Amazon boxes

Ramadan with Amazon: A behind-the-scenes look

The heightened demand comes alongside expectations of speed, convenience, and reliability

UAE LABOUR MOHRE HEALTH INSURANCE

UAE Cabinet meet: Mandatory health insurance for private employees soon

Sheikh Mohammed chaired the Cabinet meeting which approves key decisions on enhancing the UAE’s labour market competitiveness

Aramco CEO: “We should abandon the fantasy of phasing out oil and gas”

Amin Nasser, CEO of Saudi Aramco, has made the remarks at the 2024 CERAWeek being hosted in Houston, Texas this week

UAE and US non-oil trade hits $31.4bn in 2023 photo courtesy-WAM

UAE-US non-oil trade hits $31.4bn in 2023

The substantial trade volume and ongoing collaboration between the UAE and the US reflect a deep-rooted partnership built on mutual interests and shared objectives

UAE’s du eyes fintech push with new central bank licences

Emirates Integrated Telecommunications Company PJSC (EITC), which operates du, plans to introduce digital financial solutions into the local market

UAE banks set for another year of record growth

UAE banking sector assets hit record Dhs4.1tn in 2023

Total deposits of resident and non-resident customers with UAE banks rose by 13.5 per cent YoY to reach Dhs2.5tn

Nobu Residences Abu Dhabi_Penthouse Villa Terrace

Abu Dhabi’s most expensive penthouse is sold, here’s what it cost

The unit sets a new benchmark for price per square metre at more than Dhs96,000 per square metre and is the most expensive apartment ever sold in Abu Dhabi

Egypt gets EUR7.4bn aid package from the EU

Egypt secures EUR7.4bn aid package from the EU

The funding program will prioritise economic stability, investments and trade as well as migration and security

Israel’s NewMed says BP, ADNOC offer on hold

BP and ADNOC made their offer a year ago, with an aim to access the gas-rich areas in the Eastern Mediterranean

Qatar Airways GCEO unveils vision for future

Qatar Airways GCEO unveils vision for airline’s future, marks it as a ‘new era’

The cornerstone of Qatar Airways’ strategic roadmap is the introduction of new first-class cabins, a move aimed at meeting the high demand for premium travel experiences

Red Sea

Hapag-Lloyd to seek cost cuts in 2024 as Red Sea crisis hits profit margins

Habben Jansen said the Red Sea crisis had rather enforced route changes

Red Sea International

Saudi Arabia’s PIF may take full ownership of Saudia

Saudia is set to mostly focus on Muslim pilgrims making the journey to Saudi Arabia’s holy sites while Riyadh Air will target non-religious traffic, including international transit passengers

eVTOL firm FlyNow targets 2025 e-copter test flights in Saudi, UAE

Small e-copters carrying up to two passengers could be ferrying passengers in the UAE and Saudi Arabia in just a few years, says the CEO of FlyNow

Kuwait’s Q8 to buy 50% of Italian biodiesel producer EcoFox

Kuwait oil company Q8 to buy 50% of Italian biodiesel producer EcoFox

Q8 supplies aviation fuel to more than 70 international airports and holds stakes in three refineries in Italy, Vietnam and Oman

UN-backed NZBA to report capital markets-related emissions

UN-backed NZBA to report capital markets-related emissions

The guidelines require banks to report capital markets emissions, such as those tied to money raised for companies via bond or share issues

G42, EcoCloud partner to build green data centre in Kenya

Abu Dhabi’s G42, EcoCloud partner to build green data centre in Kenya

The new facility will enhance cloud computing and artificial intelligence services to advance digital transformation in Kenya

Dubai consolidates real estate assets under Dubai Holding

Dubai consolidates Nakheel and Meydan under Dubai Holding

The deal is set to combine a complementary suite of services and expertise to diversify Dubai’s economy and maximise its competitiveness

Qatar Airways courts Airbus and Boeing for 150 new planes

Qatar Airways mulls up to 150 widebody orders from Boeing, Airbus

Earlier this month, Qatar’s national carrier said its entire fleet of A350 jets was back into service after settling a legal dispute with Airbus

GCC IPO momentum to remain robust in 2024

Here’s why the GCC IPO bonanza is here to stay

The GCC region is set to see more equity capital markets activity in 2024 as more companies are considering public listings amid a global slowdown

IEA raises oil demand outlook again but still lags OPEC

IEA raises oil demand outlook again but still lags OPEC

Brent crude oil rose as much as 80 cents a barrel towards $85 after the IEA report was released, touching its highest since November

Saudi Manpower Solutions Company gets CMA nod to list IPO on Tadawul

Saudi Manpower Solutions Company gets CMA nod to list IPO on Tadawul

The IPO will offer 120,000,000 shares, representing 30 per cent of SMASCO’s total issued share capital

mohamed alabbar-eagle hills group

Mohamed Alabbar confirms participation in Budapest project

The Budapest project, expected to span one million square metres, will feature residential and commercial towers

Alpha Dhabi completes sale of 3 hotels to NCTH

IHC’s Alpha Dhabi consolidates hotel business with NCTH deal

The transaction adds St Regis Saadiyat, Al Wathba Luxury Collection and ultra-luxury Cheval Blanc in the Maldives to NCTH’s portfolio of hotel assets

saudi arabia non-oil activity

Saudi Arabia hits important economic milestone: Non-oil activities at 50% of GDP

The data points to a positive trajectory for the kingdom’s economy, driven by diversification, and growth across multiple sectors

Travel to MALDIVES - Tropical sunset beach background as summer landscape panorama with beach swing or hammock and white sand and calm sea beach banner. Tranquil beach scene vacation or summer holiday concept. Relaxing spa wellbeing wallpaper

Eid al Fitr holiday: International travel destinations grow in popularity

Outbound travel numbers had gone up substantially this year with international travel packages making up 60 per cent of all bookings

oil

Oil prices at four-month high as revised IEA outlook signals tighter market

Near-term growth in global oil and liquids production will be driven primarily by the US, Guyana, Canada and Brazil, offsetting voluntary production cuts by OPEC+

BUDAPEST - DUBAI

‘Mini-Dubai’ being built in Budapest amid EUR5bn UAE-Hungary deal

First revealed in 2023 by Hungarian Minister Janos Lazar, the project was said to cost approximately EUR1bn, to enhance and upscale an abandoned neighbourhood in the capital

These 5 sectors dominated Dubai trade events in 2023

The Dubai World Trade Centre (DWTC) has revealed its latest facts and figures regarding how its events in 2023 performed

Dubai ALEC IPO on the cards

Parkin’s $429m IPO oversubscribed 165 times

Dubai Investment Fund sold 749,700,000 shares, equivalent to 24.99 per cent of Parkin’s paid-up capital

Almas Tower in DMCC. DMCC is home to over 24,000 companies

Dubai’s DMCC now home to over 24,000 companies, reveals report

The free zone authority shared that a total of 2,692 new companies joined DMCC last year