Analysis Retail UAE’s gold clean-up rules will shine in the long-term New UAE gold regulations could take the shine off the sector and lead to a supply and profits squeeze, according to experts. The due diligence rulings were announced last week to help stem the flow of supplies from conflict zones and enhance the UAE’s global reputation in the long-term. The Due Diligence Regulations for Responsible […] July 25, 2022
Analysis The Surpluss aims to be ‘Airbnb of business’ in Dubai Just like Airbnb offered an alternative to hotels and Uber challenged the taxi market, Dubai-based Rana Hajirasouli says she wants to “instigate a paradigm shift” to disrupt how companies manage their business resources, while playing a key role in the circular economy. Hajirasouli plans to launch The Surpluss next month, and the best way to […] July 25, 2022
Tourism Dubai digital maps get self-driving on the road Digital maps are being created in Dubai in preparation for the launch of self-driving vehicles in the city next year. US-based Cruise will this month operate two Chevrolet Bolt electric vehicles to prepare the maps for the company’s self-driving vehicles which are scheduled to be on the road in Dubai in 2023, making it the […] July 25, 2022
How I got to the top Construction Nisreen Kayyali, founder and lead architect What does your company do? Nisreen Kayyali Consulting Engineers is a group of architects, engineers, and interior designers that specialises in the design and supervision of residential projects in the UAE. What inspired you to develop your idea? Ever since I graduated from university as an architect in 1997, I’ve dreamed about establishing a firm […] July 22, 2022
Economy Dubai welcomes 45,000 new businesses in 2022 … so far Dubai has seen a 25 percent rise in the number of new company licences issued in the first six months of 2022, highlighting the impact of the government’s new business incentive initiatives. “As a corporate services provider, I have seen first-hand a significant rise in foreign direct investment into the UAE from several geographies directly […] July 22, 2022
Manufacturing Dubai’s Negma invests in French driverless vehicle manufacturer Negma Group has signed a $36 million funding agreement with French firm Navya, which could bring the prospect of driverless vehicles on the emirates’ roads a step closer. Under the terms of the agreement the financing will take the form of convertible bonds, while the Dubai-based investment firm will also have the option to purchase […] July 22, 2022
Food & Drink UAE restaurants call for rent cap as inflation bites UAE restaurant operators have called on the government to introduce a cap on how much landlords can increase rents. A survey carried out last month by the UAE Restaurant Group (URG), a trade body which represents around 15,000 outlets, found that 63 percent of respondents said rent renegotiations was their biggest focus for 2022, followed […] July 21, 2022
Energy Dubai’s DEWA to invest over $10bn as energy demand rises Dubai Electricity and Water Authority (DEWA) plans to invest 40 billion dirhams ($10.89 billion) on capital expenditure over the next few years, just a day after it announced energy demand in the emirate rose by 6.3 percent year-on-year in the first half of 2022. The firm provides electricity and water services to 3.5 million people […] July 21, 2022
Analysis Economy Mixed reception for UAE’s Golden Visa discount programme Some experts accuse initiative of being mere ‘window dressing,’ while others praise its ingenuity Dubai has bolstered its Golden Visa scheme with associated discounts to help attract high-level entrepreneurs, doctors, academics and creatives to its shores. The government announced this week that it would provide its Esaad privilege card – originally only for public sector employees […] July 21, 2022
Exclusive Retail Vision giant Magrabi eyes IPO and global expansion Magrabi Retail could be set for international expansion and an upcoming IPO, according to Amin Magrabi, CEO of the Middle Eastern ocular powerhouse. With 142 stores, an estimated market share of 40 percent, 1,350 employees and revenue of $220 million a year, Riyadh-headquartered Magrabi Retail plans to double in size by 2025. “International expansion is […] July 20, 2022
Tourism London-Dubai ticket sales spike despite chaos at Heathrow Ticket sales for London-Dubai flights in July and August have surged above pre-pandemic levels, even as Emirates has agreed to cap bookings from Heathrow in a bid to help the airport cope with its capacity crisis. “Current bookings, as of July 9, for July and August have climbed to 8 percent above pre-pandemic levels,” Olivier […] July 19, 2022
Tech Emirates-US joint venture opens world’s largest vertical farm Emirates Flight Catering (EKFC) and US-based Crop One have announced the opening of Bustanica, the world’s largest hydroponic farm, backed by an investment of $40 million. The facility is the first vertical farm for Emirates Crop One, the joint venture between the two companies, and is located near Al Maktoum airport at Dubai World Central. […] July 18, 2022
Banking & Finance Crypto giant OKX plans ‘long-term play’ in UAE after licence win Crypto trading app OKX plans to make Dubai its regional hub and hire 100-plus people in the UAE July 18, 2022
Opinion Real Estate Russia’s rich are driving ups and downs of Dubai property prices The apparent resurgence in the housing market looks like good news, but take a closer look at the numbers July 12, 2022
Manufacturing Rolls-Royce picks Dubai for first overseas private office UK-based luxury car maker Rolls-Royce has opened its first overseas private office outside the UK in Dubai in a sign of the Gulf region’s growing importance to the world-famous marque. The new Dubai outpost will be an extension of the company’s world-renowned centre of luxury manufacturing excellence in Goodwood, West Sussex, England. The Private Office […] July 9, 2022
Analysis Real Estate Sanctions won’t dampen Dubai property allure for Russians The popularity of Dubai among Russian property buyers is unlikely to be dented by a US threat to impose sanctions on UAE banks who process their financial transactions, as most payments are made using cash or cryptocurrency. Dubai-based Mira Estate said its property sales to customers from Russia and the 11 other Commonwealth of Independent […] July 8, 2022
How I got to the top Manufacturing Ziad Bushnaq and Faisal Al Majali, Delektia founders What does your company do? We are a UAE-based food product development company that produces frozen, fully-cooked, and ready-to-heat-and-eat meals that are healthy and free of preservatives. We like to think our product line gives consumers a taste of home. How I got to the top: Erika Blazeviciute Doyle, Drink Dry How I got to […] July 8, 2022
Employment Tech workers reap big salaries amid urgent skill shortage Dubai-based software engineers can earn up to 30 percent more than similar workers in rival tech hubs in Europe, due to an ongoing skills shortage within the sector across the Middle East. Amanda Line, a partner at global consultancy firm PwC, said that the Middle East and North Africa (MENA) region needs to create 300 […] July 7, 2022
Exclusive Aviation Emirates chief: ‘We’re almost back to normal’ Dubai airline still needs 5,000 more staff and 900 pilots, says COO Dubai’s Emirates airlines will splash $2 billion on new hires and aircraft upgrades as demand for flights ramps up, a top executive has revealed. Aviation was among the worst hit sectors during the global pandemic as international borders shuttered during lockdowns. In 2020 […] July 6, 2022
Exclusive Food & Drink $500-an-hour sobriety coach helps Dubai’s big drinkers Dubai’s work-hard, play-hard expat party lifestyle, and its famous all-you-can-drink weekend brunches can be the perfect breeding ground for potential alcoholics, according to the founder of a new $500-an-hour sober coaching service. British sober and recovery coach, David Golding, relocated to Dubai nearly four months ago and has launched Sober Lifestyle Coaching, a 13-week recovery […] July 1, 2022
