Analysis Leisure & Hospitality Gulf events turning to inflatable domes A Slovenian leader in the manufacture of high-tech air domes is seeking expansion across the Gulf after capturing deals in Saudi Arabia. DBS Engineering has agreements with the Ministry of Investment, Alwaseel Sport City, Filling & Packing Materials Co (Fipco) and Zamil Industrial. The company said it will soon complete its second project in Qassim […] September 4, 2023
Exclusive Retail Middle East shoppers surge at UK’s Bicester Village Travelling on the train to Bicester Village, do not be surprised if you hear announcements in Arabic as you approach the British designer outlet retail destination an hour from London. This is just one example of the steps Bicester Village’s parent company Value Retail has taken in recent years to attract more Middle East shoppers. The […] September 3, 2023
Opinion Markets Storm clouds gather over sterling for Dubai investors An impending UK recession against a backdrop of Chinese deflation could see a flight to the dollar August 31, 2023
Finance Spanish bank targets GCC growth from Dubai office Spanish investment bank Alantra plans to expand its business in the Gulf with the opening of a new office in Dubai. The lender is interviewing candidates and hoping to announce new hires before the end of the year, Reuters reported. The investment bank announced it had receiving approval to operate from the Dubai International Financial Centre […] August 31, 2023
Analysis Trade Saudi minister Al Falih heads to Milan for trade talks Saudi Arabian and Italian officials are to meet in Milan next week for talks on investment opportunities in clean energy, healthcare, manufacturing and hospitality. The Ministry of Investment of Saudi Arabia will co-host the Italian-Saudi Investment Forum on September 4, as the countries seek to build on bilateral trade that surpassed $11 billion last year. […] August 30, 2023
Health PureHealth buys UK private hospital group for $1.2bn Pure Health, the largest healthcare group in the Middle East, is buying Circle Health Group, the UK’s largest operator of private hospitals. The deal, valued at AED4.4 billion ($1.2 billion), is Pure Health’s first entry into the UK. Based in Abu Dhabi, Pure Health has a network of more than 25 hospitals, 160 laboratories, 100 […] August 28, 2023
Finance Abu Dhabi fund buys share of hotel group in Spain Coral Reef, a subsidiary of Abu Dhabi Investment Authority, and Melia Hotels International have received approval to acquire a portfolio of 17 hotels from Equity Inmuebles in Spain and the Canary Islands. Financial details around the acquisition were not revealed. The deal was given the green light by the European Commission under EU merger regulations. […] August 22, 2023
Opinion Business of Sport When Saudi Arabia caught the football bug Forget the sneering Western media, it's the fans that matter August 18, 2023
Economy German decline scares off Middle East property investors Middle East investors are increasingly wary of buying German real estate due to the country’s stuttering economy and the allure of more profitable, less risky alternatives. This hesitance is exacerbating a slump in Germany’s property sector. Sales in the first half of 2023 totalled €14.9 billion, down 59 percent year on year and 53 percent […] August 17, 2023
Opinion Energy Adnoc and Occidental team up to capture carbon dioxide The Gulf has ideal conditions for the vital new technology of direct air capture August 15, 2023
Opinion Manufacturing Global EV manufacturers rev up for Gulf race There is a way to go before electric vehicles overtake fossil fuel cars August 14, 2023
Analysis Trade Nuclear energy to power UAE-Romania trade growth Dubai International Chamber has set up a Romanian Business Council as part of efforts to build on non-oil trade between the UAE and the Eastern European nation, which exceeded $1 billion last year. The council will promote the interests of Romanian businesses and Romanian-owned UAE-registered companies in Dubai. It will also support Dubai’s presence in […] August 10, 2023
Renewable Energy France’s Engie ramps up Middle East renewables push French utilities firm Engie is closing in on several opportunities in the Middle East as it looks to the region to help it hit targets to double renewables generation to 80 gigawatts by 2030. “We are trying to identify the best geographies for renewables and clearly the Middle East is one of those,” said Frédéric Claux, […] August 7, 2023
Analysis Trade In charts: How UK-GCC trade has soared The UAE was the UK’s largest trade partner in the GCC region last year, worth nearly $30 billion according to the latest data. Saudi Arabia followed with more than $22 billion while Kuwait encountered the fastest growth rate of 118 percent as total UK-GCC trade rose sharply to $83 billion. Below, is the story of a […] August 4, 2023
Construction UAE-UK Business Council targets building emissions Decarbonising the built environment should be a key aim for the UK and UAE as they work to accelerate the energy transition, the head of the UAE-UK Business Council has told AGBI. The council’s executive director Bradley Jones said the two countries had “a great deal of expertise in retrofitting existing buildings and developing alternative, […] August 1, 2023
Tourism Accor revenue rises sharply across Middle East hotels Accor, Europe’s largest hotel group, reported a 51 percent jump in revenue per available room across the Middle East, Asia and Pacific in the first half of the year. The Paris-based hotelier did not give a more detailed breakdown of revenue growth, but said the Middle East accounted for 27 percent of the €128 million […] July 31, 2023
Banking and Finance Standard Chartered not expecting further FAB approach The boss of British bank Standard Chartered does not anticipate a further acquisition approach from First Abu Dhabi Bank as a six-month cooling off period required by UK takeover rules comes to an end. The London-listed bank has been the subject of speculation this year around a possible sale to FAB, the UAE’s biggest lender. […] July 31, 2023
Opinion Aviation Ryanair in the Middle East? Never say never The Middle East will be much more interesting for Ryanair over the next few years July 31, 2023
Analysis Food & Drink North Africa to the rescue as Europe’s olive oil dries up A caesar salad may be the ideal light meal on a summer’s day, but you might have noticed it is weighing heavier on your wallet. That is because the price of olive oil is at an all-time high. Prices have jumped by nearly 80 percent in just one year, according to data from YCharts. European […] July 28, 2023
Renewable Energy Masdar buys 49% stake in German wind farm project UAE renewable energy company Masdar is buying a 49 percent stake in Spanish utility Iberdrola’s 476MW offshore wind farm in the German Baltic Sea for €375 million ($414.5 million). The Baltic Eagle wind farm is valued at €1.6 billion, with Iberdrola controlling and managing the asset and providing operation and maintenance services. Baltic Eagle consists […] July 27, 2023
Transport UK keeps Turkey’s high speed railway on track with $865m backing The UK government’s export credit agency has underwritten $865 million of financing to support construction of a 286km high-speed electric railway in southern Turkey. With financing provided by UK Export Finance (UKEF), Turkey’s Rönesans Holding will finish construction of the Mersin-Adana-Gaziantep High Speed Railway on behalf of the Turkish Ministry of Transport. The deal is […] July 25, 2023
Analysis Logistics Getting married? Your flowers probably flew Emirates With the global wedding season in full bloom and demand for fresh-cut flowers blossoming, Emirates’ advanced logistics capabilities and strategic location are helping it capitalise on this market. The Dubai airline’s commercial freight division Emirates SkyCargo transported 3,590 tonnes of time- and temperature-sensitive fresh-cut flowers in May this year alone – a 20 percent year-on-year […] July 23, 2023
