UAE President Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates (L) meets with HE Abdel Fattah El Sisi, President of Egypt

UAE President Sheikh Mohamed meets Egyptian President Abdel Fattah El-Sisi

The UAE President Sheikh Mohamed’s visit to Egypt comes close on the heels of his recent visit to Jordan and Bahrain

Dubai tourism numbers for H1 2023

Dubai surpasses pre-pandemic international tourism levels in H1 2023

The emirate said there were 8.55 million international tourists in the January-to-June period this year, the best first-half performance yet

Saudi Arabia’s PIF sets up company to promote sports sector

Saudi Arabia’s PIF sets up company to promote sports sector

SRJ Sports Investments will invest in businesses specialised in offering unique fan engagement activities and transformative sports technology

Wellington Management opens Dubai Office

Wellington Management set to expand into Middle East with Dubai office

Wellington has been managing assets for clients in the Middle East and North Africa for 29 years and decided to expand into the region to support local needs

ADNOC Gas reports $2.3bn in half-year net income

ADNOC Gas’ H1 2023 net income plunges to $2.3bn

Brent crude oil prices, which are used for gas pricing, decreased by nearly 31 per cent during the period under review

Saudi Fund for Development signs loan agreement for hospital project Image SFD

Saudi Fund for Development signs $75m loan agreement for hospital project in Saint Lucia

This agreement is part of SFD’s efforts to support sustainable development in developing countries and small island developing states

Burjeel Holdings’ half-year profit up 47% to Dhs225m

Burjeel Holdings’ half-year profit up 47% to Dhs225m

The healthcare services provider’s H1 revenues surged by 13.9 per cent year-on-year to Dhs2.2bn, driven by an increase in patient footfall

Hilton to open over 50 properties in Saudi Arabia onrad Riyadh Laysen Valley

Hilton to quadruple its presence in Saudi Arabia, aims to open over 50 new hotels

Hilton currently operates 16 hotels in Saudi Arabia, including Waldorf Astoria Jeddah – Qasr Al Sharq, Conrad Makkah, and Hilton Riyadh Hotel & Residences

UAE Pass

MoIAT adopts UAE Pass across all its digital services

From August 15, customers will need to have registered for UAE Pass to access the ministry’s services including specification, conformity and accreditation services

Ukraine peace blueprint in Saudi Arabia

Saudi Arabia hosts talks on Ukraine peace blueprint

The kingdom is increasingly trying to position itself as a diplomatic powerhouse and has said it wants to mediate between Ukraine and Russia

oil production cuts

Saudi Arabia extends voluntary oil production cuts into September

It’s the second time the kingdom has extended the oil production cut, which was first announced in June after a meeting of the OPEC+ countries

Fitch says sukuk pricing remains similar to bonds in H1 2023

Sukuk pricing remains similar to bonds in H1 2023

Sukuk and bonds had a high pricing correlation of 0.95 (out of 1) on average and low average spreads between 2018 and H1 2023

ADNOC, TABREED advance efforts for geothermal energy

ADNOC L&S reports 327% increase in net profit for H1 2023

ADNOC L&S attributed its strong performance to its expansion of asset and customer base, decarbonisation of operations, and entering new verticals

IHC’s half-year net profit surges to $2.8bn

Abu Dhabi’s IHC posts $2.8bn in half-year profit

The conglomerate said its revenues surged by 30.8 per cent year-on-year to Dhs28.7bn as the company sustains its growth trajectory

Hamad International Airport

Hamad International Airport rolls out digital wayfinding solution

Distributed across the airport, wayfinding and directory devices with QR codes will allow passengers to get from one point to another

Dubai Office Market defies global slump Image courtesy Getty Images

Dubai office market defies global slump with influx of tenants

Average rents for prime commercial real estate in Dubai have risen as much as 17 per cent

Abu Dhabi International Airport - UAE megaprojects

Abu Dhabi International Airport passenger traffic rises 67% in H1 2023

The airport welcomed 10,258,653 passengers during the first half of the year

Suhail star

End of summer 2023: Sighting of the Suhail star indicates cooler days

The rising of the Suhail star is a celestial event tracked by astronomers across the Middle East as it marks the end of the extreme heat and heralds the approach of temperate weather

Oman's OIA

Oman Investment Authority’s assets hit $46.6bn in 2022

The country’s sovereign wealth fund said its return on investment last year touched 8.8 per cent, which allowed it to contribute substantially to support the general budget

RTA picks banks for taxi and parking IPOs-image-RTA-twitter

Dubai’s RTA selects banks for taxi and parking IPOs

The government reportedly plans to sell shares in the taxi business as soon as this year, while the parking unit’s listing is slated to follow next year

e& money

UAE’s e& money launches prepaid card with cash rewards

Customers are instantly issued a 16-digit Mastercard branded e& money card, ready to be used for payments and ATM access

Agthia Group posts 6.6% first-half profit rise to Dhs144m

Agthia Group posts 6.6% increase in first-half profit to Dhs144m

The group’s revenues in the six months to June 30 surged by 10.3 per cent year-on-year to Dhs2.2bn

Arsenal Emirates Jersey-sponsorship-

Arsenal renews front-of-jersey partnership with Emirates

The deal is the longest-running front-of-shirt sponsorship in Premier League history

Americana Restaurants on MSCI UAE Index

Americana Restaurants posts 19.4% net profit for H1 2023

Americana said its year-on-year revenue growth was underpinned by continued expansion of restaurant portfolios across its MENA operations

UAE’s Emirates Steel Arkan posts $76.4m in H1 profit

UAE’s Emirates Steel Arkan posts $76.4m in H1 profit

The robust profitability in the first half of the year was driven by continued high demand for the company’s steel products and stable margins

Etihad Airways adds Boston to its US network

Etihad Airways adds Boston to its US network

The airline will operate flights to Boston four times a week with its Boeing 787-9 Dreamliner aircraft

CBI CEO

CBI net profit increases by 44% in H1 2023

CBI reported a net profit increase from Dhs55m in H1 2022 to Dhs79m in H1 2023

Abu Dhabi's ADQ, IHC look to merge with Q Holding Image GettyImages-1366647006

ADQ, IHC Capital propose merger with Q Holding to create $12bn entity

The proposed transaction would create one of the largest real estate, hospitality, events and catering platforms in the region

UAE President Sheikh Mohamed - Jordan visit - 66ca77b8-2d18-48a4-a91b-0df49fcaa945

UAE President Sheikh Mohamed in Jordan following Bahrain visit

Sheikh Mohamed’s trip is intended to bolster long-standing ties between the UAE and Jordan

pedestrian crossing

Find the latest AI-powered smart pedestrian crossing in this Dubai community

The system’s AI algorithms are designed to detect and track vehicles and other road users approaching the pedestrian crosswalk