Diriyah Gate Development Authority unveils its vision to bring 450 top retail brands to project on edge of Riyadh
Author Archives: Andrew Sambidge
banking and finance
How Islamic banks are making their mark in the post-pandemic UAE
New research shows the gap between the penetration of conventional and Islamic banking products in the UAE has narrowed to just 1%
Emiratis
UAE opens registration for new Emiratisation push
Emirati Talent Competitiveness Council opens the first phase of the online registration for its NAFIS program
Cricket
Indian giant Reliance to operate franchise team in UAE T20 League
Reliance subsidiary says it sees ‘unique opportunity’ to own and operate franchise cricket team in the UAE
Dubai hotels
Hotel giant Radisson returns to pre-Covid business levels as UAE tourism rebounds
Hospitality major says Q3 concluded with ‘substantial increase in occupancy rates’ related to Expo 2020 Dubai
Aviation
Saudi Arabia to lift travel ban for India, other countries from December 1
New circular allows passengers coming from Indonesia, Pakistan, Brazil, Vietnam, Egypt and India to enter Saudi Arabia
banking and finance
How ESG concerns are being prioritised by Middle East investors
New report says 89% of regional investors expect companies to face increasing levels of litigation as a result of not delivering on ESG promises
5g technology
DIFC, Du ink deal to roll-out ‘supersonic’ tech to support remote working
Partnership will see telecoms giant implement a range of sustainable, innovative technologies within DIFC
Muscat
Oman unveils Yiti project to drive tourism ambitions
OMRAN CEO says 11 million sq m project will set new standards for urban living and leisure
Abu Dhabi
Abu Dhabi’s Yas Bay Waterfront to open on December 1
Yas Bay Waterfront is a key component of Miral’s multi-billion dirham investment in Yas Island
Eric Cantor
Moelis plans Saudi hires as ‘energy supercycle’ stirs Gulf deals
Boutique financial adviser wants to open an office in Riyadh, the Saudi capital
Cinemas
Saudi Arabia to launch film industry strategy amid $64bn entertainment push
Saudi Film Commission will on Sunday unveil details of how it plans to develop movie industry
Airports
How UAE residents are favouring staycations for year-end holidays
More than half surveyed say they prefer to travel domestically rather than abroad following impact of coronavirus pandemic
cruise tourism
Dubai Harbour welcomes first cruise ship as city targets 500,000 passengers
Maiden call of the AIDAbella at the Dubai Harbour Cruise Terminal marks ‘new era for the cruising industry in the UAE’
Abu Dhabi
Abu Dhabi giants sign deals to cement closer ties with Turkey
Conglomerate ADQ, Abu Dhabi Securities Exchange and AD Ports all ink agreements as Crown Prince visits Turkey
air travel
Dubai’s DXB reopens key terminal as capacity nears 100% after Covid shock
Flight EK659 which arrived from Male was Concourse A’s first flight since the facility was closed 20 months ago on March 25, 2020
Abu Dhabi Securities Exchange
UAE, Turkey to sign financial cooperation deals as ties warm
Countries will sign cooperation pacts for their wealth funds and stock exchanges during one of the highest-level visits in years
Beirut
Will $500m fund breathe new life into Lebanon’s private sector?
Lebanon Economic Empowerment Fund will provide debt capital exclusively to qualified privately-owned Lebanese businesses
Dubai
Dubai real estate deals rise to eight-year high in October
Official figures show Dubai saw 5,352 sales transactions worth AED13.12 billion last month
Abu Dhabi
Abu Dhabi launches self-driving taxis pilot project on Yas Island
Five smart vehicles will initially provide transport links between hotels, restaurants, shopping malls, offices and public facilities on Yas Island
air passengers
Dubai’s DXB issues passenger alert ahead of ‘exceptionally busy’ period
Dubai Airports says it expects to see up to 1.8 million passengers over the next 11 days
Abu Dhabi
Silal says to invest $54m to improve production at Abu Dhabi farms
Food and agritech major to upgrade 80 farms in bid to increase production volume and quality
Dubai
WenChao Group to invest $200m in new Dubai food manufacturing hub
Company also aims to venture into vertical farming in 2023 with first farm completed in 2025
Construction
Kuwait seeks foreign investors to create new business, leisure hubs
Part of its Vision 2035, plans are revealed to develop Sheikh Jaber Al-Ahmad Al-Sabah Causeway’s southern and northern banks and two artificial islands
DFM
Dubai’s Shuaa said to mull IPOs for two units as Dubai plays catch-up
Sources say Shuaa Capital has been in talks with the Dubai Financial Market about listing Stanford Marine Group and NCM Investment
Africa
Saudi mining major chases more African exports after Malawi terminal opening
Ma’aden says the new fertiliser terminal in Liwonde will serve over 5m farmers in Malawi and Zambia
drone technology
How Dubai is planning to develop drone transport as part of tech push
Dubai Crown Prince launches new initiative to promote the development and adoption of cutting-edge drone technologies
chemicals
Indian giant scraps plan to sell chemicals unit stake to Saudi Aramco
Announcement by Reliance Industries puts brakes on a deal that was two years in the making
Airbus
Etihad Airways inks partnerships to accelerate green credentials
CEO Tony Douglas says airline needs ‘to be bold in addressing the climate issues facing the planet’
Banking & Finance
Dubai sets up task force to drive green finance ambitions
Dubai Financial Services Authority has launched the Task Force on Sustainable Finance
Formula 1
Saudi Arabia to host first marathon in 2022 amid sporting push
Riyadh Marathon will be held in March with a SR1m prize pot to attract the world’s top runners
Dubai
Average annual Dubai property prices 12.6% higher in October
New research shows that villas continued to lead the recovery in real estate values in Dubai in October
Banking & Finance
Binance chief buys home in ‘pro-crypto’ Dubai
Changpeng ‘CZ’ Zhao, who runs the world’s largest cryptocurrency-exchange, hails Dubai Government as ‘very progressive’
cruise tourism
Saudi Arabia welcomes largest cruise ship amid tourism push
King Abdullah Port says it received the MSC Bellissima, the largest cruise ship ever to visit Saudi Arabia
Abu Dhabi
Abu Dhabi builds global sporting reputation with new NBA deal
UAE capital will host first pre-season US basketball games from October 2022
Aviation
Dubai re-emerges as aviation powerhouse with five of the world’s busiest routes
Connections to Riyadh, London, Jeddah, Bahrain and Cairo all feature in top 10 busiest international air routes in November
alpago group
Top British architects hired for new Dubai ultra luxury property project
Units at Palm Flower on Palm Jumeirah priced between AED60-200m, says developer Alpago
Burj Al Arab
Dubai’s Jumeirah on hiring spree as culinary portfolio ramps up
New chefs join hospitality giant as 13 new and re-imagined concepts are set to open over the next two months
Abu Dhabi
UAE plans new port to serve chemicals production hub
ADNOC Logistics & Services and AD Ports Group announce plans for liquids terminal and logistics facility at Ruwais
air travel
Middle East aviation recovery in late 2022 at earliest, says Airbus
European plane maker says airlines operating in the Middle East will require 3,020 new aircraft deliveries by 2040
Amazon
Amazon to open new Saudi delivery hubs ahead of White Friday
Global e-commerce giant says it will open new delivery stations in Jeddah, Makkah, Madinah, Abha and Dammam
Aviation
Emirates chief sees return to pre-Covid business levels within 12 months
Chairman and CEO Sheikh Ahmed says reopening of DXB’s Concourse A next week will provide ‘positive impetus’
Aviation
Emirates SkyCargo, Emirates Post ink deal to develop e-commerce platform
First of its kind partnership between an airline cargo carrier and a national postal operator unveiled
Foreign investors
Saudi Arabia eases business set up process for international investors, firms
Ministry of Investment launches new online three-step process to attract more investors to the kingdom
DFM
Dubai’s DFM launches new incentives to attract more IPOs
Dubai Financial Market targets firms representing rapidly growing economic sectors that strongly contribute to the GDP