du teams up with Oracle to launch hyperscale cloud, sovereign AI services for govt, public sector

du to launch hyperscale cloud, sovereign AI services for govt, public sector

The telecom operator has teamed up with Oracle, which remains the only hyperscaler capable of delivering AI and a suite of cloud services across dedicated, public, and hybrid cloud environments globally

EDGE

EDGE and Adani Defence & Aerospace forge landmark agreement

This agreement will explore the establishing of research and development facilities in both India and the UAE

Brent oil price forecast Bloomberg GettyImages-1384536093

Saudi crude oil exports to China to fall for 3rd straight month in July: Reports

July exports are expected to be down from about 39 million barrels in June, possibly the lowest levels for the year, say reports

DXB set to welcome over 3.7 million guests between June15-25

DXB set to welcome over 3.7 million guests between June 15-25

June 22 is anticipated to be the busiest day, with guest numbers expected to exceed 287,000

BlackRock acquires GIP (Photo by Andrew Burton/Getty Images)

BlackRock appoints MD for UAE, Oman and Bahrain

The global financial giant has tapped former Mubadala and Goldman Sachs executive to lead its operations in the three GCC countries

NATURGY_TAQA_BID

Abu Dhabi’s TAQA and Spain’s Criteria end talks for Naturgy takeover plan

TAQA was in talks with Naturgy’s three largest shareholders for a possible takeover bid

Drake-Scull-construction

Drake & Scull completes restructuring milestones, eyes future projects

The restructuring has allowed the contractor to write off over Dhs4bn in debt

UAE fintech firm Stake raises $14m in Series A funding

UAE fintech firm Stake secures $14m in Series A funding

The company intends to use the proceeds to expand its business into Saudi Arabia

GB BB TECH EVENT

Watch top experts speak at the Gulf Business Tech Panel

Our upcoming panel event offers an exciting opportunity to gain insights from industry leaders and engage in discussions about the future of technology in business

Antony-Blinken-Israel

Antony Blinken back in the Middle East to discuss ceasefire proposal

This marks Blinken’s eighth trip to the region since the conflict erupted in October 2023

Dubai unveils new nol card unveiled

Dubai unveils new ‘nol Travel’ card with attractive discounts, benefits

The card offers a combination of fare discounts and exclusive promotions on hotels, restaurants and entertainment venues

Longevity Wellness Hub's Dani Afiouni on ageing well and living better

Longevity Wellness Hub’s Dani Afiouni on ageing well and living better

The founder and CEO shares how the Longevity Wellness Hub combines cutting-edge technology with ancient practices, empowering individuals to take charge of their wellbeing

Traffic law - Sheikh-Mohammed-Cabinet-Meet

UAE announces new federal traffic law to regulate EVs, self-driving cars

The new traffic law, aims to facilitate the broader adoption of self-driving vehicles and electric cars, keeping in line with advances in modern urban planning and sustainability efforts

Ministry of Economy, TRDA impose strict rules, heavy fines to check telemarketers

UAE: Ministry of Economy, TDRA impose strict rules, heavy fines to rein in telemarketers

Starting mid-August, telemarketers have to operate within stricter guidelines, including avoiding calling before 9am or after 6pm

Dubai: Sheikh Hamdan appoints 22 AI chiefs across government institutions

Dubai: Sheikh Hamdan appoints 22 AI chiefs across government institutions

The chief artificial intelligence (AI) officers will spearhead specialised plans and programmes in the field of AI and advanced technology

Major bridge opens as part of Al Garn Al Sabkha-Sheikh Mohammed bin Zayed Road Intersection Improvement Project. Image RTA X

Dubai opens new bridge to ease traffic at this major intersection: See details

Travel time is expected to decrease by 70 per cent for those using Sheikh Mohammed bin Zayed Road towards Al Yalayes Street in the direction of Jebel Ali Port, with journeys dropping from 21 minutes to just seven minutes

Abu Dhabi - ADREC

Global HNWIs ready to spend $408.3m on residential real estate in Abu Dhabi, reveals report

International buyer activity has skyrocketed in Abu Dhabi, with sales to non-resident investors jumping from 3 per cent in 2021 to 28 per cent in 2023

John Wood - Sidara

UK’s John Wood Group ‘discussing’ Sidara’s possible takeover proposal

Sidara’s recent offer for John Wood comes a year after a similar proposal by US-based private equity firm Apollo Global Management

RED SEA - YEMEN COAST - MAERSK

Red Sea: Two merchant vessels targeted in Gulf of Aden

The Red Sea crisis has disrupted global shipping by forcing vessels to avoid the nearby Suez Canal and reroute trade around Africa

ADNOC pays off ADNOC Distribution’s $1.19bn bond

UAE’s ADNOC pays off $1.19bn to ADNOC Distribution bondholders

The exchangeable bonds were issued in May 2021 along with the offering of approximately 375 million shares in ADNOC Distribution

Abu Dhabi unveils AGWA to boost food security

Abu Dhabi unveils new economic cluster to boost food security

AGWA is expected to contribute Dhs90bn in incremental GDP to Abu Dhabi’s economy and attract Dhs128bn in investments by 2045

kuwait

Kuwait signs $102m loan to develop Bahrain’s power grid

The loan agreement between Kuwait and Bahrain is financing the development of a 400 kilovolt transmission line

Saudi Arabia plans Aramco share sale as soon as June

Saudi Aramco shares trade higher after share offering

The world’s top oil exporter has been seeking to bring in international investment as it launches a range of projects as the Saudi government seeks to diversify its oil-based economy

Dubai real estate: Jumeirah Bay Island sees record-breaking villa sale for Dh175m

Dubai real estate: Jumeirah Bay Island sees record-breaking villa sale for Dh175m

The luxury villa is part of Sea Mirror, Dubai-based Lamar Development’s signature project

Eid Al Adha 2024 holidays announced for UAE public, private sector

UAE announces Eid Al Adha 2024 holidays for public, private sector

Public and private sector workers will have a four-day weekend to mark Eid Al Adha 2024

Cathay Pacific to connect Hong Kong with Riyadh

Cathay Pacific to launch flights connecting Hong Kong with Riyadh

The new service is expected to offer more travel options while promoting business, trade and tourism opportunities

Saudi Arabia’s Q1 GDP contracts by 1.7%

Saudi Arabia’s Q1 GDP shrinks estimated 1.7% YoY

Oil activities were down 11.2 per cent in the first quarter versus the previous year, while non-oil GDP grew 3.4 per cent year on year

Aramco allocate about 60% of share sale to foreign funds

Over half of Aramco share sale allocated to foreign investors

International demand for the secondary share sale was greater than for Aramco’s IPO in 2019

QATAR VC firm Rasmal ventures launches debut fund GettyImages-520283407-e1714712344221

Qatar’s Rasmal Ventures launches $100m debut VC fund

While sector-agnostic, the fund will have a strategic focus on climate and energy tech, fintech, supply chain logistics, B2B SaaS and AI

Turkey imposes 40% tariff on vehicle imports from China

Turkey imposes 40% tariff on vehicle imports from China

The additional Turkish tariff will be set at a minimum of $7,000 per vehicle, with effect from July 7