Opinion Economy On the vain hunt for black swans in dynamic Dubai Are there any signs of fluttering dark feathers that could herald another crisis in the emirate? May 9, 2025
Retail Emarat customers can soon use crypto to pay for gas Customers at some of Emarat’s service stations across the UAE will soon have the option to pay for their gas and snacks in cryptocurrencies. Emarat has partnered with UAE crypto trading platform Crypto.com to allow merchants to use cryptocurrencies at their checkouts, the company announced on LinkedIn this week. Initially, 10 service stations will be […] May 9, 2025
Infrastructure Tenders launched for $35bn Al Maktoum International Dubai plans to award major infrastructure contracts at Al Maktoum International Airport this year as construction accelerates on what will become the world’s largest airport, a senior government official said. Tenders for an automated people mover system and baggage handling infrastructure have already been floated and are expected to be awarded before the end of […] May 9, 2025
Leisure & Hospitality Wynn says UAE casino on track despite delays to US projects Wynn Resorts has said its $5 billion integrated resort in the UAE is progressing on schedule, even as the Las Vegas casino operator delays hundreds of millions of dollars in other projects due to rising construction costs linked to new Trump tariffs.` While gambling remains prohibited under UAE federal law, the 47-storey resort on Al […] May 9, 2025
Mining Guinea ‘to pull EGA’s licence over alumina refinery row’ The Guinean government’s move to revoke Emirates Global Aluminium’s (EGA) mining licence stemmed from the company’s failure to fulfil its commitment to construct an alumina refinery, sources have told Reuters. Reuters reported on Wednesday that Guinea has launched a process to revoke the EGA licence, escalating a dispute that began in October with the suspension […] May 9, 2025
Health ADIO expands US office in health sector push The state-backed Abu Dhabi Investment Office (ADIO), which aims to attract inward investment into the UAE capital, is expanding its US operations to secure new funds for the local health sector. The expansion of the San Francisco office will support Abu Dhabi’s clinical validation and regulatory advancement in the healthcare and other priority sectors, state-run […] May 9, 2025
Logistics AD Ports reports revenue gains from Red Sea crisis Abu Dhabi-listed AD Ports Group said first-quarter 2025 revenue jumped as Red Sea disruptions positively impacted its container shipping business. The top line was up 18 percent year on year to AED4.6 billion ($1.3 billion), supported by revenues from ports, economic cities and free zones, as well as maritime and shipping clusters, the company said […] May 9, 2025
Transport Tourism and fleet expansion drive up Dubai Taxi revenue Dubai Taxi Company, 75 percent-owned by state-backed Dubai Investment Fund, said revenues rose in the first quarter of 2025, supported by fleet expansion and tourism growth. The top line increased by 5 percent year on year to AED588 million ($160 million) in the first quarter. The taxi segment revenue increased 7 percent annually to AED515 […] May 8, 2025
Real Estate Emaar Development project backlog hits $27bn Emaar Development, the UAE-focused development arm of Emaar Properties, said backlog growth had crossed AED100 billion ($27 billion) by the end of the first quarter of 2025. The backlog, which refers to future revenue from property sales to be recognised in the coming years, surged 52 percent year on year, the developer said in a […] May 8, 2025
Aviation Emirates Group delivers record annual profit Emirates Group, Dubai’s flagship aviation conglomerate, has posted record annual earnings on the back of a surge in international travel, rising cargo volumes and declining fuel costs. The state-owned group, which includes long-haul carrier Emirates airline and global airport services provider Dnata, reported a profit of AED20.5 billion ($5.6 billion) for the financial year ending […] May 8, 2025
Banking and Finance Abu Dhabi’s Mubadala reveals 34% rise in 2024 spending Mubadala deployed AED119 billion ($32 billion) of capital last year, a rise of nearly 34 percent on 2023, the Abu Dhabi sovereign wealth fund has revealed in its latest earnings report. The fund, which is thought to have been the world’s most active sovereign investor in 2024, has not released data on its annual revenues […] May 8, 2025
Oil & Gas Adnoc Drilling to pay quarterly dividends Adnoc Drilling, a subsidiary of state-backed oil major Adnoc, will begin paying quarterly dividends, starting with $217 million for the first quarter of 2025. This comes as the company reported a 24 percent year-on-year jump in net profit to $341 million during the quarter ended March 2025. Revenues surged 32 percent yearly to $1.2 billion, […] May 8, 2025
Video length: 04:54 Leisure & Hospitality Disney to open theme park in Abu Dhabi The Walt Disney Company has announced that it is partnering with Abu Dhabi’s leisure-focused developer Miral to build a theme park in the UAE capital. The resort, Disney’s first in the Middle East, will be on the waterfront of Yas Island. It will be the US company’s seventh theme park around the world and the […] May 8, 2025
Banking and Finance UAE plans to double Islamic bank assets The UAE has approved a new strategy that aims to more than double the assets of its Islamic banks in the next six years. The government aims to increase the assets of Islamic banks from AED986 billion ($268 billion) to AED2.56 trillion by 2031, state-run news agency Wam quoted vice president and prime minister Sheikh […] May 8, 2025
Video length: 04:32 VIDEO Tech Crypto company Animoca Brands to launch in Dubai Yat Siu, the co-founder of the blockchain and venture capital business Animoca Brands, is at the forefront of the growing digital asset sector. As part of its global expansion, the company is establishing a presence in the Middle East with the launch of its new office in Dubai. It plans to establish dedicated funds for […] May 8, 2025
Renewable Energy DP World trials hydrogen cranes to reduce emissions DP World, the world’s biggest container port operator, is testing out a hydrogen powered crane to reduce its reliance on diesel and cut carbon dioxide emissions. The Dubai logistics giant, which handles 70 million containers each year, operates 1,500 cranes in over 60 ports around the world. While it is considering converting half of those from […] May 8, 2025
Opinion Banking and Finance From ice baths to yacht parties, crypto bros descend on Dubai The first Token2049 of the year drew a record 15,000 attendees to Madinat Jumeirah May 7, 2025
Manufacturing China’s Jetour plans carmaking facility in Dubai Chinese carmaker Jetour plans to start a manufacturing unit in Dubai as a springboard to supplying the UAE and the rest of the Gulf, its head of international operations told AGBI. “The GCC is the richest region in the world, and we obviously want to take it by the storm and be the No 1 […] May 7, 2025
Renewable Energy Masdar’s Iraq solar power projects gain traction after long delays Plans by Masdar to build 1,000 megawatts (MW) of solar power parks in Iraq may now be accelerated after languishing for four years, the official Iraq news agency reported. Also known as Abu Dhabi Future Energy Company, the government-controlled company agreed in 2021 to build four plants in various parts of Iraq but no contract […] May 7, 2025
Markets Tabby and Kitopi plan IPOs but raise economic concerns Fintech company Tabby and cloud kitchen operator Kitopi are preparing to go public. However they have warned about potentially limited share allocations to international investors and Gulf economic risks linked to oil prices being at a four-year low. Dubai-based Tabby, a regional buy-now-pay-later platform, said global funds are reluctant to spend the time and energy […] May 7, 2025
