Middle East

Date

Engel & Volkers, the high-end real estate brokerage, has been appointed exclusive sales agent to officially launch the final phase of Sparkle Towers, a residential project being built in Dubai Marina in a deal with crystal giant Swarovski. The building owned by Dubai-based development company Tebyan, will offer investors a range of luxury studios, one-, two- and three-bedroom apartments as well as two four-bedroomed penthouses. Prices start f…


Hyperloop Transportation Technologies (HyperloopTT, HTT) appointed a design lead for its planned project on the Dubai-Abu Dhabi border, in a major step towards making the futuristic commercial travel system a reality in the UAE. A team led by Lebanese design and engineering giant Dar Al-Handasah will begin construction of the first commercial Hyperloop system in Abu Dhabi in Q3 2019. In addition to joining the project as design lead, the&nbs…


The Department of Economic Development (DED) in Dubai issued 20,467 new licences during 2018 as the emirate continued to enhance its appeal as a destination for sustainable business growth. Overall, 248,769 business registration and licensing transactions were recorded in the Business Map digital platform of DED last year, an increase of 4.6 percent over 2017, as more businesses and investors took advantage of the emirate’s competitiveness …


The UAE government has named the 20 recipients of the first batch of long-term visas announced on Wednesday. The 10-year visas have been granted to the winners and finalists of the first and second editions of the Mohammed bin Rashid Medal for Scientific Excellence, following the decision issued by the UAE Cabinet to grow the country's status as an incubator of talent and innovation......


2019-01-18

Dr. Ahmed Abdulrahman Al Banna, UAE Ambassador to India, held a discussion session with leading Emirati companies in India, which was organised by the "UAE-India Joint Business Council." The session aimed to provide a platform for Emirati companies to express their fears and opinions and exchange expertise, as well as to explain their expansion plans in India to Al Banna. Al Banna highlighted the importance of holding follow-up meetings and reque…


2019-01-18

Abu Dhabi Department of Energy has opened the region's first Grid Scale Battery Deployment and the world's largest Virtual Battery Plant with a capacity of 108 megawatts distributed over 10 sites across the emirate. The opening, which coincides with the Abu Dhabi Sustainability Week 2019, marks the first integrated control system for energy storage in Abu Dhabi. It aims to serve the city by ensuring load balancing during the day. "The landmark de…


2019-01-18

Superior product and service offerings steer the airline to multiple awards and the biggest winner status Emirates, the world’s largest international airline, celebrated a hat trick win at the 2018 Business Traveller Africa Awards. Emirates received awards for Best Business Class – for the second consecutive year, Best International Long-Haul Airline and Best Airport Business Lounge, underpinning its brand promise to offer a &lsq…


Hero Future Energies Pvt. Ltd is in talks to acquire Fotowatio Renewable Ventures’s 135 megawatt (MW) solar power project in India, two people aware of the development said. Owned by Abdul Latif Jameel Energy and Environmental Services, Fotowatio Renewables is the largest Arabian green energy utility. Its only investment in the Indian solar power space is located in Andhra Pradesh. Greenstone Energy Advisors, an investment bank focused…


The Russian Direct Investment Fund (RDIF) is planning to multiply the number of investment deals with Saudi Arabia “by several times” in 2019, the sovereign wealth fund said in a statement. The announcement comes as the RDIF leads the first Russian business mission of the year to the kingdom, bringing along more than 20 majority stakeholders and senior managers of companies including petrochemicals holding SIBUR, submersible pump manu…


Saudi Arabia hired HSBC Holdings Plc banker Rayyan Nagadi to set up a privatisation unit at the ministry of finance as the kingdom forges ahead with plans to sell state assets, people familiar with the matter said. Nagadi, previously head of project and export finance at HSBC Saudi Arabia, will advise the ministry on its privatisation process and will work closely with the National Center for Privatisation, the people said, asking not to be ident…


Saudi Arabia said it will start building the first residential area in a proposed $500 billion futuristic city that’s become a symbol of Crown Prince Mohammed bin Salman’s ambitions for life after oil. The kingdom plans to start work on Neom Bay in the first quarter this year, according to the state-run Saudi Press Agency. The area will have “white beaches, a mild climate and an attractive investment environment,” SPA said…


Sharjah-based carrier Air Arabia has filed a misdemeanour case against Abraaj founder Arif Naqvi. In a statement, Air Arabia said the court filing follows earlier arbitration proceedings that took place in July. “Air Arabia has investments outstanding with private equity firm Abraaj,” the statement said.     “In addition to Air Arabia’s claims submitted in the provisional liquidations of Abraaj Holdings an…


2019-01-17

Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, is pleased to unveil its Sustainable Finance Agenda at the inaugural Abu Dhabi Sustainable Finance Forum (ADSFF), held during the Abu Dhabi Sustainability Week. In addition, 25 key public and private entities and institutions committed themselves to the Abu Dhabi Sustainable Finance Declaration to jointly advocate sustainable finance and investments and to foster pos…


2019-01-17

Dubai Chamber of Commerce and Industry led a delegation of UAE retail leaders to New York earlier this week to participate in NRF 2019: Retail’s Big Show, the world’s largest retail expo and conference, where the delegates explored the latest trends and technologies reshaping the future of the global retail sector. The delegation was headed by H.E. Majid Saif Al Ghurair, Chairman of Dubai Chamber, and joined by CEOs and C-level execut…


2019-01-17

عبد الله بن زايد يستقبل رئيس مفوضية الاتحاد الأفريقي


2019-01-17

انطلاق "مهرجان أبوظبي للعلوم" 31 يناير الجاري


His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and President Mohamed Ould Abdel Aziz of Mauritania witnessed the signing of the agreement between the Khalifa Fund for Enterprise Development and the Mauritanian Deposit and Development Fund, on Sunday in Abu Dhabi. The USD 25 million agreement is aimed at providing support for micro, small- and medium-sized enterprise…


The world’s longest zipline in Ras Al Khaimah will resume operations this weekend, two weeks after a helicopter crash killed four rescue personnel on Jebel Jais, according to its operator. The incident, which took place on December 29, led to the deaths of three UAE nationals and a South African who were conducting a search and rescue mission in the area. At the time, local media widely reported that the helicopter struck part of the ziplin…


For Saudi equities, 2019 may be a story of two halves. The kingdom’s stocks are set to rally in coming months as billions of dollars gush into the market on its inclusion in benchmarks for developing-nations. But that may give way to selling before Ramadan, the month of fasting which will begin in May, as concerns over reforms and oil move back to the forefront, according to Nomura Asset Management. It will be “a positive first half a…


Emirates NBD reported a better-than-expected increase in full-year profit as lending rose and loan loss charges fell at Dubai’s biggest bank. The bank reported a net profit of $2.73 billion (AED10bn), supported by a 22% year-on-year improvement in provisions. The bank ended the year with assets of $136 billion (AED500bn), up 6% on 2017 The state-controlled lender recommended a dividend of 40 fils a share, unchanged from a year ago..........…


Dubai property brokers are seeing an increasing number of owner-occupiers buying properties in the emirate. Samer Abdin, GM of Dubizzle Property, speaking on this week’s AB Live, said the dynamics of Dubai’s property markets are changing, with more end users investing in homes. “One of the shifts that has happened in the real estate market is when you go back a few years, it was primarily an investor-driven market from a sales p…


2019-01-16

International and regional investors can use the futures to gain exposure to UAE market Nasdaq Dubai launched futures trading on the MSCI United Arab Emirates (UAE) equity index, in the latest expansion of the exchange’s futures market. The contracts are designed to appeal to international and regional investors seeking exposure to leading UAE companies. Robert Ansari, Executive Director - Head of the Middle East of MSCI, rang the mark…


2019-01-16

HE Mattar Al Tayer, Director-General and Chairman of the Board of Executive Directors of the Roads and Transport Authority (RTA), received in his office HE Vipul, India’s Consul General in Dubai. The meeting discussed means of boosting cooperation and exchanging expertise between RTA and Indian entities operating in the field of railways, roads and transport. The two parties also discussed the upcoming roads and infrastructure projects in D…


2019-01-16

2018 was another successful year for the Al Qasimi Foundation's research, capacity development, and arts and culture initiatives. We hosted the 8th Biannual GCES Symposium, partnered with the Ministry of Education on the UAE-Vietnam Teacher Exchange, coordinated the Ras Al Khaimah Future Careers Forum, and with the help of our community were able to make the 6th Annual Ras Al Khaimah Fine Arts Festival our best yet.


Jebel Jais Flight, the world's longest zip line, will reopen on Saturday following the tragic helicopter accident that killed four people on December 29. The zipline was closed to the public at the time of the accident and remained closed while a thorough investigation took place. According to the guidelines of Civil Aviation, the popular visitor attraction is now safe to reopen. "Now that we are absolutely certain that everything has been tested…


2019-01-16

    عملت دائرة البلدية والتخطيط بعجمان وبالتعاون مع شركة إيمز على تقديم خدمة خيمة العزاء على مدار 10 سنوات بما يقارب (1945) مستفيد من تلك الخدمة المجانية للمواطنين والمقيمين في إمارة عجمان وزودت بكافة مستلزمات مراسم العزاء وكلفت الدائرة فريق عمل…


2019-01-16

مواصلات عجمان تنظم ورشة بعنوان "معا للتميز" لسائقي مركبات الأجرة ajmantransport #مواصلات_عجمان. .        


2019-01-16

"بيئة أبوظبي" تصدر أول أطلس للمياه الجوفية في الإمارة لتعزيز كفاءة إدارة الموارد المائية


A 50-year-old man in Ajman was recognised by local authorities for his exemplary behaviour and heroism when he rose to the challenge and saved the life of a young boy. Bangladeshi citizen Farouk Islam Nour Al Haq was awarded on Tuesday by Ajman Civil Defence for his role in rescuing a three-year-old boy, who was thrown off the balcony of a burning apartment on the second floor. The incident happened last Monday, when a residential buildin…


Speculation over Saudi Arabia’s rumoured building of an oil-refinery in Pakistan has been all-but set in stone after the Minister for Petroleum and Energy Khalid Bin Abdul Aziz Al-Falih’s visit to the country today. Al Falih visited the port city of Gwadar that stands at the apex of China’s $60 billion investment in a transport corridor running through Pakistan. There he spoke to reporters and said that Saudi Arabia will visit $…


The second edition of the Jubail Energy Management Conference kicked off on Monday, running until Tuesday, at the King Abdullah Civilization Center.The conference brings together industry, government and academic interests to improve energy management in Saudi Arabia.The event is held under the patronage of the CEO of the Royal Commission in Jubail, Mustafa Al-Mahdi, along with officials, researchers and experts in the field of energy, from aroun…


ACWA Power is considering supporting the manufacturing of solar panels in KSA, its CEO said, as the power and water plants developer seeks to facilitate Saudi Arabia’s plans to develop its renewable power industry.Riyadh-based ACWA Power, partly owned by Saudi Arabia’s Public Investment Fund (PIF), does not plan to become a manufacturer of solar panels, but is “open to the idea of supporting and enabling the right environment in…


2019-01-15

The Abu Dhabi Securities Exchange, ADX, participated in the Partnership Summit 2019 in Mumbai, India on 12th and 13th January, 2019, as part of a UAE delegation led by Sultan bin Saeed Al Mansoori, Minister of Economy. At the event organised in collaboration with the host, the State Government of Maharashtra, the ADX delegation was led by Khalifa Salem Al Mansouri, Acting Chief Executive of the ADX. The participation of the ADX was in line with i…


Over the past ten days, more than 50,000 people have attended Winter Day Out, an event sponsored by the General Entertainment Authority (GEA), at The Gathering in Riyadh’s Masharef Hills development complex. Now in its second year, Winter Day Out is one of around 5,000 events either organized or sponsored by the GEA planned for 2019.  Running from Jan. 3 until Saturday night, thousands of people arrived daily, braving the cold winter w…


2019-01-15

Mubadala Investment Company, through its healthcare investment team, Mubadala Healthcare, today announced the acquisition of Amana Healthcare, the region’s leading provider of long-term care, specialised rehabilitation, and home healthcare services. Amana Healthcare, founded in Abu Dhabi and US-accredited, is the first healthcare provider in the Middle East to offer an integrated continuum-of-care to patients across the region. Amana Health…


King Abdullah of Jordan visited Iraq on Monday to activate security agreements between the two countries and finalize an oil pipeline project from Basra to the port of Aqaba. The king, on his first visit since 2008, was greeted by President Barham Salih on a red carpet at Baghdad airport before heading to meet Prime Minister Adel Abdul Mahdi. Salih welcomed the visit as strengthening “joint interests and security.” The visit took plac…


2019-01-15

• New analysis on outlook for UAE and global economies released during recent business seminar at Dubai Chamber • MENA region accounts for the largest share of Dubai’s exports (41%), followed by “Emerging Asia” with 26%, and Sub-Sahara Africa (18%) The UAE is forecast to achieve an average real GDP growth rate of 3.8% between 2019 and 2023, supported by an increase in investment flows and private consumption, according…


2019-01-15

Taxi bookings carried out by the Booking and Dispatch Center at the Public Transport Agency of Dubai’s Roads and Transport Authority (RTA) has touched 12,367,866 bookings in 2018, recording in the process a 17% rise compared to the figure reported in 2017 that was 10,573,855 bookings.  “The average time taken to dispatch taxis to clients last year clocked 11.35 minutes. The Center has carried out benchmarking with Singapore and W…


Etihad Airways PJSC may gain effective control of Jet Airways (India) Ltd, if lenders approve a resolution plan for the cash-strapped local airline, according to two people familiar with the ongoing discussions. The plan could see Etihad Airways raise its stake from the current 24%, and Jet Airways’s promoter and founder Naresh Goyal cede control of the airline that began operations more than two and a half decades ago, said …


His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, along with a number of world's leaders on Monday attended the opening of Abu Dhabi Sustainability Week, which is being held this year under the theme 'Industry Convergence: Accelerating Sustainable De…


 A man caught and saved a child thrown from the second floor of a burning apartment building by his desperate mother, Ajman Civil Defence said on Monday. While the three-year-old boy escaped unscathed, the Asian mother who jumped after her son suffered multiple injuries. Also injured was an Arab man who jumped from the first floor of the burning building, while a family of seven also had to be rescued. Lieutenant Colonel Raeed Obaid …


Joe Kaeser, CEO of German engineering giant Siemens, notably missed the Future Investment Initiative (FII) Summit in Riyadh in October. But he was back in the region last week to take the pulse of his business in the Middle East and had a message for Saudi Arabia: Your Vision 2030 strategy has a compelling logic — now make sure you see it through. Kaeser — arguably the most powerful businessman in the biggest economy in Europe, and bo…


The second Saudi Philanthropic Fellowship program, organized in tandem with the King Khalid Foundation (KKF) and the Bill & Melinda Gates Foundation, was launched on Saturday at the KKF’s headquarters.Called Shaghaf, meaning “passion,” the program will aim to attract young Saudis curious about careers in the nonprofit sector by providing information, improving its image, and organizing international training and experience.


The achievements report of the Saudi Arabian General Investment Authority (SAGIA) for 2018 showed a 99 percent increase in the number of licensed investments and a 100 percent increase in the number of investment expansion requests.The report also showed that the time required for issuing a new license has been reduced to 2.5 hours, the time required for modification services has been reduced to three hours, and the investors’ general satis…


2019-01-14

H.H. Dr. Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, received on Sunday, Claudio Descalzi, CEO of Eni, Italy’s largest energy company, during which a long-term agreement in oil and gas exploration was signed. The agreement awards Eni three long-term concessions to explore and develop onshore oil and gas fields in a 30-year partnership with the Sharjah National Oil Corporation, SNOC. H.H. Sheikh Ahmed b…


Sharjah's Ruler HH Sheikh Dr Sultan bin Mohamed Al Qasimi has signed a long-term agreement awarding Eni three long-term concessions to explore and develop onshore oil and gas fields in a 30-year partnership with Sharjah National Oil Corporation (SNOC).   Earlier, Sheikh Dr Sultan received in his office Claudio Descalzi, CEO of Eni, Italy’s largest energy company, in the presence of Sheikh Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sha…