New vertical farm in Dubai Industrial City by mid-2020

Dubai: Badia Farms, the Middle East’s first commercial vertical farm in Dubai, will set up a new large-scale farm in Dubai Industrial City, with operations to start in the second quarter of 2020. Spanning an area of 50,000 square feet, the facility will have the capacity to produce 3,500kg of fruits and vegetables on a […]

UK business faces end of honeymoon as Johnson boycotts Davos

A month ago, Boris Johnson stood in front of the UK’s business leaders, asking them for their support, and talking about how much he valued wealth creation. But a month is a very long time in politics. On Tuesday, the pound wiped out all the gains it made in the days following his election victory, […]

Aramco snaps up $1.2b stake in South Korea’s Hyundai Oilbank

Dubai: Saudi Aramco completed a deal on Tuesday to buy 17 per cent of South Korean oil refiner Hyundai Oilbank from Hyundai Heavy Industries Holdings for about $1.2 billion (Dh4.4 billion). The completion of the deal, reached through its subsidiary Aramco Overseas Company, came after it received all the required regulatory consents and approvals, the […]

Expo 2020 Dubai to give a big boost to UAE economy

Dubai: Expo 2020 will give a one-time shot in the arm for the UAE economy, according to economists from Standard Chartered. “We expect a one-off boost to growth from Dubai’s hosting Expo 2020. This should boost UAE GDP growth to 2.1 per cent from 1.7 per cent in 2019. We expect the hosting of Expo […]