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  • UAE
    Dubai’s DP World is delisting and returning to private ownership

    DP World, one of the world’s largest port operators, is delisting from the Nasdaq Dubai and returning to fully private ownership, the company announced Monday. The UAE-owned port behemoth’s parent company, Port and Free Zone World, has offered to buy the 19.55% of DP World’s shares traded on the Nasdaq Dubai for $16.75 a share, representing a 29% premium on its closing price of $13 per share on Sunday, the statement said.

  • Entrepreneurship
    Saudi Arabia vs Dubai Could Be the Gulf’s Next Big Rivalry

    The growing number of startups in Riyadh reflects an undeclared competition between two Gulf allies that’s set to intensify this year, realigning the economics of a region striving to reduce its reliance on oil. Dubai has staked its economic recovery on World Expo 2020, a six-month showcase of global innovation expected to attract some 25 million visitors, while investing billions of dollars in infrastructure. It’s also a big year for Saudi Arabia, which takes on the chairmanship of the Group of 20 major economies and plans a series of events to promote its own breakneck transformation.

  • GCC
    Maybank Islamic to arrange Gulf sukuk, opens Dubai branch

    Maybank Islamic aims to arrange six dollar sukuk deals in the Gulf in 2020, including at least one sovereign issuance, its CEO said on Monday, as the bank opened a branch in Dubai, its first outside of Malaysia. The lender, which the CEO said is the largest Islamic bank by assets in the ASEAN group of Southeast Asian countries, is the Islamic banking arm of Malayan Banking Bhd (Maybank) , Malaysia’s largest lender by assets.

  • UAE Economy
    Dubai’s Jobs Vanish at the Fastest Pace in a Decade

    Across the U.A.E. as a whole -- of which Dubai is a part -- business conditions fell into contraction last month for the first time ever. Already under pressure from regional geopolitical tensions, Dubai’s travel and tourism industry actually showed a “modest improvement” in January, IHS Markit said. But now it faces disruptions because of the viral outbreak in China.

  • Dubai International Airport
    Dubai airport passenger traffic drops in 2019, first time ever

    The world’s busiest airport for international travelers since 2014 blamed 3.1% drop on a temporary runway closure, the collapse of India’s Jet Airways (JET.NS), and the worldwide grounding of the Boeing (BA.N) 737 MAX.

  • Blockchain
    Dubai blockchain market to reach $119 mn in 5 years

    Reportedly, 1.4 percent of the total blockchain companies in the world are based in Dubai. While there are 8000 registered blockchain companies worldwide, 114 are in Dubai.

  • Saudi-UAE
    Saudi Crown Prince Mohammed bin Salman visits Expo 2020 with Dubai’s Sheikh Hamdan

    Crown Prince Mohammed bin Salman visited the Expo 2020 site in Dubai on Thursday with Crown Prince of Dubai Sheikh Hamdan bin Mohammed Al-Maktoum. The Saudi crown prince was briefed on the iconic Al-Wasl Dome where all the main events will take place, and listened to an explanation of the upcoming world expo's design.

  • Saudia
    Dubai Airshow: Saudi Airlines Signs Two Agreements With Boeing, Honeywell

    Saudi Airlines signed two agreements with Boeing and Honeywell to provide technical support services in the field of flight planning and auxiliary energy. It has agreed with Boeing to renew its digital navigation map service for the next five years, the Saudi Press Agency reported.

  • Aramco IPO
    Saudi Aramco to meet investors in Dubai and Abu Dhabi: sources

    The state oil giant and its advisors are hosting meetings at Dubai’s Ritz Carlton Hotel at the Dubai International Financial Centre on Nov. 24, said an investor who has seen the invitation.

  • Dubai Air Show
    Saudi companies display latest technologies at Dubai Airshow

    Among the major Saudi companies in the event include the Saudi Arabian Military Industries (SAMI), fully owned by the Public Investment Fund, which has operations from aeronautics, land systems, naval systems, weapons and missiles and defense electronics.