Opinion Finance A Labour government should not frighten the horses The UK general election is likely to mean changes, but Gulf citizens need not be too worried May 27, 2024
Lifestyle Russians rush from Turkey as costs and restrictions bite Rising costs, increased difficulties in obtaining residency permits and tighter enforcement of restrictions on the number of foreign nationals who can live in popular regions are prompting an exodus of Russian citizens from Turkey. The number of Russian nationals holding Turkish residence permits has plunged to just over 96,000 as of May 16, down from […] May 24, 2024
Opinion Trade The next UK government must prioritise a GCC trade deal With an impending election, government-to-government relations are critical May 24, 2024
Opinion Business of Sport Marseille ticks boxes for Saudi’s next football foray Reports suggest the kingdom is keen to add the French club to its growing sports portfolio May 24, 2024
Trade Austrian finance unicorn to open in UAE Austria’s first unicorn has announced plans to set up in Dubai, as officials from the UAE hold top-level talks in Vienna to build on a 22 percent increase in bilateral trade last year A unicorn is a startup company valued at more than $1 billion that is privately owned and not listed on a share […] May 24, 2024
Video length: 3:39 VIDEO Health UAE diabetics face Ozempic shortage due to weight-loss users The manufacturer of Ozempic is “troubled” by the fact the drug, which was designed to help people with diabetes, is in short supply in the UAE because of the high number of consumers using it for its weight loss side-effects. Danish pharmaceutical company Novo Nordisk introduced Wegovy, a drug meant to specifically tackle obesity, to […] May 24, 2024
Analysis Real Estate UAE offices in demand – in contrast to the West Offices in the UAE are outperforming Western equivalents, with a steady influx of foreign businesses and local developers’ preference for residential projects. “The need for more Grade A office space is becoming increasingly urgent,” Behnam Bargh, managing director at real estate agency CRC, told AGBI. “Addressing this issue will be crucial for maintaining the country’s […] May 24, 2024
Real Estate Abu Dhabi developer spots opportunity in Latvia Abu Dhabi developer Eagle Hills Properties announced a €3 billion ($3.25 billion) investment in the Latvian capital city of Riga, as the UAE continues its investment drive into Europe. Eagle Hills’ Riga Waterfront, which was unveiled on Thursday, will ultimately encompass 8,000 luxury homes for 30,000 residents on a redeveloped site along 5 kilometres at […] May 23, 2024
Artificial Intelligence UAE and France agree joint investments in AI France and the UAE are to increase their collaboration in artificial intelligence, including joint investments, as they seek to become leaders in the AI sector. The French economy minister, Bruno Le Maire, signed a strategic agreement with Khaldoon Al Mubarak, chief executive of the UAE investment fund Mubadala and a member of the Abu Dhabi […] May 22, 2024
Manufacturing Stellantis to remove Italian flag from Fiats made in Morocco The automobile giant Stellantis will remove the Italian flag from its Fiat Topolino model after being accused of breaking Made In Italy laws because the car – technically a quadricycle – was produced in Morocco. Dozens of the vehicles were seized at the port of Livorno for violations of the law, which insists on strict […] May 22, 2024
Opinion Energy Shell and BP have seen the error of their ways – but is it too late? What TotalEnergies got right about energy transition, the UK giants got very wrong May 21, 2024
Energy France ‘open’ to UAE investing in its nuclear plants The French government is open to the UAE investing in the country’s nuclear power sector, its economy minister has said. Bruno Le Maire spoke to journalists in Abu Dhabi ahead of talks with Sultan Al Jaber, the UAE minister of industry and advanced technology, and Khaldoon Al Mubarak, chief executive of investment fund Mubadala and […] May 21, 2024
Opinion Trade Kingdoms hope to usher in a new era of UK-Saudi trade A change of UK government should not affect a flourishing relationship May 21, 2024
Manufacturing UAE-Italian venture wins $434m deal for naval vessels A joint venture between UAE’s state-owned defence company Edge Group and Italy’s Fincantieri will build a shipbuilding facility for advanced naval vessels in Abu Dhabi. The new venture, Maestral, has secured a large order from the UAE Coast Guard Forces for 10 advanced 51-metre offshore patrol vessels (OPVs) worth €400 million ($434 million). NewsletterGet the Best […] May 21, 2024
Analysis Real Estate From buyers to sellers: Russians cool on Dubai real estate Russian property owners in Dubai are cashing in and moving to alternative foreign enclaves, pushed out by currency issues and the rising cost of living in the emirate. Emigrants from Russia flocked to Dubai in 2022 at the start of the country’s war with Ukraine. The UAE, although condemning the invasion, proved a safe haven […] May 21, 2024
Tech Aramco to use Saudi Arabia’s first quantum computer Saudi Arabia plans to deploy its first quantum computer, after an agreement between the state oil company, Saudi Aramco, and the French computing company Pasqal. Pasqal will install, maintain and operate a 200-qubit quantum computer, due for deployment in the latter half of 2025, Aramco said in a statement. Quantum computers use the principles of […] May 20, 2024
Business of Sport LIV Golf chief says rugby next in line for Gulf funds Talks are taking place with sovereign wealth funds and private equity entities about potential Gulf investment in rugby, according to Mark Foster, senior vice president of finance operations at Saudi-backed LIV Golf Investments. Foster, a former Gloucester and Exeter Chiefs professional rugby player, told The Good the Bad & the Rugby podcast that discussions have […] May 17, 2024
Analysis Real Estate Marbella beckons for Abu Dhabi real estate developers A joint venture with a high-end Spanish residential developer has been launched by two Abu Dhabi real estate companies to build ten hectares of luxury homes in the Golden Mile, a premier area in Marbella. The deal with Mabel Real Estate to co-build Mabel Marbella Residences is the first luxury project in Europe for Bloom […] May 16, 2024
Video length: 03:53 VIDEO Logistics Shipping needs cheaper green methanol for its route to net zero Higher costs and undersupply remain the biggest concerns for shipping companies seeking to reduce their greenhouse gas emissions by switching to green methanol. Danish logistics company Maersk has ordered 25 vessels that can run on sustainably produced e-methanol. Its first large methanol container ship, Ane Maersk, arrived at Jebel Ali port in Dubai last week. […] May 16, 2024
Logistics DP World’s $142m projects enhance Romania’s trade links The global ports operator DP World has opened three new sites in Romania with an investment of €130 million ($142 million), enhancing the country’s growing status as a key trade hub in Europe. Two new facilities were opened in Constanta, the largest container port on the Black Sea, following a €65 million investment. These include a five-hectare cargo […] May 16, 2024
Finance Dubai tops ‘greenfield’ FDI ranking for third year Dubai is the world’s top location for “greenfield” foreign direct investment for the third consecutive year, according to fDi Markets. A total of 1,070 greenfield FDI projects, where a company sets up in a foreign country, building its facilities from the ground up, were reported in Dubai in 2023. This was more than double the […] May 15, 2024
Aviation Dnata CEO confident of victory in Rome airport case The group CEO of Dnata, the Dubai-based global air and travel services provider, is “very confident” the company will soon begin operations in Rome. “We’re certainly planning to be operating this year,” Steve Allen told AGBI at a media event on Tuesday, referring to an appeal ruling on the decision to award ground-handling contracts due […] May 14, 2024
