TECOM expands portfolio with Dhs1.7bn acquisition, new developments

TECOM expands portfolio with Dhs1.7bn acquisition, new developments

The new acquisitions and developments will boost TECOM Group’s portfolio of commercial leasing gross leasable area (GLA) to over 10 million square feet

Tether to launch stablecoin pegged to UAE’s dirham

Phoenix Group, Tether to launch UAE dirham-pegged stablecoin

The dirham stable coin will be accessible globally and “fully backed” by liquid UAE-based reserves

Saudi heallthcare company Dallah acquires Ayyan Investment company's stake in 2 companies GettyImages/ Image for illustrative purposes

Saudi’s Dallah Health to acquire stakes in Al Ahsa, Al Salam Medical Services

Dallah will issue 3.89 million shares to Ayyan as part of the capital increase, valued at SAR660m

Qatar on track to double economy by 2031: Here's what's driving growth

Qatar on track to double economy by 2031: Here’s what’s driving growth

Key growth sectors include real estate, construction, financial services, trade, manufacturing, logistics and tourism, the Standard Chartered report shared

Saudia

Saudia announces 50% discount on flights: Here’s how to use it

The discount is available for international flights departing from Jeddah and Riyadh

ADQ joins forces with ne’ma to combat food waste

Abu Dhabi fund ADQ joins forces with ne’ma to combat food waste

ne’ma drives policy change and initiates projects to address the root causes of food waste

Gold - Renewed strength in the greenback has now seen bullion tumble more than 20 per cent since a March peak.

Gold tracks down after hitting record high

Gold has gained nearly 22 per cent so far this year with geopolitical tensions and uncertainty created by the upcoming US elections

traffic enhancements at Al Safa 1 schools complex completes image RTA X

RTA completes traffic improvements at Al Safa 1 Schools Complex

The latest traffic improvements in Al Safa will impact approximately 60,000 residents of the neighbourhood

KFH offloads entire stake in Sharjah Islamic Bank for Dhs1.3bn

Kuwait’s KFH offloads entire stake in Sharjah Islamic Bank for Dhs1.3bn

The shares were sold to the Endowment of Sheikh Sultan bin Mohammed bin Saqer Al Qasimi, the Sharjah Social Security Fund and Sharjah Islamic Bank

Boeing 777x

Boeing grounds 777X test fleet after a new parts failure report

The US FAA said Boeing had informed it of its discovery of a damaged component following a 777-9 flight test last week

Abu Dhabi hotels visitor numbers for H1 2024 reported -GettyImages-

Abu Dhabi hotels receive 2.4 million guests between Jan-May

Abu Dhabi city accounted for the bulk of the guests, hosting 2.179 million, while Al Ain attracted circa 169,000 guests, and Al Dhafra welcomed around 64,000 guests

Qatar airways to increase flights to key cities in winter season Image Qatar Airways

Qatar Airways to increase flights to London, Male, Miami, Tokyo

The flight services to key international destinations, including London, Male, Miami, and Tokyo, will be launched for the upcoming 2024-2025 winter season

Dubai Land Department signs 7 key agreements with developers -Image-Dubai-Media-Office

Dubai Land Department inks 7 key deals with top developers

The developers included in this agreement are Emaar Properties, DAMAC, Binghatti Properties, Aldar Properties, Sobha Realty, Azizi Developments and Danube

Abu Dhabi - ADREC

ADREC: Abu Dhabi launches rental index

The rental index, accessible via the ADREC website, offers reliable and up-to-date data on residential, commercial, and industrial properties

Qatar Airways invests in South African carrier Airlink

Qatar Airways acquires 25% stake in South African carrier Airlink

The investment in privately-owned Airlink would enhance an existing code-share partnership between the two airlines

India flights: IndiGo launches 3 new routes from Abu Dhabi

India flights: IndiGo launches 3 new routes from Abu Dhabi

The new routes will link Zayed International Airport with Mangaluru, Tiruchirappalli and Coimbatore

ADNOC, petronas and storegga ink JDSA for CCS project in malaysia Image ADNOC

ADNOC, PETRONAS, Storegga tie up on offshore CCS project in Malaysia

The agreement focuses on identifying suitable saline aquifers for safe and permanent CO2 storage, enhancing Malaysia’s potential as a regional CCS hub

Saudi PIF eyes Boeing, Airbus jets for new cargo airline

Saudi Arabia’s PIF reportedly plans new cargo airline in logistics hub push

The wealth fund is said to discussions with both aircraft manufacturers and lessors to acquire Boeing 777 and Airbus A350 freighters

Oman’s wealth fund boosts assets to OMR19.6bn in 2023

Oman Investment Authority boosts assets to OMR19.6bn in 2023

The sovereign wealth fund said it recorded more than OMR1.7bn in profit and contributed OMR800m to the state’s general budget

Al Majed for Oud to list 30% stake in Riyadh

Saudi Arabia’s Al Majed for Oud to sell 30% stake in Riyadh IPO

The perfume retailer is offering 7,500,000 shares to investors—equivalent to 30 per cent of the company’s paid-up capital

dirham

India’s RBI asks banks to push direct rupee-dirham settlement: Reports

The RBI has not instructed banks to shift all dirham payments to this channel but instead is taking steps to encourage the development of an rupee-dirham market

Cryptocurrency Dubai DMCC

UPDATED: Dubai court ruling on cryptocurrency wages sparks debate

The decision reinforces the importance of clear contractual terms, ensuring that both traditional and cryptocurrency forms of payment are adequately addressed

DWTCA sees strong growth in H1

DWTCA sees registered companies grow by 19 per cent in H1

According to the latest figures, the DWTCA Free Zone saw a substantial 21 per cent rise in the number of tenants, reaching 2,735 in H1

DWTCA sees strong growth in H1

Dubai welcomed almost 700,000 medical tourists in 2023

Dubai’s health tourism sector generated indirect revenues of Dhs2.3bn in 2023, providing a significant boost to the emirate’s GDP

Apparel Group

Kuwait authorities say power cuts are ending soon

The power blackouts have been attributed to a gas supply disruption, which shut down key power stations and desalination plants

Travel, tourism visa applications

We’re making visa applications as easy as booking a flight: Atlys CEO

With offices across three continents, Atlys has processed over 1.2 million visas for over a 100 countries

Emirates NBD, BeZero Carbon tie-up to support carbon market trading

Emirates NBD, BeZero Carbon partner to support carbon market trading

This collaboration marks Emirates NBD as the first bank in the UAE to integrate an independent ratings agency into its voluntary carbon market trading operations

Gold Price, Commodities Investment

Gold trades near historic $2,500 mark on US Fed rate-cut optimism

Enthusiasm over a likely interest rate cut by the US Federal Reserve in September propelled bullion to an all-time high of $2,509.65 on August 16

Sustainable mobility startup E Daddy raises $15m

Sustainable mobility startup E Daddy raises $15m

The company, which has facilities in Dubai Industrial City and the National Industries Park, plans to launch its first fully electric motorcycle in Q1 2025

Antony-Blinken Saudi-FM-SPA

Blinken back in the Middle East, dials Saudi FM

The mediating countries – Qatar, the US, and Egypt – have so far failed to narrow enough differences to reach an agreement in months of on-off negotiations