Finance UAE companies raise prices for a second month Companies in the UAE raised prices for a second consecutive month in February as they passed on higher input costs for materials, maintenance and technology. It was also the biggest price increase since September. Staffing costs also rose, adding to the price rises, according to S&P’s purchasing managers’ index (PMI), a monthly survey of economic […] March 5, 2025
Analysis Banking and Finance Mashreq and First Abu Dhabi winning bank efficiency race Dubai’s Mashreq bank, the UAE’s fifth-largest by assets, slashed its cost-to-income ratio, an important banking metric, last year thanks to the partial sale of a subsidiary and more customers switching to non-interest-bearing accounts. The cost-to-income ratio shows the relation between income and the cost of acquiring that income. A declining ratio suggests that a bank […] March 5, 2025
Aviation Airbus weighs production of military aircraft parts in UAE European planemaker Airbus is exploring the possibility of manufacturing components and setting up a maintenance facility for the A400M, a military transport aircraft, in the UAE. The plan includes integrating local entities – including EPI, part of defence company Edge Group, and Strata, a subsidiary of Abu Dhabi investment vehicle Mubadala – into the A400M’s global aerospace […] March 5, 2025
Aviation Etihad Airways delays $1bn IPO launch to next month Abu Dhabi’s Etihad Airways will push back its planned $1 billion initial public offering (IPO) until at least next month, after the Eid Al Fitr holiday, two people with knowledge of the matter said. Etihad had not officially announced a date for its IPO, but sources had told Reuters that the airline would make an announcement […] March 5, 2025
Manufacturing China’s BYD makes mark on UAE supercar market BYD Group, China’s largest electric vehicle maker, is taking on luxury rivals in the UAE with its premium and supercar brands, marking a sharp shift from its mass market, budget-friendly origins. Other Chinese automakers are also making inroads into the UAE’s high-end segment, long dominated by European brands and typically priced above AED200,000 ($55,000) Their […] March 4, 2025
Finance UAE interest in crypto jumps after Trump’s ‘strategic reserve’ call Interest in cryptocurrencies has accelerated in the UAE after a rally in prices that followed President Donald Trump’s announcement of plans to create a so-called crypto strategic reserve. Online searches for bitcoin prices in the UAE more than doubled following Trump’s announcement on his Truth Social platform at the weekend, data from Google Trends showed. […] March 4, 2025
Aviation Falcon to invest $100m in Dubai aviation repair facility The Dubai-based aviation company Falcon will invest $100 million to upgrade its aircraft maintenance, repair and overhaul facility in Mohammed Bin Rashid Aerospace Hub, a free zone in Dubai South. The investment will be spread over the next five years, which includes building a new private jet terminal. In 2024, the company received approval from […] March 4, 2025
Petrochemicals Adnoc and OMV seal deal for $60bn chemicals JV Abu Dhabi National Oil Company (Adnoc) and Austria’s energy group OMV have agreed to merge their polyolefin operations to form a $60 billion joint venture. Borouge Group International (BGI) will be the world’s fourth largest by nameplate production capacity, the UAE company said. BGI will acquire Canada-headquartered Nova Chemicals Corporation from Abu Dhabi’s sovereign wealth fund […] March 4, 2025
Infrastructure Dubai communities to undergo $1.6bn road upgrade Dubai’s Road and Transport Authority (RTA) and Dubai Holding, a global investment conglomerate owned by Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum, will undertake major road works in five major developments to try and cut travel times by more than half. The AED6 billion ($1.6 billion) road upgrades will be carried out in Palm […] March 3, 2025
Education Gems Education plans to spend $300m on growth Dubai company Gems Education plans to spend around $300 million over the next two to three years to increase organic growth, its CEO told Reuters, as it bets on population growth and an inflow of wealthy individuals. Dubai is one of the world’s fastest-growing cities whose population has been swollen by foreigners, particularly higher-income earners, […] March 3, 2025
Video length: 07:42 Opinion Media & Advertising Why the British media is suddenly obsessed with Dubai Could a spate of reports mean yet more Brits heading to the UAE? February 28, 2025
Retail Chinese car makers target UAE’s Ramadan bargain hunters Chinese car makers look set to win big over traditional manufacturers from the US, Japan and Europe among Ramadan bargain hunters in the UAE this year. For years, Japanese, American, and European carmakers have relied on Ramadan promotions, offering free insurance, extended warranties and zero percent financing, to increase sales. But buyers, squeezed by inflation, […] February 28, 2025
Analysis Aviation Etihad IPO likely to attract ‘significant’ investor interest Abu Dhabi-owned Etihad Airways is likely to attract “significant” investor interest if and when it sells shares in an initial public offering expected in March in the first Gulf Arab airline IPO in almost 20 years, analysts have said. Owned by Abu Dhabi sovereign wealth fund ADQ, the airline may raise as much as $1 […] February 28, 2025
Transport Parkin proposes $77m dividend for second half 2024 Parkin, the Dubai government’s parking management company, plans to pay a final dividend of AED281 million ($77 million) for the second half of 2024, the company said in a statement. The dividend payout is subject to shareholders’ approval at the annual general meeting planned by March-end. An interim dividend of AED199 million was paid by […] February 28, 2025
Transport UK company plans purchase of UAE car trade start-up Seez Seez, a Dubai-based start-up, has announced its proposed acquisition by UK-based automotive technology company Pinewood AI. The deal is worth $46.2 million and will comprise cash alongside shares, the company said in a statement. Seez is a technology company that provides digital services for car dealerships aimed at increasing sales, including an AI virtual assistant, […] February 28, 2025
Analysis Markets Blue chip dividend yields in UAE beat US and Europe Most UAE blue chip stocks provide much higher dividend yields than their counterparts in Europe and the United States, an AGBI analysis shows. The top 20 largest listed UAE businesses, excluding two non-dividend paying companies, offer an average dividend yield of 4.7 percent. This is almost 60 percent better than the average yield of 1.9 […] February 28, 2025
Oil & Gas Adnoc Gas to supply LNG to Osaka Abu Dhabi’s state-owned Adnoc Gas has signed a fourth sales and purchase agreement for its Ruwais liquefied natural gas project, which is under development at Al Ruwais Industrial City. Adnoc Gas signed the 15-year contract with one of Japan’s utility companies, Osaka Gas, to supply up to 800,000 tonnes of LNG per year, Adnoc said […] February 27, 2025
Finance IHC’s $27bn holding company aims for Abu Dhabi listing 2PointZero, a newly established UAE investment platform with assets from mines to financial services, is targeting a stock market listing in Abu Dhabi this year, CEO Mariam Almheiri said on Wednesday, according to the Reuters news agency. Last year, Abu Dhabi conglomerate International Holding Company (IHC) established 2PointZero as a holding unit with more than […] February 27, 2025
Video length: 04:45 VIDEO Education Universities have to change to bridge the skills gap Education in the Mena region must transform to reflect the changing market, according to experts. Ismael Al-Hinti, president of Al Hussein Technical University in Jordan told AGBI that young people entering the jobs market in the region face a skills mismatch, with unemployment rates highest among the most educated. The answer, according to Al-Hinti, is […] February 27, 2025
Health Burjeel wins Abu Dhabi healthcare contract The UAE hospital operator Burjeel Holdings has won a contract from Abu Dhabi worth AED225 million ($61 million) to manage and develop healthcare facilities in the emirate and in Africa. Burjeel will operate five clinics in the cities of Abu Dhabi and Al Ain, and develop a new one in Al Wathba, about 20km south […] February 26, 2025
