Aldar hikes retail portfolio investment to $272m

Aldar increases investment in retail portfolio to $272m

The investment follows the completion of Yas Mall’s Dhs500m redevelopment plan

Man tests positive for MERS virus in UAE,

Man tests positive for MERS virus in UAE, WHO confirms

Abu Dhabi has increased monitoring for the virus to try to identify potential cases and raise awareness by hosting workshops

Saudia Cargo

Saudia Cargo expands European services

The air cargo services provider has signed a strategic agreement with Jan de Rijk Co to expand its reach

Kylian Mbappe at PSG

Kylian Mbappe in Saudi Arabia? Al-Hilal offers $333m for PSG striker

The French striker has yet to make any decision on his next club, with only one year left on his contract at Paris-Saint Germain

Sheikh Hamdan amends resolution related to railways in Dubai Image Dubai Media Office Twitter

Sheikh Hamdan amends regulations governing railways in Dubai

The new resolution details RTA’s functions including the planning, design and development of the public railway network in the emirate

Image: Twitter / Etihad Airways

Etihad Airways among most punctual airlines in Middle East for H1 2023

Four million passengers will fly with Etihad over the summer months via its home base in Abu Dhabi

Rixos Dubai Islands Hotel & Residences Image Nakheel Rixos

Nakheel launches Rixos Hotel & Residences on Dubai Islands

Along with the Rixos property, Dubai Islands will be home to more than 80 resorts and hotels

Dubai Chamber expands global reach with Vietnam office

Dubai Chamber expands global footprint with Vietnam office

The office will support and guide Dubai-based companies seeking to expand into Vietnam throughout every stage of their international expansion

Gautam adani

Bain to buy majority stake in Adani Capital, Adani Housing

The sale of Adani Capital will help Gautam Adani cut liabilities on his conglomerate’s balance sheet as it focuses on its infrastructure development businesses

visa

Saudi Arabia launches ‘personal visit visa’ for Umrah

Personal visas can either be a single entry visa valid for 90 days or a multiple entry visa valid for 365 days

Morocco in FIFA Women's World Cup 2023

Morocco’s Atlas Lionesses’ debut in the FIFA Women’s World Cup 2023

The match will kick-off on July 24th at 12:30pm UAE time

DEWA joins CharIN to advance green mobility

DEWA bolsters commitment to green mobility by joining CharIN

The membership allows DEWA to actively participate in establishing industry standards for electric vehicle charging systems

El Ettifaq

El Ettifaq lure Liverpool’s Jordan Henderson

Henderson’s signing follows a string of other big names from the English Premier League that have been pulled in by Saudi clubs in recent months

Here's how many transactions Dubai Customs processed in H1 2023

Dubai Customs reports H1 highlights, processes 14 million transactions

Dubai Customs reported a 10 per cent surge from the 12.7 million transactions registered in the same period last year

Twitter

Twitter changes logo to X, bids ‘adieu’ to its blue bird

Twitter’s brand toolkit page on its website calls the light-blue bird its most recognisable asset but that looks to change imminently

GMG opens first Monoprix Maison outlet outside France Image GMG

UAE’s GMG opens first Monoprix Maison outlet outside France

The new outlet is located at Springs Souk Mall by EMAAR in Barsha Heights, Dubai

Rawabi Energy concludes one of the Largest Private Sector Syndicated Financing Image Rawabi Energy

Saudi Arabia’s Rawabi Energy concludes SAR7.175bn syndicated financing

The lending group also included First Abu Dhabi Bank acting as lead arranger

Saudi Arabia’s PIF launches firm to promote date industry

Saudi Arabia’s PIF sets up company to promote Ajwa dates

The company will play a key role in improving the quality and​ production capacity of Ajwa dates in the Madinah region

millet

This humble grain is showing up on Michelin-starred menus

Consumer goods companies are betting on increasing demand with innovative, millet-based snacks

US Treasuries

Here are the Asia bank earnings to watch after Wall Street results fuel optimism

Wall Street behemoths such as Bank of America, Morgan Stanley, JPMorgan Chase, and Citigroup beat analysts’ expectations in the second quarter, sparking anticipation about a similar upswing in Asia

UAE chases 7% growth to double economy to over $800bn

UAE chases 7% growth to double economy to over $800bn

The Gulf country is seeking bilateral trade deals and partnerships to ensure its economy is sufficiently diversified away from oil-dependent growth

Saudi Arabia Tunisia loan deal 3-SPA

Tunisia gets surprise $500m from Saudi Arabia amid IMF delay

The money comes at a sensitive time for Tunisia, which risks defaulting on its debt unless it wins a bailout from the IMF

Image: Twitter/ G-20 India

G-20 energy ministers meet as extreme heat puts focus on energy transition

The G-20 energy ministers’ meet in Goa is intended to lay the ground for a leaders’ summit in September and offer an opportunity to reinvigorate sluggish energy diplomacy

Appled developes Open AI, Ajax

Apple tests ‘Apple GPT,’ develops generative AI tools to catch OpenAI

Apple is laying the foundation for AI services with the Ajax framework, as well as a ChatGPT-like tool for use, internally

Aramco closes 3.4bn deal for 10 stake in Rongsheng

Aramco completes $3.4bn deal for 10% stake in Rongsheng Petrochemical

The deal represents the continued growth of Aramco’s downstream presence in China

Saudi wealth fund sets up Sawani

Saudi wealth fund sets up Sawani to boost camel dairy industry

The company will partner with players in the private sector to boost the production capacity of the camel dairy industry

FAB’s quarterly profit up 61% on higher rates

FAB’s quarterly profit up 61% on higher rates

The banking group’s operating income reached Dhs6.8bn in Q2 2023, a 37 per cent YoY increase from the same period a year earlier

ADCB

ADCB’s Q2 2023 net profit jumps 23% to Dhs1.93bn

The bank said its strong performance was driven by broad-based income growth and improved efficiency metrics

OYO to add 2000 apartments in Abu Dhabi

Hospitality tech firm OYO adds 2000 apartments in Abu Dhabi

The ready-to-move-in accommodations provide fully managed long-term housing rental spaces for professionals

Ethmar Holding

EIH Ethmar Group acquires stake in Nirvana Holding

EIH Ethmar’s strategic partnership with Nirvana to take forward a range of projects in the tourism sector, contributing to the growth of UAE’s economy