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#SaudiArabia to auction mining licenses in 2022 | ZAWYA MENA Edition

Saudi Arabia to auction mining licenses in 2022 | ZAWYA MENA Edition Saudi Arabia plans to auction two major mining licenses in 2022 for commodities including gold, copper and zinc, as the Kingdom aims to triple the mining sector’s contribution to the national gross domestic product (GDP) to SR240 billion ($64 billion) and double the number of jobs to 470,000 by 2030.The auction was announced by Vice Minister for Saudi Mining Affairs Khalid Al-Mudaifer during an interview with S&P Global ...
Tags: Travel, Saudi Arabia, Kingdom, Dubai, Barrick Gold, Alcoa, Eastern Province, Rupert Neil Bumfrey, Saudi Arabian Mining Company Ma'aden, ZAWYA MENA Edition Saudi Arabia, Khalid Al Mudaifer, Al Mudaifer, Ma'aden Bauxite, Alumina, Ras al Khair Industrial City, Al Shamal Fertilizer Production Complex


Top Dubai Municipality Apps

Dubai Municipality has launched a number of mobile apps for easier integration with municipal services. Whether you want to access the geographical system and land maps, order animal slaughter and delivery, identify fake consumer products, find or adopt a pet, visit the parks and beaches, check out the weather, or simply contact the 24/7 contact […] The post Top Dubai Municipality Apps appeared first on Dubai Expat Blog.
Tags: Travel, Dubai, Living in Dubai, Dubai Technology, Dubai Municipality, Makani, Daily Dubai, Al Mawashi, Aleef, DM 24/7, Green Ticket, Montaji, Najm Suhail, Top Dubai Municipality Apps


Bahrain's Batelco Telecom Considers #Saudi Dual Listing - Bloomberg

Bahrain's Batelco Telecom Considers Saudi Dual Listing - Bloomberg Bahrain’s biggest telecommunications firm is planning to become the first company to have a dual listing of shares on Saudi Arabia’s stock exchange, according to people familiar with the matter.Bahrain Telecommunications Co., also known as Batelco, has hired the investment arm of Samba Financial Group as an adviser on the deal, the people said, asking not to be identified as the information is private. No decision has been made...
Tags: Travel, Saudi Arabia, Bloomberg, Dubai, Abu Dhabi, Bahrain, Gulf, Abu Dhabi Securities Exchange, Rupert Neil Bumfrey, Samba Financial Group, Khalid Al Hussan, Samba Capital, Batelco, Batelco Telecom, Bloomberg Bahrain, Bahrain Telecommunications Co


MIDEAST STOCKS #Dubai bourse gains, major Gulf markets fall | Reuters

MIDEAST STOCKS Dubai bourse gains, major Gulf markets fall | Reuters Most major stock markets in the Gulf ended lower on Thursday, although the Dubai index was boosted by gains in financial shares.Dubai's main share index (.DMFGI) finished 0.8% higher, buoyed by a 1.8% rise in Emirates NBD Bank (ENBD.DU) and a 0.8% increase in sharia-compliant lender Dubai Islamic Bank (DISB.DU).The United Arab Emirates (UAE) central bank raised its key overnight interest rate by 5 basis points on Thursday...
Tags: Travel, Saudi Arabia, Dubai, Abu Dhabi, Uae, Gulf, Reuters, U S Federal Reserve, United Arab Emirates UAE, Qatar National Bank, Tasi, Rupert Neil Bumfrey, ADCB, Gulf Egypt, First Abu Dhabi Bank, Bank of America Securities


MIDEAST STOCKS Major Gulf indexes mixed, #Saudi market gains | Reuters

MIDEAST STOCKS Major Gulf indexes mixed, Saudi market gains | Reuters Major Gulf stock markets were mixed in early trade on Thursday with the Saudi index supported by gains in financial shares.Saudi Arabia's benchmark index (.TASI) edged up 0.1%, helped by a 0.2% gain in Al Rajhi Bank (1120.SE) and 0.8% rise in Riyad Bank (1010.SE).Goldman Sachs raised its expectations for Saudi Arabian growth this year and in 2022 amid rising oil prices and an increase in oil output by the kingdom.Dubai's mai...
Tags: Travel, Saudi Arabia, Dubai, Abu Dhabi, Gulf, Reuters, Adi, Commercial Bank, Tasi, Rupert Neil Bumfrey, ADCB, QSI, Al Rajhi Bank, Qatar National Bank QNBK, Abu Dhabi Commercial Bank ADCB ADCB, Dubai Investments DINV


MIDEAST STOCKS Most major Gulf bourses in red; financials aid #Saudi | Reuters

MIDEAST STOCKS Most major Gulf bourses in red; financials aid Saudi | Reuters Most major stock markets in the Gulf ended lower on Wednesday, with the Dubai index leading the losses, while financial shares bolstered the Saudi bourse.Dubai's main share index (.DFMGI) declined 1%, with sharia-compliant lender Dubai Islamic Bank (DISB.DU) and blue-chip developer Emaar Properties (EMAR.DU) both losing 1.4%.Elsewhere, DAMAC Properties (DAMAC.DU) retreated 1.5%.Last week, United Arab Emirates prop...
Tags: Travel, Qatar, United Arab Emirates, Dubai, Abu Dhabi, Uae, Gulf, Reuters, Riyad Bank, Tasi, Rupert Neil Bumfrey, ADCB, QSI, Hussain Sajwani, Gulf Egypt, DFMGI


Luxury Meets Thrift for #Dubai Startup Raising Funds to Go Abroad - Bloomberg

Luxury Meets Thrift for Dubai Startup Raising Funds to Go Abroad - Bloomberg Dubai may be better known as the Middle East’s capital of excess but a startup based in the city is raising funds for international expansion by marrying luxury with thrift.The Luxury Closet, an online platform for buying and selling used high-end goods, secured fresh financing led by regional investment firm GMP Capital, alongside international and local investors including Huda Beauty Investment, the private office ...
Tags: Travel, New York, Bloomberg, Middle East, United Arab Emirates, Dubai, Gucci, Gulf, Kunal Kapoor, Arab Gulf, Etsy Inc, Kering SA, Rupert Neil Bumfrey, Bain Co, Poshmark Inc, Bloomberg Dubai


Mideast Stocks: Major Gulf bourses subdued in early trade | ZAWYA MENA Edition

Mideast Stocks: Major Gulf bourses subdued in early trade | ZAWYA MENA Edition Major stock markets in the Gulf were in negative territory early on Wednesday, with property shares weighing on the Dubai index.Dubai's main share index lost 0.5%, with blue-chip developer Emaar Properties dropping 1% and DAMAC Properties falling 0.8%.Last week, United Arab Emirates property tycoon Hussain Sajwani made an offer to buy out minority shareholders in DAMAC, which he has run for nearly two decades. The a...
Tags: Travel, Saudi Arabia, United Arab Emirates, Dubai, Abu Dhabi, Uae, Gulf, Emaar Properties, Qatar National Bank, Rupert Neil Bumfrey, Hussain Sajwani, Masraf Al Rayan, Major Gulf, Qatar Financial Markets Authority, Sulaiman Al Habib Medical Services, First Abu Dhabi Bank Abu Dhabi


Dubai Job Market and Working in Dubai

Dubai is one of the best international tourism destination and people from all parts of the world come here on vacations. It is a place with a lot of expatriates who have settled here and working in various jobs. Foreigners often find Dubai as the most exotic place to live and work. One of the […] The post Dubai Job Market and Working in Dubai appeared first on Dubai Expat Blog.
Tags: Travel, Employment, Dubai, Living in Dubai, Daily Dubai, Dubai Jobs, Dubai Job Market, Working in Dubai


#Dubai's Damac appoints top-level committee to assess $599m shares offer - Arabianbusiness

Dubai-based developer Damac has appointed an independent committee of board directors to assess the offer from former chairman Hussain Sajwani to take the company private by buying out the minority shares.In a filing to Dubai Financial Market, Damac said it has also appointed KPMG Lower Gulf Limited as valuer and Arqaam Capital Limited as financial advisor to evaluate the offer to acquire 100 percent of its issued and paid up ordinary share capital.Maple Invest Co Limited, an investment vehicle ...
Tags: Travel, Dubai, DAMAC Properties, Rupert Neil Bumfrey, Damac, Hussain Sajwani, Sajwani, Maple Invest Co Limited, Dubai Financial Market Damac, KPMG Lower Gulf Limited, Arqaam Capital Limited, Farooq Arjomand, Ali Malallah Binjab


DP World Said to Weigh Sale of Stake in Jebel Ali Free Zone - Bloomberg

DP World Said to Weigh Sale of Stake in Jebel Ali Free Zone - Bloomberg DP World is considering offering international investors a chance to buy into the Jebel Ali Free Zone, a prized asset that helped transform Dubai into a hub of global trade, as it looks for ways to cut its debt pile.The Dubai-based port operator is working with advisers to gauge interest in the sprawling industrial park, according to people familiar with the matter. DP World is considering options including selling a stake...
Tags: Travel, Europe, London, Saudi Arabia, Chile, Dubai, Abu Dhabi, State, Antwerp, DP World, Chen, Bloomberg Intelligence, Rupert Neil Bumfrey, Jebel Ali Free Zone, Sharon Chen, Puertos y Logistica


MIDEAST STOCKS Major stock markets in the Gulf end mixed | Reuters

MIDEAST STOCKS Major stock markets in the Gulf end mixed | Reuters Major stock markets in the Gulf ended mixed on Tuesday, with financial shares weighing on the Saudi index and property stocks bolstering Dubai.Saudi Arabia's benchmark index (.TASI) dropped 0.8%, weighed down by a 2.1% decline in Al Rajhi Bank (1120.SE) and a 2.3% slide in Saudi Telecom Company (7010.SE).The kingdom's inflation rate rose for the second consecutive month in May, climbing to 5.7% from 5.3% in April, again refl...
Tags: Travel, Qatar, Middle East, United Arab Emirates, Dubai, Abu Dhabi, Gulf, Reuters, Reuters Major, Dubai Saudi Arabia, Tasi, Saudi Telecom Company, Rupert Neil Bumfrey, QSI, Hussain Sajwani, Al Rajhi Bank


Analysis: DAMAC delisting plan piles pressure on shrinking Dubai market | Reuters

Analysis: DAMAC delisting plan piles pressure on shrinking Dubai market | Reuters Dubai’s stock market is set for another delisting, raising a question mark over the future of one of the Gulf’s major exchanges, which was launched two decades ago.A $595 million bid to take DAMAC Properties (DAMAC.DU) private by the firm’s founder Hussain Sajwani is the latest blow to the exchange, even as the Gulf city state’s property market showed signs of life in the first quarter."It is not that Dubai is b...
Tags: Travel, London, Saudi Arabia, Dubai, Abu Dhabi, Gulf, Reuters, Emaar Properties, Dubai Financial Market DFM, Arabtec, Rupert Neil Bumfrey, Hussain Sajwani, Reuters Dubai, DFM, Nasdaq Dubai, Reuters Analysts


MIDEAST STOCKS Major Gulf bourses ease in early trade as financial shares drag | Reuters

Major stock markets in the Gulf were subdued in early trade on Tuesday, mostly hurt by losses in financial shares in the absence of fresh factors to trade on.Saudi Arabia's benchmark index (.TASI) fell 0.4%, with Al Rajhi Bank (1120.SE) losing 0.9%, while Saudi Arabian Mining Company (1211.SE) retreated 1.2%.The kingdom's inflation rate rose for the second consecutive month, climbing to 5.7% in May from 5.3% in April, again reflecting a tripling of value-added tax to 15% last year, official data...
Tags: Travel, Saudi Arabia, Qatar, Dubai, Abu Dhabi, Gulf, Reuters, Adi, Tasi, Rupert Neil Bumfrey, Hussain Sajwani, Al Rajhi Bank, First Abu Dhabi Bank, DFMGI, Qatar National Bank QNBK, Emirates NBD Bank ENBD


HSBC Joins Morgan Stanley With Bullish Call on #Dubai Real Estate - Bloomberg

HSBC Joins Morgan Stanley With Bullish Call on Dubai Real Estate - Bloomberg HSBC Holdings Plc said a growing demand for larger homes during the pandemic would further boost Dubai’s property market, echoing analysts at Morgan Stanley who expect the rally to last for “several years.”“The reported sales rebound in Dubai year-to-date has been remarkable,” HSBC’s Stephen Bramley-Jackson and Alok Baid wrote. Despite supply concerns and negative population growth, “the globally synched post-pandemic...
Tags: Travel, Hsbc, Dubai, Morgan Stanley, Emaar, Rupert Neil Bumfrey, Emaar Properties PJSC, HSBC Joins Morgan Stanley, Dubai Real Estate Bloomberg, Dubai Real Estate Bloomberg HSBC Holdings Plc, Stephen Bramley Jackson, Alok Baid


MIDEAST STOCKS Rising oil prices, economic recovery lift Gulf stocks | Reuters

MIDEAST STOCKS Rising oil prices, economic recovery lift Gulf stocks | Reuters Major stock markets in the Gulf ended higher on Monday, as investors eye economic recovery and rising oil prices which gained on an improved outlook for worldwide fuel demand. Brent was up 64 cents, or 0.9%, at $73.34 a barrel by 1246 GMT, its highest since May 2019. "GCC economies tend to heavily depend on oil price movements and should see solid support thanks to rising crude prices. This effect will be ob...
Tags: Travel, France, Saudi Arabia, Qatar, Egypt, GCC, Dubai, Abu Dhabi, Cairo, Gulf, Reuters, Reuters Major, United Arab Emirates UAE, Tasi, Rupert Neil Bumfrey, QSI


#Dubai Conglomerate’s Venture Said to Buy Palm’s Cooling Provider - Bloomberg

Dubai Conglomerate’s Venture Said to Buy Palm’s Cooling Provider - Bloomberg Dubai state developer Nakheel sold its business that supplies chilled air to such local landmarks as artificial palm-shaped islands, according to people familiar with the matter.Emirates Central Cooling Systems Corp, a joint venture between a unit of Dubai Holding and a state-owned utility, has acquired Nakheel’s cooling operations, the people said. The assets are worth around 1 billion dirhams ($272 million), they sa...
Tags: Travel, Bloomberg, United Arab Emirates, Dubai, Abu Dhabi, Gulf, Dubai Electricity and Water Authority, Nakheel, Dubai Holding, TECOM GROUP, Rupert Neil Bumfrey, Aldar Properties PJSC, Tabreed, Emaar Properties PJSC Dubai, Bloomberg Dubai, Dubai Conglomerate


#Dubai plane leasing firm DAE adds more banks to bond deal | Reuters

Dubai plane leasing firm DAE adds more banks to bond deal | Reuters Dubai Aerospace Enterprise (DAE), one of the world's biggest aircraft leasing companies, has added more banks to its planned sale of U.S. dollar-denominated bonds that would be its second this year, an investor presentation seen by Reuters showed.DAE, owned by the Dubai government's main investment arm the Investment Corporation of Dubai, will issue bonds in tranches of three- and/or seven years to exercise a call option on bo...
Tags: Travel, Dubai, Reuters, Dae, Rupert Neil Bumfrey, Investment Corporation of Dubai, Reuters Dubai Aerospace Enterprise DAE


MIDEAST STOCKS Gulf markets make gains on oil, economic recovery | Reuters

MIDEAST STOCKS Gulf markets make gains on oil, economic recovery | Reuters Major Gulf stock markets rose on Monday, lifted by optimism about economic recovery and oil prices which gained on an improved outlook for worldwide fuel demand.Oil prices are a key catalyst for the Gulf region's financial markets and Brent crude was up 76 cents, or 1.1%, at $73.43 a barrel at 0734 GMT, its highest level since May 2019. .Saudi Arabia's benchmark index (.TASI) gained 0.6%, with Al Rajhi Bank (1120.SE) ri...
Tags: Travel, Saudi Arabia, Qatar, GCC, Dubai, Abu Dhabi, Gulf, Reuters, United Arab Emirates UAE, Tasi, Rupert Neil Bumfrey, Saudi Basic Industries, Al Rajhi Bank, Emaar Properties EMAR DU, COVID, Emirates NBD Bank ENBD


How to get a freelance work visa in Dubai?

Dubai is rapidly catching up on the trends of the “gig economy”. So if you are a freelancer willing to work in media, education, and technology in Dubai, you can apply for a freelance permit or visa. This article will let you know how to easily get your freelance visa in Dubai. HOW DOES A […] The post How to get a freelance work visa in Dubai? appeared first on Dubai Expat Blog.
Tags: Travel, Dubai, Gig Economy, Living in Dubai, Dubai Internet City, Dubai Media City, Business in Dubai, Freelance Work in Dubai, Tecom, Freelance Visa


MIDEAST STOCKS #Saudi index outperforms as financials boost; Egypt falls | Reuters

MIDEAST STOCKS Saudi index outperforms as financials boost; Egypt falls | Reuters Saudi Arabian shares ended higher on Sunday, outperforming other Gulf peers, buoyed by gains in banking stocks, while Egypt's blue-chip index extended losses.Saudi Arabia's benchmark index (.TASI) advanced 0.9%, lifted by a 3.8% rise in Al Rajhi Bank (1120.SE) and a 3.6% increase in Saudi Telecom Company (7010.SE).Elsewhere, Dur Hospitality Co (4090.SE) finished 0.6% higher after the firm said it is in merger ...
Tags: Travel, Saudi Arabia, Qatar, Egypt, Dubai, Abu Dhabi, Uae, Gulf, Reuters, United Arab Emirates UAE, Tasi, Rupert Neil Bumfrey, QSI, Al Rajhi Bank, Gulf Egypt, Reuters Saudi Arabian


Drake & Scull swings to net profit, says debt restructuring on track | ZAWYA MENA Edition

Drake & Scull swings to net profit, says debt restructuring on track | ZAWYA MENA Edition Dubai-based contractor Drake & Scull International (DSI) said Sunday that it is moving forward with the debt restructuring plans. The company swung to a Q1 net profit of 115 million dirhams ($31.3 million) after posting a net loss of 30 million dirhams a year earlier. In a disclosure to the Dubai Financial Market, where its shares trade, the mechanical, electrical and plumbing (MEP) contractor said it was...
Tags: Travel, Dubai, Drake, DSI, Dubai Financial Market, Rupert Neil Bumfrey, Drake Scull, Scull, Abdelhamid, Drake Scull International DSI, Shafiq Abdelhamid, FRC DSI


Most Middle Eastern Stocks Climb as Oil Extends Gains: Inside EM - Bloomberg

Most Middle Eastern Stocks Climb as Oil Extends Gains: Inside EM - Bloomberg Most equities markets in the Middle East extended gains on Sunday, following another positive week for crude prices.Equities gauges in Saudi Arabia, Bahrain, Oman, Kuwait, Qatar and Israel advanced as much as 0.8%, while those in Dubai and Abu Dhabi slipped less than 0.1%.Oil, the main export for Gulf countries, posted its third straight weekly rise on improving demand, with the International Energy Agency warning the...
Tags: Travel, Saudi Arabia, Israel, Bloomberg, Middle East, Dubai, Mecca, Abu Dhabi, Uae, Gulf, Riyadh, International Energy Agency, Bloomberg Intelligence, Jabal Omar, Rupert Neil Bumfrey, Edmond Christou


Singapore's VMC plans Mena expansion with $150m ADGM media investment fund | The National

Singapore's VMC plans Mena expansion with $150m ADGM media investment fund | The National Singapore-based Vistas Media Capital, the parent of the special purpose acquisition company that is taking music streaming platform Anghami public, is expanding its footprint in the Middle East and North Africa with an investment fund and an events and content production company in Abu Dhabi.The planned $150 million multi-strategy investment fund will be based in the emirate’s financial hub, Abu Dhabi Glo...
Tags: Travel, Spotify, New York, Singapore, Middle East, Dubai, Abu Dhabi, Mena, North Africa, VMC, Rupert Neil Bumfrey, Anghami, Sandeep Mishra, Vistas Media Capital, National Singapore, Abu Dhabi Global Market VMC


#Dubai's Meraas now holds all shares of DXB Entertainments | ZAWYA MENA Edition

State-backed Meraas Leisure and Entertainment now holds all the shares of Dubai theme parks operator DXB Entertainments (DXBE), according to a bourse filing. The minority shareholders of the company, which operates Dubai Parks and Resorts, had accepted in March the offer to take over the company, whose losses were reported to be at 6.2 billion UAE dirhams ($1.7 billion), or 78 percent of its capital, as of the end of September 2020. “Following completion of the mandatory acquisition, all of the...
Tags: Travel, Dubai, Uae, Mohammed bin Rashid Al Maktoum, Dubai Financial Market DFM, Rupert Neil Bumfrey, Dubai Parks and Resorts, DXBE, Meraas


MIDEAST STOCKS #Saudi index firms as other Gulf markets remain subdued | Reuters

MIDEAST STOCKS Saudi index firms as other Gulf markets remain subdued | Reuters Major Gulf stock markets were little changed in early trade on Sunday, though the Saudi index was up 0.4% to extend gains from the previous four sessions.Saudi Arabia's benchmark index (.TASI) was buoyed by Al Rajhi Bank (1120.SE) advancing by 0.8% while Saudi Telecom Company (7010.SE) was up 0.6%.In a blow for the Saudi economy the kingdom has restricted the annual haj pilgrimage to its own citizens and residents ...
Tags: Travel, Saudi Arabia, Qatar, Dubai, Mecca, Abu Dhabi, Uae, Medina, Gulf, Reuters, United Arab Emirates UAE, Saudi Press Agency, Tasi, Saudi Telecom Company, Rupert Neil Bumfrey, Industries Qatar


How to find a job in Dubai

The job market in Dubai is competitive due to the number of foreigners attracted to living and working there. Dubai is expecting an economic growth of at least 5% this year. The economy is booming comparatively to recession infested economies of UK, Europe and America. If you are eager to find a job in Dubai, […] The post How to find a job in Dubai appeared first on Dubai Expat Blog.
Tags: Travel, Facebook, Twitter, Jobs, Media, Employment, Sales, America, Linkedin, Banking, Dubai, Retail, Recruitment, UK Europe, Food Industry, Living in Dubai


#Dubai Aerospace Enterprise hires banks for second dollar bond sale of 2021 | ZAWYA MENA Edition

Dubai Aerospace Enterprise hires banks for second dollar bond sale of 2021 | ZAWYA MENA Edition Dubai Aerospace Enterprise (DAE), one of the world's biggest aircraft leasing companies, has hired a group of banks to arrange fixed income investor calls before a planned issuance of U.S. dollar-denominated bonds, a document showed on Friday.DAE, owned by the Dubai government's main investment arm the Investment Corporation of Dubai, hired BNP Paribas, Credit Agricole, Emirates NBD Capital, JPMorga...
Tags: Travel, Dubai, Dae, Rupert Neil Bumfrey, Investment Corporation, Dubai Aerospace Enterprise, MENA Edition Dubai Aerospace Enterprise DAE, Trust Securities


Germany Gets Tax Documents From #Dubai in Anti-Evasion Campaign - Bloomberg

Germany Gets Tax Documents From Dubai in Anti-Evasion Campaign - Bloomberg German authorities secured a trove of tax data from Dubai, Finance Minister Olaf Scholz said, marking the first time the federal government has used the technique in efforts to stem tax crimes.The Central Federal Tax Office paid about 2 million euros ($2.4 million) to purchase the data from an anonymous source, Der Spiegel reported. German state governments have previously made such purchases to combat tax fraud.“Tax ev...
Tags: Travel, Germany, Berlin, Bloomberg, Dubai, Switzerland, Social Democratic Party, North Rhine Westphalia, Der Spiegel, Scholz, Olaf Scholz, Rupert Neil Bumfrey, Norbert Walter Borjans, Central Federal Tax Office


Expat Guide to Moving to Dubai from UK

Dubai is an attractive relocation spot for British citizens. Every year, hundreds of British expats move to Dubai from UK for better prospects and financial gains. With over 200,000 new resident arrivals each year, Dubai continues to attract more expatriates. Affordable accommodations, high salaries, employee-friendly taxes are only some of the reasons why more people […] The post Expat Guide to Moving to Dubai from UK appeared first on Dubai Expat Blog.
Tags: Travel, UK, Insurance, Healthcare, Dubai, Work Permit, British Expats, Relocation, Living in Dubai, Residency Visa, Daily Dubai



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