Karim Benzema visits Makkah after Saudi transfer

Saudi Pro League stars Karim Benzema, Sadio Mane perform Umrah in Makkah

The Saudi Pro League’s various clubs have gone on an international acquisition spree and signed a string of big names that have brought Europe’s top footballers to the kingdom

Dubai GDP

Dubai’s GDP grows 2.8% in Q1 2023 to reach Dhs111.3bn

The city’s growth in the first quarter of 2023 significantly outpaced the growth rates of some of the most developed nations worldwide

Middle East IPOs raise $1.8bn Q2 2023

MENA stock markets maintain IPO momentum, raises $1.8bn in Q2 2023

Saudi Arabia dominated the region in terms of the number of listings, with four listings on the Tadawul’s main market raising $0.8bn

Dubai Chamber attracts 50 SMEs to Dubai in H1 2023

Dubai Chamber welcomes 50 SMEs to Dubai in H1 2023

The chamber opened six new international representative offices during the first half of the year, bringing the total number to 21

Back to school

UAE school holidays 2023: When does the new academic term start?

The UAE’s Ministry of Education mandates 182 academic days in a year for those schools following the international curriculum

Where to watch the Perseids meteor showerin the UAE Image Getty images

Perseids meteor shower 2023: How to watch it in the UAE

The Dubai Astronomy Group is hosting a viewing event at Al Awir desert on Saturday, August 12, from 10pm to 3am

DFSA FIU sign Mou to fight financial crime

UAE: DFSA, Financial Intelligence Unit join hands against financial crime

The agreement aims to enhance co-operation, co-ordination and information sharing between the DFSA and FIU to fulfill their respective obligations related to AML/CFT compliance

Yahsat’s half-year revenues down 2% to $205m

Abu Dhabi’s Yahsat posts $205m in half-year revenue

The company’s mobility solutions registered strong double-digit growth in the second quarter of the year, up 12 per cent

voco to debut in Sharjah (Image: Supplied by IHG Hotels and Resorts)

IHG to enter Sharjah with voco property

The 191-key hotel is expected to open in 2027

Neweast to set up auto parts hub in Jafza Image Jafza/ DP World

Neweast to establish Dhs500m auto parts distribution hub in Jafza

Neweast’s strategic hub in Jafza will support order fulfillment and delivery in the region for more than 160 premium aftermarket brands

Dubai Chamber of Commerce

Dubai Chamber of Commerce reports 30,000 new joinees in H1 2023

More than 30,000 new companies joined Dubai Chamber of Commerce during H1 2023 as value of members’ exports exceeds Dhs137bn

Dubai Taxi corporation

Dubai Taxi Corporation launches digital transformation strategic plan 2022-2025

The strategy seeks to accomplish a host of strategic goals highlighted by digital mobility, excellent operation, financial sustainability, people’s happiness and shaping the future

UAE CARBON CREDITS SYSTEM

UAE to develop national system for carbon credits using blockchain

The collaboration aims to reduce emissions and enhance sustainable agriculture, environmental health, and biodiversity in the UAE

PIF launches fitness and wellbeing company

Saudi Arabia’s PIF sets up fitness and well-being company

Kayanee will adopt a female-focused approach to all its services, prioritising mental, physical and social health to create a vibrant society

Masdar green bond at London Stock Exchange

Masdar marks $750m green bond debut with market opening at London Stock Exchange: Watch

This bond is the first part of a programme to raise up to $3bn to meet Masdar’s equity funding commitments on new renewable energy projects

Saudi Arabia Type-c Charger

Saudi Arabia to mandate Type-C USB charging ports by 2025

The decision will contribute to reducing the amount of annual domestic consumption of chargers and charging cables by more than 2.2 million units annually

King Abdullah Port

King Abdullah Port announces strategic partnerships boosting maritime offerings

The alliance marks a new chapter in the growth of the port’s maritime services

Yasser Nasr-Aldin, co-founder, chief strategy officer and head of investment at YaSchools Image YaSchools

Saudi edtech YaSchools raises $600,000 in seed round, plans for expansion to Jordan

Since the launch of its microlending services in early 2023, YaSchools has received financing requests worth more than $40m

ADQ to open next gen greehouse in ADQ Image ADQ twitter

Abu Dhabi’s ADQ, Safe Haven Solutions to construct high-tech greenhouse in KEZAD

The new project will use advanced technology to sustainably cultivate tomatoes and cucumbers year-round in the UAE

Ajman Bank Dhs550m right issue oversubsribed Mohamed-Amiri Image courtesy Ajman Bank

Ajman Bank’s Dhs550m rights issue receives strong response

The rights issue was oversubscribed 7.4 times, with a total demand of Dhs4.1bn

Saudia inaugurates flights from Riyadh, Jeddah to Beijing

Saudia launches flights connecting Riyadh, Jeddah with Beijing

The new routes reinforce Saudi Arabia’s commitment to boost the growth of the tourism and aviation sectors

Saudi

Saudi Arabia expands visitor e-visa to eight additional countries

Nationals of these countries can apply for a Saudi visitor visa ahead of their journey via the official e-visa portal

Saudi Aramco reports Q2 2023 earnings

Aramco reports a drop in profits of 38% in Q2 2023

The world’s largest oil company reported that it had paid out a base dividend for Q1 2023 of $19.5bn in the second quarter, which was up 4 per cent year-on-year

Saudi

Saudi city of future enlists Dutch help to grow crops in desert

It is carving out an area the size of some 15 soccer fields to form a horticulture oasis on the outskirts of Neom

Fairmont Ramla Serviced Residences Riyadh (Image: Supplied by Fairmont)

Fairmont opens its first Saudi serviced residences property

The 249 residences range in size from one-bedroom suites to four-bedroom penthouses

Ukraine peace talks in Jeddah, KSA

Ukraine peace plan talks end in Saudi Arabia

A tangible outcome from the Jeddah meet was a plan to form working groups under various points of the Ukraine peace formula

Saudi wealth fund PIF reports $15.6bn loss in 2022

Saudi wealth fund takes $15.6bn hit from SoftBank and tech

The fund’s assets under management grew to $595.5bn from $527.8bn in 2021 despite the $15.6bn loss

Standard Chartered

Standard Chartered, DIFC Innovation Hub partner to empower UAE women entrepreneurs

The Women in Tech accelerator programme offers entrepreneurs a platform to unleash their potential, overcome barriers and accelerate their business ventures

Dubai Police adds Mercedes EV SUV to fleet Image Dubai media Office Dubai Police twitter

Dubai Police has added this new luxury EV to its fleet

The luxury EV features a 516hp dual-engine capable of accelerating from 0-100kmph in just 4.3 seconds

UAE MoF announces strategic plan_Photo-courtesy WAM MoF

UAE: Ministry of Finance announces strategic plan for 2023-2026

The plan will develop financial policies to promote economic growth, create a competitive business environment and strengthen international economic relations