Former Abraaj COO reaches settlement with Dubai’s DFSA

Former Abraaj COO reaches settlement with Dubai’s DFSA

Waqar Siddique has withdrawn his Financial Markets Tribunal review and will not contest the regulator’s findings

Global Village opens, adds two new pavilions and more experiences

Dubai’s Global Village opens, ticket prices start at Dhs18

More than 175 rides, games and attractions are also available for guests to enjoy, including the new Global Village Big Balloon

First Abu Dhabi Bank reports 19% rise in nine-month net profit

The bank’s total income for the first nine months of the year stood at Dhs18bn, up 13 per cent year-on-year over the previous year

ADIB reports highest quarterly net profit for Q3 2022

ADIB reports highest quarterly net profit for Q3 2022, crossing Dhs1bn

The bank registered Dhs2.45bn in net profit for the first nine months of 2022

Saudi Arabia sets up carbon market firm to support net-zero goal

The Public Investment Fund said it started the Regional Voluntary Carbon Market Company with Saudi Tadawul Group

Saudi Stock Exchange CEO Sees Strong IPO Pipeline in Busy Year

Saudi stock exchange CEO sees strong IPO pipeline in busy year

The Middle East is having a banner year for IPOs on the back of high oil prices, investor inflows and strong demand for share sales

Qatar Airways

Qatar Airways signs SAF agreement with Gevo

The airline will be uplifting 5 million US gallons of neat SAF every year and will blend it with its existing supply of conventional jet fuel

PepsiCo Greenhouse Accelerator

Accelerating sustainability, encouraging innovation

Aamer Sheikh, CEO Middle East, PepsiCo, tells Gulf Business about the MENA edition of the mentor-led Greenhouse Accelerator programme and its focus on sustainability

UAE's Masdar acquires UK-based Arlington Energy to expand footprint

UAE’s Masdar acquires UK-based Arlington Energy to expand footprint

The acquisition will support Masdar’s offshore wind and renewables investment strategy

Dubai Islamic Bank

Dubai Islamic Bank posts 34% rise in group net profit for Q1-Q3 2022

The bank reported total income of Dhs9.873bn, rising 10 per cent year-on-year, compared to Dhs8.94bn last year

Global cybersecurity Forum

HPDC, BRF announce JV to spur halal poultry production in Saudi Arabia

The joint venture will increase local capabilities in halal food production and help develop Saudi Arabia’s poultry sector value chain

Abu Dhabi's ADCB reports 22% rise in net profit for first nine months of 2022

Abu Dhabi’s ADCB reports 22% rise in net profit for first nine months of 2022

The bank posted a 10 per cent rise in net interest income, totalling Dhs7.275bn

Saudi Telecom

Saudi’s PIF offers to buy stake in $5.8bn STC towers unit

The PIF made a non-binding offer to Saudi Telecom Co. for 51 per cent of Telecommunications Towers Company

Netflix's new reality show Dubai Bling to start from October 27

Netflix’s new reality show ‘Dubai Bling’ to start from October 27

Dubai bling follows the stories of ten self-made millionaires living lavish livestyles in Dubai

Abu Dhabi Global Market

Aliph Capital secures $125m investment from Abu Dhabi’s ADQ

Aliph Capital will seek to acquire sizeable positions in privately owned mid-market companies across the GCC

JPMorgan set to hire 20 more bankers in Saudi Arabia expansion

JPMorgan set to hire 20 more bankers in Saudi Arabia expansion

The US bank will have doubled the size of its Saudi operations by the end of the year, compared to 2016

Saudi Arabia’s PIF launches company to develop halal production industry

The company aims to localise knowledge, technology and innovation for the development of halal products, including foods, cosmetics, and pharmaceuticals

European investor M7 opens first Middle East office in Dubai

European investor M7 opens first Middle East office in Dubai

The company currently manages around €1bn of European real estate on behalf of Middle Eastern investors

Saudi Arabia launches supply chain initiative to beckon $10.6bn of investments

The initiative will contribute to overcoming challenges faced by global supply chains

Dubai district cooling firm Empower to sell 10% stake in IPO

The firm has said it expects the minimum dividend to remain at $231m annually for two years after the IPO

Shell takes 9% stake in Qatari liquefied gas project

Shell will take a 9.375 per cent stake in North Field South, which will expand Qatar’s LNG output capacity by 16 million tons a year

Saudi British Bank reports 26% rise in net profit for Q3 2022

The bank’s loan portfolio grew to SAR189bn, marking an increase of 4 per cent during the third quarter

Aramco Launches Taleed Program to Accelerate SME growth in Saudi Arabia

Aramco launches Taleed to accelerate SME growth in Saudi Arabia

The programme will provide SMEs a wide range of support from capability building and strategy development to training, market access, advisory services and business planning

Emaar Properties

Emaar Properties to allow 100% foreign ownership from October 25

From next Tuesday, there will be no shareholding limit for non-UAE nationals

Emiratisation

UAE private sector companies urged to meet 2% Emiratisation target before end of year

Financial penalties on non-compliance will be collected starting January next year

Global Village

Dubai’s RTA to resume four bus routes for Global Village’s 27th season

Global Village will open for visitors on Tuesday, October 25

Emirates activates codeshare, interline agreements with Batik Air

Dubai’s Emirates announces codeshare, interline agreements with Batik Air

The partnership expands connectivity for Emirates customers with access to 25 Indonesian points on a single ticket and one baggage policy

DXB to welcome 2.1 million passengers between October 21-30

Dubai’s DXB to welcome 2.1 million passengers between October 21-30

October 30 is expected to be the busiest day, with daily passenger traffic to exceed 259,000

Dubai's DFSA partners with Thai Securities and Exchange Commission

Dubai’s DFSA partners with Thai Securities and Exchange Commission

The agreement provides a framework for further co-operation between the two authorities on regulation, policy and trends in financial services and markets

Mall of the Emirates digital concierge service

Mall of the Emirates launches Digital Concierge service, WhatsApp shopping

Customers can purchase from 350 brands, including luxury designers via the mall’s Digital Concierge website and WhatsApp chat feature