Dubai records over $326.71mln in realty transactions Tuesday

 Dubai real estate market recorded 385 sales transactions worth AED936.65 million, in addition to 98 mortgage deals of AED186.25 million, and 41 gift deals amounting to AED131.82 million on Tuesday, data released by the Dubai’s Land Department (DLD) showed. The sales included 358 villas and apartments worth AED691.86 million, and 27 land plots worth AED244.79 […]

Abu Dhabi’s ADNOC invites banks to pitch for gas business IPO -sources

    Abu Dhabi National Oil Company (ADNOC) has invited investment banks to pitch for roles in the initial public offering (IPO) of its gas business next year, two sources familiar with the matter told Reuters. Bankers familiar with the matter said a request was sent to a select number of banks last week for […]

Dubai’s Emirates NBD announces leadership shake-up

Dubai’s top lender Emirates NBD has announced a shake-up of its senior management, as it positions itself to grow opportunities in wealth, mergers and acquisitions, and venture capital. Marwan Hadi, who is head of retail banking, takes over as group head of retail banking and wealth management from Suvo Sarkar, who will retire after a […]

Dubai’s DMCC launches gaming centre to cash in on $1.8bln gaming industry

Dubai Multi Commodities Centre (DMCC) has launched a its own gaming centre to tap into the region’s AED 1.8 billion gaming industry, which is expected to reach $5 billion by 2025. DMCC, located in Jumeirah Lake Towers (JLT), said it is currently home to 50 gaming companies, including developers and producers, as well as e-sports […]

DP World celebrates its latest milestone with 100,000th employee

  DP World celebrated its latest milestone this week, passing 100,000 employees globally, as the company continues its journey from a Dubai-based port operator to a truly global, end-to-end logistics provider. Fatima Alburaimi, a 28-year-old Emirati national was welcomed as the company’s 100,000th employee. She joins DT World, a trade solutions service developed by DP […]

The Jewels of Emirates kicks off at Expo Khorfakkan for the first time

The Jewels of Emirates exhibition kicked off Thursday in the city of Khorfakkan. The event is organized by the Expo Khorfakkan for the first time with the support of the Sharjah Chamber of Commerce and Industry (SCCI) and under the supervision of Expo Centre Sharjah(ECS). A host of eminent Emirati companies and designers shine brightly […]

Abu Dhabi Chamber signs three MoUs to drive economic growth

As part of its participation in the first edition of Abu Dhabi International Food Exhibition (ADIFE), the Abu Dhabi Chamber of Commerce and Industry (ADCCI) signed three Memoranda of Understanding (MoUs) with local and regional parties, including the Emirates Development Bank, Abu Dhabi Agriculture and Food Safety Authority (ADAFSA), and Arab Authority for Agricultural Investment […]

UAE’s Alpha Dhabi Holding acquires stake in Mykonos-based Nammos Group

UAE-based investment firm Alpha Dhabi Holding has acquired a stake in Greek lifestyle and F&B brand Nammos, as it looks to cash in on the growing food and beverage and lifestyle markets. The deal of undisclosed value is a result of the company’s joint venture with Monterock International, an international investment company with a focus […]

Up in the air: Abu Dhabi-listed Easy Lease plans for drone delivery service

Abu Dhabi has moved a step closer to having delivery drones buzzing across its skies: Motorcycle-leasing company Easy Lease has teamed up with drone technology company SkyGo to provide package-delivery services. The company said in a statement to the Abu Dhabi Securities Exchange (ADX) that it has signed an MoU with SkyGo, which is the […]

AMEA Power signs $1.1bln green energy projects in Egypt

Dubai-based AMEA Power, a leading renewable energy company in the Middle East, has achieved the financial close to deliver 500MW wind and 500MW solar projects representing $1.1 billion of investment  in Egypt. The deal takes the company’s clean energy portfolio to 2GW in the country. AMEA Power will develop, own and operate the 500MW solar […]