Dubai-Internet-City Tecom Group

Dubai’s Tecom Group sets IPO price range at Dhs2.46-2.67

The final offer price is expected to be announced on June 27, 2022

Department of Health - Abu Dhabi

Department of Health – Abu Dhabi and biopharma firm MSD GCC announce collaboration

Both the DoH and MSD share a vision of improving the health and wellness of UAE, through innovative medicines and vaccines and other healthcare services

Cartlow

UAE’s reverse logistics platform Cartlow secures $18m funding

The investment will provide the company with the ability to further expand its operations and services in Saudi Arabia and the UAE

Oil extends losses as traders weigh Iran supply, demand outlook

Oman wealth fund considers IPOs of state energy firm OQ’s units

The share sales are part of Oman Investment Authority’s plan to exit state assets in a bid to bolster the country’s coffers and expand its stock exchange

Etihad seasonal routes

Abu Dhabi’s Etihad launches five seasonal routes for summer

Three seasonal services took off on the morning of June 15

central bank

UAE Central Bank raises base rate by 75 basis points

Central banks across the GCC have also raised their interest rates

Egypt

UAE suspends re-export of Indian wheat for four months

The Ministry of Economy said that the decision comes in view of the international developments that have affected trade flows

DIFC FIntech week 2022

DIFC to host the region’s most comprehensive fintech event in June

More than 1,000 attendees, including fintech startups, investment firms, banks and service providers, are expected to attend DIFC FinTech Week on June 28 and 29

Honor Magic4 Pro

Honor unveils its flagship smartphone Magic4 Pro in the UAE

Honor Magic4 Pro will be officially available for sale on June 24, 2022

tracking tool

Fintech firm Modifi unveils free shipment tracking tool for cross-border commerce

The open-for-all shipment tracking tool helps businesses to track and manage shipments in one glance, on one platform

APICORP Mena energy investment outlook _ GettyImages

Energy investments in the MENA region to reach $879bn in five years: APICORP

The MENA region is well-positioned to supply around 10-20 per cent of the global hydrogen market by 2050, with the GCC and North Africa set to become global export hubs

PwC launches UAE cryptocurrency report, identifies three-stage facilitative model for regulation

Coinbase to lay off 18% of workers as crypto market worsens

The company plans to lay off roughly 1200 employees, ending the current quarter with about 5,000 employees

delta world charter CEO Dmitriy Korshunov

Dubai-based Delta World Charter reports earnings of $26m in Q1 2022

In Q1 2022, Delta World Charter delivered one million kilograms worth of medical supplies from Asia to North America

Bahrain’s BBK appoints seven women to boards of group firms

The Bahraini women are among a growing number of females taking on leadership roles across the Gulf region

Germany

UAE, Germany non-oil trade totals Dhs478bn in 10 years

Imports accounted for 89.5 per cent of the total trade exchange

UAE consumers

Price, quality or sustainability? Know what your customers want

Consumers in the UAE have the highest proportion of ‘quality appreciators’ and the lowest proportion of ‘cost-conscious’ consumers

Abu Dhabi Exports Office Capital Bank of Jordan

Abu Dhabi Exports Office, Capital Bank of Jordan financial deal to boost trade

The agreement will enable the availability of credit to the tune of Dhs73.4m to enhance the UAE’s exports to Jordan

Covid-19

UAE reports 1,356 Covid-19 cases, 1,066 recoveries

The nationwide case count has risen to 920,171

developer portal

Abu Dhabi’s ADIB launches API developer portal to drive open banking

The new portal will enable fintech developers to use the lender’s APIs for the purpose of developing their own applications

Oil extends gains after US crude stockpiles drop, exports soar

Oil holds near $121 as investors weigh tightening markets

Crude has rallied about 60 per cent this year as an economic rebound coincided with upended trade flows

Binance

Binance resumes Bitcoin withdrawals after temporary halt

The transactions were stuck because they were submitted to the exchange with low transaction fees

Xbox

PlayStation takes on Xbox with new subscription service

The new service combines Sony’s previous subscription offerings into a three-tiered system

Oracle

Oracle jumps after revenue tops estimates on strong cloud effort

Sales increased 5.5 per cent to $11.8bn in the fiscal fourth quarter, topping the average analyst estimate of $11.7bn

Masks

UAE reinforces use of masks in closed areas, green pass validity down to 14 days

Those found flouting the mask rule will face a fine of up to Dhs3,000

ENOC Group

Dubai’s ENOC Group bans single-use plastics across operations

As alternatives, ENOC has switched to more sustainable items such as paper bags, wooden straws, water dispensers with reusable bottles and recyclable lids

Patricia murphy

Palo Alto Networks hires Patricia Murphy as new VP Ecosystems, Partners and Strategic Alliances

Bringing over 25 years of experience in the technology industry, Murphy joins from Apple in France

Predictive data analytics

What are the benefits of predictive analytics for businesses?

Predictive data analytics is a vital component for businesses looking to stay ahead of their competition and scale efficiently whilst minimising risk

UAE reports 1,319 Covid-19 cases, 1,076 recoveries

The nationwide case count has risen to 918,815

Cathal Dowling Director invesco talks bonds, negative returns and more

From negative returns to bond yields, current investment trends mapped

Trends show investors have been buying bonds in a range of financial and corporate issuers, where yields provide a boost to the income the funds produce

Abu Dhabi Chamber to offer its services on government services platform TAMM

ADQ to buy Turkish pharmaceutical firm Birgi Mefar Group to strengthen portfolio

The investment expands ADQ’s life sciences capabilities in sterile injectables and wider pharmaceutical services segments