Aviation Sheikh Ahmed: China’s Boeing rejects won’t fly for Emirates Emirates Airline’s chairman Sheikh Ahmed bin Saeed Al Maktoum has downplayed speculation that the carrier could buy Boeing planes originally destined for China. Speaking at the Arabian Travel Market in Dubai on Tuesday, Sheikh Ahmed said Emirates was actively exploring options to expand its fleet, but the Boeing aircraft – ordered by Chinese carriers but […] April 29, 2025
Real Estate Abu Dhabi developer Aldar reports $520m first quarter profit Aldar Properties, Abu Dhabi’s largest real estate developer, has reported a rise in first-quarter profits driven by sales to international buyers. Net profit after tax increased 22 percent year on year to AED1.9 billion ($520 million). Revenue was up 39 percent to AED7.8 billion. Overseas investors and expatriates living in the UAE accounted for AED7.4 […] April 29, 2025
EXCLUSIVE Aviation Boeing delays are hampering Flydubai expansion, says CEO Delays in the delivery of Flydubai’s first wide-body aircraft from Boeing are hampering the carrier’s expansion into long-haul routes and it may seek compensation, its CEO has told AGBI. The low-cost carrier is waiting for 30 Boeing 787-9 twin-aisle planes, part of an $11 billion deal announced at the 2023 Dubai Airshow. The first deliveries […] April 29, 2025
Aviation ‘I expect more Europeans to come’: Etihad chief shrugs off tariffs Abu Dhabi’s Etihad Airways is not seeing any effects from the turmoil caused by US President Donald Trump’s tariff policies, its CEO Antonoaldo Neves told Reuters on Monday, while adding it was too early to fully gauge the impact of the levies. Trump’s announcement of sweeping tariffs on dozens of US trading partners this month […] April 29, 2025
Petrochemicals UAE’s Borouge to expand its production capacity UAE petrochemical company Borouge, a specialist in polyethylene and polypropylene, has unveiled expansion plans to increase annual production capacity to more than 6.6 million tonnes by 2028. The expansion is expected to contribute $165-$200 million in earnings before interest, tax and depreciation, the company said in a statement. Borouge, backed by Abu Dhabi National Oil […] April 29, 2025
Banking & Finance First Abu Dhabi Q1 profit rises by nearly a quarter First Abu Dhabi Bank (FAB) reported an increase in profits in the first quarter of this year, fuelled by higher revenue from its retail, wholesale and investment banking segments. FAB’s net profit rose 23 percent to AED5.1 billion ($1.4 billion) in the January to March period, while revenue saw an 11 percent growth to AED8.8 […] April 29, 2025
Finance Adia invests in IPO of India’s Ather Energy The Abu Dhabi Investment Authority (Adia) is among investors in the initial public offering of Indian electric scooter maker Ather Energy. Ather, India’s fourth-largest electric two-wheeler manufacturer, is seeking to raise around $360 million to fund expansion. The proceeds will be used to build a new manufacturing facility in the central western Indian state of […] April 29, 2025
Adnoc to raise $1.5bn with Islamic bonds Abu Dhabi state oil giant Adnoc will raise $1.5 billion from a debut sale of Islamic bonds, or sukuk, according to a document seen by Reuters on Monday. Abu Dhabi National Oil Company, acting through its primary debt capital markets entity Adnoc Murban, is selling the sukuk at 60 basis points over US Treasuries, the […] April 29, 2025
Banking & Finance UAE card payments to surpass $150 billion in 2025 Card transactions in the UAE are projected to reach AED565.5 billion ($154 billion) this year, according to research company GlobalData. The shift toward electronic payments is being driven by increasing consumer preference for digital transactions and government support for financial inclusion. Last year, UAE card payment values rose 13 percent year-on-year to AED511 billion. GlobalData […] April 29, 2025
Construction Egyptian minister touts Ras El Hekma as blueprint for global deals Egypt’s Ras El Hekma deal with the United Arab Emirates shows how creditor and debtor countries around the world can work together for mutual benefit, the Egyptian minister of planning has said. It may also lead to similar agreements with other Gulf nations, according to Rania Al Mashat. “What Ras El Hekma has done is […] April 28, 2025
Finance Binance powers crypto dialogue with community events Binance, the world’s largest cryptocurrency exchange by volume, is helping to unite the industry, facilitate connections and drive conversation through its calendar of live and online events. Kim Murphy, its head of global event marketing, gives us the lowdown Why are events so important to Binance and the industry? Events bring crypto to life. They […] April 28, 2025 In association with
Real Estate Dubai ad portals exploring IPOs as real estate rises Dubai-based classified ad portals Dubizzle and Property Finder are both said to be exploring the idea of selling shares to the public in an initial public offering, Bloomberg reported, citing people familiar with the matter. Dubizzle is preparing to meet with potential investors and could raise at least $500 million in a possible IPO, the […] April 28, 2025
Tourism International visitors to Dubai rise 3% Dubai welcomed 3 percent more international visitors in the first quarter of this year compared with the same period last year, with the largest single group coming from Western Europe. More than 5.3 million people visited the emirate – the most populous of the seven-member UAE federation – with those from Western Europe accounting for […] April 28, 2025
Real Estate Value of Abu Dhabi property deals up by a third in Q1 Abu Dhabi recorded strong real estate activity in the first quarter of 2025 as property deal value grew by around a third annually to AED25 billion ($7 billion) across 6,896 transactions. The value of sales and purchases rose 27 percent to AED15.5 billion, while the volume grew by 11 percent to 3,819, according to the […] April 28, 2025
Analysis Markets Market volatility adds allure to utilities and telecoms In a month of wild market swings, Gulf equity investors have felt panic, trepidation, bewilderment and more. With further volatility probable, experts say a prudent strategy is to focus on defensive sectors less exposed to the global economy. Gulf bourses tumbled in early April, along with the US dollar and oil prices, after President Donald […] April 28, 2025
Artificial Intelligence Abu Dhabi AI chief bullish over future investment Investment in artificial intelligence is at “a crossroads” as the build-out of underlying infrastructure, such as data centres, demands trillions of dollars more in capital, according to Abu Dhabi’s technology fund MGX. Ali Osman, MGX’s chief investment officer for AI, said on Friday that he remains optimistic about “tremendous” growth in this space even amid […] April 25, 2025
Trade US-driven trade war forces Mubadala to change ‘assumptions’ Abu Dhabi sovereign wealth fund Mubadala Investment Company said it will take more time to consider its investments and is changing its “base case assumptions” against the backdrop of heightened global trade tensions driven by the US. The fund, which has more than $300 billion of assets under management in over 50 countries around the […] April 25, 2025
Banking & Finance Dubai Islamic Bank reports first quarter profit increase Dubai Islamic Bank’s profits rose in the first quarter of this year, as deposits increased by more than a third and the non-performing financing ratio improved. Net profit after taxes rose 8 percent annually to AED1.8 billion ($490 million) in the first three months of 2025, driven by quality growth in earning assets. Pre-tax profit […] April 25, 2025
Markets Fuel delivery startup Cafu considers IPO Fuel-on-demand vehicle service Cafu is working on selling shares in an initial public offering (IPO). The UAE-based startup, founded in 2018, is working with financial advisory and asset management company Lazard, Bloomberg reported this week, without identifying its sources. Bloomberg said the Cafu IPO discussions are at a preliminary stage and no final decisions have […] April 25, 2025
People & Lifestyle Starzplay reports record growth driven by AI Abu Dhabi-backed streaming platform Starzplay said it made record revenue last year, passing $100 million for the first time, supported by “artificial intelligence content discovery.” In 2022, the Abu Dhabi-based ADQ and a unit of federal telecommunications company e& (formerly Etisalat) bought a majority stake in Starzplay for $420 million. Since then revenue at the […] April 24, 2025
