Analysis Banking and Finance Retail and corporate lending help UAE banks to prosper Consumer demand for mortgages, credit cards and personal loans as well as increased corporate and government borrowing helped most major UAE banks post double-digit rises in profits in the first quarter of this year. The profit surge, which comes despite a greater tax burden on the sector, has supported a renewed rally in banking stocks. […] June 14, 2025
Opinion People & Lifestyle How many Russians in Dubai? Let’s ask them Whether 25,000 or 300,000, it's not called Marinagrad for nothing June 13, 2025
Aviation Etihad passengers up 17% as fleet and route networks grow Passenger numbers on Abu Dhabi’s Etihad Airways rose 17 percent year on year in the first five months of 2025 as the Emirati carrier increased its fleet and route network. The total number of Etihad passengers carried from January to May reached 8.4 million, according to a statement. The average passenger load factor increased to […] June 13, 2025
Analysis Oil & Gas Saudi and UAE oil may offset any Iran disruption, analysts say Saudi Arabia and the UAE can potentially replace lost Iranian oil supply, but heightened military activity in the Persian Gulf will make it difficult to plug any shortages during Iran-Israel tensions, analysts say. Israel attacked Iranian nuclear and military sites on Friday, pushing oil prices to an intra-day high of $78 per barrel – the […] June 13, 2025
Markets Dubai shares slide nearly 2% on Israel and Iran tensions Dubai’s benchmark stock index fell sharply on Friday, as heightened geopolitical tensions in the Middle East triggered a sell-off in heavyweight property shares. The DFM General Index dropped 1.87 percent after Israel launched strikes on Iranian military targets. Israel said it had hit nuclear and missile sites as well as targeting senior commanders, calling it […] June 13, 2025
Analysis Telecoms Analysts opt for small Gulf telcos despite profits at majors The Gulf’s major former telecom monopolies reported steady first-quarter profit growth and have proved a safe haven for equity investors during market volatility this year. However, it is their smaller domestic rivals that analysts prefer. Saudi Telecom Co (STC), the UAE’s e& (formerly and more commonly known as Etisalat), Qatar’s Ooredoo and Kuwait’s Zain are […] June 13, 2025
Analysis Tech Humanoid robots: coming soon to a workplace near you Nursing, tourism and leisure, even performing arts, and anything dull, dangerous and dirty: the technology world is increasingly bullish on what humanoid robots can do. Humanoid robots are already greeting visitors at Dubai’s Museum of the Future and patrolling the emirate’s beaches, handing out fines and monitoring the use of scooters and bicycles. Jensen Huang, […] June 12, 2025
Finance UAE entrepreneurs lack succession plans, warns HSBC Almost half of entrepreneurs in the UAE have no formal succession strategy in place to protect their business or family wealth, according to a report from HSBC. This failure to prepare points to a structural risk in one of the country’s most vital economic segments. While 98 percent of UAE respondents are optimistic about their […] June 12, 2025
Transport Passengers face delays as Etihad Rail tender extended Passengers awaiting the UAE’s high-speed rail link between Abu Dhabi and Dubai may face delays after the submission deadline for key construction tenders was pushed back. Etihad Rail, the state-owned developer behind the project, originally set an early May deadline for bids covering civil works and station design for the passenger line. That date has […] June 12, 2025
Exclusive Banking and Finance Stablecoin issuer Circle targets UAE’s $44bn remittance corridor Stablecoin issuer Circle, fresh off a $1 billion initial public offering on the New York Stock Exchange, is in early talks with money-transfer houses in the UAE to plug its USD Coin (USDC) into one of the world’s busiest remittance corridors. Circle is the sole issuer of USDC, the world’s second-largest stablecoin, with a market […] June 12, 2025
Real Estate Emaar shares rise after upgrade by rating agencies Shares of Emaar Properties, Dubai’s largest listed real estate developer, rose on Wednesday after two global rating agencies upgraded its credit ratings. The stock was trading 1.5 percent higher at AED13.45 at close of trading on the Dubai Financial Market. More than 14.3 million shares had been traded. The stock has jumped nearly 5 percent […] June 12, 2025
Real Estate Branded homes in Abu Dhabi cheaper than Dubai and RAK Prices of luxury branded homes in Abu Dhabi are significantly lower than those in smaller emirates such as Dubai and Ras Al Khaimah (RAK), and below other rival global mature cities, new industry data shows. Branded properties in the UAE’s capital city cost between AED2,500 ($681) and AED4,000 per sq m. In comparison, similar homes […] June 12, 2025
Finance Gulf fintechs take notice of surging stock markets Growing demand from international investors trading in stocks on Gulf exchanges is creating opportunities for established and newer financial technology (fintech) companies alike to grow their Middle East business. “We have seen the interest in trading on Gulf exchanges increase steadily over time, but demand has skyrocketed in the past year,” Damian Hitchen, regional head […] June 12, 2025
Energy Saudi Arabia and UAE set to import electricity from India Saudi Arabia and the UAE will reportedly import electricity through undersea cables from India. The 1,700km subsea cable to Saudi Arabia will cost INR470 billion ($5.5 billion), whereas the 1,400km cable to the UAE will cost INR435 billion, India’s power minister Manohar Lal Khattar said. New Delhi will export 2 gigawatts (GW) each to Saudi […] June 11, 2025
Finance Abu Dhabi expects more rapid growth for its financial centre The rush of financial firms setting up in Abu Dhabi to tap the emirate’s wealth funds and Middle East markets will continue at pace, the official in charge of expanding its financial hub has predicted. Abu Dhabi, which holds 90 percent of the UAE’s oil reserves, has accelerated efforts to diversify its economy, leaning on […] June 11, 2025
Finance EU plans to remove UAE from money laundering watchlist The European Union (EU) plans to remove the UAE from its list of high-risk countries for money laundering, a move that could ease compliance burdens for investors and banks operating in the Gulf state. The decision still requires final approval from the European Parliament and Council, which have up to two months to raise objections. […] June 11, 2025
Oil & Gas Adnoc’s listed units tie up to propel petrochemical exports Abu Dhabi-listed Borouge and Adnoc Logistics & Services (Adnoc L&S) have entered a long-term partnership to increase the export of petrochemicals from the UAE. The contract, which will span 15 years, is expected to deliver a minimum guaranteed revenue of $531 million (AED2 billion), the companies stated in a joint announcement. The earnings will support […] June 11, 2025
Oil & Gas Adnoc Gas awards contracts to expand UAE gas reserves Adnoc Gas, a subsidiary of the state-backed Abu Dhabi National Oil Company (Adnoc), has awarded contracts worth $5 billion for the first phase of its Rich Gas Development (RGD) project. The RGD project is intended to boost liquid gas exports and support the UAE’s gas self-sufficiency. The contracts were awarded following a final investment decision […] June 11, 2025
Trade India’s Jindal SAW to invest in Abu Dhabi facility Jindal SAW, a manufacturer of steel pipes for the energy, transportation and water sectors, will invest $118 million to expand its operations in the Middle East and North Africa (Mena). The company will establish a facility in Abu Dhabi for $105 million, with an annual production capacity of 300,000 tonnes of seamless pipe, the company […] June 11, 2025
Health Secret records found of alleged NMC fraud, court told Administrators for Abu Dhabi-based NMC Health found internal “cheat sheets” showing the true condition of the company’s finances and detailing “significant payments” to people including founder BR Shetty, a UK court has heard. NMC collapsed in 2020 with debts exceeding £3 billion ($4.1 billion). Administrator Alvarez & Marsal is suing big four accountancy firm EY […] June 10, 2025
