Ajman construction contracts' value rises in H1 2022

Value of construction contracts in Ajman crosses Dhs2.1bn in H1 2022

Construction contracts in the emirate rose in value by 11 per cent compared to the two previous years

Bitcoin miners

Largest Bitcoin miners lost over $1bn during crypto crash

Core Scientific, Marathon Digital Holdings and Riot Blockchain posted net losses of $862m, $192m and $366m, respectively

Dubai rental rates see highest growth since May 2014

Rental growth in Dubai reaches highest rate since May 2014: CBRE

According to CBRE, average rents in the 12 months to July increased by 23.7 per cent, with average apartment and villa rents increasing by 23.5 per cent and 24.8 per cent respectively

London Heathrow Airport extends cap until Oct 29

London Heathrow Airport to continue capacity limits until October 29

Since introducing the cap, the airport reported that passenger journeys have improved with fewer last-minute cancellations and shorter wait times for bags

Air Arabia launches flights to Milan

Air Arabia announces launch of new service to Milan

Air Arabia customers can travel from Sharjah to Milan Bergamo Airport on four weekly flights starting from December 7

UAE Covid

UAE reports 775 Covid-19 cases, 656 recoveries

The nationwide Covid-19 case count has risen to 1,006,318

financial services

Banking-as-a-service is transforming the future of financial services

Banking-as-a-service is a revolution that combines the power of banks with the reach and customer loyalty of well known brands

ABu Dhabi Airports signs agreement with ICP

Abu Dhabi Airports, ICP partner to enhance service excellence, passenger experience

The agreement will see Abu Dhabi Airports and the Federal Authority for Identity, Citizenship, Customs and Port Security adopt best practices in areas of security, safety and air transport

Oman

Oman gets first upgrade from Fitch on oil-led fiscal turnaround

Fitch raised Oman’s long-term foreign-currency rating by one notch to BB

Emirates

Dubai’s Emirates to introduce A380 service to Bengaluru

Bengaluru will be the second city in India to be served by the Emirates A380 aircraft

Global cybersecurity Forum

Saudi’s NCA to host Global Cybersecurity Forum in November

Two-day forum will be held in Riyadh bringing together policymakers, governments, business, cybersecurity experts, academia and NGOs

Oil August 1

Oil extends losses on global slowdown and chance of more supply

Investors are also facing the prospect of rising supply as demand moderates

Gold

Gold holds decline as dollar reigns amid concerns over slowdown

Gold’s next move may hinge on the minutes from the Fed’s July meeting

Darktrace

Cybersecurity firm Darktrace in takeover talks with Thoma Bravo

Darktrace jumped more than 22 per cent to $6.50 in US trading on Monday

Frans Hiemstra

Uber’s Frans Hiemstra takes over as regional general manager for Middle East And Africa

Hiemstra has been with Uber since September 2015 and has taken on various roles over the years

Brand impersonation

Steps to protect against online brand impersonation attacks

Werno Gevers, cybersecurity expert at Mimecast, says cybercriminals are increasingly hijacking trusted brands to launch cyberattacks from lookalike web and email domains

Dubai Metaverse Assembly: WEF, Meta, Mastercard, Emirates participate as partners

Museum of the Future, Dubai’s DEWA partner to showcase innovative tech

The agreement aims to pave the way for constructive research to help solve current ecological challenges

DFM adds 20,552 new investor accounts in first 7 months of 2022

Dubai Gold and Commodities Exchange brokerage firms can now join DFM as derivatives members

Dubai Gold and Commodities Exchange-licenced brokerage companies can acquire a range of DFM derivatives membership licenses, including trading brokerage, and trading and clearing brokerage

Emirates A380 returns to Perth

Emirates to restart A380 daily service to Perth from December 1

The daily A380 service will replace the existing daily Boeing 777- 300ER operation between Dubai and Perth

Codeshare agrement signed between Emirates And Aegean

Emirates and Greek carrier Aegean Airlines sign codeshare partnership

From October, Emirates and Aegean Airlines will further increase their joint codeshare network to include eight more European regional routes via Athens

Etihad Airways announces second flight to Manila in October

Etihad Airways announces second daily flight to Manila

The second daily flight will commence on October 30, providing travellers with a total 14 flights per week between Abu Dhabi and the Filipino capital

Agility posts Q2 2022 profit

Agility reports KD16.1m net profit for Q2 2022, revenue grows 23.4% to KD138.4m

Agility reported H1 2022 earnings of 11.41 fils per share on a net profit of KD28.8m while revenue increased 22.9 per cent to KD270.5m

GFH announce H1 2022 results: Ghazi Al Hajeri, Hisham Al Rayes

GFH Financial Group net profit attributable to shareholders rises 13.9% to $42.18m

Total income for H1 2022 was $182.76m versus $181.01m for the 2021 period, an increase of 1 per cent

Dahua Technology

Dahua Technology strikes distribution partnership with Dubai-headquartered Abcom

The partnership follows Dahua Technology’s entry into the smart IoT and digital signage segment

Bitcoin June

Bitcoin tops $25,000 for first time since June amid crypto rally

The largest cryptocurrency rose as much as 2.2 per cent on Sunday to $25,031, its highest level since June 13

Arab Islamic Insurance Company Salama Chairman Jassim Alseddiqi

UAE’s Salama reports net profit of Dhs19.20m for H1 2022

The first half of the year saw Salama establishing new strategic tie-ups with banks in the UAE to provide omnichannel Takaful solutions to bank customers

304.6 million riders used public transport means in H1 2022- RTA

Number of people using public transport rises to 304.6m in H1 2022: RTA

According to the RTA, Dubai Metro ridership on both the Red and Green Lines reached 109.1 million riders in the first half of 2022

Everdome Gem Digital

UAE-based Everdome secures $10m investment commitment from Gem Digital

Gem’s investment will be focused on team growth and metaverse technological expansion, and will see the game’s virtual reality capabilities set on a fast-track

Oil extends losses as traders weigh Iran supply, demand outlook

Oil extends losses as traders weigh Iran supply, demand outlook

Oil is still up around 20 per cent this year and the surge in energy prices over the first half have underpinned record earnings for producers

RAK Chamber members' exports total Dhs1.644bn in Q2 2022

RAK Chamber members’ exports total Dhs1.644bn in Q2 2022

The chamber registered 402 new establishments in Q2 2022, including 185 commercial establishments and 193 professional establishments