G42, EcoCloud partner to build green data centre in Kenya

Abu Dhabi’s G42, EcoCloud partner to build green data centre in Kenya

The new facility will enhance cloud computing and artificial intelligence services to advance digital transformation in Kenya

Dubai consolidates real estate assets under Dubai Holding

Dubai consolidates Nakheel and Meydan under Dubai Holding

The deal is set to combine a complementary suite of services and expertise to diversify Dubai’s economy and maximise its competitiveness

Qatar Airways courts Airbus and Boeing for 150 new planes

Qatar Airways mulls up to 150 widebody orders from Boeing, Airbus

Earlier this month, Qatar’s national carrier said its entire fleet of A350 jets was back into service after settling a legal dispute with Airbus

GCC IPO momentum to remain robust in 2024

Here’s why the GCC IPO bonanza is here to stay

The GCC region is set to see more equity capital markets activity in 2024 as more companies are considering public listings amid a global slowdown

IEA raises oil demand outlook again but still lags OPEC

IEA raises oil demand outlook again but still lags OPEC

Brent crude oil rose as much as 80 cents a barrel towards $85 after the IEA report was released, touching its highest since November

ChatGPT

Abu Dhabi’s MGX eyes investment in OpenAI chip venture — FT

The discussions between Abu Dhabi’s MGX and OpenAI are at an early stage, according to the Financial Times

road

Abu Dhabi: ITC announces two road closures for this weekend

A partial road closure will be in place on Sheikh Khalifa Bin Zayed Al Nahyan Street in Abu Dhabi over the weekend

Saudi Manpower Solutions Company gets CMA nod to list IPO on Tadawul

Saudi Manpower Solutions Company gets CMA nod to list IPO on Tadawul

The IPO will offer 120,000,000 shares, representing 30 per cent of SMASCO’s total issued share capital

mohamed alabbar-eagle hills group

Mohamed Alabbar confirms participation in Budapest project

The Budapest project, expected to span one million square metres, will feature residential and commercial towers

Alpha Dhabi completes sale of 3 hotels to NCTH

IHC’s Alpha Dhabi consolidates hotel business with NCTH deal

The transaction adds St Regis Saadiyat, Al Wathba Luxury Collection and ultra-luxury Cheval Blanc in the Maldives to NCTH’s portfolio of hotel assets

saudi arabia non-oil activity

Saudi Arabia hits important economic milestone: Non-oil activities at 50% of GDP

The data points to a positive trajectory for the kingdom’s economy, driven by diversification, and growth across multiple sectors

Bahrain oil project secures financing from US Exim Bank

US export credit agency approves support for Bahrain oil project

The board of EXIM approved the project after voting last month to notify Congress about potentially supporting the expansion of an oil and gas field in the Gulf state

Travel to MALDIVES - Tropical sunset beach background as summer landscape panorama with beach swing or hammock and white sand and calm sea beach banner. Tranquil beach scene vacation or summer holiday concept. Relaxing spa wellbeing wallpaper

Eid al Fitr holiday: International travel destinations grow in popularity

Outbound travel numbers had gone up substantially this year with international travel packages making up 60 per cent of all bookings

fireworks ramadan nights

Ramadan fireworks to light up Dubai skyline starting today: Where to watch

Visitors to Bluewaters and The Beach, JBR can watch a spectacular fireworks show, from March 15 to 17

Saudi rain SPA

Saudi Arabia to see rain, thunderstorms on first Ramadan weekend

Light-to-moderate rain is expected in parts of Riyadh region, including the capital, Diriyah, Al-Muzahmiyah, and Al-Hareeq

oil

Oil prices at four-month high as revised IEA outlook signals tighter market

Near-term growth in global oil and liquids production will be driven primarily by the US, Guyana, Canada and Brazil, offsetting voluntary production cuts by OPEC+

BUDAPEST - DUBAI

‘Mini-Dubai’ being built in Budapest amid EUR5bn UAE-Hungary deal

First revealed in 2023 by Hungarian Minister Janos Lazar, the project was said to cost approximately EUR1bn, to enhance and upscale an abandoned neighbourhood in the capital

These 5 sectors dominated Dubai trade events in 2023

The Dubai World Trade Centre (DWTC) has revealed its latest facts and figures regarding how its events in 2023 performed

Dubai ALEC IPO on the cards

Parkin’s $429m IPO oversubscribed 165 times

Dubai Investment Fund sold 749,700,000 shares, equivalent to 24.99 per cent of Parkin’s paid-up capital

India cabinet approves Middle East-Europe trade corridor pact

India cabinet approves Middle East-Europe trade corridor pact

The corridor is an ambitious ship and rail network that will connect Europe with India through the UAE, Saudi Arabia, Jordan and Israel

Almas Tower in DMCC. DMCC is home to over 24,000 companies

Dubai’s DMCC now home to over 24,000 companies, reveals report

The free zone authority shared that a total of 2,692 new companies joined DMCC last year

PIF

PIF world’s fifth largest sovereign wealth fund post Aramco stake transfer

The PIF currently ranks number five globally in terms of sovereign wealth funds by asset size

Dubai’s IPO haul hits Dhs34.5bn in three years

Dubai’s IPO haul hits Dhs34.5bn in three years

The emirate’s continued listing activity is being driven by the implementation of various initiatives such as the IPO accelerator programme

Eid al fitr 2024

Eid al Fitr 2024: Saudi banks announce 9-day holiday

Financial institutions as well as academic institutions in the kingdom will shut for an extended period to mark Eid al Fitr

Riyadh Air marks first year anniversary. Milestones in numbers

In numbers: Riyadh Air marks first anniversary, see key milestones

Riyadh Air has signed significant agreements so far with aviation, transportation and sport partners, including Saudia, Turkish Airlines, Boeing, GE, CAE, Swiss AS, Lufthansa Systems, Lucid Motors and Atlético de Madrid

saudi arabia - jada fund of funds

PIF-backed Jada commits $266m in its first venture debt investment

This investment aims to bolster the growth of the Venture Debt ecosystem in Saudi Arabia.

Egypt raises minimum wage by 50% as part of ‘urgent’ package

Egyptians remit more money home after devaluation

The devaluation was part of an $8bn financial support agreement that Egypt last week signed with the International Monetary Fund

road

4 areas in Dubai where RTA roadwork upgrades are complete

About 18 km of roadworks, as well as the installation of lighting poles along 17 km of existing streets has been completed in Dubai’s Margham, Lehbab, Al Lesaili, and Hatta

Nouran Living by Aldar launches in Abu Dhabi Image: Aldar

Community takes centre stage at Aldar’s new Nouran Living

Construction on Nouran Living is set to begin in Q4 this year, with handovers expected in Q4 2027

DIFC enacts comprehensive digital assets law Image-DIFC

Dubai’s DIFC enacts world’s first comprehensive digital assets law

The new legislation came into effect on March 8 and is available for public access through the DIFC’s Legislative Database