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Alcazar Energy secures $490m for second fund

Dubai-based Alcazar Energy secures $490m for second fund

The fund has already begun building a portfolio of assets in the western Balkans region, with two wind farms totalling 456 MW

Emaar unveils The Heights Country Club and Wellness

Emaar unveils The Heights Country Club & Wellness

The residential offerings within the luxury development include townhouses and semi-attached villas

Emiratisation

Emiratisation: MoHRE reminds private firms to comply with June 30 deadline

MoHRE’s digital and field supervision system identified 1,379 companies attempting to circumvent Emiratisation goals

Dubai to build 13.5km multi-use track Image Dubai Media office

Dubai to build 13.5km track for cycles, scooters, pedestrians

Stretching from Al Sufouh to Dubai Hills via Hessa Street, the multi-use track will serve as a link between residential, commercial, and educational hubs

UAE’s FAB reportedly in advanced talks to acquire Yapi Kredi

The final details of the potential deal for Turkey’s fourth-biggest private bank are being hammered out after months of negotiations

UAE's AI PUSH

UAE, US to seal more AI deals through strategic partnership: UAE AI minister Al Olama

The UAE, led by government-backed firm G42, is pushing to burnish its AI framework as it diversifies away from oil

Air India-A350-VT-JRI

Air India launches A350 on Mumbai-Dubai route: Full details

The route will offer fliers the option to choose from three class cabins and will fly on 1 of 3 daily services

IMF sees UAE’s GDP expanding by 4% in 2024

UAE economy to grow by 4% in 2024, says IMF

The fund had projected in April that the country’s economy would grow by 3.5 per cent this year

Amount of styrofoam containers

Abu Dhabi bans single-use styrofoam products starting June

The ban targets avoidable, single-use consumer products made of expanded polystyrene

Karim Sabbagh MD designate of Space 42

Space42’s Karim Sabbagh on the Bayanat-Yahsat merger, spacetech and future plans

The managing director designate of Space42 shares how the company will combine geo analytics and satcom capabilities with AI to offer new solutions and services to clients across the region

ITALY-UAE JV EDGE GROUP

Italy’s Fincantieri, Abu Dhabi’s EDGE sign EUR400m deal with UAE Coast Guard

The order comes just three months after EDGE and Fincantieri launched their partnership

Dubai Airports 2024

Dubai Airports revises 2024 projections on the back of record Q1 passenger traffic

Dubai International Airport is connected to 256 destinations across 102 countries

Dubai mall unveils elite personal shopping suite

Dubai Mall unveils Elite Personal Shopping Suite for customers

Located on the second floor of Dubai Mall’s Fashion Avenue, this addition aims to set a new benchmark for personalised shopping experiences

ADGM’s AUM surges by a record 211% in Q1 2023

ADGM says assets under management soar by 211% in Q1 2024

The financial hub said the total number of operational entities jumped by 30 per cent to reach 1,950

UAE energy ministry, Etihad WE set up EV infrastructure company

UAE energy ministry, Etihad WE set up EV charging infrastructure firm

The venture, known as UAEV, is the first EV charging network fully owned by the government

ANAX Developments hosted a prestigious launch gala dinner in Dubai on May 17. (Supplied)

ANAX Developments sets new standards in urban living with launch event

The event, attended by a glittering array of prominent figures from across the UAE, included an esteemed array of artists and influencers

cybersecurity company Fortinet

Fortinet innovates in cybersecurity even as earnings miss Wall Street forecast

Fortinet talks SASE, ransomware and subscription-based solutions as the global cybersecurity landscape evolves at a rapid pace

Iran

UAE President Sheikh Mohamed bin Zayed sends condolence on Iran President’s death

The UAE’s leaders have sent their messages of condolence along with other world leaders on the death of Iran’s President Ebrahim Raisi

Mubadala announces first renewable energy investment in Japan

Mubadala announces first renewable energy investment in Japan

This investment will help reduce carbon emissions and reliance on imported fuels, aligning with Japan’s domestic and international emission reduction targets

Noatum launches maritime services in Türkiye

AD Ports Group’s Noatum inaugurates maritime services in Türkiye

The new entity will serve as a port and liner agency, offering a comprehensive suite of maritime services tailored to meet the diverse needs of clients

‘Gastronomy plays a huge role in drawing tourists to Dubai’, says DFRE CEO Ahmed Al Khaja

The CEO of Dubai Festivals and Retail Establishment (DFRE) tells us about the growth and impact of Dubai Food Festival, and how it has positioned the emirate as an international culinary hub

UAE’s ADNOC Drilling awards Dhs6.24bn contract

ADNOC Drilling secures Dhs6.24bn to unlock unconventional energy resources

The drilling firm has incorporated Turnwell Industries to service the contract and explore future opportunities

Gold - Renewed strength in the greenback has now seen bullion tumble more than 20 per cent since a March peak.

Gold hits record peak as investors anticipate US Fed rate cut

Bullion is known as an inflation hedge, but higher rates increase the opportunity cost of holding non-yielding gold

uae weather - school - rain - alef education - IPO

Upcoming IPO: Alef Education to list on Abu Dhabi Securities Exchange

The first tranche subscription period is expected to run from May 28 to June 4, with the second tranche subscription period expected to end on June 5

OPEC projection for 2024 energy demand - oil

Oil prices climb amid uncertainty in the Middle East

Despite the volatility in the region, oil prices moved only slightly

Sheikh Hamdan signs off on MBZ-SAT launch

Dubai: Sheikh Hamdan signs off on MBZ-SAT launch

Set for launch no earlier than October, the launch of the MBZ-SAT marks a significant milestone for UAE’s space sector

Wizz Air-A321-Neo

Wizz Air Abu Dhabi launches region’s first flight subscription service

The Wizz MultiPass offers travellers greater flexibility and access to the airline’s best fares year-round

Dubai Metro

Dubai Metro: Onpassive, Equiti, Mashreq stations to resume services on May 19

The Energy Metro Station is set to return to service next week, the RTA informed

Masdar City Pump track study showed water savings from 40 to 60 percent

Masdar City unveils the region’s largest pump track for cyclists, skateboarders

The pump track is more than 7,500 square metres of shaded hills, banked turns, and rest areas supporting three tracks totaling more than 500 metres

consumer confidence in UAE banking sector rises to 90 per cent image-by-WAM

Consumer confidence in UAE banks climbs to 90%, here’s why

Abdulaziz Al-Ghurair, UBF and Mashreq chairman, said UAE banks are leveraging technologies such as AI, blockchain, and data analytics