logistics park

Dubai’s DP World, Saudi Ports Authority sign agreement to build logistics park at Jeddah Islamic Port

The new facility will offer warehouse space of 100,000 square metres

science

Revealed: 91% of UAE residents trust science and technology

This was revealed in the fifth edition of 3M’s 2022 State of Science Index (SOSI)

internal controls

Why internal controls are so critical for organisations

Companies should not wait for regulators to fix gaps, they would do well to proactively establish a strict internal control framework

Israel

Calev’s newsroom: Building bridges between UAE and Israel

The highlight of the relationship between Israel and the UAE is not its economic or political aspects, but rather the human side

Simon Smith, senior vice president of GMG Sports Retail

GMG Sports Retail’s Simon Smith on the company’s expansion and new in-store offerings

GMG Sports’ senior vice president – Retail, tells Gulf Business about the brand’s entry into Southeast Asia and Egypt

#DubaiDestinations

#DubaiDestinations campaign: What makes Dubai an ideal summer spot?

The campaign encourages Dubai’s diverse community to discover the city’s top activities, experiences and events during summer

UAE: Keeping the real estate momentum going

Recent policy initiatives that make it easier for foreigners to live and work in the UAE have also bolstered the demand for real estate properties

Abu dhabi fire Image courtesy: Abu Dhabi Police, Twitter

19 injured after fire breaks out in a building in Abu Dhabi

The fire broke out in a 30-storey building at the Al Zahia area in Abu Dhabi on Friday afternoon

Unit 3 of UAE’s Barakah nuclear power plant receives operating licence

The UAE is the first country in the Arab region to operate a nuclear power plant

UAE

UAE weather update: Temperatures to hit 49°C over the weekend

The UAE recorded its lowest temperature of 24.1°C in Raknah (Al Ain) at 6am local time today

Sohar International eyes merger with HSBC Bank Oman

Sohar International recorded a 41.6 per cent increase in net profit to OMR28.3m for the year ended December 31, 2021

Qatar Airways

Qatar Airways Group reports highest net profit in 25-year history

The group recorded a net profit of $1.54bn during the fiscal year 2021/22

Amazon startups

Amazon backs Saudi entrepreneurs to establish logistics startups

The programme aims to establish more than 30 new startups and create hundreds of job opportunities during the first three years

Gulf Air to start direct flights to Ras Al Khaimah airport

Bahrain’s Gulf Air begins services to Milan

The inaugural flight left Bahrain International Airport on June 1

Dubai sales transactions

Dubai records decade-high real estate sales transactions in May 2022

The emirate’s real estate market recorded a total of 6,652 sales transactions in May

UAE reports 1,435 Covid-19 cases, 1,243 recoveries

The nationwide case count has risen to 923,001

home check-in service

Emirates’ first class customers to receive complimentary home check-in service

The service must be booked at least 24 hours prior to the flight’s departure time

investment trends

Eye for detail: What do key investment trends look like?

Speaking to Gulf Business, Rob Ansari, head of investments and retirement – India, Middle East, Turkey and Africa at Mercer, shares insights on evolving market trends and the way forward

Salik

Sheikh Mohammed issues law establishing Salik as public joint stock company

The Executive Council of Dubai is authorised to determine the percentage of shares that can be offered for subscription either through an IPO or private placement

Dubai-Internet-City Tecom Group

Dubai’s Tecom Group sets IPO price range at Dhs2.46-2.67

The final offer price is expected to be announced on June 27, 2022

Department of Health - Abu Dhabi

Department of Health – Abu Dhabi and biopharma firm MSD GCC announce collaboration

Both the DoH and MSD share a vision of improving the health and wellness of UAE, through innovative medicines and vaccines and other healthcare services

Cartlow

UAE’s reverse logistics platform Cartlow secures $18m funding

The investment will provide the company with the ability to further expand its operations and services in Saudi Arabia and the UAE

Oil extends losses as traders weigh Iran supply, demand outlook

Oman wealth fund considers IPOs of state energy firm OQ’s units

The share sales are part of Oman Investment Authority’s plan to exit state assets in a bid to bolster the country’s coffers and expand its stock exchange

Etihad seasonal routes

Abu Dhabi’s Etihad launches five seasonal routes for summer

Three seasonal services took off on the morning of June 15

central bank

UAE Central Bank raises base rate by 75 basis points

Central banks across the GCC have also raised their interest rates

Egypt

UAE suspends re-export of Indian wheat for four months

The Ministry of Economy said that the decision comes in view of the international developments that have affected trade flows

Mohammed bin Rashid Library

Mohammed bin Rashid Library deploys AI and robots

The automated storage and electronic book retrieval system on the library’s first floor is one of its largest sections

Bahrain’s BBK appoints seven women to boards of group firms

The Bahraini women are among a growing number of females taking on leadership roles across the Gulf region

Germany

UAE, Germany non-oil trade totals Dhs478bn in 10 years

Imports accounted for 89.5 per cent of the total trade exchange

US President

US President to visit Saudi Arabia in July

Joe Biden will visit the country on July 15-16