Education Gems Education plans to spend $300m on growth Dubai company Gems Education plans to spend around $300 million over the next two to three years to increase organic growth, its CEO told Reuters, as it bets on population growth and an inflow of wealthy individuals. Dubai is one of the world’s fastest-growing cities whose population has been swollen by foreigners, particularly higher-income earners, […] March 3, 2025
Finance PIF temporarily suspends PwC from advisory work Saudi Arabia’s Public Investment Fund (PIF) has temporarily barred UK company PwC from securing advisory and consulting contracts until February 2026, according to a news report. The ban extends to the sovereign wealth fund’s more than 100 subsidiaries, Bloomberg reported citing informed sources. However, auditing projects continue as before. In May 2023, PwC received a license […] March 3, 2025
Renewable Energy Green hydrogen project in Oman expects $8bn investment The HyDuqm green hydrogen project in Oman, led by a consortium of France’s Engie and South Korea’s Posco, expects to attract $7 billion to $8 billion in investment to reach full capacity, a news report has revealed. The consortium has secured a 340 sq km block in Duqm on the coast in central Oman. The […] March 3, 2025
Video length: 07:42 Opinion Media & Advertising Why the British media is suddenly obsessed with Dubai Could a spate of reports mean yet more Brits heading to the UAE? February 28, 2025
Transport UK company plans purchase of UAE car trade start-up Seez Seez, a Dubai-based start-up, has announced its proposed acquisition by UK-based automotive technology company Pinewood AI. The deal is worth $46.2 million and will comprise cash alongside shares, the company said in a statement. Seez is a technology company that provides digital services for car dealerships aimed at increasing sales, including an AI virtual assistant, […] February 28, 2025
Manufacturing PIF weighs investment in Boeing’s Italian parts maker Saudi Arabia’s Public Investment Fund (PIF) is holding talks about investing in the aerostructures unit of Italian defence company Leonardo, a news report said. The talks are at an early stage with no agreement guaranteed, Bloomberg reported. The investment could lead to the Italian company building a civil aviation manufacturing plant in Saudi Arabia, the […] February 27, 2025
Space Why Gulf demand for satellites is taking off Man has gone there before, but for the Gulf Arab states the space race is only just picking up. Led primarily by the UAE and Saudi Arabia, Middle Eastern countries have spent $25 billion on satellites and other space projects and equipment over the past decade. That number is expected to triple to $75 billion […] February 27, 2025
Logistics Turkey’s Ciner Shipping packs up and moves to Athens One of Turkey’s largest shipping companies is moving its headquarters to Athens, the latest in a string of Turkish businesses to take advantage of Greece’s EU membership and what they say is a more investment-friendly environment. Ciner Shipping issued a statement on February 21 saying it was shifting its base from Istanbul. Its Turkish staff […] February 26, 2025
Artificial Intelligence G42’s Presight agrees Albania ‘smart city’ deal Data analytics company Presight, a unit of Abu Dhabi technology group G42, has agreed to work with Albania’s ministry of interior to implement an artificial intelligence-powered “smart city” project in the Balkan state. The project will introduce a traffic management platform in 20 cities and towns across Albania with the aim of reducing congestion and […] February 25, 2025
Construction Sidara renews talks to take over John Wood Group Engineering and construction consultancy Sidara has returned to the negotiating table for talks to take over the troubled British engineer John Wood Group. Sidara, which is based in Dubai, was in discussions last year over a potential $1.6 billion acquisition, but walked away in August, citing “geopolitical risks and market uncertainty”. Problems at the Scottish […] February 25, 2025
Opinion People & Lifestyle Happy days are here again for Russian expats in the UAE Even after any potential peace deals, many are likely to continue to live in the UAE February 24, 2025
Analysis Oil & Gas Egypt’s gas industry caught in vicious circle as demand rises Egypt’s gas industry is caught in a vicious circle. The country uses natural gas to generate almost 80 percent of its electricity, according to the International Energy Agency, and Globalpetrolprices.com says Egyptian households pay less than EGP1 ($0.02) per kilowatt hour. Demand for power and therefore for gas is surging at a time when production […] February 24, 2025
Business of Sport LIV Golf losses outside US widen to almost $400m Saudi-government owned LIV Golf posted a second year of financial losses, widening to almost $400 million in the 12 months to April 5, 2024, through its global tournaments outside the US. UK-based LIV Golf Ltd has attracted some of the world’s biggest names in the sport and runs tournaments in Australia, Singapore, Spain, Mexico, the […] February 19, 2025
Oil & Gas Oman LNG strikes 10-year deal with Swiss trader Oman LNG has signed a long-term liquefied natural gas (LNG) supply agreement with Mercuria, a Swiss-based trading company. Under the 10-year deal, the state-owned company will supply 800,000 metric tonnes per annum (mtpa) starting this April, the state-run Oman News Agency reported. Hamed Mohammed Al Nu’amani, CEO of Oman LNG, said the agreement expands its […] February 19, 2025
Trade UAE-Ukraine trade deal to increase GDP by $1bn The UAE and Ukraine have signed a comprehensive economic partnership agreement (Cepa) that is expected to increase GDP in the two countries by $1 billion over the next six years. The Cepa allows 99 percent of Ukrainian imports of UAE goods and 97 percent of Ukrainian exports to the UAE to be exempt from customs […] February 18, 2025
Analysis Oil & Gas Cyprus-Egypt pipeline paves way for island’s gas industry After years of high hopes and false starts, Cyprus’s natural gas industry might finally be flowing after the island state agreed this week to pipe prospective gas to Egypt, which is likely to be exported to Europe in liquid form. The deal highlights the potential importance of Cypriot gas in the Eastern Mediterranean, particularly after […] February 18, 2025
Renewable Energy Saudi Arabia’s Taqa and EDF partner on geothermal energy A unit of Saudi-based Taqa group and French state-owned electric utility company EDF have signed an agreement to collaborate on developing geothermal energy projects in the kingdom. Under the agreement Taqa Geothermal Energy and EDF will use their combined expertise to develop HVAC (heating, ventilation and air conditioning) and compressed air energy storage solutions in […] February 17, 2025
Banking and Finance Mubadala buys stake in Germany’s Apleona Abu Dhabi’s Mubadala Investment Company will acquire a minority stake in Apleona, a German facility management services company. Mubadala’s investment was made through a consortium led by Bain Capital’s private equity team and will support Apleona’s growth and development across Europe. The transaction is subject to regulatory approvals. No financial details were given. Apleona provides […] February 17, 2025
Markets Delivery Hero to use Talabat IPO earnings to clear bonds Delivery Hero is to buy back about €1 billion ($1 billion) in bonds using proceeds from last year’s Talabat IPO on the Dubai Financial Market. The Berlin-based food delivery company, which bought Talabat in 2015, said it will pay off its convertible bonds due in 2025 and 2026 and up to €350 million for 2027 […] February 13, 2025
Banking and Finance US banks buy Dubai gold to counter potential tariffs Dubai is among several global gold centres benefiting from fears among US banks that President Donald Trump might impose duties on the precious metal, analysts say. A backlog at refining facilities in Switzerland has added to US banks’ concerns about the availability of bullion. “There is now a real concern about the tariffs being imposed […] February 13, 2025
Analysis Energy Oman advances liquefied hydrogen export project While countries in the Gulf have big ambitions for hydrogen projects, they are still trying to work out how to export it. Oman, however, is advancing plans to establish what it says is the world’s first commercial scale liquid hydrogen “corridor” to export to Europe green hydrogen produced domestically. Usually, producers think about transforming it […] February 13, 2025
Telecoms UAE’s e& agrees to buy Serbia’s broadband operator UAE telecommunications company e&, formerly Etisalat, has agreed to acquire 100 percent of SBB d.o.o. Serbia (SBB), a cable television and broadband internet service company, for €825 million ($854 million). The deal will allow e& PPF Telecom to combine SBB with its Serbian mobile subsidiary Yettel, offering mobile, fixed broadband and pay-TV services. The acquisition will […] February 12, 2025
