The First Group

The First Group expands business with launch of hotel management division

The launch of the new operation coincides with The First Group being appointed to manage the Zoya Health and Wellbeing resort in Al Zorah, Ajman

Construction uae saudi arabia

Construction boom: UAE, Saudi Arabia expect surge in project numbers and values, says report

Majority of construction decision makers in the two countries are confident about the market conditions over the next 12 months

EFG Hermes group CEO Karim Awad Image courtesy EFG Hermes Holding

EFG Hermes reports 157% rise in net profit to EGP885m in Q1 2023

The group recorded a 129 per cent year-on-year rise in revenue to EGP4.5bn in Q1 2023

Broadcom

Apple signs multibillion-dollar deal with Broadcom for 5G components

The components will be designed and built in several US manufacturing hubs including Fort Collins, Colorado, where Broadcom has a major facility

ADNOC Group Onshore Drilling Rig

ADNOC, TAQA invest $2.4bn to supply sustainable water to onshore operations

The project will develop a centralised seawater treatment facility for operations at the Bab and Bu Hasa fields in Abu Dhabi

Meta offloads Giphy for a loss. Image credit: Getty Images

Meta unloads Giphy to Shutterstock at a loss of more than $260m

Facebook’s parent company Meta announced the sale of Giphy after its purchase of the GIF maker was blocked by competition regulators in the UK

UK Business and Trade Secretary Kemi Badenoch

UK Business and Trade Secretary Kemi Badenoch on Gulf states tour

Badenoch’s trip comes as the total trade between the UK and GCC reached a record high of GBP61.3bn in 2022

UAE Minister of State for foreign trade Dr Thani bin Ahmed Al Zeyoudi

UAE, Malaysia agree to launch CEPA negotiations

The UAE has so far concluded four CEPAs with India, Israel, Indonesia and Turkey and the first two have already come into force

Etihad Rail and Uber sign MoU photo credit Uber

Etihad Rail, Uber sign MoU to jointly bolster integrated mobility services

The companies will look at integrating e-hailing services and explore the possibility of creating an Uber dedicated pickup and drop-off area for passengers within stations

Healthcare facilities

Abu Dhabi temporarily closes two healthcare facilities over several violations

The violations include failure to adhere to safety procedures, use of expired materials and tools, and non-compliance with the standards for medical waste disposal

Google Cloud

New Google Cloud region in Doha to fuel economic growth and job creation in Qatar

The region is set to contribute a cumulative $18.9bn to economic activity in Qatar between 2023 and 2030 and support creation of more than 25,000 jobs in 2030 alone

Investment Authority Qatar

Builder.ai announces $250m Series D led by Qatar Investment Authority

The funding round included participation from existing and new investors including Iconiq Capital, Jungle Ventures & Insight Partners

Saudia

AI takes flight: Saudia, Accenture collaborate to develop over 260 new digital services

All the digital systems developed by Accenture will be designed specifically for the airline, increasing operational efficiency and reducing costs

Samara

Air Arabia launches new route to Samara in Russia

The airline will operate three flights weekly, starting from October 1, 2023

ADFD investments in 2022 Photo GettyImages-1430804172

Abu Dhabi development fund sees financing, investments cross Dhs189.7bn in 2022

According to its annual report, Abu Dhabi Fund for Development’s investments benefitted 104 nations last year

Cold storage in Meta data center. Image Credit: META

Meta fined record $1.3bn in EU over US data transfers

The Meta fine coincides with the fifth anniversary of the EU’s General Data Protection Regulation, widely seen as the world’s benchmark for privacy

insurance company

CBUAE removes board of directors of insurance company

It is replaced it with a temporary committee of experts for six months

MoF issues Ministerial decisions related to corporate tax Photo WAM

UAE corporate tax: MoF issues 3 new ministerial decisions

According to the ministry, the three new decisions aim to enhance the flexibility of UAE’s corporate tax regime and ensure a supportive business environment for all sectors

International Space Station receives Saudi astronauts after their maiden space flight. Image Credit: NASA TV

Rayyanah Barnawi, Ali Al Qarni’s first day at the International Space Station

The Axiom 2 mission brings together three Arab astronauts on board the ISS for the first time in history

The aircraft, 9H-FIVE, pronounced Nine-Hotel FIVE, will be based in Dubai (Image: Supplied by FIVE Hotels and Resorts)

Dubai’s FIVE Hotels introduces private jet charter service

The ACJ TwoTwenty aircraft, 9H-FIVE, will be based in Dubai and has an approximate flying range of 12 hours

WhatsApp

Say goodbye to typos: WhatsApp launches edit message feature

The edit history will not be displayed, ensuring that the original content remains private

Seychelles (Image: Sourced from Qatar Airways Newsroom)

Qatar Airways signs codeshare with Air Seychelles

Qatar Airways will place its code on Air Seychelles’ operated flights between Mahé and Praslin

Rajasthan Royals

Saudi’s NEOM partners with India’s Rajasthan Royals for first ever cricket programme

The pilot programme aims to facilitate an active and healthy lifestyle within the growing workforce, forecast to reach 60,000 people by the end of the year

DP World starts freight service Photo courtesy WAM

DP World launches new freighter service between UAE-Iraq

The service takes approximately 36 hours to travel between Jebel Ali Port in the UAE and Umm Qasr Port in southern Iraq

Azulik AlUla resort image courtesy RCU

Saudi Arabia’s RCU to open AZULIK AlUla, a new eco-luxury resort

The eco-luxury resort, which will feature 76 villas, is scheduled to be launched by 2027

ADNOC L&S IPO

ADNOC raises size of its logistics unit IPO on heavy demand

The maritime logistics firm expects the final offer price to be announced on May 26, after the book-building process

Mall of the emirates 3 day super sale is back phot courtesy: Mall of the Emirates Majid al futtaim

Dubai’s 3 Day Super Sale is back, with discounts up to 90% up for grabs

The three-day super sale (3DSS) will run from May 26 to 28

NEOM green hydrogen plant

NEOM Green Hydrogen Company closes $8.4bn deal for production facility

The green hydrogen production plant is currently being built at Oxagon in Saudi Arabia’s NEOM region

Mubadala-fortress acquire FOrtess Investment Group.-Image-courtesy-WAM-e1683045715405

Fortress Management, Mubadala to acquire Fortress Investment Group

The transaction is expected to close in the first quarter of 2024, subject to regulatory approvals

INR2000 denomination currency withdrawn by India's central bank - the RBI. Image Credit: Getty Images

What does India’s decision to withdraw INR2000 currency note mean?

The 2000-rupee note will remain legal tender, but citizens have been notified to deposit or exchange these notes