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Dubai

Dewa CEO Saeed Mohammed Al Tayer said the utility's first quarter results had 'exceeded our expectations'

Revenues power up by 7.3% at Dewa

Dubai Electricity and Water Authority (Dewa) has reported revenues of AED763 million ($207.78 million) for the first quarter of the year amid increased demand from customers across the board. The Dubai listed company’s first quarter consolidated revenue increase of 7.3 percent year-on-year to AED 5.44 billion was mainly driven by an increase in demand for […]

As competition for passengers intensifies, Gulf airlines Emirates and Etihad recently signed an interline agreement enabling single ticket travel Video length: 02:33

Emirates and Etihad embrace on one-ticket deal

Emirates Airline and Etihad Airways, the UAE’s two flagship carriers, have joined forces to allow customers to purchase a single ticket to fly to either Dubai or Abu Dhabi, and return via the other airport.  There will be no extra cost for the service which will commence this summer.  The so-called interline agreement is designed […]

Without a straightforward insolvency process in the UAE for startups, entrepreneurs worry about the risk of personal liability for their company’s debts

Dubai’s DSI launches court case against PwC

Dubai construction contractor Drake & Scull International has registered a lawsuit against global consultancy giants PwC in Dubai Courts over a AED5.5 billion ($1.49 billion) black hole in the company’s accounts. The case revolves around the six-year period between 2011 and 2017 when PwC were auditors for DSI and were also in charge of preparing […]

DMCC CEO Ahmed Bin Sulayem

DMCC ‘well placed’ for more trade with Ukraine and Iran

Trade and enterprise freezone the Dubai Multi Commodities Centre is looking to forge closer trade ties with both Ukraine and Iran to take advantage of the countries’ growing trade appetite.  “Dubai is well placed to benefit from Saudi and Iran’s recent decision to resume diplomatic relations given the large number of Iranians living in Dubai […]

Emirates' Sir Tim Clark says 'the door has been opened' for more code-sharing with US carriers Video length: 02:33

Emirates no longer ‘dastardly competitor’, says Tim Clark

Emirates’ new tie-ups with North American airlines are opening the door for more code-share partnerships, the carrier’s president Sir Tim Clark has said. Speaking at the Arabian Travel Market on Tuesday, Clark pointed to the Dubai airline’s deals with United and Air Canada, which were both launched within the past year. Similar agreements could follow, […]

Lootah Biofuels CEO Yousif bin Saeed Lootah and Ahmed Saeed, CEO of Fenaka, at the deal signing

Lootah Biofuels turns gaze to Asia after Maldives deal

Lootah Biofuels has signed an agreement with state-owned Fenaka Corporation, a company serving the island communities of the Maldives, to establish its first biofuel plant outside the UAE. Lootah, which is based in Dubai, said the deal underscored its commitment to expand its reach internationally to meet long-term energy needs through clean alternatives. For the […]

A diver amid coral at the Amaala resort

Sustainability looms large at Arabian Travel Market 2023

Ahead of Dubai hosting one of the world’s largest travel conferences, key stakeholders in the emirate’s travel and hospitality industry have been keen to stress its sustainability credentials.  Centred on the theme Working Towards Net Zero, this year’s Arabian Travel Market (ATM) on May 1 to May 4 is expected to draw in 34,000 attendees […]

The Global Village in Dubai

Demand for Dubai tourism ‘going up’ despite challenges

One of Dubai’s leading tourism figures has brushed off concerns over rising oil prices and stubbornly high inflation, striking a bullish tone on the outlook for growth in the emirate’s tourism industry ahead of a major conference.   “We constantly monitor demand from forward bookings, and we can see that the demand for Dubai is going […]

Beverage, Tea, Coffee

Dubai tea bag producer brews record results

DMCC Tea Centre has revealed production of tea bags at its Jebel Ali Free Zone facility was up 27 percent year on year in 2022. Saeed Al Suwaidi, director of agri-commodities at Dubai Multi-Commodities Centre (DMCC), described it as a “record-breaking” year and forecast further growth for 2023 driven by technology and automation. “We expect […]

Dubai real estate value

Luxury comes at a price for Dubai’s real estate brokers

The cameras have all but stopped rolling on the third series of Dubai Hustle, a BBC docudrama that tracks the lives of real estate brokers in one of the world’s ritziest cities. Glamour junkies await their fix of tears and laughter, clothes and interiors – and firings and hirings – which feature in the lives […]

Amer Khansaheb, Board Member and Managing Director of Union Properties

Union Properties considers selling Dubai Autodrome

Developer Union Properties could sell racing circuit Dubai Autodrome as it seeks to offload AED1 billion ($272 million) worth of assets in the next two years as part of its ongoing recovery plan. Dubai Autodrome is a fully owned subsidiary of Union Properties. Managing director Amer Khansaheb revealed the company holds 15 million square feet […]

The View Hotel in Moroccan capital Rabat will be among the first establishments to benefit from the SHG-AHG collaboration

Dubai’s Sunset Hospitality Group rises in Morocco

Sunset Hospitality Group has announced a partnership to enter Morocco as part of its ongoing global expansion plans. Sunset, which operates over 25 hospitality brands around the world, ranging from resorts and beach clubs to restaurants and nightlife venues, has teamed up with African Hospitality Group (AHG) to develop new lifestyle experiences in Morocco. Having recently […]

Digital payment at till

Network International confirms takeover bid

Digital payments provider Network International confirmed on Monday it has received a takeover proposal from a consortium of CVC Capital and Francisco Partners, valuing the company at about $2.6 billion. In a statement, the Dubai-based company said the proposal “is at a value that the board would be minded to recommend to Network shareholders”. The […]

Sam Altman, CEO of OpenAI, is visiting Dubai as part of a global PR blitz aiming to dispel concerns about ChatGPT

ChatGPT founder’s visit gets Dubai talking about AI

Sam Altman, CEO of OpenAI, the company that created controversial artificial intelligence-powered chatbot ChatGPT, is heading to Dubai this summer as part of a world tour to meet with users, developers and policymakers. Industry observers say the executive’s stop in the city is recognition of the Gulf’s digital advancement and anticipate that OpenAI will establish […]