Ghitha Holding acquires 44 per cent stake in MNG Airlines Image Supplied

IHC’s Ghitha Holding acquires $211.2m stake in MNG Airlines

The acquisition strengthens Ghitha’s logistics and aviation, cementing its leadership in the regional food trading sector

Saudi Arabia’s Crown Prince announces design for ‘The Line’ in Neom

From Aquellum to Zardun and now Xaynor: 12 futuristic real estate megaprojects under NEOM

The projects being developed under NEOM offer a glimpse of what futuristic developments could look like in Saudi Arabia

Microsoft and DET sign deal to drive innovation in Dubai GettyImages

Dubai, Microsoft partner to power emirate’s digital economy

The joint effort will focus on logistics, technology enablement and adoption within the SME and education sectors

Sheikh Hamdan attends groundbreaking ceremony of the Hamdan Bin Rashid Cancer Hospital, part of @DubaiHealthae the hospital which is set to open in 2026 image courtesy www.hamdan.ae

Dubai breaks ground on landmark cancer hospital

The cancer hospital slated to open in 2026 marks a significant step toward providing advanced and accessible treatment for the disease in the UAE

ADDED, UK’s HYCAP to set up clean energy industrial complex

ADDED, HYCAP Group to build clean energy industrial complex in Abu Dhabi

The complex will specialise in industries related to hydrogen and the advancement of renewable energy sources

Abu Dhabi waterfront

Abu Dhabi property market: From Al Reef to Saadiyat Islands – 5 areas to track

While there was an increase in sales prices in several areas driven by high demand, this trend was particularly noticeable in upscale neighbourhoods offering high-end amenities

Dubai real estate

Dubai real estate powers through January 2024 with Dhs35bn in sales

Off-plan sales grew by 25 per cent year-on-year in January as Dubai’s real estate sector continued to perform well in the new year

UAE jobs in demand

UAE jobs in demand 2024: Top 10 skills in shortage

Skills shortage could see organisations in the UAE, “invest significantly, as well as in a range of innovative approaches to attract the best candidates”

Aster DM Healthcare

Abu Dhabi imposes Dhs1m fine, closes 8 health centres

The healthcare regulator closed four home care facilities due to their failure to comply with its standards and regulations

WhatsApp

Here’s how to join Gulf Business’ new WhatsApp channel

Expect real-time updates, exclusive interviews, industry analysis, and more, all delivered to your WhatsApp

AD Ports, Karachi Port Trust expand operations in Pakistan

UAE’s AD Ports signs 25-year concession deal with Karachi Port Trust

Karachi Gateway Terminal Multipurpose, a joint venture between AD Ports and Kaheel Terminal, will take over East Wharf’s existing operations as part of the deal

Sir Tim Clark Emirates Airlines - Boeing

Sir Tim Clark says Boeing in ‘last chance saloon’ — FT report

Clark made the comments to the Financial Times as he is reportedly preparing to send Emirates engineers to Boeing to oversee its 777 production lines

PIF launches ALAT a tech firm getty images

Alat: PIF’s new advanced tech firm to drive economic shift

Alat aims to create 39,000 direct jobs in Saudi Arabia by 2030, and achieve a direct non-oil GDP contribution of $9.3bn by the same year

Sheilkh Mohamed extends year of sustainability to 2024 GettyImages-1235290287-e1701427465565

UAE: Sheikh Mohamed extends Year of Sustainability into 2024

The announcement reaffirms the nation’s commitment to establishing a sustainable and prosperous future for its people

cycling - Tour de France 2020

Saudi Arabia’s PIF closes in on deal to create new cycling league

The venture, which may amalgamate new and existing races, is being led by a handful of teams including Visma-Lease a Bike and billionaire businessman Jim Ratcliffe’s Ineos Grenadiers

NWTN facility at KEZAD

Dubai-linked EV deal paused amid China Evergrande liquidation

China Evergrande New Energy Vehicle has suspended negotiations regarding a share subscription agreement with Dubai-based mobility firm NWTN

Abu Dhabi Commercial Bank - ADCB

UAE bank ADCB Q4 net profit jumps 38%, beats forecasts

Net interest income in the fourth quarter increased by 17 per cent year-on-year to Dhs3.41bn

Red Sea shipping

Red Sea tensions to drive ocean freight shipping rates up by 243%

While the situation remains volatile and subject to change, the newly-released data is best indication of where the market is headed

Oil rig - OPEC

OPEC+ leaves oil production levels unchanged, to review production cut extension in March

OPEC said its “committee will continue to monitor” countries’ conformity with output decisions

business

What is the average salary increase in the UAE in 2024?

More than one-third of companies have plans to raise wages by up to 5 per cent

AI

5 ways in which GenAI will change your work life in 2024

The trends of 2024 will shape a future, where AI is not just a tool, but a fundamental part of the GenAI experience

BRICS - SAUDI ARABIA

In or out? Saudi Arabia ‘still considering’ BRICS offer

The kingdom of Saudi Arabia is said to be still considering an invitation to join the expanding economic bloc

Sheikh Mohammed - bureaucracy

Zero red tape: Dubai’s Sheikh Mohammed eyes slashing bureaucracy

The programme will work to reduce the duration of government services by 50 per cent and re-engineer hundreds of government services

red sea

Russian oil flows through Red Sea still face lower risks

Recently, four tankers carrying Russian Urals crude passed through the Bab-el-Mandab strait with another three heading south through the Red Sea

oil refinery

OPEC oil output sees biggest monthly fall in January: Trend watch

OPEC oil output in January registered the biggest monthly drop since July, as several members implemented new voluntary production cuts

GCC markets update

GCC markets update: QE, DFM and Tadawul

Follow our live blog below to stay abreast of news and updates across the GCC markets

BRICS: Dubai ranks 3rd among top 10 wealthiest cities, see full list here

Dubai lives up to its reputation as the ‘City of Gold’, hosting 72,500 millionaires, 212 of whom are centi-millionaires and 15 billionaires

saudi arabia GDP

Saudi Arabia’s real GDP contracts 3.7% Q4 2023

The preliminary data shows that Saudi Arabia’s economy contracted at a slower pace in Q4 2023 after a decline of 4.4 per cent in the previous quarter

7x - emirates post

7X: Emirates Post reveals new corporate identity

The nomenclature ‘7X’ represents seamless connectivity of the seven emirates to the seven continents and across the seven seas

UAE winter rain hits Dubai and other emirates. Image Getty Images Karim Sahib

UAE braces for rain and wind: Three-day weather forecast

Motorists are advised to adhere to speed limits, refrain from sudden braking, maintain a safe following distance, and pull over if visibility is impaired