Infrastructure Dubai seeks consultant for new metro Gold Line Dubai’s Roads & Transport Authority (RTA) is seeking a lead consultant for its Dubai Metro Gold Line project, according to a news report. The RTA has issued a request for proposals for the consultancy role, Dubai-based Middle East Economic Digest (Meed) reported. Potential bidders are US-based Aecom, Jacobs and Parsons, Canada’s AtkinsRealis, UK-based Mott MacDonald […] March 10, 2025
EXCLUSIVE Banking and Finance Citigroup hiring to tap the Gulf family office market Citigroup says it is expanding its presence in the UAE, the second-largest Arab economy, as it competes to manage more of the assets of wealthy Gulf merchant families. $1 trillion of these assets are expected to shift to the next generation by the end of this decade. To boost its capabilities, the US bank says […] March 7, 2025
Renewable Energy Dewa seeks developers for new phase of solar project Dubai Electricity and Water Authority (Dewa), which trades on the Dubai stock exchange, is seeking global companies to develop the 1,600 megawatt (MW) seventh phase of the Mohammed bin Rashid Al Maktoum Solar Park, according to the national news agency Wam. The phase, which is expandable to 2,000 MW, sufficient to power about 1.6 million homes, […] March 7, 2025
Analysis Banking and Finance Mashreq and First Abu Dhabi winning bank efficiency race Dubai’s Mashreq bank, the UAE’s fifth-largest by assets, slashed its cost-to-income ratio, an important banking metric, last year thanks to the partial sale of a subsidiary and more customers switching to non-interest-bearing accounts. The cost-to-income ratio shows the relation between income and the cost of acquiring that income. A declining ratio suggests that a bank […] March 5, 2025
Opinion Renewable Energy Taxation can be a catalyst in the renewable energy revolution Saudi Arabia and the UAE can lead the transition if their fiscal policies align with their ambition March 4, 2025
Aviation Falcon to invest $100m in Dubai aviation repair facility The Dubai-based aviation company Falcon will invest $100 million to upgrade its aircraft maintenance, repair and overhaul facility in Mohammed Bin Rashid Aerospace Hub, a free zone in Dubai South. The investment will be spread over the next five years, which includes building a new private jet terminal. In 2024, the company received approval from […] March 4, 2025
Education Gems Education plans to spend $300m on growth Dubai company Gems Education plans to spend around $300 million over the next two to three years to increase organic growth, its CEO told Reuters, as it bets on population growth and an inflow of wealthy individuals. Dubai is one of the world’s fastest-growing cities whose population has been swollen by foreigners, particularly higher-income earners, […] March 3, 2025
Video length: 07:42 Opinion Media & Advertising Why the British media is suddenly obsessed with Dubai Could a spate of reports mean yet more Brits heading to the UAE? February 28, 2025
Transport Parkin proposes $77m dividend for second half 2024 Parkin, the Dubai government’s parking management company, plans to pay a final dividend of AED281 million ($77 million) for the second half of 2024, the company said in a statement. The dividend payout is subject to shareholders’ approval at the annual general meeting planned by March-end. An interim dividend of AED199 million was paid by […] February 28, 2025
Transport UK company plans purchase of UAE car trade start-up Seez Seez, a Dubai-based start-up, has announced its proposed acquisition by UK-based automotive technology company Pinewood AI. The deal is worth $46.2 million and will comprise cash alongside shares, the company said in a statement. Seez is a technology company that provides digital services for car dealerships aimed at increasing sales, including an AI virtual assistant, […] February 28, 2025
Video length: 04:45 VIDEO Education Universities have to change to bridge the skills gap Education in the Mena region must transform to reflect the changing market, according to experts. Ismael Al-Hinti, president of Al Hussein Technical University in Jordan told AGBI that young people entering the jobs market in the region face a skills mismatch, with unemployment rates highest among the most educated. The answer, according to Al-Hinti, is […] February 27, 2025
Telecoms Dubai fines companies millions for telemarketing violations Dubai has slapped a total of AED8 million ($2 million) in fines on 159 companies for breaching new telemarketing rules, in the emirate’s first crackdown on nuisance calls. Authorities introduced the regulations in August 2024, barring companies from calling numbers on the national “Do Not Call Registry” and restricting telemarketing hours to 9am to 6pm. […] February 25, 2025
Opinion Trade UAE-Kenya trade deal paves way for investment boost The Cepa will boost agricultural exports and drive infrastructure spending February 25, 2025
Construction Sidara renews talks to take over John Wood Group Engineering and construction consultancy Sidara has returned to the negotiating table for talks to take over the troubled British engineer John Wood Group. Sidara, which is based in Dubai, was in discussions last year over a potential $1.6 billion acquisition, but walked away in August, citing “geopolitical risks and market uncertainty”. Problems at the Scottish […] February 25, 2025
Banking and Finance Dubai crypto regulator Vara monitoring Bybit hack Dubai’s Virtual Assets Regulatory Authority (Vara) has said it is “actively monitoring” the fallout from a $1.4 billion hack at Bybit, a cryptocurrency exchange that has fallen victim to what it calls crypto’s largest heist. Dubai-based Bybit said hackers exploited a smart contract – a self-executing program that automates blockchain transactions – during a routine […] February 24, 2025
Construction Drake & Scull awarded contracts worth over $270m Shares in Drake & Scull International opened 2 percent up on Monday morning after the construction and engineering company announced two contract wins in Dubai worth in excess of AED1 billion ($270 million). DSI said in a stock exchange announcement that it has been awarded the deal at Arabian Hills, a 224 million square foot […] February 24, 2025
Aviation Emirates explores more China destinations Emirates intends to fly to more cities in China this year. The airline plans to start daily flights to Shenzhen using Boeing’s widebody 777 jets by mid-year, Bloomberg said, citing informed sources. The launch date has been postponed multiple times due to delivery delays from Boeing and Airbus and a retrofit programme, the sources said. In addition, […] February 23, 2025
Video length: 05:03 VIDEO EXCLUSIVE Tech Errol Musk: Tower will be a ‘truly international institute’ Errol Musk told AGBI in an exclusive video interview during his visit to Dubai that the Musk Tower that is to be built in the UAE will serve as an innovation centre. It will also foster developments in science “that are ignored”, including “space-time travel and gravity”, he said. Discussions are ongoing with Abu Dhabi-based […] February 21, 2025
Food & Drink Dubai company launches halal-brewed Arabian Ale A Dubai company has launched an ale which has been certified as halal since it contains no alcohol throughout the entire brewing process. Majlis Premium Arabian Ale, which is alcohol free, has been developed by a company called Midtown Factory, using many ingredients found in regular beer. Arabian Ale contains malted barley from Austria and […] February 20, 2025
Markets More dual listings expected as IPO trend continues Last year, eight companies launched initial public offerings (IPO) on the two main stock exchanges in the UAE, attracting more than $7 billion in investment. The same number could float this year and list in neighbouring Saudi Arabia, analysts say. UAE-based technology company Alpha Data has already announced plans to list 40 percent of its […] February 20, 2025
