Hub71’s head of strategy said that startups are more agile than traditional firms and can adapt quickly to face economic headwinds
Author Archives: Staff Writer
OPEC+ confident of gradually easing production cuts without hurting prices
The recovery in global fuel consumption depends on major economies continuing their emergence from lockdown
Saudi Aramco joins Exxon, BP, Shell in starting to curb own emissions
Achieving the target by 2025 will remove as much as 52 million tons of carbon dioxide per year, equivalent to the total emissions from about 6 million
Booking required for laser-based Covid-19 testing at Abu Dhabi-Dubai border
Test costs AED50 and is now available at the last exit on Sheikh Zayed Road before the Ghantoot checkpoint
Twitter accounts of Apple, Musk, Gates, others hit in major hack
The site Blockchain.com said a total of 12.58 bitcoins, worth almost $116,000, had been sent to the email addresses mentioned in the fraudulent tweets
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Kuwait Zain telecom Q2 net profits slide over pandemic
Zain recorded a 28-percent drop in net profits in the second quarter
UAE health ministry reports 275 new cases, no deaths
Ministry conducted over 48,000 additional Covid-19 tests during past 24 hours
DP World lists $1.5bn sukuk on Nasdaq Dubai
Sukuk listings on Nasdaq Dubai have totalled $11.4 billion this year
Sheikh Hamdan reveals reasons behind Mars Hope mission
Mars Hope probe to Red Planet took 5.5 million hours of work from a team of 200 Emirati engineers to develop
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Emirates adds two countries to list where passengers need negative Covid-19 cert
Sudan and Nigeria added to list of countries where passengers require a Covid-19 negative PCR test certificate before boarding
Kuwait’s Jazeera Airways to resume flights to 20 destinations
The schedule includes daily flights to Dubai, as well as twice-weekly flights to Riyadh and Beirut, three times weekly flights to Amman and a number of flights to Istanbul
The Entertainer launches new UAE food delivery app
Restaurants in Dubai pleaded with aggregators during Covid-19 to drop rates to help F&B operators survive
Aramco chemicals deal delay hits Reliance Industries shares
Reliance shares fell 3.9% in Mumbai, the biggest drop since May 14
Discounts of up to 80% for Abu Dhabi shoppers in new retail campaign
‘Unbox Amazing’ campaign includes promotions, special deals and prize giveaways
Google to buy $4.5bn stake in digital unit of India’s Reliance
Major players including Facebook, Intel and others have already ploughed some $15 billion into Jio Platforms this year
Majid Al Futtaim reveals plans to ramp up Carrefour’s online presence
Carrefour’s online sales increased by 300% in the UAE and by 100% in Saudi Arabia during the Covid-19 lockdown period
Etihad Airways adds 14 more destinations to hand-baggage only fare deal
Offer allows travellers to purchase lower fares in Economy Class if no checked baggage is required
Emirates airline returns A380 to the skies
Emirates fleet of A380s has been largely grounded for nearly four months
Startup funding in Saudi Arabia surges 102%, new data shows
Total funding in Saudi Arabia has grown considerably faster than the average across the Middle East and North Africa
Abu Dhabi’s UFC Fight Island rakes in 1.3m pay-per-view buys
UFC 251 showpiece attracts biggest television audience since October 2018
India expected to enter into ‘air bubble pact’ with UAE soon
Carriers from both countries are to be allowed to resume scheduled flights in a limited way to select cities in both countries
UAE Hope Probe launch postponed again due to weather in Japan
The mission has a launch window that lasts through August 13
UAE to present case to ICAO over airspace dispute
International Court of Justice has given ICAO jurisdiction to rule on case with Qatar
Moderna Covid-19 vaccine enters final stage trial this month
Moderna is considered to be in a leading position in the global race to find a vaccine against the coronavirus
OPEC sees demand for its crude above pre-virus levels in 2021
OPEC and its allies are cutting production to clear the glut left behind by the Covid-19 crisis and prop up prices
UAE completes Unit 2 of Barakah Nuclear Energy Plant
As a whole, the Barakah plant is now 94% complete
Coronavirus: UAE reports 375 new cases, one death
Ministry of Health has carried out over 52,000 coronavirus tests in the past 24 hours
Dubai rents drop by almost 15% in Q2, further declines expected, say Chestertons
Sales prices and rent to decline further in H2, according to latest Chestertons report
Brand View
HP setting the tone for sustainability
Global manufacturer proving saving the environment can also have savings on the bottom line
Saudi stock market sees IPO activity returning after Covid-19 slump
CEO Khalid Al Hussan said there are as many as 10 companies planning initial public offerings on the Tadawul
Majid Al Futtaim to open 15 Carrefour stores in GCC by end of 2020
Supermarket giant Carrefour has target to open 50 stores in total throughout this year
Tadawul to launch exchange-traded derivatives on August 30
As part of the announcement, the Securities Clearing Center Company – also known as Muqassa – announced that it will commence operations on August 30
Dubai launches new policy to regulate jointly-owned properties
Measures designed to address any potential conflicts of interest
Bahrain to add $470m into budget to address Covid-19 economic impact
Emergency funding has been announced by King Hamad bin Isa Al Khalifa
Kuwait to resume Friday prayers in mosques
Prayers in mosques have been banned for four months in the country to curb the spread of Covid-19
Jafza reports 10.6% increase in retail, e-commerce business
First five months saw a 300% increase in consumer demand for e-commerce services in the UAE
Ample opportunity for Middle East investors despite gloomy predictions, say VC experts
Prince Khaled bin Alwaleed bin Talal and Fadi Ghandour said investors are still seeing opportunities
US tech firm turns Dubai desert air into bottled water
Zero Mass Water, will use renewable energy instead of the fossil fuels that power the many desalination facilities in Dubai and the rest of the United Arab Emirates
Apple close to overtaking Saudi Aramco as world’s most valuable company
Apple gained as much as 4.2% on Monday for a market capitalisation above $1.70 trillion
Etihad Airways partners with Mediclinic to provide Covid-19 home-testing
Passengers book the service directly with Mediclinic
New laser-based technique to test people entering Abu Dhabi for Covid-19
An Emirati invention the DPI technique was developed by Abu Dhabi-based QuantLase Imaging Lab
Virus-hit UK economy shrinks 19% in three months to May
The economy remains about 24.5 percent below its size in February before the pandemic spread
UAE’s Mars Hope probe launch postponed until Friday
The mission has a launch window that extends through August 13
Bahrain’s Investcorp sells $200m of US industrial real estate
Investcorp ranked as the second largest international buyer and fourth largest international seller of US real estate last year
Saudi Arabia launches $178m loan deferral programme for businesses
A total of 192 companies that employ more than 20,000 Saudis will benefit from the programme
Covid-19 brings plans for Kuwait solar plant to a halt
The Al-Dabdaba plant would have provided approximately 15 percent of the electric needs of Kuwait’s oil sector
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UAE ready to make history with launch of Mars ‘Hope’ mission
‘Hope’ – or Al-Amal in Arabic – is expected to reach Mars’s orbit by February 2021, marking the 50th anniversary of the unification of the United Arab Emirates
UAE approves next phase of clinical trial for potential Covid-19 vaccine
Studies to be carried out on two types of vaccinations involving more than 15,000 volunteers
Takeover of Beziers rugby by UAE-based investor falls through
Sotaco, the investment group representing the prospective owner, issued a press release saying they had tried to comply with French rugby’s financial watchdog
CAS ruling out the way, Champions League dream now the focus for Man City’s owners
Manchester City’s transformation from Premier League also-rans into a European force over the past 12 years has been remarkable
Dubai Chamber launches online marketplace for businesses buying-selling PPE products
Dubai Chamber said businesses can use the marketplace to reduce costs when buying PPE and generate new leads
Middle East ‘ripe’ for new unicorn start-up
The Middle East and North Africa has seen a $659 million investment boom during the Covid-19 pandemic
Dubai’s Majid Al Futtaim opens largest Carrefour online fulfilment centre
Five thousand square metre centre build in five weeks to cope with demand from online shopping
Gas leak at Dubai restaurant destroys two shops
No injuries were reported in the incident