UAE, Egypt and Jordan sign $10bn industrial power pact Abu Dhabi's ADQ to allocate $10 billion in investment for projects. Focus includes agriculture, pharmaceuticals, petrochemicals and textiles May 30, 2022
Economy Menap countries must work together to close GDP shortfall Economic cooperation in the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) is a strategic must for continued regional prosperity and socio-economic development, says a new report. The introduction of bloc-wide common standards and free flow of capital, goods and services could help unlock up to US$230 billion in GDP, according to research from UAE […] May 26, 2022
Tech Kobo announces Arabic language e-reader at book fair Rakuten Kobo, the world’s second largest e-reader brand after Amazon, is to adopt Arabic as a primary browsing language for users later this year, said CEO Michael Tamblyn at the Abu Dhabi International Book Fair this week. Canada-based Rakuten Kobo, which hosts some seven million titles in 76 languages, operates its delivery of e-books to […] May 24, 2022
Energy Saudi Arabia signals support for Russia in Opec+ Brent crude trading at about $112 a barrel Saudi blames prices on lack of global refining capacity and taxes New production deal for Opec+ quotas due in three months Saudi Arabia has signalled it will stand by Russia as a member of the Opec+ group of oil producers despite tightening western sanctions on Moscow and […] May 23, 2022
How I got to the top Ayham Gorani, co-founder and CEO, Pemo What does your company do?Pemo empowers businesses across the Middle East, North Africa and Pakistan by offering them a fast, transparent, and simplified way to manage their company spend. We’ve built a platform that addresses the day-to-day spend management challenges faced by small and medium-sized enterprises (SMEs) in the region. Our offering includes smart corporate […] May 23, 2022
Energy US private equity group buys UK power plant giant for £1.75bn ContourGlobal, the UK power plant owner, has agreed to be taken over by KKR, the New York-based private equity giant, for £1.75 billion after an underwhelming four-and-a-half-year stint on the public markets. The FTSE 250 company said its board intended to recommend the “fair and reasonable” all-cash acquisition at 263.6p a share, a 36 percent […] May 18, 2022
Analysis Sustainability Oman: the next hydrogen energy superpower With lengthy daytime sun, strong overnight winds and an accessible coastline, H2 investors and developers have long admired Oman, dubbed a “future renewable superpower,” by green energy titans. The government has noticed their admiration, and is looking to hydrogen to help power the oil-rich country’s energy grid and recharge its fossil fuel-reliant economy. Since announcing […] May 17, 2022
Sheikh Khalifa Remembered Sheikh Khalifa, ‘master statesman’ who put UAE on the map Analysts pay tribute to the visionary leader who transformed his region “The UAE is almost unrecognisable from 20 years ago and has developed into a vibrant and dynamic place where individuals and businesses can flourish,” according to Scott Livermore, chief economist at research group Oxford Economics Middle East. That is the legacy of Sheikh Khalifa […] May 16, 2022
How I got to the top: Mona Jaber, founder of Maison Tini and Jayleen Finds What does your company do? Jayleen Finds is the first company dedicated to sustainable kids furniture in the UAE. I also recently launched Maison Tini, which is an experiential kids concept store in Al Quoz, Dubai, housing 50 local small businesses, offering furniture, décor, clothing, shoes, books, toys, artwork and more. At Maison Tini, kids […] May 16, 2022
Sheikh Khalifa Remembered In pictures: Sheikh Khalifa laid to rest in Abu Dhabi Sheikh Khalifa bin Zayed was laid to rest Friday evening following his passing, aged 73. Sheikh Mohamed bin Zayed al-Nahyan, who was elected president of Abu Dhabi by a federal supreme council yesterday, led senior leaders in prayer. The funeral took place at Al Bateen cemetery. Sheikh Khalifa’s body was carried to its final resting […] May 15, 2022
People & Lifestyle Messages of sympathy pour in from around the globe Leaders from the Gulf, the wider Middle East and around the world have offered their heartfelt condolences after the death of Sheikh Khalifa bin Zayed Al Nahyan, the President of the United Arab Emirates and ruler of Abu Dhabi. Here are some of the messages of sympathy The UN offices in the UAE said: “In this […] May 13, 2022
People & Lifestyle 1948-2022: Sheikh Khalifa bin Zayed Al Nahyan’s timeline September 7 1948: Sheikh Khalifa was born in the inland oasis-city of Al Ain. 1966: He was appointed Ruler’s Representative in the Eastern Region of Abu Dhabi and Head of the Courts Department in Al Ain. 1969: Sheikh Khalifa was nominated Crown Prince of Abu Dhabi and appointed Head of the Abu Dhabi Department of […] May 13, 2022
People & Lifestyle A lifetime of service by the President of the UAE Sheikh Khalifa bin Zayed Al Nahyan, ruler of Abu Dhabi, was elected President of the United Arab Emirates in November 2004, to succeed his father, the late Sheikh Zayed bin Sultan Al Nahyan, UAE President from 1971 to 2004. Sheikh Khalifa presided over a major restructuring of both the Federal Government and the government of […] May 13, 2022
Sheikh Khalifa Remembered Sheikh Khalifa bin Zayed has passed away Sheikh Khalifa bin Zayed Al Nahyan, the second President of the United Arab Emirates and 16th ruler of Abu Dhabi, died today aged 73. In a statement published by Wam, The Ministry of Presidential Affairs expressed its deepest condolences to the people of the UAE, Arab and Islamic nations and the world. The Ministry of Presidential […] May 13, 2022
Banking & Finance First dirham-denominated bond listed on Nasdaq Dubai The UAE’s first dirham-denominated treasury bond was listed on Nasdaq Dubai yesterday. Mohamed Hadi Al Hussaini, minister of state for financial affairs, today rang Nasdaq Dubai’s market-opening bell to celebrate the listing and circulation of AED1.5 billion as the first Dirham-denominated treasury bonds issued by the UAE Federal Government acting through the Ministry of Finance. […] May 13, 2022
Insight Food & Drink Ukraine war drives Gulf to double down on food security As the war in Ukraine has pushed up food prices and disrupted supply chains, hard-hit Mena countries explore ways to protect themselves In Abu Dhabi clusters of fresh tomatoes are growing inside rows of climate-controlled greenhouses in the middle of the desert – just one example of the lengths the arid region must go to […] May 12, 2022
Tourism Saudi reveals post-Covid entry policy in tourism push Government white paper proposes simplifying health-related entry protocols for travellers to the kingdom Saudi Arabia is working to introduce a shared framework by which countries can share information on local and global health crises to prevent disruption in air travel to and from the kingdom. The proposed policy, called Harmonising Air Travel and set out […] May 11, 2022
Aviation Air travellers ‘still risk Covid infection,’ study warns Passengers are still at risk of coronavirus infection while travelling on aeroplanes and in airports, researchers have warned. A study in the Journal of Travel Medicine reported that two Covid-positive passengers infected 15 other people during a 10-hour flight from Dubai to Australia in July 2020 – despite mandatory face masks for passengers, the use […] May 10, 2022
Abu Dhabi sees £2.5bn of property deals in Q1 The volume of real estate transactions in the UAE capital reached AED11.3 billion (£2.5 billion) across 3,304 deals in the first quarter of 2022, official figures reveal. Yas Island, the Abu Dhabi neighbourhood that houses the Formula 1 racing track and several other leisure and entertainment destinations alongside upmarket residential complexes, recorded the largest amount […] May 9, 2022
Real Estate The new boom: 5 trends shaping Gulf property markets Demand for real estate in the GCC region is outpacing supply, keeping prices high and contributing to record transaction levels in the property hotspot of Dubai. AGBI looks at the key factors influencing the markets this year. May 9, 2022
Analysis Economy Lebanese elections spark fears of more instability The Lebanese government recently ordered the demolition of the blast-hit grain silos that were decimated during the August 4, 2020 port explosion. The silos absorbed much of the blast’s impact, saving sections of the city’s western residential areas from total devastation. The government has now determined that they must be removed amid reports that the tilting […] May 9, 2022
Insight Markets DEWA IPO bodes well for Dubai’s asset sale A further nine government and state-owned companies are now set to be listed on the DFM Optimism is growing over government plans to monetise state assets following the hugely successful Dubai Electricity & Water Authority (DEWA) initial public offering (IPO). DEWA debuted on the Dubai Financial Market (DFM) on April 12 in the UAE’s largest […] May 9, 2022
