Banking and Finance Emirates NBD gets nod to set up Indian subsidiary India’s central bank has given an “in-principle” approval to Emirates NBD Bank, Dubai’s biggest bank by assets, to set up a wholly owned subsidiary in India. The Dubai-listed lender currently offers banking services through branches in Chennai, Gurugram and Mumbai, the Reserve Bank of India (RBI) said in a statement. The approval allows Emirates NBD […] May 20, 2025
Opinion Finance How the UAE can build the world’s most modern pension system Reforms offer portability, tech integration and equity for expatriates May 19, 2025
Markets Dubai Holding ups REIT offering on high demand Dubai Holding, an investment vehicle of the emirate’s government, has increased the offering size of its residential real estate investment trust (REIT) on the local market following high demand from local and global investors. The offering now stands at 1.95 billion units compared to the earlier 1.63 billion units, increasing the floating to 15 percent […] May 19, 2025
Industry EGA to build first US aluminium smelter in 45 years Emirates Global Aluminium (EGA), which says it is responsible for 4 percent of global output, plans to start building a primary aluminium production plant in the US by the end of 2026. The $4 billion smelter, the first to be built in the US since 1980, is expected to have a capacity of 600,000 tonnes […] May 19, 2025
Energy Masdar in talks to develop energy storage in Italy Italy’s Enel and Abu Dhabi’s Masdar have begun talks over jointly developing energy storage capacity in Italy, Flavio Cattaneo, the CEO of Italy’s biggest utility, said on Friday. The companies already have a partnership for a portfolio of renewable energy assets in Spain and are exploring options to extend their alliance to more countries, Cattaneo […] May 19, 2025
Opinion Trade Trump’s Gulf visit was grand – but the real test starts now Pledges and deals may change when reality hits May 18, 2025
Transport UAE passenger train service to start operations next year Etihad Rail, the UAE’s national rail project, will start its first passenger service next year. The announcement was made during the visit of Sheikh Hamdan bin Zayed Al Nahyan, the ruler’s representative in Al Dhafra Region, the rail operator said in a post on social messaging platform X (formerly Twitter). The passenger rail service will […] May 16, 2025
Artificial Intelligence Italy and UAE announce deal on AI centre Italy and the United Arab Emirates have agreed to develop an artificial intelligence centre in Italy, industry minister Adolfo Urso said on Friday. Abu Dhabi-based AI group G42 has entered into a partnership with Italian company iGenius to build “the largest AI computing infrastructure in Europe”, Urso’s ministry said in a statement. G42 will be […] May 16, 2025
Energy Adnoc says UAE and US to invest $440bn in energy The UAE and US will spend a combined total of $440 billion in the energy sector by 2035, the head of Abu Dhabi National Oil Company (Adnoc) has said. The US is expected to invest $60 billion in UAE energy projects, a panel at the UAE-US economic dialogue said during US President Donald Trump’s visit […] May 16, 2025
Analysis Aviation Flydubai CEO says demand exists to quadruple India flights Flydubai believes it has the capacity to quadruple its flights to India, saying the demand is there. However, Delhi’s protectionist aviation policies remain a stumbling block to the Gulf’s biggest low-cost carrier by fleet size, as well as other UAE airlines. Flydubai currently operates 30 flights a week from Dubai to eight Indian cities. “India […] May 16, 2025
Energy Adnoc seeks EU approval for Covestro deal Abu Dhabi state oil company Adnoc on Thursday sought EU approval under the bloc’s foreign subsidies rules for its €14.7 billion ($16.4 billion) acquisition of German chemicals company Covestro, according to a filing on the European Commission site. Adnoc, which last week won the green light under EU merger rules for the deal, is making its biggest […] May 16, 2025
Artificial Intelligence UAE and US to build largest AI campus outside America The US and UAE will develop a 10 square mile artificial intelligence campus in Abu Dhabi, according to a White House statement on Thursday. It will be the largest such facility outside of America. The announcement came as US President Donald Trump met UAE President Sheikh Mohamed bin Zayed Al Nahyan at the Qasr Al […] May 16, 2025
Aviation Etihad Airways commits $15bn for 28 Boeing jets Etihad Airways has invested $14.5 billion in 28 Boeing aircraft. Since 2023, the UAE’s national airline has grown its fleet as part of a long-term strategy to double in size by 2030. The agreement includes a mix of Boeing 787 and 777X aircraft, powered by GE Aerospace engines and supported by a services package, […] May 16, 2025
Logistics DP World to invest $800m to develop port in Syria Dubai’s DP World and the Syrian government have signed a memorandum of understanding worth $800 million to develop Syria’s port of Tartous, Syrian state news agency Sana said on Friday, after the lifting of US sanctions cleared the way for the deal. The deal is to develop, manage and operate a multi-purpose terminal at Tartous […] May 16, 2025
Aviation Emirates in talks with Musk’s SpaceX for in-flight WiFi Emirates airline is reportedly in talks with Elon Musk’s SpaceX to offer in-flight WiFi services. The Dubai carrier aims to offer Starlink service on its widebody fleet, Bloomberg reported, citing unnamed sources. Starlink is a low-orbit satellite network offering high-speed broadband services, particularly in areas with limited internet connectivity. Emirates has 250 aircraft and has placed orders […] May 16, 2025
Markets Arabian Construction Company hires banks for IPO Arabian Construction Company (ACC), a family-owned business in Abu Dhabi, has reportedly picked local and global banks for its proposed initial public offering. First Abu Dhabi Bank and HSBC will advise the company on its domestic listing, Bloomberg reported. The listing is expected to take place in the second half of the year, sources said. In […] May 16, 2025
Tech US and UAE agree tech plan as Trump lands in Abu Dhabi US and Emirati officials agreed a framework to enhance exchanges in advanced technology as Donald Trump arrived in Abu Dhabi on Thursday evening on the third and final leg of his tour of the Gulf. The deal includes commitments from both sides to ensure the shared technology is handled securely, Reuters reported, citing an unnamed […] May 15, 2025
Exclusive Manufacturing Why Emsteel is not worried about rising Chinese imports UAE steel and building material company Emsteel expects demand for its products to grow 10 percent this year, paced by multi-billion-dollar infrastructure projects and real estate developments, its CEO said. That could offset a challenge from surging imports from China and declining world prices. The Abu Dhabi-based company has increased production capacity to meet demand […] May 15, 2025
Oil & Gas Taqa profit falls as oil and gas earnings take a hit Abu Dhabi National Energy Company (Taqa) said earnings fell in the first quarter of 2025 amid commodity market volatility and a fall in oil and gas production. Net profit declined by 1.5 percent year on year to AED2 billion ($572 million) in the quarter ended March 31, 2025, the company said in a statement to the […] May 15, 2025
Opinion Tourism Mickey Mouse meets the Middle East in Abu Dhabi The UAE's new Disney park will increase consumer spending across the emirate May 15, 2025
