HANGZHOU, CHINA - NOVEMBER 23, 2023 - Visitors look at WeRide's driverless minibus at the 2nd Global Digital Trade Fair 2023 in Hangzhou, Zhejiang province, China, Nov 23, 2023. (Photo credit should read CFOTO/Future Publishing via Getty Images)

Robotaxis to hit Abu Dhabi streets this year, courtesy of Uber, WeRide

From later this year, the ride-hailing firm’s users in Abu Dhabi will be able to book a ride in a robotaxi

Abu Dhabi real estate market trends for H1 2024 according to Bayut's findings Image_Getty Images

Abu Dhabi wealth fund ADQ sells $2bn bond

ADQ is fully owned by the Abu Dhabi government, which holds more than 90 per cent of the United Arab Emirates’ oil reserves

Investec expands global reach with Dubai office

South African lender Investec opens office in Dubai’s financial centre

The DIFC has been luring global banks, asset and wealth managers, and hedge funds, and it is now seeing rising interest from South African entities

Ooredoo secures QAR2bn financing to build data centres

Qatar’s Ooredoo secures QAR2bn financing to build data centres

The 10-year hybrid facility was provided by Qatar National Bank, Doha Bank and Masraf Al Rayan

EU assessing deal by e& Group for Czech PPF’s assets

e& Group secures EU approval to buy Czech PPF’s telecoms assets

e& has secured “all regulatory approvals” and “closing of the deal remains subject to customary remaining closing terms”

TAQA, SUEZ, Siemens launch desalination initiative

Abu Dhabi’s TAQA, SUEZ and Siemens team up in desalination initiative

The initiative is a five-year global competition that aims to reimagine systems, methods, and materials to advance desalination technologies

Microsoft to set up an engineering centre in Abu Dhabi GettyImages

Microsoft to set up key engineering centre in Abu Dhabi

The Abu Dhabi centre will collaborate with Microsoft’s global network of development centres to develop solutions in AI, cloud computing, and advanced cybersecurity

OPEC raises long-term oil demand outlook

OPEC boosts long-term oil demand outlook, driven by developing world growth

OPEC expects world oil demand to reach 118.9 million bpd by 2045, which is around 2.9 million bpd higher than earlier projections

Linkedin reveals top UAE startups for 2024 GettyImages-186125041

LinkedIn names these UAE companies as top startups for 2024

The emergence of these startups is not only indicative of individual success but also highlights the broader trends shaping the UAE’s economic environment

Aramco sets price guidance for dollar sukuk bonds

Saudi Aramco sets price guidance for dollar sukuk bonds, term sheet shows

The 5-year bond has price guidance of Treasuries plus around 120 basis points (bps) and the 10-year bond has Treasuries plus about 135 bps

Autoterminal Khalifa Port's ro-ro vehicle volumes rise 30% in H1' 24

Autoterminal Khalifa Port’s ro-ro vehicle volumes rise 30%

Autoterminal Khalifa Port is strategically positioned, hosting three of the world’s top five container shipping lines

Dubai's DET, Amazon launch accelerator for SMEs

Dubai’s DET, Amazon launch accelerator for SMEs

The partnership between DET and Amazon UAE showcases the effective collaboration between government and private sectors

Sheikh Mohammed approves Dhs10bn Dubai Exhibition Centre expansion plan

Sheikh Mohammed approves Dhs10bn Dubai Exhibition Centre expansion plan

The exhibition centre will be the largest purpose-built indoor events and exhibitions venue in the region upon completion

UAE-US issue joint statement image courtesy WAM

UAE, US issue joint statement, deepen cooperation across sectors

The leaders pledged to pursue new opportunities to strengthen their economic and defense partnership; promote peace and stability across the Middle East and wider region

UAE’s Masdar acquires Brookfield’s Saeta Yield for $1.4bn

UAE’s Masdar acquires Brookfield’s Saeta Yield for $1.4bn

The deal consists of a portfolio of 745 megawatts (MW) of predominantly wind assets – 538 MW in Spain, 144 MW in Portugal and 63 MW solar PV assets in Spain

President Sheikh Mohamed affirms UAE-US alliance

UAE President reaffirms ‘unwavering commitment’ to US partnership

The two leaders reviewed various aspects of the longstanding bilateral ties, particularly in the fields of trade and investment, the economy, advanced technology and renewable energy

Speed limits increased on Dubai's Al Amardi street image RTA X

Dubai increases speed limits on these key roads

The RTA will update traffic signs and road markings along the affected segments to ensure compliance with the new speed limits

General Atlantic plans Abu Dhabi office by year-end

General Atlantic plans Abu Dhabi office by year-end

The New York-based private equity firm received preliminary approval for a license to operate out of the Abu Dhabi Global Market

EDGE unveils new space company ‘FADA’

UAE defence firm EDGE forays into space domain with ‘FADA’

The space firm will create advanced facilities for designing, building, testing, and integrating various satellite components

Arcapita, Dgpays consortium acquires majority stake in Mashreq's Neopay

Arcapita, Dgpays consortium acquires majority stake in Mashreq’s Neopay

Neopay, originally established as a strategic division within Mashreq, has expanded rapidly, becoming a key player in the UAE’s digital payments sector

OQ Exploration and Production seeks to raise $2bn from IPO

OQ Exploration and Production seeks to raise $2bn from IPO

The IPO attracted six cornerstone investors, including Al-Hosn Investment Company, Bank Dhofar and Tanmia, which agreed to subscribe for shares worth as much as OMR156m

Core42 upgrades Compass for enhanced AI integration

Core42 upgrades Compass for enhanced AI integration

The upgrade includes new features like the Compass Chat mobile app, which offers seamless AI access and enhanced productivity tools for businesses

Nakheel awards construction contract for Como Residences to Alec Engineering & Contracting

Nakheel awards Dhs1.8bn construction contract for Como Residences

The 75-storey luxury residential tower on Dubai’s Palm Jumeirah is scheduled for completion in Q2 2028

Egypt to sell United Bank stake in IPO on local bourse

Egypt to sell United Bank stake in IPO on local bourse

The Central Bank of Egypt is currently pursuing approval from the Financial Regulatory Authority and the Egyptian Stock Exchange

UAE treasury bonds, sukuk programmes achieve Dhs25bn in issuances

UAE treasury bonds, sukuk programmes achieve Dhs25bn in issuances

The ministry’s efforts to strengthen the local currency bond market and diversify funding sources are crucial in fostering a stable financial landscape

TSMC, Samsung explore chip factory projects in UAE

TSMC, Samsung consider building chip factories in UAE, WSJ reports

The broader goal would be to increase global chip production and help bring chip prices down without hurting chipmakers’ profitability

ADHA, ADCB offer Emiratis flexible housing loans

Abu Dhabi Emiratis can now access top-up housing loans of Dhs500,000

The initiative is for beneficiaries of the Abu Dhabi Housing Authority’s housing loan programme, with loan amounts of Dhs1.75m

Riyadh Air, Sutherland to develop digitally native financial operations

Riyadh Air, Sutherland to develop digitally native financial operations

This partnership supports Riyadh Air’s goal of becoming the world’s first fully digital airline as it prepares to expand to over 100 destinations by 2030

Shaping Sharjah’s transformation: Shurooq CEO shares insights

Shaping Sharjah’s transformation: Shurooq CEO shares insights

Ahmed Obaid Al Qaseer says Shurooq is harnessing Sharjah’s cultural heritage, while implementing initiatives that boost tourism and investment

Red Sea insurance costs soar as Houthi shipping threats loom

Red Sea insurance costs soar as Houthi shipping threats loom

The Sounion, which was struck on August 21 and laden with about one million barrels of crude oil, was towed without an oil spill