India and UAE complete talks on bilateral pact to boost trade

Total trade between India and the UAE stood at $53bn during April-December 2021-22

Dubai International Financial Centre achieves record company registrations in 2021

Last year, the financial centre also recorded its highest ever annual revenue and operating profit

UAE’s DMCC launches Impact Scale-Up Programme for businesses

The freezone aims to bring 20 social and environmental impact-driven businesses into its community through the programme

Expo 2020 Dubai has stimulated real estate growth: JLL

The firm’s regional property outlook for 2022 showcases trends such as flexible office spaces and sustainability in built environments

UAE reports 957 Covid-19 cases, 2,538 recoveries

The nationwide case count has risen to 871,315

DCT Abu Dhabi, Airbnb seal deal to boost holiday home sector in the emirate

Airbnb will launch a dedicated responsible hosting page on the platform, helping hosts follow local rules for holiday homes

Fertiglobe announces $340m dividend after Q4 2021 results

The company, a joint partnership between Abu Dhabi’s ADNOC and the Netherlands-based OCI, reported a revenue rise of 113 per cent to $3.31bn in 2021

Saudi digital security firm Elm soars in Riyadh trading debut

The stock rose to $44.3 on Wednesday

Abu Dhabi Vaccine tourism

Abu Dhabi International Airport receives 5.26 million visitors in 2021

The airport handled 711,715 tonnes of freight in 2021

UAE digital bank Zand wins backing from Franklin, Aditya Birla

Digital banks have taken off with the spread of finance technology in Middle East

Bharain investcorp

Bahrain’s Investcorp acquires 64 industrial properties worth $640m in the US

The latest acquisitions grows Investcorp’s US industrial real estate holdings to approximately $3.5bn across approximately 32 million sq ft

Saudi Arabia

Saudi Arabia’s sovereign fund backs new digital bank called D360

The Saudi cabinet approved a licence for D360 bank on Tuesday

ADNOC, Borealis hiring banks for IPO of plastics joint venture

Borouge manufactures plastics used in everything from automobiles and food packaging to medicine vials and piping systems

Dragon Oil

Dubai’s Dragon Oil confirms first oil discovery in Egypt’s Gulf of Suez

The field could contain around 100 million barrels in reserves

Flydubai to resume flights to Istanbul’s Sabiha Gökçen Airport next month

With the resumption, the airline will increase its overall flight frequency to Istanbul to 12 per week

Getty Images

Abu Dhabi updates travel green list, adds Turkey

The list now has 72 destinations in total

Saudi Arabia-based Nadec’s solar park now operational

The solar photovoltaic park, developed by Nadec and French energy company Engie, is estimated to lower carbon emissions by 53 million kg per year

Dubai Can

Dubai Can: Free drinking water to be made available across city

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Dubai Crown Prince and Chairman of The Executive Council of Dubai, launched the initiative that aims to encourage the use of refillable water bottles

Flooss, a new digital payment platform, launched in Bahrain

Mastercard has partnered with Payment International Enterprise to launch Flooss across Bahrain and the region

Covid-19: UAE reports 930 cases, lowest in almost 8 weeks

The nationwide case count has risen to 870,358

Dubai Islamic Bank lists $750m sukuk on Nasdaq Dubai

The issuance was oversubscribed by more than 2.5 times

Israeli firm to help Dubai’s Mashreqbank detect financial crimes

It follows Israel and the UAE normalising relations in 2020

Dubai’s DP World launches new intermodal shipment tracking tool

Cargoes Flow will provide an end-to-end visibility for shipments irrespective of their shipping modes, carriers, and shipping lanes

Why the CEO of CoinMENA thinks cryptocurrencies are the future of finance

Looking to invest in crypto assets? Talal Tabbaa advises starting small, paying attention to trends and adopting a long-term outlook

Food

Gulfood 2022: UAE’s F&B trade crosses $20bn from January-September 2021

Ten markets accounted for about 66 per cent of the UAE’s total F&B exports, with Saudi Arabia ranking first with a share of 17 per cent

Dubai’s Emaar Properties posts 80% rise in net profit for 2021

Its 2021 revenue stood at $7.697bn, posting an increase of 57 per cent compared to the previous year

Brazil

UAE’s Mubadala Capital raises $322m in first investment fund in Brazil

Mubadala Capital manages over $10bn of assets in third-party managed funds across its Brazil, private equity, public equities and venture capital businesses

President of Turkey arrives in the UAE

The Turkish President was received by Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces

Air Arabia

Air Arabia Egypt announces new service between Sohag and Gassim

The once-weekly flight will operate every Thursday and will be the seventh destination that the airline flies to in Saudi Arabia

UAE reports 1,191 Covid-19 cases, 2,713 recoveries

The nationwide case count has risen to 869,428