Empower plant

Shareholders of Dubai’s Empower approve $116m dividend

The company’s full-year net profit jumped by 7 per cent year-on-year to Dhs1bn in 2022 while its revenues reached Dhs2.8bn

EY projects $42.2bn boon to UAE economy from Expo 2020 Dubai

The pre-event phase contributed around one-quarter of gross value and the legacy phase will add 62 per cent

UAE reduces fuel prices

UAE reduces fuel prices for April

The fuel price committee marginally slashed the rates by 8 fils per litre, after two consecutive months of increases

Dubizzle owner mulls UAE IPO

Dubai-based owner of Dubizzle mulls UAE IPO

Emerging Markets Property Group is set to hire Rothschild & Co. for the potential IPO in Dubai or Abu Dhabi

Sheikh Hamdan launches create apps in dubai photo courtesy WAM

Create Apps in Dubai launches, aims to triple number of app creators by 2025

The initiative aims to support 100 new national projects for developing apps that will be made available in digital app stores over the next 24 months

Wio Bank new partnership

ADQ-backed Wio Bank, Paymentology partner to enhance SME banking

The digital bank offers SMEs seamless access to banking services while allowing them to move forward with innovative beyond-banking services

DFM and Dubai Chamber

DFM, Dubai Chamber of Commerce partner to boost IPOs

The two entities have partnered with advisory firms that are a key part of the city’s financial and business ecosystem

ADNOC GAS processing tanks

ADNOC Gas’ annual pro forma net profit surges by 37%

The company’s unaudited combined pro forma results follow the company’s record initial public offering earlier in March

Aldar and Mubadala to work on developing Al Maryah Island Photo

Aldar Properties, Mubadala to jointly develop commercial tower on Al Maryah Island

Upon completion of the initial office tower’s construction, which is expected by the end of 2026, the property will be managed by Aldar Investment

Schengen visa application

EU inches closer to digitalise Schengen visa procedure

The proposal aims to make the visa application procedure more efficient and to improve the security of the Schengen area

QatarEnergyssigns two offshore explorations deals in Canada

QatarEnergy acquires stakes in two Exxon oil and gas projects in Canada

The company first entered offshore exploration in Canada in 2021 with a 40 per cent stake in ExxonMobil’s licence for EL 1165A

Sheikh Mohamed-bin-Zayed of Abu Dhabi -e1652520014895

UAE President names new Vice President, Crown Prince of Abu Dhabi

Sheikh Mansour Bin Zayed Al Nahyan will serve as UAE Vice President alongside Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President and Prime Minister, and Ruler of Dubai

Bahrain GDP 2022 growth. Image by EDB

Bahrain’s economy expands by 4.9% in 2022, the fastest in a decade

The country’s non-oil sector grew by 6.2 per cent in 2022, the highest growth rate recorded over the past ten years

UAE Minister of State for Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi

UAE, Costa Rica to launch free trade talks

The CEPA programme was launched in September 2021 to expand UAE’s trade and investment partnership with several strategic global markets

11-year-old Dubai-based coder

Dubai-based 11-year-old girl develops app that detects eye diseases

The 11-year-old girl’s mobile app can analyse various parameters such as light and colour intensity to locate the eyes within the frame range

Borouge building material

Borouge supplies materials worth $26.5m to mega projects in MEA

The company’s materials contribute to reducing carbon emissions generated during the manufacturing process of the pipes and their operational lifespan

Aramco Rongsheng deal

Saudi Aramco bolsters China investments with $3.6bn refinery deal

The state-owned oil major said the deal includes the supply of 480,000 bpd of crude oil to Rongsheng refinery for 20 years

Presight AI debuts on ADX

Presight AI surges 176% in Abu Dhabi debut after $496m IPO

The data analytics firm’s shares shot up as much as 176 per cent to Dhs3.70 compared to the IPO price of Dhs1.34 apiece

Aldar unveils the Source

UAE’s Aldar Properties unveils homes dedicated to health and wellbeing

Construction of the project is set to start in the last quarter of 2023, with handovers projected for Q3 2026

Mohamed Ali Al Ansari - Group Chairman of Al Ansari Financial Services

Al Ansari Exchange raises Dhs773m in IPO, attracts bids worth Dhs12.7bn

The company sold 750 million shares and set the final share price at Dhs1.03, implying a market capitalisation of Dhs7.73bn at listing

Aramco, HAPCO JV

Aramco, China JV to start work on petrochem complex

The state-owned oil giant will supply up to 210,000 bpd of crude oil feedstock to the complex, which is being built in China’s Liaoning province

DP World Logistics Container

DP World’s investments top $10bn in past decade

The company’s investments in 2022 totalled $320m despite slowing demand for logistics services due to the global economic challenges

shipping service

AD Ports Group introduces new shipping service to Kuwait

The service aims to improve commercial connectivity and facilitates trade with Kuwait

NEOM Airlines launched

New Saudi carrier: NEOM Airlines to launch in 2024

The airline will be focused on enabling travel for tourists, residents and commercial partners to and from NEOM


Aramco, Samsung sign MoU, will leverage 5G tech

The non-binding MoU aims to contribute to the digital transformation of various industrial sectors in Saudi Arabia

CBUAE's CBDC strategy

CBUAE unveils Central Bank Digital Currency strategy

The first phase of CBUAE’s CBDC strategy is expected to complete over the next 12 to 15 months and comprises of three major pillars

NEOM Bay Airport contract

Saudi Arabia’s NEOM awards contract for international airport

The contract’s scope includes project management for master planning, design and construction services, through to testing, commissioning, operational readiness, activation and transition

AD Ports partners with Egypt’s SCZone

AD Ports, Suez Canal Economic Zone partner to develop projects in Egypt

The ports operator will develop projects in the ports of East Port Said, West Port Said and Al Areesh

ADQ AgTech Park commences operations with vertical farming project

ADQ’s AgTech Park begins operations, launches vertical farming project

At full scale, the 200-hectare AgTech Park will target production volumes of over 40 kilotonnes of fresh fruits and vegetables annually