Business

Heineken to launch first large-scale brewery in Dubai

Published

2 years ago

November 28, 2024

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Dubai is set to host the Gulf’s first large-scale brewery as a joint venture involving Heineken NV prepares to produce popular beer brands in the emirate.

Bloomberg reports that this marks a significant shift in a region traditionally known for its strict regulations on alcohol sales and consumption.

Sirocco, a partnership between Heineken NV and Dubai-based Maritime and Mercantile International, announced plans to begin construction of the brewery late next year, having already secured the required permits.

The project is expected to be completed by 2027. Dubai, the Middle East’s business and tourism hub, is among the region’s most cosmopolitan cities.

Officials permitted alcohol consumption and sales over two decades ago, with regulations gradually easing to accommodate a surge in tourism.

Recently, the city eliminated a 30% sales tax on alcohol and liquor license fees, though sales to Muslims remain restricted. Dubai, part of the United Arab Emirates, is one of seven sheikhdoms in the federation.

The UAE has been gradually loosening restrictions on alcohol, with notable developments such as Las Vegas-based Wynn Ltd. building the region’s first casino in Ras Al Khaimah and Abu Dhabi granting a license for on-site beer brewing at a restaurant last year.

The planned brewery in Dubai will produce popular brands like Heineken, Kingfisher, Amstel, and Birra Moretti.

The company also aims to expand its workforce from 60 to 190 full-time employees.

Sirocco, which has been supplying alcohol in the UAE for nearly 20 years, states that local production will help increase output to meet rising demand in a market that attracts over 17 million tourists annually.

The establishment of the new brewery highlights the Gulf’s efforts to liberalize their economies while navigating conservative social norms.

With Middle Eastern governments aiming to reduce their dependence on oil, Dubai continues its push to attract tourists and expatriates as part of its economic diversification strategy.

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Business

Enugu Air Begins London Gatwick flights From December 10, 2026

The Enugu State-owned airline will use an Airbus A330-200 leased from Portugal-based EuroAtlantic under an Aircraft, Crew, Maintenance and Insurance (ACMI) arrangement.

Published

60 minutes ago

November 8, 2026

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Enugu Air will begin direct flights to London Gatwick on December 10, 2026, with four services weekly.

Tickets are already available for booking.

The Enugu State-owned airline will use an Airbus A330-200 leased from Portugal-based EuroAtlantic under an Aircraft, Crew, Maintenance and Insurance (ACMI) arrangement.

The service is being delivered through a strategic partnership with Omni-Blu Aviation (OBA).

The airline said the service will improve international travel connectivity for passengers departing from Lagos, Enugu and other parts of Nigeria.

Passengers from Enugu will be able to begin their international journey to London from their home airport, Akanu Ibiam International Airport.

The four weekly flights are expected to give travellers greater flexibility between Nigeria and the United Kingdom.

Enugu Air Chief Executive Officer Captain Tolu Ita said: “The commencement of our London Gatwick service reflects our commitment to expanding international connectivity and the vision of His Excellency, Governor Peter Mbah, to connect Enugu to more opportunities across the world.”

He added: “Of particular importance is ensuring that passengers from Enugu can begin their international journey to London from their home airport, Akanu Ibiam International Airport. We are proud to make the journey from Enugu to London Gatwick a reality for our passengers.”

Business

Naira Exchange Rates Thursday, 5 Nov 2026

Published

3 days ago

November 5, 2026

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BLACK/ PARALLEL MARKET RATES

₦1400DOLLAR (USD)

₦1830POUND (GBP)

₦1515 EURO (EUR)

₦950 CANADIAN DOLLAR (CAD)

₦70 SOUTH AFRICAN RAND (ZAR)

₦350 UAE DIRHAM (AED

₦190 Chinese YUAN (CNY)

₦100 Ghanaian CEDI (GHS)

West African CFA ₦2240 (XOF)

Central African CFA ₦2180 (XAF)

₦820 Australian Dollar AUSSIE (AUD)

Business

NNPCL wants to sell 10% equity via IPO on NGX, LSE

NNPC is expected to spend at least the whole of 2027 preparing for the proposed offering, with the listing primarily intended to strengthen corporate transparency and governance in line with Nigerian law.

Published

4 days ago

November 4, 2026

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The Nigerian National Petroleum Company Limited (NNPC Ltd.) is considering selling between 5% and 10% of its equity through a potential initial public offering (IPO), with the proposed listing expected to focus primarily on Nigeria’s domestic capital market.

The Group Chief Executive Officer of NNPC Ltd., Bashir Bayo Ojulari, disclosed this in an interview with Reuters on Tuesday, November 3, 2026, adding that the company could also pursue a secondary listing in London or New York.

The disclosure comes shortly after the Dangote Petroleum Refinery’s IPO closed on October 27, following a two-week extension of its subscription period from the initial October 13 deadline.

Ojulari indicated that raising additional capital would be a secondary consideration rather than the main reason for going public.

The company is also considering listing some of its subsidiaries separately, following a model adopted by Abu Dhabi National Oil Company (ADNOC), the United Arab Emirates’ state-owned oil company.

Beyond the potential IPO, Ojulari disclosed that Chinese companies have expressed interest in acquiring equity stakes in some of NNPC’s smaller refineries, particularly the Port Harcourt and Warri facilities, which require substantial rehabilitation.