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BUSINESS
May 20, 2022
VIDEO: The rising profile of India's Adani Group in the Middle East

The market capitalization of the Adani Group is estimated to be $215 billion

RENEWABLE ENERGY

Masdar to develop Southeast Asia’s largest floating solar plant

Masdar to develop Southeast Asia’s largest floating solar plant
Masdar to develop Southeast Asia’s largest floating solar plant
FINANCIAL SERVICES

CBUAE revokes licence of 'Omda Exchange'

CBUAE revokes licence of 'Omda Exchange'
CBUAE revokes licence of 'Omda Exchange'
REAL ESTATE

Modon awards $1.4bln contract for Hudayriyat Island housing projects

Modon awards $1.4bln contract for Hudayriyat Island housing projects
Modon awards $1.4bln contract for Hudayriyat Island housing projects
REAL ESTATE

57,000 new units in Riyadh’s 2026-27 residential pipeline, says report

57,000 new units in Riyadh’s 2026-27 residential pipeline, says report
57,000 new units in Riyadh’s 2026-27 residential pipeline, says report
HEALTHTECH

M42 committed to sustainable future of global health from Abu Dhabi to world

M42 committed to sustainable future of global health from Abu Dhabi to world
M42 committed to sustainable future of global health from Abu Dhabi to world
ARTIFICIAL INTELLIGENCE

AI adoption reaches 91% in Mideast hospitality: PwC

AI adoption reaches 91% in Mideast hospitality: PwC
AI adoption reaches 91% in Mideast hospitality: PwC
TRANSPORT

Saudi Cabinet approves high-speed electric train project linking Kingdom, State of Qatar

Saudi Cabinet approves high-speed electric train project linking Kingdom, State of Qatar
Saudi Cabinet approves high-speed electric train project linking Kingdom, State of Qatar

AVIATION

AVIATION

AirCairo expands TPConnects Astra partnership

AirCairo expands TPConnects Astra partnership
AirCairo expands TPConnects Astra partnership
AVIATION

Cluster2 launches direct flights from Muscat to Taif

Cluster2 launches direct flights from Muscat to Taif
Cluster2 launches direct flights from Muscat to Taif
AIRLINES

Flynas launches direct flights between Jeddah and Entebbe

Flynas launches direct flights between Jeddah and Entebbe
Flynas launches direct flights between Jeddah and Entebbe
AIRLINES

Kuwait Airways to launch operations to Sphinx in January

Kuwait Airways to launch operations to Sphinx in January
Kuwait Airways to launch operations to Sphinx in January

BANKING & INSURANCE

LOANS

Mashreq closes $2bln dual tranche syndicated term loan facilities

Mashreq closes $2bln dual tranche syndicated term loan facilities
Mashreq closes $2bln dual tranche syndicated term loan facilities
FINANCIAL SERVICES

El-Sisi issues decree forming CBE board for 1-year term

El-Sisi issues decree forming CBE board for 1-year term
El-Sisi issues decree forming CBE board for 1-year term
ECONOMY

Nigeria’s banking sector recapitalisation

Nigeria’s banking sector recapitalisation
Nigeria’s banking sector recapitalisation

COMMODITIES

ENERGY

Iraq says gas supplies from Iran have been halted

Iraq says gas supplies from Iran have been halted
Iraq says gas supplies from Iran have been halted
GOLD

Gold extends record run while silver joins rally to new high

Gold extends record run while silver joins rally to new high
Gold extends record run while silver joins rally to new high
ENERGY

Archer extends drilling, maintenance contract with Aker BP

Archer extends drilling, maintenance contract with Aker BP
Archer extends drilling, maintenance contract with Aker BP
OIL

Kuwait oil price up $1.25 to $60.49 pb - KPC

Kuwait oil price up $1.25 to $60.49 pb - KPC
Kuwait oil price up $1.25 to $60.49 pb - KPC

CURRENCIES

CURRENCIES

China's yuan climbs to 15-month high, overcoming weak PBOC fixing

China's yuan climbs to 15-month high, overcoming weak PBOC fixing
China's yuan climbs to 15-month high, overcoming weak PBOC fixing
FOREX

Yen strengthens in thin trade amid intervention threat

Yen strengthens in thin trade amid intervention threat
Yen strengthens in thin trade amid intervention threat
FOREX

Frail yen whipped around as intervention threat swirls

Frail yen whipped around as intervention threat swirls
Frail yen whipped around as intervention threat swirls
ECONOMY

Dire year for dollar has little light at end of tunnel in 2026

Dire year for dollar has little light at end of tunnel in 2026
Dire year for dollar has little light at end of tunnel in 2026

DIGITAL ASSETS

CRYPTOCURRENCY

Coinbase doubles down on prediction markets with deal for The Clearing Company

Coinbase doubles down on prediction markets with deal for The Clearing Company
Coinbase doubles down on prediction markets with deal for The Clearing Company
CRYPTOCURRENCY

Strategy and bitcoin-buying firms face wider exclusion from stock indexes

CRYPTOCURRENCY

Coinbase appoints UK ex-finance minister George Osborne to run advisory council

INVESTMENT

Egypt to launch unified digital business platform to streamline procedures, cut timelines: El-Khatib

CRYPTOCURRENCY

Coinbase pushes into stock trading, event contracts as retail battle heats up

Coinbase pushes into stock trading, event contracts as retail battle heats up
Coinbase pushes into stock trading, event contracts as retail battle heats up
CRYPTOCURRENCY

Crypto investors show caution, shift to new strategies after crash

Crypto investors show caution, shift to new strategies after crash
Crypto investors show caution, shift to new strategies after crash

ENERGY

ENERGY

Nigeria: TCN increases wheeling capacity to 8,700MW

ENERGY

Vallourec, Geostock partner on energy storage solutions

ENERGY

Nigeria: Heirs Energies agrees $750mln Afreximbank financing to drive long-term growth

Nigeria: Heirs Energies agrees $750mln Afreximbank financing to drive long-term growth
Nigeria: Heirs Energies agrees $750mln Afreximbank financing to drive long-term growth

FINTECH

FINTECH

South African fintech Bridgement earns global recognition as SME business loan innovation accelerates

South African fintech Bridgement earns global recognition as SME business loan innovation accelerates
South African fintech Bridgement earns global recognition as SME business loan innovation accelerates
FINTECH

Qatar Central Bank announces acceptance of 'HIMYAN' card in Kuwait

Qatar Central Bank announces acceptance of 'HIMYAN' card in Kuwait
Qatar Central Bank announces acceptance of 'HIMYAN' card in Kuwait
FINTECH

UAE-based Qashio launches European HQ in Dublin

UAE-based Qashio launches European HQ in Dublin
UAE-based Qashio launches European HQ in Dublin
FINTECH

Qatar registers over 62mln payment system transactions worth $5.11bln in November

Qatar registers over 62mln payment system transactions worth $5.11bln in November
Qatar registers over 62mln payment system transactions worth $5.11bln in November

HEALTHCARE

AFRICA

The Africa Credit Rating Agency is on its way

The Africa Credit Rating Agency is on its way
The Africa Credit Rating Agency is on its way
ECONOMY

Oman–India CEPA: From signature to shared success

Oman–India CEPA: From signature to shared success
Oman–India CEPA: From signature to shared success
PHARMACEUTICAL

Julphar signs lease agreement for manufacturing facility in Saudi Arabia

Julphar signs lease agreement for manufacturing facility in Saudi Arabia
Julphar signs lease agreement for manufacturing facility in Saudi Arabia
TRAVEL AND TOURISM

MICE sector in Oman delivers $38.9mln return in 2025

REAL ESTATE

New Murabba signs strategic deal with Saudi housing ministry

M&A

Middle East M&A activity surges 260% despite market volatility

INVESTMENT

INVESTMENT

Quantum Investment ups stake in Edita to 48.79%

Quantum Investment ups stake in Edita to 48.79%
Quantum Investment ups stake in Edita to 48.79%
INVESTMENT

SCZONE, Pitcairn Group to build $8mln food industries project

INDUSTRIAL

Egypt: SCZONE, MDC to develop $21mln ready-built factories in Qantara West

INVESTMENT

United Solar gets $30mln investment for polysilicon facility in Oman

TRADE

Oman, Türkiye aim to raise bilateral trade to $5bln over next five years

Oman, Türkiye aim to raise bilateral trade to $5bln over next five years
Oman, Türkiye aim to raise bilateral trade to $5bln over next five years
TRADE

New Zealand concludes FTA with India with aim to double trade

New Zealand concludes FTA with India with aim to double trade
New Zealand concludes FTA with India with aim to double trade

M&A

ACQUISITION

Morocco's Akdital to acquire Tunisia's Taoufik Hospitals Group

Morocco's Akdital to acquire Tunisia's Taoufik Hospitals Group
Morocco's Akdital to acquire Tunisia's Taoufik Hospitals Group
ACQUISITION

SOCAR signs deal to buy Gama Enerji gas plant in Turkey for $225mln

SOCAR signs deal to buy Gama Enerji gas plant in Turkey for $225mln
SOCAR signs deal to buy Gama Enerji gas plant in Turkey for $225mln
ACQUISITION

Bilfinger acquires parts of Türkiye-based Teknokon Group

Bilfinger acquires parts of Türkiye-based Teknokon Group
Bilfinger acquires parts of Türkiye-based Teknokon Group

REAL ESTATE

REAL ESTATE

UAE: Major Developments launches new luxury residences on Marjan Beach

UAE: Major Developments launches new luxury residences on Marjan Beach
UAE: Major Developments launches new luxury residences on Marjan Beach
REAL ESTATE

AfDB and Nedbank secure multi-billion funding to reshape housing in Africa

REAL ESTATE

Bahrain to deliver 7,000 housing services to citizens

REAL ESTATE

Oman: 52 housing units project under way in al Hallaniyat Islands

REAL ESTATE

Qatar: Residential market activity remains robust amid strong transaction growth

Qatar: Residential market activity remains robust amid strong transaction growth
Qatar: Residential market activity remains robust amid strong transaction growth
REAL ESTATE

Global Partners unveils major residential masterplan at Dubai Creek

Global Partners unveils major residential masterplan at Dubai Creek
Global Partners unveils major residential masterplan at Dubai Creek

RETAIL & CONSUMER

RETAIL

Dubai Customs, Gulf BPG enhance cooperation to protect intellectual property

Dubai Customs, Gulf BPG enhance cooperation to protect intellectual property
Dubai Customs, Gulf BPG enhance cooperation to protect intellectual property
RETAIL

Consumer goods firms cut CEO tenures short in push for growth

RETAIL

South Africa: Pick n Pay Smart Shopper unveils $416.4mln savings amidst inflation crisis

RETAIL

Lulu further strengthens Jeddah presence with opening its first store at Aziz Mall, marking its partnership with Cenomi

Lulu further strengthens Jeddah presence with opening its first store at Aziz Mall, marking its partnership with Cenomi
Lulu further strengthens Jeddah presence with opening its first store at Aziz Mall, marking its partnership with Cenomi

SOVEREIGN WEALTH FUNDS

TOURISM

Saudi PIF company opens Alsirah Gardens in Madinah

Saudi PIF company opens Alsirah Gardens in Madinah
Saudi PIF company opens Alsirah Gardens in Madinah
EDUCATION

ADQ, Gates Foundation partner to transform foundational learning outcomes in sub-Saharan Africa

ADQ, Gates Foundation partner to transform foundational learning outcomes in sub-Saharan Africa
ADQ, Gates Foundation partner to transform foundational learning outcomes in sub-Saharan Africa
SWF

Oman wealth fund unit ITHCA inks investment deal with Saudi Vision Venture

Oman wealth fund unit ITHCA inks investment deal with Saudi Vision Venture
Oman wealth fund unit ITHCA inks investment deal with Saudi Vision Venture
ACQUISITION

JLL to acquire significant stake in PIF-owned FMTECH

JLL to acquire significant stake in PIF-owned FMTECH
JLL to acquire significant stake in PIF-owned FMTECH

TECHNOLOGY & TELECOM

TECHNOLOGY

Big tech's depreciation games are a hidden risk to watch in 2026

Big tech's depreciation games are a hidden risk to watch in 2026
Big tech's depreciation games are a hidden risk to watch in 2026
TECHNOLOGY

Nvidia aims to begin H200 chip shipments to China by mid-February, sources say

Nvidia aims to begin H200 chip shipments to China by mid-February, sources say
Nvidia aims to begin H200 chip shipments to China by mid-February, sources say
TECHNOLOGY

Elon Musk becomes first person worth $700bln following pay package ruling

Elon Musk becomes first person worth $700bln following pay package ruling
Elon Musk becomes first person worth $700bln following pay package ruling
TECHNOLOGY

UAE President meets Elon Musk

UAE President meets Elon Musk
UAE President meets Elon Musk

TRANSPORT & LOGISTICS

TRANSPORT

Sharjah Police launch new plate category for classic vehicles, motorcycles

Sharjah Police launch new plate category for classic vehicles, motorcycles
Sharjah Police launch new plate category for classic vehicles, motorcycles
TRANSPORT

Uber, Lyft to test Baidu robotaxis in UK from next year

Uber, Lyft to test Baidu robotaxis in UK from next year
Uber, Lyft to test Baidu robotaxis in UK from next year
LOGISTICS

UAE: MYCRANE Trading to receive first stock in January

UAE: MYCRANE Trading to receive first stock in January
UAE: MYCRANE Trading to receive first stock in January

TRAVEL & TOURISM

F&B

Oaks Ibn Battuta Gate hotel Dubai to launch new F&B outlets

Oaks Ibn Battuta Gate hotel Dubai to launch new F&B outlets
Oaks Ibn Battuta Gate hotel Dubai to launch new F&B outlets
TOURISM

Qatar Tourism welcomes two maiden calls at Doha Port

Qatar Tourism welcomes two maiden calls at Doha Port
Qatar Tourism welcomes two maiden calls at Doha Port
TOURISM

Dubai Municipality announces region’s first integrated RV route

Dubai Municipality announces region’s first integrated RV route
Dubai Municipality announces region’s first integrated RV route
TRAVEL AND TOURISM

Belarus proposes tourism cluster in Oman

Belarus proposes tourism cluster in Oman
Belarus proposes tourism cluster in Oman

MORE ON BUSINESS

UTILITIES

Empower: Sustainable district cooling systems underpin Dubai’s new vertical expansion

Empower: Sustainable district cooling systems underpin Dubai’s new vertical expansion
Empower: Sustainable district cooling systems underpin Dubai’s new vertical expansion
MARITIME

Suez canal authority says two CMA CGM vessels passed through the canal on Tuesday

Suez canal authority says two CMA CGM vessels passed through the canal on Tuesday
Suez canal authority says two CMA CGM vessels passed through the canal on Tuesday
HYDROGEN

Lummus, Advanced Ionics launch green hydrogen pilot plant

Lummus, Advanced Ionics launch green hydrogen pilot plant
Lummus, Advanced Ionics launch green hydrogen pilot plant
ARTIFICIAL INTELLIGENCE

AI not a threat, but the engine for a new generation of entrepreneurs

AI not a threat, but the engine for a new generation of entrepreneurs
AI not a threat, but the engine for a new generation of entrepreneurs
RENEWABLE ENERGY

Abu Qir Fertilizers obtains EgyptERA’s nod for solar power project

Abu Qir Fertilizers obtains EgyptERA’s nod for solar power project
Abu Qir Fertilizers obtains EgyptERA’s nod for solar power project
AIRLINES

Pakistan draws three bids in second televised privatisation for national carrier PIA

Pakistan draws three bids in second televised privatisation for national carrier PIA
Pakistan draws three bids in second televised privatisation for national carrier PIA
ACQUISITION

First Avenue acquires new tower in Riyadh for over $82mln

First Avenue acquires new tower in Riyadh for over $82mln
First Avenue acquires new tower in Riyadh for over $82mln
AIRLINES

Gulf Air expands codeshare agreement with Turkish Airlines

Gulf Air expands codeshare agreement with Turkish Airlines
Gulf Air expands codeshare agreement with Turkish Airlines
REAL ESTATE

Abu Dhabi: Emirates Stallions unit announces sell-out of Radisson Residences Phase 1

Abu Dhabi: Emirates Stallions unit announces sell-out of Radisson Residences Phase 1
Abu Dhabi: Emirates Stallions unit announces sell-out of Radisson Residences Phase 1