Adnoc Distribution, which manages 379 retail fuel stations in the UAE, reports 6.6% increase in first quarter net profit
Author Archives: Staff Writer
Abu Dhabi National Oil Company
Abu Dhabi launches round 2 bids for oil, gas resources
Abu Dhabi National Oil Company announces details of the second round of five new geographical oil and gas blocks open for bidding
Abu Dhabi Commercial Bank
New UAE banking group unveiled with $115bn assets
ADCB Group starts operations following the merger of Abu Dhabi Commercial Bank and Union National Bank and acquisition of Al Hilal Bank
Hyundai Engineering
Kuwait inaugurates 36km causeway to free trade zone
Jaber Bridge connects Kuwait City to the northern desert area of Subbiya, where Kuwait aims to create the Silk City project
Adel Ali
Air Arabia looks to Airbus, Boeing as it eyes 100 new planes
A decision on new planes will be taken in the next three or four months, according to Air Arabia CEO Adel Ali
Aramex
Currency fluctuations hit Q1 net profits of Dubai’s Aramex
Dubai-based logistics giant Aramex says business continues to benefit from growth in global e-commerce volumes
Dubai private sector
Ramadan working hours revealed for UAE private sector
UAE Ministry of Human Resources and Emiratisation says working hours during holy month will be reduced by two hours for private sector
Abdullah bin Nasser Al-Dawood
Revealed: plans to transform Saudi’s Eastern Province into leisure hub
Saudi Entertainment Ventures unveils plans for amusement park, cinemas, entertainment destinations in Eastern Province cities
Amazon.ae
Souq to take cautious approach to launching Amazon in Saudi Arabia
The name change does not affect Souq’s regional identity, says founder
Beaver Gulf
Margins dropping for Dubai contractors, says Beaver Gulf boss
Dropping margins are making contractors in Dubai more selective about the projects and clients they engage with, according to the boss of one firm
crude oil
India reports robust growth in trade with Gulf region
India’s widening gap in imports and exports in the GCC market is due to the rising import bill of crude oil from countries such as Saudi Arabia and UAE
air quality
Dubai plans to double green areas within 5 years – report
Dubai Municipality planted 50,000 trees in Dubai last year, planning a big new park
Al Fahim Group
German chauffeur service Blacklane eyes Middle East expansion in line with IPO
Shareholders Abu Dhabi-based Al Fahim Group will take part in financing the $10-$20m expansion plan ahead of floatation over next three years
Dubai
Malaysia aiming to earn $2.4bn from Expo 2020 Dubai
The Southeast Asian country is planning to spend $14.5m participating in Expo 2020 Dubai
Airbus A320neo
Flynas eyes upgrade to its Airbus A320neo order
Flynas also planning a possible Africa, Balkan hub
Abu Dhabi
Radisson to open eight hotels in Saudi Arabia and UAE this year
Radisson Hotel Group plans to double its MENA portfolio over the next five years
Arabian Travel Market
Emirates airline expects ‘positive year’ despite headwinds, says Sheikh Ahmed
Sheikh Ahmed said he would like to see oil prices ‘below $60’
Bur Dubai
Person who uploaded viral video of valet worker on car bonnet arrested, says Dubai Police
Taking photos or videos of others is against UAE law and may attract a fine of up to $136,000 and a minimum of six months in jail
Abraaj Group
From DNA to electronic tagging: Terms of Abdel-Wadood’s $10m bail package
US Attorney’s Office said former Abraaj executive remains under home detention at a Manhattan apartment
Arab world
59% of Arab youth view the US as an ‘enemy’ since Trump was elected – survey
Two-thirds of Arab youth viewed Iran as the region’s biggest enemy
Abraaj
Abraaj collapse ‘version two’ of Lehman Brothers, says Air Arabia CEO
Of all publicly listed UAE companies, Air Arabia had the latest exposure to Abraaj
Amazon.ae
Dubai’s Souq relaunches under Amazon brand
Souq.com still available in Saudi Arabia and Egypt
digital tax stamps
UAE to ban imports of unmarked cigarettes from May 1
Imports of cigarettes into the UAE that do not bear the Digital Tax Stamps will be prohibited from Wednesday
Arabian Travel Market
Why $25bn tourism sector can become Saudi Arabia’s ‘white oil’
Tourism will play a major role in reducing Saudi Arabia’s dependence on oil revenues, say hospitality experts
Alibaba Group
AliExpress to launch Ramadan sale for UAE, Saudi Arabia
Campaign offers up to 50% discount on over 100 million products
Artificial intelligence
5 ways your job will be reimagined in 2030
Brand View: A recent survey found that 60% consider AI to be only an opportunity, not a risk, for their business and 23% believe AI already has a large impact on their organisation
Alpha Destination Management
Alpha Pass launched to save up to 45% on Dubai tourist attractions
Alpha Destination Management has announced the launch of the Alpha Pass that will allow tourists to see the best of Dubai for cheaper
Careem
Dubai ruler approves raft of major projects for the future
Sheikh Mohammed approves new projects including the Sky Garden, bicycle lanes and promenades at Sheikh Zayed Road, Umm Suqeim and Jumeirah Beach
Dubai
New Dubai Creek Harbour waterfront homes revealed
Creek Edge, which is located on the northern tip of Creek Island, comprises two towers of 40 and 20 storeys
Abu Dhabi Media
Abu Dhabi Media plans first artificial intelligence news anchor
Abu Dhabi Media signs deal with Sogou Inc, a Chinese internet industry company to develop Arabic and English AI news anchor
Arab world
1 in 3 Arab youth believe gov’t should pay off their debts – survey
Over half of youths believe the rising cost of living is the biggest challenge facing the Middle East today
Dubai Expo 2020 Bureau
Thailand breaks ground on Expo 2020 Dubai pavilion
Construction starts on Thailand pavilion which will be located in Expo 2020’s Mobility District
Non-oil GDP
Sharjah’s non-oil GDP exceeds $24bn in 2018
Sharjah Economic Development Department report says non-oil sectors account for 91.9% of the emirate’s total GDP
Bahrain Investcorp
Bahrain’s Investcorp buys US properties in $170m deal
Investcorp has acquired about $2bn of US real estate through 21 deals over the past 18 months
Alex Kyriakidis
Marriott inks deal to return Sheraton brand to Saudi holy city
Set to open in 2023, Sheraton Taiba Hotel, Madinah will comprise 268 rooms
Aviation
Bahrain’s Gulf Air inks key deals during royal visit to France
Gulf Air, the national carrier of Bahrain, signs agreements with French-based companies including a $1bn deal for engines
Samsung
Samsung denies new Galaxy phone burnt from malfunctioning
Samsung stands by its new Galaxy S10 5G model after a South Korean smartphone owner posted pictures online of a charred handset
aircraft technical issues
Dubai-bound passengers delayed by 14 hours in India
Technical issue led to delay for SpiceJet passengers flying from Pune, Maharashtra
Bangkok
Netflix to serialise Thailand cave rescue that gripped the world
Financial details weren’t revealed, though earlier local reports said the soccer team members would each get $94,000 for the rights.
ADNOC
Abu Dhabi said to weigh multi-billion dollar gas pipeline deal
Adnoc is speaking to financial advisers about bringing in international investors for the pipelines, which could help raise $5bn or more
Dubai
Halal travel agency Rihaala launches in Dubai
The online booking portal will also specialise in customised Umrah travel
Boeing
Facebook, Boeing stocks most popular in MENA in Q1, 2019
Saxo Bank revealed the five most traded stocks around the world
Home loan
Saudi bank mortgages tripled in Q1
The size of funding also grew 133% compared to the same quarter last year
aircraft manufacturer
Boeing ‘sorry’ for Flydubai 737 Max groundings
Boeing spokesperson said the company is working on earning the trust of its customers around the world and working to ensure the 737 Max returns to the skies
customer service
UAE fines 9 government service centres for poor performance
Move follows Sheikh Mohammed’s investigation into poor service at an Emirates Post branch last week
Airbus
Airbus earnings jump on higher output of A320s – rival to Boeing’s 737 Max
Airbus delivered 162 aircraft, including 126 A320s, a model that appears to have overcome a run of engine manufacturing faults just as the Boeing 737 faces questions
Arabian Travel Market
Jumeirah Group to open five hotels in Europe and Asia
CEO Jose Silva said Jumeirah Group’s hotels have an occupancy rate in the mid-70s – a decrease from a previous rate in the 80s.
![“The contrast [between the UAE and Lapland] is drawing people there. The Northern Lights are a beautiful phenomenon,” Joonas Halla, Business Finland’s PR and media manager for the UAE.](https://www.arabianbusiness.com/wp-content/uploads/sites/3/cloud/2021/09/16/rHpcNmTp-finland-northern-lights.jpg)
Arabian Travel Market
Flydubai’s new route sees UAE visitors to Finland jump 20%
Nearly 12,000 UAE visitors arrived in Finland in 2018
Abraaj Group
Former Abraaj exec granted $10m bail bond in New York
Mustafa Abdel-Wadood was placed under house arrest at a New York apartment
Samsung
Samsung Electronics hit with quarterly profit slump
Samsung made a high-profile decision to delay the release of its $2,000 foldable smartphone last week
Alphabet
Google advertising revenue growth slows, triggering share slump
Google’s search engine is coming under growing pressure Amazon.com battle for consumers looking for products
Airbus A380
Emirates maps out a new route network without the A380
Emirates president Tim Clark said the Dubai carrier may add more ‘fifth freedom’ flights to the US
aircraft manufacturer
Boeing CEO defends 737 Max software system as grounding drags on
Boeing CEO Dennis Muilenburg refused to concede that the so-called MCAS software was defective and said Boeing followed appropriate protocols in designing it
Arab world
Opinion: Arab youth struggle with religious values and institutions trapped in the past
Young Arabs remain attached and devoted to their faith despite being unconvinced of some of the inherited thoughts and religious strictures, writes Dr Mohammad Shahrour