Bassel El Koussa, Co-founder and CEO of Quiqup

Quiqup to focus exclusively on e-commerce last-mile operations

Quiqup will exit the food delivery business and focus its efforts solely on e-commerce last-mile operations.

Air Arabia annouces h1-2022-results.

UAE’s Air Arabia reports net profit of Dhs451m in H1 2022

More than 5.2 million passengers flew with Air Arabia between January and June 2022 across the carrier’s five hubs

M&A Mena region report- EY_getty

MENA region records 359 M&A deals signed worth $42.6bn in H1 2022: EY report

Domestic deals were the major contributor of merger and acquisition activity in the region, representing 48 per cent of the total deal volume in H1 2022

TAQA-Generation Abu Dhabi

Abu Dhabi National Energy Company reports net income of Dhs4.3bn in H1 2022

The group revenues were Dhs25.4bn, 15 per cent higher than the prior-year period, primarily due to higher commodity prices within the oil & gas segment

Apple’s Chart-Topping Run Gets a Boost From Retail Investors

Apple’s chart-topping run gets a boost from retail investors

Since bottoming in mid-June, the iPhone maker’s shares have surged 27 per cent, outpacing the S&P 500 Index and the Nasdaq 100 Index

UAE Ministry issues resolution on bank guarantees and employees’ protection insurance

UAE issues resolution on bank guarantee and employee protection insurance

Under the new resolution, establishments may provide a bank guarantee, valid for one year, of no less than Dhs3,000 for each worker, paid through a UAE-based bank

emirates launches third flight to Mauritius

Emirates announces third daily flight to Mauritius

Emirates started operations to Mauritius in September 2002 with three weekly flights and currently is in its 20th year of operations to the island nation

Ajman Chamber issues 19,008 certificates of origin worth over Dhs4.3bn

Ajman Chamber issues 19,008 certificates of origin worth over Dhs4.3bn

Libya topped the list of prominent export and re-export countries, followed by Saudi Arabia and Egypt

Dubai ranks 4th globally for prime residential capital value growth in H1 2022: Savills

Dubai ranks 4th globally for prime residential capital value growth in H1 2022: Savills

Rental growth exceeded 5 per cent in Dubai, versus an average of 3.1 per cent across other global cities

Wizz Air restarts fligths to Moscow

Wizz Air Abu Dhabi relaunches service to Moscow

Wizz Air Abu Dhabi currently operates flights to a network of 34 destinations within a five-hour flight time radius of Abu Dhabi

PwC launches UAE cryptocurrency report, identifies three-stage facilitative model for regulation

PwC launches UAE cryptocurrency report, identifies three-stage facilitative model for regulation

The UAE is one of the fastest growing cryptocurrency markets in the world generating transactions worth $25bn

NMDC and Oracle sign agreement

National Marine Dredging Group selects Oracle cloud applications for business efficiency

By utilising a wide range of applications for finance, supply chain, HR and customer service, NMDC will be able to simplify and integrate critical business processes

Merit Incentives launches Prerna Sonawane

Merit Incentives launches, a software as a service platform

The company has launched its latest gifting solution with talabat across the MENA region

Snap to open office in Qatar, signs MoU with Government Communications Office

This new move is part of Snap Inc’s efforts to support and create opportunities for its highly engaged creative community in Qatar

Yahsat-H1 2022 figures

Yahsat H1 2022 revenues rise by 8.1% YoY, with net income increasing by 50.7%

Yahsat reported that its revenue reached Dhs755m ($206m) and the net income reported was Dhs167m

Saudi Arabia launches program to develop cybersecurity sector

National Cybersecurity Authority launches ‘CyberIC’ in Saudi Arabia

The first phase of CyberIC aims to increase the number of cybersecurity startups in the sector by assisting more than 60 national companies

Air India announces special ‘Independence Day’ travel offer for Gulf and Middle East

The promotional tickets are on sale between August 8-21, with travel valid until October 15

UAE introduces new reporting rues for real estate for transparency

UAE introduces new reporting requirements for real estate transactions

The new requirements ensure the development of regulatory frameworks, leaving little or no room for manipulation or illegal practices

EHS presents three major projects in July 2022_image courtesy_WAM

Emirates Health Services presents three key projects worth Dhs53.7m

Emirates Health Services’projects will cover community mental health, virtual healthcare using the metaverse, and a revenue cycle management system

Syed Basar Shueb, IHC’CEO

International Holding Company’s H1 2022 net profit rises 137 per cent to Dhs10.35bn

The holding company’s revenue grew by 121 percent to Dhs21.93bn in the first six months of 2022

Global Gold ETF report July 2022

Global gold-backed ETFs record net outflow of $4.5bn in July: WGC

According to the World Gold Council, an analysis of gold futures positioning also suggests that gold could rebound in the near term

Mubadala to acquire Canada Cartage Image Courtesy: Mubadala Twitter

Mubadala Capital enters agreement to acquire Canada Cartage

Canada Cartage currently operates through a network of 33 facilities across Canada and has two business segments, dedicated transportation and logistics

Udrive launches in KSA

Car rental platform Udrive expands to Saudi Arabia

Licensed by the Transport General Authority, Udrive also plans to roll out fleets in Jeddah and other cities in 2023, boosting its fleet to 1,500 cars in a year

UAE’s public spending totalled AED87.4 billion in Q1 2022

UAE’s public spending in Q1 2022 amounts to Dhs87.4bn

Public spending included Dhs28.7bn spent on employee compensation payments compared to Dhs24.6bn in the same reporting period in 2021

Majid Al Futtaim report reveals spending increased by 22% in H1 2022

UAE consumer spending increased by 22% in H1 2022, reveals Majid Al Futtaim report

In the first half of 2022, the retail general category was up by 15 per cent from the same period in 2021

ADNOC Distribution reports net profit of Dhs1.56bn in H1 2022

ADNOC Distribution reports net profit of Dhs1.56bn in H1 2022

ADNOC Distribution accelerated its growth strategy throughout H1 2022, with the opening of 12 new stations in the UAE


Qatar Tourism launches ‘Specialist Programme’ to upskill global travel trade partners 

The Specialist Programme aims to enhance participants’ skills and knowledge of Qatar’s tourism offerings

SoftBank reports record $23.4bn loss as holdings tumble

SoftBank reports record $23.4bn loss as holdings tumble

The Vision Fund segment posted a loss of 2.33 trillion yen in the three months ending June 30, following a then-record 2.2 trillion yen loss in the previous quarter

DIFC Launches First Global Family Business and Private Wealth Centre

DIFC launches region’s first global Family Business and Private Wealth Centre

The new centre, which is scheduled to be launched on September 1, will provide a full range of services and accreditation to businesses and advisors who meet DIFC’s standards

Qatar Central Bank’s foreign currency reserves rise to QAR211.325bn in July

The official reserves stood at QAR153.890bn by the end of July, a considerable rise over last year’s reserves of QAR4.775bn