Qatar real estate sector saw $10.3m in residential sales last week
Author Archives: Bhargav Katira
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Capital Markets
Dubai to host MENA Capital Market Summit 2025 in May
MENA Capital Markit Summit 2025 will host financial leaders and policy makers in Dubai
Dubai
Sheikh Hamdan launches MyDubai Communities platform
New MyDubai Communities platform offers access to more than 100 interest-based community groups
Bahrain Mumtalakat Holding
Abu Dhabi’s CYVN completes McLaren acquisition with Bahrain’s Mumtalakat
Abu Dhabi investors complete the acquisition of McLaren
OPEC
OPEC+: Saudi, UAE, Kuwait, Oman and others announce oil production increase
Eight OPEC+ countries, including Saudi, UAE, Kuwait and Oman, have agreed to increase oil production
IATA
Middle East airline traffic up 3.1 per cent in February: IATA
International airline traffic demand was up 2.6 per cent in October
Air Arabia
Air Arabia announces Abu Dhabi to Almaty flights
Air Arabia Abu Dhabi to boost UAE-Kazakhstan connectivity with new Almaty flights
Ajman Free Zone
Dubai Land Department teams up with UAE free zone authority to simplify property ownership
Dubai Land Department and Ajman Free Zones Authority secure freehold ownership agreement
Saudi Tourism
Saudi Arabia’s tourism sector sees record surplus of $13.3bn after $44bn inbound visitor spend
Saudi Arabia’s efforts to attract tourists have seen a record travel surplus of more than $13bn
Cruise
Celestyal launches new cruises for its winter Sun season in the Arabian Gulf
The itineraries mark the cruise line’s return to Egypt after a two-year break
Dubai real estate
Dubai real estate sector sees $38.9bn of sales in Q1; top-performing areas, most expensive properties and average price rise revealed
Dubai real estate sector recorded second-highest quarterly sales performance on record
Ramadan
Ramadan effect fuels Middle East mobile app revenues to cross $1.7bn: Report
Shopping app sessions across the UAE, Saudi Arabia, and Qatar rose by over 20% YoY, reaching 682 million this year
CBUAE
UAE Central Bank revokes licence of Dynamics Insurance Brokers for regulatory breaches
Dynamics Insurance Brokers “failed to comply with the licensing terms and requirements issued by the Central Bank and with the further requirements stipulated in the regulation,” the UAE Central Bank said
equities
Investment managers turn attention to European equities amidst Trump policy-induced heightened market uncertainty
European equities, especially those in government-backed defense and infrastructure sectors, are predicted to offer strong upside potential
Dubai
Dubai’s Jumeirah Bay Island plot sells for $50mn as ultra-luxury market soars
The 25,441 sq. ft. plot sale highlights soaring demand for personalised ultra-luxury real estate in one of Dubai’s most elite locations
Abu Dhabi
AD Ports Group reports record $4.7bn revenue in 2024, profit surges 69%
With revenue up five-fold since 2020, AD Ports credits its global expansion, including Noatum and GFS acquisitions, for record 2024 earnings
Dubai
Dubai real estate: AVENEW, Al Tamayoz partner to develop luxury beachfront project ‘Rena’ on Dubai Islands
The project features elegantly designed apartments, Dubai’s first sea-level townhouses, and a luxurious penthouse
E-commerce
Gen Z drives social commerce boom as spending power set to reach $9tn: Report
TikTok has emerged as a particular favourite among Gen Z, attracting 40 percent of younger shoppers compared to just 4 percent of Baby Boomers
Dubai Metro
RTA transported 6.4m Dubai passengers over Eid Al Fitr
Dubai’s RTA reveals passenger details during Eid Al Fitr 2025 holiday
Ramadan
Sharjah Ramadan Festival 2025 ends with $136m in sales
Sharjah Ramadan Festival reports 25 per cent year-on-year growth
Ambani
Esports in India: Mukesh Ambani’s Reliance Group to partner with BLAST for gaming business
The two will form a joint venture to conduct esports business in India
crypto
Dubai real estate developer and crypto firm team up for blockchain investment portal
Dubai real estate investors will be able to buy tokenised property assets with cryptocurrency
Elon Musk
Tesla sales rout in Europe deepens amid anti-Musk protests
New Tesla sales in France and Sweden dropped for a third consecutive month
higher education
UAE slashes bureaucracy for higher education institutions
The UAE has introduced new licensing rules for higher education institutions
Indian president Ram Nath Kovind
Former Indian president Kovind to be chief guest at IBPC Dubai conclave
Dubai event will host former PM Ram Nath Kovind as IBPC looks to boost India-UAE relations
Entrepreneurs
UAE named best country for entrepreneurs in 2025
UAE tops entrepreneurship rankings as it is bolstered by foreign ownership rules, ease of funding and Government initiatives
autonomous
Dubai self-driving taxis to launch in 2026
RTA targets 25 per cent of all journeys in Dubai to be in autonomous vehicles by 2030
cepa
UAE launches trade deals with Costa Rica and Mauritius
UAE Comprehensive Economic Partnership Agreements with Costa Rica and Mauritius enter into force today
e&
UAE data centre major Khazna welcomes new investors as e& exits
Khazna shareholding shuffling will see e& exit and MGX and Silver Lake join
ADNOC
EU regulators to decide on ADNOC’s Covestro deal by May 12: Report
Abu Dhabi oil major ADNOC struck the deal for its biggest ever acquisition last October
Eid
UAE Eid Al Adha 2025 expected dates
When will Eid Al Adha be in 2025 in the UAE? Plan your holidays now
Hajj
Saudi Arabia opens Hajj registration
Saudi Arabia has opened bookings for 1446 Hajj with priority for first time pilgrims
ChatGPT
OpenAI raises $40bn at valuation of $300bn
The funding news came the same day the Microsoft-backed company announced it was building a more open generative AI model
South Africa
Saudi Arabia’s Jameel Motors enters South Africa as Changan car distributor
Saudi car dealer will launch sales of electric SUV, pickup trucks and sedans in South Africa
Elon Musk
Elon Musk’s SpaceX launches first private astronaut crew in polar orbit
Crypto entrepreneur Chun Wang is bankroller and commander of SpaceX mission
Remittance
India receives over $100bn remittances for three consecutive years
India, Mexico and China lead global remittance inflows
Donald Trump
Donald Trump to visit Saudi Arabia, UAE and Qatar
US President Donald Trump plans to visit Saudi Arabia, UAE and Qatar as early as May
swimming pool
Saudi Arabia issues swimming pool warning
Saudi Arabia calls for safety measures at swimming pools in the Kingdom
Abu Dhabi IHC
Abu Dhabi-based IHC to acquire stake in $10bn Indian snack food major Haldiram
With the backing of Abu Dhabi’s IHC and Alpha Wave Global, Haldirams is said to be set for international expansion
Saudi businesses
Saudi Arabia announces major new commercial laws
Saudi Arabia will introduce commercial and trade name laws this week
smart cities
Transparent metrics to measure economic impacts are critical to unlock smart city potential: Report
The report identified organisational fragmentation, technological integration and workforce readiness as key challenges hindering smart city progress currently
China
China discovers major new oilfield off Shenzhen
Oilfield is around 170 km off the coast of Shenzhen, China, and sits at an average water depth of 100m
Bullion Market
Gold prices cross $3,100 as US tariff uncertainty propel safe-haven flows
Gold prices have hit multiple record highs, gaining more than 18 per cent so far this year
Bahrain's Gulf Air
Gulf Air launches debut flights to London Gatwick Airport
Gatwick will be Gulf Air’s second destination in London, after the Heathrow Airport
Arabian Travel Market
UAE events in April 2025: AIM Congress 2025, Dubai AI Week, Arabian Travel Market and more
Major events in the UAE in April will highlight sectors including investment, tourism and technology
Chocolate
Saudi Arabia imported 123m kilograms of chocolate in 2024
Saudi Arabia is witnessing an increase in activity for sweets and chocolates
Saudi Arabia’s capital markets regulator approves flynas IPO
Saudi Arabia’s flynas is reportedly going ahead with plans to sell a 30 per cent stake in IPO
cepa
UAE has signed 26 deals since launching CEPA scheme amid $1.1tn trade target
UAE Comprehensive Economic Partnership Agreement programme is driving trade and boosting the economy
Dubai Land Department
Dubai real estate sector recorded $4.15bn of transactions last week, including pair of luxury $16.8m Palm Jumeirah apartments
The Dubai real estate sector saw $4.15bn of transactions and 3,531 sales last week
Abu Dhabi
UAE petrol prices to drop sharply in April 2025
UAE petrol prices fell slightly in March following an increase in February