ADNOC L&S invests $2.5bn to expand LNG fleet

Abu Dhabi’s ADNOC L&S expands LNG carrier fleet with $2.5bn investment

The new vessels will increase the company’s fleet of LNG carriers from 14 to at least 22 vessels

dubai sme CEO Abdul Baset AL Janahi on how Dubai SME is helping buuild a global SME hub

Dubai SME CEO Abdul Baset Al Janahi on building a global business hub

The CEO of Dubai SME shares how the entity has supported the emirate’s rise as a regional and global entrepreneurial hub

Red Sea - shipping - logistics

How have global shipping firms reacted to Red Sea tensions?

The longer route around the Cape of Good Hope, to avoid attacks by Yemen’s Houthis in the Red Sea, has pushed up shipping costs as well as emissions

PureHealth sales entire stake in stem cell business

PureHealth divests stem cell business to streamline operations

The sale will advance the healthcare firm’s focus on specialised services previously offered at Abu Dhabi Stem Cells Centre and Yas Clinic at Sheikh Shakbout Medical City

ACWA Power completes $533m financing for Tashkent energy project. Image courtesy ACWA Power / For illustrative purposes

ACWA Power completes $533m financing for Tashkent energy project

The Tashkent Riverside project includes a 500MWh battery energy storage system – the largest in Central Asia – and a 200MW solar project

Saudi oil minister

Saudi Arabia announces discovery of seven oil, gas deposits

Saudi Energy Minister Prince Abdulaziz bin Salman confirmed the discovery by state oil firm Saudi Aramco

Dar Global-Trump Organization Agreement Signing

Trump Tower in Jeddah: Dar Global announces Saudi project

This Jeddah venture will be the Trump Organization’s first foray into the Saudi Arabian market

Saudi Arabia’s PIF swings to $36.8bn profit in 2023

Saudi Arabia’s wealth fund PIF swings to $36.8bn profit in 2023

Under Vision 2030, Saudi Arabia has poured hundreds of billions of dollars through the fund into projects, including NEOM

GCC luxury sector surges in 2023, UAE leads the rest, reveals report from Chaloub Group Image: Getty Images

GCC luxury sector surges in 2023, UAE leads the rest

The region’s luxury market, valued at $12.5bn by year-end 2023, grew at double the rate of the global industry, revealed a report from the UAE-based Chaloub Group

Emirates unveils first destinations for its retrofitted 777

Dubai’s Emirates reveals first destinations for its refurbished Boeing 777

Flights on the retrofitted B777s to Geneva, Tokyo Haneda and Brussels go on sale today

U by Emaar Unveils Luxurious Bahrain Expansion

U by Emaar loyalty programme now covers these Bahrain hotels

The new additions, Address Beach Resort Bahrain and Vida Beach Resort Marassi-Al-Bahrain, will allow members to earn and redeem Upoints, the programme’s currency

Presight and Wand AI partner to deploy Generative AI Assistants at enterprises across the UAE_GettyImages-1194176305

Presight, Wand AI to develop GenAI assistants for UAE firms

The companies aim to introduce innovative AI solutions across multiple industries, including finance, retail, real estate, construction, and legal sectors

SpaceX to launch Yahsat Al Yah 4 and 5 satellites

SpaceX to launch Yahsat’s Al Yah 4 and 5 satellites

These satellites are expected to eventually replace the older Al Yah 1 and Al Yah 2, launched in 2011 and 2012, respectively

AXA IM Alts grows global presence with ADGM office

French investment firm AXA IM Alts expands global footprint with ADGM office

The Abu Dhabi office will be primarily focused on capital raising across AXA IM Alts’ private and alternative assets range

Dubai-Metro-1

Here’s what Dubai’s metro stations will look like in 2030

Dubai unveiled plans to expand its metro network, to cover over 228 square kilometres by 2040, as part of its ’20-minute city’ agenda

Dubai approves Dhs25bn in new investment incentives

Dubai announces Dhs25bn in new investment incentives

The foreign investment development programme is designed to attract Dhs650bn of investments to the emirate over the next ten years

OPEC projection for 2024 energy demand - oil

Oil prices climb on summer demand outlook

Recent data showed that oil production and demand for major products rose to a four-month high in April, supporting prices

Mohamed Alabbar - Eagle Hills Chairman

Eagle Hills expands footprint in Iraq, Croatia

Eagle Hills will develop the luxury community which will include a top-tier golf course, residential neighbourhoods, and a five-star hotel among other amenities

Saudi Aramco signs $25bn in contracts for gas expansion

Saudi Aramco awards $25bn in contracts for gas expansion

The development of the Jafurah field is expected to cost $100bn and boost the state energy firm’s gas production by more than 60 per cent by 2030

Qatar

Simaisma Project: Qatar announces mega-entertainment district

The Simaisma Project will incorporate cutting-edge construction technologies and utilise eco-friendly, locally sourced materials

DIFC breaks ground on DIFC Square

DIFC breaks ground on new real estate development

This ambitious venture, comprising three interconnected buildings, aims to meet the growing demand for premium office spaces and retail units

Influencer

What you need to know about Abu Dhabi’s social media influencer licence

The rules aim to ensure transparency and accountability in the fast-growing field of influencer marketing

Emiratisation UAE

MoHRE sets June 30 deadline for Emiratisation targets compliance

MoHRE commended the companies that have already met the required growth in Emiratisation

UAE FUEL PRICES - PETROL, DIESEL RATES

UAE announces fuel prices for July 2024: Petrol prices decrease, diesel slightly up

Since the implementation of the deregulation policy in 2015, the UAE has consistently updated its fuel prices on the last day of each month

KUWAIT-AL-ZOUR-REFINERY - KIPIC

Fire breaks out at Kuwait’s Al Zour refinery, production unaffected: KIPIC

There were no casualties and firefighters were working on containing the fire, officials said

ARAMCO-RENAULT-GEELY

Aramco to buy 10% stake in Renault-Geely thermal engines venture

Renault CEO Luca de Meo described the deal as creating a “dream team” that would “reinvent” the future of combustion-engine and hybrid technologies

Egypt - WHEAT - BRICS

BRICS countries back grain exchange idea, Russia says

The exchange would allow buyers to purchase directly from producers

Brookfield Solano County California

UAE’s Masdar bids for Brookfield’s Spanish renewables unit: Reports

Brookfield bought the company from Spanish construction group ACS for EUR1bn in 2018

Co-ownership Dubai Shard

Transforming property investment in Dubai: Shard’s co-ownership model explained

Shard’s CEO tells Gulf Business that its co-ownership model offers a pathway to affordable luxury living in Dubai’s booming property market

UAE cuts Friday sermon to 10 minutes due to sweltering heat

UAE cuts Friday sermon to 10 minutes due to sweltering heat

The directive by the General Authority for Islamic Affairs, Endowments, Zakat (AWQAF) took effect on Friday, 28 June, and will last until early October