Emirates NBD’s H1 2022 profit rises 11% to AED 5.3 billion

Emirates NBD reports profit of Dhs5.3bn, its highest since 2019

Emirates NBD played a leading role in both the DEWA and TECOM IPOs, delivering customers a fully digital platform

UAE’s ADX records its highest rise in market and trading value in Q2 2022: AMF

The report also pointed out that the market value of the Dubai Financial Market increased by some $24.45bn

Gulf deals

Cash-rich Gulf funds splurge on mega deals as liquidity dries up

The region’s largest sovereign wealth funds have been involved in at least $28.6bn worth of acquisitions outside the Middle East and Africa this year

US Federal Reserve

US Federal Reserve hike leads GCC to follow, but rate paths diverge again

Saudi Arabia, Bahrain and the UAE moved in lockstep with the US central bank, raising their benchmarks by 75 basis points

ADNOC Drilling confirms $2bn in contracts for Hail, Ghasha Gas Development Project

ADNOC Drilling confirms $2bn contract award for Ghasha mega project

The contracts are valued at $1.3bn for Integrated Drilling Services and $700m for the provision of four island drilling units

DEWA to co-organise World Green Economy Summit; aims to fulfill climate change commitment

DEWA to co-organise eighth World Green Economy Summit in September

The summit represents UAE’s efforts to strengthen regional and international cooperation, achieve climate neutrality and accelerate transition to a green economy

Saudi Arabia and Greece sign MoU

Saudi Arabia and Greece sign agreements on energy, security, telecom, digital economy

Saudi Arabia’s Crown Prince Mohammed bin Salman is on a two-day official visit to Greece

Daman insurance to provide healthcare to Ewaa

Daman insurance to provide free healthcare to Ewaa shelter beneficiaries

As per the MoU, Daman will provide free and full healthcare coverage to victims of human trafficking and domestic violence, under the care of Ewaa

Pension of UAE nationals working in Abu Dhabi public schools will increase to 80% of salary

Abu Dhabi: Pension for UAE nationals working in public schools to increase to 80% of salary

The Abu Dhabi Government will spend more than Dhs6.6bn to implement the new pension rate

Gemological Institute of America DMCC

Gemological Institute of America to set up laboratory in Dubai’s DMCC

The new lab, set to open in mid-2023, will be based out of two floors in Uptown Tower as part of a nine-year deal

Deutsche Bank

Abu Dhabi fund hires Deutsche Bank executive for real estate

Drew Goldman’s appointment is effective October 3

Saudi Arabia’s Crown Prince announces design for ‘The Line’ in Neom

Saudi Arabia’s Crown Prince announces design of ‘The Line’ in NEOM

The design showcases how urban communities in the future will run on 100 per cent renewable energy, free from roads, cars and emissions

Gupta brothers UAE

South Africa applies for extradition of Gupta brothers from UAE

Rajesh and Atul Gupta were arrested in the UAE in June

Sultan Al Neyadi is the first Arab astronaut to join the six-month mission to the International Space Station (ISS)/ Pic: MBRSC

UAE’s Sultan Al Neyadi chosen to be first Arab astronaut to join ISS mission

Al Neyadi will conduct many in-depth and advanced scientific experiments during the six-month space mission scheduled to launch in 2023

Bahrain joins Industrial Partnership for Sustainable Economic Development in Cairo

Bahrain joins Industrial Partnership for Sustainable Economic Development

The partnership aims to establish large joint industrial projects, create job opportunities and contribute to increasing economic output between the partner countries

UAE companies Fuel

Fuel reimbursement expenses for UAE companies increase by 38% – report

Travel reimbursements have also seen steady month on month increase with peaks in May and June this year

Covid-19 cases July 25

UAE reports 1,298 new Covid cases, 1,157 recoveries

The Covid-19 nationwide case count has risen to 984,267

Borouge 4 construction to commence in Ruwais

Borouge 4 construction to commence in Ruwais, early phase underway

Upon completion, the new project will add an additional 1.4 million tonnes of polyethylene

Kuwait prime minister

Kuwait names Sheikh Ahmed Nawaf as new prime minister

The prime minister is appointed by the ruling family and governments

BinDawood acquisition

BinDawood Holding to acquire stake in French influencer marketing agency

Ykone is an influencer marketing agency focused on travel, beauty, fashion and luxury brands

RTA and Cruise to operate two Chevrolet Bolt electric vehicles

RTA and Cruise to operate two Chevrolet Bolt electric vehicles

Dubai is set to become the first city outside the US to operate Cruise’s driverless vehicles by 2030

Dubai Higher Committee approves allocation of 2000 residential land plots

Dubai Higher Committee approves allocation of 2,000 residential land plots

The step comes as part of the Housing Programme for Dubai Citizens, to meet the requirements and needs of Emirati families

La Voile Rouge

Restaurant Reviews: French Mediterranean cuisine at La Voile Rouge

La Voile Rouge presents a lavish fine dining experience that transports you to the tropical sceneries and seashore flavours of France

UAE monkeypox

UAE detects three new monkeypox cases

The Ministry of Health and Prevention has urged all community members to follow appropriate safety precautions while travelling and moving in large crowds

Federal Tax Authority

UAE Federal Tax Authority conducts 9,948 inspection visits in H1 2022

Inspections conducted in the first half of 2022 increased by 104 per cent compared to 4,878 conducted in 2021

Dubai Racing Club to launch a one-of-a-kind NFT artwork collection

Dubai Racing Club to launch NFT artwork collection

The NFT digital artwork collection has three categories – Dubai Sprinters, Hall of Fame and DWC Runners

Dubai Health Authority Visa

Dubai Health Authority signs MoU with Visa

Visa will work in cooperation with its bank partners to provide cardholders with a set of exclusive discounts on medical services

UAE participates Arab League’s Economic and Social Council

UAE participates in Arab League’s Economic and Social Council

The UAE highlighted its initiatives to advance the process of joint Arab action in future economic sectors, including the Arab vision of the digital economy

Wizz Air launches two new routes to Maldives and Kuwait

Wizz Air launches two new routes to Maldives and Kuwait

Fares will start from Dhs99 for Kuwait and Dhs319 for Maldives from October

Twitter Saudi Arabia

Twitter unveils key trends shaping the Saudi conversation in 2022

The report highlights emerging opportunities for brands and marketers to connect with audiences