Air Arabia’s quarterly profit soars 187% to Dhs459m

Air Arabia’s quarterly profit soars 187% to Dhs459m

The budget carrier flew more than 3.8 million passengers between April and June

Business partner

Why AI is the perfect business partner for UAE SMEs

SMEs must recognise that AI is not a futuristic concept, but a practical tool that can strategically augment and automate their processes

Moove

Moove raises $76m with investment from Mubadala, BlackRock

The round brings total funding to over $335m since inception across equity and debt

Bloom Arjaan by Rotana

Bloom Holding partners with Rotana for hotel apartment on Saadiyat Island

The property is being developed to combine the comforts of a home and the convenience of a hotel and easy access to Saadiyat Island’s attractions

Yahsat reinforces presence in China image WAM

UAE’s Yahsat reinforces presence in China

The Asia Pacific region is amongst the main international markets for the company due to its popular solutions, which includes Thuraya’s MarineStar

Riyadh Air signs first sports sponsorship deal

Riyadh Air signs multi-year sponsorship deal with Atlético de Madrid

The partnership is the first sports sponsorship deal that Riyadh Air has signed since its official launch in March

Lulu Mall in Fujairah

Lulu to raise $2.7bn ahead of possible IPO

The Abu Dhabi-based hypermarket chain is realigning its capital structure before a possible listing in 2024 after delaying those plans this year

Kerten Hospitality will debut its The House Residence brand in the Oxagon (Image: Supplied by NEOM)

Kerten Hospitality to enter NEOM’s Oxagon

A 200-unit serviced apartments property will welcome its first guests in 2025

DEWA

Dubai’s DEWA reports revenue of Dhs12.7bn in H1 2023

For the first six months of 2023, the utility giant reported a net profit of Dhs2.7bn

EFG Holding’s Q2 2023 revenue jumps 51% to $844m

EFG Holding’s Q2 2023 revenue jumps to EGP3.1bn

The banking group’s net profit after tax and minority interest rose by 20 per cent to reach EGP405m

Dubai’s VARA, DET to establish market assurance standards for virtual assets

The MoU strengthens VARA’s aim to achieve full transparency and market conduct adherence across virtual asset service providers licenced to operate in Dubai

Continent hotels

Continent Worldwide Hotels unveils Saudi Arabia expansion plans

Continent Worldwide Hotels said it was bringing three distinct properties to the Saudi cities of Maddinah and Dammam

ADIB finances UK real estate assets worth $128m in H1 2023

ADIB finances UK real estate assets worth $128m in H1 2023

The banking group has closed senior financing transactions worth more than GBP650m over the past five years

Network International’s half-year revenues reach $239m

Network International’s half-year revenues reach $239m

The payments company said growth was driven by the UAE’s resilient domestic consumer spending and a strong influx of tourists

Air India to feature new logo

Air India unveils new logo, livery under Tata Group

Fliers will see the new logo starting December 2023, when Air India’s first Airbus A350 enters the fleet

DCT Abu Dhabi

DCT Abu Dhabi, Air France-KLM partner to boost connectivity

The partnership expands Abu Dhabi’s global connectivity through daily flights to Paris

Samsung Galaxy

Samsung unveils new Galaxy Z Fold5, Flip5 in UAE

The brand has consistently refined and optimised the Galaxy Z series lineup

Breaking barriers

Breaking barriers: Enabling innovation with global communications

The advancements in mobile communications, broadband and the internet, has transformed our lives and opened up new possibilities that were once unimaginable

Al Ansari Financial Services Q1 2023

Al Ansari Financial Services reports dip in profits for H1 2023

It attributed the drop in net profit to predominantly lowered remittance margins, higher costs as well as an increase in financing costs

ACWA Power H1 2023 results Image Acwa Power

ACWA Power H1 net profit rises 26% to SAR684m

Operating income — before impairment, loss and other expenses — for the six-month period stood at SAR1,289m

Etihad skydiving stunt

Behind the scenes: Etihad’s mid-air orchestra skydiving stunt, watch here

The stunt was released to celebrate the worldwide launch of Mission: Impossible – Dead Reckoning Part One

rice price

Soaring rice prices stretch budgets for billions in Asia, Africa

Rice contributes as much as 60 per cent of total calorie intake for people in parts of Southeast Asia and Africa

GCC wealth funds are new bankers to the world

GCC wealth funds are new bankers to the world: Here’s why

The sovereign wealth funds from Saudi Arabia, Qatar and the UAE appear to have become go-to investors in difficult times for the global markets

Proximie

SoftBank-backed Proximie launches virtual robotic-assisted surgery training course

The first observership programme will begin on October 16

Image credit: Twitter/ Virgin Galactic

Virgin Galactic flies its first private tourists to space: Watch

The suborbital ride from a New Mexico spaceport caps nearly two decades of development work for Virgin Galactic

Abesq Doha Hotel and Residences opens in Qatar (Image: Supplied by Abesq Doha Hotel and Residences)

Abesq Doha Hotel and Residences opens in Qatar

Located in the city centre, it features 283 rooms, suites and serviced apartments

Dubai Customs prepare for return travellers

Dubai Customs increases services as vacation travellers return to UAE

The customs authority has increased the number of inspectors working on shifts, deployed scanners, and advocated for the use of its proprietary app

MoIAT

MoIAT, Mohammed bin Rashid School of Government partner to empower local talent

MBRSG will extend academic assistance to the ministry’s personnel, along with introducing creative training initiatives and research schemes

Amazon

Amazon’s robot workers to help run Australia’s largest warehouse

The 209,000 square metre four-level fulfillment centre is due to be complete in 2025

China'es economy enters a delation period

China slides into deflation as consumer, producer prices decline

A prolonged property market slump, plunging demand for exports and subdued consumer spending are weighing on the economy’s recovery