UAE’s First Abu Dhabi Bank and ADCB deny report of potential merger

The banks issued separate filings to the Abu Dhabi Securities Exchange (ADX) denying the report

ENOC Group to open 24 service stations across UAE in 2022

ENOC opened 15 new service stations in 2021

Saudi Arabia’s first movie chain plans landmark IPO

Muvi Cinemas is Saudi Arabia’s first homegrown cinema brand

Al Rawabi

Al Rawabi to establish Dhs650m dairy production facility in Abu Dhabi

The plant located in the Khalifa Industrial Zone Abu Dhabi is expected to produce 23 million litres in its first operational year

In pics: Sheikh Hamdan opens Meta’s new regional headquarters in Dubai

The new base will serve the Middle East and North Africa region

UAE reports 323 Covid-19 cases, 1,168 recoveries

The nationwide case count has risen to 883,593

Three ways Fintech is transforming everyday life

UAE’s Aafaq Islamic Finance and Arab Financial Services to back fintech startups

The partnership is part of Bahrain-based AFS’s Regional Partner Program that supports new and existing fintechs to launch operations across the region

Why eliminating gender bias must be a priority for all

Recruitment is key to making sure all positions are filled with a range of people that reflects the diversity of our communities

RAK’s Al Hamra earmarks Dhs1bn investment for five-year growth plan

Al Hamra’s growth plan includes enhancing its hospitality and retail offerings, and developing vertical and horizontal real estate assets

Dubai tech unicorn Zeta and Mastercard announce partnership

The partnership aims to maximise the safety, security and convenience of e-commerce, online banking and contactless transactions

Trojena NEOM

Trojena: All you need to know about Saudi’s new mega tourism project

Trojena which will include the GCC first outdoor ski resort is expected to create more than 10,000 jobs and add SAR3bn to the kingdom’s GDP by 2030

Saudi exchange to allow single-stock futures from next quarter

The Tadawul introduced index futures in August 2020

Waste to hydrogen

Development to begin on the region’s first waste-to-hydrogen plant in the UAE

Once operational at full capacity, the facility will produce 18,000kg of green hydrogen a day

Saudi’s $500bn NEOM megaproject beckons potential investor interest

Invitations were sent to private equity firms, bankers and construction suppliers for the gathering

Agthia Ventures launched Image Agthia Group

Abu Dhabi’s Agthia Group posts Dhs216m in net profit for 2021

The group’s net revenue reached Dhs3.07bn in 2021

Abu Dhabi’s Yahsat and EDGE partner for satcom solutions

As part of the agreement signed at the World Defense Show in Riyadh, Yahsat will enable comms-on-the-move solutions for military vehicles

UAE’s flydubai registers Dhs841m profit in 2021

The low cost carrier’s total annual revenue earning in 2021 was Dhs5.3bn compared to Dhs2.8bn in 2020, reflecting an increase of 86 per cent

Covid-19 cases in UAE July 21

UAE reports 386 Covid-19 cases, 1,203 recoveries

A total of 1,203 recoveries were recorded in the past 24 hours

Ukraine

Ukraine: UAE sends 30 tonnes of emergency medical and relief aid

The aircraft landed in Lublin and the aid was handed over to the Ukrainian authorities in Poland to be further transported to Ukraine

Colombo sri lanka

UAE’s Emirates signs MoU with Sri Lanka Tourism

Since Sri Lanka re-opened to international tourists in February 2021, Emirates has carried more than 80,000 passengers to Colombo

How to best fund a sustainable future

The main challenge: capital markets do not yet fully understand what the rule book for sustainable investing looks like

Buy-now-pay-later provider tabby secures $54m in funding

The investment will support tabby’s international expansion plans

Tabreed

UAE’s Tabreed launches green financing framework to fund projects

The framework is accompanied by a second party opinion from ESG ratings agency Sustainalytics

Sophia

Sophia, the first intelligent humanoid robot, to debut in Dubai

Saudi Arabia granted her citizenship in October 2017

Careem Bike

RTA and Careem launch Phase II of bike rental service in Dubai

There have been 950 pedal-assisted e-bikes added to the pool, taking the total number of these bikes available in the emirate up to 1,750

Saudi Arabia

Saudi lifts Covid-19 restrictions, scraps PCR testing requirement for incoming travellers

Social distancing measures in all open and closed places, activities, and events have also been suspended

Boardroom

The potential consequences of encouraging diversity in boardrooms

A diverse board has some major benefits including better decision-making capability, more effective utilisation of talent, increased corporate reputation and improved investor relations

Tunisia awards UAE’s AMEA Power $100m agreement to build solar power plant

Construction of the solar power plant is expected to begin by the end of this year

Saudi Arabia to get its first Spinneys store

The first store is expected to launch in Riyadh in the first quarter of 2023

UAE’s Aster and Siemens Healthineers to boost healthcare innovation

The seven-year technology and strategic partnership aims to enhance the care delivery model for patients of Aster DM Healthcare