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United Arab Emirates
Energy
ADNOC aims production growth with $1.17 bn contract
Contract awarded by ADNOC Offshore to ADNOC Logistics & Services
Banking & Finance
Bayzat receives funding from MBRIF to fuel expansion plans
Fund to be used to strengthen Bayzat's technical development team
Energy
IHC acquires 50% of Turkish ‘Kalyon Enerji’ in $490 mn transaction
Deal in line with IHC’s long-term investment strategy in the clean energy sector
Hospitality & Tourism
New UAE visas to come into force from next month
Reforms include 5-year Green residency, permits for job hunters and tourists
Energy
DEWA’s second-quarter net profit rises 40%
UAE’s growing energy demand boosted DEWA profits
Energy
UAE’s TAQA generates $7 bn in profits thanks to oil, gas revenues
Earnings before interest, tax depreciation amounted to $3.1 bn
Energy
ADNOC Drilling reports AED1.39 bn in net H1 revenues
A 34% increase compared to 2021
Technology
UAE’s Everdome secures $10 mn metaverse funding
Commitment to be used to strengthen Everdome’s offering, sustainability
Technology
UAE to crack down on crypto, real estate exploitation
"New regulations will leave little or non room for manipulation"
Technology
Three-stage facilitative model for crypto regulation in UAE
UAE's crypto market generates transactions worth $25 bn
Markets
Dubai’s Salik to seek $1 bn in IPO
Salik is still planning to list its shares on Dubai Stock Exchange in September
Banking & Finance
IHC achieves net profits of $2.82 bn for H1
H1 total revenue increased 121% to AED 21.93 bn
Economy
UAE government’s operating surplus doubles amid oil price surge
Surplus amounted to AED 36.4 bn in Q1
Hospitality & Tourism
Dubai brings in 7.12 mn international visitors in 6 months
Despite “macroeconomic factors” affecting the global economy
Energy
ADNOC Distribution reports net profits of AED 1.56 bn in H1
Company reported EBITDA of AED 1.99 bn
Technology
Hackers leak Spinneys’ customer data in UAE
Retailer assures no personal banking information was compromised
Banking & Finance
UAE’s BNPL Tabby secures $150 mn financing
The firm's total capital raised to date amounts to $275 mn
Banking & Finance
TECOM Group net profits soar to AED 427 mn
An increase of 43.4 percent
Hospitality & Tourism
This is the number of Golden Visas issued by UAE thus far
Global Citizenship-by-Investment market will reach $100 bn by 2025
Banking & Finance
CBUAE issues guidelines on dealing with politically exposed persons
Regulations to manage risks related to money laundering
Hospitality & Tourism
UAE’s tourism industry witnessing quantum leap
Findings bolster the country’s position as a global tourist destination
Industry
Al-Futtaim Automotive reveals strong H1 results
Results reflect continuing rebound for automotive industry
Banking & Finance
UAE’s Ghitha’s net profits soar amid disrupted supply chains
Revenue for Q2 at a record peak of AED 576 mn
Telecom
e& reports net profit of AED 4.9 bn for H1
Profits rose by 2,5%
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