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UAE banking sector savings deposits

Savings deposits in UAE banking sector hit $71.6bn in March

The central bank said savings deposits in the UAE banking sector jumped 4.7 per cent year-on-year compared to Dhs251.3bn in March 2022

Commercial Bank of Dubai green bonds issuance

Commercial Bank of Dubai raises $500m from debut green bonds

The proceeds from debut green bonds will be used to finance projects eligible under CBD’s Sustainable Financing Framework

Massar Solutions

UAE-based fleet management firm Massar Solutions launches operations in Saudi Arabia

The decision to expand into Riyadh aligns with the company’s vision of providing vehicle leasing, rental, logistics and automotive technologies to government and consumer markets

Veolia-led consortium secures funding for hazardous waste treatment plant

Veolia-led consortium secures funding for hazardous waste treatment plant

Veolia will lead the waste management operations, leveraging its comprehensive expertise in hazardous waste treatment chain

Habtoor tower

Provident Real Estate awarded exclusive rights to launch and sell Habtoor tower

The Habtoor Tower will house 1,701 units spread across 3.5 million square feet

Emaar Unveils The Oasis by Emaar image Emaar

Dubai’s Emaar unveils stunning new $20bn luxe lifestyle destination

A waterfront luxury development, The Oasis by Emaar offers large mansions and villas with stunning views of lakes and canals

Dubai Customs prepare for return travellers

Dubai Airports has taken these steps to help Hajj travellers

Hajj travellers have been advised to ensure the validity of all their travel documents, including passport, Emirates ID, and Hajj permit prior to arriving at the airport

Ali Sajwani MD operations and tech DAMAC Group Image Mark Mathew MMG

Cover feature: DAMAC Group’s Ali Sajwani on the company’s journey of transformation

The group’s managing director – operations and technology shares the next chapter of growth planned for the Dubai-based conglomerate 

Modon Properties Al Hudayriyat Island image credit Modon Properties

Abu Dhabi unveils masterplan for Al Hudayriyat Island project

Over the next 18 months, Modon Properties will be focusing on the construction of enabling infrastructure for Phase 1 in line with the project’s approved plan

UAE, Kazakhstan trade credit agencies sign an MoU

UAE, Kazakhstan export credit agencies sign agreement to boost trade

The two entities agreed to form a task force to explore more opportunities for cooperation, with a focus on seven strategic areas

etihad rail

Etihad Rail shows how it links key transport hubs across seven emirates: Watch

The rail network stretches across the UAE, connecting Fujairah in the east to Al Ghuwaifat in the west

Masdar ceo on green bonds

Masdar plans first green bonds sale ‘within weeks’

The green bonds sale will help fund an effort to boost renewable energy generation capacity five-fold by the end of the decade

Zayed Naional Museum announces Dhs1m fund to support reseacrh into UAE culture Image DCT Abu Dhabi Zayed National Museum

New Dhs1m research fund launched, supports study of UAE history, culture

Applications will be reviewed by a panel compromising representatives from Zayed National Museum and the Department of Culture and Tourism – Abu Dhabi

Abu Dhabi gaining appeal among global HNWIs GettyImages-665435021

Abu Dhabi real estate gaining popularity among global HNWIs: Knight Frank

According to Knight Frank’s survey, 45 per cent of global HNWIs indicated that the emirate’s development plans enhanced its appeal as an investment destination

DEWA transmission substations

DEWA invests $151m in 6 new 132/11 kV transmission substations

The project included 3,450 metres of 132kV ground cable to connect with the main transmission network

Image Courtesy: Salik Twitter

Dubai’s Salik warns investors against ‘high-return’ scams on social media

The toll operator has advised the public to exercise caution and vigilance when being targeted by such offers

Emiratisation

Deadline extended for companies to meet Emiratisation targets

Non-compliant companies will face Dhs42,000 fine for each Emirati not employed, based on the 1 per cent semi-annual Emiratisation growth requirement

Ecity - Cartlow sign agreement Image credit Cartlow

Cartlow, E-City launch sustainable device subscription programme

The initiative provides customers with affordable and convenient options to prolong the life cycle of their devices and reduce electronic waste

JEPLAN and Rebound to collborate Image credit Rebound

UAE’s Rebound, JEPLAN to jointly explore set-up of recycle PET market in the UAE

Through a joint study, the companies will seek the participation of partner companies in the UAE to establish a supply chain for recycled PET in the UAE

UAE-India CEPA talks

UAE-India CEPA impact: Bilateral non-oil trade reaches $50.5bn

The CEPA came into effect on May 1, 2022, and was the UAE’s first-ever bilateral trade deal

UAE seeks to bolster economic, investment ties with South Korea

UAE seeks to bolster economic, investment ties with South Korea

The two countries agreed on new plans in the field of entrepreneurship, including programs and facilities to foster startup growth

NymCard acquires BNPL firm Spotii

NymCard acquires Middle East BNPL firm Spotii

The integrated platform will serve both B2C and B2B markets seamlessly, enabling instant instalment options

UAE-UKRAINE TALKS

UAE delegation led by Mariam bint Mohammed Almheiri meets Ukraine’s president

The UAE’s Minister of Climate Change and Environment is leading a diplomatic delegation on an official visit to Ukraine

B Store launched by AstraTech Image Astra tech

Now pay for groceries using facial recognition at Astra Tech’s new B Store

Astra Tech has launched its first autonomous shopping store in Abu Dhabi’s Sky Tower, which operates solely using artificial intelligence

Ukraine seeks UAE support.

Ukraine counts on UAE wealth funds to build its economy

Ukraine presented its economic transformation strategy and invited UAE funds to participate in the development of its wealth fund

Eid al Fitr

UAE announces Eid Al Adha holidays

Residents can expect either five or six days holiday, depending on the sighting of the Moon

unit-4-of-barakah-nuclear-energy-plant Image ENEC

Unit 4 of UAE’s Barakah nuclear plant begins ops readiness prep

Barakah’s three commercially operating units are already generating more than 30TWh of zero-emission electricity all year round

UAE bank investments

UAE bank investments hit a record $149.3bn in March

Month over month, bank investments jumped 1.3 per cent from Dhs541.4bn in February

Cost of living drives up expenses for expats

Has cost of living gone up for expats in Dubai, Abu Dhabi?

A recent report on world’s most expensive cities for international employees shows the emirate go up the ranks as the cost of living has gone up

KEZAD, Tubacex production facility

KEZAD, Tubacex to build OCTG-CRA production facility in Abu Dhabi

The facility will enable Tubacex to establish a strong presence in the UAE while reaching out to its global network of clients