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
Oil & Gas Scottish firm buys Dubai oil and gas consultancy A Scottish company that trains drilling personnel for the energy sector has bought a Dubai oil and gas consultancy in an effort to double its customer base in the Middle East and North Africa. Aberdeen Drilling School said it will add services including new hire assessments, role-specific progression programmes and rig reactivation support following the […] June 15, 2023
Transport Dubai transport assets under review for potential sale Dubai’s metro and leading taxi company are among the most sellable assets owned by the emirate’s Roads and Transport Authority, which has asked investment banks to assess its portfolio. The RTA owns Dubai Metro and Dubai Tram, and operates around 3,850 taxis and 1,520 buses. The authority also issues driving licences and permits, builds and […] June 12, 2023
Opinion Tourism Raffles the Palm could just be peak Dubai bling Global billionaires keep demanding more ways to splash their cash in the emirate June 9, 2023
Manufacturing UK private equity firm to sell stake in Dubai shisha company Kingsway Capital is in talks with tobacco firms as it tries to sell its stake in Dubai’s Advanced Inhalation Rituals (Air). The British private equity company, the majority owner of Air, has met with potential investors including British American Tobacco and Japan Tobacco, two sources told Reuters. The talks are part of a dual-track process, where a seller pursues a sale and an […] June 9, 2023
Tech UAE to play ‘central role’ in AI but needs greater regulation The founder of ChatGPT has praised the UAE for being ahead of the curve on the development of artificial intelligence (AI) – as a top Emirati lawyer called for greater regulation of the new technology sector. In a visit to Abu Dhabi on Tuesday Sam Altman said that the UAE had been discussing AI “before […] June 8, 2023
Transport Dubai key to GM’s $50bn driverless car plans General Motors aims to generate $50 billion a year in revenues from driverless cars, with Dubai positioned as a key market in the company’s “robust” global plans. Speaking at a Sanford Bernstein conference in New York, GM chair and CEO Mary Barra said there is a “giant growth opportunity” in the company’s Cruise autonomous vehicle […] June 7, 2023
Banking and Finance Fintech Tabby doubles debt facility Buy now, pay later company Tabby has doubled its existing debt facility as it looks to maintain triple-digit growth recorded in recent years. The fintech is backed by Abu Dhabi sovereign fund Mubadala and secured $350 million in funding through key global credit investors. Buy now, pay later (BNPL) allows consumers to order and take […] June 2, 2023
Opinion Media & Advertising Gulf News and Khaleej Times deserve a fighting chance How the region's struggling newspapers market might survive June 2, 2023
Opinion Entrepreneurs Six ways to succeed as a startup founder Essential tips for first-time entrepreneurs in the Gulf June 1, 2023
Opinion Real Estate Dubai’s office market upswing is no temporary blip It's a sign of the emirate's strong economic fundamentals June 1, 2023
Retail Brands for Less denies stake sale speculation UAE retail group Brands for Less (BFL Group) has denied reports that it plans to sell a minority stake in the business. A statement on Thursday said: “While the company, on an ongoing basis, reviews its options to further enhance growth, customer reach and customer service, there are no current plans for a sale of […] June 1, 2023
Real Estate Palm Jebel Ali to add much needed beachfront properties A revamped master plan for the billion-dollar Palm Jebel Ali man-made island development in Dubai has been approved, helping to meet demand for prime, residential, beachfront properties. The 13.4 sq km mega-project – twice the size of Palm Jumeirah – will add 110 km of coastline to the emirate and provide real estate for approximately […] June 1, 2023
Banking and Finance Dubai sovereign wealth fund sees profits rise five-fold Investment Corporation of Dubai (ICD) reported a five-fold rise in annual net profit on Wednesday as the government-owned holding company benefited from soaring hydrocarbon and transportation-related revenues. Dubai’s sovereign wealth fund owns Emirates and FlyDubai airlines, travel agency dnata, Emirates National Oil Company and stock exchange operator Borse Dubai. It also holds major stakes in […] May 31, 2023
Video length: 3:37 Video Real Estate Dubai’s wealthy buyers short of new homes in prime areas Global high-net-worth individuals are looking to Dubai to invest in property, but with only 289 units due to be completed in prime residential areas by 2026, supply in the emirate’s real estate market is low, driving prices up. “We are short of easy-to-activate waterfront development sites – we have run out of coastline,” said Faisal Durrani, […] May 31, 2023
Transport Dubai considers taxi operator IPO as sector surges Dubai is considering a stock market listing for its taxi operator, as the sector surges back to pre-pandemic levels and attracts local and international investment. The emirate’s Roads and Transport Authority (RTA) is in the early stages of considering listing the Dubai Taxi Corporation (DTC) as the latest state-backed entity to list on the Dubai […] May 31, 2023
Analysis Tourism Saudi domestic tourism drive takes off at Dubai’s expense Saudi visitor numbers to Dubai are expected to remain high, despite falling considerably from pre-pandemic levels as residents from the kingdom feel the pull of domestic tourism. The 289,000 travellers from Saudi Arabia made it the fourth-largest source market for travellers to Dubai in the first quarter of this year, but this total was still […] May 29, 2023
Analysis Retail K-beauty is not just a pretty face in Middle East Thousands of UAE fans flocked to Expo 2022 Dubai when some of K-pop’s biggest musical acts took to the stage. From Psy and his mega hit Gangnam Style to girlband (GI)-dle, Korean superstars proved to be some of the biggest crowd pleasers at the world fair. And it would appear that devotees do not only […] May 29, 2023
Aviation Emirates’ Penelope Cruz signing targets Spain and Latin America Emirates is planning to spread its wings further across Spanish-speaking destinations with the help of actress Penelope Cruz. The Academy Award-winning star has been announced as the latest brand ambassador for Emirates. She will feature in a series of advertising campaigns across the summer in English and her native Spanish. Emirates – which reported a […] May 26, 2023
Opinion Economy In the vortex of Dubai’s cost of living whirlwind Prices keep rising, but there is a flipside May 25, 2023
