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United Arab Emirates

Emirates NBD was the first bank merger to occur, in 2007

UAE needs bigger but fewer banks, says expert

The United Arab Emirates (UAE) has too many banks and the sector needs to see more consolidation, especially as profits are squeezed and costs continue to rise, an industry expert told AGBI today. “I think it would be helpful to have fewer banks [in the UAE]. I have been an advocate of that,” Asad Ahmed, […]

Person, Human, Icing

Greek graviera cheese could soon be off the menu

In a small factory on the Greek island of Naxos, workers are busy churning out its famous graviera cheese. At least, they are for now. A crisis unfolding on the island’s farms is sparking fears that the locally-produced pale yellow wheels may soon start to disappear from the cheese counter. Standing among his cows in […]

  • Analysis

Stars and strife: rebuilding UAE-US relations

The passing of UAE President Sheikh Khalifa has prompted an outpouring of condolences and support from around the globe, with heads of state being hurriedly dispatched to Abu Dhabi.  Particularly notable among these was the high-profile delegation sent by the US; headed by Vice-President Kamala Harris, it included nearly all of the administration’s top national […]

BR Shetty, founder of NMC Healthcare, denies wrongdoing and sues colleagues as the collapse of his company

NMC scandal is watershed moment for UAE businesses

Revelations about the scale of hidden debts spark debate in the UAE about the need for more rigorous bank loan checks and company auditing The ongoing legal battles surrounding the NMC Healthcare, the largest private healthcare provider in the United Arab Emirates (UAE), has been a big learning curve for how businesses manage their financial […]

Tie, Accessories, Accessory

Russian oil dilemma may kickstart EU-GCC trade deal

A new partnership adopted today between the European Commission and the Gulf Cooperation Council (GCC) could kickstart stalled talks on a free trade agreement. The High Representative and the European Commission said in a joint communication that the strategic partnership would focus on areas such as energy security, climate change and the green transition, digitalisation, […]

Borouge produces polyolefins used in cars and food packaging

Borouge to sell 10% of shares in IPO as it lists on ADX

Abu Dhabi National Oil Company (ADNOC) and its Austrian chemicals partner Borealis AG are planning an initial public offering (IPO) of their petrochemicals joint venture Borouge on the Abu Dhabi Securities Exchange (ADX). Borouge, a specialty plastics firm that produces polyolefins used in items such as cars and food packaging, said its offering will consist […]

‘Flying taxi airports’ to get the green light in UAE

The UAE is expected to issue draft regulations on so-called vertiports – micro-scale airports that can support the expected growth of vertical take-off and landing aircraft (VTOLs) – in the first quarter of 2023. Mohammed Faisal al Dossari, senior director, Air Navigation and Aerodromes Department, UAE General Civil Aviation Authority (GCAA) said the regulations would […]

Juan Carlos and Felipe of Spain

Juan Carlos to visit Spain after two years in UAE exile

The former king of Spain, Juan Carlos, will travel to his country this weekend for the first time since he left under a cloud of scandal in August 2020, making his home in the United Arab Emirates. Juan Carlos, 84, is visiting the northern region of Galicia for a boating event, according to the mayor […]

Mobile Phone, Cell Phone, Phone

Open all hours: inside the Gulf’s banking revolution

The UAE’s first open banking platform is helping fintech and banks bring personalised services to customers, and is accelerating the regional growth of this progressive sector The Gulf has the potential to leapfrog other regions of the world, including Europe, with its adoption of open banking as bricks and mortar branches “slowly disappear”, according to […]

Dubai real estate bonanza fuelled by Expo 2020 success

Dubai’s real estate market felt the full impact of Expo 2020’s success in April, with deals soaring to record levels. After the conclusion of Expo 2020 Dubai, 6,983 real estate sales transactions worth AED 18.2 billion ($4.9 billion) were recorded in April – the highest figure for the month since 2009. Secondary market sales transactions, […]

Sheikh Khalifa bin Zayed al-Nahyan changed the face of the United Arab Emirates

Sheikh Khalifa, ‘master statesman’ who put UAE on the map

Analysts pay tribute to the visionary leader who transformed his region “The UAE is almost unrecognisable from 20 years ago and has developed into a vibrant and dynamic place where individuals and businesses can flourish,” according to Scott Livermore, chief economist at research group Oxford Economics Middle East. That is the legacy of Sheikh Khalifa […]

Etisalat launched its e& identity in February

$4.4bn sounds a lot but e& has made the right call on Vodafone

Vodafone and e&, formerly known as Etisalat, will look to launch new products globally while working together to make greater efficiencies following the UAE telco’s deal to buy a $4.4 billion stake. Following the announcement that the UAE’s biggest telecoms operator has acquired a 9.8 percent stake in British mobile operator Vodafone Group, AGBI spoke […]

Emirates should be allowed to fly to Berlin, says German exec

The bilateral air service agreement between Germany and the United Arab Emirates should be expanded to allow Dubai’s Emirates airline to operate direct flights to more cities, including the capital Berlin, a senior official from the Middle East office of the German National Tourist Board (GNTB) told AGBI. Under the existing air services agreement between […]

Cryptocurrencies have their ‘Lehman brothers moment’

Despite the crash of cryptocurrency stablecoin ecosystem, retail investors still see the contraction of currencies like Bitcoin as an opportunity As billions of dollars of value are wiped off cryptocurrency markets worldwide, retail investor strategies are diverging from those in the institutional space — the former senses cheap assets, while the latter worries of a […]