Saudi Arabia’s Ministry of Investment says licenses are evidence of the kingdom’s burgeoning start-up and venture capital ecosystem
Author Archives: Andrew Sambidge
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air travel
How Saudi Arabia is now rivalling Dubai for international air travel
Riyadh and Jeddah feature in four of the world’s busiest international routes in March, says OAG
digital payments
Mashreq repositions NEOPAY as UAE digital payments continue to soar
Dubai banking major completes transition of its existing payments business into wholly owned subsidiary
Dubai Health Authority
Why the UAE’s stem cell ambitions could lead to medical tourism boost
Region’s first nationwide Stem Cells Bank is part of the UAE’s plan to become a global medical tourism hub
Abu Dhabi construction
First phase sells out at $2.5bn Bloom Living project in Abu Dhabi
Bloom Holding says it will be releasing the second phase of the gated community before the end of the year
Jayne Mcgivern
Jayne McGivern, in charge of London’s O2 and Wembley, hired to drive huge Riyadh wellbeing project
Jayne McGivern is appointed CEO to lead the construction of Sports Boulevard mega project
Aviation
How Saudi Arabia aims to drive the future of aviation
Future Aviation Forum to take place in Riyadh as kingdom aims to attract $100bn in investments by 2030
foreign investment
Retail sector continues to dominate foreign investment licences issued in Saudi Arabia
Saudi Arabia’s Ministry of Investment reveals 347.9% annual increase in licences in H2 2021
Austrian Star Energy
$1.8bn JV deal signed to boost advanced cancer treatment in the UAE
Joint venture established to build neutron therapy hospital, medical university and convention centre
Akbar Al Baker
Qatar announces deal to establish new Auto Museum in Doha
Qatar Tourism enters into agreement to hand over Doha Exhibition Centre for 10 years to Qatar Museums
Ahmedabad
Emirates set to return to pre-pandemic levels of operations to India
Dubai airline says it will be operating 170 weekly flights to nine cities in the country from Friday
Abu Dhabi Grand Prix
Tickets go on sale for Formula 1 season finale in Abu Dhabi
Abu Dhabi Motorsports Management says buyers in April will be rewarded with an early bird discount of up to 30% off selected tickets
Dubai Industrial City
Plans revealed to build electric vehicle manufacturing hub in Dubai
M Glory Group to invest AED1.5bn in Dubai Industrial City facility to produce 55,000 cars a year
Autonomous vehicles
$1bn sustainable city project to be built in Muscat, set for 2025 completion
Diamond Developers, OMRAN unveil The Sustainable City – Yiti with clean energy production, vertical farming and autonomous transportation
Damac Lagoons
Damac awards $136m construction contract for luxury Dubai project
Developer says construction of the Santorini cluster in Damac Lagoons is expected to begin in April
Arabian Travel Market
Saudi Arabia embarks on hotel construction drive as holy cities rebound from Covid shock
New research shows a total of 32,621 hotel rooms are currently under construction in Saudi Arabia
air travel
Saudi’s Flynas plans big plane order to become MENA’s biggest low-cost carrier
Airline board of directors ratifies plan to increase aircraft order numbers to 250
Abu Dhabi economy
Abu Dhabi wealth fund ADQ plans to take over global fresh produce giant
ADQ signs agreement to acquire a majority equity stake in Unifrutti Group
Dubai Industrial City
Etihad Rail inks deal for giant freight terminal in Dubai to boost trade ambitions
Rail network developer signs agreement to build terminal in Dubai Industrial City
3D printing
First Saudi bus manufacturing hub planned as Dussur inks JV deals
Saudi Arabian Industrial Investments Company announces four new joint ventures and a global acquisition
bukhatir group
UAE firm Bukhatir relaunches Tunis Sport City mega project
Huge project will offer a ‘new modern face’ to the Tunisian capital, says Bukhatir chairman
Emirates National Oil Company
Pizza giant Papa John’s set to expand across the UAE in ENOC deal
Master franchisee for Papa John’s signs agreement for seven new restaurants within ENOC service stations
Bahrain Investcorp
Bahrain’s Investcorp seals first Italian real estate deals as European focus intensifies
Investment firm announces Milan and Rome acquisitions as European real estate business tops €1.1bn
digital economy
First live African mobile wallet transaction executed in the UAE
Network International and TerraPay hail milestone deal as they seek to boost mobile wallet penetration in the UAE
Dr Essam Mohamed
UAE pharma major Julphar plans new product launches after return to profitability
Revenue, profit boost in 2021 due to increase in market share in the UAE and Saudi Arabia
Haitham Mattar
Hotel major IHG eyes Saudi talent to fuel expansion plan in the kingdom
IHG Hotels & Resorts plans to add over 10,000 rooms to the kingdom’s supply in the next 2-3 years
clean energy
Abu Dhabi’s Masdar says clean energy capacity rose by 40% in 2021
The renewable energy giant says that its clean energy portfolio displaced almost 7.5 million tonnes of CO2 last year
Dar Al Arkan
Saudi developer, Elie Saab unveil luxury Qatar project after Saudi tie-up
Dar Al Arkan unveils Les Vagues residences by Elie Saab in Qetaifan Island North
abu dhabi property market
Bloom unveils flagship Abu Dhabi real estate project with over 4,000 homes
Centrepiece of Bloom Living will be a large lake, with pathways linking all amenities and neighbourhoods
Azizi Developments
Azizi Developments says making ‘fast progress’ on $3.2bn flagship Dubai project
Phase one of Riviera is now 95% complete while phases 2, 3 and 4 are 80, 50 and 20% finished, says developer
ceos in middle east
Why sustainability is a top priority for most CEOs in the Middle East
EY CEO Survey 2022 reveals that 97% of top execs believe ESG principles will be a key driver of value
ben fairbank
CEO of metaverse firm RFOX praises Dubai’s vision after setting up regional HQ
Ben Fairbank says Dubai is making ‘great progress’ in giving users confidence in virtual assets
blockchain technology
New $100m UAE fund to focus on blockchain, crypto investments
Venture capital firm Cypher Capital announces the launch of one of the region’s biggest seed funds
bahrain investors
Why Gulf investors are seeking out bargains in London’s ‘Cinderella’ areas
New research reveals how Kuwait and Bahrain investors make up the majority of interest in the lower-price-point areas
Abu Dhabi Securities Exchange
How Abu Dhabi’s bourse aims to attract more international investors
Abu Dhabi Securities Exchange adopts FTSE Russell’s Industry Classification Benchmark for all its listed equities
Argentina
Revealed: The importance of the UAE to Latin America economies
New report shows the UAE accounted for 77% of GCC investments in Latin American markets between 2016 and 2021
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Abdulla Alshehhi
UAE company behind ambitious icebergs project wins patent from the UK
National Advisor Bureau Limited seeks to tow icebergs from Antarctica to the Fujairah coast as new sources of fresh water in the region
AIDA
Saudi’s Dar Al Arkan set to make Oman debut with $1.6bn AIDA project
Developer signs deal with Oman Tourism Development Company to build one of the largest mixed use project in the sultanate
Aris Gold Corporation
Abu Dhabi’s Mubadala inks deal to operate Colombian gold mine
Mubadala Investment Company enters into agreement with Aris Gold Corporation for the operation of the Soto Norte Gold Project
movie-making
First filming starts in Neom to support Saudi movie sector ambitions
Within Sand, which is scheduled for release in November, will be submitted to prestigious film festivals worldwide
DEWA
Mashreq launches digital initiative to support Dubai’s IPO push
Dubai banking major says retail customers can now subscribe to upcoming IPOs through online banking platform and app
air cargo
Emirates SkyCargo to reactivate Dubai South hub after Covid consolidation
Emirates SkyCentral DWC move will mark a return to dual hub cargo operations in Dubai for the first time in nearly two years
Abu Dhabi Global Market
Scandal-hit NMC exits administration in the UAE, eyes new growth plan
The CEO of the NMC Healthcare Group says that the new company is more resolute and resilient than ever before and is ready to chart out its new path
Jadwa Investment
Jadwa launches new $800m real estate fund as Saudi property market booms
Jadwa Investment announces partnership with Tatweer Group, NUMU Holding Company and Riyad Bank to launch fund
AG Café
Franchisee plans major Tim Hortons expansion across Saudi Arabia, GCC
AG Café says Saudi outlets will increase to over 200 by 2024, more than double the current number
Dubai Sigorta
Oman Insurance Co signs deal to sell its operations in Turkey
Oman Insurance Company has announced that it has entered into an agreement with Istanbul-based VHV Reasurans
Amin Nasser
Saudi Aramco announces new growth strategy after making $110bn profit in 2021
CEO Amin Nasser says although economic conditions have improved considerably, the outlook remains uncertain
digital transformation
How Qatar aims to accelerate the country’s digital transformation
Ministry of Communications and Information Technology, in collaboration with Microsoft, launches the National Skilling Program
Al-Ahly Sabbour
Developer Reportage starts construction of first project outside the UAE
Montenapoleone project in New Cairo will include 5,500 homes, handover expected by Q4 2025
Bloom Education
Bloom unveils first own brand Dubai school that ‘dares to be different’
Bloom World Academy will offer a flexible school day to better fit family life
Invest Saudi
Saudi Arabia looks overseas as it chases more real estate investors
Major delegation attends showcase real estate event in Cannes to connect international investors with opportunities in the kingdom
DFM
How Dubai’s largest bank plans to add momentum to emirate’s IPO push
Emirates NBD announces the launch of a new IPO platform to support investors
Emirates Mars Mission
Innovation is at the heart of the UAE’s growing global influence, says minister
Sarah bint Yousef Al Amiri, also chair of the UAE Space Agency, says future-focus will continue to be core goals over next 50 years
animal welfare
UAE retail giant commits to animal welfare in region’s first cage-free eggs deal
Majid Al Futtaim says working towards a 100% cage-free shell egg private label assortment across all markets by 2030