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UAE

Dubai DXB

Around 1.9 million travellers to pass through Dubai’s DXB from Apr 29 until May 9

May 7 is expected to be the busiest day for Dubai International with passenger numbers surpassing the 200,000 mark

Eid Al Fitr protocols

UAE announces protocols for Eid Al Fitr

Worshippers must wear face masks at all times, maintain physical distancing of one metre and use personal or single-use prayer mats

Dubai Islamic Bank

Dubai Islamic Bank posts 58% rise in net profit for Q1 2022

The bank’s total income reached Dhs3.01bn, recording growth of 6 per cent year-on-year compared to Dhs2.84bn achieved in Q1 2021

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council

Sheikh Hamdan approves launch of Dhs370m Venture Capital Fund for Startups in Dubai

It will be governed by the Dubai International Financial Centre, which is also a 15 per cent contributor to the fund

Oil exporters bagging $818bn windfall are cautioned by IMF

The IMF said it expects the bonanza “to improve fiscal and external balances” in a region that includes 13 exporters in total

freezones

Contribution of Dubai freezones to emirate’s GDP to reach Dhs250bn by 2030

The projections were made during a meeting of the Dubai Free Zones Council chaired by Sheikh Ahmed bin Saeed Al Maktoum

KFC Operator

Middle East KFC operator picks banks for dual listing

Americana operates restaurants for brands including Baskin Robbins, Costa Coffee and TGI Fridays as well as KFC and Pizza Hut, according to its website

Aldar

UAE’s Aldar reports Dhs688m net profit in Q1 2022

Revenues stood at Dhs2.68bn in Q1 2022, a year-on-year growth of 31.5 per cent

Covid-19

UAE reports 212 Covid-19 cases, 333 recoveries

The nationwide case count has scaled to 897,770

TA’ZIZ, Reliance Industries Limited

UAE’s Ta’ziz, Reliance sign agreement for Ruwais chemicals project

These chemicals will be produced in the UAE for the first time creating new revenue streams and opportunities for local manufacturers

arabian travel market

Arabian Travel Market 2022 edition in Dubai to feature over 1,500 exhibitors

Beginning on May 9 at the Dubai World Trade Centre, it expects to receive around 20,000 attendees

E-Scooter permits

RTA to open online applications for e-scooter permits in Dubai

The applicant should not be under the age of 16 and will need to undergo a training course on the RTA’s website

National Bank of Fujairah

National Bank of Fujairah posts 43.7% rise in net profit for Q1 2022

The bank’s operating income for Q1 2022 reached Dhs412.8m, up 14.6 per cent compared to compared to Dhs360.2m recorded during a year-earlier period

Emirates to add extra flights

Dubai’s Emirates to add extra flights, more seats across GCC, Middle East

Customers can purchase tickets on the carrier’s website, at its sales offices or via travel and online travel agents

UAE reports 207 Covid-19 cases, 336 recoveries

The nationwide case count has scaled to 897,558

New Takaful provider

Dubai, Abu Dhabi companies to merge to create new Takaful provider

The merged company would benefit from cross-selling opportunities via increased geographic footprint and via capitalising on larger underwriting capacity

Schools

Eid Al Fitr holidays announced for schools across Dubai

Schools in the emirate will remain closed from Monday, May 2 until Sunday, May 8

air arabia gujarat

Air Arabia Abu Dhabi to begin flights to Indian city in Gujarat

It represents the seventh city in India that Air Arabia Abu Dhabi will connect with direct services

Expo 2020 dubai sme

Expo 2020 Dubai awarded SMEs contracts worth Dhs6.8bn

It represents over a quarter of all Expo 2020 Dubai contracts in terms of value

Swvl

Swvl buys Turkish transit firm Volt Lines in latest deal spree

Volt Lines serves customers and corporate clients in Turkey with an alternative to public transportation and personal ride-hailing services

damac metaverse

UAE’s Damac Group to invest $100m in metaverse project

Damac has established a new division called D-Labs which is led by Ali Sajwani and dedicated to the metaverse initiative

UAE reports 215 Covid-19 cases, 358 recoveries

The nationwide case count has risen to 897,351

Rainfall

UAE weather update: Overcast conditions, rainfall expected for rest of the week

The UAE recorded its lowest temperature of 20°C at the Ras Al Khaimah International Airport at 5am local time today

DIFC Courts

Sheikh Maktoum approves three-year Dubai International Financial Centre Courts Strategic Work Plan

It includes 28 projects with a specific push on digital transformation measures of services and procedures

Adnoc

Adnoc, Borealis seek $2bn from IPO of plastics JV

The state-owned energy company and Austrian chemicals producer plan to sell a 10 per cent stake in their Borouge plastics unit by the end of the quarter

by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai

Sheikh Mohammed approves Dhs6.3bn housing package for Emiratis in Dubai

The development of a new housing complex in Al Khawaneej area 2, which will include 1,100 residential villas, was also approved

Suez Canal Economic Zone

UAE’s Masdar signs agreements to develop green hydrogen plants in Egypt

Egypt hosts abundant solar and wind resources that enable renewable power generation at competitive costs

How to measure your path of productivity

It’s not about how much you do, but it’s about doing the right thing at the right time

zero watse

Hastening the UAE’s journey to zero waste

A good way to encourage recycling and composting is to make it expensive to put things in landfill

Covid-19

UAE reports 259 Covid-19 cases, 396 recoveries

The nationwide case count has risen to 896,631