Media & Advertising Social media warning after UAE telemarketing crackdown The days of persistent cold calls in the UAE may be numbered, thanks to a government crackdown. However, industry experts told AGBI that the telemarketers may migrate to alternative channels such as social media platforms and WhatsApp. The Ministry of Economy and the Telecommunications and Digital Government Regulatory Authority have announced new regulations to curb […] June 11, 2024
Aviation Archer Aviation says UAE is ahead in air taxi race The UAE is winning the race to launch Archer Aviation’s flying taxis, ahead of the US, India and South Korea. The Abu Dhabi-backed electric vertical take-off and landing (eVTOL) aircraft manufacturer last week became one of only two air taxi companies in the world to receive certification as an airline from the US Federal Aviation […] June 11, 2024
Transport DP World to invest $540m in Peru and Ecuador expansion DP World is investing $540 million to expand its port operations in two Latin American countries, Peru and Ecuador. The Dubai-based global port operator is investing $400 million to increase the capacity of Callao Port terminal in Peru by 80 percent through expansion of its Bicentennial Pier. NewsletterGet the Best of AGBI delivered straight to […] June 11, 2024
Lunch with Frank Kane Aviation ‘Cut me in half, I’m still Etihad’ Over lunch in Dubai, former CEO James Hogan tells our Editor-at-Large how the “Middle East model” took over aviation – and what really happened at Etihad June 11, 2024
Analysis Health Wearable tech shoppers track price as well as health Gulf consumers who are interested in wearable tech – smart watches, rings, glasses and implants – are opting for mid-range gadgets rather than premium devices, industry experts have told AGBI. Dubai retailer Jumbo Electronics reported 50 percent year-on-year growth in the AED600-1,000 (about $163-$272) price segment in the first four months of 2024. The AED1,000-1,500 […] June 10, 2024
Tech UAE-Czech telecom deal set to close by year end despite EU probe UAE telecom company e&, formerly known as Etisalat, expects to close the acquisition of Czech PPF Group’s telecoms business in four countries before year-end, despite confirmation that the European Commission is to investigate the deal. In August 2023, the telecom company signed a binding agreement with PPF Group to acquire a 50 percent plus 1 […] June 10, 2024
Tech Yahsat appoints Airbus to build $1.1bn new satellites Al Yah Satellite Communications Company, known as Yahsat, has appointed a unit of US-headquartered Airbus Group to manufacture its two new geostationary telecommunications satellites. The company initially authorised Airbus Defence and Space to commence activities on the Al Yah 4 (AY4) and Al Yah 5 (AY5) satellite programme in the second quarter of 2023. NewsletterGet the Best […] June 10, 2024
Construction Foreigners invest $495m in Abu Dhabi property market Foreign direct investment into Abu Dhabi’s real estate market reached AED1.81 billion ($495 million) in the first quarter of 2024, official data shows. The investment was made by 487 individuals, primarily from India, Russia, Canada, the UK, Jordan and China, the UAE state-run Wam news agency reported, quoting Abu Dhabi Real Estate Centre, the real […] June 10, 2024
Opinion Energy Booming Baku gears up for critical Cop29 Azerbaijan faces all the challenges the UAE overcame at Cop28 – and some more June 7, 2024
Analysis Finance UAE car insurers boycott Teslas over high repair costs Insurance companies are refusing to offer fully comprehensive insurance cover for Tesla electric vehicles in the UAE because of the huge cost of repairs, a lack of repair expertise and an increased number of accidents. “The repair invoice for Tesla is almost three times as much as an average car,” said Issam Mouslimani, goodwill ambassador […] June 7, 2024
Finance Drake & Scull wins $10m appeal in Dubai court Drake & Scull International (DSI) has won an appeal to receive compensation worth AED36.7 million ($9.99 million) from a major company in Dubai. The compensation includes bank guarantees, the Dubai Financial Market-listed construction company said on Thursday. In addition, it will receive fees, interest and expenses in the case as per the judgement by Dubai […] June 7, 2024
Economy Abu Dhabi launches unified economic licences Abu Dhabi has unified procedures for registering economic licences across the emirate and its free zones, in a bid to make it simpler to set up a business and increase non-oil trade. The unified economic license is an initiative by Abu Dhabi Department of Economic Development (Added) and Abu Dhabi Free Zones Council. The new […] June 7, 2024
Food & Drink Mubadala-backed Zamp buys Starbucks brand in Brazil Zamp, a Brazilian restaurant chain backed by Abu Dhabi sovereign fund Mubadala, has signed a deal to buy the Starbucks brand in the South American nation. The operator of Burger King and Popeyes stores in Brazil, Zamp signed an agreement with bankruptcy-hit SouthRock Group to acquire certain assets and rights of the Starbucks brand for 120 […] June 7, 2024
Analysis Construction Gulf construction sector rethinks contract terms as costs rise The Gulf’s construction industry is rethinking the developer-contractor relationship, and procurement and supply chain management, to stay ahead of rising prices of materials and transport bottlenecks as a result of geopolitical volatility. “We are in a part of the world that is very conducive to finding alternatives,” Imad Itani, head of innovation at the Dubai […] June 7, 2024
Renewable Energy Clean energy spend rising but fossil fuels still dominate Investment in clean energy is rising in the Middle East but spending on hydrocarbon production still dominates, the International Energy Agency (IEA) has said. In its World Energy Investment report published on Thursday, the Paris-based watchdog said that for every $1 invested in fossil fuels in the region, only 20 cents was allocated to clean […] June 6, 2024
Education Alef Education IPO 39 times oversubscribed Orders totalling more than $20 billion were placed at the IPO of Abu Dhabi’s Alef Education this week, leaving it 39 times over-subscribed. The company raised AED1.9 billion ($515 million) in its initial public offering, the company said on Thursday. It will become the first education technology business to list on a UAE stock exchange. […] June 6, 2024
Aviation Etihad and China Eastern forge new network alliance Etihad Airways and China Eastern Airlines have agreed to expand connectivity between the UAE and China. The UAE national airline and the Shanghai-based carrier signed a joint venture agreement – the first commercial one between a Middle Eastern airline and a Chinese airline – to jointly develop the routes. The move will broaden the network […] June 6, 2024
Real Estate Eagle Hills launches $1.5bn golf resort in Baghdad UAE developer Eagle Hills has revealed plans to build a mega mixed-use development in Iraq’s capital city. Abu Dhabi-based Eagle Hills has acquired land to develop the $1.5 billion Baghdad Golf Course and Spa, including an international golf course, high-end residential buildings, a five-star hotel and a resort club. “Baghdad is a city with a […] June 6, 2024
Tourism UAE in top 10 global tourism earners UAE tourism revenues reached nearly $52 billion in 2023, catapulting the Gulf state up seven places to sixth position on the list of top 10 global tourism earners, a new UN report reveals. The United States is the top earner in the latest UN world tourism barometer, with $176 billion last year, followed by Spain […] June 5, 2024
Video length: 07:12 Analysis Leisure & Hospitality UAE hotel rebrandings a sign of discontent in the sector Growing discontent among UAE hotel owners about the treatment they are receiving from operators has resulted in a wave of hospitality rebrandings. More than a dozen major hotels across the UAE have been reflagged in the past year. Emirati, Spanish and Chinese hotel brands have also disclosed plans to pursue the same strategy as part […] June 5, 2024
