Innovation, expansion spur Gulf retail after pandemic
GCC retail sector evolves dynamically, blending innovation with tradition to woo investment, says Khalifa Bin Braik of Majid Al Futtaim...Business
On 40th anniversary, Abu Dhabi Airport vows improved services
Abu Dhabi Airports marked the 40th anniversary of the inauguration of Abu Dhabi International Airport (AUH) on Sunday, local media...The Airport was inaugurated on 2nd January 1982, with Etihad becoming the national carrier and the home airline in 2003.
AUH launched the Smart Travel System in 2016, the first of its kind in the region, to ease passenger processing and experience.
Record cargo shipped through Egypt’s Suez Canal last year
Egypt's Suez Canal Authority said the key waterway netted record revenues last year, despite the coronavirus pandemic and a six-day...Connecting the Red Sea and the Mediterranean, the canal accounts for roughly 10 percent of global maritime trade and is a source of much-needed foreign currency for Egypt.
The number of ships using the canal rose from 18,830 in 2020 to 20,694 in 2021, or more than 56 ships per day.
Dubai government approves budget for 2022-24
Sheikh Mohammed bin Rashid Al Maktoum said the budget supports the Dubai Strategic Plan 2030 and places Dubai at the...The budget features an expenditure of AED181 billion, with around AED60 billion expenditures and AED57.55 billion in expected revenues for 2022.
Economy, transportation and infrastructure account for 42 percent of the expected expenditure, followed by social development (30 percent).
Emaar Development CEO resigns
Bader Hareb resigned with effect from December 30 for ‘personal reasons.’The resignation was announced in a letter addressed to DFM Chief Executive Officer Hamed Ahmed Ali
The letter did not give any detail of a successor to Hareb, or an interim appointment till one was named
Iran gas platform out of service after catching fire
The gas transmission pipeline of platform 16 of South Pars gas field started leaking on the seabed.Gas leaking from the platform caught fire after a lightning strike
The platform is now 'not operational' and repairs were underway
Covid-19 clouds hover over world’s New Year party
As the year drew to a close, the emergence of the Omicron variant pushed the number of daily new Covid-19...As the pandemic enters its third year, it still dominates life around the globe
Seoul to San Francisco, new year celebrations were canceled or curtailed
Gulf markets end 2021 on positive note
The Gulf financial markets ended 2021 on the rise, waiting to achieve significant gains next year.Rising oil prices and fewer concerns about the impact of the Omicron variant pushed the Saudi stock index up 0.7% this week
The Dubai index had a solid week supported by the rise of the shares of Emaar and several banks
Saudi central bank to use Bloomberg for repo operations from January
Bloomberg's Auction System is a part of Bloomberg's enterprise solution for central banks and government financial agencies.The Saudi central bank has announced that it will use Bloomberg's Auction System from January
It will use the system to conduct repo, reverse repo, and Open Market Operations with locally operating banks
Ikea to hike prices by 9%
The hike is due to pandemic-fueled supply-chain snarls.Ikea faced higher operating costs in North America and Europe
It is now passing on that cost burden to its customers
AD Ports Group revenue grows 22% to US$760mn in 2021
AD Ports Group signed several partnerships to accelerate trade and the development of industry in the UAE and beyond, including...AD Ports Group closed 2021 with the signing of a number of strategic agreements with the Aqaba Development Corporation
The Group received global interest in its issuance of a US$1 billion bond and subsequent listing on the ADX and the LSE
