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By Saifur Rahman Zimbabwe President Emmerson Mnangagwa on Wednesday broke ground to launch the US$500 million (Dh1.83 billion) Zim Cyber City – a state-of-the-art mixed-use hi-tech park at the outskirts of Zimbabwe’s capital city Harare – that is being developed by UAE-based diversified industrial conglomerate Mulk International. Sprawled across 2.5 million square feet, Zim Cyber City is currently under construction in Mount Hampden, New Harare. Mount Hampden’s master plan includes […]

Arabian Post Staff Expo 2020 has had a positive impact on all markets in the UAE, while the FIFA World Cup Qatar 2022 is expected to result in overspill demand to the key transit hubs in Dubai and Abu Dhabi, Colliers said in its monthly hotel report for MENA. However, rising instability in key CIS source markets is expected to suppress demand, with the largest impacts expected […]

Arabian Post Staff Abu Dhabi-based Alpha Dhabi Holding has increased its stake in Aldar Properties, reaffirming its position as the single largest shareholder and consequently becoming Aldar’s parent company. Through this latest additional stake, Alpha Dhabi has raised its shareholding of Aldar, to complement its existing majority representation on Aldar’s Board of Directors. Accordingly, Aldar will be treated as a subsidiary in Alpha Dhabi’s consolidated financial statements, the impact […]

Arabian Post Staff Oman Insurance Company announced it has completed the sale of its insurance operations in Turkey to VHV Reasürans, Istanbul/Turkey, a company of VHV Group, Hannover/Germany. The size of the financial transaction was not disclosed. This transaction represents a continuation of Oman Insurance’s transformation and simplification strategy with the objective to focus company’s resources on specific markets and segments. Jean-Louis Laurent Josi, CEO of Oman […]

Arabian Post Staff Etihad Credit Insurance (ECI), the UAE Federal export credit company, has entered into a historic collaboration with Israel Export Insurance Corp. Ltd. (ASHRA) to form the first Public-Private Partnership project between the UAE and Israel after the signing of the historic Abraham Accords in September 2020. The deal will provide buyer’s credit guarantees to the funding bank for Ghana’s AED 540 million (EUR 140 […]

Arabian Post Staff Nissan has won the case in which its erstwhile distributor Al Dahana FZCO brought various claims against it in the wake of their joint venture business in the Middle East, named Nissan Gulf FZCO was called off in 2019. In 2008 Nissan entered into an agreement with Al Dahana to form a joint-venture called NGF to manage the distribution of vehicles in part of […]

Arabian Post Staff Abu Dhabi Securities Exchange (ADX) has successfully completed a London investor roadshow which saw ADX host a delegation of over 25 senior executives from 9 listed companies and the exchange. The sizeable Abu Dhabi capital market representation reinforces the strong focus on investor relations and continuous dialogue that ADX and its listed companies continue to foster with international and institutional investors. Over the course […]

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Arabian Post Staff’ DP World and CDPQ, a global investment group, announced an investment of US$5 billion (CA$6.3 billion) in three of DP World’s flagship UAE assets. CDPQ will invest US$2.5 billion in the Jebel Ali Port, the Jebel Ali Free Zone and the National Industries Park through a new joint venture in which it will hold a stake of approximately 22%, with the remainder of the […]

Arabian Post Staff Al Jalila Foundation, a member of the Mohammed bin Rashid Al Maktoum Global Initiatives, has partnered with a leading cryptocurrency platform to expand the foundation’s donation channels. The foundation has thus become the first healthcare charity in the UAE to accept digital money donations. The foundation simultaneously announced that it has been granted approval to receive charitable donations in cryptocurrencies. The unprecedented move in […]

Free training to help young leaders to be truly future-ready by getting climate-ready HONG KONG SAR – Media OutReach – 2 June 2022 – AXA Hong Kong and Macau (AXA) launches “AXA Climate School for university students in Hong Kong”, a free online course for all full-time university undergraduates in Hong Kong. Climate change is the biggest health risk facing humanity in the 21st century. Knowledge about […]

Arabian Post Staff Air and travel services provider dnata announced it would invest US$ 100 million in green operations in the next two years to further enhance environmental efficiency across its global network. The company’s ongoing investment in infrastructure, equipment and process improvement will support it to achieve its strategic objectives and reduce its carbon footprint by 20% by 2024, and by 50% by 2030. In recent […]

Arabian Post Staff Abu Dhabi Securities Exchange (ADX) announced the secondary listing of GFH Financial Group B.S.C.   The listing is set to further expand GFH’s investor base and enhance liquidity in its shares amid increased regional and international participation on the exchange. To mark the occasion, ADX Managing Director and CEO, Saeed Hamad Al Dhaheri, and GFH’s Group Chief Executive Officer, Hisham Alrayes, rang the market-opening bell […]

Humans are sociable beings by nature. And, given that we spend one-third of our lives at work, it’s obvious that having strong connections with our coworkers will make our employees more pleasurable. Coworkers will be more confident in brainstorming, sharing their perspectives, and embracing new ideas if they feel comfortable with one another. This level of teamwork is necessary to embrace change, progress, and innovation. Productivity and […]

Arabian Post Staff Abu Dhabi has taken a significant step forward in creating the framework to meet the country’s Net Zero by 2050 strategic initiative with the release of the regulatory policy for electric vehicle charging infrastructure in the emirate. Announced today by the Abu Dhabi Department of Energy (DoE), the policy sets out the stipulations and criteria for establishing a network of electric vehicle charging stations […]

Arabian Post Staff dnata has set up e-Apron, a sustainability zone, at the 21st edition of Airport Show at the Dubai World Trade Centre (DWTC), providing opportunity for electric/hybrid Ground Support Equipment (GSE) and Ground Handling Equipment (GHE) manufacturers to showcase their latest innovations. “Reducing the carbon footprint is a key target for dnata as a world-leading air and travel services provider at 129 airports. We expect […]

Arabian Post Staff S&P Global Ratings believes GCC banks’ exposure to cyber risk is manageable, assuming they continue to invest in cyber security and proactively manage risk, taking into consideration the evolving nature of threats. It notes that GCC banks have reported only a handful of digital breaches and cyberattacks over the past decade. While some might have gone unreported, it is likely these were minor incidents […]

Arabian Post Staff Under President Sheikh Zayed bin Sultan Al Nahyan, the UAE  saw its position and proactive role on the regional and international scene boosted, forging robust relations with the outer world on the basis of mutual respect and unwavering commitment to resolving global disputes through diplomacy. The prudent leadership of the late Sheikh Khalifa contributed to advancing the stature of the UAE as a regional […]

Arabian Post Staff Dubai International (DXB) has recorded the busiest quarter since 2020 with 13.6m passengers in Q1 2022, indicating that traffic recovery is gaining momentum at the world’s busiest international hub. This is the second consecutive quarter when passenger traffic at DXB has surpassed the 10-million mark. Bolstered by 5.5m in passenger traffic in March, DXB’s passenger volumes rose to 13.6m in the first quarter of […]

Arabian Post Staff A record price of AED 12,624 per square foot was achieved for a 3- bedroom unit in Bulgari Resort and Residences, making this transaction the highest recorded price per square foot in the history of Dubai. According to Kianoush D. and Lina A., Associate Partners at Driven Properties,  the brokers behind the deal, the Bulgari Resort and Residences continues to be the most coveted […]

Arabian Post Staff Crypto firms will flock to Dubai as UAE crypto regulation guides crypto sector rather than curbs it, according to data analyst firm GlobalData. The UAE’s regulation is more about overseeing the development of the crypto sector than curbing it. By accepting the inevitability of mainstream crypto assets and helping the domestic crypto sector grow, the UAE will continue to attract a flock of crypto […]

Arabian Post Staff Office rents in the UAE’s two largest business hubs have begun to recover to pre-COVID levels as demand for prime space intensifies, according to global real estate consultancy, Knight Frank. According to Knight Frank’s analysis, five out of 27 locations in Dubai have seen office rents return to pre-pandemic rates, while in Abu Dhabi, the city’s best buildings continue to demonstrate rental resilience. Still, […]

Arabian Post Staff The Dubai Financial Services Authority (DFSA) has today launched its regulatory regime for Whistleblowing. The regime is the first of its kind to be introduced by a financial service regulator in the UAE and applies to all DFSA Regulated Entities operating in or from the Dubai International Financial Centre (DIFC). The regime provides enhanced legal protection for persons who report misconduct internally within DFSA […]

Arabian Post Staff GMG, a global well-being company retailing, distributing and manufacturing a portfolio of leading international and home-grown brands across sport, food and health sectors, has acquired Géant operations in the UAE and rights to expand Géant operations in the Middle East. Géant is a part of Groupe Casino, a French retailing giant with a turnover in excess of EUR35 billion. GMG is acquiring Géant’s current […]

Arabian Post Staff Goldman Sachs indicated it will be offering investment vehicles  for Bitcoin and other crypto assets to clients of its private wealth management group. The bank aims to start offering investments in the emerging asset class in the second quarter of the year according to its recently named global head of digital assets for the private wealth management division, Mary Rich. The move would see […]

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