OPEC

OPEC oil export revenue was highest in almost a decade last year

OPEC+ nations are engaged in production cuts to balance prices in crude markets

Dubai property market

Dubai’s residential prices grow at the strongest pace since late 2014

Downtown Dubai registered the highest sales rate per square foot in the apartment segment of the market, while Palm Jumeirah registered the highest sales rate per square foot in the villa segment

Abu-Dhabi based Multiply Group invest in EIG GettyImages-1331237787

Abu Dhabi-based Multiply Group invests $100m in EIG’s Breakwater Energy

This investment comes under Multiply+, the group’s sector-agnostic arm

Uber Green fares dropped in Dubai Image credit Uber

Uber Green fares reduced in Dubai

Each Uber Green trip emits at least 25 per cent less carbon emissions than the average ride

prenatal

Al Tayer Group partners with DAHC to support the Centre for Prenatal Paediatrics at Latifa Hospital

This collaboration aims to prioritise prenatal and maternal care in a secure and nurturing environment while delivering multidisciplinary care

Emirates NBD to offer fractional bonds for individual investors -GettyImages-630846210

Emirates NBD to offer fractional bonds to individual investors

The product offering will enable accessibility for individual investors to bond markets with a minimum investment of $25,000

Emirates connects 800 cities via partner deals

Emirates connects 800 cities via partner deals

The carrier plans to continue to evolve its partnership strategy by advancing many of its interline partnerships to full-fledged codeshare agreement

Dubai bolsters its cybersecurity strategy

Dubai launches second cycle of its cybersecurity strategy

The city has emerged as a global leader in cybersecurity by implementing secure digital systems and adopting advanced technical solutions

Commercial Bank of Dubai posts 41.5 jump in H1 profit

Commercial Bank of Dubai posts 41.5% jump in H1 profit

The bank reported an operating income of Dhs2.5bn in the first six months of 2023, up 41.9 per cent from Dhs1.7bn for the same period a year earlier

Agthia Ventures launched Image Agthia Group

Abu Dhabi-based Agthia Group launches $54m CVC fund

The fund is stage-agnostic and will invest primarily in companies with clear product-market fit that are demonstrating revenue growth

Yahsat to invest $100m in T4-NGS satellite programme

Abu Dhabi’s Yahsat to invest $100m in T4-NGS satellite programme

The company seeks to boost its investments in the coming years to enhance its fleet, including the potential launch of two new satellites

Aramco, PIF and China’s Baosteel steel JV

Saudi Arabia’s sovereign wealth fund PIF reports $11bn loss for 2022

The PIF is in the midst of a global investment spree after it was transformed from a domestically-focused holding company into a sovereign fund in 2016

UAE’s ADIB raises $750m in AT1 perpetual Sukuk.

UAE’s ADIB raises $750m in AT1 perpetual Sukuk

The issuance was met with robust demand, attracting interest from over 240 global and regional investors with the final order exceeding $7bn

RENEWABLE ENERGY

EWEC meets 80% of Abu Dhabi power demand with renewable sources for first time

EWEC is accelerating the implementation of Abu Dhabi’s energy transition to reduce reliance on hydrocarbons and meet its energy demand through renewable sources

Courtyard by Marriott Jubail (Image: Supplied by Courtyard by Marriott)

Courtyard by Marriott opens in Jubail

The 165-key property is located within Saudi Arabia’s Eastern Province

Oil production to be hit after Saudi Arabia announces cuts. Image: Getty Images

Hot summer in the crude oil market as Saudi Arabia’s production cuts kick in

Across the world, where varieties of crude more closely resemble those from Saudi Arabia, prices are shooting up as refineries clamour for alternatives

Emirates' dedicated lounge in Terminal 1 of Paris CDG airport (Image: Supplied by Emirates)

Emirates customers in Paris can now access dedicated lounge

The carrier has partnered with Extime to offer the exclusive lounge in Terminal 1 of Paris Charles de Gaulle airport

UAE Austria sign air transport services agreement Image WAM

UAE, Austria sign air transport services deal

This agreement paves the way for closer ties between the two countries and a rise in trade exchange due to bolstered air transport services

DIFC first in region to join forces with AIMA_DIFC

UAE’s DIFC partners with Alternative Investment Management Association

The association represents more than 2,100 corporate members with over $2.5tn hedge fund and private credit assets

Sheikh Hamdan bin Mohammed unveils Dubai Digital Clouds project

Sheikh Hamdan unveils Dubai Digital Clouds project

The initiative seeks to reinforce Dubai’s position as a digital economy capital and further strengthen its robust and reliable digital infrastructure

Sharjah’s Arada posts 186% jump in H1 2023 sales

Sharjah’s Arada posts 186% jump in H1 2023 sales

The developer sold 1,616 homes at its communities during the first half of the year

Taaleem Holdings posts $54.5m in 9M 2023 net profit

Dubai’s Taaleem posts $54.5m profit since IPO

The school operator added 28,563 students for the 2022/23 academic year, a 36.2 per cent YoY increase in enrolments

Abu Dhabi Catalyst Partners makes a strategic investment in MEASA Partners Image creit Abu Dhabi Catalyst Partners

Abu Dhabi Catalyst Partners announces investment in MEASA Partners

Abu Dhabi Catalyst Partners is a joint venture between Mubadala Capital and Alpha Wave Global

threads

Threads surpasses 100 million users: Here’s how it is different from Twitter

The Threads app which was launched under the Instagram umbrella is fast catching up to its competitor Twitter

EFG Holding’s aiBANK launches instant payments via InstaPay

EFG Holding’s aiBANK launches instant payments via InstaPay

The bank said access to InstaPay App will offer its customers a new level of convenience and flexibility in managing their finances

Element West Bay by Westin (Image: Supplied by Element by Westin)

Marriott opens Element West Bay by Westin in Doha

The hotel has 180 studio, one-, two-, three- and four-bedroom apartments

blockchain

South Korean blockchain firm Neoply to establish global headquarters in Abu Dhabi

Its global headquarters in Abu Dhabi Global Market will be called H-Lab

EWEC secures four bids for 1,500MW Al Ajban solar project

UAE’s EWEC secures four bids for 1,500MW Al Ajban solar park

The solar farm will generate enough electricity to power approximately 160,000 homes across the UAE

ADGM issues hotel and tourism regualtions 2023 Image courtesy ADGM

Abu Dhabi Global Market issues hotel and tourism regulations

The regulations adopt some Abu Dhabi onshore tourism legislation to provide a better regulatory framework for hotels and tourism companies in ADGM

Emirates Group launches innovation majlis Image Emirates Group

Emirates Group unveils new Innovation Majlis

The majlis will showcase the latest in robotics, hyper-reality, holograms, 3D printers and other advanced technologies