Oil production to be hit after Saudi Arabia announces cuts. Image: Getty Images

Hot summer in the crude oil market as Saudi Arabia’s production cuts kick in

Across the world, where varieties of crude more closely resemble those from Saudi Arabia, prices are shooting up as refineries clamour for alternatives

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

UAE sets target to achieve 40% cut in carbon emissions by 2030

Sectors such as power and water generation, heavy industry, transport, waste, buildings, and agriculture will reduce emissions as per specific sectoral targets

DIFC first in region to join forces with AIMA_DIFC

UAE’s DIFC partners with Alternative Investment Management Association

The association represents more than 2,100 corporate members with over $2.5tn hedge fund and private credit assets

Sheikh Hamdan bin Mohammed unveils Dubai Digital Clouds project

Sheikh Hamdan unveils Dubai Digital Clouds project

The initiative seeks to reinforce Dubai’s position as a digital economy capital and further strengthen its robust and reliable digital infrastructure

Sharjah’s Arada posts 186% jump in H1 2023 sales

Sharjah’s Arada posts 186% jump in H1 2023 sales

The developer sold 1,616 homes at its communities during the first half of the year

ILOE deadline

Major change in Emiratisation rules; covers smaller private companies

The cabinet resolution on Emiratisation targets will apply to private companies operating in 14 economic sectors with 20 to 49 employees

Emirates unveils on-demand charter service

UAE, GCC travellers can now book charter flights with Emirates

The service allows customers to fly to several GCC destinations both within and outside of the carrier’s network

VARA suspends BitOasis’ MVP operational license

Here’s why VARA has chastised crypto exchange BitOasis

The crypto exchange platform said it will not accept any new clients until it fully complies with VARA requirements

kuwait

Kuwait announces holiday dates for Islamic New Year

The government of Kuwait has declared a two-day holiday to mark the Hijri New Year

Element West Bay by Westin (Image: Supplied by Element by Westin)

Marriott opens Element West Bay by Westin in Doha

The hotel has 180 studio, one-, two-, three- and four-bedroom apartments

EWEC secures four bids for 1,500MW Al Ajban solar project

UAE’s EWEC secures four bids for 1,500MW Al Ajban solar park

The solar farm will generate enough electricity to power approximately 160,000 homes across the UAE

ADGM issues hotel and tourism regualtions 2023 Image courtesy ADGM

Abu Dhabi Global Market issues hotel and tourism regulations

The regulations adopt some Abu Dhabi onshore tourism legislation to provide a better regulatory framework for hotels and tourism companies in ADGM

Emirates Group launches innovation majlis Image Emirates Group

Emirates Group unveils new Innovation Majlis

The majlis will showcase the latest in robotics, hyper-reality, holograms, 3D printers and other advanced technologies

ENOC Qatarenergy sign agreement Image Dubai Media Office_Enoc

UAE’s ENOC Group, QatarEnergy ink 10-year condensate supply deal

The agreement allows the companies to further raise the condensate volumes

QNB Group’s H1 net profit jumps 8% to $2.1bn

QNB Group’s H1 2023 net profit jumps 8% to $2.1bn

The bank’s operating income jumped 14 per cent year-on-year to QAR18.5bn compared to the same period a year earlier

MIDTOWN DUBAI

Deyaar launches Jannat, its final phase of residential development in Midtown Dubai

The integrated community comprises six districts spanning 24 buildings and a massive retail boulevard

Dubai Courts established division for inheritance and wills Image Dubai Media Office

Dubai Courts sets up division to address inheritance, will execution for non-Muslims

The new department aims to enable non-Muslims to execute their wills within a framework that guarantees the application of their personal laws and the management of probate matters

energy

Saudi Arabia, France sign MoU in energy

The energy cooperation framework aims to advance production of hydrogen and electricity using renewable sources

etisalat by e& launches payment solution 'uTap'

Etisalat by e& unveils its payment solution uTap

The payment solution allows businesses to securely collect and process payments while seamlessly integrating with their existing processes

ADCB is rebranding its wholesale banking

Here’s why ADCB is rebranding its wholesale banking

The rebranded division brings in-depth knowledge and expertise across a range of markets across the Middle East

revibe startup

Dubai-based circular economy startup Revibe secures $2.3m funding

The funding round for the startup was led by Resonance and Flat6Labs

Avani+ Palm View Dubai Hotel and Suites (Image: Supplied by Avani Hotels and Resorts)

Minor’s Avani Palm View Dubai property rebrands

The 48-storey hotel has become the first Avani+ property in the region

Crude oil market on tenterhooks over OPEC meet. Image credit: Getty Images

Voluntary oil supply cuts enough to balance the market: UAE

The UAE will not be undertaking oil supply production cuts even as Saudi Arabia looks to balance the markets

Dubai Municipality allocates 3,200 land plots to citizens

Dubai Municipality allocates 3,200 land plots to citizens in the emirate

The allocation of the land plots is implemented as per Dubai’s Higher Committee for Development and Citizens Affairs comprehensive citizen housing plans

Dubai Police Smart Police Stations achieves record in H1 2023 Image Dubai Police_Facebook

Dubai’s Smart Police Stations set new record in H1 2023

A total of 65,942 transactions were processed without any human intervention at the smart police stations during the period

Saudi oil production cuts

Saudi oil cuts could trigger slowdown in economy

The economy will fall by 0.1 per cent this year if the government raises production in September and by 1 per cent if it holds the course for the rest of 2023

RTA S'hail app image credit RTA

Dubai: RTA digital channels bring in Dhs3.5bn in 2022

In 2022, RTA recorded 814 million digital transactions up from 676 million in 2021

Emirates NBD to use generative AI across operations Image credit WAM

Emirates NBD to use generative AI to transform operations

The bank aims to boost software development, collaboration and customer engagement using tools such as GitHub Copilot X, ChatGPT and MS 365 Copilot

Emiratisation_9,000 Emiratis working in private sector

Emiratisation: 79,000 Emiratis working in private sector, says MoHRE

The figures reflect the highest-ever rate of Emiratisation recorded in the UAE private sector

oman

Oman announces holiday dates for Islamic New Year

The official holiday will apply to those working in both the public and private sectors in Oman