Hub71 AIQ

Abu Dhabi’s Hub71, AIQ partner to accelerate AI-driven transformation of the energy industry

The collaboration will see both companies accelerate the development of digital technologies to unlock greater value from oil and gas operations

Polestar MOE store

Polestar Space launched at the ‘Store of the Future’ in Dubai’s MoE

The opening of the Polestar Space in Mall of the Emirates follows the debut of the Swedish EV auto brand in the UAE in February

Indonesian government

Indonesian government lists two sukuk valued at $3.25bn on Nasdaq Dubai

The Indonesian government is one of the largest sukuk issuers on Nasdaq Dubai

Toufic Kreidieh, Co-founder and CEO of Brands For Less Group

Brands For Less’ Toufic Kreidieh on the company’s recent expansion

The co-founder and CEO spoke to Gulf Business about the company’s recent expansion to Qatar and other key retail trends in the region

Mubadala to acquire Envirotainer

Abu Dhabi’s Mubadala, EQT Private Equity to acquire Swedish biopharma transport services provider

EQT Private Equity and Mubadala will seek to support Sweden-based Envirotainer in its next phase of growth by accelerating expansion in the APAC region

Samia Bouazza, CEO and Managing Director at Multiply Group

Multiply Group joins FTSE Global Equity Index Series

In March, Multiply Group was added to the newly designed FTSE ADX 15 – the first index co-developed under the FTSE ADX partnership

Network International

Network International partners with FreedomPay

Strategic collaboration will enable Network to offer a fully integrated payments platform to its hospitality and retail merchants in UAE and MEA region

Emirates

Dubai’s Emirates, South Africa’s Airlink activate codeshare partnership

Emirates currently offers double daily flights to Dubai from Johannesburg, daily flights to Dubai from Cape Town and five weekly flights to and from Durban

GDPR data

Four tips on robust compliance for UAE businesses in the age of GDPR

A new approach to data management is required – one that makes compliance easier and delivers advanced security while removing data silos

Jordan

Saudi wealth fund’s $3bn Jordan unit aims to ramp up deals

The investment is expected to create more than 5,000 jobs and will be the first of several deals announced by the fund over the next year

MacBook Air

Apple unveils its biggest MacBook Air redesign in over a decade

The company showcased the updated laptop on Monday at its Worldwide Developers Conference

Fenix Bahrain

Abu Dhabi-based Fenix launches ride-hailing service in Bahrain

The electric mobility and deliveries platform plans to add Fenix Taxi offering across its footprint starting with two other markets over the summer

DP World

Canada fund CDPQ to invest $5bn in DP World’s Dubai assets

The Montreal-based pension manager will take a 22 per cent stake in DP World’s Jebel Ali Port, Jebel Ali Free Zone and the National Industries Park

valU EFG-Karim-Awad

FAS Labs, valU partner to offer digital consumer finance services in Saudi Arabia

The agreement will accelerate the geographical expansion of valU and provide digital finance solutions to consumers in Saudi Arabia through FAS Finance

ADGM new property legislations for off plan

ADGM issues new rules for off-plan property sales on Al Maryah Island

Abu Dhabi Global Market has also amended the existing real property related fees by enacting the Real Property Regulations (Fees) Rules 2022

Covid-19

UAE reports 579 Covid-19 cases, 476 recoveries

The nationwide case count has risen to 911,514

Mercedes

Mercedes to recall one million cars on fear of faulty brakes: AFP

More than 993,000 vehicles were being recalled worldwide, of which 70,000 were in Germany

EFG hermes Boursa Kuwait

EFG Hermes wraps up advisory on $323m private placement ahead of Ali Alghanim and Sons’ IPO

This is a significant milestone for EFG Hermes, as it’s the firm’s first IPO on Boursa Kuwait where it has acted as a joint bookrunner for the offering

Inflation doesn’t stop UAE’s biggest business upswing this year

The rate of job creation in UAE was the quickest in seven months despite the inflation

Data environmental

Three ways data is helping industrial companies to achieve environmental KPIs

When aggregated and contextualised, data can help unlock sustainability dividends on the road to our common net-zero targets

ekar SellAnyCar partnership

Ekar, SellAnyCar.com partner to offer mobility solutions

SellAnyCar.com customers can now instantly drive away upon selling their car with no paperwork or down payments via the ekar app

Crypto Oasis and Roland Berger partner

Crypto Oasis, Roland Berger partner to boost region’s crypto economy

Roland Berger and Crypto Oasis will explore opportunities in the fields of blockchain and decentralised technologies in the region

World Environment Day: Scaling a circular economy

We look at some companies in the UAE that have championed a circular economy, while promoting sustainability and conscious consumerism

EMPLOYEE WELLBEING - INSIGHTS BY Jerome Droesch, CEO MEA and SEA

Insights: Why employee wellbeing is key for productivity

Holistic health is no longer just a buzzword and feel-good rhetoric, but a necessity to retain an inspired, engaged workforce

Sheikh Mohamed bin Zayed Al Nahyan has ordered the completion of all housing grant applications submitted in previous years through the Sheikh Zayed Housing Programme, at a total cost of around Dhs2.3b

Sheikh Mohamed bin Zayed orders completion of pending housing grant applications

The President has ordered the completion of all housing grant applications through the Sheikh Zayed Housing Programme, at a total cost of around Dhs2.3bn

Public Investment Fund

Saudi wealth fund to take $185m Jordanian bank stake

The Public Investment Fund signed a subscription agreement that would involve it buying 63 million newly issued shares

Bitcoin

Bitcoin heads higher in attempt to escape $30,000 level

Bitcoin and the rest of the cryptocurrency complex has struggled in recent months as the Federal Reserve hikes interest rates

Saudi Arabia

Saudi raises oil prices amid Asia rebound

Saudi Arabia sends more than 60 per cent of its crude exports to Asia, with China, Japan, South Korea and India being the biggest buyers

landfills

Dubai Airports’ new initiative to divert 60% of DXB’s waste from landfills by mid-2023

The food waste plan was created in partnership with Sharjah’s Beeah Group

Digital wallet

Did you know that over half of the UAE population use digital wallets?

The survey was commissioned by Checkout.com and conducted by YouGov, polling over a 1000 UAE residents during May 19 and May 24, 2022