The IMF’s World Economic Outlook (WEO) projected that the economies of the Middle East and Central Asia will grow by 2.4% and 3.9% in 2024 and 2025, respectively
Author Archives: Staff Writer
DIFC
Dubai to give 100,000 startups a $100m boost with Ignyte digital platform: Sheikh Hamdan
Dubai digital platform Ignyte will deliver $100m of perks to startups and entrepreneurs
Bitcoin
Abu Dhabi to host Bitcoin MENA conference in December
Abu Dhabi will bring together leading experts to discuss Bitcoin industry in the Middle East
Arada
Arada launches $1.4bn Dubai Harbour W Residences branded real estate project with over 400 apartments now on sale
Arada and Marriott International launch sales of 400 apartments at Dubai Harbour branded residences
Arab businesswomen
UAE leads way for women in business in the Middle East
UAE is taking significant strides in advancing the role of women in business in the Middle East
FlyDubai
Flydubai announces new flights to Bhairahawa, Nepal
UAE to Nepal connectivity boosted by new Dubai to Bhairahawa flights
Al Marjan Island
Dar Global appoints Stomek as foundations contractor for The Astera in Ras Al Khaimah
The $245 million project in Al Marjan Island will feature interiors designed by iconic British carmaker Aston Martin
Global Competitiveness Report
UAE jobs market leading the world as unemployment protection, end-of-service benefits and stability attract top talent
The UAE labour market leads the world in numerous competitiveness indicators and Dubai and Abu Dhabi considered top cities to work in
Brand View
With 72mn minutes of care, Labayh and TikTok are making mental health a conversation that can’t be ignored
Labayh’s impact on TikTok goes far beyond simple metrics—it’s about creating a real shift in how mental health is perceived and discussed in the region
CBRE
Dubai real estate: Average property prices jump 20% in a year as Q3 sales pass $32bn; office, retail and industrial rents in focus
Dubai residential real estate sales prices and volumes increased in 2023 said CBRE Middle East as it also examined office, retail and industrial property trends
FATF
Lebanon set to be added to FATF financial crime watchlist this week, say sources
The move comes despite requests from Lebanese officials for leniency
Agriculture
UAE’s Al Dahra plans to expand its business in Egypt
It discussed future investments in a meeting with Egypt’s Minister of Investment and Foreign Trade
GCC IPO activity
Gulf IPOs raise $1.7bn in Q3, UAE sees largest offering for NMDC Energy
IPOs in the GCC have raised $5.2bn in the first nine months of this year, according to Markaz research
Air travellers
Saudi Arabia’s airports see improved traveller experience in GACA’s latest performance report
King Khalid International Airport in Riyadh topped the list with a performance rate of 82%
Aviation
TECOM completes acquisition of Office Park in DIC for $196mn
The Group has now made a total investment of over $720 million in commercial and industrial assets in 2024
Blockchain
Emirates NBD partners Partior for cross-border payments
UAE bank also evaluating an equity investment in the company, known for their blockchain-based platform for clearing and settlement
Kuwait
Kuwait reopens work visas to support short-term government projects
The initiative aims to enhance flexibility within the labour market and streamline the completion of short-term projects
Brand View
Elif Aral: Driving equitable healthcare in the region
Healthcare is a universal right, not a privilege
Abu Dhabi
Finance House to inject AED 300mn into Abu Dhabi’s ADX for market liquidity
The move is aimed at boosting liquidity and market stability
Air India
Air India offers value, classy and flexi fares across classes in enhanced fare categories
The new fare families offer increasing baggage allowance and flexibility in terms of cancellation and date changes for a nominal upsell value
automobile industry
India’s largest IPO disappoints on listing; fails to give gains on opening day
Hyundai Motor India shares listed on bourses on Tuesday at a 1.5% discount to their issue price of INR 1,960
Dubai real estate
Dubai real estate sector logs record 18,038 transactions in September with 73% for off-plan properties; sales range from $34,000 to $75m
Dubai real estate sector sees record number of transactions with sales split between $34,000 and $75m
Dubai Holding
Dubai Holding Asset Management rebrands residential leasing portfolio housing over 150,000 residents
Following the integration of Nakheel and Meydan into Dubai Holding, Dubai Residential’s reach has expanded to include 40,000 homes and over 150,000 residents
Abu Dhabi real estate
Abu Dhabi real estate: Modon launches Maysan development in Reem Island
Abu Dhabi real estate developer Modon has announced more than 300 new homes at new project on Reem Island
Dubai Industrial City
Scoop: Ice cream giant to invest $21.8m in Dubai Industrial City factory
Pure Ice Cream announces frozen asset as it looks to create tub hub at Dubai Industrial City
global health
Global Health Exhibition 2024 kicks off in Saudi Arabia with $13.6bn of deals
Saudi Arabia’s Ministry of Health announces major healthcare investments at Global Health Exhibition 2024 in Riyadh
Japan
Tadweer tours Japan to learn waste management techniques
Tadweer visits Japan to learn advanced waste management techniques
hapondo
Qatar real estate: Where are rents rising and falling the most in Q3?
Qatar has seen fluctuations in rent prices in Q3 according to hapondo analysis
Abu Dhabi
Aldar and Mandarin Oriental bring branded residences to Abu Dhabi
228 luxury residences to be built on Saadiyat Island, featuring stunning views of the Arabian Gulf and Zayed National Museum
Aramco
Aramco boss calls for new energy transition plan to recognise Asia’s needs; $200tn spend required
Aramco CEO says Asia and Global South should have more say in global energy transition needs
Brand View
A complete guide to digital marketing for Dubai companies
Dubai’s competitive market requires businesses to maintain a strong online presence to reach both local and international customers
Dubai real estate
Dubai real estate market to add 90,000 new homes in 2 years; fastest-growing areas revealed
Dubai’s growth is supported by a real estate pipeline expected to see 90,000 new homes enter market in next two years
Al Khail Road
Dubai completes Al Khail Road upgrades; journey times slashed 30%, 5 new bridges built in traffic boost for 1.5m people
RTA has finished Al Khail Development Road Project in Dubai in a travel boost for 1.5m people
Dubai
Affordability and appreciation driving Dubai’s off-plan property market
Imobiliare Dubai’s Oliver Mitri also points out investors’ interest in new localities like Dubai South and Expo City, and favourable government policies
QS Quacquarelli Symonds
Revealed: Best 50 Arab universities; Saudi, Qatar and UAE institutions top list
The best universities in the Arab world have been named in prestigious Quacquarelli Symonds ranking
China
China’s central bank cuts key interest rates to record lows, aims to boost sluggish economy
The one-year Loan Prime Rate was cut from 3.35% to 3.1%, while the five-year LPR was cut from 3.85% to 3.6%
Abu Dhabi Securities Exchange
Lulu Retail to offer 25% stake in IPO scheduled for 28 October
2.582 billion shares being offered; Price range to disclosed on 28 October; Shares expected to list at ADX on 14 November
global economy
World’s $100tn fiscal time bomb keeps ticking, cautions IMF
The warning note comes as ministers and central bankers gather in the US capital city for the IMF’s annual meeting, commencing on Monday
Consumer Engagement
Customer engagement platform Braze ramps up Middle East operations
Braze appoints former AWS executive Sharif Kotb as Area Vice President for GCC
F&B brands
Iconic lifestyle brand EL&N London opens first Indian café in Mumbai’s Jio World Plaza
The new Mumbai café will introduce the vibrant spirit of London to India’s growing base of discerning consumers, combined with fashion-forward design and high-quality speciality coffee offerings
BRICS
UAE President meets Russia’s Putin in Moscow ahead of BRICS summit
The UAE President’s visit precedes the highly anticipated BRICS summit, scheduled to take place in Kazan, Russia from Oct 22-24
India
Indian retail group demands antitrust probe of quick commerce companies Swiggy, Blinkit, Zepto
The probe is sought for alleged predatory pricing
air cargo
Dubai’s Emirates expands fleet with five Boeing 777 freighters
In addition to new freighter purchases, Emirates is continuing its strategy of converting ten Boeing 777-300ER passenger aircraft into freighters, further boosting capacity
AB Majlis
AB Majlis podcast: The Gulf’s women leaders are rewriting the rules of business, says Emma Burdett
Her insights on the show painted a picture of a region on the cusp of change in female entrepreneurship and leadership
private school
Saudi Arabia launches unified electronic contract to register students in private schools
According to the new unified contract regulations, students who have failed to pay their fees will not be prevented from attending classes, as this is a basic right
mining
Saudi Arabia short-lists 6 companies in the first batch for exploration enablement programme
The programme attracted interest worldwide, with companies proposing innovative exploration ideas that align with the EEP’s objectives
Saudi railway
Saudi Arabia to impose up to SAR10mn in fine for violating Railway Law
In the event of repeated violations, a maximum fine of SAR20 million will be slapped on the violator
Dubai real estate
Dubai real estate developer launches Jumeirah Garden City project ahead of $272m portfolio investment
Jad Global launches 171 Garden Heights as it prepares to invest $272m in Dubai real estate projects
Bangladesh
Saudi Arabia tests skills of expat workers from India, Pakistan, Egypt, Bangladesh and Sri Lanka; 209,500 workers accredited in job scheme
Saudi Arabia’s Professional Accreditation Program aims to enable employers to assess their workforce
PIF
Saudi Arabia’s PIF forms new property developer to construct staff accommodation complexes
PIF creates new developer to build and operate staff accommodation for major real estate project construction projects in Saudi Arabia
Al Qudra
Sheikh Hamdan announces $106m Dubai rural development investments with outdoor cinema, luxury camping, new cycle routes, kayaking, hot air balloons hiking trails and safaris
Sheikh Hamdan has announced the Dubai master plan for the Saih Al Salam Scenic Route with significant investment in rural tourism activities and facilities
Dubai Land Department
Dubai real estate sector recorded $4.8bn of transactions last week, including $28m Dubai Marina apartment
The Dubai real estate sector saw $4.8bn of transactions last week
border regulations
Saudi Arabia arrested over 21,900 last week in residency and labour operations
Saudi Arabia announces more than 21,900 arrests in a single week as it clamps down on residency, labour and security breaches
Abu Dhabi real estate
Abu Dhabi real estate: Best returns on investment, most popular neighbourhoods, fastest-growing property prices in Q3 revealed
Bayut analysis identifies the best neighbourhoods for return on investment in Abu Dhabi