Saudi Investment

Saudi wealth fund rakes in $5bn as demand for stocks booms

The Saudi benchmark index has jumped about 9 per cent this year

World’s first hydrogen-powered flying boat to be made in Dubai

The boat will be able to sail without noise, waves, or emissions

Dubai FDI

Dubai reports Dhs15.9bn of FDI in the first nine months of 2021

It ranked third globally in attracting greenfield foreign direct investments

UAe flag

UAE intercepts ballistic missile targeting country; no casualties reported

The UAE’s General Civil Aviation Authority said that there has been no impact on flights or the country’s airports

President of Israel arrives in the UAE

The president was accompanied by first lady Michal Herzog

The importance of retail renaissance as shoppers seek new in-store experiences

Physical stores are making a comeback and will play a significant role in retail in the future

UAE’s Etisalat completes acquisition of elGrocer

The acquisition is expected to complement Etisalat UAE’s existing marketplace services under the Smiles brand

UAE reports 2,545 Covid-19 cases, 1,320 recoveries

The nationwide case count has risen to 838,384

Trips, extra-curricular activities across Dubai’s private schools to resume from Jan 31 – KHDA

The directive also applies to early childhood centres and universities in the emirate

Seha Ettihad Heroes Healthcare Centre in Abu Dhabi

Abu Dhabi opens dedicated children’s Covid-19 vaccination centre

The Ettihad Heroes Healthcare Centre will specialise in providing Covid-19 vaccines to children aged 3 to 16 years

Dubai’s Emirates to restore flights to five African countries

All passengers travelling from the carrier’s African network with Dubai as their final destination require a 48 hour PCR test

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council.

Dubai approves Dhs74.5bn Integrated Waste Management Strategy 2021-2041

The private sector’s direct contribution to the strategy is expected to amount to Dhs70.5bn

First Abu Dhabi Bank reports 19% rise in group net profit for 2021

Its total assets exceeded Dhs 1 trillion, marking a 9 per cent year-on-year increase

UK inflation at new 40-year high worsens living standards crisis

UK, GCC may sign post-Brexit trade deal this year, Bahrain says

Negotiations between the GCC and the UK have begun

Oman vows to extend economic reforms as its finances stabilise

Oman’s cost-cutting steps along with a rally in oil prices helped the sultanate return to global debt markets

Dubai’s Emirates Islamic’s net profit grows to Dhs823m in 2021

The bank’s profits were up 271 per cent over 2020

Covid-19 update: UAE reports 2,638 cases, 1,099 recoveries

The nationwide case count has risen to 835,839

American Medtech company Zimmer Biomet expands operations in Dubai

The Dubai office will be led by Farah Hamdan, general manager – MENAT at Zimmer Biomet

Emirates

Dubai’s Emirates signs new distribution agreement with Amadeus

The agreement offers travel agents on Amadeus access to surcharge-free Emirates content

Arif Naqvi, founder of Abraaj Capital

Dubai regulator issues Dhs497m fine on Abraaj Group founder Arif Naqvi

The DFSA alleged that Naqvi instructed and encouraged other members of Abraaj’s senior management to mislead and deceive investors and stakeholders

Saudi’s PIF launches Savvy Gaming Group to spur gaming, esports sector

The group aims to be the leading national and international gaming and e-sports company

Antonio Gonzalez, CEO, Sunset Hospitality Group.

Dubai’s Sunset Hospitality Group to expand to 14 countries in 2022

It has announced plans to increase its portfolio to 50 operating venues globally by the end of this year

ADNOC

UAE oil producer ADNOC may aim for $5bn of bonds this year

Crude has surged around 14 per cent this year to more than $85 a barrel

UAE flights

UAE lifts restrictions on flights from 12 African countries

It has also updated the entry measures for travellers coming in from three other African countries: Uganda, Ghana and Rwanda

Abu Dhabi’s ADNOC fastest growing oil and gas brand globally

Etisalat was also named the strongest telecom brand globally

UAE reports 2,369 Covid-19 cases, 1,201 recoveries

The nationwide case count has risen to 833,201

Dubai Islamic Bank posts 39% rise in net profit for 2021

The bank’s total assets equalled Dhs279.1bn

Darwinbox accelerates MENA expansion after leaping to unicorn status

With new Series D investment, the company is set to aggressively expand its team in the UAE and open its next GCC office in Saudi Arabia

Saudi Investment

Saudi’s largest-ever tech event, LEAP, to take place in February

The event will be held at the Riyadh Front Expo Centre from February 1-3 and will feature over 400 expert speakers across six conferences

Emirates Airline Festival of Literature 2022 returns to Dubai in February

The year’s festival with the theme ‘Here Comes the Sun’ offers a stellar line-up of literary luminaries and inspiring personalities who will engage the audience