Lulu opens 72,000 square feet hypermarket in Dubai Mall
Lulu Group, a prominent retail chain, marked its expansion by opening a new branch at the iconic Dubai Mall on Monday. Covering a sprawling 72,000 square feet, this state-of-the-art outlet aims to cater to the needs of millions of visitors to the mall. This latest addition has increased Lulu Group’s store count in Dubai to […]
Expand North Star 2023: A global stage for startups at Dubai Harbour
The surge in international demand has rallied the world’s largest tech and start-up event to scale even higher and bigger in 2023, spearheading a global tech takeover across two Dubai mega venues next month. The 43 rd edition of GITEX GLOBAL will take place from October 16-20, the blockbuster tech showpiece once again reaching full […]
Sovereign wealth fund ADIA optimistic on equities, private credit after turbulent 2022
Sovereign wealth fund Abu Dhabi Investment Authority (ADIA) said it was optimistic about public equities for 2023 after last year’s market rout, driven by high inflation and rising interest rates, weighed on stocks’ valuations, making them more attractive. The fund was also looking at opportunities in the private credit market, as banks become more cautious […]
Dubai attracts greenfield FDI capital of $5.7bn in H1 2023
Dubai reported a 70 per cent year-on-year growth in total foreign direct investment (FDI) projects in the first half of 2023, according to Financial Times ‘fDi Markets’ data, with greenfield FDI projects accounting for 65 per cent of the total. The emirate attracted 511 greenfield projects and climbed to sixth position in FDI capital attraction, […]
DIFC unveils five-year innovation strategy for financial services
Dubai International Financial Centre (DIFC) and Refinitiv have revealed a five-year outlook for innovation in the financial services industry. Following the initial wave of innovation sparked during the pandemic, the global financial services industry continues to see major transformations. Tailored to the evolving preferences and expectations of customers and clients, the high demand for convenient […]
Dubai’s DP World invested $6bn to become supply chain giant
DP World invested more than $6bn to evolve into a comprehensive supply chain player, as the company capitalised on the slow evolution of the supply chain industry to invest in every aspect of the chain, according to CEO, Sultan Ahmed bin Sulayem. Speaking at the 21st Arab Media Forum in Dubai, Bin Sulayem said, “In 2016, […]
Flydubai will launch services to Langkawi and Penang
Dubai-based carrier flydubai will launch a daily service to Langkawi and Penang in Malaysia beginning next year. Flights from Dubai’s Terminal 3 to Penang International airport (PEN) and Langkawi International airport (LGK) will start from February 10, 2024. Its services to Langkawi will operate via a short stop in Penang. The carrier will therefore become […]
UAE’s ADNOC awards multibillion gas expansion contracts
UAE’s ADNOC Group has awarded contracts worth $16.9bn to develop an offshore natural gas field that will operate with net zero carbon dioxide emissions. The two engineering, procurement and construction (EPC) contracts for the Hail and Ghasha Offshore Development project will produce 1.5 billion standard cubic feet per day (bscfd) of gas before the decade’s […]
UAE inaugurates first wind power plants ahead of COP28
The UAE has inaugurated its first wind programme, as the country is stepping up its fight against climate change ahead of the COP28 climate summit later this year. The UAE wind programme builds on the country’s efforts to develop alternative energy sources, which began with the establishment of the region’s first wind power station on […]
ADNOC Distribution to use biofuel to power its UAE vehicle fleet
ADNOC Distribution said its UAE heavy vehicle fleet will be powered by biofuel, a move that is set to reduce carbon dioxide emissions from the fleet by 15 per cent. The fleet of the UAE’s largest operator of fuel stations and convenience stores plays a crucial role in supplying fuels and liquefied petroleum gas (LPG) […]