Celonis funding round

Qatar leads investment round in Celonis at $13bn valuation

The latest funding came as an extension of last year’s Series D investment round

QatarEnergy

QatarEnergy awards contract for 875MW solar power plants

These plants are to be built in Mesaieed Industrial City and Ras Laffan Industrial City

single-use plastic

Sharjah to ban single-use plastic bags from January 1, 2024

Sales outlets will be committed to impose a tariff of no less than 25 fils as of October 1, on each single-use plastic bag given to the consumer

Eid Al Fitr holidays for schools

UAE: Students above age 12, staff must provide negative PCR test result for new academic year

Wearing face masks remains mandatory inside closed areas

Emirates Global Aluminium

UAE’s Emirates Global Aluminium reports $1.6bn in net profit for H1 2022

The company’s revenue for the first half of the year stood at $5bn, compared to $2.9bn in H1 2021

Huspy

UAE proptech startup Huspy acquires Just Mortgages, Finance Lab

The founders and employees of both businesses will join Huspy

Tourist project

In pics: UAE President, regional leaders inspect tourism project in Egypt

The leaders were briefed about the five-star hotel which features several tourist facilities

Cover story: Why Kuwaiti entrepreneur Talal Al Ajmi is heavily invested in the future

Founder and CEO of VI Markets, Talal Al Ajmi tells us how investing in technology has been key to his company’s growth

Etihad

UAE’s Etihad Airways to ramp up flights to New York from November

From November 15, a total of 11 weekly services will connect Abu Dhabi to New York

free trade agreement

UK-GCC free trade agreement: What’s on offer?

Increased trade and investment can unlock further growth in the UK and the GCC, and an ambitious free trade agreement is imperative

cartlow

Tomorrow first: Is the future of logistics here?

Experts from across the region’s logistics and freight sector give us the lowdown on advanced technologies, digitisation, e-commerce and other key trends transforming the sector

Explainer: How companies in Middle East approach diversity, equality and inclusion?

Current efforts are not limited to just hiring, but also include investing in developing female talent to build up diverse pipelines, opines Maliha Jilani, member of the global social impact practice and partner at Heidrick & Struggles (Dubai)

Emaar Namshi sale

Dubai’s Emaar to sell online platform Namshi to Noon

Emaar will receive the equity value as the cash consideration

Covid-19 restrictions to be eased in UAE from September 28

UAE reports 693 Covid-19 cases, 659 recoveries

The nationwide case count has risen to 1,008,435

hub

Abu Dhabi to host one of region’s largest food and healthcare storage hubs

The hub will comprise four warehouses with over 80,000m2 of capacity

FIFA World Cup ticket

FIFA World Cup ticket sales hit 2.45 million with three months to go

The event is set to start on November 20, a day earlier than planned

Abu Dhabi launches Land Privileges Programme to support businesses

Abu Dhabi’s ADDED launches Land Incentives Programme

Land incentives will be offered at rates as low as Dhs5 per square metre, with beneficiaries also receiving long-term contracts

Emirates

Dubai’s Emirates to halt Nigeria flights on blocked funds

The Dubai-based airline said it tried every avenue to address the transfer of funds from Nigeria

Covid-19

UAE reports 703 Covid-19 cases, 673 recoveries

The nationwide case count has risen to 1,007,742

policies

UAE-based private sector employees grow 9% in Q2 2022

The construction sector accounted for the largest chunk of new work permits issued during the second quarter of 2022

Dubai Airport

Dubai Airport expects full recovery next year amid travel surge

Dubai attracted 86.4 million travellers in 2019

OPEC

OPEC chief sees high risk of oil squeeze amid bullish demand

The OPEC chief remains confident that world oil demand will increase by almost 3 million barrels a day this year

UAE Covid

UAE reports 721 Covid-19 cases, 631 recoveries

The nationwide Covid-19 case count has risen to 1,007,039

Dubai’s DXB records 27.9 million passengers in first six months of the year

DXB handled a total of 154,993 flight movements in H1 2022, up 55.9 per cent compared to the first half of 2021

Al Othaim family

Saudi wealth fund buys $7bn US stocks amid recession fears

The wealth fund is boosting its investments in equities as Saudi Arabia’s income from oil almost doubled in the second quarter

UAE Covid

UAE reports 775 Covid-19 cases, 656 recoveries

The nationwide Covid-19 case count has risen to 1,006,318

Oman

Oman gets first upgrade from Fitch on oil-led fiscal turnaround

Fitch raised Oman’s long-term foreign-currency rating by one notch to BB

Emirates

Dubai’s Emirates to introduce A380 service to Bengaluru

Bengaluru will be the second city in India to be served by the Emirates A380 aircraft

Dubai Metaverse Assembly: WEF, Meta, Mastercard, Emirates participate as partners

Museum of the Future, Dubai’s DEWA partner to showcase innovative tech

The agreement aims to pave the way for constructive research to help solve current ecological challenges

Saudi permits all types of visa holders to perform Umrah

The decision coincides with the start of the Umrah season for the current year