Dubai

Dubai fines 5 businesses, warns 7 for flouting Covid-19 measures

The violations were spotted in establishments located in Hor Al Anz and Naif areas

ADNOC and Group 42 launch new AI-focused company in Abu Dhabi

AIQ will develop and commercialise AI products and applications for the oil and gas industry

Dubai event

Covid-19 impact: Events companies in Dubai lose up to Dhs5.5bn worth of business

Dubai has gradually resumed live events, but precautionary measures remain in place

UAE top 10 banks see profits drop by 38.9% in H1 2020: KPMG

Non-performing loan ratio increases from 3.8% in December 2019 to 4.1% in June 2020

Philip Morris International unveils new IQOS Boutique at Dubai Mall

The UAE officially legalised the sale and use of electronic cigarettes in April 2019

Oman’s top banks see 34.2% decline in profits: KPMG

Increase in non-performing loans squeezed banks’ profits in the GCC country

Amazon Saudi Arabia

Bahrain, Kuwait and Oman shoppers can now buy on Amazon.ae

Final pricing on Amazon.ae to include shipping fees and customs fees

Saudi’s Amaala awards design and build contract of Construction Village to Tamimi Global

The development of the village will employ off-site fabrication and modular construction techniques, in line with Amaala’s sustainability goals

GCC Covid-19 update: UAE reports 1,046 cases; 817 infections confirmed in Oman

The death toll in the UAE has risen to 436

Sheikh Mishaal Al Ahmad Al Sabah

Kuwait Emir names Sheikh Mishaal Al Ahmad Al Sabah as Crown Prince

Sheikh Mishaal is the deputy chief of the National Guard and brother to Kuwait’s former ruler, Sheikh Sabah Al-Ahmed Al-Jaber Al-Sabah

Covid-19 tests

Free Covid-19 tests for UAE tourists in Ras Al Khaimah

The free testing initiative will be available until December 31, 2020

waitrose

Supermarket chain Waitrose to charge for plastic bags as part of sustainability initiative

All proceeds from the sale of plastic bags will be donated to Emirates Nature-WFF

robot person hand

Most UAE workers believe robots can support their mental health better than humans: study

Oracle study says 84 per cent of employees would pick AI over humans

UAE’s Al Habtoor Group completes preparations for Cairo office

The office will act as a liaison unit, and will be tasked with finding opportunities in the local market

Covid-19 impact: 83% of students have opted for remote learning in UAE

The adoption of latest technologies aided the continuity of the education process

Abu Dhabi

Abu Dhabi Investment Office signs bilateral trade agreement with Israel Export Institute

ADIO will help connect Israeli companies with strategic entities and grant them access to resources in Abu Dhabi

Abu Dhabi’s ADIA to invest $750m in Mukesh Ambani’s retail unit

Reliance Retail runs supermarkets, India’s largest consumer electronics chain, a cash-and-carry wholesaler, fast-fashion outlets and an online grocery store called JioMart

Dubai closes brokerage office; fines 8 businesses and warns 1 for flouting Covid-19 measures

The violations were spotted in businesses located in Al Muraqqabat, Naif, Ayal Nasir, and Al Thanyah First areas

uae currency dirhams

UAE Public Prosecution warns of life imprisonment for counterfeiting currency

Those found guilty will also be liable to pay a fine of not less than Dhs200,000

Dubai Health Authority

DHA opens three new Covid-19 testing facilities in Dubai

There are now five dedicated Covid-19 testing centres in Dubai

UAE first country where Covid-19 tests exceed population

Local health authorities have performed in excess of 10 million tests

GCC’s e-commerce sector set to reach $50bn by 2025

Businesses in the retail sector must make the online transition to firmly position themselves in the post-Covid retail revival

Dubai

Dubai repays 10-year $750m bonds certificates

The 10-year Euro Medium Term Note Programme reached maturity on October 5

Samsung to train UAE students in AI and machine learning

Samsung Future Academy is to launch its AI course in the UAE

Air Arabia announces free global Covid-19 cover for all passengers

The cover includes medical expenses and quarantine costs and is valid for 31 days

GCC Covid-19 update: UAE reports 1,061 cases, total infections cross 100,000 mark

The death toll in the UAE has risen to 435

Arab youth

UAE once again chosen as the ‘top country to live in’ by Arab youth

Nearly half of young Arabs have considered leaving their country, due to lack of opportunities and corrupt governance, finds annual Asda’a BCW survey

Emirates Islamic Nasdaq Dubai Sukuk

Emirates Islamic lists $500m sukuk on Nasdaq Dubai

The latest listing brings the bank’s current sukuk value on the exchange to $1.5bn

Agthia Group

UAE’s Agthia Group receives offer for Al Foah Company

The offer is subject to regulatory and shareholder approvals

Dubai-based fintech Rise eases remittances with new app

Xare allows users share access to their account and credit card with friends and family