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electric aircraft

Abu Dhabi to launch first sustainable electric aircraft manufacturing facility in MENA

Monarch Holding and EHang Holdings have signed a partnership agreement to establish the facility in the region

Al Ghurair Foods

KEZAD Group, Al Ghurair Foods team up for Dhs1bn food processing projects

The agreement will mark the first phase of Al Ghurair Foods division’s investments in KEZAD

Mashreq Bank CEO Ahmed Abdelaal

Mashreq’s Q1 2023 net profit soars to Dhs1.6bn

The bank reported an operating profit of Dhs1.8bn, up 96 per cent compared to the same period a year earlier

Emirates check-in robot

Emirates unveils new ‘city check-in and travel store’ in DIFC

The new facility is a stylish and spacious contemporary space that is aimed at ensuring a hassle-free check-in experience for passengers

ADIB net profit Q1 2023

ADIB’s Q1 2023 profit surges to $299m on higher margins

The Islamic bank made a profit of Dhs1.1bn in the three months to March 31, up from Dhs715m in the same period last year

UAE’s First Abu Dhabi Bank branch

First Abu Dhabi Bank’s Q1 2023 net profit up 70%

The banking group’s operating income jumped 51 per cent YoY to reach Dhs6.7bn compared to Dhs4.5bn in the first quarter of 2022

Cambodia

UAE and Cambodia conclude comprehensive economic partnership agreement

The agreement will serve as a catalyst to increase and diversify bilateral trade by substantially eliminating tariffs, reducing non-tariff trade barriers and promoting trade

Breitling Premier B01 Chronograph 42 Collection_RGB

Breitling Premier chronograph makes its return after 80 years

The new Premier models are available on either a crocodile leather strap or a stainless steel bracelet

bilateral trade

UAE, European Union discuss boosting bilateral ties

Non-oil bilateral trade between the UAE and EU amounted to $56bn in 2022, achieving growth of 9.3 per cent

UAE Emiratisation

UAE announces new 2023 Emiratisation deadline

The authorities reminded non-compliant companies that they faced half-yearly fines of Dhs42,000 for every Emirati not hired

TAQA invest in clean energy startup

TAQA joins $37.3m funding round for clean energy startup Xlinks

Xlinks will use the proceeds to undertake the development of plans to lay the world’s longest high-voltage direct current subsea cables between the UK and Morocco

Israel - Air India, Lufthansa cancel flights (Image: supplied by Boeing)

Air India increases frequency to Dubai from Mumbai, Delhi

It includes an all-new flight on the Delhi-Dubai sector which will commence from April 29

Ethmar

Abu Dhabi royal-led firm Ethmar to list after capital raise

The firm which holds more than 25 subsidiaries is chaired by Sheikh Hamdan bin Mohammed bin Zayed Al Nahyan

Club Lab Golf co-founders

Club Lab Golf launches in the Middle East with Dubai studio

The bespoke studio is equipped with the latest cutting-edge sports technology and the venue includes two practice bays with large launch monitors

Cheval Maison - The Palm (Image: Supplied by Cheval Collection)

Cheval Maison serviced apartment brand opens in Dubai

The 131-key Cheval Maison – The Palm includes one-three bedroom apartments

Emirates expands its global network with Montréal flights

The airline said tickets to Montréal go on sale today for flights starting July 5 and can be booked on its website, the Emirates App or through travel agents

Dubai Marathon

Registrations now open for Dubai Marathon 2024

The marathon will return for its 23rd edition on January 7, 2024

Bay Island

Dubai’s Jumeirah Bay Island plot sells for $34m, sets new record

The buyer, who doesn’t live in the UAE, is planning to build a family vacation home on the property

Christian Hoehn, general manager of The Ritz-Carlton Abu Dhabi, Grand Canal (Image: Supplied by The Ritz-Carlton)

The Ritz-Carlton Abu Dhabi, Grand Canal launches on-site vertical farm

The farm is expected to generate 10kg of produce daily and has a 41 sqm footprint

Dubai Metro hits new milestone with over two billion riders

The metro has a fleet of 129 modern trains that caters to the mobility needs of the community across the city’s 53 metro stations

TTEK

AD Ports’ Maqta Gateway acquires border control solutions platform TTEK

The total purchase consideration for the acquisition of 100 per cent ownership amounts to $26.7m with an upfront payment of $17.1m

UAE to offer corporate tax relief to ‘public benefit’ entities

Organisations that qualify for the exemption include entities that focus on activities such as philanthropy, community services and corporate social responsibility

UAE, Germany

UAE, Germany explore partnerships to build on industrial ties and climate efforts

Ministry of Industry and Advanced Technology hosts around 30 German companies to discuss expanding cooperation in fields such advanced technologies and de-carbonisation

Saudi Arabia, UAE confirm the first day of Eid Al Fitr

The crescent Moon that signals the end of the holy month of Ramadan was spotted in the kingdom and the UAE on Thursday

EDB, Emirates Islamic partnership

Emirates Development Bank, Emirates Islamic partner to support SMEs

The Islamic lender is the 11th commercial bank to join EDB’s credit guarantee scheme platform

Ray Dalio, hedge fund billionaire, opens family office in Abu Dhabi

Ray Dalio set to open branch of family office in Abu Dhabi

The Dalio Family Office helps handle the billionaire’s private investments as well as his philanthropic donations

Mubadala co-leads funding round.

Abu Dhabi’s Mubadala co-leads Hasten Biopharma’s $315m funding round

The firm plans to use the proceeds to fund acquisitions and business development of innovative assets in the pipeline

Dubai Islamic Bank branch

Dubai Islamic Bank posts 12% surge in quarterly profit on higher revenue

The bank’s balance sheet expanded by 1.3 per cent YTD to Dhs292bn while customer deposits settled at Dhs198bn

UAE Dr. Thani bin Ahmed Al Zeyoudi.

UAE, South Africa seek to boost trade ties in energy, tourism

The country is the UAE’s second-largest trading partner in Africa, accounting for 8 per cent of total non-oil trade with the continent

Dubai real estate

Here’s how much Dubai’s real estate sector recorded in Q1 2023

The sector maintained its high growth momentum recording 38,700 transactions