flynas boosts UAE network, with flights to 3 more destinations

flynas boosts UAE network, with flights to 3 more destinations

The expansion increases the number of routes between Saudi Arabia and the UAE to nine, and daily flight frequencies to more than 20

Red Sea - MAERSK

Shipping giant Maersk says Red Sea disruption could cut Asia-Europe capacity by 20%

Maersk’s fuel costs on the affected routes between Asia and Europe are now 40 per cent higher per journey

Abu Dhabi's IHC Q1 net profit hits Dhs8bn Image-courtesy-WAM

IHC sees Q1 profit rise 87.6%, announces share buyback programme

The holding company reported a year-on-year revenue hike of 22.5 per cent in Q1 2024, reaching a record Dhs19.3bn

Abu Dhabi GDP

Abu Dhabi unveils carbon calculator for hotels

Launched at Arabian Travel Market, the Carbon Calculator is a mandatory tool for all hotels within the emirate to track and quantify carbon emissions

UAE-NZ-CEPA TRADE TALKS-WAM

CEPA: UAE, New Zealand launch talks for a free trade deal

The UAE is New Zealand’s largest trade partner in the Middle East

FLYDUBAI

flydubai pax numbers rise in Q1 2024, fleet retrofit in progress

The airline carried close to five million passengers between January and April, a 13 per cent increase compared to the same period last year

Lucid Group secures $1bn from Saudi PIF affiliate

EV maker Lucid reports quarterly revenue above estimates as price cuts boost sales

The company said it expects capital expenditure of $1.5bn this year, compared with $910.6m in 2023

UAE - GCC visa free travel

ATM 2024: UAE reveals details of GCC’s Schengen-styled ‘Grand Tours’ visa

The GCC Grand Tours visa will allow tourists to spend more than 30 days in the region

Dubai says Q1 international visitors up 11% this year

Dubai says Q1 international visitors up 11% this year

The city reported 5.18 million international overnight visitors in Q1 2024

Wynn Al Marjan Island

New photos of UAE’s gaming destination: Wynn Al Marjan Island

Wynn Al Marjan is anticipated to be the first integrated gaming resort in the Middle East and North Africa region

EMIRATES-a350-aerial-atm2024

Mega upgrade: Emirates announces 9 destinations for new A350 aircraft

From Edinburgh in the UK to Ahmedabad in India, Emirates will be introducing its new A350 across a host of routes

Gulf Business May 2024 roundup: Mastercard, Supercar Blondie and more

The latest May 2024 edition of Gulf Business Magazine is now out and it is packed with interviews, features and insights

Mastercard

How Mastercard is driving financial inclusion in the Middle East

Mastercard’s chief operating officer for EEMEA region Khalid Elgibali tells us about how his company is innovating when it comes to cross-border and digital payments

NEOM, Saudi Red Sea Authority sign marine tourism MoU

NEOM, Saudi Red Sea Authority to formulate marine tourism regulations

The partnership seeks to implement and activate joint initiatives to advance research, deliver innovation and enhance the visitor experience

LOGICONNECT - women in tech platform

Advancing the cause of women in tech

A tech company takes the initiative to drive gender diversity in the industry

Tax strategies to help expand your business globally GettyImages-918061226

UAE corporate tax: Deadline alert

New corporate tax deadlines for businesses to start in May. Here’s what you need to know

Saudi Arabia’s Rasan to divest 30% stake via IPO

Saudi Arabia’s Rasan to lists 30% stake on local bourse

The fintech firm is offering 5.3 million new shares and 17.4 million existing shares to investors – equivalent to 30 per cent of the company’s paid-up capital

ATM events

May events at DWTC: Arabian Travel Market, AWS MENA Summit, CABSAT Middle East and more

The May lineup brings will enable businesses to engage and network in the heart of Dubai

Saudi Arabia posts SAR12.4bn deficit Q1 2024

Saudi Arabia posts budget deficit of SAR12.4bn in Q1 2024

Oil revenues reached SAR181.9bn, while total revenues were SAR293.4bn as non-oil revenues edged higher, although oil still dominates

Egypt-GettyImages-520265584-e1703142282632

Egypt braces for second summer of power cuts as gas supplies dwindle

Power cuts are hurting Egypt’s small businesses that play a crucial role in an economy where growth has slowed

Oil hovers near 3-week high on Middle East tensions

Oil nudges higher after Saudi Arabia hikes prices

Saudi Arabia raised the official selling prices (OSPs) for its crude sold to Asia, Northwest Europe and the Mediterranean in June

Sha Emirates Island

Sha Emirates by Imkan: Abu Dhabi’s island community dedicated to wellbeing

SHA Emirates will feature an international wellness clinic and residences that reflect a transformative approach to healthy living

Mubadala invests in Avanse

UAE’s Mubadala Capital plans $13.5bn biofuels investment in Brazil: FT

Mubadala’s asset management arm is expanding its presence in Brazil, venturing into sectors such as transportation infrastructure, education, and fast-food franchises

oil

India’s Reliance starts trading US oil setting Brent oil benchmark

The move by Reliance comes as India, the world’s third-biggest oil importer and consumer, is looking to diversify its oil supplies

Middle East and tackling food prices

World food prices up in April for second month, says UN agency

The FAO’s cereal index inched up to end a three-month decline, supported by stronger export prices for maize

oil

OPEC+ likely to extend oil production cuts in June: Insight

Oil inventories and prices close to the long-term average imply ministers are likely to decide to keep output unchanged, based on their behaviour in the past

Etihad significantly expands codeshare with Air France-KLM (Image: Supplied by Etihad)

Air France KLM adds flights to North Africa amid Middle East tensions

Airlines have suspended hundreds of flights to and from Tel Aviv, as well as some to Lebanon and Jordan since the outset of the war

Dubai’s RTA introduces new ‘Stadium’ bus station

RTA inaugurates new ‘Stadium’ bus station, improves bus routes

The bus station is designed to shorten travel times and provide seamless connections to other mass transit options

women occupy 10.8 per cent of board seats in listed UAE firms shows report -hr-GettyImages-1398963973

Women now hold 10.8% of board seats in listed UAE firms, reveals report

The report showed that while the UAE leads the region with women holding board seats, the overall picture for the GCC is less rosy

Growth in UAE’s non-oil sector accelerates in April

UAE’s non-oil business activity picks up in April, S&P Global says

The seasonally adjusted S&P Global UAE PMI dropped to 55.3 in April, the lowest reading since August 2023, and further eased from 56.9 in March