Aviation Etihad passengers up 17% as fleet and route networks grow Passenger numbers on Abu Dhabi’s Etihad Airways rose 17 percent year on year in the first five months of 2025 as the Emirati carrier increased its fleet and route network. The total number of Etihad passengers carried from January to May reached 8.4 million, according to a statement. The average passenger load factor increased to […] June 13, 2025
Analysis Telecoms Analysts opt for small Gulf telcos despite profits at majors The Gulf’s major former telecom monopolies reported steady first-quarter profit growth and have proved a safe haven for equity investors during market volatility this year. However, it is their smaller domestic rivals that analysts prefer. Saudi Telecom Co (STC), the UAE’s e& (formerly and more commonly known as Etisalat), Qatar’s Ooredoo and Kuwait’s Zain are […] June 13, 2025
Transport Passengers face delays as Etihad Rail tender extended Passengers awaiting the UAE’s high-speed rail link between Abu Dhabi and Dubai may face delays after the submission deadline for key construction tenders was pushed back. Etihad Rail, the state-owned developer behind the project, originally set an early May deadline for bids covering civil works and station design for the passenger line. That date has […] June 12, 2025
Finance Abu Dhabi expects more rapid growth for its financial centre The rush of financial firms setting up in Abu Dhabi to tap the emirate’s wealth funds and Middle East markets will continue at pace, the official in charge of expanding its financial hub has predicted. Abu Dhabi, which holds 90 percent of the UAE’s oil reserves, has accelerated efforts to diversify its economy, leaning on […] June 11, 2025
Trade India’s Jindal SAW to invest in Abu Dhabi facility Jindal SAW, a manufacturer of steel pipes for the energy, transportation and water sectors, will invest $118 million to expand its operations in the Middle East and North Africa (Mena). The company will establish a facility in Abu Dhabi for $105 million, with an annual production capacity of 300,000 tonnes of seamless pipe, the company […] June 11, 2025
Health Secret records found of alleged NMC fraud, court told Administrators for Abu Dhabi-based NMC Health found internal “cheat sheets” showing the true condition of the company’s finances and detailing “significant payments” to people including founder BR Shetty, a UK court has heard. NMC collapsed in 2020 with debts exceeding £3 billion ($4.1 billion). Administrator Alvarez & Marsal is suing big four accountancy firm EY […] June 10, 2025
Aviation Etihad rules out investments in Indian airlines Abu Dhabi’s Etihad Airways has no plans to invest in Indian airlines, CEO Antonoaldo Neves confirmed in an interview this week. “The answer is a clear no,” he told Economic Times, an Indian financial daily. Under its former CEO James Hogan, Etihad acquired stakes in several global airlines. In 2023 it purchased a 24 percent stake in […] June 10, 2025
Analysis Manufacturing UAE-US gallium project is an attempt to loosen China’s grip A new UAE-US effort to produce gallium, a chemical element that is critical to making semiconductors, may bring some relief to Western and Asian users choked by China’s stranglehold on the metal. But relevant manufacturing plants need years to come to fruition, and require technology and know-how that for the moment are almost entirely confined […] June 10, 2025
Artificial Intelligence GlobalFoundries commits $3bn to microchip research GlobalFoundries, the Mubadala-backed chip manufacturer, said on Wednesday it will significantly hike research spending in the US over the next few years due to “explosive” demand for artificial intelligence and the advanced semiconductors that power it. The multi-billion-dollar investment comes as the New York state-based company works with the White House and various technology peers to […] June 5, 2025
Banking and Finance FAB joins banks to lend $750m to India’s Adani unit Adani Airports Holdings, the largest private airport operator in India, has raised $750 million from banks including the UAE’s First Abu Dhabi Bank (FAB). The other banks involved are Barclays and Standard Chartered, the Bombay Stock Exchange-listed company said in a statement on Wednesday. Adani Airports Holdings (AAHL) is a subsidiary of India’s Adani Enterprises, […] June 5, 2025
Economy United Arab Emirates economy The latest economic indicators and demographic trends for the United Arab Emirates, including the UAE's GDP, inflation, oil prices, trade, population, expats, unemployment and more June 4, 2025
Petrochemicals Borouge prepares for era of ‘transformative’ growth UAE petrochemicals company Borouge is focusing on international expansion and long-term value creation as it gears up to become a next-generation global powerhouse. Borouge reported first-quarter net profit of $281 million and record production of 5.2 million tonnes at the end of April, driven by exceptional utilisation rates of 110 percent for polyethylene and 98 […] June 4, 2025 In association with
Energy XRG’s new strategy targets global energy investments XRG, the low-carbon energy and chemicals investment arm of Abu Dhabi National Oil Company (Adnoc), has launched a five-year business strategy aimed at transforming it into a global energy investor. The company is valued at around $80 billion. It is aiming to be one of the top five global gas and liquefied natural gas (LNG) businesses, […] June 4, 2025
Real Estate Aldar says Fahid Island development will cost $11bn Aldar Properties, the largest Abu Dhabi-listed developer by market capitalisation, will build more than 6,000 luxury residences on Fahid Island, one of its largest mixed-use masterplans in the emirate. The gross development value of the project is estimated at more than AED40 billion ($10.89 billion), the developer said in a statement. The company announced […] June 3, 2025
Exclusive Energy Masdar to increase bond issuances to fund renewables push Masdar, the UAE’s state-owned clean energy developer, is to increase its presence in international debt markets as it accelerates plans to install 100 gigawatts of renewable energy capacity by the end of the decade. Abu Dhabi’s Masdar raised $1 billion in a green bond sale last month, following previous issuances of $750 million in 2023 […] June 3, 2025
Oil & Gas Adnoc Drilling expands in Oman with SLB stake Adnoc Drilling, a subsidiary of Abu Dhabi state-backed oil major Adnoc, has bought a 70 percent share in SLB’s oil drilling business in Oman. The agreement includes six fully operational land rigs in Oman and two in Kuwait, the company said. The Emirati company will pay $91 million for the stake, with another $21 million payout […] June 2, 2025
EXCLUSIVE Real Estate Asif Aziz: from the heart of London to Al Maryah Island Asif Aziz owns more of Leicester Square and Piccadilly Circus than any other individual. His holdings include the Criterion Building, a West End landmark best known as the setting where Dr Watson first hears the name Sherlock Holmes; the former Trocadero, which housed music halls and cinemas from the 1890s; and One Leicester Square, overlooking […] June 2, 2025
Finance Mubadala’s $1bn sukuk order book oversubscribed five times Abu Dhabi sovereign wealth fund Mubadala has sold $1 billion in 10-year US dollar-denominated Islamic bonds, or sukuk, in its first debt sale of the year, news service IFR said on Wednesday. Acting through the Mamoura Diversified Global Holding debt vehicle, Mubadala priced the bonds at 60 basis points (bps) over US treasuries, narrower than […] May 29, 2025
Analysis Transport Etihad Rail’s super-fast service tracked by investors The UAE’s Etihad Rail is due to start passenger services next year, promising to slash travel time between Dubai and Abu Dhabi by as much as 40 percent. Not only could this reshape the daily commute but it could also shift the investment outlook for a clutch of transport-focused companies listed on local bourses. With […] May 28, 2025
Opinion Business of Sport Gulf states get serious with sports spending The likes of Saudi Arabia, Qatar and Abu Dhabi are fast becoming more strategic about their commitments May 27, 2025
Utilities Abu Dhabi’s Taqa focuses on US market Abu Dhabi National Energy Company, or Taqa, is exploring buying companies in the US and elsewhere, its chief executive told Reuters. The state-owned utility is continuing its international expansion and is striving to reach ambitious growth targets. “The US is a key market for us,” and “if the right opportunity presents itself for Taqa, we […] May 27, 2025
Industry UK’s Wood wins contract for UAE’s first methanol facility UK-based engineering company Wood Group has been awarded a project management consultancy contract for the UAE’s first methanol production facility, the British company said in a statement. The contract was awarded by Ta’ziz, a joint venture between Abu Dhabi National Oil Company (Adnoc) and state-owned Abu Dhabi Developmental Holding Company (ADQ). Construction of the plant, in […] May 27, 2025
