Telecoms Turkcell gets Emirates NBD loan to expand data centres Turkey’s mobile operator Turkcell has secured €100 million ($113 million) in sharia-compliant funding from Emirates NBD to accelerate its investment in data centres. TDC Veri Hizmetleri (TDC is a subsidiary of Turkcell, which is listed on both the Borsa İstanbul and the New York Stock Exchange. Turkcell’s strategy focuses on building high-capacity, eco-friendly data centres […] May 21, 2025
Banking and Finance Emirates NBD gets nod to set up Indian subsidiary India’s central bank has given an “in-principle” approval to Emirates NBD Bank, Dubai’s biggest bank by assets, to set up a wholly owned subsidiary in India. The Dubai-listed lender currently offers banking services through branches in Chennai, Gurugram and Mumbai, the Reserve Bank of India (RBI) said in a statement. The approval allows Emirates NBD […] May 20, 2025
Markets Dubai Holding ups REIT offering on high demand Dubai Holding, an investment vehicle of the emirate’s government, has increased the offering size of its residential real estate investment trust (REIT) on the local market following high demand from local and global investors. The offering now stands at 1.95 billion units compared to the earlier 1.63 billion units, increasing the floating to 15 percent […] May 19, 2025
Transport UAE passenger train service to start operations next year Etihad Rail, the UAE’s national rail project, will start its first passenger service next year. The announcement was made during the visit of Sheikh Hamdan bin Zayed Al Nahyan, the ruler’s representative in Al Dhafra Region, the rail operator said in a post on social messaging platform X (formerly Twitter). The passenger rail service will […] May 16, 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
Aviation Emirates in talks with Musk’s SpaceX for in-flight WiFi Emirates airline is reportedly in talks with Elon Musk’s SpaceX to offer in-flight WiFi services. The Dubai carrier aims to offer Starlink service on its widebody fleet, Bloomberg reported, citing unnamed sources. Starlink is a low-orbit satellite network offering high-speed broadband services, particularly in areas with limited internet connectivity. Emirates has 250 aircraft and has placed orders […] May 16, 2025
Markets Dubai Holding seeks up to $500m from REIT listing Dubai Holding aims to raise a maximum of AED1.8 billion ($490 million) from its residential real estate investment trust (REIT) listing. This month the investment conglomerate owned by Sheikh Mohammed bin Rashid Al Maktoum, the emirate’s ruler, announced floating 12.5 percent of its Dubai Residential REIT, or 1.63 billion units, on the Dubai Financial Market (DFM). […] May 13, 2025
Energy Dewa Q1 2025 profit falls despite revenue rise Net profit at the Dubai Electricity and Water Authority (Dewa) fell by about a quarter in the first three months of 2025 despite a rise in revenue. Net profit reached AED497.8 million in the first quarter, a drop of 23 percent year on year, according to Dewa’s consolidated interim financial report. Revenue rose 3 percent year […] May 13, 2025
Analysis Artificial Intelligence Dubai’s hottest new job title: chief AI officer Three years ago, finding a single person in the Middle East and the Gulf with the job title “chief AI officer” was rare, if not unheard of. Today, however, with the help of the world’s biggest technology companies and their complicated artificial intelligence tools, chief AI officers – or CAIOs as they are also known […] May 12, 2025
Retail Ramadan sales support Talabat’s top-line growth Talabat, the Dubai-listed online food ordering and delivery company, said its top line rose more than a quarter in the first three months of this year, supported by growth in the grocery and retail segments during the holy month of Ramadan. Net profit nearly tripled to $103 million in January to March period from $24 […] May 12, 2025
Markets Dubai lays out welcome mat for Chinese finance The Dubai International Financial Centre is stepping up efforts to attract Chinese securities firms and corporates hoping to raise funds through initial public offerings, positioning itself as an alternative jurisdiction to Hong Kong and New York. Set up in 2004, the DIFC provides a platform for financial institutions with a legal and regulatory framework that […] May 12, 2025
Opinion Economy On the vain hunt for black swans in dynamic Dubai Are there any signs of fluttering dark feathers that could herald another crisis in the emirate? May 9, 2025
Infrastructure Tenders launched for $35bn Al Maktoum International Dubai plans to award major infrastructure contracts at Al Maktoum International Airport this year as construction accelerates on what will become the world’s largest airport, a senior government official said. Tenders for an automated people mover system and baggage handling infrastructure have already been floated and are expected to be awarded before the end of […] May 9, 2025
Transport Tourism and fleet expansion drive up Dubai Taxi revenue Dubai Taxi Company, 75 percent-owned by state-backed Dubai Investment Fund, said revenues rose in the first quarter of 2025, supported by fleet expansion and tourism growth. The top line increased by 5 percent year on year to AED588 million ($160 million) in the first quarter. The taxi segment revenue increased 7 percent annually to AED515 […] May 8, 2025
Real Estate Emaar Development project backlog hits $27bn Emaar Development, the UAE-focused development arm of Emaar Properties, said backlog growth had crossed AED100 billion ($27 billion) by the end of the first quarter of 2025. The backlog, which refers to future revenue from property sales to be recognised in the coming years, surged 52 percent year on year, the developer said in a […] May 8, 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
Video length: 04:32 VIDEO Tech Crypto company Animoca Brands to launch in Dubai Yat Siu, the co-founder of the blockchain and venture capital business Animoca Brands, is at the forefront of the growing digital asset sector. As part of its global expansion, the company is establishing a presence in the Middle East with the launch of its new office in Dubai. It plans to establish dedicated funds for […] May 8, 2025
Renewable Energy DP World trials hydrogen cranes to reduce emissions DP World, the world’s biggest container port operator, is testing out a hydrogen powered crane to reduce its reliance on diesel and cut carbon dioxide emissions. The Dubai logistics giant, which handles 70 million containers each year, operates 1,500 cranes in over 60 ports around the world. While it is considering converting half of those from […] May 8, 2025
Opinion Banking and Finance From ice baths to yacht parties, crypto bros descend on Dubai The first Token2049 of the year drew a record 15,000 attendees to Madinat Jumeirah May 7, 2025
Manufacturing China’s Jetour plans carmaking facility in Dubai Chinese carmaker Jetour plans to start a manufacturing unit in Dubai as a springboard to supplying the UAE and the rest of the Gulf, its head of international operations told AGBI. “The GCC is the richest region in the world, and we obviously want to take it by the storm and be the No 1 […] May 7, 2025
