Articles written by
arabian post staff

Featured

DP World completes Imperial Logistics deal

Arabian Post Staff DP World Logistics announced that all conditions precedent regarding DP World’s offer to acquire a 100% stake in Imperial Logistics Limited including regulatory approvals, have been fulfilled. The transaction is now unconditional and will be implemented on 14 March 2022. “We are excited about concluding this transaction, which will be value-enhancing for our people, clients and principals, for our service offering across the markets […]

February 25

Featured

Dubai retains title as busiest airport

Arabian Post Staff Dubai International (DXB) continues to be the world’s busiest airport by international passenger numbers for the eighth consecutive year after clocking 29.1 million in annual traffic in 2021. DXB’s annual traffic exceeded forecasts for the year by more than half a million passengers, on the back of a strong last quarter. Paul Griffiths, CEO of Dubai Airports, described an eventful year which, despite the […]

February 22

Featured

IMF commends UAE response to pandemic

Arabian Post Staff IMF has commended the UAE authorities on a successful vaccination program and prompt policy response to combat the effects of the pandemic and welcomed the economic recovery underway. This is mentioned in the IMF board’s 2021 Article IV consultations with the UAE authorities. Noting that significant downside risks remain, the Fund encouraged the authorities to pursue further efforts to maintain macro-financial stability, strengthen fiscal […]

February 18

Featured

Abu Dhabi real estate deals worth AED 71b in ’21

Arabian Post Staff The Department of Municipalities and Transport announced that the UAE capital registered outstanding real estate figures in 2021 with 14,958 transactions, tallying to a total value of 71.5 billion dirhams, reflecting the ongoing sustainable development and attractiveness of real estate investments in Abu Dhabi. As per the Department’s real estate trading indices, the emirate’s real estate sector recorded 7,262 sales transactions worth 18.2 billion […]

February 17

Featured

UAE banks stand to benefit from Fed move

By Arabian Post Staff Banks in the UAE will benefit from the planned increase in interest rates by the U.S. Federal Reserve, which the Central Bank of the UAE (CBUAE) will likely mirror because the UAE dirham is pegged to the U.S dollar, S&P said in a report. S&P Global economists expect the Fed to raise rates six times this year starting in March, and five more […]

February 15

Futureside

Gartner predicts $8b in claims related to biometrics

Arabian Post Staff By 2025, privacy lawsuits and claims related to biometric information processing and cyber-physical systems will have resulted in over $8 billion in fines and settlements, according to Gartner, Inc. “Autonomous vehicles, drones that capture video, smart buildings and smart cities are cyber-physical systems that capture biometrics of all kinds,” said Bart Willemsen, research vice president at Gartner. “The collection and storage of biometric information is gaining, whether […]

February 15

Featured

Air Arabia posts record results despite pandemic

Arabian Post Staff Air Arabia , the first and largest low-cost carrier (LCC) operator in the Middle East and North Africa, announced a record financial results for the fourth quarter and for full year ending 31 December 2021, despite the prevailing impact of COVID-19 pandemic that continued throughout the year. Air Arabia reported a net profit of AED 720 million for the full year ending December 31, 2021, an […]

February 14

Biz Tech

Cognetivity deal with EHS for AI-powered screening

Arabian Post Staff Cognetivity Neurosciences Ltd. announced that it has reached a commercial agreement with Emirates Health Services (EHS) for the company’s Integrated Cognitive Assessment (ICA) technology to be deployed as a screening tool for cognitive impairment throughout the United Arab Emirates.  Based in Dubai, EHS is the main federal provider of public healthcare services in the UAE. It functions as the operating arm of the country’s […]

February 14

Featured

Adnoc Dist posts AED 2.2b net profit

Arabian Post Staff ADX-listed ADNOC Distribution today reported that its EBITDA stood at AED 3.1 billion, with net profit of AED2.2 billion for 2021. For the fourth quarter of 2021, EBITDA was AED802 million, while net profit stood at AED571 million. The company delivered a resilient financial performance throughout 2021, despite volatility caused by the COVID-19 pandemic. ADNOC Distribution has maintained a strong balance sheet as of […]

February 14

Featured

Coral denies Syria fuel smuggling charges

CEO Oscar Yamin alleges orchestrated campaign to malign company By Arabian Post Staff Amidst the latest Lebanese crisis, alleged fuel smuggling to Syria has been a recurring theme in both traditional media as well as social media platforms. All Lebanese petroleum importing companies such as Total, Uniterminal, Hypco, Medco, IPT, Wardieh, Liquigas, and Coral have been accused of corruption and smuggling of fuel. In view of the […]

February 13

Business

What To Do If Your Business Performance Is Declining

Image Source – CC0 License What should you do if your business starts going downhill? Things started off so perfectly, but you’ve now reached a point where everything is going wrong. This happens all the time as running a business is a bit like scaling some mountains. There are long periods where you’re always on the up, but there are also times where you’re going down.  If […]

February 08

Featured

Accenture to help develop UAE payment system

Arabian Post Staff Accenture  has been selected by the Central Bank of the UAE (CBUAE) to lead a consortium of companies to help execute its National Payment Systems Strategy. In collaboration with SIA, now part of Nexi Group, and G42, Accenture will build and operate the National Instant Payment Platform (IPP) over the next five years. The new platform lays the groundwork for transforming the financial services […]

February 02

Featured

UAE to introduce corporate tax

Arabian Post Staff The United Arab Emirates will introduce a corporate tax from mid-2023, the finance ministry said Monday, in a major change of course as the country seeks to diversify its income. Long known as a tax haven and the regional headquarters for a swathe of multinationals, the UAE will tax business profits over 375,000 AED ($102,000) at 9.0 percent from June next year, a statement […]

January 31

Featured

Acquisition vehicle listing on ADX soon

Arabian Post Staff The Securities and Commodities Authority (SCA)’s approval of the region’s first Special Purpose Acquisition Company (SPAC) regulatory framework has paved the way for the listing of the first SPAC on the ADX this year. The first of its kind in the GCC, the SPAC regulatory framework was developed by ADX and Abu Dhabi’s Department of Economic Development (DED), in conjunction with the SCA and […]

January 24

Featured

Google forms blockchain group

Arabian Post Staff Google has formed a dedicated Blockchain Group focused on “blockchain and other next-gen distributed computing and data storage technologies”. Shivakumar Venkataraman, an engineering vice president for Alphabet Inc.’s Google shall be leading this new blockchain division. Venkataraman led Google’s search advertising team for almost 19 years turned VP/GM at Google Labs in Jan 2022. Although Google has been offering cloud services to blockchain projects, this […]

January 21

Featured

Oil prices remain bullish

Arabian Post Staff Oil prices continue to please the bulls, rising to multi-year highs as a result of tighter-than-expected supplies. The reason prices are reaching multi-year highs is the unexpected product gap the market is facing, as the theme so far for 2022 is that the oil market is short of the oil supply it anticipated for the beginning of 2021. According to Rystad Energy analysts, unplanned […]

January 19

Featured

High demand for shuttle tankers

Arabian Post Staff Demand for shuttle tankers in countries with robust offshore oil production and limited pipeline infrastructure is set to grow continuously in the coming years, as produced volumes in need of transport rise to 3.3 billion barrels per year before the end of the decade, jumping 35% from 2.5 billion in 2021, a Rystad Energy report shows. The analysis focuses on the five key shuttle […]

January 14

Featured

ADX to launch co-branded indexes

Arabian Post Staff The Abu Dhabi Securities Exchange (ADX) and FTSE Russell have partnered to develop co-branded indices, supporting the exchange’s recently launched derivatives market and bringing the exchange’s stock performance measures into line with global standards. As of 10th of January 2022, the FTSE ADX General Index is replacing the ADX General Index, and FTSE ADX sector indices will take the place of the existing sector indices, […]

January 10

Featured

DGCX records $149 billion trading value

Arabian Post Staff The Dubai Gold & Commodities Exchange (DGCX) recorded a total value of the contracts amounting to USD 149.676 billion. The best performing product in 2021 was its Indian Rupee Options (DINRO) Futures Contract, which traded up 1,233% year-on-year (Y-O-Y). As part of its broader cross-border collaboration efforts, the DGCX also signed landmark agreements with the S & Royal Group Mongolia to explore future business and trade opportunities, as well […]

January 07

Featured

Masdar partnership deal with Manchester City

Arabian Post Staff Premier League Champions Manchester City today announced a new global partnership with Masdar, which will see the renewable energy and sustainable development company become an Official Partner of the Club.   Masdar, a global leader in renewable energy, clean technologies and sustainable development, is focused on the development of renewable energy projects across the Middle East and North Africa, and wider international markets, with a presence […]

January 06

Featured

ADH acquires a quarter of Al Qudra Holdings

Arabian Post Staff Alpha Dhabi Holding (ADH) has announced the acquisition of 25.24% shareholding in Al Qudra Holding, as part of its AED8 billion strategic investment plan across various key-sectors in the UAE. Al Qudra Holding is an Abu Dhabi-based private joint stock company which has grown significantly by focusing on sustainable development in the region and creating value by investing in fundamental growth sectors. Alpha Dhabi […]

January 04

Companies

Indian pre-owned car platform closes $400m funding

Arabian Post Staff CARS24, India’s e-commerce platform for pre-owned vehicles, announced the closing of a $400 million round of funding, including a $300 million Series G equity round alongside $100 million debt from diversified financial institutions. This is CARS24’s third round of fund raising in over a year and values the used cars e-commerce player at $3.3 billion, about double the valuation from its previous round in […]

December 20

Featured

Dubai airport back to 100% functionality

Arabian Post Staff Following the opening of the final phase of Concourse A at Dubai International’s (DXB) Terminal 3, the world’s busiest international airport is 100% operational with all terminals, concourses, lounges, restaurants, and retail outlets now open. Terminal 3 is expected to serve more than 1.6 million passengers in the second half of December during the month’s peak seasonal travel period. Visitors to Dubai exceeded 1 […]

December 20

Featured

IMF sees challenging landscape for GCC

Arabian Post Staff GCC policymakers must navigate a challenging and uncertain landscape as the pandemic continues to cloud the global outlook and  countries are in different phases of recovery, with varied growth prospects and policy space, IMF said in an assessment of the GCC economies. The Fund noted that GCC policymakers moved quickly to mitigate the health and economic impacts of twin COVID-19 and oil price shocks. […]

December 16

Featured

Work week switch to intensify competition

Arabian Post Staff The four-and-a-half day working week is another twist in the UAE’s drive to attract business and investment in the Gulf Cooporation Council (GCC). according to a GlobalData analysis. It points out how the weekend switch is the latest in a string of measures that have enhanced the competitiveness of Abu Dhabi and Dubai as regional centers, as it puts them on the same working […]

December 15

Featured

Riyadh Declaration stresses GCC unity

Arabian Post Staff The GCC leaders affirmed today the importance of completing pillars of the GCC common economic, defence and security integration and unity and coordinating stances in order to enhance solidarity and stability among GCC member states, serve their interests, avert them regional and international conflicts, fulfill aspirations of their people and strengthen their regional and international role through unified political positions and new partnerships regionally […]

December 15

Featured

Digital economy court for DIFC announced

Arabian Post Staff The Dubai International Financial Centre Courts announced the launch of a ‘Specialised Court for the Digital Economy’ aimed at simplifying the settlement process of complex civil and commercial disputes related to the digital economy. The new specialised court will deal with national and international disputes related to current and emerging technologies. It will cover a wide variety of fields including big data, blockchain technologies, […]

December 15

Featured

Gulf Capital reports record results

Arabian Post Staff Gulf Capital announced record profitability results for its private equity portfolio over the last twelve months (LTM) ending in Q3 2021. The fair value of Gulf Capital’s $750 Million GC Equity Partners III (Fund III) soared by 67% in the Last Twelve Months, fuelled by the record profitability of its underlying portfolio companies. This strong performance is a direct result of Gulf Capital adopting […]

December 14

Featured

AD to set up global pharma corridor

Arabian Post Staff Abu Dhabi has set its sights on Belgium, as a leading global pharmaceutical hub, to establish a global distribution corridor to serve the world in vaccine delivery and future life science needs. The collaboration builds on the capabilities of Abu Dhabi’s healthcare sector as a leading life sciences hub and the efforts of the HOPE Consortium in providing vaccine solutions for the world. This […]

December 09

Biz Tech

Amazon launches Alexa in Khaleeji Arabic

Arabian Post Staff Amazon today announced that Alexa, the brain that powers the Echo device family, is coming to the United Arab Emirates, offering customers an all-new, localized language experience in Khaleeji Arabic as well as in English, new features built with Gulf customers in mind, new smart home integrations with many compatible devices, and nearly 200 Alexa skills. Echo devices are voice-controlled speakers designed entirely around […]

December 07