UAE: Sheikh Mohammed announces cabinet reshuffle

UAE: Sheikh Mohammed announces cabinet reshuffle

The country’s Prime Minister and Ruler of Dubai, announced a string of ministerial appointments

Aramco’s venture capital arm expands investment fund to $500m

Aramco’s venture capital arm expands investment fund to $500m

Aramco has allocated $300m in additional funds to Wa’ed Ventures

Burjeel Holding enters Saudi market via agreement to establish 60 clinics

Burjeel Holding enters Saudi market via agreement to establish 60 clinics

The ADX-listed healthcare services provider signed a MoU with Leejam Sports Company to create a joint venture

Oil

Oil extends gain as Saudi Arabia bets on demand rebound in Asia

Saudi Aramco increased most of its prices for crude that will be shipped to its main market of Asia in March

UAE’s non-oil foreign trade grows 17% in 2022

UAE’s non-oil foreign trade grows 17% in 2022

This is the first time that the country’s non-oil foreign trade has surpassed the Dhs2tn mark

UAE establishes field hospital, sends search and rescue team to Türkiye, Syria

UAE establishes field hospital, sends search and rescue teams to Türkiye, Syria

Death toll from earthquakes that jolted southern Türkiye crossed 2,900

Taxis in Dubai to become 100% eco-friendly by 2027

Taxis in Dubai to become 100% eco-friendly by 2027

A total of 11,371 taxis were operating in the emirate by end of 2022

Aldar Manarat Living

Aldar unveils Manarat Living on Saadiyat Island in Abu Dhabi

Apartments are available for purchase from February 9

DP world open new trade routes in 2022

Dubai’s DP World reports 1.4% rise in gross container volumes in 2022

Jebel Ali handled 14 million TEU (twenty-foot equivalent units) in 2022, up 1.7 per cent year-on-year

UAE's GMG acquires Aswaaq to expand retail footprint

UAE’s GMG acquires Aswaaq to expand retail footprint

The acquisition adds a total of 11 community malls and 22 supermarkets to GMG’s retail network

Leap saudi

LEAP23: Second edition of technology event opens today in Riyadh

The Riyadh Front Exhibition & Conference Centre is set to host around 100,000 tech innovators

Dubai receives 14.36 million international visitors in 2022

Dubai receives 14.36 million international visitors in 2022

The emirate closed in on its pre-pandemic visitor figures of 16.73 million recorded in 2019

Microsoft continues to commit heavily to education and skilling initiatives.

Power Letters 2023: Naim Yazbeck, general manager, Microsoft UAE

Microsoft continues to commit heavily to education and skilling initiatives

Dubai

Dubai Health Authority, Trends sign MoU to collaborate on research projects

The MoU will support the authority’s efforts to develop an innovative health system based on scientific research

Details of first long-duration Arab astronaut mission announced

Details of first long-duration Arab astronaut mission announced

The mission will make the UAE the 11th country to send astronauts on a long-duration mission to the International Space Station

Abu Dhabi to deploy laser-based technology to measure vehicle emissions

Abu Dhabi to deploy laser-based technology to measure vehicle emissions

The three-week study will detect and quantify emissions from moving vehicles in real time at six locations in Abu Dhabi

Saudi's King Salman appoints new central bank governor

Saudi’s King Salman appoints new central bank governor

Former governor, Dr Fahd Al-Mubarak, takes on the role of adviser at the royal court

Abu Dhabi Chamber launches new strategy to boost economy

Abu Dhabi Chamber launches new strategy to boost economy

The chamber has focused on six strategic objectives, in its 2023-2025 strategy

Borouge reports $1.4bn net profit in 2022

Abu Dhabi-based Borouge reports $1.4bn net profit in 2022

The company delivered adjusted EBITDA of $541m in the fourth quarter, flat on a year-on-year basis with a net profit of $247m

Aldar-announces-JV with Dubai Holding

Aldar signs strategic JV with Dubai Holding, enters Dubai real estate market

The communities will feature over 9,000 residential units, with launches planned for this year

Abu Dhabi's Etihad Airways to increase flights to Frankfurt

Abu Dhabi’s Etihad Airways to increase flights to Frankfurt

The new services will increase the total number of weekly flights to the German destination to 11

National

National Marine Dredging Group achieves 30% growth in net profit during 2022

The group’s total assets increased to Dhs16bn, an increase of 24 per cent compared with total assets at December 31, 2021

Bal Krishen Rathore

Power Letters 2023: Bal Krishen Rathore, chairman and CEO, Century Financial

Inflation and interest rate forecasts will remain crucial in 2023

Dubai records 5.5% growth in energy demand in 2022

Dubai records 5.5% growth in energy demand in 2022

Energy demand last year reached 53,180 gigawatt-hours, compared to 50,401 gigawatt-hours in 2021

Expo City Dubai unveils new attractions for visitors

Expo City Dubai unveils new attractions for visitors

The Stories of Nations exhibitions are located in the opportunity, mobility and sustainability districts

Saudi Omani conference Photo courtesy saudi press agency SPA

Saudi Arabia, Oman sign 13 investment agreements, value exceeds SAR1bn

The agreements were signed at the Saudi-Omani Investment Forum being held in Riyadh

vertical farms

Saudi’s PIF partners with AeroFarms to build indoor vertical farms across MENA

The first farm, to be built in Saudi Arabia, will have an annual production capacity of up to 1.1 million kgs of crops

UAE central bank raises base rate _ feb 2023

UAE central Bank raises base rate by 25 basis points

The central banks of Saudi Arabia and Bahrain also increased their interest rates after the US Federal Reserve raised its target interest rate

AFC Asian Cup

Saudi Arabia wins rights to host AFC Asian Cup 2027

Saudi Arabia has won the prestigious AFC Asian Cup championship on three occasions: 1984, 1988, and 1996

Ardian

Buyout firm Ardian to open in Abu Dhabi to tap sovereign wealth

The company, with $25bn of assets and $8bn of capital in the region, will start with 10 employees in Abu Dhabi and may look to hire more