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UAE an enabler of global trade

UAE, Thailand agree to launch CEPA negotiations

The UAE has so far concluded four CEPAs with India, Israel, Indonesia and Turkey and the first two have already come into force

Deyaar Development

Dubai property firm Deyaar posts 125% surge in Q1 profit

The property developer’s net profit reached Dhs56.4m in the first three months of 2023 from Dhs25m in the same period last year

Tajikistan

UAE, Tajikistan sign air transport services agreement

The two documents aim to lift restrictions on designated carriers from the UAE and Tajikistan, and streamline trade and air traffic between the two nations

ADNOC Logistics shares will begin trading June 1

ADNOC to sell 15% stake in logistics unit in Abu Dhabi IPO

The share sale comes just a few months after state-owned ADNOC raised $2.5bn in the listing of its gas business

Burjeel Holdings

Burjeel Holdings’ Q1 2023 profit surges 43.4% to Dhs121.3m

The healthcare services provider said its revenues surged by 11.6 per cent year-on-year to Dhs1.1bn in the first quarter of 2023

restoration

World’s largest ocean restoration project unveiled in Dubai

URB unveils ‘Dubai Reefs’, a floating living lab for marine restoration and ecotourism

PureHealth, Ardent deal

PureHealth closes acquisition of Dhs1.8bn stake in Ardent Health

The completion of the transaction is expected to further strengthen PureHealth’s vision towards becoming a leading global player in healthcare

DXB T3 Dubai International

Dubai’s DXB sees passenger traffic reach 95.6% of 2019 levels in Q1 2023

India remained DXB’s top destination country with passenger traffic reaching three million, followed by Saudi Arabia, the UK and Pakistan

Abu Dhabi 2022 GDP

Abu Dhabi economy grows 9.3% in 2022 on non-oil activities boost

The city’s non-oil sectors witnessed significant growth of Dhs43bn in 2022 and contributed 50 per cent to the overall GDP

DEWA first quater net profit

DEWA’s Q1 2023 net profit up 10.4% to $208m

The utility company’s revenue for the first three months of the year hit Dhs5.44bn, up 7.3 per cent year-on-year

ADAFSA

Abu Dhabi Agriculture and Food Safety Authority, Hub71 partner to develop agtech innovations

Both entities will work to address the challenges faced by the agtech sector by connecting businesses with startups offering technology-based solutions

Careem's new visual indentity

Careem launches new visual brand identity

The ‘C’ wink and bold green remain central to the company’s new brand identity, with the notable logo only slightly tweaked

Barakah Nuclear Energy Plant unit 3

UAE’s ENEC inks nuclear energy deals with Chinese firms

The agreement covers cooperation in nuclear energy operations, in high-temperature gas-cooled reactors and fuel supply and investment

ADFD

ADFD finances sustainable water project in Mauritanian city of Kiffa

The contribution from ADFD towards this strategic project amounts to Dhs110m

Green Corp

Bahrain’s agribusiness platform Green Corp takes a stake in Badia Farms

Established in 2016, Badia Farms’ sustainable farming techniques produce fruits and vegetables without sunlight or soil

ADGM to expand jurisdiction May 2023

ADGM Financial District to expand, making it one among world’s largest financial centres

The UAE Cabinet’s resolution has expanded ADGM’s jurisdiction to Al Reem island in addition to Al Maryah island

EDB CEO, Ahmed Mohamed Al Naqbi

UAE’s EDB, Ministry of Economy recognise partner banks

The bank’s credit guarantee scheme aims to help SMEs overcome challenges in accessing financing from conventional banks

Emirates is deploying a fleet of 85 A380s

Emirates expects busy summer as travel demand improves

The airline is planning to debut flights to five new cities including London, Christchurch, Sydney, Melbourne and Auckland

UAE booming tourism sector

Soaring tourism numbers bolster UAE’s economy

UAE’s tourism sector defies odds to attract record tourist numbers over the past year

tech

UAE, US explore investment opportunities with focus on clean tech startups

Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade held one-on-one meetings with Austin-based startups, which are deploying technologies such as AI, blockchain and quantum computing

The resort will soar 305m off the ground. (Image: Supplied by Wynn Resorts)

The Wynn Al Marjan Island resort in the UAE will open by 2027

The 1,500 key property will be located in the emirate of Ras Al Khaimah

Mubadala, ADIB deal

Mubadala offloads 7.6% ADIB stake to National Holding

The state investor said the deal is in line with its strategy to create long-term value by optimising a global portfolio of investments

co-working space

Free co-working space now opens at Jumeirah Beach Residence

Spreading across 10,000 sq ft and with a total capacity of 80 desks, Cypher Hub is specifically designed for Web3 founders and entrepreneurs to collaborate, network and partner

Japan

UAE and Japan discuss strengthening comprehensive strategic partnership

The meeting took place as part of the Comprehensive Strategic Partnership Initiative launched last year

DIFC venture regulation

DIFC enacts new venture studio regulations

The enactment of the new regulations supports the DIFC Launchpad by providing a legislative framework for venture building

Measuring Climate risk insights from bloomberg LP

Opinion: Measuring climate risk and its importance

To determine a company’s exposure to climate-related risks investors need non-financial data, unlike for traditional types of financial risk

Aldar Properties Egyptian investment

Aldar Properties reaffirms its commitment to Egypt

The property firm said its investment in SODIC was one of the largest foreign investments in the Egyptian real estate sector

Samsung Pay

You can now pay your DEWA bill with Samsung Pay

DEWA is the first government entity in Dubai to adopt the Samsung Pay option within its digital channels

Emirates, Etihad partnership

Travel to UAE on a single booking: Emirates, Etihad Airways strengthen cooperation

Customers of each airline from this summer can buy a single ticket into either Dubai or Abu Dhabi, and return via the other airport

Etihad Airways BOTIM integration

Etihad Airways, Astra Tech partner to allow bookings on BOTIM

The integration of flights into the BOTIM app allows customers to enjoy a more convenient and all-inclusive travel experience