Dubai’s Deputy Ruler and Etihad Rail chairman install the final piece on the railway track linked the two emirates
Author Archives: Andrew Sambidge
Australia
Australia, US keen to copy Sharjah’s Sustainable City model, says senior Shurooq exec
Marwan bin Jassim Al Sarkal says Sharjah Investment and Development Authority is keen to invest across Gulf, Arab countries
Abu Dhabi Securities Exchange
How Abu Dhabi Securities Exchange saw record foreign investment in 2021
Total trading values jump 407% while net foreign investment reached AED15bn on ADX last year
Andrew Liveris
Luxury electric car maker Lucid inks deal for Saudi manufacturing hub
Lucid signs $30m lease agreement with Emaar Economic City for an industrial plot in King Abdullah Economic City
coronavirus UAE
Expo 2020 Dubai confirms rules relaxation as Covid cases continue to fall
Visitors to the mega event will no longer have to wear face masks outdoors, say organisers
Abdulnasser bin Kalban
UAE industrial giant EGA posts record profit growth of 1,140% in 2021
CEO Abdulnasser Bin Kalban says strong demand has continued in the first quarter of 2022
Bait Al Batterjee Group
$106m financing deal agreed for Jeddah hospital project
Gulf International Bank – Saudi Arabia closes project finance facility with Saudi German Health
car rental service
UAE car rental firm Udrive secures extra $5m funding to drive growth
Cultiv8 and Oman Holding International invest in Udrive which has clocked two million trips to date
B2B
Kaso sees rapid growth as it targets $300m business from UAE, Saudi food sector
The B2B platform digitising the ordering process between restaurants and food suppliers reports 10-fold growth in past six months
ADQ
How the UAE can become a regional pharma manufacturing hub
Abu Dhabi investment giant ADQ outlines cornerstones of success to enable the UAE to capture pharma growth opportunities
Abdullah Bin Nasser Aldawood
Riyadh football clubs to get new stadium under $27m Qiddiya deal
Qiddiya Investment Company announces 20-year partnership with Al-Nassr and Al-Hilal
Bahrain economy
Bahrain property deals jump to $2.6bn but prices remain subdued in 2021
Savills research says government initiatives helped drive an increase in property transaction values in 2021
Abu Dhabi
New discovery gives glimpse into life in the UAE 8,500 years ago
Finds on the island of Ghagha indicate local economic and environmental conditions led to the first settled life
female technology
UAE femtech firm Nabta Health raises $1.5m in new funding
Company says seed financing will be used to expand product portfolio and to expand market share in the UAE
banking and finance
Economic reforms driving surge in new liquidity in Gulf, says senior HSBC exec
Richard Godfrey, HSBC’s global co-head of securities services, says new working week in the UAE sets stage for further growth
Brookfield Asset Management
Brookfield JV scores huge Dubai office deal as Talabat picks new regional HQ
Merex Investment Group signs lease deal with food delivery firm for its new regional HQ
CBRE Middle East
Dubai property price growth expected to moderate in 2022 after strong start
CBRE says prices are still 27.1% and 13.5% below the 2014 peak for apartments and villas respectively
Bahrain tourism
Bahrain’s Gulf Air launches standalone holiday booking platform
Gulf Air Holidays aims to support Bahrain’s bid to attract 14.1 million tourists annually by 2026
Aster DM Healthcare
How top business leaders feel about the new UAE-India trade deal
Top execs across the UAE’s defence, technology, healthcare and manufacturing have hailed the bilateral trade agreement
cruise tourism
How MSC Cruises is delivering big boost to the UAE’s tourism sector
World’s third largest cruise brand says the UAE will be the base next winter for MSC World Europa, the biggest passenger ship to sail in the Middle East
ernst young
UAE, Saudi Arabia lead M&A activity surge with energy, tech sectors in demand
New EY research witnesses a major surge in 2021, registering an increase of 66% compared to 2020
Jadwa Investment
Covid-19 risks to Saudi economic growth now ‘limited’ as uncertainty diminishes
Jadwa Investment says Saudi Arabia’s economy will exhibit strong levels of growth nudging 8 percent in 2022
DP World
Dubai’s DP World set to complete takeover of South Africa’s Imperial on March 14
DP World chairman and CEO Sultan Ahmed Bin Sulayem says deal will boost company’s presence in Africa
Dar Al Arkan
Saudi developer unveils luxury W Residences Dubai – Downtown project
Dubai development will mark the first standalone residences in the world under the iconic lifestyle W Hotels brand
emirates scientists council
Revealed: The challenges holding back the UAE’s scientific community
Emirates Scientists Council establishes new committees and advisory boards to address the gap in talent in the region
acquisitions
Saudi Arabia’s largest bank said to chase global acquisitions
Sources say Saudi National Bank, the lender with a market value of $82bn, is studying potential deals in Europe and Asia
ACWA Power
Saudi’s ACWA Power breaks ground on $108m Uzbekistan wind power project
Energy major says Nukus project is expected to reach financial close by the third quarter of 2022
Bahrain economy
Bahrain’s Batelco posts 16% jump in net profit amid growing digital focus
Batelco CEO Mikkel Vinter hails launch of Beyon Money, the first digital financial Super App in Bahrain
Hong Kong
Saudi wealth fund PIF opens US, UK, Hong Kong offices amid global expansion
Public Investment Fund says new offices will assist in its future international growth
Angel Investors
How Dubai’s in5 aims to connect more entrepreneurs with investors
Platform for entrepreneurs in tech, design and media announces new dedicated space for investors
Arena Events Group
Abu Dhabi’s IHC buys majority stake in global event structures major
International Holding Company announces acquisition of 70% stake in Arena Events Group
Amr Diab
Biggest Arab music star Amr Diab signs exclusive deal with Abu Dhabi’s Anghami
Amr Diab is Anghami’s No 1 artist, with close to 1 billion streams so far
Etihad Rail
Etihad Rail, FAB ink $540m loan deal to drive expansion of UAE passenger railway
Launch of railway passenger services will connect 11 UAE cities and locations from Al Sila to Fujairah
Aramco
Saudi wealth fund said to start talks to cash in on $90bn Aramco stake
Sources say the Public Investment Fund is evaluating options for its 4% holding in Saudi Aramco
Avenues-Riyadh mall
Saudi bank signs $690m financing deal for construction of Avenues-Riyadh mall
Saudi British Bank says it has inked financing agreement with Nesma & Partners Contracting Company
Africa
Sharjah ruler inaugurates world’s largest safari project outside Africa
Sharjah Safari will be home to more than 50,000 animals from more than 120 species
Al Rajhi Bank
Saudi Arabian miner Amak hopes to raise up to $332m from IPO
Move comes after Saudi Arabian companies raised almost $9.3bn from share offerings last year
Brookfield Asset Management
Brookfield said to be in talks for payments arm of the UAE’s largest bank
Sources say Canadian investor is the frontrunner to acquire Magnati unit
binance
Binance founder to share crypto vision at Dubai’s Museum of the Future
Crypto pioneer Changpeng Zhao will deliver the first session in a series of talks hosted by the newly-opened museum
Emiratis
Revealed: The salary expectations of Emiratis in 2022
Hays Emiratisation Salary Guide 2022 says 50% of UAE nationals expect a pay rise this year
agritech
Agritech firm Terraplus completes trial to grow rice in the UAE
Move comes as the UAE has imported more than 900,000 tonnes of rice over the past 12 months
Jafza
Plans unveiled for Dubai’s first shrimp farm to boost food security drive
Jafza facility will triple the current production level to over 1,000 metric tons of shrimps per year
Astra UTM
UAE drone traffic platform eyes expansion in Europe, South America
Astra UTM says move follows recent spike in the demand for drones across the world
Airbus
Kuwait Airways adds small, long-range jets in Airbus order swap
Kuwait Airways chairman Ali Al-Dukhan says he had made it his top priority to restructure the deal
Bahrain Investcorp
Bahrain’s Investcorp leads investment in Indian pharma firm V-Ensure
Deal marks Investcorp’s third healthcare investment in India and its first in the pharmaceutical sector
Bahrain
Bahrain starts construction of United States Trade Zone as part of Covid recovery plan
Trade zone will be spread initially over 110,000 sq m, expanding to 1.11 million sq m in the future
Indonesia
UAE eyes new trade deals with Israel, Indonesia after signing India agreements
UAE announced last year plans to lure $150bn in foreign investment from global partners
al hamra group
Al Hamra confirms sale of flagship RAK mall to Aldar Properties for $112m
CEO of Ras Al Khaimah-based developer says deal will further boost the emirate’s retail sector
al bayader international
UAE packaging major unveils new F&B division to serve hospitality sector
Al Bayader International says innovative solutions will be developed through R&D by the new F&B division
DEWA
Key Dubai power plant set to double capacity as energy demand grows
Dubai Electricity and Water Authority says Hassyan Power Complex will double production capacity by end-2023
Education
Leap Scholar to invest $20m in Gulf expansion to meet study abroad demand
San Francisco-headquartered firm says services will be available across the GCC and Israel over the next year
Dubai Creek
Ritz-Carlton Residences to join wellness hub in Dubai Creek
The Ritz-Carlton Residences, Dubai, Creekside will also feature a private members club, Michelin-star chef restaurants and a retail promenade
Artificial intelligence
Dubai robotics firm secures new funding to boost R&D, production
Micropolis announces seed round investment led by San Francisco-based venture capital firm, Mindrock Capital
Diriyah Gate Development Authority
How sport is increasingly proving to be big business in Saudi Arabia
New research says the value of Saudi Arabia’s sports event industry is growing by 8% per year