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OPEC

OPEC+ sticks to small supply hike as EU eyes Russia oil ban

OPEC and its allies rubber-stamped the standard 432,000 barrel-a-day increase for June

union properties

Shareholders of Dubai developer Union Properties approve continuity of company

The company board affirmed its support for legal action against the previous management

Flydubai

Flydubai to operate flights to select destinations from Dubai World Central from May 9

Passengers travelling from DWC will enjoy complimentary parking at the airport

Covid cases August 12

UAE reports 196 Covid-19 cases, 301 recoveries

The nationwide case count has risen to 899,637

Dubai

Dubai saves 2.2 TWh of electricity, 5.6 billion gallons of water in the past decade

Savings in the commercial sector between 2012 and 2021 amounted to 1.3 TWh of electricity and 2.5 billion gallons of water

Museum of the future

Emirates unveils Dubai’s Museum of the Future livery on A380s

The airline will unveil the special livery on a total of 10 A380 aircraft, which will in turn fly to around 30 destinations over the coming year

UAE Central Bank

UAE Central Bank raises base rate by 50 basis points

The base rate suggests the general stance of the Central Bank’s monetary policy

Seha

SEHA appoints Saeed Jaber Al Kuwaiti as new group chief executive officer

Al Kuwaiti will be responsible for providing strategic leadership across the SEHA network

Crude oil japan

Japan increases crude oil imports from the UAE

Japan’s total oil imports in March amounted to 89.15 million barrels, compared to 78.51 million barrels in February

Emirates Bali

Dubai’s Emirates resumes flights to Bali

The resumption of services to Bali, comes with the easing of international travel restrictions, and ramping up of global operations

Dubai's Virtual asset

Dubai’s Virtual Assets Regulatory Authority enters the metaverse with Sandbox HQ

As the world’s first regulator to make its debut in the metaverse, VARA aims to ensure that the regulator is accessible to its industry in their environment

waste to energy

UAE’s first waste-to-energy plant to produce 30MW of low-carbon electricity annually

The Sharjah Waste to Energy plant will help divert up to 300,000 tonnes of unrecyclable waste away from landfills each year

Ras Al Khaimah Airventure

Ras Al Khaimah offers new hot air ballooning experience

The RAK Airventure attraction is open daily at Manar Mall and is part of the emirate’s sustainable tourism initiatives

Emirates

Free Dubai Marina cruise for Emirates boarding pass holders this month

The airline has announced several new offers across retail, dining and tourist attractions in the emirate with the My Emirates Summer Pass

Sacha Jafri on the Burj Al Arab Jumeirah Helipad

Artist Sacha Jafri on UNESCO World Heritage sites, NFTs and sending art to the Moon

He discusses the breadth of his projects this year, from a piece that will be placed for eternity on the Moon, to an exhibition that pays tribute to this planet’s UNESCO World Heritage sites, and also an NFT-linked project that celebrates the legacy of Expo 2020 Dubai

Flydubai

Flydubai adds Izmir to its network

With the addition of Izmir, flydubai’s network in Turkey will grow to four points, including Ankara, Istanbul Sabiha Gökçen Airport and Istanbul Airport

Nasdaq Dubai

Islamic Development Bank lists $1.6bn sukuk on Nasdaq Dubai

The new listing brings the total value of Sukuk listed in Dubai to $77.5bn

International Space Station

UAE to send Emirati astronaut to International Space Station for six months

On board the International Space Station, the Emirati astronaut will conduct a series of advanced experiments

EFG HERMES - gcc economy - sector

UAE, London IPOs planned for Africa Finance’s infrastructure projects

The Nigerian banking group aims to combine assets in renewables, ports and industrial parks and offer them to investors through initial public offerings

Covid-19 cases

UAE reports 265 Covid-19 cases, 368 recoveries

The nationwide case count has risen to 898,310

Dubai Financial Market

Dubai Financial Market Company posts 17% rise in net profit for Q1 2022

The company’s total consolidated revenue surged by 7 per cent to total Dhs78.6m in Q1 of 2022 compared to Dhs73.4m during the first quarter of last year

Petrol prices

UAE reduces petrol prices for May 2022

However, the price of diesel has been raised from Dhs4.02 in April to Dhs4.08 per litre

Dubai Robotic

Dubai to open UAE’s first robotic biobank in 2023

A biobank is a place to store all types of human biological samples, such as blood, tissue, cells, or body fluids

RTA

Dubai announces free parking during Eid Al Fitr

The RTA has said that paid parking will resume in Dubai from Saturday, May 7

Abu Dhabi

Abu Dhabi’s tourist attractions and events can now operate at full capacity

It has also approved an extension of the green pass validity period on the Al Hosn app from 14 to 30 days for those who are fully vaccinated

Covid-19 cases

UAE reports 275 Covid-19 cases, 334 recoveries

The nationwide case count has risen to 898,045

Air Arabia Abu Dhabi

Air Arabia Abu Dhabi to start new route to Manama

The new service represents the 22nd route for the carrier since the launch of its service from Abu Dhabi International Airport in July 2020

FAB

Q1 2022: First Abu Dhabi Bank reports highest ever quarterly net profit

The lender’s quarterly group net profit, equalling Dhs5.1bn, rose 107 per cent year-on-year from Dhs2.5bn recorded in Q1 2021

AD Islamic bank

Abu Dhabi Islamic Bank to set up asset management firm

The Shariah-compliant lender is also continuing to look at organic and inorganic growth opportunities for its banking business