Agriculture UAE firms to develop land in Angola for rice and avocados Two UAE companies have signed a deal to develop a vast plot of land in Angola as the African agricultural sector’s appeal grows among Gulf investors. Dubai Investments and E20 Investment, an Abu Dhabi agribusiness investment company, will develop 3,750 hectares – approximately the size of 9,300 football fields. Maximising the potential of Angola’s fertile […] July 11, 2023
Opinion Banking and Finance Taxing questions at the heart of the Dubai economic model The low-tax regime in the UAE was the result of very deliberate economic strategy July 11, 2023
Markets Banks and property lead Dubai bourse to eight-year high Dubai’s stock index hit eight-year highs this week, extending a bull rally that has enabled the once-beleaguered bourse to outperform its regional rivals in 2023. The emirate’s benchmark rose 1.0 percent to 3,962 points on Thursday, its highest close since July 2015 to take its gains this year to 19.9 percent. Saudi Arabia’s index is […] July 7, 2023
Video length: 6.42 Video Lifestyle Dubai plans to grow creative economy by 25% Dubai’s creative economy is expected to experience steady growth over the next few years, with the sector reaching 140,000 jobs by 2026, up from 90,000 in 2020. The GDP contribution target for the industry is set at 5 percent. This is up from the current 4 percent for creative industries including the arts, culture, music, films, […] July 7, 2023
Oil & Gas Gulf markets subdued as oil fails to rally after cuts Oil prices were little changed on Thursday as fears of a global economic slowdown overshadowed tighter crude supply following extended output cuts announced by top exporters Saudi Arabia and Russia earlier this week. The total cuts now stand at more than 5 million barrels per day (bpd), equating to 5 percent of worldwide oil output. […] July 7, 2023
Opinion Aviation India’s airlines face fight for market gains from the Gulf The real winner should be the traveller July 6, 2023
Manufacturing Shisha tobacco company has IPO in the pipeline for 2024 The Middle East’s biggest shisha tobacco company has invited banks to pitch for roles in its planned initial public offering next year. Dubai’s Advanced Inhalation Rituals (Air) is planning a flotation in the first half of 2024, sources told Reuters. Air is one of the world’s biggest producers of shisha molasses. Its majority owner Kingsway […] July 4, 2023
Retail JD Sports agrees deal for 50 Middle East franchise stores The UK’s largest sportswear retailer is planning to open around 50 stores in the Middle East after agreeing a franchise deal with Dubai-based GMG. JD Sports Fashion posted revenue in excess of £8.5 billion last year and has more than 3,400 stores across 38 countries. The new agreement – JD’s first franchise partnership – will […] July 3, 2023
Opinion Economy ‘Eidonomics’ explained While there appears to be a shutdown during Eid, many businesses still prosper June 30, 2023
Real Estate Indian buyers flock to Dubai for higher rental yields With more wealthy Indians moving to the UAE and rental yields in the Gulf state more than twice the size of those in India, interest in purchasing real estate is set to continue to rise. Indians were the top foreign buyers in Dubai last year, spending more than those from Russia, China, Pakistan and the […] June 29, 2023
Employment Doha and Dubai most competitive cities for jobs Doha and Dubai are the top two most competitive cities in the world for applying for new jobs, according to a study from online resume builder Resume.io. The Gulf cities boasted the highest number of candidates per LinkedIn job posting in February this year. In Doha, the average listing received more applicants (399) within a […] June 26, 2023
Analysis Real Estate Affordable homes warning for Dubai private developers Private developers in Dubai must build enough affordable housing or the government may be forced to step in, a prominent business leader has warned. Nasser al Shaikh, who served as director-general of Dubai’s Department of Finance until 2009 and held senior roles at real estate finance firm Amlak Finance and property developer Deyaar Development, said […] June 26, 2023
Aviation Sponsorship deal grows Emirates’ presence in Africa Emirates airline is to sponsor a Tunisian sports club, as the Dubai carrier looks to increase its revenues in Africa. The airline will sponsor Etoile Sportive du Sahel, which has teams across a number of sports including football, basketball, volleyball and handball. Emirates’ branding will be on the teams’ jerseys and training kits, as well […] June 23, 2023
Video length: 03:02 EXCLUSIVE Tech $2bn funding behind Dubai’s digital startup economy Dubai tech startups have raised $2 billion and completed six mega-rounds valued at over $300 million in 2022, according to a report by the Dubai Digital Economy. These included two listings for scaleups (startups that have raised over $1 million in capital) on stock exchanges. The UAE’s national digital economy is predicted to grow to […] June 23, 2023
Analysis Trade Deals surge as trade between Spain and UAE increases Barcelona outdoor furniture brand Kettal will enter the UAE luxury living market next year in an agreement with family office Vivium Holding, as UAE-Spain trade rose sharply in early 2023. Vivium Holding will exclusively distribute Kettal’s premium collections, with plans to open a flagship store in the UAE in 2024. Elie Khouri, founder and CEO […] June 21, 2023
Economy Costs rise, but no fears of a crash for Dubai’s super-rich Dubai has surged up global cost of living rankings for the super-rich, but a leading Swiss wealth management group has no concerns the emirate could be headed for another economic crash. Dubai is the seventh most expensive city in the world for high net worth individuals (HNWIs) to live – ahead of European cities Paris […] June 20, 2023
EXCLUSIVE Tech Lottoland founder bets on softened gambling rules in UAE The entrepreneur behind the global lottery betting platform Lottoland is confident that he will one day be able to offer the service in the UAE. David von Rosen-von Hoewel, an international investor and founder of businesses in fashion, finance and gaming, said plans for the UAE’s first casino in Ras Al Khaimah put forward by […] June 19, 2023
Trade Dubai Chambers London hub opens to grow trade Dubai Chambers has opened an office in London aimed at boosting bilateral trade with the UK, as the number of British companies setting up in the emirate grew by a quarter in the last year. “We are opening this office for three main reasons,” Khalid al Shamsi, vice president of operations at Dubai Chambers, told […] June 19, 2023
Opinion Media & Advertising Hacks and flacks chew the fat at the Bahri Bar An informal summer meet is an excellent opportunity for gossip and contact harvesting June 16, 2023
Employment UAE talent drive continues despite rising living costs The UAE’s talent drive continues to record strong growth despite the Gulf state’s rising cost of living. Industry executives say that the number of overseas companies and candidates looking to join the labour market is at a record high. “Dubai is becoming increasingly more attractive for people to move here, with record levels of new […] June 15, 2023
