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Dubai

How I got to the top: Aidan Christofferson, co-founder, Flashy

What does your company do? We are a 10 month old startup tech company, based in Dubai, which provides a platform for scalable photography solutions for GCC customers. Whether you’re a sole entrepreneur looking to capture images for your product, or a multinational enterprise looking for thousands of images a week, our platform takes care […]

Dubai business park operator TECOM plans July listing

Dubai plans to sell a 12.5 percent stake in business park operator TECOM Group in an initial public offering that will list its shares on the emirate’s exchange, the company said in a statement on Thursday. It is the second offering from the emirate this year after Dubai Electricity and Water Authority (DEWA) raised $6.1 […]

Person, Human, Judge
  • Analysis

Canada and Dubai grow closer with every deal struck

A Canadian pension fund company’s decision to invest $5 billion in UAE multinational logistics company DP World’s assets is a striking example of the deepening commercial ties between the two countries.   Caisse de Depot et Placement du Quebec’s (CPDQ) announced the deal on Monday. It will see CPDQ take a 22 percent stake in DP World’s prized assets in […]

The UAE's non-oil exports exceeded AED441 billion last year, with a growth rate of 16.7% year on year

CPDQ to invest $5bn in DP World as it looks to reduce debt

Canadian pension manager Caisse de Depot et Placement du Quebec (CPDQ) will invest $5 billion in DP World’s Dubai assets as the global ports operator looks at ways to reduce its debt. As part of the deal, CPDQ will take a 22 per cent stake in DP World’s Jebel Ali Port, Jebel Ali Free Zone and the National Industries […]

High-end cash purchases are keeping the market bouyant

Half-year house sales prompt cautious optimism in Dubai

Transactions of villas and apartments were so strong in the first five months of this year that analysts believe Dubai can withstand the battering that global inflation usually brings. An estimated total of AED61.9bn of property deals were completed between January and May, suggesting that the emirate’s market is fending off any threat from record […]

Blockchain allows secure transactions of cryptocurrencies such as Bitcoin

UAE blockchain firm links with powerhouse Roland Berger

Crypto Oasis, a Dubai-based organisation claiming to represent more than 1,000 startups and stakeholders in the blockchain industry, has formed an alliance with management consultancy Roland Berger to help grow the Middle East’s crypto economy. The strategic tie-up will combine Roland Berger’s industry-leading management consulting expertise with Crypto Oasis’s talent, innovation and infrastructure, the two […]

One in five queries for Dubai homes from Russians

Russian speaking investors continue to look to the emirate’s real estate for deals, as the ongoing Russia-Ukraine conflict intensifies Investors from Russia and the 11 other Commonwealth of Independent States (CIS) countries now represent more than 20 percent of potential homebuyers in Dubai. The average ticket size ranges from AED 2.5 million ($680,000) for individuals […]

UAE’s Al-Futtaim Group to invest up to $1bn in Egypt

Dubai-based Al-Futtaim Group said it is eyeing investments in Egypt worth $700 million to $1 billion over the next three years, an Egyptian cabinet statement said on Thursday. Gulf Arab states are channelling up to $22 billion to Egypt to help it overcome a currency crisis, the third such rescue in a decade, as analysts […]

Dubai’s Aramex in $265m deal to buy US e-commerce firm

Dubai-listed courier firm Aramex has bought US-based e-commerce company Access USA Shipping, in a deal valued at around $265 million, it was reported on Wednesday. Access USA Shipping, operating as MyUS, is described as a technology-driven, cross-border e-commerce platform, and serves customers in the US, UK and China. “We see significant benefits to be derived […]

Global real estate frenzy fades, as some markets slow

Huge price rises of as much as 50 percent in last few years In Dubai analysts agree affordability will worsen Many have resigned themselves to renting over owning, driving up rents The global property market frenzy that gathered pace during the pandemic as people scrambled to buy more living space is likely over as interest […]

DP World-owned P&O Ferries loses UK government contract

Britain says it has cancelled a contract with P&O Ferries “with immediate effect” in its latest action against the DP World-owned company following its decision to axe hundreds of staff earlier this year. The Home Office (interior ministry) said it was ending its agreement with the firm to provide contingency travel services to “juxtaposed ports” […]

Dubai ranked most overworked city in the world

Dubai is the most overworked city in the world, according to a new global report out this week – but a workplace culture expert said this could be due to the type of workers the emirate traditionally attracts. Kisi, a New York-based cloud-based security systems provider, looked at the work-life balance in 100 global cities. […]

Rocketman’s jet-pack set to take off in the Gulf

A British technology firm which has developed jet suits allowing users to fly at altitudes of up to 12,000 feet has already sold some of its products in the region and is keen to set up a training facility in the Gulf. Based in Wiltshire, South-West England, Gravity Industries was launched in March 2017 and […]

Dubai cooling firm Empower invites banks to pitch for IPO

Dubai’s Emirates Central Cooling Systems Corporation (Empower) has invited investment banks to pitch for roles in its planned initial public offering, which is slated for later this year, two sources with direct knowledge of the matter said. Empower, which is part owned by Dubai Electricity and Water Authority (DEWA), has asked banks to pitch for […]

Dubai among lead managers of Indonesia’s biggest Islamic bond

Indonesia has raised $3.25 billion by selling US dollar-denominated Islamic bonds with 5-year and 10-year tenures, the country’s biggest global sukuk issuance, the finance ministry said today. The 5-year notes carry a coupon of 4.40 percent, while the 10-year notes have a 4.70 percent coupon, below the sovereign’s initial price guidance, it said in a […]