Dubai-Metro-1

Here’s what Dubai’s metro stations will look like in 2030

Dubai unveiled plans to expand its metro network, to cover over 228 square kilometres by 2040, as part of its ’20-minute city’ agenda

Dubai approves Dhs25bn in new investment incentives

Dubai announces Dhs25bn in new investment incentives

The foreign investment development programme is designed to attract Dhs650bn of investments to the emirate over the next ten years

OPEC projection for 2024 energy demand - oil

Oil prices climb on summer demand outlook

Recent data showed that oil production and demand for major products rose to a four-month high in April, supporting prices

Mohamed Alabbar - Eagle Hills Chairman

Eagle Hills expands footprint in Iraq, Croatia

Eagle Hills will develop the luxury community which will include a top-tier golf course, residential neighbourhoods, and a five-star hotel among other amenities

Saudi Aramco signs $25bn in contracts for gas expansion

Saudi Aramco awards $25bn in contracts for gas expansion

The development of the Jafurah field is expected to cost $100bn and boost the state energy firm’s gas production by more than 60 per cent by 2030

Qatar

Simaisma Project: Qatar announces mega-entertainment district

The Simaisma Project will incorporate cutting-edge construction technologies and utilise eco-friendly, locally sourced materials

DIFC breaks ground on DIFC Square

DIFC breaks ground on new real estate development

This ambitious venture, comprising three interconnected buildings, aims to meet the growing demand for premium office spaces and retail units

Influencer

What you need to know about Abu Dhabi’s social media influencer licence

The rules aim to ensure transparency and accountability in the fast-growing field of influencer marketing

Emiratisation UAE

MoHRE sets June 30 deadline for Emiratisation targets compliance

MoHRE commended the companies that have already met the required growth in Emiratisation

UAE FUEL PRICES - PETROL, DIESEL RATES

UAE announces fuel prices for July 2024: Petrol prices decrease, diesel slightly up

Since the implementation of the deregulation policy in 2015, the UAE has consistently updated its fuel prices on the last day of each month

KUWAIT-AL-ZOUR-REFINERY - KIPIC

Fire breaks out at Kuwait’s Al Zour refinery, production unaffected: KIPIC

There were no casualties and firefighters were working on containing the fire, officials said

ARAMCO-RENAULT-GEELY

Aramco to buy 10% stake in Renault-Geely thermal engines venture

Renault CEO Luca de Meo described the deal as creating a “dream team” that would “reinvent” the future of combustion-engine and hybrid technologies

Egypt - WHEAT - BRICS

BRICS countries back grain exchange idea, Russia says

The exchange would allow buyers to purchase directly from producers

Brookfield Solano County California

UAE’s Masdar bids for Brookfield’s Spanish renewables unit: Reports

Brookfield bought the company from Spanish construction group ACS for EUR1bn in 2018

Co-ownership Dubai Shard

Transforming property investment in Dubai: Shard’s co-ownership model explained

Shard’s CEO tells Gulf Business that its co-ownership model offers a pathway to affordable luxury living in Dubai’s booming property market

UAE cuts Friday sermon to 10 minutes due to sweltering heat

UAE cuts Friday sermon to 10 minutes due to sweltering heat

The directive by the General Authority for Islamic Affairs, Endowments, Zakat (AWQAF) took effect on Friday, 28 June, and will last until early October

SAINT-GOBAIN FOSROC

Saint-Gobain agrees to buy Dubai-based FOSROC in all-cash deal

Since 2021, the Paris-based multinational has bought 35 companies

DBS, Mashreq partner to boost cross-border payments

Singapore’s DBS, Mashreq join forces for same-day cross-border payments

The service will enable Mashreq’s retail customers to make peer-to-peer global payments in select markets across Asia, Europe and the Americas

Dar Global

Saudi developer Dar Global eyes $300m US expansion

Dar Global hopes to sell at least half of the homes in its US developments to non-US buyers

Aramco

Aramco close to agreeing 10% stake in Renault, Geely thermal engines JV: Report

The energy giant signed a letter of intent in March 2023 with a view to possibly becoming a minority shareholder in the JV

Abu Dhabi luxury developments

Abu Dhabi’s luxury real estate boom: 9 projects to watch

The emirate’s luxury real estate market is on an upswing with a wave of high-end developments set to redefine city living

Manhattan Beekman Place Qatar

Qatar lists its Beekman Place townhouse in Manhattan for $32m

Built around 1910, the 7,300-square-foot property boasts five bedrooms, two terraces, and a rooftop garden

Saudi Arabia: ACWA Power, Badeel, SAPCO sign PPAs for major solar projects

The development of Saudi Arabia’s renewable energy sector is a core objective of Vision 2030, the kingdom’s blueprint for a modern, diversified economy

Saudi Arabia’s Tadawul completes acquisition of 32.6% stake in DME Holdings

Saudi Arabia’s Tadawul completes acquisition of 32.6% stake in DME Holdings

The investment will accelerate the Gulf Mercantile Exchange’s growth as a regional commodities leader well-positioned to capture global commodity demand

Fourth Milling Company plans to list 30% stake in IPO

Saudi Arabia’s Fourth Milling Company plans to list 30% stake in IPO, CMA says

The company was part of a wider privatisation programme under Saudi Arabia’s Vision 2030 strategy aimed at diversifying the oil-dominated economy

UAE to announce petrol prices for July: will rates drop further?

UAE to announce petrol prices for July: will rates drop further?

The fuel price committee slashed the retail prices for Super 98, Special 95, and E-Plus 91 by 20 fils per litre compared to the previous month

Rivian

Volkswagen’s $5bn investment in Rivian signals future EV collaboration trends

Rivian will form an equally controlled joint venture with Volkswagen to share EV architecture and software

LME

LME undertaking consultation around Saudi expansion: Report

London Metal Exchange will undertake consulting on the final rulemaking around the Jeddah expansion, but said it remains positive on that initiative

Lubambe copper mine - IHCv - Vedanta

Vedanta in talks with IHC unit, investors for Zambian copper stake sale

Vedanta could sell up to 30 per cent of its shareholding in the Konkola assets

Oracle Mashreq

Mashreq Bank to roll out Oracle’s core banking system globally

With Oracle’s common data platform, Mashreq said it will also have the infrastructure needed for advanced analytics, compliance, and strategic decision-making