How Archer aims to revolutionise travel in the UAE

Flying Taxis: How Archer aims to revolutionise travel in the UAE

Nikhil Goel, chief commercial officer of Archer Aviation, showcases how the company is leveraging the strong global demand and its robust ecosystem to revolutionise urban air mobility

AD Ports Group to operate Egypt’s Safaga terminal

AD Ports signs concession deal to operate Egypt’s Safaga terminal

The 810,000 square metre project will have a dock length of 1,100 metres and a depth of 17 metres

Saudi’s Mawani inks four contracts worth SAR1bn

Saudi Arabia’s Mawani signs four contracts worth SAR1bn

The authority signed the contracts with Zamil Marine Services and Naghi Marine Company to provide diverse maritime services

UAE to announce petrol, diesel prices for January soon

UAE to announce petrol, diesel prices for January; will rates drop in 2024?

The fuel price committee reduced the retail rates for Super 98, Special 95, and E-Plus 91 by as much as 0.7 fils per litre in December

oil imports

Oil jumps over 2% amid further Red Sea vessel attacks

Further attacks on ships in the Red Sea prompted fears of shipping disruptions and on hopes of interest rate cuts that could boost economic growth and fuel demand

How REITS are unlocking the potential of UAE real estate

How REITs are unlocking the potential of UAE real estate

REITs in the UAE are a crucial component of the real estate investment landscape and provide opportunities for both local and international investors

GCC region M&A blazes trail as global deals decline

GCC region M&A blazes trail as global deals decline

The GCC region has proven to be one of the most kinetic deal markets in the world in 2023, with dealmakers expected to remain relatively active in the near future

islamic finance_ sukuks Getty images

Global outstanding sukuk market hits $823bn in Q3 2023

The growth in outstanding sukuk is attributed to several factors that are driving the issuance of Islamic bonds including issuers that seek to plug budget deficits

Businesses with at least 50 employees must ensure compliance with Emiratisation

Family-owned businesses ‘make up 90%’ of UAE’s private sector

The vast majority of businesses in the UAE are, interestingly, family-owned businesses, according to a key organisation representing this sector

RTA to build 762 bus shelters in Dubai by 2025

RTA to construct 762 bus shelters in key Dubai areas by 2025

The transport authority is exploring the use of 3D printing technology in the construction of some shelters on a trial base

Wizz Air Abu Dhabi carries 3 million passengers in 2023

Wizz Air Abu Dhabi carries 3 million passengers in 2023

The budget carrier operated more than 15,000 flights and carried three million passengers

crude oil

Oil eased ahead of Christmas break on possible future Angola output increase

Brent crude oil futures fell 32 cents, or 0.4 per cent, to settle at $79.07 a barrel

Sam Altman of OpenAI

OpenAI in talks to raise new funding at $100bn valuation

The terms, valuation and timing of the funding round have not yet been finalised and could still change

UAE's newly implemented end-of-service benefits scheme

UAE’s new end-of-service benefits scheme for employees: Why should you switch?

Hear from an expert on the UAE’s newly implemented end-of-service benefits scheme

UAE airports see 15 increase in air traffic during COP28

UAE airports register 15% jump in air traffic during COP28

The first day of the climate change summit witnessed the highest daily air traffic rate in the history of civil aviation in the UAE

Neodymium, on periodic table. Rare earth metal in lanthanide series, with atomic number 60 and element symbol Nd, from Greek neos didymos, meaning new twin. Used for lasers and high strength magnets.

China bans export of rare earths processing tech over national security

China has significantly tightened rules guiding exports of several metals this year, in an escalating battle with the West over control of critical minerals

UK

Has UK economy entered a recession? Q3 data suggest so

UK Finance Minister Jeremy Hunt said the outlook for the economy was not as bad as the updated official figures suggested

Angola quits OPEC in blow to oil producer group

Angola leaves OPEC in blow to oil producer group

The Southern African nation’s announced departure follows its protest against OPEC+’s decision to cut its output quota for 2024

The Lynas Rare Earths Ltd. processing plant in Kalgoorlie, Western Australia, on Wednesday, Aug. 3, 2022. Lynas, the only key supplier of the critical minerals outside China, has won further financial backing from Washington to build a plant in the US. Photographer: Carla Gottgens/Bloomberg

Saudi Arabia studies graphite, rare earths trading platform

The kingdom has been studying setting up the trading platform in the second half of 2023 but a decision is not expected any time soon

Cash deposits in UAE hit Dhs687.2bn by October-end

Cash deposits in UAE hit Dhs687.2bn by October-end

The central bank said cash deposits during the first ten months of 2023 soared by 8.12 per cent or Dhs51.6bn

Dubai economy sees growth in H1 2023 -GettyImages-1392301478

UAE central bank raises GDP growth outlook to 5.7% in 2024

The apex lender projected that the country’s overall GDP will grow by 3.1 per cent in 2023

Egypt raises $800m from hotels in divestment drive

Egypt raises $800m from hotels in divestment drive

The hotels, among Egypt’s grandest, include the Cataract in Aswan, the Winter Palace in Luxor, the Mena House in Cairo and the Cecil in Alexandria

ADNOC signs 15-year LNG supply deal with ENN Natural Gas

ADNOC signs multi-year LNG supply deal with China’s ENN Natural Gas

The deal is subject to a final investment decision including regulatory approvals and reaching a definitive sale and purchase agreement

AI in retail

How AI is transforming the retail experience: From fashion to ecommerce

Shopping is becoming more streamlined as retailers harness AI technology for personalisation, gamification and support, says Karl Escritt, CEO of Like Digital & Partners

Toshiba

From scandal to delisting: Toshiba’s long-running crisis

Toshiba will be delisted on Wednesday after 74 years on the Tokyo exchange, following a decade of upheaval and scandal

ACWA Power and Dutch Companies sign MoU Image Acwa Power

Saudi’s ACWA Power inks $4bn green hydrogen deal with Egypt

The initial phase of the project will generate 3,000 tonnes of green hydrogen annually, with the subsequent phase harnessing 2.4 GW of wind energy to produce 500,000 tonnes of green ammonia

Executive

UAE consumers worried about application failure during holiday season: Report

From staying connected with loved ones, to managing finances, consumers will heavily rely on diverse applications during their celebrations

Huawei

Huawei holds ICT competition in Bahrain to develop tech skills

More than 27,500 students from over 600 universities across 21 Middle Eastern and Central Asian countries have participated in this year’s competition

ARISTA

Arista Properties makes an inaugural entry into the UAE

With its first project strategically located at MBR City, Arista has brough on board architect firm Hirsch Bedner Associates and One Broker Group as agency partner

Mubadala Energy announces major gas discovery in Indonesia

Mubadala Energy boosts Indonesia exposure with major gas discovery

The Layaran-1 discovery provides the foundation for future organic growth and additional exploration drilling activities in 2024