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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

REAL ESTATE

DIFC unveils first residential ownership opportunity in new Zabeel District

DIFC unveils first residential ownership opportunity in new Zabeel District
DIFC unveils first residential ownership opportunity in new Zabeel District
TRANSPORT

Saudi Arabia extends O&M contract for Haramain high-speed railway

Saudi Arabia extends O&M contract for Haramain high-speed railway
Saudi Arabia extends O&M contract for Haramain high-speed railway
POWER

Egypt invests $565mln to upgrade power transmission network in FY2025

Egypt invests $565mln to upgrade power transmission network in FY2025
Egypt invests $565mln to upgrade power transmission network in FY2025
ENERGY

Emarat names Burhan Al Hashemi as new CEO

Emarat names Burhan Al Hashemi as new CEO
Emarat names Burhan Al Hashemi as new CEO
INSURANCE

Mutakamela Insurance’s net profits drop 51% in 2025

Mutakamela Insurance’s net profits drop 51% in 2025
Mutakamela Insurance’s net profits drop 51% in 2025
HOSPITALITY

Oman’s hotel revenues for 3 to 5 star category reach $773mln in 2025

Oman’s hotel revenues for 3 to 5 star category reach $773mln in 2025
Oman’s hotel revenues for 3 to 5 star category reach $773mln in 2025
TRANSPORT

UAE: Integrated Transport Centre signs MoUs to advance smart mobility

UAE: Integrated Transport Centre signs MoUs to advance smart mobility
UAE: Integrated Transport Centre signs MoUs to advance smart mobility

AVIATION

AVIATION

Sharjah Airport announces gradual resumption of flights following improved weather conditions

Sharjah Airport announces gradual resumption of flights following improved weather conditions
Sharjah Airport announces gradual resumption of flights following improved weather conditions
EARNINGS

Ethiopian Airlines half-year revenue up 14% from previous year

Ethiopian Airlines half-year revenue up 14% from previous year
Ethiopian Airlines half-year revenue up 14% from previous year
EARNINGS

Jazeera Airways posts record $80mln profit in 2025

Jazeera Airways posts record $80mln profit in 2025
Jazeera Airways posts record $80mln profit in 2025
AVIATION

Saudi: EOI sought for developing international airport in Qassim

Saudi: EOI sought for developing international airport in Qassim
Saudi: EOI sought for developing international airport in Qassim

BANKING & INSURANCE

EARNINGS

CIB posts 49% YoY rise in consolidated profits in 2025

CIB posts 49% YoY rise in consolidated profits in 2025
CIB posts 49% YoY rise in consolidated profits in 2025
FINANCIAL SERVICES

Financial Markets Tribunal upholds DFSA’s decision to impose fine on Al Ramz Capital

Financial Markets Tribunal upholds DFSA’s decision to impose fine on Al Ramz Capital
Financial Markets Tribunal upholds DFSA’s decision to impose fine on Al Ramz Capital
EARNINGS

ADNIC profits reach $130.7mln in 2025

ADNIC profits reach $130.7mln in 2025
ADNIC profits reach $130.7mln in 2025

COMMODITIES

OIL

Oil gains as traders weigh supply risks linked to US–Iran tensions

Oil gains as traders weigh supply risks linked to US–Iran tensions
Oil gains as traders weigh supply risks linked to US–Iran tensions
GOLD

Gold ticks lower on increased risk appetite; investors await U.S. economic data

Gold ticks lower on increased risk appetite; investors await U.S. economic data
Gold ticks lower on increased risk appetite; investors await U.S. economic data
OIL

Kuwaiti oil barrel price down 98 cents to $65.18

Kuwaiti oil barrel price down 98 cents to $65.18
Kuwaiti oil barrel price down 98 cents to $65.18
POWER

Clearwater Analytics launches power, gas risk platform

Clearwater Analytics launches power, gas risk platform
Clearwater Analytics launches power, gas risk platform

CURRENCIES

FOREX

Dollar soft ahead of US data, yen holds onto its gains after election

Dollar soft ahead of US data, yen holds onto its gains after election
Dollar soft ahead of US data, yen holds onto its gains after election
CURRENCIES

Sterling slides on Starmer crisis and rate cut bets

Sterling slides on Starmer crisis and rate cut bets
Sterling slides on Starmer crisis and rate cut bets
FOREX

Yen strengthens as intervention risk trips up Takaichi trade

Yen strengthens as intervention risk trips up Takaichi trade
Yen strengthens as intervention risk trips up Takaichi trade
CRYPTOCURRENCY

Bitcoin claws up to $65,000, set for largest weekly drop since late 2022

Bitcoin claws up to $65,000, set for largest weekly drop since late 2022
Bitcoin claws up to $65,000, set for largest weekly drop since late 2022

DIGITAL ASSETS

CRYPTOCURRENCY

Bitcoin loses Trump-era gains as crypto market volatility signals uncertainty

Bitcoin loses Trump-era gains as crypto market volatility signals uncertainty
Bitcoin loses Trump-era gains as crypto market volatility signals uncertainty
CRYPTOCURRENCY

Bitcoin slump shakes companies that jumped on crypto-hoarding bandwagon

CRYPTOCURRENCY

Bitcoin on the cusp of $60,000 as investors flee risky bets

BLOCKCHAIN

The blockchain frameworks set to enhance fintech development in 2026

CRYPTOCURRENCY

Bitcoin slumps with key $70,000 level in sight

Bitcoin slumps with key $70,000 level in sight
Bitcoin slumps with key $70,000 level in sight
PRECIOUS METALS

Precious metal price fluctuations could test fast-growing gold token market

Precious metal price fluctuations could test fast-growing gold token market
Precious metal price fluctuations could test fast-growing gold token market

ENERGY

ENERGY

Empower's profit up 10.5% in 2025; revenue soars to $925mln

ENERGY

Al Jomaih & Shell Lubricating Oil Company, NANCO sign strategic lubricants deal

ENERGY

Hitachi Energy opens new Cairo office

Hitachi Energy opens new Cairo office
Hitachi Energy opens new Cairo office

FINTECH

FINTECH

Instant payments are here to stay in Oman

Instant payments are here to stay in Oman
Instant payments are here to stay in Oman
FINTECH

The rise of soft POS, Egypt’s push toward a less-cash society

The rise of soft POS, Egypt’s push toward a less-cash society
The rise of soft POS, Egypt’s push toward a less-cash society
FINTECH

Egypt’s FRA allows brokerage services to be marketed via e-payment apps

Egypt’s FRA allows brokerage services to be marketed via e-payment apps
Egypt’s FRA allows brokerage services to be marketed via e-payment apps
FINTECH

Egypt’s FRA launches digital factoring portal to curb financing risks

Egypt’s FRA launches digital factoring portal to curb financing risks
Egypt’s FRA launches digital factoring portal to curb financing risks

HEALTHCARE

HEALTHCARE

Jordan: Health, digital economy ministries expand Digital Health Centre services

Jordan: Health, digital economy ministries expand Digital Health Centre services
Jordan: Health, digital economy ministries expand Digital Health Centre services
TENDERS

Oman’s SQU likely to award hospital consultancy contract in Q2 2026

Oman’s SQU likely to award hospital consultancy contract in Q2 2026
Oman’s SQU likely to award hospital consultancy contract in Q2 2026
TECHNOLOGY

Qatar, Germany seek to expand technology, healthcare, AI ties

Qatar, Germany seek to expand technology, healthcare, AI ties
Qatar, Germany seek to expand technology, healthcare, AI ties
INNOVATION

Qatar: Sidra Medicine signs deal with Builders VC MENA to advance healthcare innovation

INVESTMENT

Oman: OIA steps up investments in non-energy sectors

ACQUISITION

UAE’s Albatha acquires majority stake in clinic operator Insights

INVESTMENT

REAL ESTATE

Carlyle to invest $232mln in India's Edelweiss housing finance arm

Carlyle to invest $232mln in India's Edelweiss housing finance arm
Carlyle to invest $232mln in India's Edelweiss housing finance arm
ACQUISITION

Mubadala Capital, TWG Global strike deal to buy Clear Channel for $6.2bln

INVESTMENT

Egypt inks $1bln deals for IL Monte Galala towers, marina in Ain Sokhna

INVESTMENT

Oman: An emerging regional hub for foreign industrial investment

ACQUISITION

Safanad completes sale of top UK care home provider for $1.6bln

Safanad completes sale of top UK care home provider for $1.6bln
Safanad completes sale of top UK care home provider for $1.6bln
FUNDS

Hope Fund announces new identity for Bahrain's HQ Industrial project

Hope Fund announces new identity for Bahrain's HQ Industrial project
Hope Fund announces new identity for Bahrain's HQ Industrial project

M&A

M&A

Egypt: Beltone Capital acquires Baobab Group for $197.6mln

Egypt: Beltone Capital acquires Baobab Group for $197.6mln
Egypt: Beltone Capital acquires Baobab Group for $197.6mln
ACQUISITION

Americana Restaurants adds Al Tawouk to MENA, CIS brand portfolio; acquisition deal worth $21mln unveiled

Americana Restaurants adds Al Tawouk to MENA, CIS brand portfolio; acquisition deal worth $21mln unveiled
Americana Restaurants adds Al Tawouk to MENA, CIS brand portfolio; acquisition deal worth $21mln unveiled
ACQUISITION

Uber to acquire delivery business of Turkey's Getir

Uber to acquire delivery business of Turkey's Getir
Uber to acquire delivery business of Turkey's Getir

REAL ESTATE

REAL ESTATE

DIFC launches first residential project in new Zabeel District

DIFC launches first residential project in new Zabeel District
DIFC launches first residential project in new Zabeel District
REAL ESTATE

Aldar's new project brings Baccarat's crystal heritage to Saadiyat

REAL ESTATE

‘Ajman Municipality’ launches automatic issuance of residential villa building permits

REAL ESTATE

Egypt: Harby Group launches construction of Seven Residence in October Gardens

REAL ESTATE

Nord unveils refined urban sanctuary in Yas Island

Nord unveils refined urban sanctuary in Yas Island
Nord unveils refined urban sanctuary in Yas Island
REAL ESTATE

Danube unveils premium residential development in JVC

Danube unveils premium residential development in JVC
Danube unveils premium residential development in JVC

RETAIL & CONSUMER

RETAIL

Abu Dhabi's Aldar, Mubadala form $2.7bln luxury retail joint venture

Abu Dhabi's Aldar, Mubadala form $2.7bln luxury retail joint venture
Abu Dhabi's Aldar, Mubadala form $2.7bln luxury retail joint venture
RETAIL

Dubai Duty Free records highest-ever January sales of $235mln

RETAIL

Al Emarat Development debuts in Egypt with First Plaza Mall launch

RETAIL

Souq Al Jubail attracts over 5.8mln shoppers in 2025

Souq Al Jubail attracts over 5.8mln shoppers in 2025
Souq Al Jubail attracts over 5.8mln shoppers in 2025

SOVEREIGN WEALTH FUNDS

SWF

Saudi Arabia wealth fund set to announce strategy revamp, sources say

Saudi Arabia wealth fund set to announce strategy revamp, sources say
Saudi Arabia wealth fund set to announce strategy revamp, sources say
ECONOMY

Al-Falih says World Cup and Expo reshaped investment priorities as PIF recalibrates projects

Al-Falih says World Cup and Expo reshaped investment priorities as PIF recalibrates projects
Al-Falih says World Cup and Expo reshaped investment priorities as PIF recalibrates projects
SWF

PIF urges private sector to be bolder as fund shifts from building sectors to scaling growth

PIF urges private sector to be bolder as fund shifts from building sectors to scaling growth
PIF urges private sector to be bolder as fund shifts from building sectors to scaling growth
ARTIFICIAL INTELLIGENCE

IFZA forges ties with IHC unit to advance AI-driven digital services

IFZA forges ties with IHC unit to advance AI-driven digital services
IFZA forges ties with IHC unit to advance AI-driven digital services

TECHNOLOGY & TELECOM

TECHNOLOGY

Robertet inaugurates its regional headquarters at Dubai Science Park

Robertet inaugurates its regional headquarters at Dubai Science Park
Robertet inaugurates its regional headquarters at Dubai Science Park
TECHNOLOGY

UAE launches global partnership with 'Starlink'

UAE launches global partnership with 'Starlink'
UAE launches global partnership with 'Starlink'
TECHNOLOGY

Khazna, Presight sign contract for AI-powered data centre unified command, control platform

Khazna, Presight sign contract for AI-powered data centre unified command, control platform
Khazna, Presight sign contract for AI-powered data centre unified command, control platform
TECHNOLOGY

RAKEZ partners with Zoho to equip businesses with essential digital tools for enhanced operations

RAKEZ partners with Zoho to equip businesses with essential digital tools for enhanced operations
RAKEZ partners with Zoho to equip businesses with essential digital tools for enhanced operations

TRANSPORT & LOGISTICS

TRANSPORT

Baidu, Uber partner to bring Apollo Go autonomous ride-hailing to Dubai

Baidu, Uber partner to bring Apollo Go autonomous ride-hailing to Dubai
Baidu, Uber partner to bring Apollo Go autonomous ride-hailing to Dubai
LOGISTICS

Egytrans, eCom Afrika partner to support Egypt-Africa SME trade

Egytrans, eCom Afrika partner to support Egypt-Africa SME trade
Egytrans, eCom Afrika partner to support Egypt-Africa SME trade
TRANSPORT

Samia pledges rail link to give Uganda access to Indian Ocean

Samia pledges rail link to give Uganda access to Indian Ocean
Samia pledges rail link to give Uganda access to Indian Ocean

TRAVEL & TOURISM

HOSPITALITY

Ellington unveils hospitality-led beachfront destination on Dubai Islands

Ellington unveils hospitality-led beachfront destination on Dubai Islands
Ellington unveils hospitality-led beachfront destination on Dubai Islands
TRAVEL AND TOURISM

Oman welcomes 3.9mln visitors as tourism momentum builds

Oman welcomes 3.9mln visitors as tourism momentum builds
Oman welcomes 3.9mln visitors as tourism momentum builds
TOURISM

Saudi tourism aims to double GDP contribution to 10%

Saudi tourism aims to double GDP contribution to 10%
Saudi tourism aims to double GDP contribution to 10%
HOSPITALITY

UAE hospitality sector caps strong 2025 on tourism boom

UAE hospitality sector caps strong 2025 on tourism boom
UAE hospitality sector caps strong 2025 on tourism boom

MORE ON BUSINESS

OIL

Egypt tells international oil firms to double output by 2030, Energean CEO says

Egypt tells international oil firms to double output by 2030, Energean CEO says
Egypt tells international oil firms to double output by 2030, Energean CEO says
HEALTHCARE

ADI Foundation, Apeiro partner to advance healthcare claims verification project

SOCIAL MEDIA

TikTok-enabled SMBs add $299.5mln to UAE economy, support 7,000 jobs

TikTok-enabled SMBs add $299.5mln to UAE economy, support 7,000 jobs
TikTok-enabled SMBs add $299.5mln to UAE economy, support 7,000 jobs
UTILITIES

Acwa-led consortium, Syria in desalination development pact

Acwa-led consortium, Syria in desalination development pact
Acwa-led consortium, Syria in desalination development pact
FINANCIAL SERVICES

Bosta, Mastercard collaborate to support SMEs, boost e-commerce

Bosta, Mastercard collaborate to support SMEs, boost e-commerce
Bosta, Mastercard collaborate to support SMEs, boost e-commerce
ECONOMY

UAE banking outlook shifts to positive, despite low profitability – Moody’s

UAE banking outlook shifts to positive, despite low profitability – Moody’s
UAE banking outlook shifts to positive, despite low profitability – Moody’s
HEALTHCARE

UAEIMC unveils strategic vision to drive healthcare sustainability at World Health Expo 2026

UAEIMC unveils strategic vision to drive healthcare sustainability at World Health Expo 2026
UAEIMC unveils strategic vision to drive healthcare sustainability at World Health Expo 2026
EQUITIES

DEWA reports $2.48bln net profit after tax in 2025

DEWA reports $2.48bln net profit after tax in 2025
DEWA reports $2.48bln net profit after tax in 2025
WATER

Shenandoah field sets new benchmark for deepwater production

Shenandoah field sets new benchmark for deepwater production
Shenandoah field sets new benchmark for deepwater production