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CEO and board of directors

In the dark hours: 5 challenges haunting Middle East CEOs

A recent survey of over a hundred CEOs and board members in the Middle East highlights concerns about leadership attraction, development, and planning

Digital payments: Top transformative trends in the MENA region

Digital payments: Top transformative trends in the MENA region

Amazon Payment Services’ latest report is based on the quantitative data and insights from more than 100 executives responsible for payments in businesses across Saudi Arabia, the UAE and Egypt

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

OPEC sticks to global oil demand projections in monthly outlook report

OPEC sounded an upbeat tone on the economic outlook as well as future oil demand

Eid Al Adha holiday

Eid Al Adha 2024: When is the next public holiday?

The Day of Arafat, which precedes Eid al-Adha, is anticipated to be observed on June 15

Crypto Oasis sees ecosystem grow to 2,040 active firms in Q1 2024

Crypto Oasis sees ecosystem grow to 2,040 active firms in Q1 2024

Crypto Oasis said the 13.3 per cent year-on-year increase reflected the overall growth of the industry in the UAE

Natural gas

Mubadala Energy confirms significant gas discovery in Indonesia

The Tangkulo-1 discovery aligns with the company’s gas-focused strategy and serves as a significant milestone in the region’s development

Air Arabia reports a 22% decrease in Q1 profit

Air Arabia’s Q1 net profit plunges by 22%, despite network expansion

The carrier said the seasonality shift in Ramadan, higher fuel prices and currency fluctuations in key markets hurt its profit in Q1 2024

Rain Showers

UAE weather: Relief from soaring temperatures as NCM forecasts rain in days ahead

The weather agency has forecast intermittent showers for parts of the country

How AI will unfold in the future_GettyImages-1194176305

UAE releases new AI model Falcon 2 to compete with Meta, OpenAI

The Falcon 2 series come as companies and countries are racing to develop their own large language models following the 2022 release of ChatGPT by OpenAI

JAIS Visual

Core42 launches Jais Chat: An Arabic-English AI chatbot

At its core lies Jais 30B, touted as the world’s most performant Arabic Large Language Model

Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates airline and Group

Emirates Group announces best ever performance with profits up 71%

Emirates airline, the UAE’s flagship carrier, reported a new record profit of Dhs17.2bn

Shitij Kapoor. Image credit: Supplied - LCRE - Kempisnky The Boulevard penthouse

Downtown Dubai milestone: Kempinski The Boulevard penthouse sells for record Dhs80m

The penthouse, which boasts unparalleled views and lavish amenities, commanded an impressive price of Dhs10,715 per square foot

spice - Everest

Who are the two iconic Indian spice brands under scrutiny?

For decades, India’s spice makers MDH and Everest have been ubiquitous in kitchens around the world, with their products being essential ingredients in a range of preparations

Dubai and Abu Dhabi are rising in appeal for global talent shows BCG survey image getty images

Dubai, Abu Dhabi among most preferred by global talent, reveals report

The UAE outpaces global averages in attracting expatriates, particularly lauded for its prowess in innovation and digitalisation

oil

Goldman Sachs says OPEC+ unlikely to raise oil production at June meeting

Goldman still expects Brent crude futures to remain in a range of $75 to $90 a barrel in most scenarios

UAE real estate: Over 30,000 residential units to be delivered by year's end, says JLL

UAE real estate: Over 30,000 residential units to be delivered by year’s end

According to JLL, in Q1, around 10,000 units were delivered in Dubai and 1,600 in Abu Dhabi, marking strong growth in the UAE’s residential sector

DFSA says company licencing rose by 35% in 2023

Dubai regulator DFSA posts 25% increase in licencing in 2023

The financial regulator registered a 50 per cent year-on-year increase in licence applications across all business models

Energy firms SNOC, Eni to explore oil in Ras Al Khaimah

Sharjah’s SNOC, Italy’s Eni to explore oil in Ras Al Khaimah

Following the acquisition, Eni holds a 60 per cent stake of Block 7, SNOC 30 per cent and RAK Gas 10 per cent

Indonesia, UAE sign agreement to use of local currencies for trade

Indonesia, UAE sign agreement to use local currencies for trade

Dirham-rupiah trade is expected to reduce transactional costs for businesses while strengthening financial cooperation

Construction of $3bn UAE-Oman Hafeet Rail gets green light

A shareholder agreement among Etihad Rail, Oman Rail and Mubadala Investment Company has been signed to kick off the project

parkin

Parkin delivers maiden Q1 2024 results: Profits rise by 5%

Parkin reported that total revenue grew by 8 per cent, with public parking revenues up 11 per cent

Masdar, Iberdrola’s wind farm to start operations in Q4 2024

Masdar, Iberdrola install first wind turbine at Baltic Eagle wind farm

The wind farm, which is on track to start operations by the end of the year, will consist of 50 wind turbines built on monopile foundations

DEWA’s Q1 profit falls despite surge in demand

DEWA posts first-quarter loss, despite surge in demand

The company’s profit for the January-March period dropped to Dhs651m, compared to Dhs763m during the same period a year earlier

Egypt

Egypt: Foreign debt up $3.5bn in Q4 2023; inflation slows to 32.5% in April

Egypt promised the IMF in the March agreement it would resume tightening if necessary to prevent further weakening of its economy

Mubadala’s Fortress bid secures US regulatory approval

Mubadala Capital’s $3bn Fortress bid clears key US regulatory hurdle: FT reports

The approval comes as Mubadala agreed to let Fortress commit to keeping technology and data in the US

MITHRA METALS

MITHRA Metals expands global footprint with ambitious acquisition

The mining company’s strategic investment in ANS Exploration represents a proactive approach to identifying and collaborating with partners that exhibit promising growth prospects

Etihad’s Q1 profit surges to Dhs526m ahead of potential IPO

Etihad’s Q1 profit soars to Dhs526m ahead of potential IPO

The airline carried 4.2 million passengers in the January-March period, while passenger revenue came in at Dhs966m

Aldar issues second green sukuk image Aldar

Aldar issues second $500m green sukuk

The 10-year issuance marks Aldar’s second green sukuk, following its inaugural $500m sukuk issued in May last year

Dubai traffic flexible or remote work

Dubai plans flexible work hours, school bus incentives to ease traffic congestion

Flexible working hours and remote working options are also being considered as part of the strategy to reduce traffic congestion during peak hours

abu dhabi dark sky

How will Abu Dhabi’s ‘Dark Sky’ policy impact you?

The initiative is the first of its kind in the region and seeks to address the escalating concern of light pollution by presenting a blueprint for responsible lighting practices