Articles written by
arabian post staff

Centre’s Raids On Newsclick Is A Part Of Policy Of Intimidation Of Independent Media

By K Raveendran The use of terrorist laws against journalists in the NewsClick makes the Narendra Modi government’s intentions very clear: terrorise independent media outfits which dare not to follow their ‘gaudi’ counterparts that dominate the country’s media scene. The government apparently feels that even the few that remain outside its orbit cannot be allowed […]

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Dubai start-up launches dirham-based stablecoin DRAM

Arabian Post Staff Dubai based DeFi startup DTR has launched UAE dirham-backed stablecoin, DRAM. Stablecoins have been one of the most pivotal use cases for digital assets. Traditionally, the stablecoin landscape has been dominated by US dollar-backed stablecoins such as USDT, USDC, and the recently introduced PYUSD. To gauge their popularity, one only needs to look at the numbers i.e., the total market cap of stablecoins hovers […]

Emirates, Shell Aviation sign fuel deal

Arabian Post Staff Emirates announced an agreement with Shell Aviation for the supply of over 300,000 gallons of blended SAF for use at the airline’s international hub in Dubai (DXB). The first SAF delivery under the agreement is expected to commence before the end of the year, making it the first time that SAF is supplied through the DXB airport fuelling system. The agreement is the latest […]

Aramco to enter global LNG business

Arabian Post Staff Aramco, one of the world’s leading integrated energy and chemicals companies, has signed definitive agreements to acquire a strategic minority stake in MidOcean Energy for $500 million. MidOcean Energy is a liquefied natural gas (LNG) company formed and managed by EIG, a leading institutional investor in the global energy and infrastructure sectors. MidOcean Energy is currently in the process of acquiring interests in four […]

Dubai off-plan sales hit 12-year high

Arabian Post Staff Sales transactions in Dubai’s off-plan and secondary segments in Q3 2022 were the highest in 12 years, both in volume and value with 25,456 sales transactions worth AED 69.7 billion, according to Swiss luxury developer DHG Properties, which is set to launch a flagship project in Dubai A slowdown in real estate transactions has typically been synonymous with UAE summers. Subsequently, lower costs of […]

Retailers consider UAE as great for doing business

Arabian Post Staff As much as 88 percent of retailers think the UAE is a great place to operate a retail business, online retail management company Uplo says in a report. The report is based on an in-depth survey of more than 100 retail leader, commissioned through YouGov, and is part of Uplo’s MENA Online Retail Report 2023. The paper also includes leading insight from experts at […]

Ukraine war adds severity of denial of service attacks

Arabian Post Staff The Russia-Ukraine war and NATO bids have driven recent Distributed Denial of Service (DDoS) attacks growth, according to the findings of 1H2023 DDoS Threat Intelligence Report by Netscout Systems. Cybercriminals launched approximately 7.9 million DDoS attacks in the first half of 2023, representing a 31% year-over-year increase. Finland was targeted by pro-Russian hacktivists in 2022 during its bid to join NATO. Turkey and Hungary […]

$1b India, UAE, Poland fund launched

Arabian Post Staff A fund with an initial corpus of $1 billion, named ASI BNP QLV Fund, has been launched aiming to serve as a bridge connecting India, the UAE, and Poland. Those associated with the fund are Sheikh Ahmed Al Qassimi, a UK-India businessman Biswananth Patnaik and former Prime Minister of Poland Kazimierz Marcinkiewicz. The fund seeks to facilitate investments in strategic sectors such as energy, […]

UNDP, MBRF launch pan-Arab re-skilling initiative

Arabian Post Staff The United Nations Development Programme (UNDP) and the Mohammed bin Rashid Al Maktoum Knowledge Foundation (MBRF) teamed up with the online learning platform, Coursera, to launch the FutureSkills4All initiative — a transformative programme aimed to provide scholarships for upskilling and reskilling citizens across the Arab States region to enhance their employability in jobs of the future that will drive economic growth in the region. […]

Dnata wins Hainan Airlines job at Milan airport

Arabian Post Staff Airport Handling, a joint venture of leading global air and travel services provider dnata, has been awarded a multi-year contract by Hainan Airlines to manage its ground handling operations at Milan Malpensa Airport (MXP). The agreement will see Airport Handling provide a range of passenger, ramp and baggage services to the airline which will operate three weekly flights between Milan and Shenzhen Bao’an International […]

Gulf Capital exits Metito investment

Arabian Post Staff Gulf Capital announced it has exited from its investment in Metito Holdings Ltd. after a  17-year partnership by leading the consortium that sold a majority stake in Metito to Alpha Dhabi Holding , one of the United Arab Emirates’ (UAE) fastest-growing investment holding companies. Gulf Capital said it has been instrumental in Metito’s substantial growth, enabling and financing the company’s expansion into over 50 […]

Yahsat wins $5 billion mandate from UAE govt

Arabian Post Staff Al Yah Satellite Communications Company announced  that its government services arm, Yahsat Government Solutions has received from the UAE Government an Authorization to Proceed to provide satellite capacity and managed services for 17 years. The mandate, valued at AED 18.7 billion (USD 5.1 billion), combines related operations, maintenance and technology management services of ground segment satellite systems and terminals currently provided under a separate […]

Masdar decision on UK battery investments soon: CFO

Arabian Post Staff UAE’s state-owned renewable energy company Masdar will take final investment decisions later this year on the company’s first UK battery projects, CFO Niall Hannigan recently told S&P Global Commodity Insights in an interview. The UK is a strategic market for Masdar, with the company involved in fixed and floating offshore wind projects and targeting 1 GW plus of battery storage via Masdar Arlington. “In acquiring […]

IMF commends Bahrain’s progress on digital money

Arabian Post Staff Bahrain has taken significant regulatory steps to create a favorable environment for fintech, including the introduction of a fintech unit at the Central Bank of Bahrain (CBB), a regulatory sandbox, and new regulations for the digitalization of banking and payment services, IMF noted in a report. It said quoting the World Bank Global Fintech Database that Bahrain was already a leader compared to the […]

Dubai Vertical farming show has successful run

Arabian Post Staff Attendees of the 4th Global Vertical Farming Show in Dubai had the opportunity to explore cutting-edge technologies, innovative farming methodologies, and the latest advancements in vertical farming solutions. The two-day event, which had participation from stakeholders in more than 30+ countries, hosted the top players from the entire vertical farming value chain, with key government officials, and industry experts turning it into a platform […]

Dubai leads in airport connectivity rankings

Arabian Post Staff Dubai Airport leads the preliminary direct connectivity ranking for 2023 in Middle East and Asia-Pacific, according to the Airport Connectivity Report, launched by the Airports Council International (ACI) Asia-Pacific and Middle East (ACI APAC & MID) at the launch of its Middle East office in Riyadh. The report reveals that air connectivity in the Middle East stands out with +26% growth in total connectivity […]

DIFC insurance sector set for 20% growth

Arabian Post Staff Dubai International Financial Centre (DIFC) added a number of new insurance players in recent times, thereby strengthening Dubai’s position as a global hub for the insurance and reinsurance industry. The  sector is on track for 20 per cent annual growth, DIFC said. Over the past five years, DIFC has seen an influx of insurance and reinsurance players with a 43 per cent representation of […]

Nakheel launches Palm Jebel Ali villas

Arabian Post Staff Nakheel announced the  launch  of Palm Jebel Ali to the market, announcing the release of the first villas available to purchase on the island. This follows the recent unveiling of the new futuristic masterplan  earlier this year. The highly anticipated release centres around four fronds which feature Coral villas and Beach villas, each of which are available in eight unique styles. Both types of villas […]

Aramco buys Latin American retailer

Arabian Post Staff Energy giant Aramco has agreed to purchase a 100% equity stake in Esmax Distribusción SpA from Southern Cross Group, a Latin America-focused private equity company. The transaction is subject to certain customary conditions, including regulatory approvals. Esmax is a leading diversified downstream fuels and lubricants retailer in Chile. Its national presence includes retail fuel stations, airport operations, fuel distribution terminals and a lubricant blending […]

AD alternative investment firm plans $50b assets

Arabian Post Staff Lunate, a new partner-led and independent global alternative investment manager, announced plans to launch more than $50 billion of Assets under Management (AuM), making it one of the largest in the MENA region. The creation of Lunate follows a multi-party effort to establish an independent investment manager of scale and breadth, headquartered in Abu Dhabi and serving global markets. With a focus on private […]

Two top Russian energy firms to cooperate on Northern Sea route

Arabian Post Staff ROSATOM, Gazprom Neft Marine Bunker and Gazprom Neft Shipping signed a memorandum of cooperation in the implementation of the Eurasian Container Transit Project (EACT) during the Eastern Economic Forum 2023. The document sets out the parties’ intentions to create the first regular container line to carry out transit cargo transportation via the Northern Sea Route (NSR) between the eastern and western parts of Eurasia. […]

UAE banks better placed to handle credit growth decline

Arabian Post Staff Higher interest rates and OPEC oil production cuts will constrain near-term growth prospects for the major Gulf Cooperation Council (GCC) economies, but non-oil growth and, consequently, credit growth in the UAE and Saudi Arabia remain robust, S&P said in the latest report on the GCC banks. Despite a slight deterioration in asset quality indicators and an increase in the cost of risk, it expects […]

Sukoon acquires Chubb’s UAE life business

Arabian Post Staff Sukoon, formerly Oman Insurance, has acquired the UAE Life insurance portfolio of Chubb Tempest Life Reinsurance Ltd. An agreement to this effect was signed on August 24th, but the financial terms of the transaction were not disclosed. Chubb Tempest Life Reinsurance Ltd, is a private company incorporated in Bermuda, with UAE branch offices in Dubai and Sharjah. The transfer which covers unit-linked life insurance […]

Fintech helps upgrade GCC payment systems

Arabian Post Staff AFAQ and BUNA systems have helped improve payments in the GCC region, Khaled Al Basias, Director Financial Sector Development, Saudi Central Bank, stressed while speaking at the Global Fintech Fest 2023. AFAQ system was created in 2020 to link all the GCC countries’ RTGS payments and central banks for foreign exchange transactions. Over 50 financial institutions are now part of it. The BUNA system […]