Manufacturing UAE’s $11bn manufacturing investment aims to cut oil reliance The UAE plans investment of more than AED40 billion ($11 billion) over the next five years to establish itself as a centre for advanced manufacturing. The strategy aims to expand its industrial base, accelerating efforts to diversify its economy away from oil. Highlighting progress so far, Dr. Sultan Al Jaber, federal minister of industry and […] May 20, 2025
Health Mubadala Bio launches to bolster UAE drug security Mubadala Investment Company, Abu Dhabi’s $330 billion sovereign wealth fund, has launched a dedicated life sciences unit as part of a broader strategy to boost domestic pharmaceutical production, improve healthcare resilience and support the UAE’s economic diversification efforts. The new entity, Mubadala Bio, will oversee a portfolio of 10 manufacturing facilities across Asia, Africa, and […] May 20, 2025
Analysis Aviation Flydubai CEO says demand exists to quadruple India flights Flydubai believes it has the capacity to quadruple its flights to India, saying the demand is there. However, Delhi’s protectionist aviation policies remain a stumbling block to the Gulf’s biggest low-cost carrier by fleet size, as well as other UAE airlines. Flydubai currently operates 30 flights a week from Dubai to eight Indian cities. “India […] May 16, 2025
Tech US and UAE agree tech plan as Trump lands in Abu Dhabi US and Emirati officials agreed a framework to enhance exchanges in advanced technology as Donald Trump arrived in Abu Dhabi on Thursday evening on the third and final leg of his tour of the Gulf. The deal includes commitments from both sides to ensure the shared technology is handled securely, Reuters reported, citing an unnamed […] May 15, 2025
Exclusive Manufacturing Why Emsteel is not worried about rising Chinese imports UAE steel and building material company Emsteel expects demand for its products to grow 10 percent this year, paced by multi-billion-dollar infrastructure projects and real estate developments, its CEO said. That could offset a challenge from surging imports from China and declining world prices. The Abu Dhabi-based company has increased production capacity to meet demand […] May 15, 2025
Analysis Aviation Flynas to test appetite for airline IPOs as Gulf rivals look on Low-cost carrier Flynas is preparing to go public on the Saudi Exchange this month in a deal that is being watched not only by investors but also by Gulf rivals considering their own listings, analysts have told AGBI. Among them is Abu Dhabi’s Etihad Airways, whose long-anticipated initial public offering could be shaped by Flynas’ […] May 14, 2025
Artificial Intelligence Saudi Arabia announces AI unit as Trump lands in Riyadh Saudi Arabia has announced a state-backed artificial intelligence company as President Donald Trump lands in Riyadh. Technology is expected to be high on the agenda during Trump’s tour, which also takes in Qatar and the UAE, as Gulf economies seek improved access to US chips to meet their AI ambitions. The Saudi AI company, called […] May 13, 2025
Analysis Retail Dollar rebound offers little relief to UAE retailers The dollar has jumped in the past 24 hours but it is still trading at around an eight-month low, at least against the euro. For Gulf oil producers, most of whose currencies are pegged to the US currency, the weaker dollar poses a challenge. “The dollar has been part of the collateral damage as investors […] May 13, 2025
Aviation Emirates Group delivers record annual profit Emirates Group, Dubai’s flagship aviation conglomerate, has posted record annual earnings on the back of a surge in international travel, rising cargo volumes and declining fuel costs. The state-owned group, which includes long-haul carrier Emirates airline and global airport services provider Dnata, reported a profit of AED20.5 billion ($5.6 billion) for the financial year ending […] May 8, 2025
Economy Bahrain’s current account surplus shrinks on high debt servicing Bahrain’s current account surplus narrowed last year on the back of lower oil revenue and higher external debt servicing, a ministry of finance report shows. The update may add to concerns around Bahrain’s fiscal challenges. A country’s current account balance is a record of its transactions with the rest of the world. Bahrain, the Gulf’s […] May 6, 2025
Analysis Aviation Kuwait’s aviation industry loses altitude as foreign airlines exit Kuwait’s ambitions for its aviation industry are faltering as a growing number of international carriers quit the market and airport upgrades are delayed. British Airways ceased its daily service from London in March, ending more than 60 years of operations. This follows withdrawals from Kuwait International Airport (KWI) by at least 14 other airlines since 2019, […] May 6, 2025
Business of Sport Abu Dhabi doubles down on global sports investment Manchester City may have lost its grip on the English Premier League title this season, but Abu Dhabi has no intention of relinquishing its power in the sporting sphere. The emirate has unveiled two major deals this month that underscore a strategic push to remain a dominant player in the fast-evolving sports business, even as […] May 6, 2025
Real Estate Dubai Holding to list real estate investment trust Dubai Holding is to list its residential real estate investment trust (REIT), shrugging off local investor scepticism towards the structures and becoming the first initial public offering (IPO) on the Dubai stock exchange this year. The investment conglomerate owned by Sheikh Muhammed bin Rashid Al Maktoum, the emirate’s ruler, said on Monday that it will […] May 5, 2025
Analysis Leisure & Hospitality UAE hotels absorb rising costs at expense of profit Many UAE hoteliers are reluctant to raise prices to compensate for rising operational costs, even as intensifying global competition and geopolitical volatility tighten profit margins. According to data from CBRE Middle East, growth in UAE hotel revenue per available room (RevPAR) has slowed over the last two years, from 6 percent in 2023 to 3 […] May 5, 2025
Real Estate Dubai’s DXB site to become prime real estate opportunity Dubai International Airport will become one of the emirate’s most valuable real estate assets once operations shift to the new Dubai World Central airport within the next decade. The DXB site, located in the densely developed Al Garhoud district and spanning 2,900 hectares (7,200 acres), will eventually cease operations as Dubai consolidates air traffic at […] May 1, 2025
EXCLUSIVE Aviation Expect commercial jet shortages until 2030, warns Flyadeal CEO The head of Saudi low-cost carrier Flyadeal has warned that deliveries of in-demand commercial jets to the aviation industry will be severely constrained until the end of the decade. Flyadeal CEO Steven Greenway told AGBI that despite having eight Airbus A320 aircraft scheduled for delivery in 2025, the airline is planning on receiving only five. […] May 1, 2025
Aviation Sheikh Ahmed: China’s Boeing rejects won’t fly for Emirates Emirates Airline’s chairman Sheikh Ahmed bin Saeed Al Maktoum has downplayed speculation that the carrier could buy Boeing planes originally destined for China. Speaking at the Arabian Travel Market in Dubai on Tuesday, Sheikh Ahmed said Emirates was actively exploring options to expand its fleet, but the Boeing aircraft – ordered by Chinese carriers but […] April 29, 2025
EXCLUSIVE Aviation Boeing delays are hampering Flydubai expansion, says CEO Delays in the delivery of Flydubai’s first wide-body aircraft from Boeing are hampering the carrier’s expansion into long-haul routes and it may seek compensation, its CEO has told AGBI. The low-cost carrier is waiting for 30 Boeing 787-9 twin-aisle planes, part of an $11 billion deal announced at the 2023 Dubai Airshow. The first deliveries […] April 29, 2025
Construction Jeddah’s residential canal project takes shape Construction work on Marafy, a residential canal-waterfront project in Saudi Arabia’s second city, Jeddah, is gathering pace. Driven by Roshn Group, the property developer unit of the government’s Public Investment Fund (PIF), the development will have capacity to house more than 130,000 people. Though no cost for the Marafy project has been made public, in […] April 25, 2025
Aviation China’s Boeing boycott opens doors for Gulf carriers China’s escalating trade standoff with the US is reverberating through the global aviation industry, offering opportunities for Gulf airlines, as Chinese carriers refuse to accept US-built Boeing aircraft. Speaking on a first quarter earnings call on Wednesday, Boeing CEO Kelly Ortberg confirmed that several Chinese customers have declined to accept new aircraft due to retaliatory […] April 25, 2025
Employment UAE labour market: Too many people, not enough jobs More people are looking for jobs in the UAE than there is work available for them, according to a labour market report from recruitment consultancy Cooper Fitch. Hiring in the second-largest Arab economy grew by less than 1.3 percent in the three months to March 31 compared with the same period last year, the report […] April 24, 2025
Construction RAK sets out $272m plan for ‘our version of Central Park’ Ras Al Khaimah is preparing an AED1 billion ($272 million) mixed-use masterplan to link two of its most prominent waterfront developments – Al Hamra and Al Marjan Island. The project is being led by Marjan, the master developer of freehold properties in the northern emirate, and will have its official launch later this year. “What […] April 24, 2025
