Dubai_Mohammad AlBlooshi - Head of DIFC Innovation Hub and FinTech Hive 2023 DFS

Exclusive: How Dubai is bolstering its global fintech hub status

Mohammad Alblooshi, head of DIFC Innovation Hub and Fintech Hive, showcases Dubai’s role in the global fintech ecosystem

Tecom Group Q1 Dubai-Media-City_web

TECOM Group’s Q1 2023 net profit rises 34% to Dhs255m

The group’s Q1 revenue touched Dhs514m, a 6 per cent year-on-year increase on the back of sustained occupancy levels and high retention rates

Amsa Hospitality

Amsa Hospitality, Accor join forces to bring 18 new hotels to Saudi by 2032

The agreement will see Amsa Hospitality develop a range of Accor’s economy and midscale brands while also acting as the third-party operator by leasing and franchising the assets

flydubaiBoeing737MAXAircraft4 Dubai Media Office flydubai

UAE’s flydubai records 50% rise in passengers in Q1 2023

The carrier will grow its capacity across the network by 20 per cent between July 1 and September 30

Mubadala and Apollo jointly invest Brightspeed

Mubadala, Apollo Funds jointly invest $500m in Brightspeed

The investment gives Mubadala a minority shareholding in Brightspeed alongside funds managed by affiliates of Apollo

Image e& Group

UAE’s e& reports consolidated revenue of Dhs13bn in Q1 2023

In the UAE, etisalat by e& recorded 13.9 million subscribers an increase of 6 per cent compared to the same period last year

DIFC Academy

DIFC Academy collaborates with PwC’s Academy to upskill UAE tax practitioners

The two entities will offer the UAE Corporate Tax Diploma Programme

UAE airports _DXB

UAE airports passenger traffic jumps by 56.3% in Q1 2023

The number of people travelling through UAE airports reached approximately 31.8 million, an increase of more than 11.5 million

Sudanese

UAE sends food aid to Sudanese refugees on Chad border

The aid was sent to provide urgent support to refugees affected by the current crisis in Sudan, which has led to the displacement of thousands of families

ADNOC Group AlRuwais plant

ADNOC Group to build new low-carbon LNG plant in Ruwais

The location’s proximity to ADNOC’s current operations and its future growth projects were all important factors in the decision

Abu Dhabi's Khalifa Fund, AlMaryah Bank to provide digital banking services

Abu Dhabi’s Khalifa Fund, AlMaryah Bank to provide digital banking services to SMEs

The bank will provide exclusive benefits to Khalifa Fund members in accordance with the agreement

Apparel Group

Apparel Group expands presence in Kuwait with 12 new store openings

The line-up of stores feature brands such as Birkenstock, Beverly Hills Polo Club, Dune London, Levi’s, The Children’s Place, Steve Madden, among others

Qatar see a surge in air travel

Qatar Airways sees robust travel demand amid capacity squeeze

The Doha-based carrier has seen leisure and business demand surge after travel restrictions were eased, but continues to be hamstrung by a lack of new planes

Winners of the Business Traveller Middle East Awards 2023. (Image: Motivate Media Group)

Business Traveller Middle East Awards 2023: Here are all the winners

The 22nd edition of the annual awards included 40 award categories spanning airlines, airports and hotels

ADNOC Gas

ADNOC Gas, TotalEnergies Gas and Power ink 3-year LNG supply deal

The three-year contract is expected to commence in 2023 and will run through 2025

A.R.M. Holding CEO Mohammed Saeed Al Shehhi on company growth

How A.R.M. Holding sustains competitive edge in Dubai’s real estate market

A.R.M. Holding CEO Mohammad Al Shehhi talks to us on the company’s growth strategy and its growing real estate portfolio

Saudi National Bank profit Q1 2023

SNB to hold 0.5% stake in UBS Group after merger with Credit Suisse

The bank’s investment in Credit Suisse plunged by approximately 20 per cent by the end of 2022 and a further 70 per cent in Q1 2023

Aramco, PIF and China’s Baosteel steel JV

Aramco and PIF set up JV to build steel plant with China’s Baosteel

The steel manufacturing base has a designed annual capacity of 2.5 million tonnes of direct reduced iron and 1.5 million tonnes of steel plate

Dubai tourism in Q1 2023

Dubai welcomes 4.67 million tourists in Q1 2023

The visitors in Q1 2023 were just two percentage points short of the pre-pandemic volume of 4.75 million tourists that arrived in Dubai in the first three months of 2019

BitOasis is poised to become the first to receive an FMP licence

BitOasis secures MVP operational license from Dubai’s VARA

The crypto trading platform plans to launch new virtual asset products with a continued focus on driving accessibility and consumer protection

Sharjah Airport

Sharjah Airport records footfall of over 3.8 million passengers in Q1 2023

The aircraft movement for the same term also increased by 9.02 per cent, with 23,261 flights by the end of March

Morocco

UAE, Morocco review strengthening financial, economic cooperation

Both the countries agreed to double the volume of trade and investment exchange over the next seven years

AD Ports Group strengthens fleet

AD Ports Group bolsters its fleet with Dhs955m investment

The acquisition of the new vessels is part of the company’s expansion strategy that is aimed at broadening its portfolio of services

Rotana at ATM (Image: Supplied by Rotana)

ATM 2023: Rotana to have 120 operational hotels by 2030

Saudi Arabia and Egypt will be the key markets for the group’s expansion in the region

Arabian Travel Market Dubai 2023 Photo WAM

Arabian Travel Market 2023 starts on May 1

For the first time, Arabian Travel Market 2023 will feature a Sustainability Hub, which will offer a venue for sessions dedicated to the latest sustainable travel trends and innovations

Abu Dhabi to welcome more visistors photo WAM DCT Abu Dhabi

Abu Dhabi to welcome more than 24 million visitors this year

Abu Dhabi welcomed 18 million visitors in 2022, which is a 13 per cent increase from the previous year

Dubai Culture launches mobtakir

Dubai Culture launches Mobtakir diploma for entrepreneurs

Applications are currently open and without charge to all UAE residents, including students, professionals, and small business owners until May 20

UAE increase petrol price

UAE raises fuel prices for May 2023

The fuel price committee marginally increased petrol prices by 15 fils for the month of May

UAE Banks Federation signs off on strategic plan and goals photo WAM

UAE Banks Federation approves strategic plan to boost banking sector

The plan will see 5,000 UAE nationals employed in the banking and financial sector by 2026

sneakers

Are you ready to invest in sneakers?

From everyday wear to an alternative asset class, we look at the transformation of sneakers