Etihad Airways to fly to Al Qassim from June Image Etihad Airways

Etihad to debut flights to this new Saudi destination

In addition to the Al Qassim route, Etihad Airways will increase frequencies to various destinations, including Antalya and Jaipur, starting June 15

ADX, DFM log direct deals worth Dhs1.6bn during Ramadan

ADX, DFM log direct deals worth Dhs1.6bn during Ramadan

In ADX, five large direct deals were executed on 243.4 million shares, amounting to Dhs683.3m

Emirates Development Bank milestones in numbers GettyImages-124638324

In numbers: Emirates Development Bank’s role in boosting UAE’s economy

The development bank has set an ambitious target of providing Dhs30bn in financing support to 13,500 companies by 2026

Consumer spending rises in 2023 shows Majid al Futtaim State of the UAE retail economy report

UAE consumer spending rises 13% in 2023, reveals retail report

The report showed that e-commerce spending continued growing in 2023, with a 15 per cent growth rate since 2022

solar eclipse

Total solar eclipse on April 8, 2024: Time, path and how to watch

The upcoming total solar eclipse slated for April 8 is set to be one of the most significant astronomical occurrences of the year.

Jared Kushner's Affinity Partners developing Balkan projects

Mohamed Alabbar in talks with Jared Kushner for Serbia project

Kushner told Reuters last month he was in talks over investing in Belgrade, the capital of Serbia, to transform the old army headquarters

Saudi Aramco lines up banks for potential share sale

Shell, Aramco in final stage of Pavilion Energy talks: Reports

Shell has said it believes gas and LNG will play a critical role in the energy transition by replacing more polluting coal in power plants

RED SEA - YEMEN COAST

Red Sea tensions: UK security firm says vessel targeted near Yemen’s Hodeidah

Yemen’s Houthis have staged attacks on shipping in the Red Sea region for months in solidarity with Palestinians in Gaza

Instagram , Facebook - META -AI

Meta to start labelling all AI-generated content on Facebook, Instagram

The new labeling approach would apply to content posted on Meta’s Facebook, Instagram and Threads services

FAB issues $800m sukuk, marks first for the year globally

FAB exploring purchase of Turkey’s Yapi Kredi Bank: Reports

FAB has held early exploratory talks with owners of several Turkish banks

Elon Musk tesla robotaxi

Tesla’s bet on robotaxis is a long way from paying off: Insight

Some Tesla investors and analysts said valuing a robotaxi business for Tesla is much more difficult than a low-cost car

Gold

Gold shatters record highs, heads for third straight weekly gain

US gold futures settled 1.6 per cent higher to $2,345.4

Abu Dhabi

Abu Dhabi private sector sees robust growth, value hits Dhs338.9bn in 2023

The sector’s ongoing contributions to Abu Dhabi’s GDP were shared by ADDED and ADIO at the second edition of their Al Multaqa meeting held recently

UAE

UAE jumps 10 places in global FDI confidence index

Developed markets dominate the top 25, but emerging markets like the UAE and Saudi Arabia witness significant rises

Travel, tourism global contribution to hit record $11.1tn in 2024: WTTC

Travel, tourism global contribution to hit record $11.1tn in 2024: WTTC

In 2023, the travel and tourism sector accounted for 9.1 per cent share of the global GDP with a workforce of nearly 330 million

EGYPT

UAE deal bolsters Egypt’s foreign reserves in March

Egypt received the initial $5bn payment from the UAE in its $24bn deal at Ras El Hekma peninsula west of Alexandria

SCA declares Eid Al Fitr holidays for UAE financial markets Image WAM

Eid Al Fitr 2024: SCA announces holiday dates for UAE financial markets

The Eid Al Fitr holiday will start on Monday, April 8, 2024 (Ramadan 29, 1445 AH)

samsung

Samsung reports 900% rise in Q1 2024 profit as chip prices recover

The better performance came as its chip division, is expected to report its first quarterly profit in five quarters, as memory chip prices bounce back from a deep trough

oil

Brent settles above $90 for first time since October

Investors will look to economic data and monetary policy for potential clues on the outlook for oil demand

Kuwait-Saudi railway link set for completion in 2028

Kuwait-Saudi rail link set for completion in 2028

This development follows the approval from Saudi Arabia’s cabinet last year on the agreement with Kuwait regarding the railroad project

Saudi Arabia: Image: Getty Images - ipo

Riyad Bank considering IPO of investment banking unit

Gulf markets have been riding an IPO boom over the last two years on high oil prices and foreign institutional investor interest

Dubai Metro red line timetable tweaked to ensure seamless travel for commuters RTA Image WAM

Dubai Metro: Timetable upgrade at Red Line Y junction to ensure direct travel

Dubai Metro trains will operate alternately, ensuring journeys from Centrepoint directly to UAE Exchange and Expo 2020 Stations without the need to switch trains at Jabal Ali Station

BlackBerry cyber

BlackBerry reports profit on demand for cybersecurity services

BlackBerry expects first-quarter revenue in the range of $130m to $138m, below analysts’ estimate of $151.12m.

Dubai South Properties awards Dhs1.5bn contract to AL Kharafi to build new phases

Dubai South awards Dhs1.5bn contract to develop new South Bay phases

South Bay is envisioned as a premier residential community located in the heart of the Residential District in Dubai South

Easylease acquires 60 per cent of United trans

IHC’s EasyLease acquires 60% stake in United Trans, expands interest in mobility sector

By combining their expertise, EasyLease and United Trans aim to deliver a wider range of enhanced mobility solutions to customers across the GCC and MENA regions

AD Ports group, Iraq sign deal too develop free zone Pic for illustrative purposes

AD Ports Group, Iraq to develop Al Faw Grand Port and Economic Zone

The agreement aims to stimulate trade connectivity and strengthen economic partnership between the UAE and Iraq

Brent oil price forecast Bloomberg GettyImages-1384536093

OPEC+ gets oil price to its sweet spot, the trick is keeping it there: Insight

While Asia’s crude demand is robust, the same can’t be said for its refinery margins, which have been squeezed by higher oil prices

HUALIEN, TAIWAN - APRIL 04: An area of a damaged building is cordoned off following the earthquake on April 04, 2024 in Hualien, Taiwan. A 7.5 magnitude earthquake hit eastern Taiwan on Wednesday, triggering a tsunami warning for the coastline in Taiwan, the Philippines and Japan. (Photo by Annabelle Chih/Getty Images)

Nvidia says it expects no impact to chip supply from Taiwan earthquake

Taiwan weather officials ranked Wednesday’s quake in Hualien as “Upper 6”, or the second-highest level of intensity on a scale ranging from 1 to 7

Gold bars

Gold continues record rally after US Fed comments

Bullion has hit record highs in each session for over a week over data from the US economy

Aster DM Healthcare

Aster DM Healthcare separates GCC, India business, sells stake to Fajr Capital

It is a major healthcare services provider in the GCC, comprising 15 hospitals, 117 clinics, and 285 pharmacies across the region and three brands