The new scheme is applicable to all federal government employees and the private sector
Author Archives: Abdul Rawuf
Abdul Rawuf
FIFA
Major Lazer, Armin van Buuren, to headline EDM festival during FIFA World Cup 2022 Qatar
The Daydream Festival will take place on November 22 until December 18
artist
Snow in UAE? Dubai NFT artist reimagines country, bases artwork on national flag
The digital artist will release a new set of NFTs (non-fungible tokens) after the UAE flag day this year, as part of his “tribute” to the nation
Employee pension plans
UAE National Bonds launches Golden Pension Plan for expats, nationals
The National Bonds initiative allows companies to provide financial care for employees
Abu Dhabi
Siemens Energy to establish its fourth global innovation centre in Abu Dhabi
Abu Dhabi Investment Office’s Innovation Programme will provide financial and non-financial incentives to the company as the UAE takes a major step towards net-zero
acquisitions
Bahrain’s GFH acquires 1 million square feet clinical space in the US for $400 million
In partnership with Big Sky Medical, GFH has now built a portfolio of downturn-resistant US medical building sector of nearly $1 billion
asteroids
NASA confirms success in mission to alter asteroid’s orbit
The Double Asteroid Redirection Test (DART) was the first mission to attempt to push a dangerous object out of the way by means of a direct experiment
Arabian Drilling Company
Saudi’s Arabian Drilling to raise over $700mn in IPO
The company set a final offer price at 100 riyals ($26.6) per share
CLEAR
UAE to hit another global first with a metaverse eye test project by healthtech ShopDoc
The UAE-based startup is partnering with the US-based CLEAR, a digital eye-care company founded by former NASA optical physicist Brandon Zimmerman, to launch eyeglasses prescription tests in the metaverse
CVC Capital Partners
GEMS Education for sale: Five fast facts about founder Sunny Varkey
Get to know the Founder and Chairman of the GEMS Education Group which operates over 60 schools, serving in excess of 130,000 students
Russia
UAE played ‘key role’ in Ukraine-Russia prisoner exchange
UAE president Sheikh Mohamed bin Zayed Al Nahyan and Russian president Vladimir Putin met one another on Tuesday to discuss the bilateral ties between the two nations
Doha
Attending FIFA World Cup 2022 Qatar? Here is the ultimate UAE guide
From match schedules to buying tickets to travelling to Qatar, here’s all you need to know about the much-awaited football tournament
Apple
iPhone 14 falsely calling emergency services as users ride roller coasters
The newest iPhone safety feature mistakes roller coaster movements for a car crash, falsely dispatching emergency services to theme parks
NEOM
Saudi Arabia paying top NEOM executives million dollar salaries: Report
According to the Wall Street Journal, the high-paying salaries come as part of the country’s push for international talent to “jump-start” the Saudi crown prince’s strategy to diversify the economy away from oil
Al Zorah Beachfront Living
Real Estate: UAE Seaside luxury villas sells out in record time
All units were sold within two months of launch, starting prices for each villa at AED11.5 million
Doha
New hotels open in Doha ahead of FIFA World Cup Qatar 2022 amid sky-high demand for accommodation
The hotels are set to host a significant number of fans and officials during the World Cup season amid accommodation price surge
basic salary
UAE Unemployment Insurance Scheme launches today: AED20k cover
Insured residents and locals will be compensated with a cash amount for a set period until new employment is found
Abu Dhabi
Etihad launches its first-ever scheduled flights linking Abu Dhabi and Guangzhou
The new twice-weekly service will be operated with a two-class Boeing 777
Connectivity
Yahsat eyes a share of $525 billion IOT market with investment in eSAT Global
Thuraya, the company’s mobility business, also signs a complementary commercial agreement to develop a next-generation IoT Platform with eSAT Global
Aviation
Singapore to Dubai in 4 hours: World’s first passenger supersonic jet in over 20 years revealed
Overture is scheduled to go into production in 2024 and will be fully operational by 2029
Airports
Saudi Arabia’s carbon-neutral airport to be operated by daa international
The agreement covers operations and general maintenance services worth close to SAR1 billion to propel the airport on its journey towards environmental sustainability powered by 100 percent renewable energy
banking and finance
UAE Banks Federation discusses strategies, plans for Emiratisation in the banking and finance sector
The meeting also deliberated on various programmes being undertaken by the federation to improve working of the sector
bilateral economic relations
Saudi finance minister heads country’s delegation for this year’s IMF, World Bank meet
The IMF-World Bank meetings are being held from October 10 until 16
Dubai
Dubai’s best pubs, bars and clubs revealed: Time Out Dubai Nightlife Awards 2022
The awards are set to be hosted next month, nominees revealed
Blockchain
UAE NFT marketplace to launch, offer access to experts to solve challenges amid global uncertainty
Della Casa’s NFT (no-n fungible token) venture, slated to be launched later this week, is already making a buzz among investors, with Dubai-based Meta Impact Capital selecting Lovely Humans for its maiden investment deal by its latest Metaverse Fund 1
Dubai
GEMS Education for sale: Who is Sunny Varkey?
An entrepreneur in the education industry, Varkey has been in the UAE for over six decades and owns a network of over 80 schools worldwide
bilateral financial cooperation
China, European central banks renew $49.3 billion currency swap deal
The renewed deal will be valid for three years
5i
Saudi commerce minister holds meeting with top executives of London-based 5i
The London-based digital services major has a number of operating companies in various parts of the world, including the UAE and Croatia, besides the UK
BUDX FIFA Fan Festival
Dubai to host FIFA Fan festivals ahead of Qatar World Cup 2022
Other cities include London, Mexico City, Rio de Janeiro, Sao Paulo and Seoul
geopolitics
UAE President to meet Putin for Ukraine peace talks
Sheikh Mohamed’s visit to Russia is aimed “to help reach effective political solutions”
Dubai International Chamber
World’s first two-seater electric flying car takes off from Skydive Dubai
The eVTOL X2 flying car produces zero carbon dioxide emissions during flight, and is designed with low-altitude city capabilities in mind
Asian Winter Games 2029
Inside Saudi Arabia’s TROJENA: The NEOM mountain destination set to host 2029 Asian Winter Games
The snowy destination will be home to the Arabian Gulf’s first outdoor ski slope
Dubai Land Department
Dubai cohabitants registration: Identity of residents no longer required
In a recent announcement, Dubai Land Department informed that only the number of occupants needs to be registered, personal data is not mandatory
CVC Capital Partners
GEMS Education for sale: Could new owners raise school fees?
Fees are capped, but uncertainty over whether new owners can make changes
luxury yacht
Submersible superyacht costs $24.4 million and can stay underwater for four days
Called Nautilus, the yacht submarine with fully customisable interiors has a 30 month wait time
Diversification
Why financial decisions are important at times of uncertainty
While achieving financial security through a fully diversified asset base is most definitely ideal, the truth is, for many, it’s a distant dream that’s riddled with complexity and confusion
DEWA
DEWA to distribute over $843m in dividends
Dividends are intended to be paid to eligible shareholders this month
2022 Lincoln Navigator
Experience luxury, comfort, and sanctuary with the new 2022 Lincoln Navigator luxury SUV
With unparalleled and elegant aesthetics, the new 2022 Lincoln Navigator luxury SUV boasts dynamic signature lighting that flows outward across the front and rear
Abu Dhabi
Burjeel Holdings raises over $299 million on ADX
The proceeds were raised following strong demand from local retail and professional investors
FIFA
UK bans over 1,300 ‘violent’ English, Welsh fans from travelling to FIFA World Cup Qatar 2022
Those failing to comply with these measures could be sentenced to prison for up to six months, and will also face an unlimited fine
Doha
Qatar population surges as overseas employees flock to FIFA World Cup 2022
The country, which is one of the world’s largest reserves of petroleum and natural gas, currently has a population of 2.94 million
cloud computing
Saudi Arabia is first investment option for Oracle in increasing cloud computing capacity, says senior company executive
The US tech major and Governor of Saudi Communication and IT Commission also discussed various aspects of cooperation between the two parties and the latest developments of the company, and its growth in cloud computing locally and regionally
Abu Dhabi
ADNOC awards $1.53 billion contract to ADNOC Drilling for expansion of offshore operations
The two-year contract covers the provision of 12 jack-up rigs and two island rigs and the associated integrated drilling services
Dubai Future Forum
Over 70 global futurists to gather at the Dubai Future Forum
Set to take place from October 11-12 at the Museum of the Future, the largest gathering of futurists from 45 organisations will lead discussions at the forum
currency crisis
Rout in rupee continues, Indian currency plunging to record low of 82.70 against US dollar on Monday
Currency market experts predict further weakening of rupee in near-term basis due to anticipation of aggressive tightening by the US Federal Reserve and predictions of crude prices ending this week with major gains
Dubai
Nakheel, Dubai Police in discussion to develop Smart Police Stations
The meeting tackled topics including joint efforts to develop smart police stations across the city
5G
e& steps into the metaverse in major fashion at this week’s Gitex
At the World Trade Centre, the UAE telecom provider will announce its ‘e& universe’; the company will also showcase the Metaverse Service and Etisalat by e&’s business centre
Dubai
Dubai real estate prices up 90 percent in prime locations over last 12 months: Report
The price surge has been fuelled by UHNWI individuals flocking to the emirate’s property market
Dubai
Kerala to pep up this year’s GITEX with the largest contingent of 50 startups
In another first, the state’s startup mission is planning to set up a ‘Global Launch Pad’ for Indian startups in the Middle East to avail support and benefits of the mission’s activities, after incubating them
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Abu Dhabi
Wizz Air flights to Maldives travel 700km more than Emirates, Etihad, FlyDubai
Reports suggest that this is due to the airline not having an Extended-range Twin-engine Operations Performance Standards (ETOPS) certification
Dubai
Dubai beaches to ‘revamp’ in December
The project is aimed at further developing and beautifying Dubai’s beaches, which are one of the emirate’s most significant tourist attractions
DEWA
DEWA becomes first government entity to launch in the metaverse
Dubai Electricity and Water Authority’s (DEWA) ‘DEWAVerse’ will extend its services to customers, employees and society in the metaverse
ai robot
AI-powered humanoid robot ‘Ameca’ joins Dubai’s Museum of the Future
Ameca, is known to be the “most advanced” humanoid robot in the world
Asian Winter Games 2029
GEMS education for sale, Saudi downtown company, Qatar cuts school, work hours: 10 things you missed this week
A rundown of ten top stories – from GEMS education for sale, Saudi downtown company, Qatar cuts school, work hours – you might have missed this week on Arabian Business