UAE top banks’ profits, margin levels ‘take a hit’ in Q1

  The profitability of the top ten UAE banks has deteriorated marginally by 0.3% in Q1 2022 and return on asset (RoA) remained flat at 1.4% during the quarter compared to Q1 2021 as the sector braces for a slowdown. The country’s 10 largest listed banks are First Abu Dhabi Bank (FAB), Emirates NBD (ENBD), […]

UAE, Ukraine leaders talk post-war reconstruction, food security

The UAE has been invited to take part in the post-war reconstruction of Ukraine by its President, Voldymyr Zelenskiy, who also discussed the possibility of the emirates providing fuel to the war-torn nation. President Zelenskiy, whose country is fighting a war against neighbouring Russian Federation after an invasion which began in February, tweeted last night […]

Air Arabia Abu Dhabi launches city check-in services

Air Arabia Abu Dhabi, the UAE capital’s first low-cost carrier, has announced the introduction of its City Check-in services in Abu Dhabi. The City Check-in service aims to provide passengers with added convenience and flexibility by enabling them to drop off their baggage and collect their boarding pass at a location near them before traveling […]

Alpha Dhabi to invest $2.5bln in Alpha Wave Ventures II Fund

Alpha Dhabi Holding, an Abu Dhabi-based investment holding company, will invest 9.2 billion dirhams ($2.5 billion) in a venture fund launched at the beginning of the year, thus becoming its cornerstone investor. Alpha Wave Ventures II is a $10 billion fund co-managed by Chimera Capital, an Abu Dhabi investment fund, along with US alternative asset […]

Abu Dhabi, Dubai hotels top 2019 Eid performance

Abu Dhabi and Dubai hotels recorded occupancy and average daily rate (ADR) that exceeded the 2019 Eid al-Fitr comparables, according to preliminary data from STR, a leading provider of analytics for the global hospitality industry. When looking at the Eid date (May 2, 2022) in the UAE, Abu Dhabi’s hotel occupancy reached 79.1%, which was […]

Eid hotel occupancy rates in Dubai, Abu Dhabi exceed pre-pandemic levels: STR

The UAE’s hotel industry performed better during this year’s Eid Al Fitr holidays compared to 2019, with occupancy and room rates exceeding pre-pandemic levels, according to hospitality consultancy STR. Abu Dhabi hotels had an average occupancy level of 79.1 percent last May 2, which was 4.5 percent higher than the Eid date two years ago […]

UAE: Gold prices slip as dollar recovers; 24K opens at $59.69 per gram in Dubai

Gold prices fell on Wednesday morning as the dollar recovered slightly, piling pressure on greenback-priced bullion along with firm Treasury yields and an aggressive inflation stance by the US Federal Reserve chief. Spot gold dropped 0.25% to $1,810.19 per ounce at 9.15am UAE time. In the UAE, precious metal prices fell in line with global […]

Suhail Al Mazrouei opens 16th Middle East Rail conference

 Under the patronage of H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, Suhail Al Mazrouei, Minister of Energy and Infrastructure, accompanied by Shadi Malak, CEO of Etihad Rail, inaugurated the 16th edition of the Middle East Rail conference. Held in partnership with Etihad Rail, the Ministry of Energy […]

UAE: How agriculture improved under the leadership of Sheikh Khalifa

  The UAE government, under the leadership of the late Sheikh Khalifa bin Zayed Al Nahyan, supported the agricultural sector with a focus on promoting the cultivation of various food products to improve food security. The UAE is located in an arid zone and desert environment accounts for more than three quarters of its total […]

How Ghadan 21 launched by Sheikh Mohamed protected Abu Dhabi from crises

UAE – Ghadan 21, launched in 2019 by the UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan, ensured that the Emirates’ economy and its people are well-shielded from the internal and external shocks and crises including the Covid-19 pandemic. The Dh50 billion programme supported and delivered the transformation of the Emirate’s economy, knowledge […]