IMF cuts Middle East growth outlook on geopolitical tensions

IMF cuts MENA growth outlook on geopolitical tensions, trade disruptions

Gulf economies are seen growing 2.4 per cent this year, a downward revision of 1.3 percentage points from October

Sochi added to flydubvai summer network

Flydubai cancels flights to Tehran

International flights into Iran’s Imam Khomeini International Airport have been cancelled

Emirates REIT reports highest even property income in 2023 Image courtesy- Deejpilot Getty Images

Real estate: Emirates REIT property income hits a record $74m in FY2023

Emirates REIT’s net property income surged by 12 per cent to $62m, driven by strategic asset performance optimisation

China Southern inaugurates flights from Beijing to Riyadh

China Southern launches new flights connecting Beijing with Riyadh

The new routes reinforce Saudi Arabia’s commitment to boost the growth of the travel and aviation sectors

rain- cloud - thunderstorms

‘Unstable weather system’ brings heavy rain to Saudi Arabia, Bahrain

Several parts of Saudi Arabia witnessed heavy rains and hail showers this week, prompting warnings from meteorology and civil defense authorities

UAE signs bilateral trade deal with Costa Rica

UAE signs bilateral trade deal with Costa Rica

The trade pact between the two countries is expected to enhance trade flows, increase private-sector collaboration, and provide new investment opportunities

emirates

Emirates, flydubai and Air Arabia resume check-ins for flights

While check-in services have resumed, operational challenges persist at DXB due to heavy rains experienced earlier in the week

Binance secures full VASP crypto licence in Dubai

CEO Richard Teng says Binance has secured a full licence to serve both institutional and retail investors out of Dubai

DEWA to operate 1,000 EV charging points by 2025

Dubai utility DEWA to expand EV charging network to 1,000 by 2025

The utility firm currently operates around 390 charging stations and work is underway to expand the network

Dubai Airport

Dubai airports recovery: Here’s what you need to know

The airport authority emphasised the need for passengers to arrive at Terminal 1 only if they have a confirmed booking

ADIB, Mubadala deal

Shares in Bank Syariah Indonesia jump as ADIB denies buy-in talks

The Indonesian bank’s share price rose on Thursday in trade despite denials from ADIB that it is in talks to acquire a 15 per cent stake

weather-uae-rains

UAE: Unstable weather system ends but public sector workers to continue remote work

On Wednesday evening, the NCM announced the “end of weather fluctuations,” following the worst rainstorm in the country in over 75 years

TAQA confirms talks with Naturgy shareholders on takeover

UAE’s TAQA confirms talks with Naturgy shareholders on takeover

The Abu Dhabi-listed firm said there was no guarantee a deal would happen and, if it were to, under what terms

NEOM reportedly considers debut riyal bond sale to fund projects

NEOM reportedly considers debut riyal bond sale to fund projects

The company has appointed banks including HSBC and the securities units of Al Rajhi Bank and Saudi National Bank to advise on the debt sale

Alpha Dhabi to divest 49 per cent stake in construction subsidiary to ADQ Image-courtesy-WAM

Alpha Dhabi to divest 49% stake in construction firm to ADQ

The collaboration will enable the entities to tackle complex, large-scale projects with a keen focus on safety, quality, and timely delivery

No cloud seeding conducted during latest UAE storm: NCM

Large storms are not prime targets for cloud seeding, the NCM has reiterated

Schools

UAE: Remote learning for schools extended for another two days

The extension of distance learning aims to ensure the safety and security of students and teaching staff

car insurance-home-insurance-rain

How to claim insurance due to rain damage: Understanding ‘force majeure’ clause

In light of weather-related damage caused to property and vehicles, it is important to understand the tools available to claim insurance

ADIB BANK

ADIB denies it’s in talks to buy $1.1bn stake in Indonesian bank

ADIB has denied that it’s in talks to buy a minority stake in Indonesia’s top Islamic lender

DEWA secure financing for Hassyan desalination plant

DEWA, ACWA Power secure financing for Hassyan desalination plant

The utility giant seeks to produce 100 per cent of desalinated water with clean energy and waste heat by 2030

Arada awards Dhs615m contracts for 565 housing units

Sharjah’s Arada awards Dhs615m contracts for 565 housing units

Construction on the project will begin immediately and all homes will be completed and handed over by the end of 2025

UAE-WEATHER-rain

NCM weather advisory for UAE: Cloud cover with rain to continue in some parts

The NCM forecast the likelihood of low clouds forming over the East coast, with possible rain clouds developing by afternoon

Masdar and EGA form alliance to work together on aluminium decarbonisation

Masdar, EGA join forces to drive aluminium decarbonisation

As part of the agreement, Masdar and EGA will collaborate on several fronts, including exploring joint development of renewable energy projects

Dubai-based Telegram to hit 1 billion users, says founder

The popular Telegram messaging app, which is headquartered in Dubai, currently has over 900 million users

Dubai SME incentives, services hit record Dhs233.4m in 2023

Dubai SME boosts growth with over Dhs233m worth of support in 2023

The organisation facilitated the establishment of 2,937 new businesses and provided support services to 1,186 Emirati entrepreneurs

Dar Al Arkan, ROSHN partner on SAR215m project in Sedra community

Dar Al Arkan, ROSHN ink deal on SAR215m project in Sedra community

Spanning 56,280 square metres, the project featuring villas will seamlessly blend modern amenities with Saudi heritage

dubai airport

Dubai Airports disruptions: flyDubai, Air Arabia flights cancelled, Emirates suspends checkin

The airport faces operational challenges amidst unprecedented weather conditions, disrupting flights and transportation services

PICS: Flooded roads, stranded cars amid massive UAE storm

A low pressure weather system that swept across the country on Tuesday caused widespread disruption

UAE's FTA introduces Taxpayer Charter, lists rights, obligations image FTA

UAE’s FTA introduces Taxpayer Charter, lists rights, obligations

The introduction of the Taxpayer Charter is part of the FTA’s broader efforts to enhance taxpayer awareness about the UAE tax system

Highest rain levels recorded in UAE since records began in 1949

Large storms, buoyed by a low pressure cell, swept into the UAE on Tuesday, sparking off widespread flooding