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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
AVIATION

Dubai South achieves 17% growth in business aviation movements in 2025

Dubai South achieves 17% growth in business aviation movements in 2025
Dubai South achieves 17% growth in business aviation movements in 2025
AVIATION

Riyadh's King Salman International Airport signs 7 mixed-use projects deals

Riyadh's King Salman International Airport signs 7 mixed-use projects deals
Riyadh's King Salman International Airport signs 7 mixed-use projects deals
SME

Oman’s SME sector grows strongly, reaching 130,359 firms

Oman’s SME sector grows strongly, reaching 130,359 firms
Oman’s SME sector grows strongly, reaching 130,359 firms
INVESTMENT

Barclays eyes investment banking uplift as it raises targets: IFR

Barclays eyes investment banking uplift as it raises targets: IFR
Barclays eyes investment banking uplift as it raises targets: IFR

AVIATION

AVIATION

No merger between Oman Air and SalamAir; government "purchase” discussed

No merger between Oman Air and SalamAir; government \"purchase” discussed
No merger between Oman Air and SalamAir; government \"purchase” discussed
AVIATION

AirAsia X unveils Kuala Lumpur-Bahrain-London route, establishing Middle Eastern hub

AirAsia X unveils Kuala Lumpur-Bahrain-London route, establishing Middle Eastern hub
AirAsia X unveils Kuala Lumpur-Bahrain-London route, establishing Middle Eastern hub
AVIATION

Dubai's DXB airport forecast to handle nearly 100mln passengers this year

Dubai's DXB airport forecast to handle nearly 100mln passengers this year
Dubai's DXB airport forecast to handle nearly 100mln passengers this year
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

BANKING & INSURANCE

REAL ESTATE

FABMISR, Coldwell Banker Egypt team up to facilitate mortgage solutions

FABMISR, Coldwell Banker Egypt team up to facilitate mortgage solutions
FABMISR, Coldwell Banker Egypt team up to facilitate mortgage solutions
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
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

COMMODITIES

ZIMBABWE

Zimbabwe to build Africa’s first lithium sulfate plant

Zimbabwe to build Africa’s first lithium sulfate plant
Zimbabwe to build Africa’s first lithium sulfate plant
INVESTMENT

Egyptian Petroleum minister approves FY2026/27 investment plans for Alexandria Petroleum, Amreya Petroleum

Egyptian Petroleum minister approves FY2026/27 investment plans for Alexandria Petroleum, Amreya Petroleum
Egyptian Petroleum minister approves FY2026/27 investment plans for Alexandria Petroleum, Amreya Petroleum
METALS

Egypt silver prices steady locally, global prices edge higher

Egypt silver prices steady locally, global prices edge higher
Egypt silver prices steady locally, global prices edge higher
GOLD

Egypt gold prices tick higher on modest global bullion rise

Egypt gold prices tick higher on modest global bullion rise
Egypt gold prices tick higher on modest global bullion rise

CURRENCIES

CURRENCIES

Yen jumps on bets for a 'fiscally responsible' Japan; Aussie gets hawkish lift

Yen jumps on bets for a 'fiscally responsible' Japan; Aussie gets hawkish lift
Yen jumps on bets for a 'fiscally responsible' Japan; Aussie gets hawkish lift
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

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

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

The blockchain frameworks set to enhance fintech development in 2026
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

ENERGY

ENERGY

Emarat names Burhan Al Hashemi as new CEO

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

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

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

PHARMACEUTICAL

Emirates Drug Establishment, Mubadala Bio sign deal to develop pharmaceutical manufacturing

Emirates Drug Establishment, Mubadala Bio sign deal to develop pharmaceutical manufacturing
Emirates Drug Establishment, Mubadala Bio sign deal to develop pharmaceutical manufacturing
EARNINGS

Burjeel Holdings delivers 39.5% net profit growth in 2025

Burjeel Holdings delivers 39.5% net profit growth in 2025
Burjeel Holdings delivers 39.5% net profit growth in 2025
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

TECHNOLOGY

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

INNOVATION

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

INVESTMENT

INVESTMENT

Oman: Al Buraimi surpasses foovvvd-security targets; investment reaches $161.2mln

Oman: Al Buraimi surpasses foovvvd-security targets; investment reaches $161.2mln
Oman: Al Buraimi surpasses foovvvd-security targets; investment reaches $161.2mln
INVESTMENT

Oman: Governors unveil development drive at Together Forward Forum

INVESTMENT

Brazil’s JBS invests $150mln to build meat export hub in Oman

REAL ESTATE

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

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

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

M&A

ACQUISITION

Saudi’s Ghida Alsultan buys Simple Burger

Saudi’s Ghida Alsultan buys Simple Burger
Saudi’s Ghida Alsultan buys Simple Burger
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

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

Rakez partners with Zoho to equip businesses with key digital tools

Rakez partners with Zoho to equip businesses with key digital tools
Rakez partners with Zoho to equip businesses with key digital tools
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

TRANSPORT & LOGISTICS

TRANSPORT

Saudi Cabinet approves electric high-speed railway link with Qatar

Saudi Cabinet approves electric high-speed railway link with Qatar
Saudi Cabinet approves electric high-speed railway link with Qatar
TRANSPORT

Saudi cabinet clears high-speed electric rail project with Qatar

Saudi cabinet clears high-speed electric rail project with Qatar
Saudi cabinet clears high-speed electric rail project with Qatar
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

TRAVEL & TOURISM

TRAVEL AND TOURISM

Zimbabwe becomes a leading travel destination for Indian tourists in 2026

Zimbabwe becomes a leading travel destination for Indian tourists in 2026
Zimbabwe becomes a leading travel destination for Indian tourists in 2026
HOSPITALITY

Red Sea Global to open phase one of Red Sea and Amaala with 27 hotels by year-end

Red Sea Global to open phase one of Red Sea and Amaala with 27 hotels by year-end
Red Sea Global to open phase one of Red Sea and Amaala with 27 hotels by year-end
CONSTRUCTION

Mohammed bin Rashid approves development of Al Layan Oasis

Mohammed bin Rashid approves development of Al Layan Oasis
Mohammed bin Rashid approves development of Al Layan Oasis
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

MORE ON BUSINESS

ARTIFICIAL INTELLIGENCE

ByteDance developing AI chip, in manufacturing talks with Samsung, sources say

ByteDance developing AI chip, in manufacturing talks with Samsung, sources say
ByteDance developing AI chip, in manufacturing talks with Samsung, sources say
PRECIOUS METALS

Gold, silver climb as US yields fall on softer retail sales

Gold, silver climb as US yields fall on softer retail sales
Gold, silver climb as US yields fall on softer retail sales
OIL

Oil gains on US–Iran tensions, better India demand

Oil gains on US–Iran tensions, better India demand
Oil gains on US–Iran tensions, better India demand
HEALTHCARE

Thumbay Group launches integrated medical city in Dubai

Thumbay Group launches integrated medical city in Dubai
Thumbay Group launches integrated medical city in Dubai
OIL AND GAS

Saudi, US firms to partner on northeast Syria energy project

Saudi, US firms to partner on northeast Syria energy project
Saudi, US firms to partner on northeast Syria energy project
OIL

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

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

ADI Foundation, Apeiro partner to advance healthcare claims verification project

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