ADQ launches Arcera

Abu Dhabi’s ADQ launches Arcera to boost life sciences sector

Arcera plans to double its revenue within five years through strategic acquisitions and partnerships

Egypt raises $800m from hotels in divestment drive

IMF ties Egypt loan disbursements to currency flexibility

The IMF forecasts that Egypt’s inflation will remain high in the near term, with average inflation for the coming fiscal year, expected at 25.5%

Microsoft

Microsoft to separate Teams and Office globally amid antitrust scrutiny

The European Commission has been investigating Microsoft’s tying of Office and Teams since a 2020 complaint by Salesforce-owned competing workspace messaging app Slack

Tax strategies to help expand your business globally GettyImages-918061226

Plan to take your UAE-based business global? These tax strategies will help

When it comes to expanding globally from a UAE base, the complexity of tax regulations across different jurisdictions can pose significant hurdles

Etihad launches flights to boston(web size)

Abu Dhabi’s Etihad Airways debuts flights to Boston

Boston joins Chicago, New York and Washington as Etihad’s fourth destination in the US

DUBAI SCHOOLS EID AL FITR BREAK: Winter break - Image-courtesy-KHDA

Dubai private schools and universities to close for Eid Al Fitr holidays

Regular classes are scheduled to resume from Monday, April 15, marking the end of the Eid Al Fitr holiday period

Truck-WAM

New truck movement timings on Sheikh Mohammed bin Zayed Road: RTA

These measures are aimed at reducing congestion during peak traffic hours, particularly along this critical artery connecting Dubai to Sharjah

Interview with Russell Stokes of GE Aerospace on the GE spinoff and its impact April 2

GE Aerospace’s Russell Stokes on how the spin-off will play out

Operating as a standalone business will give GE Aerospace the flexibility needed to grow the business, says the president and CEO, Commercial Engines & Services. The Middle East is the firm’s largest market globally for widebody aircraft, between engines in service and on order

CBUAE

CBUAE quarterly review: UAE economy to grow by 4.2% this year

The Central Bank’s report underscores the UAE’s resilience and positive economic trajectory, fueled by strong performance across various sectors

Sizewell C nuclear energy plant

UAE signals interest in European nuclear energy investments: Reports

According to reports, ENEC, owned by Abu Dhabi’s ADQ, has been holding talks to invest in the UK

Abu Dhabi

Abu Dhabi’s non-oil GDP expands over 9% in 2023

The emirate’s GDP in 2023, reached Dhs1.14tn, marking its best performance in ten years

Emirates Residences

Emirates’ 2024 April Fool’s: 380-story tower with private airport

The combination of Emirates’ brand and quality to a new development pushes the boundaries of branded real estate in the UAE

UAE free zone corporate tax - OECD

UAE announces new Corporate Tax registration deadlines: What businesses need to know

Failure to comply with the tax deadlines could result in hefty fines

Tourism

Abu Dhabi’s ambitious 2030 tourism strategy: GDP contribution at $90bn, over 178,000 jobs

The Tourism Strategy 2030 reflects Abu Dhabi’s vision to transform its social and economic landscape

Oil hovers near 3-week high on Middle East tensions

Oil rises as investors bet on tighter supply

Europe’s firm demand, softness in US supply growth coupled with a possible extension of OPEC+ cuts through 2024 outweigh downside risk from persistent softness in China’s demand

Dubai: RTA identifies 16 bus stations, depots for upgrades

Dubai: RTA identifies 16 bus stations, depots for upgrades

Six bus depots at Al Khawaneej, Al Qusais, Al Ruwyyah, Al Aweer, Jebel Ali, and Al Quoz will undergo improvements as part of the project

Xiaomi SU7-scaled

Xiaomi’s EV buyers face up to seven-month wait for the SU7

Xiaomi built a Beijing factory capable of producing 200,000 cars annually before it had regulatory approval to start manufacturing in China

Tadawul marks 400th listing across all securities

Saudi’s Tadawul marks 400th listing across all securities

The Saudi Exchange played a pivotal role in facilitating more than SAR11.9bn ($3.2bn) raised through IPOs on the Main Market in 2023

Rotana opens ninth hotel in Saudi, near to this famous causeway

Dar Rayhaan by Rotana in Al Khobar has undergone a “soft launch” as it opens with 133 rooms

Global aviation to recover to pre-Covid levels in 2024, says Kuwaiti-linked Menzies

One of Agility’s subsidiaries is Menzies Aviation, which is the world’s largest aviation services company, reported substantial revenue and EBITDA growth

Sinopec, QatarEnergy sign 27-year LNG supply deal

Amid massive LNG expansion, QatarEnergy bulks up shipping fleet

QatarEnergy has finalised a number of charter contracts with several Asian ship owners to bolster its shipping fleet by 19 LNG vessels

Dubai World Cup

Dubai World Cup 2024: Laurel River takes home $12m prize

Laurel River stormed towards the finish line, eclipsing the previous winning margin record set by Dubai Millennium in 2000

MEYDAN-RACECOURSE-DUBAI WORLD CUP-WAM

Dubai World Cup 2024: Watch live stream from Meydan Racecourse

Elite horses from around the globe vie for victory at the one of the world’s richest horse race

This is how UAE fuel prices have fared in the last 14 months

In the UAE, fuel prices have steadily risen month-on-month for Special 95, Super 98 and EPlus 91 in 2024 thus far

Saudi Arabia - FDI

Saudi FDI inflows rise 16% for Q4 2023

The kingdom hopes to attract $100bn in FDI by 2030 to boost non-oil gross domestic product

Huawei

Huawei continues rebound with strongest earnings growth since 2019

While the company’s core ICT infrastructure business remained stable, its cloud business grew by more than a fifth, generating revenue of CNY55.3bn

online sale

Dubai’s ‘Great Online Sale’: Up to 95% off on major brands

From electronics to fashion, health and beauty to home and toys, discounts are being offered by some of the city’s favourite brands

The Red Sea

Red Sea International Airport to receive its first flight from Dubai

The Red Sea, envisioned to comprise 50 resorts upon full completion in 2030, represents a significant step towards realising Saudi Arabia’s Vision 2030 initiative

Gold

Gold regains its allure with record high prices on safe-haven demand

Gold logged its best month since July 2020, at a 9 per cent increase, and a second straight quarterly rise

FTX founder Sam Bankman-Fried

FTX’s Sam Bankman-Fried sentenced to 25 years for multi-billion dollar fraud

The judge called Bankman-Fried’s efforts to present himself as a “good guy” an act, adding, “The goal was power and influence”