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Financial services giant Franklin Templeton announced the appointment of Hardeep Dogra to its Global Sukuk and MENA Fixed Income team, bolstering its expertise in Islamic finance. Dogra joins the team as a Portfolio Manager and Research Analyst, bringing his experience to a unit recognized as one of the largest globally focused on sukuk investments. Franklin Templeton has established a strong presence in the Middle East and North […]

DUBAI, June 21, 2024 – In a move signaling confidence in the company’s future, shareholders of Dubai conglomerate IHC overwhelmingly approved a Dh5 billion ($1. 36 billion) share buyback program on Wednesday. The program, first announced in May, is designed to return capital to investors and bolster IHC’s financial ratios. IHC intends to repurchase up to 3% of its outstanding shares at a price to be determined […]

The Al Habtoor Group, a Dubai-based conglomerate with a significant presence in Hungary’s hospitality sector, has initiated arbitration proceedings against Marriott International. The dispute centers on the management of the Ritz-Carlton Hotel in Budapest, with Al Habtoor seeking to terminate its agreement with the hotel giant and claiming substantial compensation. Details regarding the specific grievances behind the arbitration case remain confidential. However, the move signifies a serious […]

Dubai Future Foundation (DFF) and Meta have unveiled a collaborative effort to launch a novel business incubator program. This initiative aims to harness the potential of large language models (LLMs) to revolutionize product and service innovation across various industries. The program leverages Meta’s open-source AI model, LLAMA 3, to empower entrepreneurs to develop impactful AI use cases. These use cases will address real-world challenges, promote economic growth, […]

Nomura, a leading Japanese investment bank, has scored another win in its cryptocurrency ambitions after its digital asset unit, Laser Digital, secured a license from Abu Dhabi. This regulatory approval from the Financial Services Regulatory Authority (FSRA) permits Laser Digital to provide brokerage services for both traditional and digital assets, solidifying Abu Dhabi’s position as a burgeoning hub for crypto businesses. The license, officially a Financial Services […]

Arabian Post Staff -Dubai The Abu Dhabi government has announced the listing of $5 billion worth of bonds on the Abu Dhabi Securities Exchange (ADX), a move designed to strengthen the emirate’s financial market and attract new investment. The bond issuance will be divided into three tranches, with the listing process commencing on June 21st. This initiative aligns with Abu Dhabi’s broader economic goals of diversification and […]

Saudi Arabia’s capital, Riyadh, is surging as a breeding ground for innovative startups, according to a recent report by Startup Genome, an international research organization. The report ranks Riyadh as the fourth most promising startup ecosystem in the Middle East and North Africa (MENA) region. This impressive achievement is just one facet of a broader trend – three Saudi Arabian cities secured spots on the prestigious list. […]

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iSON Xperiences is steadfast in its confidence that under Vitul’s leadership, clients, business partners, and employees can expect the same level of passion, commitment, and support DUBAI, United Arab Emirates – EQS Newswire – 20 June 2024 – iSON Xperiences, a global leader in Customer Experience Management (CXM) and Business Process Outsourcing (BPO) announced the appointment of Vitul Kwatra as its incoming Global Chief Executive Officer, effective […]

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, solidified his commitment to the emirate’s economic growth by attending the 2024 edition of the Dubai Majlis. This annual forum, co-hosted by the Dubai Department of Economy and Tourism (DET) and Dubai Chambers, serves as a platform for business leaders and government officials to strategize and collaborate […]

Etihad Airways, the UAE’s national carrier, has inaugurated a new route connecting Abu Dhabi to Jaipur, a significant cultural and commercial center in northwest India. The service, marked by a celebratory event at Jaipur International Airport today, offers four non-stop flights per week. This expansion strengthens Etihad’s presence in the Indian market, a sector experiencing a surge in outbound travel. The airline has increased its India capacity […]

Arabian Post Staff -Dubai Brazilian aerospace giant Embraer is aiming its high-powered jets at new targets. The company’s defense division views India, Saudi Arabia, the European Union, and the United States as prime territories for expansion, specifically for their C-390 Millennium multi-mission aircraft. Embraer’s defense unit chief, Bosco da Costa Junior, revealed this strategic shift during a recent event. He highlighted India’s ongoing tender for military transport […]

Dubai’s GEMS Education, one of the world’s largest private K-12 education providers, is poised for a significant investment boost. A consortium led by Canadian investment giant Brookfield Asset Management has signed a binding agreement to acquire a stake in the company. The deal, expected to close in the third quarter of 2024, underscores the growing appeal of the education sector in the Middle East and GEMS’s strong […]

Dubai, the United Arab Emirates’ tourism hub, clarified on Tuesday that it would not be hosting the Islamic pilgrimages of Hajj and Umrah in 2005, or any other year. The clarification comes amidst rumors circulating online suggesting Dubai’s intention to hold these pilgrimages. Hajj, the annual pilgrimage to Mecca in Saudi Arabia, is one of the five pillars of Islam and a mandatory duty for all Muslims […]

Arabian Post Staff -Dubai A potential security deal between the United States and Saudi Arabia is raising eyebrows in the financial world, with some analysts suggesting it could significantly impact the future of the petrodollar. The dollar’s status as the world’s dominant reserve currency hinges in part on its continued use in oil transactions, and a shift by Saudi Arabia, the world’s top oil exporter, could trigger […]

Arabian Post Staff -Dubai Ukrainian President Volodymyr Zelensky returned to Kyiv this week after a summit in Switzerland yielded mixed results. While the embattled nation secured significant financial aid and renewed security assurances, progress on a broader strategy for achieving “just peace” fell short of expectations. The two-day summit, aimed at bolstering international backing for Ukraine in its ongoing conflict, brought together leaders from a range of […]

Dubai Economy, a government body dedicated to supporting the emirate’s economic growth, recently organized a workshop aimed at raising awareness about the crucial role of internal audits within businesses and organizations across Dubai. The workshop, which attracted a diverse range of participants from various sectors, served as a platform to educate attendees on the significance of robust internal audit practices and their impact on organizational success. The […]

Dubai-based Emirates Airlines addressed a recent $1. 5 million penalty imposed by the U. S. Department of Transportation (DOT) for operating flights in restricted Iraqi airspace. The airline confirmed the settlement but clarified the circumstances surrounding the incidents. According to the DOT, Emirates violated regulations by flying 122 passenger flights carrying JetBlue Airways’ code between December 2021 and August 2022 within the Baghdad Flight Information Region (FIR) […]

Arabian Post Staff -Dubai Dubai’s residential property market is experiencing a surge, driven by a significant increase in demand for off-plan properties. These are properties that are still under construction, and buyers are essentially purchasing based on plans and promises rather than a finished product. Data from the Dubai Land Department (DLD) reveals a substantial rise in off-plan transactions. In the first quarter of 2024, off-plan sales […]

The United Arab Emirates (UAE) is poised to become a major player in the global hydrogen industry with the announcement of a new $272 million hydrogen equipment manufacturing complex. The project, a collaboration between Abu Dhabi’s Department of Economic Development (ADDED) and Dubai-based Broaden Energy, signifies a significant step forward for the UAE’s National Hydrogen Strategy, which aims to position the country as a top 10 producer […]

Canadian asset manager Brookfield Asset Management is aiming to raise $5 billion for a climate-focused fund that will target emerging markets. The fund, called the Catalytic Transition Fund (CTF), was first announced in December 2023 at the COP28 climate conference in Dubai. The initiative is backed by the United Arab Emirates (UAE) through its $30 billion climate fund, Alterra. Alterra has committed $1 billion to the CTF, […]

One million people will be trained with AI within three years By 2031, 40% of GDP is to be generated with AI Global giants such as Microsoft, Google, and IBM are at the start DUBAI, UAE – Newsaktuell – 14 June 2024 – Dubai is increasingly becoming a global center for artificial intelligence. To this end, the metropolis of the day after tomorrow on the Gulf has […]

Arabian Post Staff Driven by a convergence of state and private IPO listings, a subsequent increase in financial services fees and a growing population of high-net-worth individuals, Dubai’s tax-efficient and demonstrably resilient economy has not only bolstered the emirate’s appeal for foreign direct investment, but provided a valuable incentive for banks, brokerages, and law firms to either shore up their presence, or establish one. This is the […]

The United Arab Emirates (UAE) has taken a significant step towards enhancing business efficiency and attracting foreign talent with the nationwide rollout of its “Work Bundle” initiative. Previously piloted in Dubai, the program streamlines work permit and residency visa procedures for private sector companies, investors, and individuals through a unified online platform – WorkInUAE. ae. Launched by the UAE government, the Work Bundle aims to transform the […]

Arabian Post Staff -Dubai Saudi Arabia’s stock market is experiencing a boom in initial public offerings (IPOs) in June, marking a significant shift for the kingdom’s traditionally oil-reliant economy. This surge in IPO activity is being driven by a confluence of factors, including the government’s ambitious Vision 2030 economic diversification plan, increased investor interest in the region, and a series of attractive offerings from local companies. Vision […]

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