Employment UAE labour market: Too many people, not enough jobs More people are looking for jobs in the UAE than there is work available for them, according to a labour market report from recruitment consultancy Cooper Fitch. Hiring in the second-largest Arab economy grew by less than 1.3 percent in the three months to March 31 compared with the same period last year, the report […] April 24, 2025
Aviation Dubai jet leaser wins $282m settlement in Russian case Dubai Aerospace Enterprise (DAE), the Middle East’s largest aviation leasing company, has received a $282 million cash settlement from unnamed insurers for aircraft leased to Russian Federation carriers. This latest payment brings DAE’s total insurance recovery to $601 million. With this settlement DAE and its partners have resolved all claims against the involved insurance and […] April 24, 2025
Construction RAK sets out $272m plan for ‘our version of Central Park’ Ras Al Khaimah is preparing an AED1 billion ($272 million) mixed-use masterplan to link two of its most prominent waterfront developments – Al Hamra and Al Marjan Island. The project is being led by Marjan, the master developer of freehold properties in the northern emirate, and will have its official launch later this year. “What […] April 24, 2025
Energy Gulf share of India oil market slides on Russia gains India’s pivot toward discounted Russian crude oil has accelerated, eroding the dominance of traditional Middle Eastern suppliers in one of the world’s fastest-growing oil markets. In the Indian fiscal year ending March 31, Russia retained its position as India’s top oil supplier for a third year in row, Reuters reported, based on ship tracking data […] April 23, 2025
Analysis Energy UAE and Saudi Arabia target India and EU electricity exports Saudi Arabia and the UAE are advancing plans to increase their electricity exports, taking advantage of spare generating capacity after surging investment in solar and wind power and seasonal fluctuation in demand. “The UAE, with around 50 percent spare capacity generation, is among the best-positioned countries to become an exporter of electricity,” Adnan Al Hosani, […] April 23, 2025
Retail Gold’s record run brings little joy for Dubai jewellers In the bustling Gold Souk in Dubai, dubbed the “City of Gold”, 22-karat gold jewellery is a traditional favourite for weddings, religious celebrations, and as a family investment. Yet with bullion prices hitting record highs above $3,400 an ounce, there are signs of change, as buyers opt for diamonds and lighter gold jewellery instead. While […] April 23, 2025
Tech UAE’s du and Microsoft to build $544m hyperscale data centre UAE telecom provider du and tech company Microsoft are to build a AED2 billion ($544.54 million) hyperscale data centre. The data centre will be built in stages, gradually increasing capacity to satisfy rising demand, the UAE state-run news agency Wam reported on Tuesday. The facility’s computing capabilities will be utilised by Microsoft, the main tenant, […] April 23, 2025
Economy Dubai inflation falls to its lowest in five months Dubai’s annual consumer price inflation fell in March to its lowest in five months, driven by lower transport and food costs, according to official data from Dubai Statistics Centre. The headline CPI inflation rate declined to 2.8 percent on an annual basis, from 3.2 percent in each of January and February. That is the lowest […] April 23, 2025
Utilities Foreign companies cash in as Gulf turns to smart power grids Saudi Arabia and the UAE are among the Gulf states investing billions to make their electricity grids “smart” using artificial intelligence – and increase their share of generation from solar and wind power. That share is expected to almost double in the Middle East and North Africa over the next five years. It will rise […] April 22, 2025
Banking and Finance Emirates NBD profit slips despite strong loan growth Net profit at Emirates NBD, Dubai’s biggest bank by assets, fell in the first quarter of 2025 compared to a year ago despite growth in loans and interest income. Tax paid caused the bottom line to decline more than 7 percent to AED6.2 billion ($1.7 billion) for the first three months, from AED6.7 billion a […] April 22, 2025
Oil & Gas Adnoc strikes another LNG deal with Chinese energy major China National Offshore Oil Corporation (Cnooc) has agreed a term deal to buy liquefied natural gas from Abu Dhabi National Oil Company (Adnoc), according to two Chinese trading sources and a state media report. It is the third supply contract Adnoc has signed with Chinese buyers recently, following the deals over the weekend with ENN […] April 22, 2025
Artificial Intelligence Khazna builds data centres to plug UAE capacity shortage State-controlled Khazna, the UAE’s largest data centre operator, has started building two new facilities to support the federation’s digital and artificial intelligence (AI) growth as the Gulf state grapples with a capacity shortage. Originally owned by Abu Dhabi’s Mubadala sovereign wealth fund, Khazna was in 2022 transferred to the emirate’s G42 and e&, the national […] April 22, 2025
Banking and Finance Fractional sukuk platform launched by UAE bank Sukuk investing in the Gulf has long been the preserve of institutional and wealthy investors because of a six-figure minimum investment threshold, effectively excluding ordinary people from buying sharia-compliant bonds directly. Now though, Abu Dhabi Islamic Bank (ADIB) has launched an investment platform, Smart Sukuk, on which retail investors can buy so-called fractional sukuk for […] April 22, 2025
EXCLUSIVE Real Estate Dubai Investments plans IPO before year end, says CEO Dubai Investments is preparing to sell shares in four subsidiaries to the public and may list one of them before the year end, its CEO Khalid bin Kalban has told AGBI. The government-backed company manages AED22.1 billion ($6 billion) of assets in the UAE and beyond, in sectors including real estate, construction and building materials […] April 22, 2025
Media & Advertising Dubai doubles down on social media with ‘influencer academy’ Sunsets, skyscrapers, shopping sprees. Type #Dubai into any social media platform and you will find thousands of them. Whether they’re promotional films or holiday snaps, the quality and reach of these images can vary widely. Now Dubai’s tourism authority is setting up an “influencer academy” to teach aspiring digital creators how to make the most […] April 21, 2025
Opinion Food & Drink Rising cocoa prices could dampen cravings for Dubai chocolate Climbing cocoa prices and new regulations may dent growth in the UAE's premium confectionery market April 21, 2025
Trade UAE remains Oman’s primary exporter despite increase from China The UAE maintained its position as the top exporter to nearby Oman last year despite a sharp increase in China’s exports to the sultanate, official figures show. The UAE, the second largest Arab economy and a major centre for re-exports, exported OR4 billion ($10 billion) to Oman in 2024 and accounted for almost a quarter […] April 21, 2025
Opinion Lifestyle Bubbly, Bauhaus and Blahniks – a tour of Art Dubai 2025 Over the years, I’ve refined three techniques for experiencing the joys of Art Dubai April 21, 2025
Markets Population burst bolsters Dubai’s listed companies Listed companies in Dubai were on average the most profitable last year among the Gulf exchanges as the emirate’s banking, real estate and telecom sectors benefited from its expanding population. Net profit at Dubai’s listed companies totalled $25.4 billion, up 16 percent compared with the year before, according to a report by Kuwaiti asset manager […] April 21, 2025
Trade UAE foreign trade surges but surplus falls The UAE’s foreign trade surged by nearly half between 2021 and 2024, but the trade surplus softened last year amid global challenges. Foreign trade rose to AED5.2 trillion ($1.4 trillion) in 2024, up nearly half from 2021, state-run WAM news agency reported, citing a World Trade Organisation paper. The UAE, a major re-exporter, is among […] April 21, 2025
