The new ownership structure will see ADNOC holding 49% of the company and giving it a valuation of $1.4 billion, according to a joint company press release. ADNOC will in turn get a 4% stake in …
Dubai flights canceled, schools and offices shut as rain pelts UAE just weeks after deadly floods
Emirates was forced to cancel some flights in and out of Dubai, while residents were sent warnings to stay off the streets as heavy rains returned to the UAE.
9. Rains disrupt life again in Dubai
This decision was made during a meeting of Dubai’s Supreme Committee of Crisis and Disaster Management, which assessed strategies to mitigate potential impacts from the upcoming weather forecast. The Ministry of Interior, in collaboration with the National …
Chinese hotel brand eyes first openings in Dubai and Saudi Arabia
In February, Deutsche Hospitality was rebranded to HWI as part of its overseas growth plan, under which the first Chinese hotels will open in Dubai and Saudi Arabia.
UAE’s ADIA, Olayan Saudi Investment to be cornerstone investors in Fakeeh Care IPO
Saudi hospital group Dr. Soliman Abdul Kader Fakeeh Hospital and its subsidiaries, together known as Fakeeh Care Group, which plans to sell a 21.5% stake in an IPO, said on Thursday it has signed …
SFC begins insider dealing case against hedge fund
The Securities and Futures Commission (SFC) on Thursday said it had started criminal proceedings against hedge fund Segantii Capital Management, its …
Banking sector sees AED33.3 billion surge in new Savings Deposits over 12 months, marking 14% growth
Savings deposits in the UAE’s banking sector, excluding interbank deposits, attracted around AED33.3 billion to reach AED278.37 billion at the end of February 2024, compared to about AED245.01 billion …
Banks face new risks as US tightens sanctions on Russia
In addition, the Treasury sanctioned five investment and venture capital funds that fund Russian technology, plus six fintech companies that provide … into the gears of Russia’s military logistics …
Nigeria Enforces Fintech Onboarding Freeze Amidst KYC Crackdown
Central Bank of Nigeria introduced KYC compliance measures among fintech operators within nation, four of them received CBN instruction to stop …
Dubai’s plan for ‘world’s largest airport’ that will see 260million passengers travel through $35b futuristic desert hub
A MAJOR £28billion project is set to transform a Dubai airport into “the world’s airport” and global centre, says the city’s leader. Construction of a futuristic new passenger terminal at Al …
Dubai’s Al Maktoum Set to Become the Mega Hub to Top All Mega Hubs
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai — has approved plans for phase 2 of Dubai’s Al Maktoum airport, also know as Dubai …
Binance founder’s ‘cooperation’ got him a light sentence. So what did he tell the feds?
The crypto world likes a good conspiracy and … Zhao also had leverage since he could have elected to just stay in Dubai, where he owns a home and where authorities are reluctant to extradite wealthy …
Abu Dhabi’s ADNOC says oil production capacity reaches 4.85mln bpd
Abu Dhabi oil giant ADNOC’s production capacity has reached 4.85 million barrels per day (bpd), it said in a post on its website, up from the 4.65 million bpd it reported at the end of last year. The …
Abu Dhabi Aviation successfully completes transaction for the acquisition of stakes
Abu Dhabi Aviation (ADA) (ADX: ADAVIATION), a leading aviation service provider headquartered in Abu Dhabi, has successfully completed a transaction for the acquisition of stakes in Etihad Airways …
A family guide to the 2024 Abu Dhabi International Book Fair, from Batman to Scrabble
The final weekend of the Abu Dhabi International Book Fair is when families come out to play.After days of meetings and deal makings by authors and publishers, the vast space at the Abu Dhabi National …
JEE Advanced 2024: Abu Dhabi, Dubai and Kathmandu added to the list of exam centre cities
Advanced 2024, has expanded its exam centres to include international locations. Commencing registration on April 27, IIT Madras now offers candidates the choice of Abu Dhabi, Dubai, and Kathmandu as …
UAE’s Oil Giant Raises Capacity Numbers Ahead of OPEC Meeting
The United Arab Emirates’s main oil company said it had bolstered its production capacity, a month before the country meets with fellow OPEC+ nations to decide output levels for the second half of 2024.