Tuesday, May 28

Tag: Dubai

Exploring the Reasons Behind Dubai’s Heavy Rainfall
News

Exploring the Reasons Behind Dubai’s Heavy Rainfall

The United Arab Emirates (UAE) recently experienced its heaviest rainfall ever due to a severe thunderstorm that struck the country late on Monday night, resulting in one fatality, property damage, and disruptions to air travel in Dubai. Dubai, a typically arid region, received an unprecedented amount of rain, with more than 142 millimetres falling in just one day – a stark contrast to the average annual rainfall of 94.7 millimetres at Dubai International Airport. The heavy downpour led to widespread flooding, causing chaos at the airport and throughout the city. The impact of the heavy rains was felt across Dubai, with homes flooded, vehicles abandoned on roads, and popular shopping centers like Dubai Mall and Mall of the Emirates overcome with water. School closures and work-from-...
Dubai based Indian Businessman donates Property to Quarantine Coronavirus affected Patients
MIDDLE EAST, News

Dubai based Indian Businessman donates Property to Quarantine Coronavirus affected Patients

A Dubai-based Indian businessman has donated a fully-equipped building owned by him to the country's health authorities for the purpose of quarantining coronavirus affected patients, according to media reports. Ajay Sobhraj, Founder and Chairman of Dubai-based Finja Jewellery, has donated the building in Jumeirah Lake Towers in Dubai, that can accommodate up to 400 people, to be used as a quarantine centre, the Gulf News reported on Sunday. In a letter addressed to the Dubai Health Authority titled 'To Support and Give Back to the City That Cares', the Indian businessman who has called Dubai his home for 25 years, has donated a fully-equipped building in Jumeirah Lake Towers to be used in the country's fully integrated strategy against the COVID-19 crisis, the report said. "I bel...
Dubai Suspending All Economic Lifeline Amid Coronavirus Threat
MIDDLE EAST

Dubai Suspending All Economic Lifeline Amid Coronavirus Threat

Dubai is closing its famous malls and halting all passenger flights, capping a series of shutdowns on once-thriving sectors that serve as its economic lifeline but which have been sacrificed to curb coronavirus. A few days after barring foreigners, including those with residency permits, from entering the country, the emirate said it would close its airports to commercial flights, shut shopping centres and restrict restaurants to home deliveries. Within hours of the announcement, which will be enforced by Wednesday, the city's vast malls were already largely deserted, with corridors and concourses empty and shops devoid of customers. Boasting the most diversified economy in the Gulf, Dubai derives 94 percent of its public revenues from non-oil sources which also make up the major...
Dubai launches World Logistics Passport
MIDDLE EAST

Dubai launches World Logistics Passport

Dubai launched the World Logistics Passport as part of the implementation of the first phase of the Dubai Silk Road strategy. The World Logistics Passport offers a set of unique operational and financial advantages for businesses and shipping companies by connecting government entities, including Dubai Customs and Dubai Trade, with logistics service providers like DP World and Dnata, and facilitating commercial transactions among concerned bodies in Dubai. The passport will help boost the role of the Dubai Silk Road and enhance demand for Dubai's products, services, and integrated transportation systems. The initiative also further raises the growing role played by Dubai Customs in regional and international trade. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince...
LuLu Group strikes Switzerland hotel deal
MIDDLE EAST

LuLu Group strikes Switzerland hotel deal

Dubai-based Lulu Group which is owned by an Indian business tycoon has announced its entry into mainland Europe after a new agreement with a Switzerland-based real estate company to develop a new four-star hotel in the Swiss city of Zurich. Twenty14 Holdings (T14H), the hospitality investment arm of Abu Dhabi based LuLu Group International, said on Friday that it has entered into a forward purchase contract with Necron AG for the upcoming IntercityHotel Zurich Airport in Rmlang municipality of Zurich. The company said its new purpose-built, 260-room hotel, set to open in 2020 and will be located close to Rmlang station and offer good transport links, including access to Zurich International Airport in 10 minutes and the city centre in 15 minutes. "We are excited to mark our entry...
Dubai-based VC firm BECO Capital Raises $10 Million from IFC
FUNDING

Dubai-based VC firm BECO Capital Raises $10 Million from IFC

Dubai based venture capital firm BECO Capital has reportedly raised an amount of $10 million for its second fund from the popular International Finance Corporation (IFC) which is a member of World Bank Group. This investment is basically a part of an effort to support technology start-ups and drive innovation across the Middle East and North Africa. According to the reports, this particular fund is being anticipated to reach up to $100 million. If BECO does close the fund with $100, it would be one of the largest in the region. “Our vision at BECO is to improve the region through technology entrepreneurship and innovation,” said Dany Farha, the Managing Partner of BECO Capital. “With IFC as a partner, we will have the firepower to continue fueling and igniting liftoff for MENA’s disrup...
Dubai’s Largest Payment Processing Firm to Launch IPO
Market

Dubai’s Largest Payment Processing Firm to Launch IPO

Dubai-based payment processing firm called Network International which is the largest of its kind in the Middle East and Africa, is currently evaluating the possibilities and expecting to launch its initial public offering. The company is jointly owned by Emirates NBD and private equity firms Warburg Pincus and General Atlantic. The company stated that its shareholders "are evaluating various strategic options with respect to NI, which may include a potential initial public offering.  At this point in time, no decisions have been taken as to whether NI or its shareholders will proceed with any such transactions.” However, if NI and its shareholders decide to move forward with any such transaction, further announcements will be made in due course. Earlier in September, the company’s ow...
Dubai’s Flydubai Cargo to Start Live Animal Transportation
MIDDLE EAST, News

Dubai’s Flydubai Cargo to Start Live Animal Transportation

Dubai’s Flydubai Cargo has announced that they will now begin with offering live animal transportation across its network. Along with providing return flights for pet and other live animals, the airlines would also be able to offer additional features for customers such as door to door, or airport to airport transportation. Flydubai Cargo is a low-cost carrier which is taking a great step towards economic growth. These transportation services can be utilized for agricultural and zoological purposes. All these transportations will follow the IATA Live Animals Regulations. “Since we began our operations in 2012, we have been focused on offering customers consistent and efficient cargo solutions and we are delighted that we will now be able to offer live animal transportation,” said Moham...
Dubai-based Workz Launches e-SIM for new iPhone Users in the UAE
MIDDLE EAST

Dubai-based Workz Launches e-SIM for new iPhone Users in the UAE

Dubai-based Workz Group has announced the launch of a new remote SIM which would provide a solution for mobile network operators. This move is being taken by the company in partnership with Truphone. The solution offers operators in the UAE with the immediate capability to enable the owners of eSIM-enabled devices such as the new iPhone and Apple Watch to connect to their network without the need for a physical SIM card. eSIMs or embedded SIMs are a vital component of the cellular-powered Internet of Things (IoT) networks. These enable the devices to have extraordinary network connectivity without having to purchase a separate SIM card.   Move to the future today with MFF2 eSIMs cloud solutions #OTA #SIM https://t.co/9mMnjy5G9x pic.twitter.com/jAJcvDxvY3 — Workz Group (@Work...
Dubai-based Careem Buys Tech & Talent of Indian Bus-shuttle Platform
ACQUISITION, MIDDLE EAST

Dubai-based Careem Buys Tech & Talent of Indian Bus-shuttle Platform

Dubai-based ride-hailing company Careem has acquired a part of Indian bus-shuttle service platform called Commut. The amount of the deal is yet not disclosed and with this, the company is looking to expand to mass transport across 100 cities. Following the acquisition, Careem will take over Commut's talent and technology. Founded in 2015 by six IIIT-Hyderabad graduates, Commut claims to have served over 70,000 customers and onboarded 400 driver-partners. "We are always looking to invest in new technologies and high-calibre people to help solve complex local problems. And mass transportation is one of the biggest issues facing cities in the Greater Middle East," Careem stated. "Improving the quality and availability of mass transportation will help to create affordable transport option...
FoodTech Firm Faasos to Foray into the Middle East Market
MIDDLE EAST

FoodTech Firm Faasos to Foray into the Middle East Market

The food on demand platform Faasos is reportedly foraying into the international market starting from Dubai. The company has plans of seeking to capture the next leg of growth. Faasos Food Services, which operates the brand Faasos, is gearing up to establish its first batch of multi-brand cloud kitchens in Dubai. By the first quarter of 2019, the company is expecting to have three kitchens operational in the city. These will witness the venture launch its brands Faasos, Behrouz Biryani, Oven Story and Firangi Bake in the Middle East. “We test new brands with limited locations within our existing kitchens. We only scale those brands that we know are being liked by users and where economics are working. The good thing is that our kitchens become profitable in the second month itself and ...
Tata Communications Rolls Out Cybersecurity Response Centre in Dubai
News

Tata Communications Rolls Out Cybersecurity Response Centre in Dubai

Tata Communications has launched an advanced cyber security response centre in Dubai. The centre will offer 24/7 cyber security services to help customers stay one step ahead of evolving cyber threats in the Middle East region. This move marks Tata Communications' fourth dedicated security centre, after Chennai, Pune and Singapore by debuting in Dubai. "Through the new cyber security response centre in Dubai, Tata Communications aims to offer enterprises and government bodies in the UAE and other GCC countries across the region with cyber-attack protection that helps them meet in country regulation requirements...," the company said.  Launching the facility, UAE Minister of State for Artificial Intelligence Omar Sultan Al Olama stated that cybersecurity has become even more paramount ...