Sheikh Mohamed bin Zayed Al Nahyan has ordered the completion of all housing grant applications submitted in previous years through the Sheikh Zayed Housing Programme, at a total cost of around Dhs2.3b

Sheikh Mohamed bin Zayed orders completion of pending housing grant applications

The President has ordered the completion of all housing grant applications through the Sheikh Zayed Housing Programme, at a total cost of around Dhs2.3bn

Public Investment Fund

Saudi wealth fund to take $185m Jordanian bank stake

The Public Investment Fund signed a subscription agreement that would involve it buying 63 million newly issued shares

Saudi Arabia

Saudi raises oil prices amid Asia rebound

Saudi Arabia sends more than 60 per cent of its crude exports to Asia, with China, Japan, South Korea and India being the biggest buyers

landfills

Dubai Airports’ new initiative to divert 60% of DXB’s waste from landfills by mid-2023

The food waste plan was created in partnership with Sharjah’s Beeah Group

Digital wallet

Did you know that over half of the UAE population use digital wallets?

The survey was commissioned by Checkout.com and conducted by YouGov, polling over a 1000 UAE residents during May 19 and May 24, 2022

Flydubai

Flydubai to resume flights to Abha in Saudi Arabia

Flights will commence with a daily service, from Dubai International’s Terminal 2

investment firms

How GCC investment firms can adapt to capture new opportunities

Private equity firms, principal investors, and SWFs in the region need to respond to rapidly evolving societal goals and expectations on sustainability

Adnoc borouge

ADNOC delivers fourth consecutive record-setting IPO on ADX

The retail offering, which attracted higher retail demand than any UAE IPO in nearly 20 years, was 74 times oversubscribed

Al Jalila Foundation accepting cryptocurrency

Al Jalila Foundation to accept cryptocurrency donations

Crypto philanthropy has emerged as an important and sustainable source of fundraising for charities, giving people greater opportunities to donate for good

UAE reports 593 Covid-19 cases, 506 recoveries

The nationwide case count has risen to 909,815

Electronic visa for Umrah available now

Saudi Arabia launches electronic visa processing app for Umrah pilgrims

The visit visa for Umrah will be issued now within 24 hours and applications can be submitted from outside Saudi Arabia through the app

Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE

Sheikh Mohammed issues law to establish Dubai Media Council

The council will develop Dubai’s media strategy and oversee its implementation

dnata

Dubai’s dnata to invest $100m in green operations in next two years

Earlier this year, dnata committed to reducing its waste to landfill by 20 per cent by 2024

UAE Covid-19

UAE reports 575 Covid-19 cases, 449 recoveries

The nationwide case count has risen to 909,222

Duque free zone launches in Dubai

DUQE free zone launches operations from Dubai’s QE 2 hotel

DUQE has allied with PCFC to offer full integrated support to entrepreneurs to help them set up and expand their business

emirates

Luxury on a budget: Emirates begins booking for its premium economy

From June 1, 2022, the carrier has commenced premium economy bookings on routes to London, Paris and Sydney

schools

Sharjah Private Education Authority, Arada partner to design future schools

The agreement will also see the launch of joint training programmes, initiatives and events to promote the educational sector in Sharjah

Sukuk

Sharjah’s Arada raises $350m via dollar sukuk, lists on London Stock Exchange

The issuance witnessed demand from regional and international investors, with a subscription order of $720m, more than two times the offer size

Ajman Free Zone

Ajman Free Zone reports 45% growth in e-commerce sector in 2022

Warehousing solutions are a core focus within the freezone’s operations

Middle East IPOs

Middle East IPOs on track for best ever first half as oil surges

IPOs in the Middle East have fetched $11.4bn in the first five months of the year

Monkeypox

UAE reports four new cases of monkeypox

The health ministry has urged all to follow appropriate preventive measures

UAE reports 442 Covid-19 cases, 394 recoveries

The nationwide case count has risen to 908,647

Cuemath

Alpha Wave leads $57m funding in edtech platform Cuemath

Funds will be deployed to help Cuemath expand to over 100 countries by FY’23

Arcserve

Arcserve, Ampconnect partner to accelerate business growth in the GCC

The partnership will empower both organisations to meet the growing demand for unified data resilience solutions in the region

Borouge

Borouge’s $2bn Abu Dhabi IPO draws $83bn of orders

Borouge’s shares will start trading on June 3

fuel prices

UAE increases fuel prices for June 2022

The price of Super 98 has risen to Dhs4.15 per litre

plastic bags

Single-use plastic ban in Abu Dhabi begins: Everything you need to know

Major retailers in the UAE such as Carrefour, Spinneys and Lulu are geared up to implement this by providing sustainable and eco-friendly alternatives

Nemo Stojanovic, director of leasing and marketing, Central Park Towers, DIFC, Arady Developments

How Central Park Towers, DIFC, opens up new avenues for Dubai’s real estate market

Nemo Stojanovic, director of leasing and marketing, Central Park Towers, DIFC, Arady Developments, explains why the project is an attractive proposition to its residents and businesses setting up base within the prime location

stake

The SME Story: Rami Tabbara, co-founder and co-CEO of Stake

A digital fractional real estate investment platform is offering a chance for those with limited budgets to enter the property market

Agreement

UAE, Israel sign comprehensive economic partnership agreement

The agreement will support service sectors such as hospitality, financial services, distribution and construction