Emirates Lunar Mission to launch on December 1

Upon landing, the Rashid rover will explore the characteristics of the lunar soil

saudi arabia

Saudi PIF-backed EV firm secures site for Foxconn project

Construction on the site, which is near a major Red Sea trading port, will start early next year

Qatar

Qatar wealth fund hires ex-JPMorgan exec Niall Byrne as CFO

Byrne, who has nearly 30 years’ experience in the finance industry, joined QIA this month

ADGM FSRA

Abu Dhabi Global Market’s FSRA launches AI initiative on open regulation

The Open Regulation (OpenReg) initiative will be hosted at ADGM’s GitHub repository

Careem

Careem clocks in one billion rides

Careem captains have driven over nine billion kilometres across more than 80 cities in ten years

ADNOC awards $4bn agreements for integrated drilling fluids services

UAE plans global energy push with Adnoc’s $150bn spending

Adnoc will also accelerate its target for raising crude output capacity to 5 million barrels a day by 2027

Aldar and Nobu partner

Aldar, Nobu Hospitality to bring region’s first Nobu branded residences, hotel to Saadiyat Island

The agreement will see Aldar develop a five-star hotel, featuring 165 luxurious guest rooms and suites, including the rooftop Nobu Villa

Abu Dhabi Airport q3 passenger traffic touched 4.7mn

Abu Dhabi Airports serves 4.7 million passengers in Q3 2022

Abu Dhabi Airports expects to close 2022 with over 15 million passengers

Saudi Arabia

Saudi Crown Prince announces masterplan for new airport in Riyadh

The airport is expected to accommodate up to 185 million passengers and process 3.5 million tons of cargo by 2050

Kuwait exports first shipment of jet fuel from new Zour refinery

The first cargo is currently being shipped aboard the Pacific Sarah tanker

Qatar Airways

Qatar Airways to resume service to Taif with three weekly flights

The resumption of services marks the airline’s sixth destination in Saudi Arabia

In pics: Dubai's Emirates unveils retail store

In pics: Dubai’s Emirates unveils retail store

The airline expects to invest Dhs100m over next three years as part of retail strategy

Dubai Chambers unveils plans to expand role of business councils

Dubai Chambers unveils plans to expand role of business councils

The plan would create new channels of economic cooperation between business communities in Dubai and worldwide markets

Saudi Aramco

Aramco unit hires HSBC, Citigroup for Riyadh share sale

The company is planning to sell 50 million shares, or a nearly 30 per cent stake

Manama Bahrain

S&P turns more positive on Bahrain as oil prices surge

Among the policies welcomed by the agency were expenditure cuts and a doubling of value-added taxes in January

Abu Dhabi EAD reports good progress on single use plastic ban

Abu Dhabi: Daily reduction of half a million single-use plastic bags since June 1

More than 80 per cent of Abu Dhabi’s outlets, including the main retail shops, are committed to levying voluntary fees

Israel

Calev’s Newsroom: Role of diamond trade between Israel and UAE

Israel exported $188m in rough diamonds to the UAE in 2021, and that number is set to grow after the nations signed a free trade deal in June

UAE Work permits Mohre issues new rules

UAE: Four violations that could lead to suspension of new work permits

The Ministry of Human Resources and Emiratisation has identified these violations as part of a newly announced resolution

Oil

Oil set for third weekly loss on price-cap impasse, demand fears

Crude has declined this month, overturning the gains made in October

Abu Dhabi’s Etihad to livestream FIFA World Cup matches onboard its aircraft

The matches will be streamed live on Etihad’s E-BOX entertainment channels Sport 24 and Sport 24 Extra

Poland opens representative office in UAE

Poland opens representative office in UAE

The UAE is one of Poland’s largest trading partners in the region, with non-oil trade reaching $1.3bn in the first 9 months of 2022

Saudi Aramco announces record Q2 and H1 2022 results

Saudi Aramco Base Oil gets approval for Riyadh share offering

Saudi Aramco is aiming to sell 50 million shares – a 29.7 per cent stake – in the company

Nestle to invest $1.9bn in Saudi Arabia over next decade

The plant, set to open in 2025, will serve Saudi Arabia and export markets in the Middle East and North Africa

Mideast KFC operator Americana raises $1.8bn from IPO

Mideast KFC operator Americana raises $1.8bn from IPO

Americana will be the first company to have its shares traded in both Riyadh and Abu Dhabi

Abu Dhabi

Abu Dhabi’s GDP grows 11.2% in the first half of 2022

Abu Dhabi’s non-oil GDP grew to Dhs273bn, contributing more than 50 per cent to the emirate’s real GDP

First Emirati mission to the Moon will now launch on November 30

The new launch date remains contingent on the weather status and other conditions

Dubai Islamic Bank prices $750m inaugural sustainable sukuk

Dubai Islamic Bank prices $750m inaugural sustainable sukuk

The transaction marked the largest issue size in international capital markets by a GCC bank since February 2022

Emirates A380 returns to Perth

Emirates boss sees unprecedented travel surge once China reopens

Tim Clark said Emirates flights to Asian destinations that have already reopened are essentially full

Revealed: Winners of the Gulf Business Awards 2022

The awards celebrated stalwarts and companies from across the region’s business landscape

COP28 will be UAE’s most important event in 2023, says Sheikh Mohammed

COP28, which will be hosted in 2023 at Expo City Dubai, will welcome high-level participation including over 140 heads of state and government leaders, 80,000 delegates and more than 5,000 media professionals