Health Abu Dhabi launches AI tender to predict epidemic threats The Abu Dhabi Public Health Center has launched a tender for an artificial intelligence-powered platform designed to predict epidemic threats. The aim is for the platform to use AI’s ability to process extensive and complex datasets at high speed as a way to analyse both local and international outbreak trends alongside national travel patterns to […] July 15, 2024
Economy Sheikhs Hamdan and Abdullah named UAE deputy PMs Dubai crown prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum and Sheikh Abdullah bin Zayed Al Nahyan have been named deputy prime ministers in a major UAE cabinet reshuffle. Sheikh Hamdan will also serve as the defence minister, while Sheikh Abdullah will continue as minister of foreign affairs, the UAE state-run Wam news agency […] July 15, 2024
Economy Sharjah to quadruple FDI to $10bn Sharjah is aiming to quadruple the level of foreign direct investment into the emirate over the next five years. The third largest of the seven emirates in the UAE, behind Dubai and Abu Dhabi, Sharjah reported a 140 percent jump in FDI between 2022 and 2023, to $2.75 billion, with 19 new greenfield projects launched. […] July 14, 2024
Transport Etihad passenger traffic soars 40% with new routes Etihad Airways recorded a nearly 40 percent year-on-year jump in passenger traffic in the first half of 2024 due to an increase in the number of routes it serviced and aircraft in operation. The airline carried 8.7 million passengers in the first six months, compared to 6.3 million a year earlier. “As of June 2024, […] July 14, 2024
Finance ADGM sets deadline for whistleblowing rules Companies in the Abu Dhabi Global Market (ADGM) have been given a deadline of May 2025 to implement the latest whistleblowing regulations. The financial authority has published its new whistleblowing framework to ‘maintain transparency, accountability and market integrity’. The framework includes regulations on reporting of protected disclosures, allowing reporting of suspected breaches of ADGM legislation […] July 12, 2024
Video length: 04:28 VIDEO Trade UK investors need to ‘change mindset’ on UAE economy The possibility of a free trade agreement between the UK and the GCC – worth as much as £1.6 billion ($2 billion) a year – should prompt UK investors to reconsider their preconceptions about the economic approach of the UAE and its fellow members of the Gulf bloc. Bradley Jones from the UK-UAE Business Council […] July 12, 2024
Sustainability Fertiglobe to supply renewable ammonia to Europe Abu Dhabi-listed fertiliser maker Fertiglobe has won the first global bid to supply renewable ammonia to the European Union (EU) as the trade bloc ramps up decarbonisation efforts. The company, a partnership between UAE oil giant Adnoc and Netherlands-based OCI, will supply 19,500 tonnes of renewable ammonia in 2027, with volumes potentially rising to 397,000 tonnes by 2033 […] July 12, 2024
Construction Emaar restores 4,500 homes for free after April floods Emaar Properties, Dubai’s largest developer, has repaired more than 4,500 homes up to the end of June following the orders of the emirate’s Crown Prince to restore communities devastated by the April floods. The repairs were done free of cost to owners, the developer said in a statement. No other details were given on the […] July 12, 2024
Logistics Dubai veg market to double despite warehouse shortage Dubai plans a massive expansion of its fruit and vegetable market to make it the world’s largest, despite the fact warehouse rents in the emirate keep increasing amid a lack of quality supply. On Wednesday Sheikh Mohammed bin Rashid Al Maktoum oversaw the signing of a deal between Dubai Municipality and ports operator DP World […] July 11, 2024
Renewable Energy Masdar-backed UK wind farm clears further hurdle An Abu Dhabi-backed offshore wind farm project in the UK has taken a big step forward after a development consent order application was accepted into examination by UK planning inspectors. The Dogger Bank South wind farm, more than 100km off the northeastern coast of England, is split across two sites, DBS East and DBS West. […] July 11, 2024
EXCLUSIVE Artificial Intelligence AI regulations double investment costs, says Mashreq Bank Differing rules surrounding artificial intelligence and the lack of a global regulatory environment is doubling the cost of new investments and complicating business expansion, a leading UAE financial institution has revealed. Amith Rajan, executive vice-president at Mashreq Bank, told AGBI that a “patchwork” AI regulatory landscape has prevented the bank from entering some countries, and […] July 11, 2024
Banking and Finance FAB rules out bid for stake in India’s Yes Bank First Abu Dhabi Bank (FAB) has denied it was planning to acquire a stake in Bombay Stock Exchange-listed Yes Bank. Bloomberg reported on Wednesday that the Abu Dhabi-listed lender was among the possible suitors for a $5 billion stake in the Indian lender, citing informed sources. FAB was reportedly considering an offer for up to […] July 11, 2024
Oil & Gas Four companies to invest in Adnoc’s new LNG plant Four global companies will invest in Adnoc’s lower-carbon intensity Ruwais liquefied natural gas (LNG) project, as the UAE energy giant continues to invest in lower-carbon projects. UK-based BP and Shell, France’s TotalEnergies and Mitsui & Company from Japan will each acquire a 10 percent equity stake in the Ruwais LNG project, with the state-run oil […] July 11, 2024
Video length: 03:25 VIDEO Development Dubai Humanitarian and the Mena aid challenge The Mena region requires nearly $14 billion in humanitarian aid, according to the UN. Dubai Humanitarian, formerly known as International Humanitarian City, plays a vital role in bringing together aid organisations and mobilising both funds and relief to countries affected by conflicts and climate emergencies. Dubai Humanitarian sends 1,300 dispatches of aid worth up to […] July 10, 2024
Finance Mubadala-backed Shein to invest $271m in Europe Chinese fashion retailer Shein, backed by the UAE’s Mubadala sovereign wealth fund, will invest €250 million ($271 million) over the next five years in the UK and Europe to expand its online business. The company has allocated €50 million for potential investments in research and development or pilot production facilities in Europe or the UK. […] July 10, 2024
Analysis Health Affordable healthcare in the GCC: a prescription for profit The GCC’s affordable healthcare market is ripe for investment, research suggests, as patients are forced to travel to India, Thailand or Egypt to find cheap treatment. Low-income inhabitants make up about 38 percent of the Gulf’s total population, according to Mansoor Ahmed, executive director for healthcare at Colliers Middle East in Dubai. The proportion ranges […] July 10, 2024
Aviation Dubai entrepreneurs draw closer to launching Air Kerala Two Dubai-based businessmen are on the verge of launching Air Kerala, an ultra low-cost carrier in the Indian state, with long-term plans to offer flights to the Gulf. The venture by Afi Ahmed, chairman of the travel company Smart Travels, and Ayub Kallada, chairman and managing director of Kallada Food Industries, made progress this week […] July 9, 2024
Analysis Economy UAE economic growth brings rise in court disputes, say lawyers Debt recovery cases in Dubai and the wider UAE are increasing, a pair of local law firms told AGBI, citing anecdotal evidence from their practices. Behind the trend, they said, are various factors, chief among them being the influx into the emirates of new businesses from around the world. Also contributing are a host of […] July 9, 2024
Health Heat-health warning system planned for Abu Dhabi Abu Dhabi is to develop an official heat-stress index and a national heat-health warning system as rising temperatures threaten public health and businesses. The Abu Dhabi Public Health Centre has issued a tender for an index tailored to the UAE’s unique climate conditions, occupational settings, and the physiological differences among its diverse population. The UAE […] July 9, 2024
Finance ADIA among funds investing $60bn in Indian stocks Two sovereign wealth funds from the GCC and one from Singapore have invested a total of Rs5 trillion ($60 billion) in the Indian stock markets and startups as of March 31, 2024, a news report said. These investors include Abu Dhabi Investment Authority (ADIA), Kuwait Investment Authority and GIC Holdings Pte, Mint, an Indian financial newspaper, […] July 9, 2024
