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Qatar stocks could attract up to $3.5bn on free float plan

The Gulf state is considering the plan on the hopes that more trading would raise investment returns, reduce costs and help with diversification

Hedge fund. - Sanjay Shah

Hedge fund trader Sanjay Shah loses appeal over order to pay $1bn in tax

The authority said in a statement Wednesday that it would now begin an asset recovery process

drone project - DCCA and DM sign MoU for Dubai Horizons Project photo courtesy Dubai Media Office

Dubai Civil Aviation Authority, Dubai Municipality ink MoU to further drone initiative

The MoU details a framework to achieve the goals of the Dubai Horizons project that is focused on planning drone flight routes and landing sites

Careem partners RTA in Dubai

Careem, RTA partner to launch ‘School Rides’ in Dubai

The company said its customers can select the ‘School Rides’ car type on its multiservice app to book affordable school rides for their children

Dimitrios Dosis, president– Mastercard EEMEA

Cover story: Mastercard’s Dimitrios Dosis talks strategy and innovation

The company’s EEMEA president shares how the company is contributing to the digital economy and serving communities

UAE receives wanted terrorist from Jordan

The UAE’s Federal Supreme Court in 2013 sentenced Khalaf Abd Al Rahman Humaid Al Rumaithi in absentia to 15 years for terrorist activities

Central bank on gross bank assets

CBUAE says gross banks’ assets reached Dhs3.74tn in February

Latest data from the central bank shows that gross credit surged by 1.2 per cent to Dhs1.89tn in February from 1.87tn a month earlier, driven by a 1.6 per cent increase in domestic credit

Al Seer Marine invests into Adnoc L and S

Al Seer Marine makes Dhs257m cornerstone investment into ADNOC L&S

Al Seer Marine recently announced a strong revenue profit of Dhs1.11bn for 2022

PwC Middle East

Middle East companies call for new green deal ahead of COP28, says PwC

The auditing firm said businesses in the region are increasingly transparent about their environmental impact, with 70 per cent reporting on their ESG impact

NCEMA X Presight MoU

NCEMA, Presight sign MoU to bolster crisis and emergency management

Presight will work closely with NCEMA to create a hi-tech AI platform that serves the emergency management community

ADNOC L&S IPO

ADNOC L&S sets IPO price range, seeks to raise $607m

The company expects the final offer price to be announced on May 26, after the book-building process

Etihad is offering discounted fares to Rome, among other destinations. (Image: Supplied by Etihad Airways)

Etihad Airways sale: Summer discounts announced on flights from Abu Dhabi

The airline is offering special fares to select destinations across its Asian, European, Middle Eastern and North American routes

Saudia

Saudia and Kuwait Airways sign codeshare agreement

Guests may expect to gain all the benefits of codeshare flights including connectivity, baggage transfer and the convenience of having their entire journey managed by one airline

UAE issues decree to regulate use of HFCs-e1622023668811

UAE issues decree regulating use of hydrofluorocarbons

The decree is a significant step in the UAE’s endeavour to uphold its obligations towards climate change mitigation and curbing harmful emissions

AD Ports Group Khalifa Port

AD Ports Group’s first-quarter revenue jumps by 73%

The shipping and logistics group’s revenue in the first three months of the year reached Dhs1.81bn from Dhs1.04 a year earlier

Arabian Drilling operations

Arabian Drilling’s Q1 revenue surges by 4% to SAR779m

The drilling company’s earnings before interest, taxes, depreciation and amortisation in Q1 2023 reached SAR323m, with a margin of 41.5 per cent

Saudi Real Estate Refinance Company

Saudi Real Estate Refinance Company announces credit rating and outlook upgrades

Moody’s Investor Services affirmed Saudi Real Estate Refinance Company’s ‘A2’ long-term issuer ratings and upgraded its outlooks to ‘positive’

Hajj

Saudi Arabia restricts entry to Makkah without permit

The move comes as part of the kingdom’s efforts to organise Hajj effectively

Morabaha Financing will list on Saudi Exchange

Saudi Arabia’s Morabaha Financing set to raise $83.4m in IPO

The company plans to use the net proceeds from the share sale to strengthen its capital base to support future growth

Agility logistics park

Kuwait’s Agility reports 20% rise in net profit to KD15.3m for Q1 2023

The company’s EBITDA increased 30 per cent to KD44m, and revenue grew 17 per cent

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UAE corporate tax: FTA opens registration for public stock and private companies

The authority explained that early corporate tax registration will allow enough time for companies and businesses to comply with their legal obligations

Mumbai

DMCC opens representative office in Mumbai to bolster UAE-India relations

The new office will provide a one-stop solution for Indian businesses looking to expand through Dubai and help them establish a presence in DMCC

TAQA’s nine-month net income reaches Dhs15bn

UAE’s TAQA Group posts $3.2bn in Q1 net income

The Abu Dhabi-listed firm said its revenues jumped 6 per cent in Q1 2023 to Dhs13.14bn, bolstered by higher bulk supply tariffs and transmission charges

lights

Abu Dhabi introduces traffic warning lights to alert drivers

The system, which aims to enhance road safety across the emirate, uses coloured lights to alert drivers of upcoming traffic incidents and adverse weather conditions

electric abra

Dubai’s RTA trials driverless electric abra

The inaugural voyage of this autonomous electric abra commenced from Al Jaddaf Station and concluded at the Festival City Station on Dubai Creek

ADIB Meydan Free Zone Signing ceremony

Abu Dhabi Islamic Bank, Meydan Free Zone collaborate to support SMEs

The partnership will enable both organisations to pool their resources and capabilities to offer SMEs a more comprehensive suite of solutions and service

Independence day celebrations_H.E Liron Zaslansky, Consul General of Israel to Dubai

Israeli consulate general hosts first independence day celebrations in Dubai

The gathering provided an opportunity for the Israeli and Emirati communities to come together and celebrate the shared values of peace, cooperation and prosperity

Air Arabia aircraft (Image: Supplied by Air Arabia)

Air Arabia set to commence Sharjah-Bangkok flights

The daily service between the two destinations will begin from June 30

Le Méridien Al Marjan Island Resort and Spa (Image: Supplied by Marjan)

Le Méridien to open in Ras Al Khaimah by 2026

The beachfront Le Méridien Al Marjan Island Resort and Spa in the UAE will feature 350 keys

Cityscape Global Saudi Arabia Edition

Cityscape Global to debut in Saudi Arabia this year

Over 180,000 domestic and international attendees will attend the debut edition of Cityscape Global