ADGM’s assets under management rose by 35% in 2023

ADGM says assets under management rose by 35% in 2023

A total of 102 asset managers, comprising investment firms and hedge funds, who manage 141 funds have set up shop in Abu Dhabi

EMIRATES - Sir Tim Clark is backing Boeing-Spirit merger

Sir Tim Clark backs Boeing-Spirit merger amid factory crisis

Emirates Airline President said Boeing should address its quality problems as quickly as possible with the undiluted attention of its board and top management

Egypt signs expanded $8bn loan deal with IMF

Egypt secures IMF deal after pound plunge, bumper rate hike

The central bank raised the overnight lending rate to 28.25 per cent and its overnight deposit rate to 27.25 per cent

New Dubai football stadiums design render Image WAM

Dubai unveils designs for two new 20,000-seater stadiums

The designs of both sporting facilities prioritise sustainability and smart city integration

Uptown Dubai JLT DMCC launches sustainability hub Image Dubai Media Office

DMCC unveils new hub to power ESG impact

The new ecosystem will pioneer environmental, social, and governance (ESG) best practices among DMCC’s member base of over 24,000 companies

UAE cuts visa process from 30 days to five

UAE unveils platform to expedite work, residency visa process

The first phase of the initiative will be implemented in Dubai and will be gradually expanded to other emirates

Etihad Rail and ADNOC to launch passenger train service in Abu Dhabi Image courtesy Etihad Rail

Sharjah to connect to Etihad Rail network with new station

The Sharjah passenger station will be strategically located near Sharjah University City

LEAP

Tech investments approach $13bn on Day 2 at LEAP 2024

The Riyadh Exhibition and Convention Centre in Malham witnessed the unveiling of investments aimed at supporting local start-up ecosystems

Etihad

Etihad readying for possible IPO reveals CEO Antonoaldo Neves

Etihad will publish a 2023 annual report by mid-April for the first time, including details of pandemic-related government support

5.5G

The reality of 5.5G technology: A game-changer in telecommunications

Huawei and Du signed a Memorandum of Understanding (MoU) to boost 5G-Advanced (5G-A) technology in the UAE

Etihad Airways carries 14 million passengers in 2023

Etihad Airways witnesses 40% yearly surge in passenger traffic

The airline reported a 2023 net profit of Dhs525m and a previously unreported 2022 net profit of Dhs92m

Oman to invest $31bn in tourism sector by 2040. Getty Images by Emran Omar

Oman to invest $31bn in tourism sector by 2040

In 2023, Oman received four million visitors, up from 2.9 million in 2022, a year-on-year rise of almost 38 per cent

RED SEA - YEMEN COAST - MAERSK

Tesla to Qatar Energy: How companies are responding to Red Sea tensions

From impacting the cost of freight to the cost of energy, tensions in the Red Sea are having a direct impact on global trade

Zoho CEO Sridhar Vembu

Zoho CEO Sridhar Vembu on big Saudi push, new data centres

Sridhar Vembu speaks to Gulf Business about his company’s launching of two new data centres in Saudi Arabia

Cloudflare co-founder Michelle Zatlyn

Cloudflare co-founder Michelle Zatlyn: ‘Middle East internet usage up 20%’

The Cloudflare co-founder says internet growth in the Middle East was 20 per cent in the last quarter of 2023, far higher than the global average of 5 per cent

Saudi Arabia’s PIF, Bahrain Mumtalakat to boost cooperation, investment

Saudi Arabia’s PIF, Bahrain Mumtalakat to boost cooperation, investment

The agreement aims to expand cooperation between the two parties and enable new and promising investment opportunities in Bahrain

How ADNOC generated $500m in extra value from AI solutions

How ADNOC generated $500m in extra value from AI solutions

The oil firm’s use of AI technologies abated up to one million tonnes of carbon dioxide emissions between 2022 and 2023

Instagram , Facebook - META -AI

Facebook, Instagram down for thousands in the UAE

The tracker’s UAE website showed over three thousand reports for Instagram and over six thousand reports for Facebook

RTA has inaugurated a new signalised junction at Al Majasimi intersection and Al Wasl Road, situated between Umm Suqeim Street and Al Thanya Street. Image RTA X

Dubai: Al Majasimi-Al Wasl Road upgrade to ease traffic

The widening of Al Majasimi Street from one lane to two lanes in each direction has doubled the road’s capacity to accommodate 1,200 to 2,400 cars both ways per hour

Emaar’s Dubai Mall welcomes 105 million visitors in 2023

Dubai Mall becomes most visited place in 2023, with 105 million visitors

The latest figures from Emaar Malls shows that a record 20 million people visited the mall in the first two months of this year alone

World gold council and DMCC sign agreement to advance UAE's gold sector Image Getty Images

World Gold Council, DMCC tie-up brightens UAE’s status as key hub

The partnership coincides with the official opening of WGC’s new office in Dubai, establishing its regional headquarters for the Middle East

LEAP 2024

LEAP 2024: AWS, IBM, Dell and other tech firms commit massive $11.9bn in investments

The announcement underscores Saudi Arabia’s position as a growing tech powerhouse in the region

Deloitte

Deloitte ME Growth Leader on Neo Banks, Saudi’s new regional office

We sat down for a chat with Deloitte on the sidelines of LEAP 2024 to know about their focus areas for the year ahead

DeepFest

TikTok, Zoom and Mohammad the Humanoid Robot headline DeepFest opener

At DeepFest, stakeholders are optimistic about the potential to expand, scale, and drive innovation in AI, underscoring Riyadh’s emergence as a key player in the global technology landscape

Investcorp leads Salla’s pre-IPO funding round

Bahrain’s Investcorp leads Salla’s $130m pre-IPO funding round

The fundraising had the participation of Sanabil Investment, a unit of Public Investment Fund, venture capital firm STV, and Salla’s existing shareholders

Aramex rolls out e-bikes, electrifies last mile delivery Image supplied

UAE: Aramex electrifies last-mile delivery with new e-bike fleet

The move comes after Aramex successfully launched electric vans in the UAE last year and Jordan in 2017

Dubai’s Parkin seeks to raise up to $429m from IPO

Dubai’s Parkin sets IPO price range of up to Dhs2.1 per share

The company will offer around 25 per cent stake, in the emirate’s first privatisation deal this year, giving it an overall valuation of up to Dhs6.3bn

shipping

Risk is the new normal in ocean shipping as Red Sea tensions reign: Experts

The Red Sea tensions have spurred cargo delivery disruptions and soaked up excess vessel capacity, raising global shipping costs

UAE RAIN

Heavy rains to lash UAE: NCM weather forecast

The weather authority cautioned motorists to venture out only if necessary during wet weather as well as follow safety practices

Italy Trade Commissioner

Italian Trade Commissioner on why the UAE loves ‘Made in Italy’

Highlighting the positive trends in the market, Soldani underscores the opportunities for trade and cooperation between the two countries