Author Archives: Staff Writer
PIF
Saudi wealth fund PIF opens Paris office to boost European investments
French President joins PIF Governor Al-Rumayyan to inaugurate Paris office during ‘Choose France’ summit
Abu Dhabi National Energy Company (TAQA)
TAQA Morocco and partners eye AED52bn in Moroccan energy and desalination projects
TAQA Morocco signs MoUs for major low-carbon energy, desalination, and infrastructure developments supporting Morocco’s energy transition and water security
Islamic New Year
UAE holidays 2025: Will residents get a long weekend ahead of Islamic New Year?
Islamic New Year 1447 could potentially fall on a Friday late June, giving UAE residents a three-day break but exact dates hinge on the moon sighting
Abu Dhabi
Betterhomes, DHB Holding launch Opula residential development in Abu Dhabi’s Yas Bay
The Opula development will feature a range of units including one to four-bedroom simplexes, duplexes, penthouses, and townhouses
Abu Dhabi
UAE real estate: Abu Dhabi secondary property market surges by 53% in Q1 2025
The secondary market now represents 11.4 per cent of the total real estate market in Abu Dhabi
Make it in the Emirates
Abu Dhabi-based NMDC LTS and Jiangsu Huaying Valves look at establishing facility in UAE
MoU for a potential JV announced at Make it in the Emirates; Facility will assemble, fabricate and distribute valves for energy sector
Brookfield Asset Management
Brookfield, Lunate form $1bn Middle East residential property joint venture
The venture will target build-to-sell and buy-to-sell residential assets in the UAE, Saudi Arabia, and other regional markets
Dubai real estate
Select Group completes $1.9bn Peninsula development sales in Business Bay
Peninsula spans 3.3 million sq. ft. of waterfront real estate, combining residential, commercial, business and lifestyle amenities in a waterfront destination
diamond
Over 1bn carats of diamonds traded through Dubai in past 5 years
Dubai saw almost 179m carats of diamonds traded in 2024
Emirates Development Bank
Emirates Development Bank launches $272m fund to boost UAE SMEs
Emirates Growth Fund will invest up to $13.6m per UAE SME
Dubai World Islands
Dubai World Islands: e& to power high-speed internet, drone services and AI to Heart of Europe hotels
E& and Kleindienst Group team up to provide digital hospitality on Dubai World Islands
Global Village
Global Village Dubai ends with record 10.5m visitors
Global Village Season 29 ends with record visitor numbers
Make it in the Emirates
Make it in the Emirates 2025: UAE industrial exports pass $53bn as sector creates jobs and boosts economy
Industrial growth in the UAE is creating massive job opportunities and making major impact on national economy Make it in the Emirates attendees hear
Abu Dhabi
Abu Dhabi announces car manufacturing plans as it eyes $27bn automotive plan and 7,000 skilled jobs
Abu Dhabi Investment Office launches automotive industry plan as it targets major investment and manufacturing drive for motoring sector
Dubai Executive Council
Dubai launches $1.2bn PropTech Hub to power future real estate
The Dubai PropTech Hub will double the value of the sector
Al Ain
Dubai to slash journey times on major road with new bridge
RTA to build new bridge in Nad Al Sheba to cut Dubai journey times for thousands of motorists a day
Khorfakkan
UAE beach closed to swimmers after oil found in sea
Khorfakkan Municipality in UAE said Al Zubarah Beach would be temporarily closed to swimmers after oil detected
Pure Health
PureHealth invests $613m in local goods and services, eyes $3.5bn UAE spend
PureHealth investing in UAE goods and services as it expands healthcare sector businesses
Connectivity
UAE’s Orbitworks unveils AI-powered Altair satellite fleet to boost sovereign space capabilities
Orbitworks revealed plans to manufacture its Altair satellite fleet in the UAE
Dubai Higher Education Statistics
Dubai now has more than 42,000 students enrolled at 41 private higher education institutions
Dubai saw a 20 per cent increase in higher education student enrolment for the 2024–25 academic year
First Abu Dhabi Bank
FAB becomes first MENA bank to launch Oracle-Mastercard embedded finance solution
The collaboration combines the strengths of the two industry leaders to revolutionise B2B finance and payments processes
Bangladesh
India cuts key imports from Bangladesh: Report
The move comes amidst the growing rift in relations between the two neighboring South Asian countries
Abu Dhabi industrial sector
Abu Dhabi Industrial Strategy sees sector GDP pass $30bn
Abu Dhabi is seeing a massive increase in industrial business as economy diversifies
Moody's
US stock futures and dollar slide after Moody’s downgrade
The ratings agency dropped the US government from Aaa to Aa1, citing budget deficit concerns; Asian stocks fall, but DFMGI rise
Aviation
Qatar Airways announces record $2.15bn profit
Qatar Airways Group reports $500m increase in profit for the 24-25 fiscal year
Emirates NBD
Emirates NBD launches new credit card with Majid Al Futtaim offering 8% rewards
New credit card links to more than 5,000 stores, providing rewards on purchases both within and outside Majid Al Futtaim’s retail network
Dubai
Global investment companies line up for a piece of Dubai real estate pie
Bloomberg reports that Brookfield and Mapletree planning investments after recent deals by Goldman Sachs, Apollo and Hillhouse
Future Investment Initiative
Saudi Arabia’s PIF plans to double European investments to $170bn by 2030
Saudi sovereign wealth fund governor warns EU ‘outrageous’ sustainability rules could drive away investment
ADNEC
UAE’s ‘Make it in the Emirates’ forum kicks off with 720 global exhibitors in Abu Dhabi
Four-day industrial event features 720 exhibitors showcasing 3,800 products across 12 vital sectors
Moscow
Saudi visitors to Moscow surge 470% as Russia boosts tourism ties
Saudi Arabia ranks second for Russian e-visas, with over 80,000 issued since August 2023
Connectivity
UAE’s Space42 opens Middle East’s first high altitude platform stations factory
The HAPS facility is part of Space42’s broader investments in vertically integrated manufacturing and data infrastructure
AI Everything
What to expect from UAE delegation at GITEX EUROPE this week
Dubai brings 12 government and private entities to the inaugural European edition of the global tech exhibition, taking place May 21-23 at Messe Berlin
Artificial intelligence
UAE sees sharp rise in AI-assisted shopping with 70% adoption rate: Report
UAE retailers are responding to this trend, with 41% planning to invest in AI to support sales and marketing efforts over the next 12 months
Brand View
Saudi property developer OSUS set to unveil landmark mixed-use project in Riyadh
Groundbreaking mixed-use project expected as leading Saudi developer prepares major announcement
Dubai
Dubai’s Fundamental Hospitality reports record 1 million visitors as tourism surges 17%
“The surge in footfall and enthusiasm we’ve witnessed in 2025 is unlike anything I have experienced in my two decades in Dubai,” says the group’s Chairman
Al Marjan Island
Ras Al Khaimah’s Fairmont Residences to begin sales next month
Sales for Fairmont Residences Al Marjan Island begin June 1
Dubai
Dubai Holding increases the size of its Dubai Residential REIT IPO
The Second Tranche, open to qualified institutional investors, will now offer 1,787,500,000 units, which will increase the public float to 15% when the IPO closes on Tuesday
ADNOC
ADNOC awards $18bn of contracts in H1 2025
ADNOC plans to channel $54.5bn into UAE economy through its ICV program in 5 years
Make it in the Emirates
Ras Al Khaimah to showcase tremendous economic growth at UAE manufacturing forum
Ras Al Khaimah highlights investment opportunities at Make it in the Emirates 2025 in the UAE
Dubai Creek
Dubai completes $30m Creek wharf makeover
Dubai Municipality finishes $30m Creek wharf development project
Hail
Saudi Arabia highlights $13.3bn investment opportunity in Hail region
Saudi Arabia showcases more than 100 investment opportunities worth more than $13bn in Hail
dedicated bus lane
Dubai plans 6 new bus lanes as RTA reveals 11,000 daily trips and reveals 188m passengers last year
Dubai is further developing its bus service as it looks to expand network and number of dedicated transport lanes
abu dhabi airport
Abu Dhabi authorities bust smuggler who hid $1.4m of cocaine in his intestines
Cocaine smuggler thwarted at Zayed International Airport with AED5m of drugs hidden in body
DLD
Off-plan real estate sales in Dubai have already reached $24.5bn this year as high returns and easy finance lure investors
Off-plan real estate in Dubai is booming as investors snap up new properties
Saudi ministry of commerce
Saudi Arabia warns firms to submit financial statements or face fines
Saudi Arabia’s Ministry of Commerce highlights approaching deadline for financial and accountancy submissions
fintech
UAE fintech sector to hit $6.43bn by 2030
UAE fintech sector is rapidly growing with Dubai and Abu Dhabi developing apace
Auction
RTA to auction premium Dubai number plates
Dubai’s RTA will sell off premium three, four and five-digit number plates
DLD
Dubai real estate sector recorded $4.7bn of transactions last week, including $67m Business Bay building
The Dubai real estate sector saw $4.7bn of transactions and 4,048 sales last week
Cybersecurity
UAE announces drone cybersecurity guidelines
UAE Cybersecurity Council develops guidelines for drone usage in the country
robot taxi
WeRide announces fully driverless Abu Dhabi robotaxi trials
WeRide to trial robotaxi rides in Abu Dhabi without human safety driver
cashless payment dubai
Dubai Finance and DIFC target cashless future
DIFC and Dubai Finance sign MoU to implement cashless strategy
abu dhabi flights
Etihad boosts US network with flights to Charlotte from 2026
Etihad Airways to launch direct flights to Charlotte, North Carolina