Red Sea Coastline. Image Credit: redseaglobal.com

Red Sea joins Virtuoso’s portfolio as a travel partner

The destination hopes to be the gold standard for regenerative and sustainable tourism when it opens its doors to travellers later in 2023

Flynas A320 neo aircraft (Image: Supplied by flynas)

Flynas passenger numbers climb to 2.4 million in Q1 2023

The number of flights it operated in Q1 2023 stood at 17,000, a 13 per cent increase year-on-year

OpenAI

OpenAI raises $175m for startup investment fund

The platform has been investing in startups working in artificial intelligence for a while

ASUS Zenbook S 13 OLED

Redefining Mobility: Introducing the astonishingly lightweight ASUS Zenbook S 13 OLED

Unmatched portability at 1cm thin and 1kg light

Abu-Dhabi-Housing-Authority-has-announced-new-housing-projects-in-West-Baniyas-and-Al-Samha-regions-photo-Abu-Dhabi Housing Authority-

Abu Dhabi launches housing projects worth over Dhs7bn

The new housing projects, which are located in West Baniyas and Al Samha, include 1,742 residential villas for citizens

France implements short-haul flight ban. Image credit: Groupe ADP

France short-haul flight ban comes into effect: What it means for travellers

Domestic flight journeys that can be completed by train in less than two-and-a-half hours banned by French Transport Ministry

ADNOC Drilling acquires 6 rigs

ADNOC Drilling signs $75m deal for six newbuild hybrid power land rigs

The rigs are being built by Honghua Golden Coast and will progressively enter the fleet from the second quarter of 2024

Jeddah Islamic Port is Saudi Arabia’s busiest port

Jeddah Islamic Port’s April container volume surges by 25%

The port’s cargo column saw an addition of 19.33 per cent to the 2022 volume to achieve about 5,261,883 tons

Khalifa Fund launches Franchise UAE image credit KFED

Franchise UAE: Khalifa Fund launches new portal to help businesses buy and sell franchises

Franchise UAE is designed to cater to both existing, homegrown businesses seeking to develop a franchise and aspiring entrepreneurs looking to invest in an established business concept

Uber India

Uber to add 25,000 electric vehicles in India in green push

The ride-hailing company will launch EV Uber Green in June in Mumbai, Bengaluru and Delhi

FAB supply chain finance in KSA

UAE’s FAB launches supply chain finance in Saudi Arabia

The programme allows companies to monetise their receivables at competitive rates and get instant payments, without needing to borrow funds

AD Ports Group, Vale to jointly develop low-carbon mega hub for steel industry photo WAM AD Ports

AD Ports Group, Vale to develop low-carbon mega hub for steel industry

Land and related services from KEZAD will be allocated for the ‘Mega Hub’, in addition to the development and management of a high-tech handling facility at Khalifa Port

RTA to auction special number plates. Image credit: RTA

RTA to auction premium car number plates soon: Check dates

The RTA will auction 350 number plates comprised of two-digit plates for vintage cars, and three, four and five-digit plates for private vehicles

The First Group

The First Group expands business with launch of hotel management division

The launch of the new operation coincides with The First Group being appointed to manage the Zoya Health and Wellbeing resort in Al Zorah, Ajman

Construction uae saudi arabia

Construction boom: UAE, Saudi Arabia expect surge in project numbers and values, says report

Majority of construction decision makers in the two countries are confident about the market conditions over the next 12 months

EFG Hermes group CEO Karim Awad Image courtesy EFG Hermes Holding

EFG Hermes reports 157% rise in net profit to EGP885m in Q1 2023

The group recorded a 129 per cent year-on-year rise in revenue to EGP4.5bn in Q1 2023

Broadcom

Apple signs multibillion-dollar deal with Broadcom for 5G components

The components will be designed and built in several US manufacturing hubs including Fort Collins, Colorado, where Broadcom has a major facility

ADNOC Group Onshore Drilling Rig

ADNOC, TAQA invest $2.4bn to supply sustainable water to onshore operations

The project will develop a centralised seawater treatment facility for operations at the Bab and Bu Hasa fields in Abu Dhabi

Meta

Meta unloads Giphy to Shutterstock at a loss of more than $260m

Facebook’s parent company Meta announced the sale of Giphy after its purchase of the GIF maker was blocked by competition regulators in the UK

UK Business and Trade Secretary Kemi Badenoch

UK Business and Trade Secretary Kemi Badenoch on Gulf states tour

Badenoch’s trip comes as the total trade between the UK and GCC reached a record high of GBP61.3bn in 2022

UAE Minister of State for foreign trade Dr Thani bin Ahmed Al Zeyoudi

UAE, Malaysia agree to launch CEPA negotiations

The UAE has so far concluded four CEPAs with India, Israel, Indonesia and Turkey and the first two have already come into force

Etihad Rail and Uber sign MoU photo credit Uber

Etihad Rail, Uber sign MoU to jointly bolster integrated mobility services

The companies will look at integrating e-hailing services and explore the possibility of creating an Uber dedicated pickup and drop-off area for passengers within stations

Healthcare facilities

Abu Dhabi temporarily closes two healthcare facilities over several violations

The violations include failure to adhere to safety procedures, use of expired materials and tools, and non-compliance with the standards for medical waste disposal

Google Cloud

New Google Cloud region in Doha to fuel economic growth and job creation in Qatar

The region is set to contribute a cumulative $18.9bn to economic activity in Qatar between 2023 and 2030 and support creation of more than 25,000 jobs in 2030 alone

Investment Authority Qatar

Builder.ai announces $250m Series D led by Qatar Investment Authority

The funding round included participation from existing and new investors including Iconiq Capital, Jungle Ventures & Insight Partners

Saudia

AI takes flight: Saudia, Accenture collaborate to develop over 260 new digital services

All the digital systems developed by Accenture will be designed specifically for the airline, increasing operational efficiency and reducing costs

Samara

Air Arabia launches new route to Samara in Russia

The airline will operate three flights weekly, starting from October 1, 2023

ADFD investments in 2022 Photo GettyImages-1430804172

Abu Dhabi development fund sees financing, investments cross Dhs189.7bn in 2022

According to its annual report, Abu Dhabi Fund for Development’s investments benefitted 104 nations last year

Cold storage in Meta data center. Image Credit: META

Meta fined record $1.3bn in EU over US data transfers

The Meta fine coincides with the fifth anniversary of the EU’s General Data Protection Regulation, widely seen as the world’s benchmark for privacy

insurance company

CBUAE removes board of directors of insurance company

It is replaced it with a temporary committee of experts for six months