PureHealth, Ardent deal

PureHealth closes acquisition of Dhs1.8bn stake in Ardent Health

The completion of the transaction is expected to further strengthen PureHealth’s vision towards becoming a leading global player in healthcare

DXB T3 Dubai International

Dubai’s DXB sees passenger traffic reach 95.6% of 2019 levels in Q1 2023

India remained DXB’s top destination country with passenger traffic reaching three million, followed by Saudi Arabia, the UK and Pakistan

Abu Dhabi 2022 GDP

Abu Dhabi economy grows 9.3% in 2022 on non-oil activities boost

The city’s non-oil sectors witnessed significant growth of Dhs43bn in 2022 and contributed 50 per cent to the overall GDP

DEWA first quater net profit

DEWA’s Q1 2023 net profit up 10.4% to $208m

The utility company’s revenue for the first three months of the year hit Dhs5.44bn, up 7.3 per cent year-on-year

Air Arabia reports Q1 2023 performance

Air Arabia reports net profit of Dhs342m for Q1 2023

Air Arabia added nine new routes to its global network from its seven hubs in the UAE, Morocco, Egypt, Armenia and Pakistan during Q1 2023

Globally, air traffic now 88% of March 2019 levels, says IATA

Middle Eastern airlines have seen a 43.1 per cent increase in traffic compared to March a year ago

service robots

Insights: The rise of service robots

Proven Robotics’ Mohammed Aldousari, regional robotics lead, outlines the transition of robots from industrial applications to service roles that bisect and positively impact day-to-day human life

Hospitality trends: Witty D’silva, Corporate Director of Sales and Marketing, Leva Hotels

Insights: 6 key trends driving growth in the hospitality sector

From hyper-personalisation to OTAs and bleisure travel to budget travel, we look at the developments boosting the hospitality industry

Malaysia

MDEC: $2.8tn ripe for digitalisation in global Islamic economy

Muslims worldwide estimated to spend $2.8tn by 2025 on Islamic faith-inspired consumption needs – and Malaysia looks to capture digitalisation opportunities in the sector through MDEC

Red Sea

Saudi Red Sea developer weighs public offering as soon as 2026

The firm is in early talks with banks and stakeholders, John Pagano, chief executive of Red Sea Global, said in an interview, without disclosing details on advisers, banks or valuation

Hamad International Airport

Qatar’s Hamad International Airport reports 44.5% spike in passenger traffic in Q1 2023

The airport handled over 540,000 tonnes of cargo and moved over eight million bags through its facility, including over five million pieces of transfer baggage

Careem's new visual indentity

Careem launches new visual brand identity

The ‘C’ wink and bold green remain central to the company’s new brand identity, with the notable logo only slightly tweaked

Barakah Nuclear Energy Plant unit 3

UAE’s ENEC inks nuclear energy deals with Chinese firms

The agreement covers cooperation in nuclear energy operations, in high-temperature gas-cooled reactors and fuel supply and investment

Green Corp

Bahrain’s agribusiness platform Green Corp takes a stake in Badia Farms

Established in 2016, Badia Farms’ sustainable farming techniques produce fruits and vegetables without sunlight or soil

ADGM to expand jurisdiction May 2023

ADGM Financial District to expand, making it one among world’s largest financial centres

The UAE Cabinet’s resolution has expanded ADGM’s jurisdiction to Al Reem island in addition to Al Maryah island

Kimpton Riyadh Saudi Arabia signing ceremony (Image: Supplied by IH Hotels and Resorts)

IHG to debut Kimpton brand in Saudi Arabia by 2024

The new-build Kimpton Riyadh will be located within the King Abdullah Financial District

EDB CEO, Ahmed Mohamed Al Naqbi

UAE’s EDB, Ministry of Economy recognise partner banks

The bank’s credit guarantee scheme aims to help SMEs overcome challenges in accessing financing from conventional banks

Saudi Arabia

Saudi Arabia’s economy grew 3.9% in Q1 of 2023

Economic expansion was driven by a 5.8 per cent increase in non-oil activities

Emirates is deploying a fleet of 85 A380s

Emirates expects busy summer as travel demand improves

The airline is planning to debut flights to five new cities including London, Christchurch, Sydney, Melbourne and Auckland

ESG

Technology underpins the success of the GCC’s ESG ambitions

ESG is now a concern for investors, shareholders and other stakeholders, as well as customers and regulators

Saudi Arabia banking sector

How Saudi Arabia’s banking system is building a solid future

Saudi banks stand to remain on a profitable path in 2023 with corporate lending continuing to drive credit growth in the sector

Luxury travel

Insights: The new face of luxury travel

From sustainability to revenge travel, here are the key trends driving luxury tourism

Wellness Tourism

Why wellness tourism is the next big thing?

The wellness tourism industry has become a significant contender in the global tourism market, with a valuation of $815bn in 2022, making up 18 per cent of the total market

Tesla

Tesla raises prices of S, X Models by $2,750 in China

The pricing of Model S sedan and Model X now start at CNY808,900 and CNY898,900, respectively

UAE booming tourism sector

Soaring tourism numbers bolster UAE’s economy

UAE’s tourism sector defies odds to attract record tourist numbers over the past year

Poland

UAE’s flydubai expands network in Poland to three destinations

Flights will operate three times a week from October 29

The resort will soar 305m off the ground. (Image: Supplied by Wynn Resorts)

The Wynn Al Marjan Island resort in the UAE will open by 2027

The 1,500 key property will be located in the emirate of Ras Al Khaimah

Mubadala, ADIB deal

Mubadala offloads 7.6% ADIB stake to National Holding

The state investor said the deal is in line with its strategy to create long-term value by optimising a global portfolio of investments

co-working space

Free co-working space now opens at Jumeirah Beach Residence

Spreading across 10,000 sq ft and with a total capacity of 80 desks, Cypher Hub is specifically designed for Web3 founders and entrepreneurs to collaborate, network and partner

DIFC venture regulation

DIFC enacts new venture studio regulations

The enactment of the new regulations supports the DIFC Launchpad by providing a legislative framework for venture building