Emirates
UAE poised to revive AED84bn F-35 deal with US if Trump clinches return
The UAE may look to revive a $23bn F-35 and drone deal with US if Donald Trump wins the 2024 U.S. Presidential race, as negotations with Biden continue to stall. Strategic Gulf relations are already beginning to shift amidst wider security ambitions.
Economy
Dubai telco du profits soar 49.7% to book $520mn in Q3 FY2024
For the nine months leading to this quarter, du achieved a 49.7 percent increase in net profit, reaching AED1.9 billion, driven by robust commercial momentum, a dedicated strategy, and cost-efficiency.
Dubai
Dubai roundabout overhaul cuts Trade Centre wait to 90 seconds
Dubai’s ambitious revamp of the Trade Centre Roundabout promises a smoother commute, cutting delays to 90 seconds while enhancing connectivity across its busiest intersections.
Abu Dhabi
UAE attracts mammoth US$16bn in greenfield foreign capital inflows in 2023
UAE attracts US$16 billion in FDI, transforming key sectors like real estate and finance to become a global investment leader with lasting international partnerships.
Abu Dhabi
UAE President launches Erth Zayed Philanthropies to celebrate Sheikh Zayed’s legacy
UAE President Sheikh Mohamed bin Zayed Al Nahyan launches Erth Zayed Philanthropies, unifying various humanitarian efforts to enhance global impact and honour UAE founder Sheikh Zayed's legacy.
Abu Dhabi
Lulu’s ADX IPO targets around $5bn bolstered by keystone GCC investors
Lulu Group’s ADX IPO promises to raise billions, anchored by cornerstone investor backing and an ambitious dividend plan to fuel its expansion across UAE markets.
Economy
UBS advises GCC investors secure wealth with bonds, gold to mitigate regional risks
GCC investors should consider high-grade bonds and global diversification of assets—with hedges in gold—to mitigate rising regional geopolitical risks posed in the Middle East, advises Swiss investment bank UBS.
Economy
UAE’s e& telecom giant expands into Eastern Europe in $2.3bn deal
e& Group cements its European presence with new acquisition across a majority of Eastern European markets — namely Bulgaria, Hungary, Serbia, and Slovakia.