Saudi Crown Prince Mohammed bin Salman announced plans to build a new city on the Red Sea coast, promising a lifestyle not available in today’s Saudi Arabia as he seeks to remake the kingdom, reports Bloomberg.
It’s not that hard to see why the flying car never became the standard mode of transportation, writes Bloomberg. For one thing, the basic technology of vertical take-off and landing — which is required in order to avoid long runways — is fairly hard
The company that helped build entire neighborhoods in Dubai plans to sell part of its business in the United Arab Emirates in an initial public offering, according to Bloomberg.
Hussain Sajwani wants the world to know he’s Donald Trump’s man in the Middle East. From his perch in Dubai, the billionaire real-estate mogul is busy working to strengthen — and promote — his relationship with the Trump Organization. And he’s making no apologies, whatever critics might say about potential conflicts for America’s first family, reports Bloomberg.
Online food delivery and restaurant search service Zomato disclosed that information of close to 17 million user accounts has been stolen in a security breach, according to Bloomberg.
The global oil market glut is helping India’s biggest crude processor become nimble, reports Bloomberg.
Aster DM Healthcare is planning an initial public offering next year as the Dubai-based medical provider seeks to take advantage of improved market sentiment for the Persian Gulf, reports Bloomberg.
Noon, the e-commerce venture of Dubai businessman Mohamed Alabbar partly funded by Saudi Arabia’s Public Investment Fund, let go of dozens of staffers in Dubai amid delays to rolling out the app, according to four people familiar with the matter, says Bloomberg.
Saudi Aramco is seeking to boost its fuel-trading volume by more than a third as the world’s biggest crude exporter expands its capacity to refine oil to grab a bigger share of growing markets in Asia and Africa, reports Bloomberg.
Aircraft-leasing company Dubai Aerospace Enterprise Ltd. said it sees scope for the purchase of its first new-generation Airbus SE A320 and Boeing Co. 737 short-haul jets as the takeover of AWAS Aviation Capital Ltd. propels it into the top ranks of global players, according to Bloomberg