The new toll gates will be located at Business Bay Crossing and Al Safa South on Dubai’s Sheikh Zayed Road, and will be operational from November 24, 2024
Author Archives: Staff Writer
Alef Education
Alef Education revenues reach $150mn for 9M 2024
Adjusted Net Profit before tax rises to $103.2 million; Adjusted EBITDA rises by 6% to reach $107.5 million
Amaala
Red Sea Global announces $1.5bn AMAALA infrastructure funding
Red Sea Global announces major funding to build solar power plant in AMAALA, Saudi Arabia
UAE visa
US begins fast-track entry for UAE citizens
UAE citizens can now fast and simple entry into the US with streamlined visa services
amnesty fines
UAE visa amnesty extended to December 31
UAE gives visa violators a further 2 months to rectify their status
Dubai private schools
Dubai British Schools: Taaleem buys land and assets in Jumeirah Islands to expand education portfolio
Taaleem Holdings to take over location of Amity Early Learning Centre in Jumeirah Islands under Dubai British School brand
Commercial Properties in Saudi Arabia
Saudi commercial property market thrives as office investment interest hits 6-year high
Saudi Arabia has one of the strongest commercial property markets in the world according to a RICS survey
American University of Sharjah
American University of Sharjah wins Zoom Digital Campus Award
The award presentation took place at the Middle East’s technology exhibition, where Zoom executives presented the honour to AUS Chancellor Dr Tod Laursen, Executive Director of ICT and other members
FDI
Kuwait looks to boost $675m foreign investment inflow
Kuwait is actively looking to increase foreign direct investment inflows into the country
Colm McLoughlin
Dubai Duty Free visionary Colm McLoughlin passes away at 81
Under Colm McLoughlin’s exceptional leadership, Dubai Duty Free grew from $20 million business in 1984 to $2.16 billion in 2023
abu dhabi airport
Abu Dhabi Airports opens US customs facility for speedy check-in with biometric and facial recognition technology
Passengers flying from Abu Dhabi to the US have dedicated facility to complete all US immigration and customs requirements before departure
GaStat
Saudi GDP up 2.8% in Q3
Saudi Arabia releases report on GDP growth between July and September 2024
Dubai
Dubai traffic to ease: RTA completes major road improvements in Oud Metha
The RTA project features new 317-metre deceleration and acceleration lanes at Umm Hurair Street’s entry and exit points
FII
Saudi Arabia’s Riyadh Air secures SAR 3bn Islamic credit facility ahead of 2025 launch
Eight financial institutions have participated in the arrangement
Apple
Apple unveils new MacBook Pro with powerful new M4 chips
Three new models – with M4, M4 Pro and M4 Max – start at $1,599 and can be pre-ordered now; delivery starts November 8
Africa
Emirates boosts Africa network with new flights to Uganda, Ethiopia and South Africa
Emirates to fly 161 flights per week from Dubai to destinations in Africa
Dubai
Dubai Spartan Trifecta weekend tickets now on sale
The Spartan Trifecta weekend in Dubai will feature three races – Sprint, Super, and Beast – with participants able to complete all challenges across two days
DP World
DP World and Egypt to conduct feasibility study for new 500-acre free zone
The study will focus on a free zone covering approximately 500 acres within ACUD’s 1,958-acre land along the Cairo-Ain Sokhna Road
Islamic Finance
UAE’s non-oil sector drives Islamic finance expansion: S&P
The country’s insurance sector, both conventional and Islamic, is projected to expand by 15 to 20 percent, driven by economic performance and infrastructure projects
Abu Dhabi
Abu Dhabi’s Dhabi Hold to host fourth Family Office Summit in December
It will serve as a premier platform for family offices from Abu Dhabi, Dubai, and beyond to network, exchange insights, and champion long-term financial success
Aviation
MBRAH, Liebherr-Aerospace sign agreement for new MRO facility at Dubai South
The facility is expected to be completed by the end of 2025
Abu Dhabi
Modon sells out Maysan Phase 1 on Reem Island within a few hours
The project features 132 stacked maisonettes and 185 townhouses
Dubai
Fundamental Hospitality announces three new Dubai concepts in major global expansion plan
Fundamental Hospitality further aims to operate 100 venues globally, surpassing its initial £140 million investment programme
Binghatti
Dubai’s Binghatti announces AED 5bn skyrise project in Business Bay
Binghatti Skyrise is set to become a new landmark in Dubai’s luxury real estate market
alef group
Sharjah’s Alef Group launches Nama 5 at Al Mamsha Raseel
The project is part of the Nama cluster, which includes six buildings with a total of 1,029 units
gasoline
UAE announces petrol price rise for November 2024
Here is how much it will cost to fuel up your vehicle in November
BYD
Chinese EV-maker BYD’s quarterly revenue races past Tesla for first time
Revenue soars 24% year-on-year to $28.2 billion; Tesla sales were $25.2 billion for the same period but more profitable
Dubai real estate
Dubai real estate: Qube Development launches Arisha Terraces in Studio City as part of $708m portfolio
QUBE Development announces Arisha Terraces in Dubai Studio City
Americana
Americana Restaurants reports $1.61 billion in 9M revenue
Adjusted EBITDA of $350.6 million, with 21.8% EBITDA margin; 113 gross new stores added, taking its total to 2,504 restaurants
abu dhabi airport
Abu Dhabi Airports sees 31% increase in first 9 months of 2024
Abu Dhabi’s aviation sector growth continues with significant boost to passenger traffic so far this year
Sharjah
Sharjah Airports welcome 4.4m passengers in Q3 as traffic up 10%
Sharjah Airports reports increase in flights, passengers and cargo in third quarter
advertisement
KSA social media study reveals why attention is more important than viewing
Dentsu publishes the results of its study involving 750 respondents analysing users’ habits across five social media platforms
King Abdullah Financial District
Riyadh’s KAFD announces monorail project; 3.6km track will have 6 stations
King Abdullah Financial District Development announces Riyadh monorail to integrate with the Metro in Saudi Arabia
Airline
Wizz Air Abu Dhabi announces 20% discount on all flights during winter schedule
Tickets can be booked through wizzair.com and the WIZZ app, with fares starting from AED89
Abu Dhabi
UAE petrol prices to change for November 2024
UAE petrol prices fell last month following an increase the month before and will change again this week
Abu Dhabi real estate
Abu Dhabi real estate to see secondary market boom as 4,000 new villas and townhouses to be delivered
Abu Dhabi real estate sector will see strong growth in secondary sales by the end of this year
Brookfield
Saudi investments: PIF and Brookfield team up for $2bn spending boost
Saudi Arabia’s PIF and Brookfield Asset Management look ahead to $2bn investments in the Kingdom
Dubai
New York architects KPF to design $1.1bn Dubai real estate project The Cliffs
Situated in the desirable Jumeirah area on the south side of the Dubai Water Canal, The Cliffs is expected to leave an enduring mark on Dubai’s skyline
Middle East has $3.9tn construction pipeline, UAE and Saudi lead boom
Construction safety specialist Build Well looks to grow alongside booming Middle East sector
Dubai budget
Dubai approves $75bn budget
Dubai approves $75bn budget cycle for next three years as it looks to
Egypt
Modon Holding and LuLu team up to expand retail presence in the UAE and Egypt
The two will jointly explore high-potential locations for retail development, implement smart retail solutions and advanced logistics infrastructure
Ministry of Finance
UAE introduces new tax law
UAE announces eInvoicing to simplify tax procedures for businesses in the country
acquisition
Abu Dhabi’s CYVN Holdings enters non-binding deal to acquire McLaren’s automotive division
The potential partnership would also see the Abu Dhabi investment firm acquiring a non-controlling stake in McLaren Group
AMWAJ Development
Dubai real estate: AMWAJ Development unveils second residential project in Mohammed bin Rashid City
The anticipated completion date for The Cube Residences is Q4 2026
AD Ports Group
Vingroup, AD Ports Group sign MoU to explore developing ports, logistics sectors in Vietnam
AD Ports Group is to manage the operational aspects of the projects, while connecting with international customers to position Vietnam as an essential part of the global supply chain
Aviation
India’s IndiGo adds daily Pune-Dubai flights
The new flight services will commence from November 22
Beautyworld Middle East
Beautyworld Middle East 2024: Dubai has ‘huge interest’ from beauty industry
In an exclusive interview with Arabian Business, Messe Frankfurt Middle East’s portfolio director Teresa Heitor talks Beautyworld Middle East 2024 event success, beauty industry projections and why Dubai is key to the beauty industry
Dubai
Dubai set for first-ever Spartan Trifecta weekend in major partnership with ITP Media Group
The new partnership with ITP Media Group signals a strategic move to extend Spartan Race’s reach in the Middle East
Abu Dhabi
Abu Dhabi’s ADNEC Group takes over London’s Business District Centre
A Grade II listed space, BDC is 4.5-acre freehold estate and one of UK’s most popular MICE venues hosting 130 events annually
Abu Dhabi
Emirates Stallions Group revenue soars 125% YoY to $245.2 million
Operational profit up 69% to $41.33 million; Gross profit up 221% to $82.83 million; Total assets rise 13% compared to December 2023
Dubai
Dubai launches MASSIVE AED 1 trillion real estate strategy for 2033
The plan aligns with the Dubai Economic Agenda D33, Dubai Social Agenda 33, and the Dubai 2040 Urban Master Plan, incorporating AI-driven analysis and digital solutions for property management
Careem
Careem announces launch of all new beach delivery service with GPS umbrellas
Customers can unlock these umbrellas by scanning a QR code through the Careem application, allowing delivery personnel to locate them with precision
Airline
Emirates suspends flights to Iraq, Lebanon, resumes service to Tehran
Dubai-based Emirates continues to closely monitor the situation in the region and are in contact with relevant authorities regarding developments