Tourism chief says Dubai’s ‘indomitable spirit’ will see it re-emerge stronger and more optimistic for Expo 2020 in October
Author Archives: Staff Writer
blockchain technology
Icecap launches NFT Diamond Collectibles from new Dubai base
A $3 million intense red carat diamond is included in the first offering
clean energy
15 years on, the global influence of Abu Dhabi’s Masdar
Today, Masdar is active in more than 30 countries and continues to expand despite Covid impact
Brexit
British firms flock to set up UAE offices despite Covid impact
Dubai-based Pro Partner Group reports 60% rise in UK registrations year-on-year in Q1
Ali Sharif Al-Emadi
Qatar orders arrest of finance minister Ali Sharif Al-Emadi
Qatar’s prosecutor to question minister over alleged abuse of power and misuse of public funds
Dubai coronavirus
Emirates REIT posts $244m loss after Covid, asset revaluation blows
Dubai-based real estate investment trust says 2020 presented ‘unforeseen challenges’
Dumat Al Jandal wind farm
Construction of Saudi Arabia’s first major wind farm hits midway mark
Once commercially operational in 2022, Dumat Al Jandal will potentially supply clean electricity to 70,000 Saudi households
Bahrain Chamber of Commerce and Industry
Bahrain businesses expect $2.9bn boost as King Fahd Causeway prepares to re-open
Bahrain’s Chamber of Commerce and Industry sees tourist spending surge after May 17 when Saudi Arabia re-opens its borders
Aramex
Covid costs weigh on Q1 profits of Dubai logistics major Aramex
Aramex also announces appointment of new CEO following the resignation of Bashar Obeid
DIFC
New DIFC law issued as Saudi Arabia steps up competition to attract global firms
Ruler Sheikh Mohammed bin Rashid Al Maktoum issues new law to expand the strategic objectives of Dubai International Financial Centre
Anantara Dhigu Maldives
Eid escapes: Anantara Dhigu Maldives
Take advantage of the long Eid break coming up and book a last-minute escape to Anantara Maldives
Family Business Council – Gulf
The family way: How the Gulf could create a more sustainable private sector
By enabling smooth transfers of ownership and management for family businesses, we can support a more vibrant private sector and the shift to a knowledge-based economy, writes Omar Alghanim, Chairman of the Family Business Council – Gulf
acquisitions
Diamond’s Atlas Mara receives approaches for Africa assets
Middle Eastern banks and private equity suitors have shown interest
Afkar Financial and Property Investments
Abu Dhabi-based IHC reports $408 million net profit in first quarter of 2021
Revenues in the first quarter 2021 were AED2.276 billion, up from AED1.563 billion in Q1 2020
assets under management
Mubadala had record investments as focus shifts away from energy
Mubadala Investment Co. said new investments amounted to 108 billion dirhams ($29.4 billion) in areas such as technology, life sciences and consumer goods, according to its 2020 results
GCC-India business
GCC-India partnership: Urgent need to deepen entrepreneurship and technology ecosystem synergies
Why the expanding GCC-India start-up ecosystem cooperation is now critical, as the subcontinent now ranks among the world’s biggest markets for investments
alternative asset management
Biggest Middle East PE firm targets larger North American deals
Investcorp, which counts Abu Dhabi sovereign wealth fund Mubadala Development Co. as a major investor, outlined a plan to double its assets under management from about $25 billion in 2018 within seven years
FMCG
Investing in Yemen’s long-term sustainable development
How Hayel Saeed Anam Yemen, the country’s largest company, is helping its home market meet the UN’s 2030 Sustainability Agenda
Dr Kholoud
SHEIN launches Ramadan collection in collaboration with Dr Kholoud
The partnership brings together a global online fashion retailer and a Kuwaiti social media sensation
business opportunities
Hollywood A-List celebrities to head to the Middle East after new joint venture
MELT-OWSC, a joint venture of OWS Capital and MELT Middle East, is set to change the landscape within the celebrity entertainment space in the region
Electricity and Water Producer
SHUAA sells 20% stake in Mirfa International Power and Water Company to Japanese investor
Sojitz Corporation will join Abu Dhabi National Energy Group PJSC and Engie SA as shareholders in Mirfa
Arabian Travel Market
Partnerships key to Dubai’s tourism revival, says industry chief
Issam Kazim spoke at the Arabian Travel Market 2021 press conference held ahead of the event set for May 16-19, which is to be the largest in-person event since the onset of coronavirus 18 months ago
EFG Hermes
EFG Hermes completes advisory on sale of 100% of Bank Audi S.A.E to First Abu Dhabi Bank
The deal marks the ninth transaction by EFG Hermes’ investment banking division in 2021 and is a continuation of the team’s longest streak of deals in a single year, which reached an all-time high of 24 transactions in 2020 worth an aggregate value of $1.7 billion
foreign investment
Growth expected in Saudi retail, hospitality, office markets, KnightFrank research shows
Saudi’s Vision 2030 looks to diversify Saudi Arabia’s economy away from oil through focusing on a number of pillars, including increasing direct foreign investment, tourism and the number of locals in the workforce
Dubai real estate market
Dubai’s real estate sales hit four-year high in April
Last month saw six villa transactions worth over AED50m each, according to data from Property Finder
Buyer decision processes
Understanding how consumers make decisions
There are important practical implications in understanding the decision rules that consumers are most likely to use within a given product category
coronavirus UAE
UAE’s Ras Al Khaimah sees local tourism, real estate demand surge during pandemic
Tourism and residential real estate in RAK saw a boom amid coronavirus as UAE residents sought a more relaxed environment, Al Hamra chief says
Aviation
Etihad Airways has ‘no plans’ to introduce premium economy
Martin Drew, SVP global sales & cargo at the Abu Dhabi-based carrier told Arabian Business that he has confidence that demand for first and business class travel will return and remain
DAFZA
Dubai free zone DAFZA overcomes Covid impact with $32bn trade
Dubai Airport Freezone Authority says it contributed 10% of Dubai’s non-oil foreign trade
Aldar Properties
Aldar picks first start-ups to develop the UAE’s PropTech ambitions
Abu Dhabi developer picks German, Finnish and British firms to participate in Aldar Scale Up accelerator programme
hajj 2021
Saudi Arabia said to mull overseas Hajj pilgrims ban for second year
Sources say Gulf kingdom is considering measures to contain the spread of coronavirus for a second year
Coronavirus Pandemic
How Emirates is responding as aviation market mutates after Covid impact
Dubai airline will install premium economy cabins as it prepares for an anticipated shift in demand after the coronavirus crisis
Dubai economy
Dubai holds final meeting ahead of launch of delayed Expo 2020
Arrival of 370 delegates from around the globe demonstrates that Dubai is open for business and ready to welcome the world, says top official
Coronavirus vaccine
Why WHO approval of Sinopharm vaccine will boost European coffers from Middle East travel
Vaccine, which has been widely used across the region, is expected to be passed by the WHO by the end of the week
CSR
CSR is no longer just an optional add-on for conscientious and conscience-driven leaders
Omar Channawi, president and general manager of Procter & Gamble in the region, shares an insight into making sustainable decisions that will impact the business and the planet for the long term
Apicorp
Over $800 billion to be invested in MENA energy sectors in next five years, APICORP report says
As the global economy and energy markets continue to recover from the damage coronavirus wreaked last year, investors are looking to the future, and it’s increasingly green
Bitcoin
Cryptocurrencies offer Lebanese a place to put their cash amid hyperinflation
Lebanon is witnessing increased demand for cryptocurrencies as the lira continues its downward plummet and the economic situation worsens
Mastercard
Mastercard’s New Payments Index highlights increased appetite for digital payments in the UAE
97 percent of consumers in the UAE are considering emerging payments such as wearables, biometrics, digital wallets and currencies, and QR codes, according to the new report
consumer data
The direct-to-consumer opportunity for brands in MENA
As marketplaces such as noon and Amazon vie for market supremacy across the region, there is another route for brands to reach their customers
5G
Technological advancements: How to ensure your team trusts its tech
Patrice Caine, CEO of global leading technology solutions provider, Thales, says only by addressing the doubt and uncertainty surrounding certain innovations will it be possible to restore people’s trust in new technologies
airlines operations
Indian airlines’ financial stress to worsen as flight bans continue
Indian airlines’ hopes for revival of international flight operations fizzled after the move on Tuesday by the UAE civil aviation authorities to further extend the ban on arrivals from India
Aviation industry
Etihad Airways official ‘hopeful’ over UK travel announcement
Martin Drew, SVP global sales & cargo, remains optimistic ahead of UK Prime Minister Boris Johnson updating country’s travel traffic light system
Coronavirus Pandemic
Dubai focusing on virus variants over ‘vortexes’ as Expo nears
The Expo, which Dubai has been preparing for a decade, is meant to be one of the biggest events globally this year and generate billions of dollars for the government
Day trading
Five tips for day trading beginners
New traders need to educate themselves on the markets, the trading techniques, the platform they will be using, and the risk management tools available
Arabian Business
AB Money Forum: Build your financial future
It is never too early, or too late, to take control of your financial future – whether you are a young high-flier planning to retire at 40 or are an expat family trying to build-up your pension pot
coronavirus
Oman extends Covid travel ban for certain countries ‘until further notice’
Egypt and Philippines added to the list of banned countries as confirmed cases in the Sultanate approach 198,000
cloud
How Infobip’s omnichannel solutions enable a successful digital customer experience
With these challenging economic times comes an excellent opportunity for customer-centric brands to differentiate themselves from competitors that refuse to adapt to a digital environment
Airports
Dubai’s dnata helping Singapore turn airport food waste into fish feed
Blue Aqua International will partner Dubai-based dnata, an air and travel services provider, to convert organic waste from its catering and ground handling operations at Singapore’s Changi Airport into insect protein for aquacultural use
coronavirus UAE
Almost 70% of eligible UAE population receives Covid-19 vaccination
Official spokesperson for the NCEMA, Dr Saif Al Dhaheri said that 10.7 million doses of the coronavirus vaccine have been administered across the country
Abu Dhabi
JPMorgan, FAB poised to win roles on IPO of Adnoc drilling unit
Adnoc is looking to sell a minority stake in its drilling unit in a deal that could value the business at up to $10 billion
Aviation
Russia, Iran in focus as Flydubai plans new routes
Low-cost carrier announces launch of additional flights as global network grows to more than 80 cities
Dubai Econony
Dubai ruler issues laws to restructure some gov’t entities
Sheikh Mohammed says new legislations aims to raise the efficiency of government institutions
Airports and Airlines
Middle East air passenger demand down 81% in March as Covid crisis continues
International Air Transport Association figures show slight improvement for region’s airlines compared to February