Abu Dhabi says revised fee structure is being introduced, capped at AED1,000 annually
Alstom
French giant Alstom says Qatar tramway project is now operational
With a network length of 28km, this is the largest tramway system project in the Gulf region
disabled
How Dubai is getting tougher on discrimination of the disabled
Fines of up to AED100,000 will be issued in Dubai for violations against people with disabilities
Abu Dhabi Securities Exchange
Abu Dhabi bourse partners with FTSE Russell to develop co-branded indices
Abu Dhabi Securities Exchange CEO says move is part of ADX’s wide-ranging strategy to develop a ‘dynamic exchange’
Arabic language
UAE’s Englease secures $3.4m funding to expand language teaching platform
Education company says it is on a mission to help one million people become proficient in English
ESG
Saudi banking giant first to develop sustainable finance framework
HSBC acts as ESG structuring agent as Saudi National Bank supports kingdom’s net-zero economy ambitions
agribusiness
UAE agtech major Pure Harvest hires senior team to drive GCC growth
Vertical farming firm, which has so far raised total capital in excess of $272m, bolsters leadership and management teams
climate change
2022’s major global issues, according to Expo 2020 Dubai’s World Majlis series
Expo 2020 Dubai has so far hosted 26 World Majlis conversations, featuring 200-plus participants from more than 35 countries
Abu Dhabi
Abu Dhabi awards AED1bn tenders to local firms to boost private sector growth
A total of 322 government tenders were awarded to companies holding In-Country Value certificates in first nine months of 2021
Expo 2020 Dubai
Expo 2020 Dubai set to host Middle East’s first vegan food fest
Taking place every day from January 14 to 30, the food fest promises to bring together the greatest plant-based food the region has to offer
Abu Dhabi Digital Authority
How Abu Dhabi plans to build up its cybersecurity defences
Abu Dhabi Digital Authority, Etisalat and Trend Micro Inc announce the launch of Cyber Eye
apps
Saudi Arabia’s digital regulator drives surge in transport delivery apps
Communications and Information Technology Commission says number of delivery applications has risen by over 460% in just two years
Al Hira Beach
Sharjah teams up with world champion Dakota Schuetz to develop pro skate park
KOTA Skatepark will be part of Sharjah’s $23.6m Al Hira Beach project
Abu Dhabi economy
How Abu Dhabi aims to turn tech innovation into profits
Abu Dhabi’s Advanced Technology Research Council launches VentureOne, a new commercialisation arm
dual licence
Licence to thrill? How Ras Al Khaimah is aiming to attract more investment
Ras Al Khaimah Economic Zone unveils dual licence which allows investors to operate in both free zones and mainland
apartments
Average Dubai property prices jump by nearly 17% in 2021
ValuStrat says villa values on Palm Jumeirah are now just 1.5% away from 2014 peaks
EITC
Federal royalty paid by UAE telcos to remain at same level until 2024
Du says gov’t tax will be maintained at 15% of the company’s revenues plus 30% of profit
DP World
How DP World is helping to unlock Senegal’s economic potential
Dubai-based logistics giant starts construction on $1bn plan to develop the Port of Ndayane
Abu Dhabi Securities Exchange
New chairman named for Abu Dhabi Securities Exchange
ADQ says Hisham Khalid Tawfiq Abdulkhaliq Malak has been appointed as chairman of ADX
Dubai Airport Freezone Authority
Senior execs hired to drive ‘new era’ for Dubai free zones
Sheikh Ahmed announces leadership appointments at free zones and the Dubai Integrated Economic Zones Authority
commodity trading
Dubai trades nearly $150bn in gold, commodities during 2021
Dubai Gold & Commodities Exchange CEO says to launch a number of ‘innovative future contracts’ during 2022
Ajman
Ajman ruler approves largest gov’t budget in history at AED2.4bn
Crown Prince of Ajman says infrastructure, community facilities and the environment account for 39% of the budget
Abdul Aziz Al Ghurair
Dubai Chambers unveils three-year ‘blueprint for a competitive economy’
Chairman Abdul Aziz Al Ghurair says strategy features ‘bolder ambitions that can adapt to future challenges’
Aljada
Sharjah developer Arada posts 38% jump in property sales to $650m
Arada says it sold 2,488 homes in 2021, a 6% increase on the year before
Abu Dhabi Sustainability Week
Abu Dhabi’s Man City, Masdar partner to address climate issues
Premier League champions Manchester City announces a new global partnership with clean energy giant Masdar
Federal Authority for Government Human Resources
UAE says Friday remote working limited to 30% of government workers
Federal Authority for Government Human Resources issues a circular regarding flexible remote working for employees on Fridays
Dubai
Dubai records $81bn real estate deals in 2021, up 71%
Dubai Crown Prince Sheikh Hamdan hails property market investment rebound after pandemic impact
Abu Dhabi Covid-19
Vaccinations, booster jabs to be mandatory for Abu Dhabi gov’t workers from Monday
New rules are approved by the Department of Government Support, in coordination with the Abu Dhabi Emergency, Crisis and Disasters Committee
General Organisation for Social Insurance
Saudi pension fund opens up for first time, says returns hit 14%
Investment arm of Saudi Arabia’s General Organisation for Social Insurance oversees $250 billion in assets
Credit Suisse
Superyacht dispute pits Credit Suisse against Saudi prince
Prince Fahad Bin Sultan, governor of Saudi Arabia’s Tabuk province, is accused of failing to repay bank $78m in interest and loans
Kuwait
OPEC chooses Kuwaiti oil veteran as its next top diplomat
Haitham al-Ghais will become the oil group’s secretary-general in August, succeeding Mohammad Barkindo
Dubai Crown Prince
Dubai Crown Prince Sheikh Hamdan approves $163m housing loans for Emiratis
Financing move is part of long-term plan to encourage Emiratis to build their own homes in Dubai
inflation
2022 forecast: Why UAE companies should prepare for rising inflation
Senior Mashreq exec says inflation is a natural follow-up to any contraction, such as the one caused by the pandemic
Retail
How Spinneys is supporting the UAE’s sustainability charge
Supermarket brand opens its first sustainable concept store in Dubai’s Layan community
Dammam
Uber inks deal to improve Saudi rail travel experience
Saudi Railway Company, in partnership with Uber, has announced the launch of a new service at train stations in several cities
Coronavirus Pandemic
UAE’s daily coronavirus cases rise to highest level since March 8
2,426 new coronavirus cases have been detected in the previous 24 hours, according to the Ministry of Health and Prevention
Dorchester Collection
Dorchester Collection set to make Gulf debut with luxury Dubai hotel
The Lana is a 30-storey tower designed by the award-winning architects Foster + Partners, set to open in late 2022