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Revealed: Dubai’s biggest foreign trade partners during the first nine months of 2019

The emirate’s non-oil foreign trade grew 6 per cent to cross Dhs1 trillion between Jan-Sept

Dubai’s Emaar denies reports that it is selling Burj Khalifa observation deck

The company said it is considering a transaction wherein financing is being raised against the cashflows of the observation deck

UAE’s Sheikh Sultan appointed to the board of global esports body IESF

The International Esports Federation is also expanding into the Middle East

UAE’s Etihad Rail awards Dhs4.6bn contract for next stage of national railway network

The new rail line will link the ports of Fujairah and Khorfakkan to the network at the Dubai border with Sharjah

UAE’s central bank does not endorse private cryptocurrency trading platforms

The bank added that it believes that private cryptocurrencies pose potential risks related to price volatility, money laundering and terrorist financing

Dubai’s flydubai leases Boeing 737-800s ahead of busy travel period

The leased aircraft will operate on select routes including Bahrain, Colombo, Faisalabad, Karachi, Kuwait, Muscat, Multan, Prague and Sialkot

Dubai’s Emirates to launch fourth daily service to Bangladesh’s Dhaka

The new service will be operated by a Boeing 777-300ER in a two-class configuration

OPEC+meeting

OPEC’s flaring political crises add new risk for oil supply

OPEC and its allies — who together pump about half the world’s oil — will meet in Vienna in early December

Lebanese banks agree on joint measures to address crisis

Banks agreed to lift a restriction on new money coming from abroad and set a withdrawal limit of $1,000 a week for accounts denominated in foreign currency

UAE nationals to get visas on arrival at six Indian airports

The facility will only be extended to those UAE nationals who have previously obtained either an Indian eVisa or a regular visa

New trade routes: Scramble for the Arctic

Thawing ice caused by climate change could lead to big changes for trade. But not everyone is warming to the idea

Oman’s National Gas Company terminates CEO

Omani officials dismiss media reports, say no change in tourist visa policy

The clarification follows media reports suggesting a change in Oman visa issuances
 

Dubai Parks and Resorts operator reports nine-month loss, aims to breakeven in 2020

Revenues fell by 15.8 per cent during the first nine months on the back of an 8 per cent drop in visitors

International Esports Federation to expand into the Middle East

The regional Esports segment has seen strong growth in recent months

Oil could head below $50 without deeper supply curbs by OPEC+

The prospect of oversupply looms over the market in 2020, says experts

What is the future of food imports in the GCC?

Live sheep are again being sent by boat from Australia, and bird flu fears remain an ever-present threat to the chicken supply

New Etihad-Air Arabia low cost airline aims to fill India void

The future carrier will take over most of the 100 slot pairs for the market held by Etihad after ally Jet failed this year

Iran adds advanced centrifuges in further weakening of nuclear deal

Iran has been scaling back its compliance to 2015 deal since May after US President Donald Trump unilaterally left the accord last year

Abu Dhabi plans futures trading for its main oil grade

ADNOC will lift destination restrictions on the sales of Murban crude futures

Saudi to levy new airport tax from 2020 – reports

The new charge will be imposed on passengers travelling on domestic routes

Saudi energy manufacturing sector to create jobs, strengthen country’s exports – report

A majority in the survey conducted felt that energy manufacturing should be a shared responsibility of the government and private sector

Dubai’s Emirates NBD appoints new CFO, reports 63% rise in nine-month profit

The bank had announced in April that the outgoing CFO Surya Subramanian will return to Singapore to pursue family interests

Trump says ISIS chief Al-Baghdadi killed in US raid

No US personnel were lost in the operation, while “many” of al-Baghdadi’s fighters or companions were killed with him

UAE telco Etisalat reports flat net profit in Q3

Telecom’s aggregate subscriber base reached 148 million

Abu Dhabi Ports starts work on waterfront project Marsa Mina

Marsa Mina will feature a mix of food trucks and retail concepts, family entertainment, playgrounds and open seating areas

Dubai Parks and Resorts reports 20% drop in Q3 visits

The decline was primarily due to a drop in resident visitor numbers

Etihad, Air Arabia to launch Abu Dhabi’s first low-cost carrier

The new airline, called Air Arabia Abu Dhabi, will have its hub at the Abu Dhabi International Airport

The rise of sports tourism in the Middle East

A number of high-profile sporting events in the region could just be the beginning for a booming industry

Dubai’s non-oil foreign trade surges in first half of 2019

Non-oil foreign trade is up five per cent compared to the same period in 2018 – and 87 per cent since 2009

Rothschild, Moelis compete for $15bn Binladin debt revamp

The boutique banks made pitches to Saudi Binladin Group last month for what would be one of the Middle East’s biggest debt revamps