Analysis Real Estate UAE property developers bank on huge order backlogs The UAE’s largest property developers are likely to post rising profits in the coming quarters as under-construction projects reach new milestones. This will enable them to book revenue from their vast order backlogs, analysts predict. Most listed developers reported big year-on-year increases in first-quarter profits. Emaar Properties’ Q1 profit rose 27 percent to just over […] May 29, 2025
Exclusive Health Globalpharma seeks early lead in race for Ozempic alternatives Globalpharma, which is a wholly owned subsidiary of Dubai Investments, is laying the groundwork to manufacture generic versions of blockbuster drugs such as Ozempic, positioning itself ahead of potential patent expiries and shifting regulatory frameworks. The UAE drugmaker is exploring partnerships to develop peptide-based injectables using off-patent precursors – drug ingredients that are no longer […] May 29, 2025
Banking and Finance UAE firms approach Italy to buy UniCredit’s Russia business Three companies based in the UAE have approached the Italian Treasury with a proposal to buy the Russian operations of UniCredit at a steep discount, a document seen by Reuters showed. UniCredit is under pressure both from the European Central Bank and Italy’s government to quit Russia, where it runs a commercial lender. It has so […] May 28, 2025
Aviation Dubai Aerospace to sell 75 aircraft to realign portfolio Dubai Aerospace Enterprise (DAE), the Middle East’s largest aviation leasing and engineering company, has agreed to sell 75 aircraft to two unnamed buyers as part of its plan to realign its fleet. A portfolio of 50 Embraer E-Jets will be sold to a specialist lessor, DAE said in a statement on Wednesday. Another 25 out-of-production […] May 28, 2025
Real Estate Dubai Residential REIT takes off on bourse debut Dubai Residential REIT surged on its bourse debut on Wednesday as investors who missed out on its $584 million initial public offering (IPO) bought the stock. The success is being seen as an indication of enduring confidence in the emirate’s buoyant property sector. A real estate investment trust (REIT) owns or finances income-generating property, enabling […] May 28, 2025
Analysis Tourism UAE hotels hit by talent crunch as growth outpaces staffing UAE hoteliers are warning of an intensifying shortage of qualified staff as the country’s tourism sector expands. About 809,000 people were employed in hospitality and tourism in the Emirates in 2023 – more than 12 percent of the workforce, according to the latest government data. But relatively high staff turnover and limited investment in training […] May 28, 2025
Analysis Transport Etihad Rail’s super-fast service tracked by investors The UAE’s Etihad Rail is due to start passenger services next year, promising to slash travel time between Dubai and Abu Dhabi by as much as 40 percent. Not only could this reshape the daily commute but it could also shift the investment outlook for a clutch of transport-focused companies listed on local bourses. With […] May 28, 2025
Oil & Gas UAE warns Opec over AI-driven power demand The UAE is preparing for a sharp spike in domestic energy consumption as a wave of data centre construction drives up demand for power. Energy minister Suhail Mohamed Al Mazrouei has warned Opec and its oil-producing allies of potential pressure on future global supplies. His warning is at odds with other industry bodies, such as […] May 27, 2025
Renewable Energy UAE fund targets US renewables as Trump rolls back incentives A $30 billion UAE climate fund is ready to increase investment in US renewables as Republicans move to unwind parts of Joe Biden’s signature climate legislation. Majid Al Suwaidi, CEO of Altérra, the world’s largest private climate investment platform, said it was prepared to fill the gap wherever US federal incentives for clean energy are […] May 27, 2025
Transport Neom-backed Pony.ai to launch robotaxis in Dubai Pony.ai, a Chinese autonomous driving company, will begin trials of its advanced robotaxi fleet in Dubai this year, the company said in a statement. The US Nasdaq stock exchange-listed company, which is backed by an investment arm of Saudi giga-project Neom, has signed a memorandum of understanding with Dubai’s Roads and Transport Authority (RTA) to introduce autonomous transport. […] May 27, 2025
Utilities Abu Dhabi’s Taqa focuses on US market Abu Dhabi National Energy Company, or Taqa, is exploring buying companies in the US and elsewhere, its chief executive told Reuters. The state-owned utility is continuing its international expansion and is striving to reach ambitious growth targets. “The US is a key market for us,” and “if the right opportunity presents itself for Taqa, we […] May 27, 2025
Industry UK’s Wood wins contract for UAE’s first methanol facility UK-based engineering company Wood Group has been awarded a project management consultancy contract for the UAE’s first methanol production facility, the British company said in a statement. The contract was awarded by Ta’ziz, a joint venture between Abu Dhabi National Oil Company (Adnoc) and state-owned Abu Dhabi Developmental Holding Company (ADQ). Construction of the plant, in […] May 27, 2025
Finance Tighter Dubai rules tipped to drive crypto market expansion Fresh digital asset regulations in the UAE may encourage further tokenisation and the rollout of more complex cryptocurrency products, analysts have said. Tokenisation is the creation and trade of digital tokens that are backed by real-world assets – such as real estate, gold or art — on a blockchain. It enables direct and verifiable peer-to-peer […] May 26, 2025
Tech Qatar-backed Builder.ai collapses with sales in doubt A British technology startup funded by the Qatar Investment Authority (QIA) has collapsed after an internal investigation identified potentially bogus sales. In 2023 the QIA sovereign wealth fund led a $250 million late-stage funding round for Builder.ai and, together with Microsoft, was one of its biggest investors. The company raised more than $450 million over its […] May 23, 2025
Tech Stargate UAE data centre to come online in 2026 The first phase of a massive new data centre agreed during Donald Trump’s visit to the UAE will come online in 2026. Stargate UAE is planned to be a 1 gigawatt data centre cluster capable of training AI models. The project is a collaboration between UAE-backed G42, ChatGPT creators OpenAI, Oracle, Nvidia, Softbank Group and […] May 23, 2025
Finance Abu Dhabi VC EQIQ to increase Iraq tech investments Abu Dhabi technology-focused venture capital fund EQIQ says it plans to increase the value of its investments in Iraq as the country seeks to recover from more than four decades of war and economic sanctions. Last year, tech startups in Iraq raised less than $3 million in 10 deals, according to entrepreneurship ecosystem development platform […] May 23, 2025
Markets At 17-year highs, Dubai stocks outshine Gulf rivals Dubai’s stock index hit fresh 17-year highs this week, as first-quarter earnings rose and a buoyant non-oil economy convinced investors to favour UAE stocks over the much larger Saudi market. Gulf markets, like bourses worldwide, tumbled in early April after President Donald Trump imposed sweeping tariffs on imports to the US. In contrast to the […] May 23, 2025
Opinion Energy Gulf welcomes Trump’s hands-off approach to energy policy Trillions were pledged in AI and energy, but Opec stayed out of the spotlight May 22, 2025
Health Abu Dhabi seeks bids for studies of indoor air quality Abu Dhabi is seeking proposals from research companies, consultancies and academic institutions to study the health impact of indoor air pollution, as the emirate plans to draft new evidence-based public health policies. The Abu Dhabi Public Health Center has invited bids to develop research to quantify the health burden of indoor air pollution and propose […] May 22, 2025
Opinion Trade Trump in the Gulf: There’s substance behind the hype Was it all just for show? The investment agreements 'signed' during the trip are clearly ludicrous May 22, 2025
