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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

India, UAE ban rice export

India bans rice exports, UAE follows suit: Possible impact on world food prices

With two of its main supply markets facing reduced production, the UAE has chosen to restrict exports and re-exports of rice for four months

e& Group’s Q2 profit jumps 3.8% to $681m

e& Group’s Q2 profit jumps 3.8% to $681m on subscriber growth

The group has a record subscriber base of 165 million users as of June 30, the highest in the company’s history

Tecom Group

Tecom Group’s H1 2023 net profit up 13% to Dhs485m

The H1 2023 revenue topped Dhs1bn, up 6 per cent YoY, driven by 87 per cent occupancy rate attributable to high retention rate and adding more than 1,500 new customers

Airalo secures $60m in Series B funding round led by e& Capital

Airalo raises $60m in Series B fundraising round led by e& Capital

The company is leveraging cutting-edge technology and a user-centric approach to empower travellers with seamless access to mobile networks

Nesma Kent

Saudi’s Nesma & Partners to acquire Dubai-based energy services firm Kent

The completion is anticipated by the end of the calendar year, subject to regulatory approvals and satisfaction of customary closing conditions

ADNOC L&S reports net profit in H1 2023

UAE’s ADNOC partners with Occidental to explore CCU investments

The partnership will assess the joint development of direct air-capture plants in the UAE that can absorb carbon dioxide out of the sky

e& c

Abu Dhabi’s e& enterprise concludes majority stake acquisition in Beehive

The telecom company announced it was acquiring 63.3 per cent of the peer-to-peer lending platform in May

Dubai maritime authority introduces new decision on transparency of local sea container chaerges Image courtesy WAM

Dubai: Transparency of local sea container charges improves with new rule

The decision outlines five important changes which will help ensure the adoption of global best practices across Dubai’s maritime ecosystem

Sultan Al Neyadi space nutrition experiment

Gardening in space: Sultan AlNeyadi’s new experiment looks at mental health impact of growing food

The experiment investigates the psychological impact on astronauts growing, tending, and consuming fresh produce during long-duration space missions

Corporate tax free zone digital public consultation

Corporate tax free zone public consultation: Deadline extended

The deadline for free zone-based businesses to share their inputs has been extended by a week

UAE joins BRICS

UAE’s GDP grows 3.8% in first quarter to $114bn

The country’s non-oil activities grew by 4.5 per cent year-on-year in the quarter to Dhs312bn

UAE Ukraine

UAE sends 250 tonnes of aid to Ukraine

The aid shipment will arrive in Poland and Romania by sea before being transported into Ukraine

DIFC

DIFC’s H1 results show 23% rise in companies joining financial centre

The financial centre saw a steady growth in the number of financially regulated firms establishing their base at DIFC

Al-Futtaim Automotive’s Katib Belkhodja on customer-centric approach

Exclusive: Katib Belkhodja on Al-Futtaim Automotive’s customer-first strategy

Al-Futtaim Automotive’s director of customer centricity tells us how the group plans to leverage digital ecosystems to create hyper-personalised customer experiences

US Ambassador to the UAE Martina Strong

Martina Strong is the new US Ambassador to UAE

The post of the US Ambassador to the UAE has been vacant since 2021

infrastructure development

UAE announces national programme for infrastructure development

Salamah 365 is a transformational project under the performance agreements signed by federal authorities in 2022

McDonald's UAE Umm Suqeim All-female Team at restaurant launch Image McDonald's UAE

McDonald’s UAE opens first outlet with all-female staff, features partial solar PV roof, EV charging ports

The latest venue features another ‘first’, as the branch has also introduced curbside ordering, allowing customers to place orders digitally from designated parking spaces

Mirabaud

DFSA fines bank Mirabaud $3m for anti-money laundering controls failings

The penalty includes disgorgement of $975,000, reflecting the economic benefit Mirabaud gained from its violations in the form of fees and commissions

Aldar Properties’ Q2 2023 profit jumps 52 to 354m

Aldar Properties’ Q2 2023 profit jumps 52% to Dhs1.3bn

The property giant’s development sales hit a record Dhs11.6bn in the three months to June 30, with 10 new project launches a year to date

ADNOC updates carbon emission target to 2045

UAE’s ADNOC sets ambitious emission target ahead of COP28

The company’s ambitious emissions target makes it the first in its peer group to accelerate its net zero target to 2045

Reconciling human progress with environmental protection byPascal Grante, Chief Executive Officer, Veolia Near and Middle East image Veolia

Insights: Reconciling human progress with environmental protection

The UAE has put environmental protection at the heart of its development agenda for decades; it was the first country in the GCC to sign the Paris Agreement and launch its Net Zero by 2050 Strategic Initiative

nol pay

Dubai’s RTA updates nol Pay app with 4 new features

The official payment platform seeks to improve the transportation experience in Dubai for residents, visitors and tourists

Supermoon

Supermoon in the UAE: Here are places to catch ‘sturgeon moon’ and ‘blue moon’

The night sky in August is a delight for stargazers with two supermoon set to occur after a gap of five years

MASDAR - CITAGLOBAL MALAYSIA Image Masdar

UAE’s Masdar, Citaglobal Berhad to develop clean energy projects in Malaysia

The companies will join hands to develop renewable energy projects in Pahang, Malaysia

Aldar boosts education portfolio investment to $368m

Aldar boosts investment in education portfolio to $368m

The expansion plan includes the establishment of Cranleigh Bahrain and the acquisition of Kent College Dubai and Virginia International Private School in Abu Dhabi

Abu Dhabi DMT announces H1 real estate transactions Image Abu Dhabi DMT

Abu Dhabi real estate sector records over Dhs46.33bn in deals in H1 2023

Al Saadiyat Island topped the list with transactions worth Dhs3bn, with Yas Island coming in at second place with transactions worth Dhs2.6bn