With 12 new branches in 2021 already, Abu Dhabi-based financial services giant LuLu Financial Group is betting big on the global payments economy
Author Archives: Staff Writer
Emaar Development
Emaar Development posts 20% growth in first quarter of 2021
Emaar Development has delivered around 1,100 residential units during Q1 2021 across prime locations, including Dubai Hills Estate, Dubai Creek Harbour, Downtown Dubai and Emaar South
Hilton Seychelles Labriz Resort & Spa
Review: Paradise found at Hilton Labriz in the Seychelles
Thanks to the UAE’s vaccination programme, there is now no quarantine needed to travel to this stunning island and become a traveller in the world again
Aviation industry
UAE suspends flights from Bangladesh, Pakistan, Nepal and Sri Lanka amid Covid threat
Measure announced by the General Civil Aviation Authority and the National Emergency, Crisis and Disaster Management Authority comes into effect 11.59 pm on Wednesday
-800x600.jpg)
Asset Management
Dubai’s Shuaa Capital records highest Q1 profits in a decade
Looking ahead to Q2, Shuaa is looking towards a ‘healthy pipeline of activity and deals across the platform, including some transactions which saw delays in completion in the first quarter of the year’
General Authority for Statistics
Saudi non-oil economy grows for first time since pandemic
The non-oil sector grew 3.3 percent from a year earlier, according to a preliminary estimates released by the kingdom’s General Authority for Statistics
DIFC Companies Law
What the new DIFC law means for business growth
What has changed with the new law announced by Ruler Sheikh Mohammed bin Rashid Al Maktoum? Scott Cairns, managing director of Creation Business Consultants unpacks the changes
cost of recruitment
UAE companies look to hire locally as travel ban from India remains in place
The shift may lead to a spike in the cost of talent acquisition for employers
business outlook
RAK Ceramics records strongest first quarter since 2016
The ceramics giant has recorded its strongest start to the year since 2016, with first quarter revenue increasing 21.9 percent year-on-year to AED722.8 million
Danube Group
Danube Home-Dubai to donate 10 percent of its May profits towards coronavirus relief in India
The relief initiative will be handled by Danube Home Foundation, through which customers will also be urged to contribute towards this noble cause
ESG in the Middle East
The increasing role of ESG investments in the race to zero
Environmental, social, and corporate governance (ESG) investments represents a third of the assets under management, according to Bloomberg Intelligence
AI ecosystem
How Dubai-based start-up nybl has ‘ripped up the playbook’ for AI
Science-based AI pioneer announces latest acquisition and reveals plans for an upcoming IPO
Business confidence in UAE
Dubai business activity improves as tourism, vaccines gain steam
The private sector, excluding oil, grew for a fifth-straight month in April, according to IHS Markit
AB In Focus
Arabian Business Talks exclusive: Jon Oringer webinar
Registration is now open for this one-on-one conversation with the founder of Shutterstock and the co-founder of Pareto Holdings on tech, entrepreneurship and his hunt for the next billion-dollar idea
Abu Dhabi Global Market
Protecting your assets: Why foundations are on the rise
Foundations are a form of a hybrid entity similar to both a private company and a trust structure. Combining the mechanisms of both, a foundation is established for beneficial purpose determined by the founder, yet it retains a corporate level of independent legal personality
CE-Ventures
UAE-based CE-Ventures to double start-up funding to hit AED1bn by 2022
Corporate venture capital platform of Crescent Enterprises has already invested over AED500m in 32 start-ups and VC funds across the MENA region, the US, India, and Southeast Asia
Air Arabia
Air Arabia continues route to Covid-19 recovery with $9.3m Q1 profit
Sheikh Abdullah Bin Mohamed Al Thani, chairman of Air Arabia, remains ‘hopeful’ travel restrictions will ease in line with increasing global vaccination rates
consumer behaviour
How UAE consumers and businesses are refocusing on wellness this Ramadan
This year, under the shadow of Covid-19, how we observe Ramadan has changed
financial results
UAE cooling giant Tabreed reveals $23.3m profit for Q1, 2021
Financial results show group revenue increased by 21% to reach $97.4m for first three months of year
Emaar
Emaar Malls reveals 169% quarter-on-quarter increase in profits
Shopping malls and retail business giant reported profits of $87m for first three months of the year
Dana Gas
UAE’s Dana Gas posts 41% net profit increase in Q1 2021
In April, Dana Gas’s $236 million deal to sell oil and gas blocks in Egypt to Texan company IPR Energy Group fell through
Chopard
Chopard’s Mille Miglia Middle East Edition: ‘A must-have for any gentleman’s wardrobe’
A limited edition of the gentlemen drivers’ timepiece
Hospitality business
UAE-based Time Hotels reveals ambitious growth plans
Company to increase portfolio to 30 properties by 2025, with openings planned for the Middle East and Indian Ocean
Dubai Financial Market
Dubai shares lead Mideast gains on property optimism: Inside EM
The Dubai Financial Market General Index jumped about 1 percent as Emaar advanced as much as 2.8 percent, the biggest gain on the gauge in point terms
Black and Blanc
Dubai-based start-up Black and Blanc aiming for ambitious growth
Brand specialises in prestigious flower arrangements, which are inspired by the passion for floristry, interior design and well-known French fashion houses
business solutions
UAE-based Transguard looking to fill 12,000 roles in next three months
Managing director Greg Ward revealed the company lost 15,000 members of staff during last financial year
architecture and design industry
Will virtual reality play a part in the future of design?
Husain Roomi, co-founder of H2R Design, shares his thoughts on whether this revolutionary technology is the design world’s next big thing
GCC expats
Moving the needle on workplace mental health in the Gulf region
For expats in the Gulf region, work is the epicenter of daily life and the very reason they reside in the region
flexible business model
Skills: The modern-day workforce currency
The pandemic brought to the fore the need for companies to be able to mobilise talent quickly and efficiently to where it is needed most, in order to support business transformation and organisational resilience
ADQ
Abu Dhabi ADQ offers to form steel, building materials giant
ADQ, one of Abu Dhabi’s three sovereign wealth funds, plans to combine Emirates Steel Industries PJSC with Arkan Building Materials Co. and form an entity with total assets of about $3.54 billion
green investments
First green mortgages issued in UAE through HSBC bank
Climate change has become a global pressing issue and governments and private entities are racing to find new ways to incentivise green investment
high tech talents
Flight ban grounds UAE companies’ recent hires in India
The unabated Covid-19 crisis in the South Asian country has also hit major tech multinationals operating in the UAE as tech hubs in South India have been disrupted by the pandemic
Al Maktoum International Airport
Dubai business aviation firm sees jump in activity during Q1
DC Aviation Al-Futtaim records a 25% increase in private and business jet activity during the first three months of 2021
Diplomatic relations
Person-to-person diplomacy in MENA can open markets, employ millions, says former US Congressman
Former Omani ambassador to the US Hunaina al-Mughairy also said that Oman is engaging in its own ‘soft diplomacy’ just blocks from the White House
Brazilian agribusiness
Saudi Arabia halts some Brazil poultry including JBS plants
The Saudi Food and Drug Authority said imports from the plants will be suspended from May 23
coronavirus infection
Oman to vaccinate 1.5m against Covid-19 by the end of June
Minister of Health reveals plan to immunise 70% of the Sultanate by the end of this year
Fawaz Abdulaziz Alhokair Co
Saudi’s Alhokair inks deal to bring French electronics giant to kingdom
Under the agreement, the first Fnac store in Saudi Arabia will open in 2022
-800x600.jpg)
Abu Dhabi
Developer reveals retailers for Abu Dhabi’s first urban lifestyle park
Imkan progresses with plans to open Sheikha Fatima Park later this year
Al Habtoor Group
Top Dubai businessman questions UK’s decision to keep the UAE on travel ‘red list’
Khalaf Ahmad Al Habtoor, founder of the Al Habtoor Group, says he is ‘shocked and surprised’ by Britain’s decision
Abu Dhabi
Over 5,000 Covid rule violations reported in Abu Dhabi in past week
Abu Dhabi Emergency, Crisis and Disasters Committee announces temporary closure of 71 commercial establishments for 14 days
Dar Al Arkan
Saudi developer reveals Elie Saab collaboration for luxury Riyadh villas
Dar Al Arkan to launch exclusive co-branded villas with global designer to be part of the Shams Ar Riyadh project
Dana Salbak
Demand for Saudi office space likely to remain strong for ‘years to come’
Consultants JLL cites new relaxed regulations as well as steps taken to attract multinational companies to Saudi Arabia
Al Habtoor Group
Dubai tycoon expects double-digit growth in 2021 despite pandemic impact
Khalaf Ahmad Al Habtoor hails ‘resilience’ of the UAE economy during the first quarter of the year
debt market
How Saudi Arabia is likely to fund its Vision 2030 ambitions
Ratings agency S&P says Saudi Arabia’s debt capital market is set to take on a larger role in financing huge programme
Dubai real estate market
How Dubai compares globally for luxury apartment rents
New Knight Frank research shows you can afford a 4,800 sq ft pad in Dubai for $10,000, more than three times the space in Hong Kong
Blockchain
Why NFT creator Icecap saw Dubai HQ move as ‘no-brainer’
Launched in Denver, Colorado in 2020, the company has moved its HQ to within Dubai Multi Commodities Centre
coronavirus vaccines
WHO approves Sinopharm vaccine, boosting Gulf-European travel hopes
World Health Organisation has given an emergency use listing to Sinopharm, China’s Covid-19 vaccine
Abu Dhabi International Airport
UK delivers tourism blow as the UAE remains on ‘red list’
Experts say the latest ruling will ‘substantially’ dampen travel between Britain and the UAE
bahrain coronavirus crisis
Bahrain’s Gulf Air starts IATA Travel Pass trial on key routes
National carrier of Bahrain launches Covid travel app on flights to London, Athens and Singapore
DGCX
Israeli corporations win approval to trade on Dubai’s gold exchange
Dubai Gold & Commodities Exchange says it has received a permit from the Israel Securities Authority
Abu Dhabi Securities Exchange
Abu Dhabi’s IHC says to list three subsidiaries on local bourse in Q2
Three subsidiaries of International Holding Company will be listed on Abu Dhabi Securities Exchange’s second market
Saudi Central Bank
Saudi Arabia sees big rise in Q1 home financing amid ownership boom
Saudi Central Bank says property financing contracts reach SR17.5bn in March
cacao
How Dubai aims to become global hub for trade in superfood cacao
Dubai Multi Commodities Centre has announced plans to launch a state-of-the-art DMCC Cacao Centre