Neweast to set up auto parts hub in Jafza Image Jafza/ DP World

Neweast to establish Dhs500m auto parts distribution hub in Jafza

Neweast’s strategic hub in Jafza will support order fulfillment and delivery in the region for more than 160 premium aftermarket brands

Dubai Chamber of Commerce

Dubai Chamber of Commerce reports 30,000 new joinees in H1 2023

More than 30,000 new companies joined Dubai Chamber of Commerce during H1 2023 as value of members’ exports exceeds Dhs137bn

Dubai Taxi corporation

Dubai Taxi Corporation launches digital transformation strategic plan 2022-2025

The strategy seeks to accomplish a host of strategic goals highlighted by digital mobility, excellent operation, financial sustainability, people’s happiness and shaping the future

UAE CARBON CREDITS SYSTEM

UAE to develop national system for carbon credits using blockchain

The collaboration aims to reduce emissions and enhance sustainable agriculture, environmental health, and biodiversity in the UAE

India’s rice export ban sparks concern that sugar may be next

Uneven rainfall across the country’s agricultural belts has stoked concern that sugar production will fall short

PIF launches fitness and wellbeing company

Saudi Arabia’s PIF sets up fitness and well-being company

Kayanee will adopt a female-focused approach to all its services, prioritising mental, physical and social health to create a vibrant society

Masdar green bond at London Stock Exchange

Masdar marks $750m green bond debut with market opening at London Stock Exchange: Watch

This bond is the first part of a programme to raise up to $3bn to meet Masdar’s equity funding commitments on new renewable energy projects

Emirates Delivers

Emirates Delivers, e-commerce delivery platform, now in Kuwait

The platform provides a door-to-door transport solution to bring customers the e-commerce purchases from the UK and the US in three to five working days

Yasser Nasr-Aldin, co-founder, chief strategy officer and head of investment at YaSchools Image YaSchools

Saudi edtech YaSchools raises $600,000 in seed round, plans for expansion to Jordan

Since the launch of its microlending services in early 2023, YaSchools has received financing requests worth more than $40m

OPPO

OPPO: Building on inspiration and innovation

OPPO MEA’s new president Chi Zhou on the factors bolstering the brand’s popularity in the region

Kenya Airways

Kenya Airways, Delta Air Lines expand codeshare partnership

The partnership offers customers additional travel options within the US and increased flying opportunities within Africa

ADQ to open next gen greehouse in ADQ Image ADQ twitter

Abu Dhabi’s ADQ, Safe Haven Solutions to construct high-tech greenhouse in KEZAD

The new project will use advanced technology to sustainably cultivate tomatoes and cucumbers year-round in the UAE

Ajman Bank Dhs550m right issue oversubsribed Mohamed-Amiri Image courtesy Ajman Bank

Ajman Bank’s Dhs550m rights issue receives strong response

The rights issue was oversubscribed 7.4 times, with a total demand of Dhs4.1bn

Saudia inaugurates flights from Riyadh, Jeddah to Beijing

Saudia launches flights connecting Riyadh, Jeddah with Beijing

The new routes reinforce Saudi Arabia’s commitment to boost the growth of the tourism and aviation sectors

Saudi Aramco reports Q2 2023 earnings

Aramco reports a drop in profits of 38% in Q2 2023

The world’s largest oil company reported that it had paid out a base dividend for Q1 2023 of $19.5bn in the second quarter, which was up 4 per cent year-on-year

Saudi

Saudi city of future enlists Dutch help to grow crops in desert

It is carving out an area the size of some 15 soccer fields to form a horticulture oasis on the outskirts of Neom

Fairmont Ramla Serviced Residences Riyadh (Image: Supplied by Fairmont)

Fairmont opens its first Saudi serviced residences property

The 249 residences range in size from one-bedroom suites to four-bedroom penthouses

Ukraine peace talks in Jeddah, KSA

Ukraine peace plan talks end in Saudi Arabia

A tangible outcome from the Jeddah meet was a plan to form working groups under various points of the Ukraine peace formula

Saudi wealth fund PIF reports $15.6bn loss in 2022

Saudi wealth fund takes $15.6bn hit from SoftBank and tech

The fund’s assets under management grew to $595.5bn from $527.8bn in 2021 despite the $15.6bn loss

Standard Chartered

Standard Chartered, DIFC Innovation Hub partner to empower UAE women entrepreneurs

The Women in Tech accelerator programme offers entrepreneurs a platform to unleash their potential, overcome barriers and accelerate their business ventures

Dubai Police adds Mercedes EV SUV to fleet Image Dubai media Office Dubai Police twitter

Dubai Police has added this new luxury EV to its fleet

The luxury EV features a 516hp dual-engine capable of accelerating from 0-100kmph in just 4.3 seconds

UAE MoF announces strategic plan_Photo-courtesy WAM MoF

UAE: Ministry of Finance announces strategic plan for 2023-2026

The plan will develop financial policies to promote economic growth, create a competitive business environment and strengthen international economic relations

Dubai tourism numbers for H1 2023

Dubai surpasses pre-pandemic international tourism levels in H1 2023

The emirate said there were 8.55 million international tourists in the January-to-June period this year, the best first-half performance yet

Saudi Arabia’s PIF sets up company to promote sports sector

Saudi Arabia’s PIF sets up company to promote sports sector

SRJ Sports Investments will invest in businesses specialised in offering unique fan engagement activities and transformative sports technology

Wellington Management opens Dubai Office

Wellington Management set to expand into Middle East with Dubai office

Wellington has been managing assets for clients in the Middle East and North Africa for 29 years and decided to expand into the region to support local needs

ADNOC Gas reports $2.3bn in half-year net income

ADNOC Gas’ H1 2023 net income plunges to $2.3bn

Brent crude oil prices, which are used for gas pricing, decreased by nearly 31 per cent during the period under review

supply chains

How artificial intelligence is helping deliver smarter supply chains

Taarek Hinedi, vice president of FedEx Express Middle East and Africa operations, showcases why the company is a pioneer in express transportation

The new Land Rover Defender 130 surfs the dunes

The beast can go from zero to 100 km/h in 6.6 seconds, and that’s just one of the things we love about it

Saudi Fund for Development signs loan agreement for hospital project Image SFD

Saudi Fund for Development signs $75m loan agreement for hospital project in Saint Lucia

This agreement is part of SFD’s efforts to support sustainable development in developing countries and small island developing states

Burjeel Holdings’ half-year profit up 47% to Dhs225m

Burjeel Holdings’ half-year profit up 47% to Dhs225m

The healthcare services provider’s H1 revenues surged by 13.9 per cent year-on-year to Dhs2.2bn, driven by an increase in patient footfall