ADX_stock-market

Abu Dhabi Securities Exchange ETF market surpasses Dhs1.4bn in traded value

Year-to-date growth in the turnover of ADX’s ETF market was supported by more than 11,400 trades of 227 million units

Qatar Airways starts direct flights to Düsseldorf, Germany

Qatar Airways starts direct flights to Düsseldorf

The airline offers services to Munich, Frankfurt and Berlin, making Düsseldorf its fourth destination in Germany

UAE’s Tabreed reports Dhs400m in nine-month net profit

The group revenue increased by 13 per cent to total Dhs1.66bn for the first nine months of the year

Empower

Empower rises in Dubai trading debut after $724m IPO

Empower is Dubai’s fourth privatisation in recent months

Emirates, GDRFA sign biometric data agreement to expedite processing at Dubai airport

The agreement improves passenger traffic procedures for Emirates customers transferring to connecting flights as well as for those arriving in Dubai

Why clean energy’s corporate patrons are buying less this year?

Why clean energy’s corporate patrons are buying less this year?

There are now more than 125 gigawatts of clean power under contract to large companies around the world

Silkhaus

UAE proptech startup Silkhaus raises $7.75m seed round

Silkhaus’ operating system for asset owners provides them with the tools needed to monetise and manage their properties for short-term rentals

Amazon, Meta join ranks of tech companies slashing thousands of jobs

Amazon, Meta join ranks of tech companies slashing thousands of jobs

In recent earnings reports, Alphabet, Amazon, Meta Platforms, Microsoft and others fell short of projections, sending shares plunging and shaving hundreds of billions of dollars from their market valuations

Nike

Nike to open its virtual sneaker store and trading platform

The sportswear company will release its goods on the Swoosh platform

Alula

Saudi’s Royal Commission for AlUla enters the metaverse

RCU has created a 3D model of Hegra’s Tomb of Lihyan, son of Kuza, a UNESCO World Heritage site

Oman’s sovereign wealth fund boosts assets to $41.5bn

The fund now manages over OMR16bn of assets in 40 countries and has achieved an annual average return of 10.3 per cent

Number of private schools in Dubai rises to 216

2022-23 academic year: Number of private schools in Dubai rises to 216

More than 326,000 students now attend Dubai’s private schools, representing a total of 187 nationalities

Abu Dhabi

Abu Dhabi expects IPO boom to continue, with 11 deals next year

Listings in the Middle East have seen strong investor interest

DP World

Inflation among key concerns for global supply chain, reveals DP World survey

According to the survey, the other challenges that freight forwarders are currently experiencing include rising and unpredictable freight rates

TAQA

TAQA Group reports nine-month net income of Dhs6.5bn

TAQA’s Board of Directors also declared an interim cash dividend of Dhs675m

EMAAR announces Jan-Sep 2022-results

Emaar reports net profit of Dhs5.8bn for first nine months of 2022

Emaar recorded the highest-ever group property sales of Dhs26.9bn ($7.3bn) during the nine-month period

Martin Tricaud of first Abu Dhabi Bank

Insights: How banks can unlock the finance needed to get to net zero

First Abu Dhabi Bank has structured green financing for the development of renewable energy projects, the construction of energy efficient buildings and infrastructure development for sustainable water management

OPEC cuts oil demand outlook as it starts to curb production

OPEC expects that it will need to pump an average of 28.92 million barrels a day of crude to satisfy demand during the fourth quarter

Air Arabia Abu Dhabi to launch direct flights to Tashkent

Air Arabia Abu Dhabi to launch direct flights to Tashkent

The flights will connect Abu Dhabi International Airport to Islam Karimov Tashkent International Airport, starting December 7

codeshare agreement

Abu Dhabi’s Etihad, Garuda Indonesia expand codeshare agreement

The expansion of the agreement will strengthen both airlines’ networks beyond Abu Dhabi and Jakarta hubs

agreement

Bahrain’s Gulf Air, Tamkeen sign agreement to advance cooperation

The agreement aims to support the training and employment of Bahrainis

Funding for green-hydrogen plant at Saudi Arabia’s Neom almost done

Funding for green-hydrogen plant at Saudi Arabia’s Neom almost done

Construction of the $5bn plant in the north-west of the kingdom has started

KFC

Gulf KFC operator seeks up to $1.8bn from Saudi, UAE IPO

The final offer price is expected to be announced on November 23 and trading on both exchanges will start December 6

Amazon

Amazon’s new warehouse robot could one day replace humans

Amazon employs hundreds of thousands of workers, whose dexterity and intuition currently let them pick and pack items more quickly and more reliably than existing machines

RTA completes three roads 2022

Dubai’s RTA completes construction of internal roads in three residential areas

RTA has also begun constructing internal roads and street lighting works in four new residential communities: Margham, Lahbab, Al Lesaily and Hatta

Abu Dhabi real estate_GettyImages-1316754718

Abu Dhabi real estate transactions cross Dhs21.04bn in Q3 2022

Yas Island topped the list logging transactions worth Dhs1bn, while Al Saadiyat Island came in second with transactions worth Dhs929m

Sanad and Indonesia's GMF agree landmark MoU

Abu Dhabi’s Sanad, Indonesia’s GMF to establish MRO centre for aircraft engines

The two entities will collaborate to build MRO capabilities dedicated to CFM engines at GMF’s existing facility in Jakarta

Noon.com Yellow Friday Sale

Noon.com, ADIO partner to set up UAE’s largest e-commerce fulfilment centre at KEZAD

ADIO will provide noon with financial and non-financial incentives to expand operations in Abu Dhabi

Tourism strategy

Sheikh Mohammed launches national tourism strategy to boost competitiveness

The strategy aims to attract new investments worth Dhs100bn to the country’s tourism sector

Aldar Properties joins CEBC

Aldar Properties joins Clean Energy Business Council as partner member

Aldar will collaborate with CEBC in its ‘Energy Efficiency’ working group to achieve goals that will promote a sustainable future and support the UAE Net Zero by 2050 Strategic Initiative