Business
Heineken to launch first large-scale brewery in Dubai
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.
Business
Exchange Rates Today Friday, 12 June
Black Market Rates
US Dollar (USD) ₦1,397
Great British Pound (GBP) ₦1,850
Official CBN Exchange Rates
US Dollar (USD) ₦1,363. 83
Great British Pound (GBP) ₦1,821. 25
EURO (EUR) ₦1,572. 90
SWISS FRANC (CHF) ₦1,706. 49
JAPANESE YEN (JPN) ₦8.50
CHINESE YUAN (CNY) ₦201.20
West African CFA (XOF) ₦2.40
West African Unit Account (WAUA) ₦1,857. 45
SAUDI RIYAL (SAR) ₦363. 29
SOUTH AFRICAN RAND (ZAR) ₦82.61
Black Market Rates
US Dollar (USD) Buy ₦1,397 Sell ₦1,405
Great British Pound (GBP) Buy ₦1,850 Sell: ₦1,870
EURO (EUR) Buy ₦1,587 Sell ₦1, 607
Canadian Dollar (CAD) Buy ₦1,030 Sell ₦1,100
South African Rand (ZAR) Buy ₦75 Sell ₦90
UAE Dirham Buy ₦350 Sell ₦370
Chinese Yuan Buy ₦180 Sell ₦200
Ghana Cedi (GHS) Buy ₦95 Sell ₦110
West African CFA Buy ₦2, 380 Sell ₦2, 460
Central African CFA Buy ₦2, 220 Sell 2,300
Australian Dollar Buy ₦800 Sell ₦900
Business
Airtel launches data calculator to counter depletion complaints
Commenting on the significance of the launch, Dinesh Balsingh, Chief Executive Officer, Airtel Nigeria, said that the company remains focused on building a network and customer experience ecosystem anchored on trust, transparency and continuous improvement.
Airtel Nigeria has launched the Airtel Web Data Calculator, a new digital tool designed to help customers estimate and better understand their internet data consumption based on real-life usage patterns.
Available through Airtel’s website, the calculator enables customers to estimate data usage across common digital activities such as video streaming, social media engagement, voice and video calls, and everyday web browsing.
Speaking on the launch, Oladokun Oye, Customer Experience Director, Airtel Nigeria, said that the initiative reflects Airtel’s commitment to customer empowerment and service transparency.
“As Nigerians become increasingly dependent on digital services for work, education, entertainment and communication, it is important that customers have clear visibility into how their data is consumed.
The Airtel Web Data Calculator was developed to help our customers understand their usage patterns better, make informed choices, and enjoy greater confidence in their digital experience,” he said.
Commenting on the significance of the launch, Dinesh Balsingh, Chief Executive Officer, Airtel Nigeria, said the company remains focused on building a network and customer experience ecosystem anchored on trust, transparency and continuous improvement.
“The future of telecommunications will be defined not only by network investments but also by how effectively operators help customers understand and manage their digital lives. The Airtel Web Data Calculator represents a practical innovation that places more information and control directly in the hands of our customers.” He said.
Business
Kingsley Moghalu chairs Bluecode Africa subsidiary in Nigeria
Moghalu served as Deputy Governor of the Central Bank of Nigeria from 2009 to 2014, heading the Financial System Stability and Operations Directorates at different periods.
Bluecode Africa, the European payments infrastructure operator backed by leading US and European institutional investors, has named Prof Kingsley Chiedu Moghalu as Chairman of the Advisory Board of its Nigerian subsidiary, Bluecode Payments Nigeria Limited as the company formally enters the Nigerian market.
The appointment was jointly announced by Chris Pirkner, Founder of Bluecode, and Odin Krismayr, Managing Director of Bluecode Africa, who described it as a foundational governance decision for the company’s Nigerian and continental operations.
Moghalu served as Deputy Governor of the Central Bank of Nigeria from 2009 to 2014, heading the Financial System Stability and Operations Directorates at different periods.
He led the team that introduced the unique-identifier Bank Verification Number (BVN), enrolling 50 million banking users, simplifying Know Your Customer (KYC) procedures, and doubled Nigeria’s financial inclusion rate from 33 to 60 per cent.
FIFA World Cup 2026 Day 3: Qatar draws Switzerland 1: 1
Balogun: This is something I dreamed of for a long time
BREAKING: Retired General Dies in Kidnappers’ Captivity, Demand Release of Gang Members
Tech Expert, Zuckerberg trains with UFC champions, Adesanya, Alexander
Organ Trafficking: Ekweremadu bags 10 years in UK prison
SAINT OBI: Between his marriage and his death
-
Business3 days agoExchange Rates Thursday,11June 2026
-
News3 days agoJUST IN: Nigerians evacuated from South Africa arrives Lagos
-
Business3 days agoFCMB appoints Rewane non-executive director, board chair
-
Business3 days agoKingsley Moghalu chairs Bluecode Africa subsidiary in Nigeria
-
News2 days agoBREAKING: House of Reps Unveils New Minority Leader
-
News3 days agoNLC President Joe Ajaero wins Arthur Svensson International award for worker’s rights
-
Business3 days agoAirtel launches data calculator to counter depletion complaints
-
Sports2 days agoDavido uses W’Cup stage to demand action for abducted Nigerian pupils