DEWA joins CharIN to advance green mobility

DEWA bolsters commitment to green mobility by joining CharIN

The membership allows DEWA to actively participate in establishing industry standards for electric vehicle charging systems

El Ettifaq

El Ettifaq lure Liverpool’s Jordan Henderson

Henderson’s signing follows a string of other big names from the English Premier League that have been pulled in by Saudi clubs in recent months

Here's how many transactions Dubai Customs processed in H1 2023

Dubai Customs reports H1 highlights, processes 14 million transactions

Dubai Customs reported a 10 per cent surge from the 12.7 million transactions registered in the same period last year

GMG opens first Monoprix Maison outlet outside France Image GMG

UAE’s GMG opens first Monoprix Maison outlet outside France

The new outlet is located at Springs Souk Mall by EMAAR in Barsha Heights, Dubai

Rawabi Energy concludes one of the Largest Private Sector Syndicated Financing Image Rawabi Energy

Saudi Arabia’s Rawabi Energy concludes SAR7.175bn syndicated financing

The lending group also included First Abu Dhabi Bank acting as lead arranger

UAE to support countries affected by immigration with $100m

UAE allots $100m to support countries affected by ‘irregular migration’

President Sheikh Mohamed bin Zayed said that ‘irregular migration’ stands as one of the most critical challenges facing the world today

Saudi Arabia’s PIF launches firm to promote date industry

Saudi Arabia’s PIF sets up company to promote Ajwa dates

The company will play a key role in improving the quality and​ production capacity of Ajwa dates in the Madinah region

millet

This humble grain is showing up on Michelin-starred menus

Consumer goods companies are betting on increasing demand with innovative, millet-based snacks

UAE chases 7% growth to double economy to over $800bn

UAE chases 7% growth to double economy to over $800bn

The Gulf country is seeking bilateral trade deals and partnerships to ensure its economy is sufficiently diversified away from oil-dependent growth

Saudi Arabia Tunisia loan deal 3-SPA

Tunisia gets surprise $500m from Saudi Arabia amid IMF delay

The money comes at a sensitive time for Tunisia, which risks defaulting on its debt unless it wins a bailout from the IMF

Image: Twitter/ G-20 India

G-20 energy ministers meet as extreme heat puts focus on energy transition

The G-20 energy ministers’ meet in Goa is intended to lay the ground for a leaders’ summit in September and offer an opportunity to reinvigorate sluggish energy diplomacy

Aramco closes 3.4bn deal for 10 stake in Rongsheng

Aramco completes $3.4bn deal for 10% stake in Rongsheng Petrochemical

The deal represents the continued growth of Aramco’s downstream presence in China

Saudi wealth fund sets up Sawani

Saudi wealth fund sets up Sawani to boost camel dairy industry

The company will partner with players in the private sector to boost the production capacity of the camel dairy industry

FAB’s quarterly profit up 61% on higher rates

FAB’s quarterly profit up 61% on higher rates

The banking group’s operating income reached Dhs6.8bn in Q2 2023, a 37 per cent YoY increase from the same period a year earlier

ADCB

ADCB’s Q2 2023 net profit jumps 23% to Dhs1.93bn

The bank said its strong performance was driven by broad-based income growth and improved efficiency metrics

OYO to add 2000 apartments in Abu Dhabi

Hospitality tech firm OYO adds 2000 apartments in Abu Dhabi

The ready-to-move-in accommodations provide fully managed long-term housing rental spaces for professionals

Ethmar Holding

EIH Ethmar Group acquires stake in Nirvana Holding

EIH Ethmar’s strategic partnership with Nirvana to take forward a range of projects in the tourism sector, contributing to the growth of UAE’s economy

crypto currency

Kuwait bans cryptocurrency, crypto mining and transacting in virtual assets

The country’s Capital Markets Authority placed a prohibition on the use of digital currencies in making payments

Bangladesh PM with Dr Sultan Al Jaber

Dr Sultan al Jaber, Bangladesh PM Sheikh Hasina call for climate action to focus on world’s most vulnerable

Bangladesh’s PM Sheikh Hasina agreed to champion the food agenda at COP28 while underscoring the need for food systems transformation for sustainable development

Lombard Odier

Crypto Oasis Ventures, DIFC to collaborate on accelerator programmes

The partnership is expected to bring immense value to startups participating in DIFC Innovation Hub’s various accelerator programmes this year

G42 signs AI supercomputer deal with Cerebras Systems

UAE’s G42, Cerebras unveil world’s largest AI supercomputer

The two entities plan to deploy two more AI supercomputers, CG-2 and CG-3, in the US in early 2024

HSBC acts as custodian for debut DFM SLB transaction

HSBC acts as custodian for debut DFM securities lending transaction

The execution of the first international securities lending and borrowing transaction is the latest step in the continued evolution of Dubai’s capital markets

Hotel Indigo to open in Oxagon, NEOM (Image: Supplied by IHG Hotels and Resorts)

NEOM’s Oxagon to get 250-key Hotel Indigo

Located in the northwest of Saudi Arabia, the hotel will welcome its first guests in 2026

gcc

GCC Jeddah Summit: Sheikh Mohammed bin Rashid meets Saudi Crown Prince

Sheikh Mohammed is leading the UAE delegation to the GCC-C5 summit in Saudi Arabia

World’s first liquefied hydrogen carrier ship at Jeddah Islamic Port

Saudi’s energy minister visits world’s first liquefied hydrogen carrier ship at Jeddah Port

Saudi Arabia is focusing on clean hydrogen production and transportation as it seeks to transition its economy and energy mix

Staybridge Suites Dubai Business Bay (Image: Supplied by IHG Hotels and Resorts)

IHG to open dual-brand property in Dubai

A 275-key Holiday Inn and residential-style Staybridge Suites hotel in Business Bay will both be operational later this year

Abu-Dhabi based Multiply Group invest in EIG GettyImages-1331237787

Air France to commence daily direct flights to Abu Dhabi from Paris

It will begin operations on the route from October 29, 2023

Riyadh Air PSU sign MoU simualtor centre to be set up at campus Image courtesy Riyadh AIr

Saudi’s Riyadh Air to build first simulator centre at Prince Sultan University

Riyadh Air will partner with PSU to build long-term academic programmes to support students who want to pursue a career in aviation

UAE and Turkey sign deals worth $50bn Image courtesy WAM

UAE, Turkey sign accord, strategic agreements valued at $50.7bn

The countries signed a joint accord to establish a high-level strategic council, further cementing ties between the UAE and Turkey

Fluent Finance opens Abu Dhabi office

Fluent Finance opens Abu Dhabi office to advance trade finance

The blockchain firm said its new UAE entity will focus on deposit token infrastructure to promote cost-effective and borderless trade finance