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Ban includes those who violated restrictions by visiting ‘green list’ states first as coronavirus continues to impact many countries worldwide
Author Archives: Staff Writer
AB Money
Expert advice: Investing your surplus money
Lewis Delaney, financial advisor specialising in long-term investment, estate planning and finance, answers your investment questions
Blockchain
Crypto corner: Why the coin that started as a joke is no laughing matter now
Although Dogecoin is a much cheaper coin than other mainstream currencies, it has been backed by influential people such as Tesla CEO Elon Musk, entrepreneur Marc Cuban and rapper SnoopDog
Exinity Group
Why gold is retaining its sparkle among investors amid competition and Covid
Expert analysts agree that gold remains an attractive long-term investment option
AB Money
Inflation: the tall, dark stranger of the next 12 months
After almost 15 years of record low inflation, investors are once again having to contend with its corrosive impact. But for how long?
banking
How a UAE-based start-up is building a global business from Dubai
Fintech start-up, Xare, has already created a vast global footprint, with more than 500,000 users across 120 countries within six months of its launch
covid-19
How Dubai-based start-up is blossoming after Covid-enforced pivot
Joelle Clute explained how coronavirus led to the creation of The Lovely Flower Shop
Bee’ah
UAE to build one of world’s largest $1.1bn waste-to-energy plants
Bee’ah, the company managing Sharjah’s waste, says it will create green spaces and install a 120-megawatt solar-power facility on top, as well as produce hydrogen from the garbage to fuel its rubbish trucks
covid-19
Emirates extends flight suspension from India, Bangladesh, Pakistan and Sri Lanka
Passenger flights from the four countries will not operate before August 7, according to latest update
Abu Dhabi green list
Abu Dhabi updates travel green list, eight countries added, 12 removed
Authorities in the UAE have warned residents to stick to countries on the green list when planning trips abroad
airport coronavirus
Middle East air travel demand remains 80% below pre-pandemic levels
Latest IATA data shows Middle East airlines reported a small improvement in passenger demand in June compared to May
Maldives
Exclusive hospitality and unforgettable experiences in the Maldives: Ithaafushi – The Private Island launches
Award-winning Waldorf Astoria Maldives Ithaafushi unveils largest Maldivian private island
ras al khaimah coronavirus
Ras Al Khaimah provides funds for nurseries forced to close by Covid crisis
Funding initiative was launched following a directive from Sheikh Saud bin Saqr Al Qasimi, Ruler of Ras Al Khaimah
Aljada
Arada sees surge in property sales as Sharjah’s real estate market rebounds
Developer says sales have increased by 85% during the first six months of 2021
Blended learning
Demystifying blended learning in the age of the pandemic
Through principles of learning design, blended learning combines high-quality in-person and digital learning experiences that benefit from the best of both learning environments – allowing for more support and engagement with learners
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banking
First Abu Dhabi Bank reveals 11% hike in H1 profits
Bank has announced profits of $1.47bn for the first six months of the year
Automotive
Duckhams, the iconic British lubricant brand since 1899, launched in the UAE
Brand View: The Duckhams brand was launched in the celebrated city of Dubai on July 14. Emirates for Universal Tyres LLC, part of Abdulla Al Masaood & Sons Group, was appointed as exclusive distributor of Duckhams in the UAE
Doctor
UAE opens 10-year ‘Golden Visa’ scheme to all resident doctors
All doctors licensed by the UAE health regulatory bodies can apply for the golden visa between July 2021 and September 2022
Dino Varkey
Future learning: Democratising schooling through ed tech
Dino Varkey, the CEO of GEMS Education, sits down with Arabian Business to discuss how the use of technology and innovation has accelerated in his business.
Aviation
Etihad Airways rolls out IATA Travel Pass to seven cities
Pass is now included on flights between the UAE capital and Bangkok, Barcelona, Geneva, Madrid, Milan, New York and Singapore
biosimulation
Abu Dhabi’s Mubadala invests $250m in global biosimulation company
Certara accelerates medicines using biosimulation software and technology to transform traditional drug discovery and development
Directorate General of Civil Aviation
Kuwait to allow return of fully vaccinated expats from August
Only Kuwaiti citizens who have been fully vaccinated will be allowed to travel out of the country
Noticeboard
Salesforce completes acquisition of Slack
Together, Salesforce and Slack are creating the digital HQ for success from anywhere
DP World
UAE’s DP World reports strong Q2 2021 results with 17.1% volume growth
Group’s near-term outlook is positive but coronavirus and geopolitical uncertainty could once again disrupt the global economic recovery, said DP World’s CEO
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Ajman Bank PJSC
Pakistan’s $350m murabaha syndicated financing concluded by UAE banks
Islamic syndication facility attracted more than 75% oversubscription and was fully subscribed by 12 banks
banking
Dubai Islamic Bank improves profitability, total income up 5%
Second largest Islamic bank in the world has group assets in excess of $80bn and a market capitalisation of $9bn
Aviation
Etihad extends India flight suspension to August
Passengers who have transited through India, even if on trips originally departing from other countries, in the 14 days prior to their arrival to the UAE, will also be denied entry
banking
Emirates Islamic’s net profit jumps to $155m in first half of 2021
Dubai-based bank’s net profit rose on the back of higher non-funded income, lower costs and lower impairment allowances
banking
Dubai-based Emirates NBD posts 17% jump in profits
Emirate’s biggest bank’s total income for the first half of 2021 was up 9% to $3.1bn over the first six months of the year due to increased transactional activity and stable net interest margins
Dubai real estate
Dubai’s property market rebounds in first half of 2021
Secondary property transactions increased by 44 percent from H1 2020, while off-plan transactions showed slightly less increase
Artificial intelligence
Riyadh-based WeDeliver closes $2.4m record pre-seed round
Funding round is largest for a Saudi start-up and third largest for a start-up in the MENA region
American Petroleum Institute
Oil resumes gains as report points to shrinking US stockpiles
Global inventories are expected to tighten through the rest of the year as key energy consumers continue to rebound from the pandemic, although the latest Covid-19 resurgence is raising concerns about the short-term demand outlook
deep dive dubai
World’s deepest pool in Dubai opens to the public on Wednesday
Deep Dive Dubai announces that public bookings are now open online at deepdivedubai.com
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Dubai property prices
Dubai property prices accelerate at fastest rate since 2014 in Q2
Knight Frank says average prices remain 26.3% down on their previous highs despite recent rebound
National Bank of Ras Al Khaimah
RAKBank CEO sees Q2 as ‘turning point’ as it recovers from Covid shock
Peter England describes the second quarter of 2021 as ‘very strong’ after net profit rebound
Fitch Ratings
Fitch upgrades outlook for six Saudi banks on back of gov’t support
Ratings agency revises outlooks for Saudi banks to stable from negative
Alfanar
How venture philanthropy is impacting giving in the Arab world
Alfanar works with 17 social enterprises in Lebanon and Egypt and has completed the training of 60 social entrepreneurs in Jordan. It has also supported 38 social enterprises over its lifetime
Dubai Chamber
Dubai start-ups turning to TikTok to help them flourish
Businesses that have successfully navigated virtual customer interactions and grown their online brand presence have seen their bottom lines improve, according to Natalia Sycheva, senior manager for special projects and entrepreneurship at Dubai Chamber
Employment
How to handle an employee’s pay rise request
One of your employees has asked for a pay rise and it’s up to you to respond. But how do you make the right decision?
Bio Lab Exotique
Dubai-based entrepreneur – from styling celebrities to making organic products
Ollia Tzarina is looking to tap into the clean beauty sector and has already attracted the attention of top stars Beyonce, Cardi B, Ariana Grande, and the Kardashian clan
Chocolate
Saudi Arabia reveals sweet tooth with $9.3bn industry investment
Figures released by the Ministry of Industry and Mineral Resources reveal 1,066 sweets and chocolate factories across the kingdom
Coronavirus Kuwait
Kuwait announces relaxation of coronavirus restrictions
Evening curfew for commercial businesses lifted, while open all activities, summits, social events, including children activities, will reopen from September 1
covid-19
Double-jabbed British expats in UAE given ray of hope for quarantine-free UK travel
Brit expats who have received both vaccines can travel under relaxed rules from next week, according to reports, although the UAE must first recognise the UK’s NHS app
Expo 2020 Dubai
Dubai-based Udrive completes $5m funding round, eyes up Expo boost
App-based pay-per-minute car rental service to double its fleet over the next three months, with a 500% revenue growth target in the next 12 months
Data Finder
Dubai’s mortgage market booms as reforms encourage first-time buyers
Following the Covid-19 lockdown slump, Dubai’s mortgage market is well on its path to recovery with a 91% increase in mortgages completed between the second half of 2020 and the first half of 2021, according to Mortgage Finder
Healthcare
How I juggled work and IVF
Here’s my top tips, most of which I’ve discovered the hard way, on how to navigate the whole process
automotive industry
UAE-based Open Bonnet in fundraising talks, set to foray into Saudi, Oman
Auto market start-up is also in negotiations to strike increased strategic partnerships to expand into more segments like commercial vehicles and insurance related services
crowdfunding
How three Dubai-based women are using crowdfunding to realise cafe dream
Amsay’s the Pastry Bar aims to raise AED300,000 through local crowdfunding platform Dubai Next
Credit Suisse
Global LNG market faces shake-up from Japan’s green shift
Shift aims for LNG-fired power generation to fall by roughly half this decade, creating upheaval for Japanese utilities as well as suppliers from Qatar to Australia to the US
covid-19
Oil edges higher as investors assess demand amid delta spread
While headwinds are mounting, there are expectations that the market with continue to tighten throughout 2021
Sharjah economy
Sharjah real estate deals jump 40% to $3.3bn in H1
Sharjah Real Estate Registration Department records 40,346 transactions related to 75.2 million square feet of real estate in the emirate
Al Bayader
Al Bayader secures financing for UAE’s largest food packaging complex
When completed in 2023, the facility will quadruple the company’s total production capacity to over 120,000 tonnes
Abu Dhabi economy
Abu Dhabi’s Hub71 picked to endorse entrepreneurs worthy of golden visas
Global tech ecosystem will review, evaluate and issue endorsement letters to entrepreneurial talent in the UAE capital
Abu Dhabi Chamber of Commerce and Industry
Abu Dhabi reduces business set-up costs to help drive economic growth
Business set-up fees in Abu Dhabi have been reduced to AED1,000 – a cut of more than 90%