The profits in numbers places the city ‘on track’ to achieve its tourism goals, reinforcing its position as an international hub for global travellers
Author Archives: Sharon Benjamin
Born and raised in the heart of the Middle East, Sharon Benjamin has been making waves as a reporter for Arabian Business since 2022. With a keen eye for detail and an insatiable curiosity for the world of business, she has established herself as a prominent figure in the industry.
Sharon's passion for art and culture shines through in her work, where she seamlessly blends the worlds of commerce and creativity. Her interviews with some of the region's most influential business figures provide an insightful glimpse into their perspectives, strategies, and the unique intersections of culture and entrepreneurship.
When Sharon isn't on the hunt for the next big story or exploring the dynamic business landscape of the Middle East, you'll likely find her at home, surrounded by her beloved feline friend. She often jokes that her cat is her toughest and most adorable critic.
Abu Dhabi
Dubai’s RTA resumes intercity bus routes to Abu Dhabi
The routes were suspended almost two years ago and will be restored on August 9 “to support the return to normalcy” post-pandemic
Aerospace
South Korea’s first lunar mission to explore moon’s coldest, darkest areas
The space mission title ‘Danuri moon mission’, will study the moon’s magnetic field and its darkest craters
Abu Dhabi
How UAE businesses can cope with nation’s digital economy ambition
Most UAE organisations understand that customer and employee experiences are paramount, there is a tendency to confuse user friendliness with user experience
air travel
Dubai’s Dnata extends partnership with Brazilian budget carrier GOL
dnata has extended its long term partnership with Brazil’s low-cost carrier and will cater to over 19 million passengers across 20 airports in the country
Energy
Saudi Arabia’s Aramco, SABIC ‘global leaders’ for blue hydrogen and ammonia production
The two companies received the world’s first TÜV certificate, marking a “major milestone” in the development
Abu Dhabi
ADNOC Drilling wins $3.4 billion worth of contracts to boost crude oil production
The two 15-year contracts, valued at AED5.6 billion and AED7 billion, respectively, will help the increase crude oil production to five million barrels per day by 2030
lead recycling
RAK to get UAE’s first $16 million used battery recycling centre
Around 58 percent of the lead acid battery scrap generated in the UAE will be recycled and exported to India, Japan, Korea, China and Europe for remanufacturing of batteries and cases
Dubai
Emirates ramps up hiring of pilots as air travel demand soars
Selected candidates must undergo specific training and will also be given the chance to pilot future dreamliners and A350-900 aircrafts
Dubai
Dubai’s Global Village to open on October 25 with new attractions
Season 27 of the annual event will see new pavilions and a “road of Asia” segment featuring 43 kiosks
IPO
MENA bucks global IPO slowdown raising over $13 billion in first half of 2022
The biggest IPO was by Dubai Electricity and Water Authority (DEWA) which raised over $6 billion, showing an oversubscription by 37 times
A350F
Global demand for air cargo in June shows ‘healthy’ performance: IATA
Other factors include the aftermath of the Ukraine-Russia conflict and supply chain constricts
cash ban
Israel bans cash use for payments over $1,760
The ban comes as part of the country’s efforts to combat financial crime through digital payment platforms
Al Hamra Real Estate Developer
RAK’s Al Hamra to offer home buyers residence visas and free trade license in new development
The building will comprise studios and, one-, and two-bedroom apartments, and will be sold at a starting price of AED450,000
Abu Dhabi
Abu Dhabi bourse partners with TradingView to attract global investors
The regional stock exchange’s market data can be accessed by local, regional and international investors via the US-based financial information portal
A350F
Etihad ramps up cargo operations with new A350F freighters
The new fleet, featuring seven aircrafts, will be powered by fuel-efficient Rolls-Royce Trent XWB-97 engines
Bulgari
Dubai’s ‘Bulgari mansion’ sold at $14 million as luxury real estate gains traction
The mansion was sold at AED7,775 per square feet, making it the most expensive four-bed mansion on the island
Dubai
TECOM Group’s half-year profit up 43 percent after Dubai IPO
The company, which was recently listed on the Dubai Financial Market (DFM), saw a double-digit growth in revenue
Artificial intelligence
Dubai’s ‘smart police stations’ records over 45,000 transactions in first half of 2022
The smart police stations (SPS) enables officers to communicate with customers in seven languages and is equipped to carry over 25 essential services
UAE
Emirati media exec bags global award for innovative UAE campaigns
The award is bestowed to individuals who create “exemplary content-driven campaigns that reflect brand bravery, creativity, and innovation”
Abu Dhabi
UAE attracts over $2.9 billion in hotel earnings, surpassing pre-pandemic levels
The UAE has established itself as an ideal travel destination and a preferred nation for living and working, despite global pandemic restrictions
Abu Dhabi
Abu Dhabi’s Masdar achieves financial close for Azerbaijan solar plant
The plant is Masdar’s first project in the nation and Azerbaijan’s first foreign investment-based independent solar power project
anti-money laundering
UAE issues anti-money laundering guide for ‘politically exposed persons’
Licensed financial institutions (LFIs) offering services to politically exposed persons (PEPs) have been asked to develop “risk-based policies”
2060 strategy
Dubai outlines new strategy to ‘achieve financial sustainability’
The emirate will use “the best smart and innovative financial systems” to achieve this strategy by 2026
blockchain technology
Dubai’s RTA aims to complete digitisation of vehicle licencing services this year
These initiatives are in line with the emirate’s efforts to become the world’s smartest city
football
Wealthy football fans look to private jets ahead of Qatar World Cup
The airlines will expand its aircraft availability to accommodate rising customer demands
ADNOC
Abu Dhabi’s Fertiglobe hits $750 million in second quarter dividends as revenues rise
The growth in numbers comes after the company was driven by “strong earnings, healthy cash conversion and a robust capital structure”
Auction
UAE receives bids worth $2 billion in third auction of Treasury bonds
The auction, which is part of the country’s T-Bond programme, witnessed Treasury bonds oversubscribed five times
anti-money laundering (AML)
UAE renews anti-money laundering vow amid growing payments sector
Licensed financial institutions (LFIs) must comply with the central bank’s requirements in a month
Dubai
More investors register on DFM amid regional IPO boom
27 brokerage firms in the Dubai Financial Market (DFM) executed deals over AED1.41 million, trading 40 billion shares valued at AED98.25 billion over seven months
acquisition
Saudi Aramco buys US automotive oil manufacturer Valvoline for $2.65 billion
In October last year, Valvoline was in talks of separating its retail and global products businesses as the oil manufacturer aimed to be a pure-play automotive service provider
Abu Dhabi
Abu Dhabi’s Chimera Capital launches S&P Turkey Shariah ETF
The ETF will track the performance of the S&P Turkey Shariah Liquid 35/20 Capped Index
Digital Ecosystem
UAE forms committee to lead digital transformation of government bodies
The committee aims to “supervise and guide the development of the digital ecosystem” for the UAE government
Abu Dhabi
UAE eases loan regulations for beneficiaries of Sheikh Zayed Housing Programme
Banks operating in the UAE must increase the debt burden ratio (DBR) from 50 percent to 60 percent
Dubai
Dubai Municipality restructures, targets $2.7 billion in economic opportunities
The new structure will feature four new agencies as part of the restructuring, which was approved by Dubai crown prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum
Aviation
Dubai International Airport is world’s busiest in July: CAPA
Dubai served over 4 million seats in July 2022 for domestic and international travel, surpassing London’s Heathrow Airport
Instagram
Instagram reverts updates after receiving user backlash
The reversal includes reducing the algorithm that caused users to view videos from accounts they don’t follow
Hospitality
Ras Al Khaimah to welcome over a million visitors in 2022
The emirate saw over 500,000 international and domestic visitors over the first six months, showing an increase of 21 percent compared to the same period last year
Cryptocurrency
‘Standing still’ is the biggest risk to the UAE’s most wealthy: Report
After a decade of fast growth, UAE wealth is anticipated to grow by 6.7 percent, hitting $1 trillion by 2026
Mental health
Abu Dhabi’s SEHA to offer mental health support through Estijaba helpline
The helpline, which was launched in 2021, will offer customers a free-of-cost platform to address their mental health concerns ensuring complete anonymity for the caller
Auction
Dubai’s RTA to auction rare number plates for cars
The number plates of three, four and five digits, can be accessed by private vehicles. Special plates of O 260 and V 1102, will also be available in the auction