Middle East

Date
2019-11-20

The Registration Authority of Abu Dhabi Global Market (ADGM) and the Ras Al Khaimah International Corporate Centre (RAK ICC) have signed an agreement that intends to advance business operations between Abu Dhabi and Ras Al Khaimah by exchanging insights on matters of common interest and enhancing secondment opportunities in both jurisdictions. The Statement of Co-operation (‘Agreement’) was signed by Mr. Dhaher bin Dhahr Al Mheiri, CE…


2019-11-20

Art Nights to feature the first ever 3D-printed art installation in the Middle East Eclectic and vibrant art pieces by local UAE talent and international artists to transform Dubai’s 8th ranked international financial centre to outdoor art gallery Biggest lifestyle event, reinforces DIFC’s commitment to recently announced Dubai’s Culture and Arts strategy The popular DIFC Art Nights will return bigger than ever to the Dubai Int…


2019-11-20

“Be Part of Dubai” initiative launched by Dubai Chamber, General Directorate of Residency and Foreigners Affairs (GDRFA) Dubai Free Zone Council Dubai Chamber of Commerce and Industry (Dubai Chamber) has announced that it has signed a memorandum of understanding (MoU) with the General Directorate of Residency and Foreigners Affairs (GDRFA) and Dubai Free Zone Council to launch the “Be Part of Dubai” initiative which will s…


2019-11-20

The Emirates Group and GE Aviation, the world-leading provider of jet and turboprop engines, have signed a Memorandum of Understanding (MoU) to extend GE’s development and leadership training programmes to UAE National employees at the Emirates Group. The MoU was signed at the Dubai Airshow by Nasser Bin Kherbash, Emirates’ Divisional Senior Vice President, HR Development and Customer Service and Aziz Koleilat, Vice President of Sales…


2019-11-20

The facility supports working mothers with children experiencing emergency cases HE Mattar Al Tayer, Director-General and Chairman of the Board of Executive Directors of Roads and Transport Authority (RTA) has opened Mother & Child Corner coinciding with the Universal Children's Day (20 November 2019). The initiative contributes to the corporate resiliency and empowerment of working women through nurturing an exceptional working environment f…


Oman-based low-cost carrier Salam Air is looking to expand its network into Europe, the Far East, India and Africa after signing a lease deal for two longer-range aircraft. The airline has signed a lease agreement with GE Capital Aviation Services (GECAS) for two new A321Neo, which has the capability to be operated on medium-haul routes. With A321Neo possessing a flying range of over 6.5 hours, Salam Air said it can now connect Muscat and Salalah…


Riyadh will become a "phenomenally attractive" city in which to live, to work and to visit under multi-billion plans to transform the Saudi capital, according to an international expert. A panel of prominent experts from various academic and professional fields made the conclusion at a symposium on Riyadh’s plans to become a world-class sustainable city. The symposium, hosted by The Royal Commission for Riyadh, centred on four wellbeing pro…


2019-11-19

Dubai Islamic Bank PJSC, DIB, successfully closed a US$%750 million 5-year Sukuk with a profit rate of 2.950 percent per annum, which is equivalent to 140bps over the 5-year Mid Swap Rate. The transaction is DIB’s second foray into the international capital markets in 2019, the first being a $750mn Additional Tier 1 Sukuk priced earlier this year. The Sukuk’s profit rate of 2.95 percent is the tightest achieved by an FI Sukuk in 2019.…


2019-11-19

The number of Indian tourists travelling to the GCC is expected to increase 81 percent from 5.4 million in 2018 to 9.8 million in 2024, growing at a Compound Annual Growth Rate, CAGR, of 10 percent, according to the latest data published ahead of Arabian Travel Market, ATM, 2020. As destinations throughout the Middle East prepare to showcase their latest offering at ATM 2020, which is set to be held at the Dubai World Trade Centre in April 2020, …


2019-11-19

The Ministry of Finance, MoF, stated that issuing Decree-Law No. (19) of 2019 on the Insolvency of Natural Persons affirms the UAE’s leading position in building a legislative and legal system that strengthens the financial and economic stability of the nation. The ministry added that although important, independent legislation dealing with the insolvency of a natural person through specialised independent legislation is rare. The confirmat…


2019-11-19

High-performance car maker W Motors joins Nasdaq Dubai to accelerate its expansion  Maker of supercars and the Ghiath Dubai Police car will enhance relationship with its investors through link to region’s international exchange  W Motors is the first private company to deposit shares in Nasdaq Dubai CSD   W Motors announces the launch of W Motors Automotive Group Holding Limited, a DIFC established company Dubai-based…


2019-11-19

Holographic aircraft, personalised aviation journeys, futuristic fuselages, and exciting interactive experiences await Expo 2020 visitors With just under one year to go until Expo 2020 Dubai, billed as “the world’s greatest show”, Emirates airline is lifting the lid on the futuristic, interactive technologies and experiences in store for visitors at its Expo 2020 pavilion. Emirates has been working with academics and its indust…


Agricultural development and environmental sustainability in Saudi Arabia will receive a boost in the coming years, thanks to a new agreement between the International Center for Biosaline Agriculture (ICBA) in Dubai and the Saudi Ministry of Environment, Water and Agriculture. The agreement aims to enable Saudi Arabia to achieve its goal of preservation and sustainable management of its natural resources by raising the quality of biosaline agric…


Defectless, a six-month-old lifestyle brand, is inspired by revealing hidden beauty. It started by highlighting the diversity of Saudi Arabia’s landscape. Unlocking the once-hidden treasures and memorializing them into contemporary and sustainable art pieces.“I want to create pieces that are not only aesthetically beautiful, but that tell stories of people and places and inspire human progress,” 24-year-old artist Miraim El-Maou…


 Investment professionals and energy experts delivered a mainly enthusiastic response to the pricing of shares in Saudi Aramco and the overall valuation of the biggest oil company in the world at between $1.6 trillion and $1.7 trillion. Al Mal Capital, a Dubai-based investment bank, said that it was positive on the Aramco initial public offering (IPO) on that kind of valuation, which it said was justified by the financial metrics. “We …


2019-11-18

New rotorcraft terminal to be established in Dubai next year in proximity of Expo 2020 supporting helicopter transport operations to and from the site The innovative concept will bring similar comforts and services to a private airport and will also open new point-to-point opportunities   The AW609 tiltrotor will be on display beside the terminal showing the unique advantages of the world’s fastest commercial rotorcraft paving the way …


Etihad Airways and Boeing on Monday announced a first-of-its-kind "eco partnership", in which a specially-themed Boeing 787 Dreamliner will be used to test products, procedures and initiatives designed to reduce aircraft carbon emissions. The Etihad Greenliner, to be introduced early next year, will be used by both companies to explore and assess environmental sustainability initiatives while the aircraft operates scheduled services across the ai…


2019-11-18

Roads and Transport Authority (RTA) and Majid Al-Futtaim (MAF) Group recently renewed their partnership for the naming rights of Mall of the Emirates and Deira City Centre Metro Stations. The renewal is a clear testament of the benefits reaped by both parties over 10 years of a fruitful partnership.  Abdul Mohsen Ibrahim Younes, CEO of RTA’s Rail Agency was delighted with the extension of the partnership agreement following a decade of…


2019-11-18

Airbus is considering the production of a corporate jet "based on A380," the world's largest passenger airliner, according to a top company official. The aerospace and defence giant announced earlier this year that it will stop deliveries of double-deck A380 in 2021. "It’s a question of having an aircraft that is efficient and having to fill it in [with passengers] ... Today, the A380 is doing a great job. There is a possibility of having a…


2019-11-18

Announcement made during H.E. Al Hashimy’s address at 5th Global Business Forum Africa in Dubai  Dubai Chamber to host 33 events during Expo 2020, including 30 Country Focus Briefings, the next editions of GBF Africa and GBF Latin America and the first GBF ASEAN  H.E. Buamim: We look forward to hosting several high-level forums and events during Expo 2020 that will offer an ideal platform for facilitating business exchang…


2019-11-18

‘The Diamond Terminology Guideline’ is now available online in Arabic, and is endorsed by the world’s leading diamond industry organisations DMCC was commissioned to produce an Arabic document that sets a universal standard for communicating about diamonds and laboratory-grown diamonds The publication is in response to demand from the dynamic and growing diamond sector in Dubai, the UAE, the Middle East and beyond   DMCC &…


2019-11-18

The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM FSRA) and the Croatian Financial Services Supervisory Agency (HANFA) have signed two Memoranda of Understanding (MoUs) to enhance their regulatory collaboration in the areas of financial technology (FinTech) and Investment Management. The MoUs were signed by Mr. Ante Žigman, President of the HANFA Board, and Mr. Philippe Richard Executive Director of Internationa…


2019-11-18

- Global Business Forum Africa Kicks off 5th edition in Dubai Dubai’s non-oil trade with the continent stood at AED 926 billion in the 2011-2018 period Dubai is Africa’s gateway to new markets, building on its strong presence on the global economy map and its role in advancing international trade GBF Africa has become a leading platform for expanding UAE-Africa economic cooperation and forging partnerships Africa is a market o…


2019-11-18

Spectacular procession filled the skies as a centrepiece celebration of the UAE’s aviation and aerospace advancements The Emirates A380, the UAE airline’s flagship commercial aircraft, soared through the skies in an unprecedented flypast procession today, kicking off the 2019 edition of the Dubai Airshow. Spectators and aviation enthusiasts were able to watch a spectacular formation of 3 Chinook, 3 Black Hawk and 3 Apache helicop…


2019-11-18

Roads and Transport Authority (RTA) has launched the third edition of Kiswat Khair (Clothes for Good) initiative at the Celebration Walk at the Global Village in Dubai. The initiative aims to diffuse the spirit of volunteering in the UAE community through unconventional means by re-conditioning used clothes and distributing them to the needy in sisterly and friendly countries.  “The inaugural edition of Kiswat Khair initiative had reco…


  [Entrepreneur Middle East Staff] On the sidelines of GITEX, we ask entrepreneurs how they deal with rejection. Held from September 27-October 1, 2019, GITEX Technology Week 2019 gathered more than 100,000 visitors and 4,500 exhibitors to discuss major trends and opportunities in the regional and global tech landscapes. On the sidelines of GITEX 2019, we ask entrepreneurs how they deal with rejection on their entrepreneurial …


Talal Al-Obailan has been the director of corporate communications and marketing at the General Authority of Civil Aviation (GACA) since November 2018. Before then he was GACA’s director of marketing and communications. Prior to joining GACA, Al-Obailan served at other government institutions including the Ministry of Commerce and Investment and the Saudi Commission for Tourism and National Heritage (SCTH).....


The Blackstone co-founder talks about his career at the top of the financial tree — and Saudi Arabia’s ambitious transformation plans  I must confess I was a little nervous about telling Stephen Schwarzman, co-founder and CEO of the gigantic financial group Blackstone, that I had not read every single word of his recently published book “What is Takes — Lessons in the Pursuit of Excellence.” Ahead of our interco…


Over 25 Saudi companies and government institutions are taking part in the Dubai Airshow hoping to snag deals for their latest defense and aviation technologies being showcased at the biennial event. The Middle East’s biggest aviation gathering opened on Sunday sans major announcements for big-ticket aircraft purchases from Gulf flagship carriers, maybe also due to dozens of deals already been previously signed and the planes just waiting t…


2019-11-17

DUBAI WATCH WEEK This year’s edition of Dubai Watch Week celebrates two of the industry’s biggest progress drivers; innovation and technology. The intersection of radical thought coupled with enhanced technical ability has impacted progress in watchmaking not just technically speaking, be it the transportation of clock movements into wristwatches, to producing pieces that can be lifted thousands of miles into the air or hundreds of …


Billions of dollars worth of deals are expected to be signed at Dubai Airshow 2019 this week. The biennial event at Dubai World Central, which takes off today, is predicted to attract over 1,300 exhibitors and up to 87,000 aerospace professionals across its five-day run. Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, made an onsite tour of the Dubai Airshow 2019 on Saturday to inspect the preparations fo…


From a desert outpost to a sprawling metropolis boasting the world’s biggest long-haul airline, Dubai has long epitomised rapid growth, and its biennial air show has typically mirrored that quest with record-breaking plane orders. But the last two years haven’t been easy on the aviation industry or the global economy, turning the event, which starts Sunday, into a barometer for future demand. Boeing’s 737 Max, a star at the 2017…


2019-11-17

 As part of their ongoing commitment to enable the UAE’s defense and security industry, Tawazun Economic Council, "Tawazun," announced plans to establish four new regional centers, bringing to nine the total number of projects announced under the new policy for Tawazun Economic Programmne during IDEX 2019. Matar Ali Al Romaithi, Chief Economic Development Officer at Tawazun Economic Council, said: "A key objective of the Programme is t…


2019-11-17

• Regional integration, economic reforms, technological advances and infrastructure development among key factors enabling business growth in the region• Report released by Dubai Chamber in cooperation with the Economist Intelligence Unit (EIU) ahead of Global Business Forum Africa 2019 Growing momentum behind regional integration, economic reforms, technological advances and infrastructure development are among the key factors fuelling…


 Riyadh Season’s first Anime Expo, the largest convention of its kind so far staged in the Middle East, has brought a taste of all things Japanese to the region. From musical performances to popular anime booths, visitors to the event have been lapping up the opportunity to take photos with their favorite characters.Guests were greeted by a life-sized Eren Yeager in his titan form, and fans swarmed around a gigantic Naruto, and a Drago…


Red Sea Farms bagging third prize at the Entrepreneurship World Cup (EWC) is a “fantastic” feeling, the Saudi startup’s co-founders Mark Tester and Ryan Lefers told Arab News. “We’re representing Saudi Arabia, which I’m really proud of,” said Tester. “I think it’s bright to show that Saudi Arabia can not only host an amazing event, but actually has companies in the finals. There were several (…


An eight-month crisis over the grounding of Boeing’s 737 MAX jets and widespread industrial delays are setting an unpredictable backdrop to next week’s Dubai Airshow, with some airlines reviewing fleet plans even as others look for bargains. The biennial civil and military expo is a major showcase for wares from jumbo jets to military drones but faces growing questions over demand and the capability of overstretched suppliers, delegat…


2019-11-16

Al Tayer: The initiative assists the integration of public transit means, supports First and Last Mile connectivity Roads and Transport Authority (RTA) has signed a contract with Careem whereby the latter will operate 3,500 bicycles across 350 smart docking stations in Dubai. The service marks the first bicycle-pool phased program of its kind in the region.  HE Mattar Al Tayer, Director-General and Chairman of the Board of Executive Director…


Emaar Development, the build-to-sell property development business majority-owned by Emaar Properties, on Thursday said it has entered into a new joint venture for The Valley, an AED25 billion project located on Dubai – Al Ain Road. The developer didn't give any further details about the project, which will extend the map of Dubai, as it reported net profit of AED2.070 billion ($564 million) for the first nine months of 2019, down from AED2…


2019-11-16

On the International Day of Tolerance, Emirates announces flight that will bring together multicultural communities of the UAE  Emirates will operate a historic one-off A380 flight on 29 November in an unprecedented effort to bring together and celebrate the vibrant multicultural communities of the UAE onto one flight. The airline will attempt to welcome as many nationalities as possible onto flight EK2019, for a special flight journey aroun…


2019-11-16

Abdel Fattah El Sisi, President of Egypt, today, visited the Abu Dhabi National Oil Company’s, ADNOC, stand at the Abu Dhabi International Petroleum Exhibition and Conference, ADIPEC. President Sisi was welcomed to the stand by Dr Sultan Al Jaber, UAE Minister of State and ADNOC Group CEO, and other members of ADNOC’s senior leadership team. During his visit, President Sisi was briefed on how ADNOC is embedding digital technologies, i…


2019-11-16

The number of hotel guests staying in Abu Dhabi emirate during the third quarter of 2019 exceeded 1.3 million, an increase of 1.7 percent compared to the same period in 2018, according to the figures released by the Department of Culture and Tourism – Abu Dhabi, DCT Abu Dhabi. In the year-to-date in 2019 there have been almost 3.8 million hotel guests, a 2.9 percent increase on 2018, said a press release issued by DCT Abu Dhabi on Saturday.…


2019-11-16

ADNOC Drilling, a subsidiary of the Abu Dhabi National Oil Company (ADNOC), announced today a major rig fleet expansion program to support ADNOC’s upstream growth plans and enable the delivery of its 2030 Smart Growth Strategy. In the first phase of the wider expansion program, ADNOC acquired, in November 2019, four technologically advanced and UAE-built land rigs with a total value of over AED 350 million ($100 million). Following the…


2019-11-16

 Emirates and the ATP today announced a renewal of their highly successful partnership, with the award-winning airline signing on as Premier Partner and Official Airline of the ATP Tour for an additional five years, beginning in 2021. The Premier Partnership renewal will extend Emirates’ commitment to the sport to 2025, having first been associated with the ATP since 2013 when the airline was a Platinum Partner. As Official Airline and…


2019-11-15

twofour54 Abu Dhabi has been named ‘Broadcast Services Provider of the Year’ for the second time in a row, a reflection of the world-class, 360-degree support and infrastructure that is ensuring the media free zone is a hub for the creative community and broadcast industry in the region. twofour54 picked up the accolade last night in Dubai at the BroadcastPro Summit & Awards, which celebrates excellence in the broadcast and satel…


2019-11-15

The Sharjah Chamber of Commerce & Industry, SCCI organized, in collaboration with the Emirates Association for Franchise Development (FAD) and Tijarah 101 Center, a workshop entitled: “Franchise Industry from Locality to Universality”The event comes as part of the SCCI’s efforts to bolster the business sector, help the Emirate’s private sector and entrepreneurs protect their businesses, and introduce them to the best p…


2019-11-15

Listing supports further expansion by one of Middle East’s largest real estate developers  Dubai is one of the world’s largest venues for Sukuk listings with value totaling USD 64.3 billion      Yousef Bin Abdullah Al-Shalash, Chairman of Dar Al-Arkan Real Estate Development Company of Saudi Arabia, today rang the market opening bell at Nasdaq Dubai to celebrate the listing of a 600 million US dollar Sukuk. The …


2019-11-15

SmartCrowd Limited, a Dubai-based company and MENA’s first financially regulated real estate investments platform (REIP) has announced today that the company has fulfilled all regulatory requirements and acquired a full license from the Dubai Financial Services Authority (DFSA), the independent regulator of financial services based in the Dubai International Financial Centre (DIFC). Prior to its full license, SmartCrowd was operating under …