ADNOC Gas raises $2.5bn from IPO

ADNOC Gas IPO raises $2.5bn, attracts $124bn in demand

The company increased the number of ordinary shares offered in the IPO to 3.8 billion on Monday, implying market capitalisation of Dhs182bn

ADNOC Drilling to acquire 10 hybrid rigs

ADNOC Drilling to acquire 10 hybrid power land rigs for $252m

The use of hybrid power land drilling rigs is an essential element of ADNOC Drilling’s decarbonisation strategy

Oman oil driller Abraj Energy hires banks for $500m IPO

Omani ministry signs nickel extraction agreement with UK’s Knights Bay

The first mining agreement is Oman’s first with a foreign investor

Drydocks World now an affiliate of Dubai Ports Authority media centre

New law establishes Drydocks World as Dubai Ports Authority affiliate

The law outlines the authority’s responsibilities, including planning and policy development for overseeing the emirate’s seaports and terminals

Shareek programme to suppport Saudi Arabia's private sector

Aramco, ACWA Power, SABIC to receive support from Saudi’s Shareek programme

The first wave of supported projects, which will have strategic impact on several economic sectors, will benefit from investments worth SAR192.4bn

Air Arabia Abu Dhabi to begin direct flights to Baku

Air Arabia Abu Dhabi to begin direct flights to Baku from Sept 13

The service will connect Abu Dhabi International Airport to Heydar Aliyev International Airport

Renewable energy in Saudi Arabia and UAE

UAE, Saudi Arabia lead GCC renewable energy investments: S&P Global

The Gulf states are accelerating the decarbonisation of their energy sectors by investing heavily in renewable energy

FAB facilitated over $9bn in sustainable projects

UAE’s FAB facilitated over $9bn in sustainable projects in 2022

More than half of FAB’s bond issuances in 2022 were in a ‘green’ format, with the bank aiming to further grow its range of sustainable offerings

Aramco, Geely and Renault venture

Saudi Aramco plans to set up powertrain JV with Renault, Geely

Aramco will be a minority stakeholder in the venture while Geely and Renault are expected to retain equal equity stakes

Saudi Aramco

Aramco completes acquisition of Valvoline’s global products business

The transaction expands Aramco’s lubricants business globally

Live: UAE astronaut Sultan Al Neyadi to takeoff on space mission

Lift off: UAE astronaut Sultan Al Neyadi en route to space

The mission, dubbed Crew-6, will include a series of experiments and research

Flydubai reports 43% rise in profit for 2022

Flydubai reports 43% rise in profit for 2022

The carrier flew 10.6 million passengers across its network last year, rising 89 per cent compared to 2021

UAE new visa rules

UAE visas: Expats need monthly income of Dhs10,000 to sponsor 5 relatives

The new visa rules require expats who want to bring their relatives or their wives’ relatives to the UAE to have an adequate monthly income

Online fashion retailer Namshi teams up with Tabby

Online fashion retailer Namshi teams up with Tabby

Customers can now use Tabby to split their purchases in four monthly payments at Namshi

Leap23

How LEAP is positioning Saudi Arabia as a technology hub

Public and private sector enterprises are setting standards for digital excellence with the support of events such as LEAP2023

Yahsat

UAE’s Yahsat reports 6% rise in revenue for 2022

Adjusted earnings before interest, taxes, depreciation and amortisation rose 7 per cent year-on-year to total $258m

F88

F88 raises $47m ahead of its planned Vietnam IPO

The Hanoi-based company offers small loans primarily backed by vehicles as collateral and provides financial services, such as insurance and money transfers

Qatar Airways launches Premium Experience campaign featuring Deepika Padukone

Qatar Airways launches Premium Experience campaign featuring this Bollywood icon

The Indian actress encapsulates the premium experience available to the airline’s customers

e& increase stake in Vodafone Group

UAE’s e& raises stake to 14% in Vodafone

The telecom operator, which initially acquired a 9.8 per cent stake in Vodafone for $4.4bn in May 2022, said its investment rationale remains unchanged

SABIC projects tight industry margins

Saudi Arabia’s SABIC sees industry margins staying tight

SABIC, which is majority-owned by Saudi Aramco, said average sale prices dropped 9 per cent from the previous quarter.

Dubai International Boat Show

Dubai International Boat Show 2023 previews the future of marina living

The show will open doors to residents and international visitors on March 1

Saudi Arabia's PIF backs emkan capital

Saudi wealth fund unit backs Emkan Capital’s technology fund

Emkan Capital’s technology fund will invest in pre-seed and seed-stage companies with high-growth potential

UAE reveals fuel prices for March 2023

UAE reveals fuel prices for March 2023

Petrol prices will marginally increase, while the price for diesel has been cut

UAE sustainable finance

UAE’s green, sustainable finance enjoy two years of rapid growth

The issuance of green and sustainable finance in the Middle East increased by 532 per cent to $24.6bn in 2021 from $3.8bn a year earlier.

Edmond de Rothschild opens office in Dubai's DIFC

Edmond de Rothschild opens office in Dubai’s DIFC, aims to broaden regional presence

The UAE is already an important market for Edmond de Rothschild, and the new presence will enhance its ability to serve the clients in the region

UAE weather update: Rain, overcast conditions expected this week

The UAE recorded its lowest temperature of 15°C in Raknah (Al Ain) at 6.30am and in Jais Mountain (Ras Al Khaimah) at 5.30am local time today

Dubai Chamber introduces Business Sectors Platform

Dubai Chamber of Commerce launches Business Sectors Platform

The platform features a comprehensive set of specialised services to enhance communication between the chamber and private sector

Saudi’s Mawani, Jeddah Chamber to jointly build $267m integrated logistics park

Mawani said the logistics park is expected to further boost its role as a key player in the national transportation ecosystem

Dubai's Emirates is largest foreign airline serving India

Dubai’s Emirates is largest foreign airline serving India

The airline carried 4.45 million passengers between Dubai and India last year

Arab Health: At the crossroads of healthcare

Arab Health: At the crossroads of healthcare

The online event, which began on January 9, will go on until to March 2