Core42, AIREV unveil OnDemand AI operating system image: Getty IMages/ For illustrative purposes

Core42, AIREV unveil OnDemand AI operating system

OnDemand’s blend of advanced infrastructure and innovative AI solutions aims to transform AI application development and deployment, both regionally and globally

OPEC Fund approves over $500m in new global development support

OPEC holds firm on 2024 oil demand outlook, anticipates strong travel season

OPEC’s report points to an oil supply deficit in coming months

Lilium air taxi -X

Air taxi firm Lilium wins big order from Saudia: Reports

The eVTOL firm’s commercial order pipeline is over 780 aircraft

summer weather

UAE weather: 50.8 degrees C temperatures followed by hail, rain showers

The NCM issued a yellow alert in some areas of Abu Dhabi advising residents to remain vigilant when outdoors

Aramco

Saudi Aramco set to raise $6bn from three-part bonds

Demand for the three tranches topped $31.5bn, drawing over $11bn for each of the 10- and 30-year tranches and more than $9.5bn for the 40-year bonds

DAMAC to invest $1bn in data centres, expand in Saudi

DAMAC Group ramps up AI investments with $50m Anthropic deal

The investments are part of the conglomerate’s broader strategy to advance digital infrastructure and support the tech transitions

food - Workers organise a watermelon stall at a fresh produce market in Dubai on March 21, 2023 ahead of the Muslim holy fasting month of Ramadan. (Photo by Karim SAHIB / AFP) (Photo by KARIM SAHIB/AFP via Getty Images)

Dubai to develop ‘world’s largest’ fresh food hub

The planned logistics hub aligns with the Dubai Economic Agenda (D33), which aims to double the size of the emirate’s economy to $8.7tn, by 2033

Indonesia’s $2.35bn Sukuk listed on Nasdaq Dubai

Indonesia lists three sukuks worth $2.35bn on Nasdaq Dubai

The new listings bring the Southeast Asia nation’s total value of issuances listed on the exchange to $24.1bn

RTA

Watch: RTA unveils AI-powered detection system for Dubai’s roads

The smart vehicle boasts several advanced features that improve the detection of road conditions and the inspection of traffic diversions

Yasunori Ogawa CEO of Seiko Epson Group IMage: Supplied

Efficiency, innovation and precision power Epson’s success, says CEO

Seiko Epson Corporation’s CEO and president Yasunori Ogawa shares insights on its strategies, successes and plans, with a special focus on the Middle East market

Global energy firms take 40% stake in ADNOC LNG plant

ADNOC’s Ruwais LNG sells 40% stake to Shell, Total, BP, Mitsui

The state energy giant said it now has buyers lined up for 70 per cent of the plant’s 9.6 million-tonne annual production capacity

Saudi Arabia places order for four Airbus A330 MRTTs

Saudi Arabia turns to Airbus for four new military aircraft

The order includes a logistics support package with spare parts, training services and service support for the new four aircraft

combustion engine cars

Combustion engines aren’t going away anytime soon, says Saudi Aramco

The transition to EVs is creating an opportunity that Saudi Aramco aims to capitalise on

Nuisance cold callers to face Dhs150k fines in UAE from August 27

Errant telemarketers in the UAE will face steep fines if they fail to comply with a set of new federal regulations.

Ritz-Carlton Reserve to launch in UAE on Ramhan Island in 2029 Image: Supplied

First Ritz-Carlton Reserve in UAE to launch on this island

Ritz-Carlton Reserve currently includes only seven properties in destinations such as Saudi Arabia, Thailand, Indonesia, Puerto Rico and Mexico

Saudi Arabia raises $12.35bn from Aramco’s share sale

Saudi Arabia raises $12bn from Aramco’s share sale

The government sold a 0.64 per cent stake in Aramco last month, with an additional 154 million shares available for stabilising manager Merrill Lynch

Dubai real estate

Unstoppable? Dubai’s property market surges 30% in 2024

Dubai’s high rental yields, easy real estate financing, and accessible residency visas are factors driving property ownership over renting

Aramco - oil supply to China

Saudi crude oil supply to China to rebound in August, regain market share

Saudi exports to China had tumbled in June, to 1.12 million barrels per day, the lowest since March 2020

Yaser Shabsogh, VP Commercial Operations at Kia MEA

Kia MEA’s VP on factors driving the auto brand’s regional growth

The VP of Commercial Operations at Kia Middle East says the company’s mid to long-term business strategy will heavily focus on electrification, which is reflected in its updated annual 2030 sales target of 4.3 million units

Riyadh Air, Delta Air Lines unveil strategic partnership

Riyadh Air partners with Delta Air Lines to expand global network

The deal includes interline and codeshare connectivity, enhanced loyalty programs, improved customer experience and digital transformation initiatives

Egypt-GettyImages-520265584-e1703142282632

Egypt’s SKG signs $500m real estate development deal with UAE’s KSH

The deal includes three residential towers and a five-star hotel in an area overlooking the Nile’s Warraq Island

Saudi freezes rents in Riyadh for 5 years: Inside the boldest housing reform

Riyadh ranks among the top 15 fastest-developing cities, shows index

Riyadh is the only non-Asian city featured in Savills Growth Hubs Index and its potential is linked to a forecasted 26 per cent population growth

Sir Keir Starmer’s grammar school to open campus in Sharjah

Keir Starmer’s old school, Reigate Grammar, is opening a new campus in Sharjah’s Masaar megaproject.

How Pure Gold is crafting Dubai’s real estate legacy

Karim Merchant: Crafting a lasting legacy in Dubai’s property market

Pure Gold Group’s managing director and CEO shares how he’s leveraging the group’s 35 years of history to shape a legacy in Dubai’s booming real estate market

Dubai Green Spine Image courtesy Urb

Dubai’s 64km Green Spine: Solar-powered trams, 300MW system touted for E311 route

At the core of the Dubai Green Spine project are 100 per cent solar-powered trams, supported by a substantial 300-megawatt solar energy system

retirement

5 strategic steps to help you achieve an early and a secure retirement

Regular saving, prudent spending, and smart investing not only boost your retirement fund but also enhance your overall financial health

Agthia expands footprint with new Saudi facility

Agthia expands footprint with Dhs90m manufacturing facility in Saudi Arabia

The new facility underscores the group’s strategic vision to tap into the vast growth opportunities in the GCC region’s largest market

Dubal and BiOD to support circular economy. Image for illustrative purposes Getty Images

DUBAL Holding acquires equity stake in BiOD Technology

BiOD Technology is known for converting used cooking oils and palm oil mill effluent into clean biodiesel

Santos

Saudi Aramco refutes speculation on Santos bid

Adelaide-based Santos is among Australia’s top three producers of liquified natural gas

Murban

Record-breaking trading activity for UAE’s Murban Crude

The platform’s extensive reach allows investors from multiple jurisdictions to participate in trading the Murban Crude oil futures