Mubadala co-leads funding round.

Abu Dhabi’s Mubadala co-leads Hasten Biopharma’s $315m funding round

The firm plans to use the proceeds to fund acquisitions and business development of innovative assets in the pipeline

VADR Media

VADR Media acquires Szuperchess for Checkmate.live platform

The acquisition comes in tandem with Checkmate.live’s recent partnership with Tencent Cloud, paving the way for a new era of fair play in the online gaming world

Dubai Islamic Bank branch

Dubai Islamic Bank posts 12% surge in quarterly profit on higher revenue

The bank’s balance sheet expanded by 1.3 per cent YTD to Dhs292bn while customer deposits settled at Dhs198bn

UAE Dr. Thani bin Ahmed Al Zeyoudi.

UAE, South Africa seek to boost trade ties in energy, tourism

The country is the UAE’s second-largest trading partner in Africa, accounting for 8 per cent of total non-oil trade with the continent

Dubai real estate

Here’s how much Dubai’s real estate sector recorded in Q1 2023

The sector maintained its high growth momentum recording 38,700 transactions

Abu Dhabi parking free

Free public parking in Abu Dhabi for Eid Al Fitr holiday

The transport authority urged drivers to avoid parking in prohibited areas and blocking traffic movement

Bitcoin

Bitcoin drops about 4%, slips below $30,000 amid crypto selloff

The largest token fell as much as 4.5 per cent on Wednesday

M42 acquires Diaverum

M42 acquires Bridgepoint’s dialysis firm Diaverum

The acquisition will significantly expand its global footprint, enabling the company to deliver relevant healthcare services and healthtech solutions

Emaar Properties dividendsEmaar Properties dividends

Emaar Properties approves dividends equal to 25% of share capital

The property developer plans to continue making healthy investments in its workforce while attracting top global talent to foster more inclusive growth

Meta

Meta prepares more layoffs across Facebook, WhatsApp, Instagram

The move is part of a cost-cutting push that will eventually whittle away 10,000 positions at the company

Empower modernise JBR plant

Empower to invest $27.8m to upgrade JBR cooling plant

The upgrade will contribute to achieving savings in energy, increasing efficiency and significantly reducing carbon emissions

Eid Al Fitr

Meals to make Eid Al Fitr truly festive

Treat your loved ones to unique gourmet experiences this Eid

Emirates

Dubai’s Emirates adds 38 additional flights to 6 cities ahead of Eid Al Fitr

This year, more than 110,000 travellers are expected to board Emirates flights during Eid across the region

Bybit

Crypto exchange Bybit opens global headquarters in Dubai

The company also revealed future plans to elevate its global presence with a stronger foothold in the region

Token

Bitcoin stalls near $30,000 after the token’s biggest drop in over a month

The digital currency has jumped 78 per cent this year

IHG Hotels and Resorts announces the lunch of Holiday Inn Express brand in Saudi Arabia (Image: Supplied by IHG Hotels and Resorts)

Holiday Inn Express to open first Saudi property in Riyadh

The 200-key new-build property will open in the capital’s Olaya district in 2026

Elon Musk

Elon Musk wants to build own ChatGPT AI

The Tesla chief and owner of Twitter confirmed he intends to get involved in the AI race sparked by OpenAI’s intelligent chatbot

TAQA power generation

Abu Dhabi’s TAQA sells $1.5bn in dual-tranche bonds

Proceeds from the five-year tranche will be used for general corporate purposes while the 10-year green bond will be used to finance projects as set out in the framework

ADCB Group Q1 2023 results

ADCB’s Q1 2023 profit surges to $509m on higher net interest

The bank’s net interest income rose by 33 per cent to Dhs2.85bn while non-interest income surged by 34 per cent to reach Dhs1.06bn

Mubadala and G42 launch of M42

Abu Dhabi’s Mubadala, G42 launch tech-enabled healthcare firm

The merged entity is expected to transform the way care is delivered while bridging the gap between the latest healthtech advancements and the clinical outcomes patients receive

Crypto

Insights: Crypto silver linings to build up in 2023

Focusing on engaging with regulators and policymakers to ensure secure and sustainable growth of the crypto ecosystem is key

SF Airlines

Etihad Cargo, SF Airlines to connect hubs and expand network

Etihad Cargo will operate the flights on a Boeing 777 freighter, with services commencing on April 28

Mubadala to invest in Brazil

Mubadala commits to invest $2.5bn in clean fuel in Brazil

The investment will be made through the company’s Acelen unit in Brazil and the company expects to start production in the first quarter of 2026

Signing of the upcoming DoubleTree by Hilton Jeddah Al Andalus Mall (Image: Supplied by Hilton)

DoubleTree by Hilton announced for Jeddah

Hilton currently operates 16 hotels in Saudi Arabia and has another 51 under development

Commission for AlUla

Saudi’s Royal Commission for AlUla to restore old mud-brick buildings into high-end hotel

Dar Tantora by The House Hotel, a Kerten Hospitality brand, will open with 30 guest rooms

Dubai and Cruise Chevy Bolt

Dubai issues law regulating autonomous vehicles

The city aims to deploy 4,000 autonomous vehicles by 2030 and the rollout is expected to alleviate traffic congestion and cut harmful emissions

digital economy

From an idea to impact: Igniting innovation to thrive in today’s digital economy

What businesses must do to cultivate an innovative mindset as we move into the digital economy

Saudi Arabia tranfer Aramco stake

Saudi Arabia transfers 4% Aramco stake to PIF

The state remains the largest shareholder in Aramco after the transfer, as it retains more than 90 per cent of the company’s shares

carbon

Insights: AI is booming – so is its carbon footprint

AI uses more energy than other forms of computing, and training a single model can gobble up more electricity than 100 US homes use in an entire year

Content

Here’s how the metaverse is empowering content creators

The metaverse isn’t just a new way of socialising and creating content