Real Estate Golden visa lure draws Turks to Dubai real estate An increasing number of Turkish citizens are investing in real estate overseas, with Dubai and Greece emerging as top destinations, according to a news report. Last year, Turks spent more than $2.5 billion, up 21 percent year on year, in foreign property purchases, Daily Sabah newspaper reported, citing central bank data. In January 2025 alone, […] April 1, 2025
Artificial Intelligence UAE-backed Cerebras passes US security check before IPO Cerebras Systems has cleared a US government review into its ties to the UAE’s G42, a spokesperson for the US artificial intelligence company told AGBI on Monday. The positive conclusion of the probe by the Committee on Foreign Investment in the United States (CFIUS) is expected to pave the way for the California-based company’s long-awaited […] April 1, 2025
Finance IHC invests in Indian snack maker Haldiram’s Abu Dhabi conglomerate International Holding Company (IHC), New York-based Alpha Wave Global and Singapore sovereign wealth fund Temasek have invested in an Indian snack maker as part of an equity financing round, PwC, the financial advisor to the deal, said in a statement. Indian government-owned Press Trust of India (PTI) reported that IHC and Alpha Wave collectively acquired […] April 1, 2025
Economy Trump to visit Saudi Arabia, UAE and Qatar by May US President Donald Trump said on Monday he plans to visit Saudi Arabia as early as May to sign an investment agreement in what will be the first foreign trip of his second term, with stops also planned in Qatar and the UAE. “It could be next month, maybe a little later,” Trump told reporters […] April 1, 2025
Lifestyle Shisha smokers turn to healthier alternatives In the same way that non-alcoholic drinks are now a regular feature in restaurants and bars in the UAE, hookah smokers are increasingly turning to healthier substitutes to satisfy their shisha fix. “People are seeking alternatives that are better for their health yet do not impact lifestyle choices,” said Naim Madaad, a founding member of […] March 31, 2025
Oil & Gas Uganda signs deal with UAE company over oil refinery Uganda signed an oil refinery agreement with UAE-based Alpha MBM Investments on Saturday, for a 60 percent stake in a crude oil refinery in Kabaale, Hoima district. The country’s state-run Uganda National Oil Company will retain the remaining 40 percent stake in the 60,000-barrel-per-day refinery, according to a statement from President Yoweri Museveni office. Besides […] March 31, 2025
Transport China’s Baidu to launch robotaxis in UAE Chinese tech company Baidu, which is listed on the US Nasdaq stock exchange, is planning to launch an autonomous ride-hailing service in the UAE by the end of 2025, according to a statement. Apollo Go, a Baidu unit, has signed an agreement with Dubai’s Roads and Transport Authority (RTA) to start autonomous driving testing and […] March 31, 2025
Finance Assets at Kushner’s Affinity soar after Gulf cash injection Assets under management at Jared Kushner’s investment company Affinity Partners jumped 60 percent last year to $4.8 billion, according to a regulatory filing. The company received a cash injection from Middle East investors, including Qatar’s sovereign wealth fund. Kushner, son-in-law of US President Donald Trump, launched the investment firm in 2021 after leaving the White House […] March 31, 2025
Economy Abu Dhabi economy grew 4% to $327bn in 2024 The non-oil sector has pushed Abu Dhabi’s economic growth to a new high. Real GDP in the the UAE’s largest and most wealthy emirate expanded by 4 percent year on year in 2024, reaching AED1.2 trillion ($327 billion), state-run Wam news agency reported. The growth was driven by an annualised 6 percent increase in the […] March 31, 2025
Real Estate Foreign buyers fuel Abu Dhabi real estate growth Increased interest from international buyers is helping to fuel the growth of Abu Dhabi’s real estate market. Aldar Properties, Abu Dhabi’s largest real estate developer, reported a sales increase of 20 percent in 2024, with much of this growth down to foreign buyers, the company’s CEO says . Aldar’s value of sales to foreigners residing […] March 28, 2025
Markets Masdar IPO could help accelerate Gulf’s energy transition An initial public offering by Abu Dhabi’s Masdar could mark a pivotal moment in the move towards cleaner sources of power in not only the world’s largest oil-producing region, but also in Europe, industry observers say. Masdar, more officially known as the Abu Dhabi Future Energy Co, is considering an IPO next year to fund […] March 28, 2025
Real Estate Emaar’s overseas units struggle to match home gains Dubai real estate developer Emaar Properties is doing well at home but its international operations – notably in India – are more chequered. Last year, Emaar posted a near 50 percent increase in earnings to AED5 billion ($1.4 billion). Its shares on the Dubai Financial Market are up 5.5 percent so far this year. By […] March 28, 2025
Oil & Gas Adnoc’s XRG seals a 10% stake in African gas projects XRG, the low-carbon energy and chemicals investment arm of Abu Dhabi National Oil Company (Adnoc), has completed its acquisition of a 10 percent stake from Portugal’s Galp Energia in the Rovuma basin concession in Mozambique. The Rovuma basin, one of the largest gas discoveries in the past 15 years, offers XRG access to liquefied natural […] March 28, 2025
Real Estate Mubadala puts more money in US commercial lender Abu Dhabi’s Mubadala Investment Company has increased its investment in 3650 Capital, a US commercial real estate lender. The UAE sovereign fund and California State Teachers’ Retirement System (CalSTRS), a pension fund, two existing investors, have invested $215 million to allow the US lender to broaden its investment products, 3650 Capital said in a statement. […] March 28, 2025
Analysis Tourism Demand for luxury keeps Dubai hotel openings upscale Dubai’s traditional love of luxury hotels shows no signs of slowing. Five-star hotel openings dominated the sector in 2024, although industry experts insist mid-range and budget segments remain vital to the emirate’s long-term hospitality growth. Last year, nearly two-thirds of new hotel rooms added in 2024 were in the luxury and upper upscale segments, according […] March 27, 2025
Opinion Media & Advertising Why we launched The Crypto Radio in Dubai – and what we’ve learned Our thinking remained that Dubai was still the perfect place for The Crypto Radio's main hub March 27, 2025
Real Estate Tabreed explores buying Multiply’s cooling business National Central Cooling Company, also known as Tabreed, is exploring a bid for Multiply Group’s district cooling business that could be worth at least $1 billion, two sources with knowledge of the matter told Reuters. Dubai-listed Tabreed is working with Citi on the potential offer for Multiply’s PAL Cooling Holding (PCH), said the two sources. […] March 27, 2025
Tech MGX buys stake in Dubai’s Khazna Data Centers UAE technology investment company MGX and US private equity company Silver Lake have bought a minority stake in Dubai-based Khazna Data Centers. Following the deal, UAE telecommunications company e& – formerly known as Etisalat – has exited from its investment in Khazna but remains a major business partner, Khazna said in a statement. Transaction and financial […] March 27, 2025
Construction Drake & Scull swings to $1bn profit post-restructuring Drake & Scull International turned a profit last year following the completion of its restructuring plan. The contracting company, which trades on the Dubai Financial Market, swung to a net profit of AED4 billion ($1 billion) last year, compared to a net loss of AED367 million in 2023. Revenue marked a 20 percent rise to […] March 27, 2025
Finance UAE’s $1.4trn US pledge is political positioning, experts say The UAE’s pledge to invest $1.4 trillion in the US over the next 10 years is about political positioning rather than exact numbers, according to experts. The country committed to a 10-year $1.4 trillion investment in AI infrastructure, semiconductors, energy and American manufacturing during a meeting in Washington last week, according to a White House announcement. […] March 27, 2025
