stock markets

Citigroup sees strong Middle East IPO pipeline running into 2024

IPOs in the Middle East have fetched $5.1bn so far this year, exceeding volumes seen during the same period in nine of the last 10 years

climate

Temperatures in Saudi Arabia, Kuwait hit 50C

Saudi authorities reported that temperature would continue to rise and remain high in the Eastern Province and parts of the central region

Aldar Properties’ Q2 2023 profit jumps 52 to 354m

Aldar Properties’ Q2 2023 profit jumps 52% to Dhs1.3bn

The property giant’s development sales hit a record Dhs11.6bn in the three months to June 30, with 10 new project launches a year to date

ADNOC updates carbon emission target to 2045

UAE’s ADNOC sets ambitious emission target ahead of COP28

The company’s ambitious emissions target makes it the first in its peer group to accelerate its net zero target to 2045

Reconciling human progress with environmental protection byPascal Grante, Chief Executive Officer, Veolia Near and Middle East image Veolia

Insights: Reconciling human progress with environmental protection

The UAE has put environmental protection at the heart of its development agenda for decades; it was the first country in the GCC to sign the Paris Agreement and launch its Net Zero by 2050 Strategic Initiative

nol pay

Dubai’s RTA updates nol Pay app with 4 new features

The official payment platform seeks to improve the transportation experience in Dubai for residents, visitors and tourists

A321neo

Saudia fleet expands to include new A321neo aircraft

The aircraft is said to offer new levels of performance, seating 180 to 220 passengers in a typical two-class interior layout

Supermoon

Supermoon in the UAE: Here are places to catch ‘sturgeon moon’ and ‘blue moon’

The night sky in August is a delight for stargazers with two supermoon set to occur after a gap of five years

SEVEN breaks ground for Almadinah Image courtesy SEVEN

Saudi’s SEVEN breaks ground at new SAR1.3bn entertainment destination in Almadinah

SEVEN has upcoming projects across 14 cities across Riyadh, Kharj, Makkah, Jeddah, Taif, Dammam, Khobar, Al Ahsa, Almadinah, Yanbu, Abha, Jizan, Buraidah and Tabuk

MASDAR - CITAGLOBAL MALAYSIA Image Masdar

UAE’s Masdar, Citaglobal Berhad to develop clean energy projects in Malaysia

The companies will join hands to develop renewable energy projects in Pahang, Malaysia

Aldar boosts education portfolio investment to $368m

Aldar boosts investment in education portfolio to $368m

The expansion plan includes the establishment of Cranleigh Bahrain and the acquisition of Kent College Dubai and Virginia International Private School in Abu Dhabi

Abu Dhabi DMT announces H1 real estate transactions Image Abu Dhabi DMT

Abu Dhabi real estate sector records over Dhs46.33bn in deals in H1 2023

Al Saadiyat Island topped the list with transactions worth Dhs3bn, with Yas Island coming in at second place with transactions worth Dhs2.6bn

UAE announces petrol, diesel prices for August 2023

UAE announces petrol, diesel prices for August 2023

The fuel price committee increased the price of Super 98 to Dhs3.14 from Dhs3 in July

NEOM McLaren Electric racing team ai-designed livery

NEOM McLaren Formula E team unveil world’s first AI-designed livery

The AI-designed livery was released at the London E-Prix to mark McLaren Racing’s 60th anniversary year

israel flights

Dubai Airports welcomes first Air Canada flight at DXB Terminal 3: Watch

Air Canada is the fourth international airline to operate out of the terminal

Binance receives MVP licence in Dubai

Binance receives Minimum Viable Product licence from Dubai’s VARA

The Operational MVP licence will allow Binance to offer exchange and broker-dealer services, initially to institutional and qualified retail investors

arab monetary fund extends loan to Egypt

Egypt gets $616m loan from Arab Monetary Fund

The agreement is aimed at bettering the payment-systems infrastructure, financial inclusion and regulatory framework in Egypt

UAE money laundering prosecution office

UAE approves proposal to establish money laundering prosecution offices

The offices will overlook corporate crimes, bankruptcy, regulation of competition, financial markets, intellectual property and trademarks, and customs evasion crimes

UAE MoF announces penalties for Corporate tax violations -Photo-courtesy WAM

UAE announces penalties for corporate tax violations

Under Cabinet Decision No (75) of 2023, penalties will be imposed on taxable persons who do not comply with the UAE corporate tax law effective from August 1

RTA reveals rider figures for H1 2023 dubai metro Image RTA

Dubai: 337 million commuters used public transport in H1, reports RTA

Dubai Metro ridership on both the Red and Green Lines hit 123.4 million riders, with Burjuman and Union stations accounting for the majority of riders

Road to the future_uae boosts smart mobility

Here’s how UAE is expanding the horizons of smart mobility

Shared mobility, micromobility and autonomous vehicles are set to become mainstream in the coming years, say experts

Sharjah real estate

Sharjah registers real estate transactions worth Dhs549.4m in H1 2023

In Kalba, 98 sales transactions were recorded in 21 regions, totalling Dhs54.1m

Carbon markets

Abu Dhabi firm plans to raise $250m for carbon fund

Carbon markets are witnessing a shift, with new guidelines and greater oversight after a boom in demand

IUCN and RCU teams gather together to celebrate the launch of the IUCN IBEX tool Image RCU

The Royal Commission for AlUla, IUCN unveil new conservation assessment tool

 The new tool allows protected area managers to carry out self-assessment of facilities and practices against IUCN’s Green List standard

DFM’s H1 2023 profit jumps 77% to Dhs112.2m

Dubai Financial Market reports Dhs112.2m half-year profit, up 77%

The DFM General Index posted impressive growth of 14 per cent, closing at 3,972 points while market capitalisation soared to Dhs652bn

GCC stock markets are hitting record highs

GCC stock markets are hitting record highs. Here’s why

After a strong performance last year, the GCC region is set to see more activity in its capital markets in the medium term

US NSA Jake Sullivan

US National Security Advisor Jake Sullivan in Saudi Arabia for talks

The NSA’s visit comes a month after US State Secretary Anthony Blinken was in the country to meet with the country’s leaders

Dubai Chamber

Dubai Chamber to support 100 businesses in global expansion drive

The New Horizons initiative assists in driving the international growth of member companies and will play a vital role in achieving Dubai’s goal of increasing non-oil foreign trade to Dhs2tn by 2026

noon pay

Noon launches noon pay, its peer-to-peer payment system

noon Pay enables individuals to transfer money in the form of noon credits

AD Ports Group boosts cooperation with Shandong Ports Group

UAE’s AD Ports Group boosts cooperation with Shandong Ports Group

Shandong Port will transport passenger vehicles from its ports in China to Autoterminal Khalifa Port, to be stored and displayed within facilities in KEZAD