Olam Group postpones IPO of Olam Agri

Olam Group delays listing agri unit on Saudi Exchange

The company will continue to pursue the IPO of Olam Agri at the next practical window without providing any approximate time frame

SRC CEO Fabrice Susini image credit SRC twitter

PIF’s Saudi Real Estate Refinance Company completes latest sukuk issuance of SAR3.5bn

This is the sixth tranche under SRC’s upsized SAR20bn sukuk programme

saudi astronauts

Saudi astronauts depart space station, to splashdown in Atlantic Ocean

The Saudi Space Commission announced the successful separation of the SpaceX spacecraft carrying the two Saudi astronauts from the ISS

U-Ask

UAE launches AI-powered chatbot ‘U-Ask’ for streamlined government services

Users can retrieve essential details regarding service requirements, tailored information based on their preferences

First Mills IPO on Saudi Exchange

Saudi First Mills’ $266.4m IPO attracts bids worth $18bn

The milling company said big investors placed orders worth SAR68.8bn, almost 69 times more than was available to them

drone delivery

Dubai hospital delivers medicines to patient’s house via drone: Watch here

The delivery took place within a 10-kilometre radius, transporting medication from the hospital to a patient’s home in Cedre Villas project

electric car

Global electric vehicle transformation project launched for the UAE

The launch of the Global EV Market is in line with the country’s objective to transition to net zero and set itself up as a global electric vehicle hub

UAE corporate tax

Countdown to UAE Unemployment Insurance scheme: June 30 deadline nears

The grace period to register for the government-mandated unemployment insurance scheme runs out in a month

Tabreed forays into India

UAE’s Tabreed invests Dhs44m in TATA Realty’s Intellion Park

The Dubai-listed firm will acquire the existing cooling infrastructure at the Intellion Park development, which covers a total area of 3.5 million square feet

Air Baltic, the flag carrier of Latvia (Image: Sourced from Press Gallery on Air Baltic website)

Air Baltic opens bookings for Dubai-Vilnius flights

From November 1, the airline will operate twice weekly services between the two destinations as part of its winter schedule

F1 Team Stake

Alfa Romeo F1 Team Stake launches partnership with Aioka

As part of the new partnership, Aioka will enhance the team’s offer to guests, as well as to corporate groups and individuals

food security through IFPA

The UAE is the new headquarter of International Islamic Food Processors Association

IFPA works to promote intra-OIC trade and investment between agri-food private-sector businesses across the entire ecosystem and food supply chain in member states

trade finance

DP World, Standard Bank partner to expand trade finance in Africa

The partnership will help in closing the gap in unmet demand for working capital on the continent

Dubai taxi sector image RTA twitter

Dubai taxi sector achieves 27 million trips in Q1 2023

The taxi sector in Dubai showed 6 per cent growth during the first quarter of 2023

S&P Global affirms positive outlook on Bahrain

S&P Global affirms rating, positive outlook on Bahrain

The country’s fiscal and debt positions strengthened in 2022 on the back of higher oil prices and budget consolidation measures

Arabsat BADR-8 launch Image credit Arabsat

Arabsat launches Badr-8 satellite, in partnership with Airbus and SpaceX

The 7th generation satellite successfully lifted off from launch complex 40 at Cape Canaveral air force station

Dubai DET announces that Holiday Homes to have qr codes going forward image credit Dubai Media Office

Holiday homes in Dubai now need QR codes on entrances, here’s why

This code enables visitors and guests to conveniently scan it and access essential information about the operator of the holiday home and the relevant contact details for the Department of Economy and Tourism

Saudi SEZs

New Saudi SEZs attract $12.6bn from maritime, mining, manufacturing, logistics sectors

The Saudi SEZs offer competitive corporate tax rates, exemption from customs duties on imports, production inputs, machinery and raw materials, and 100 per cent foreign ownership of companies

space mission

UAE announces space mission: MBR Explorer to tour asteroid belt

Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai announced the follow up space mission scheduled to launch in 2028

television

Demand for luxury TVs surging in the GCC, says Samsung

Nikola Aksentijevic, head of Visual Display Division at Samsung Gulf Electronics, asserts that the increasing income levels and purchasing power of consumers in the region are fuelling the demand for premium products

DEWA commissions new reservoir (1)

DEWA commissions 60 MIG Lusaily water reservoir

The utility firm is currently working on three other reservoir projects in Nakhali, Hassyan and Hatta in addition to the newly commissioned reservoir

Turkish lira

Turkish lira falls to record low against US greenback

Wall Street sees more weakness ahead for the lira, with Morgan Stanley warning that it may reach 26 per dollar sooner than earlier expected and slide toward to 28 by the end of the year

Kemi Badenoch in UAE for trade talks

UK trade secretary Kemi Badenoch rounds off Gulf trip with visit to the UAE

The British trade secretary’s visit to the UAE focused on growing bilateral economic relations and creating momentum for a UK-GCC trade deal

Dubai exchange launches futures contracts

Dubai bourse launches futures contracts on general index

The futures contracts will help investors effectively hedge against market volatility and make profitable trades

Armin Moradi - Co-Founder & CEO at Qashio on importance of accounting automation for corporate tax Image credit Qashio

The importance on accounting automation in UAE’s corporate tax era

Businesses must assess their finance technology stack to check if the tools can effectively manage the new processes required and if the systems in place integrate efficiently to allow for seamless automation

Nothing Ear 2

How Nothing Ear 2 is disrupting the way we use earbuds

With a focus on providing an immersive listening experience, the earbuds not only deliver great audio quality but also demonstrate the brand’s meticulous attention to engineering

Jassem Busaibe - Chief Executive Officer at Aldar Investment Image Aldar Properties

Aldar acquires Basatin, expands facility management, landscaping services offering

Through this transaction, which is valued at Dhs150m, Aldar will hold a majority stake of 75 per cent in Basatin with the remaining 25 per cent held by a strategic partner

Saudi Arabia’s foreign reserves fell from SAR1.57tn the previous month

Saudi Arabia’s net reserves fall to $410bn, lowest since 2010

The central bank said the net foreign assets dropped to SAR1.54tn in April from SAR1.57tn the previous month

Turkey's president Recep Tayyep Erdogan

Recep Tayyip Erdogan seals victory in Turkey presidential elections

The incumbent prevailed 52.1 per cent to 47.9 per cent in a runoff vote with opposition challenger Kemal Kilicdaroglu

Qatar Airways’ Privilege Club (Image: Sourced from Qatar Airways Newsroom)

Qatar Airways’ Privilege Club can now be linked to select Visa and Mastercard credit cards

It will allow the airline’s loyalty programme members to collect and spend Avios on purchases at a range of partners in Qatar