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  • Saudi Arabia’s flynas launches first direct international flights to AlUla, from Dubai

    Saudi Arabia's low-cost airline flynas is launching its first direct international flights to AlUla International Airport from the UAE and Kuwait from November 19. Domestic routes from Riyadh, Dammam and Jeddah have also been added to the roster. Three direct flights will operate weekly from Dubai to the ancient city while two weekly direct flights will take off from Kuwait City, the airline said. Additionally, there will be four flights a week from Riyadh and three weekly flights from Dammam and Jeddah.

  • U.S. bank Moelis, Emirates NBD hired to advise on IPO of Dubai’s DEWA

    U.S. investment bank Moelis and Dubai lender Emirates NBD have been hired to advise on the initial public offering (IPO) of Dubai Electricity & Water Authority, sources familiar with the matter said. The Dubai government said on Tuesday it was planning a stock market flotation of the utility, among 10 state-backed companies to be listed as part of plans to boost activity on the local bourse.

  • Dubai’s Expo Spurs Tourism, Boosting UAE Business Activity

    Business activity in the United Arab Emirates rose to the highest level in more than two years last month, helped in part by an influx of tourists drawn to Dubai’s Expo 2020 event. A Purchasing Managers’ Index compiled by IHS Markit rose to 55.7 in October from 53.3 in September, above the 50-mark separating growth from contraction and signaling a significant expansion in the Gulf country’s non-oil private sector. The increase was driven by faster increase in output and new orders.

  • Dubai to list utility Dewa under bourse expansion plan

    The Dubai government plans a stock market flotation of utility Dubai Electricity & Water Authority (Dewa), it said on Tuesday, among 10 state-backed companies to be listed as part of plans to boost activity on the local bourse. The listing plans are aimed at making Dubai a more competitive market against bigger bourses in the region, such those in as Saudi Arabia and neighbouring Abu Dhabi, that are seeing larger listings and strong liquidity.

  • Dubai to List 10 State Firms in Bid to Reverse Falling Trade

    Dubai plans to offer stakes in 10 state-owned companies in what may prove to be a test of confidence in a stock market dogged by falling volumes at a time when regional rivals are stepping up sales. The emirate will sell the shares as part of a move aimed at boosting trading volumes on the city’s financial markets to 3 trillion dirhams ($817 billion), the Dubai media office said in a tweet late Monday without elaborating. It didn’t name the companies or provide a timeline for the offerings.

  • The Ain Dubai, world’s tallest Ferris wheel, opens in Dubai

    The world's biggest and tallest Ferris wheel opened to the public on Thursday. Located on Bluewaters Island and offering views of the Dubai skyline, the Ain Dubai stands at around 820 feet tall and required around 11,200 tons of steel to build, according to their website.

  • Saudi Arabia Eyes 7,000 Global Firms as Dubai Rivalry Heats Up

    Officials are talking to major companies with annual revenues of a billion dollars or more, Al-Rasheed said, with the aim of getting 480 of them to set up in Saudi Arabia by 2030. Around half the companies that received their permits this week had already signed agreements in January to relocate regional headquarters to Riyadh. The rest were new.

  • Dubai: A Riveting Mystery – Jessica Alba and Zac Efron’s new tourist ad continues a Captivating Saga

    Quietly, without anyone quite noticing, Efron and Alba have made a series of miniature movies to promote Dubai. The fifth dropped yesterday, and is quite frankly a doozy.

  • Dubai expects to have more than 1,000 cryptocurrency businesses by 2022

    Interest in cryptocurrencies and blockchain is growing, especially in the UAE, as consumers and investors flock to digital assets with online payments gaining pace. A growing number of institutional investors and wealth managers in the UAE plan to increase their exposure to cryptocurrency assets between now and 2023, according to a survey by Nickel Digital Asset Management, based in London.

  • Saudi Arabia’s Pavilion at Expo 2020 Dubai Presents a Show to Guests

    The five-story suite boasts a number of record-breaking features, including a stunning 32-meter-high digital water feature and the world’s largest digital mirror screen. Designed by UK-based Boris Mika Associates, the pavilion spans a staggering 13,069 square meters, the second-largest by volume at the Expo 2020 Dubai site