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AD Ports Group Agrees to Acquire Majority Stakes in Egypt's Transmar and Transcargo International (TCI)

Strategic Investment Extends AD Ports Group’s Presence in the Red Sea Container, Cargo, and Port Operations     Abu Dhabi, UAE – 1 July 2022: AD Ports Group, the vertically integrated trade enabler, today announced that it has reached an agreement to acquire a 70 percent equity stake in International Associated Cargo Carrier B.V., which wholly owns two Egypt-based maritime companies, Transmar International Shipping Company (“Transmar”) and Transcargo International S.A.E. (“TCI”).  The total purchase consideration (Enterprise Value) of this transaction amounts to AED 514 million (USD 140 million). The acquisition will be fully funded from AD Ports Group’s existing cash reserves, which stood at over AED 3 billion as of March 31, 2022. It is the first international acquisition ......read more

The National Experts Program Launches its Third Edition with Applications to Open on 1 July

• The National Experts Program (NEP) will accept applications from 1 July 2022 • The third edition focuses on three key strategic clusters: Economic Growth; Social Development; and Sustainability and Infrastructure • Open to Emirati professionals with at least 10 years of experience, the eight-month program is aligned with the UAE’s sustainable development priorities • Participants will be mentored by UAE government and business leaders and trained by executive educators and sector-specific specialists from leading partner organizations around the world • Modules will be developed in collaboration with world-class educational partners   Abu Dhabi, 30 June 2022: The National Experts Program (NEP) today launched its third edition and will be accepting applications from the 1st of July ......read more

Abu Dhabi Securities Exchange (ADX) Lists Invictus Investment Company on Growth Market

Abu Dhabi, 29 June 2022: Abu Dhabi Securities Exchange (ADX) announced that it has listed Invictus Investment Company, a trading firm specialising in agro-food commodities, raw materials for industries and finished goods, and a subsidiary of Invictus Holding Limited.  The company made its trading debut on Abu Dhabi Securities Exchange’s Growth Market as it takes steps to broaden the products it trades and expand its operations internationally.  Invictus Investment, which started trading today under the trading symbol INVICTUS, was established in Jebel Ali Free Zone in 2014 to manage raw material import requirements for large manufacturers in Sudan. It has since grown into a full-service trading company specializing in commodities, agri-food and finished goods across Africa, Middle East and Asia. The company also ......read more

INVICTUS Investment to List on Abu Dhabi Securities Exchange (ADX) Growth Market

• Dal Group announces Invictus listing on ADX, with an AED 3 billion valuation • The listing is on ADX Growth Market on June 29, 2022   Abu Dhabi, UAE; 28 June 2022: Invictus Investment, a subsidiary of Invictus Holding Limited and an affiliate of DAL Group, a Sudanese conglomerate and the largest private group in Sudan with an international business presence across Africa, the Middle East, and Asia, will list on the Abu Dhabi Securities Exchange (ADX) Growth  Market  on June 29, 2022, offering investors opportunity to invest in a fast growing and scalable agro-food and finished goods trading business.   Invictus Investment (Invictus) owns 100% shareholding in Invictus Trading FZE, which recorded total sales of over AED 2.9 Billion for the full year ended December 31, 2021, and over AED 1.75 ......read more

ADEX and EBID Sign Financing Agreement to Boost UAE Exports to West Africa

Abu Dhabi, 28 June 2022 – Abu Dhabi Exports Office (ADEX), the export-financing arm of Abu Dhabi Fund for Development (ADFD), has signed a financing agreement with the ECOWAS Bank for Investment and Development (EBID), whereby a line of credit of US$20 million will be opened between the two entities that will enhance strategic cooperation, leading to an increase in the volume of trade between the UAE and ECOWAS member states. The agreement also supports the establishment of additional credit lines and the provision of easier means for joint financing, thus boosting Emirati exports in the African market. The agreement was signed virtually by Khalil Al Mansoori, Acting Director General of ADEX, and Dr. George Agyekum Donkor, President and Chairman of the Board of Directors of EBID. H.E Mohamed Saif Al Suwaidi, Director General of ......read more

Alpha Dhabi increases stake in Aldar, becoming the Parent Company and Cementing Status as Single Largest Shareholder

Abu Dhabi, UAE; 28 June 2022:  Alpha Dhabi Holding PJSC, one of the fastest-growing investment holding companies in the UAE, listed on the Abu Dhabi Securities Exchange (ADX: Alphadhabi), has increased its stake in Aldar Properties PJSC, one of the leading real estate developers and managers in the UAE, reaffirming its position as the single largest shareholder and consequently becoming Aldar’s parent company.  Through this latest additional stake, Alpha Dhabi has raised its shareholding of Aldar, to complement its existing majority representation on Aldar’s Board of Directors. Accordingly, Aldar will be treated as a subsidiary in Alpha Dhabi’s consolidated financial statements, the impact of which will be reflected in its financial results for Q2 2022 onwards. The additional shareholding came through the ......read more

Tourism 365 and OACIS ME Sign Strategic Partnership Agreement to Provide Off-Airport Check-In Services in the Emirate of Abu Dhabi

His Excellency Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence was present during the signing ceremony  Abu Dhabi, UAE: 28 June  2022 – In the presence of His Excellency Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence, Tourism 365, the tourism development arm of the Abu Dhabi National Exhibitions Company (ADNEC) Group, officialised a five-year exclusive agreement with remote check-in solutions provider, OACIS ME LLC (Off Airport Check In Solutions).  A signing ceremony took place at the Abu Dhabi National Exhibition Centre, where His Excellency Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence, praised the strategic agreement for its intent to add value for travellers to Abu Dhabi and enhance their experience through the latest ......read more

ADQ Launches ‘ADQ Growth Lab' to Accelerate Innovation and R&D Across Key Sectors of the UAE Economy

• New community of innovators spanning ADQ’s broad portfolio aims to deliver real-world value and sustainable impact  • The community will drive innovation in products, services, processes, technologies and business models to enhance ADQ portfolio companies that operate across key sectors of the UAE’s diversified economy • Investments of more than AED 100 million to fund R&D testbed projects and AI and automation    Abu Dhabi, UAE – 23, June 2022: ADQ, an Abu Dhabi-based investment and holding company, has launched the ADQ Growth Lab, a community of innovators spanning ADQ’s broad portfolio. The ADQ Growth Lab represents the company’s commitment to innovation and R&D with a direct focus on creating value and sustainable impact across priority sectors of ......read more

ADX Launches FADX 15 Futures, The Exchange's First Index Derivatives

FADX 15 Futures offer investors a new way of investing on the ADX market    ABU DHABI, June 21, 2022:  The Abu Dhabi Securities Exchange (ADX) has launched FADX 15 futures contracts trading on its derivatives platform. The futures, based on the FTSE ADX 15 (FADX 15) Index, are the first index derivatives to be listed on the ADX as the exchange accelerates efforts to bolster market liquidity and attract more global investors.    FADX 15 futures are cash-settled contracts that will replicate the price performance of the benchmark FADX 15 index, which comprises the most liquid and the largest 15 companies listed on the ADX main market.  Each FADX 15 Index futures contract is equivalent to the dirham (AED) value of the FADX 15 index.    Launched in March 2022 with the aim of ......read more

ADX and Al Maryah Community Bank sign agreement to facilitate IPO subscriptions

ABU DHABI, 16 June 2022 – Abu Dhabi Securities Exchange and Al Maryah Community Bank (MBank), the UAE’s first digital bank, signed an agreement today to facilitate IPO subscriptions and streamline the process for obtaining a National Investor Number (NIN).  As part of the agreement, MBank customers will be able to digitally create a NIN and self-subscribe to IPOs on the Abu Dhabi Securities Exchange through the mobile app and online channels of MBank. The partnership follows recent ADX initiatives to encourage market participation, including an initiative to provide ADX access to investors registered on other UAE financial markets and updates to the exchange’s SAHMI application.    Commenting on the partnership, Saeed Hamad Al Dhaheri, Managing Director and Chief Executive Officer of ADX, said: ......read more

ADX's Successful London Roadshow Showcases the Growth and Strength of Abu Dhabi Capital Markets

ADX’s successful London roadshow showcases the growth and strength of Abu Dhabi capital markets as international institutional investor participation and demand continues to increase Abu Dhabi, UAE - 14 June 2022: Abu Dhabi Securities Exchange (ADX) has successfully completed a London investor roadshow which saw ADX host a delegation of over 25 senior executives from 9 listed companies and the exchange. The sizeable Abu Dhabi capital market representation reinforces the strong focus on investor relations and continuous dialogue that ADX and its listed companies continue to foster with international and institutional investors. Over the course of the two-day event, ADX’s delegation hosted 204 investor meetings across 47 one-on-one meetings and 37 group meetings, meeting a total of 89 institutional investors including ......read more

Ogilvy Promotes Elaine Grell to Chief People Officer across EMEA

June 14, 2022 – Ogilvy has promoted renowned People leader Elaine Grell to the position of Chief People Officer across EMEA. While now responsible for the EMEA region,  Elaine will continue to work closely with Fiona Gordon, CEO Ogilvy UK, to strategically drive the UK People agenda. Elaine will lead the agency network’s People teams and drive its "people first" strategy, ensuring Ogilvy continues to be  the best place for people to grow their careers.  Before coming to Ogilvy, Elaine worked in the hospitality, leisure and real-estate industries in the UK and US for IHG, British Airways and The Collective. She is a fellow of the Chartered Institute of Personnel Development and holds an MBA from the Open University.  Elaine has also been a trustee of The Springboard Charity for the last ......read more

ADQ and Jordan's Ministry of Digital Economy and Entrepreneurship Launch $100 million Tech Fund

• Fund will invest in high-growth technology companies and funds in sectors including healthcare and life sciences; food and agriculture, mobility and logistics • Capital will be primarily invested in Jordan to help advance its vibrant technology ecosystem  • Partnership reflects ADQ’s commitment to being a long-term investor in the Jordanian economy   Abu Dhabi, UAE – 08 June 2022: ADQ, an Abu Dhabi-based investment and holding company, today announced the launch of a $100 million technology-focused venture capital fund (the Fund) with the Ministry of Digital Economy and Entrepreneurship (MoDEE) of Jordan, in the presence of His Excellency the Prime Minister of Jordan, Bisher Al Khasawneh. The Fund aims to support high-growth technology companies and the continued growth of the ......read more

Abu Dhabi Securities Exchange (ADX) Hits Historic AED 2 Trillion Market Capitalization Milestone

As a result of this landmark milestone, ADX is now the second largest exchange in the Middle East in terms of market capitalization   Abu Dhabi, UAE - 07 June 2022: The Abu Dhabi Securities Exchange (ADX)’s market capitalization opened above AED 2 trillion (USD 545 billion) on Monday 6th June for the first time in its history, marking a landmark milestone that has made the region’s youngest exchange, the second largest in the Middle East in just two decades.    The 25% year-to-date spike in the exchange’s market capitalization was bolstered by a spate of IPOs and listings over the past year, including Abu Dhabi Ports, Fertiglobe, ADNOC Drilling, Alpha Dhabi and Multiply Group. Most recently, petrochemicals company Borouge raised USD 2 billion in an IPO and listed last week, while ADQ and ......read more

Multiply Group added to FTSE Global Equity Index Series

Abu Dhabi, UAE - 6 June 2022: Multiply Group (ADX: Multiply or the “Group”), a technology-focused holding company based in Abu Dhabi, has been added to the FTSE Global Equity Index Series (FTSE GEIS) Mid Cap Index in its June quarterly review. The inclusion comes into effect on Monday 20 June 2022.  FTSE GEIS is part of the FTSE Russell, a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. The FTSE GEIS provides a robust global equity index framework and includes over 16,000 large, mid, small and micro-cap securities across 48 developed and emerging markets globally, with a wide range of modular indexes available to target specific markets and market segments. Samia Bouazza, CEO and Managing Director at Multiply Group, said: “Joining the FTSE ......read more

ADX and 9 listed Companies to meet Major Institutional Investors in London as Strong market Performance Raises International Profile

Abu Dhabi, UAE - 6 June 2022:  Abu Dhabi Securities Exchange (ADX) and 9 ADX-listed companies will meet major institutional investors in London on June 9-10 as part of a strong Abu Dhabi capital market representation aiming to further increase portfolio investment into the country’s capital markets.   ADX will showcase its robust progress in its strategy to significantly increase liquidity and market capitalization. Achievements over the last year include the launch of a derivatives market and ETFs (exchange traded funds) as well as the introduction of a regulatory framework for SPACs (special purpose acquisition companies).  ADX has experienced a 25% year-to-date increase in market capitalization to close to AED 2 trillion (USD 545 billion), bolstered by a series of IPOs and listings over the past year ......read more

ADEX Chief Holds Meeting with Officials from Department of Economic Development to Discusses Cooperation Over Export Promotion

Officials highlight the necessity to develop mechanisms to support economic diversification and promote trade between the UAE and the rest of the world Abu Dhabi, 2 June 2022 - Khalil Al Mansoori, Acting Director General of Abu Dhabi Exports Office (ADEX), met officials from Industrial Development Bureau representing Abu Dhabi’s Department of Economic Development. They reviewed cooperation and strategic partnership, as well as plans to promote exports and support the national economy. Al Mansoori said: “The meeting is part of an initiative to unite the national effort, strengthen strategic cooperation, create new opportunities for UAE companies and help them expand their business and global footprint.” He emphasized the importance of the cooperation agreement signed last year with the Department of ......read more

ADC Acquisition Corporation Shares to Start Trading on ADX from Friday 27 May

• The company’s shares and warrants will commence trading on the ADX main exchange from May 27 • The UAE’s first Special Purpose Acquisition Company (SPAC) will aim to identify and acquire one or more high-growth, high potential businesses in the MENA region  • The listing positions ADX at the forefront of regional financial markets   Abu Dhabi, UAE – 27 May 2022: ADQ, an Abu Dhabi-based investment and holding company, and Chimera Investment, a leading Abu Dhabi-based private investment firm managing a diversified portfolio of listed and unlisted equities on both local and international markets, announced today that shares and warrants of the co-established SPAC, ADC Acquisition Corporation PJSC (ADC), commences trading on the Abu Dhabi Securities Exchange (ADX) under ticker code ......read more

ADFD Hosts Mauritian Envoy, Explores Prospects for Expansion of Partnership in Diverse Areas

Projects funded by Abu Dhabi Fund greatly improved the quality of life in Mauritius, says Ambassador Shaukat Ali Soudhan   Abu Dhabi, May 23, 2022 – H.E Khalifa Al Qabisi, Deputy Director General of ADFD, hosted Shaukat Ali Soudhan, Ambassador of Mauritius, at the Fund’s headquarters in Abu Dhabi. They explored expansion of cooperation that would bolster crucial sectors in Mauritius.    Al Qabisi said that the meeting was part of periodic interactions that are held to discuss cooperation over mutual interests and priorities. “The visit was also an important opportunity to follow up on infrastructure projects financed by ADFD in Mauritius,” he said, noting that such strategic projects have stimulated the Mauritian economy.    He expressed hope that more opportunities would come up in ......read more

BCC Group International Announces Diversification into Property Development

BCC Group International, one of the largest manpower services companies in the UAE, has embarked on a major expansion into Real Estate development and Facility Management after successfully diversifying its activities into construction, interior fit-out, transport services etc. BCC, operating in the UAE, Qatar, Saudi Arabia, and India, is also looking at expanding operations to other parts of the Middle East and Northern Africa (MENA) region. “The real estate industry is in for another boom after the Covid-19 pandemic-induced slowdown and we want to take advantage of the conducive situation with a forward integration strategy,” said Amjad Sithara, Founder Chairman of BCC Group International, on the sideline of an event to inaugurate BCC’s Abu Dhabi office located at Al Fahim Building, Musaffah M-4, Abu ......read more

Alpha Dhabi to Invest AED 9.2 billion in Landmark ‘Alpha Wave Ventures II' Fund

Abu Dhabi, UAE: 19 May 2022: Alpha Dhabi Holding PJSC, one of the fastest-growing investment holding companies in the UAE, listed on the Abu Dhabi Securities Exchange (ADX: Alphadhabi), has made a AED 9.2 billion commitment to invest in Chimera Capital and Alpha Wave’s landmark ‘Alpha Wave Ventures II’ venture fund which was announced and launched at the beginning of the year.  The total commitment comprises a capital contribution of AED 2.6 billion and undrawn capital commitment of AED 6.6 billion which will be drawn down over the investment period of the fund. The venture capital  fund – which has already begun making investments – has a global remit, and will focus on multi-stage private firms, with a concentration on growth stage companies across a wide range of sectors including ......read more

Abu Dhabi Securities Exchange Announces the Secondary Listing of Sweihan PV Power Company's Green Bond

Abu Dhabi, UAE – 12 May 2022: Abu Dhabi Securities Exchange (ADX) has announced the secondary bond listing of US$700 million of fixed-rate amortising senior secured green bonds, marking the first green bond to be listed on the exchange. The bonds were issued by Sweihan PV Power Company (SPPC), the project company that built, owns and operates Noor Abu Dhabi, one of the world’s largest single site solar projects.  The secondary listing represents the first green bond listed on ADX and takes the total number of debt instruments listed on ADX to 28 as the exchange continues to execute on its ‘ADX One’ strategy of attracting new listings and innovative product offerings to its growing and dynamic platform.  Commanding the listing, HE Eng. Ahmed Al Rumaithi, Undersecretary of Abu Dhabi Department of ......read more

Alpha Dhabi Reports AED 2.84 Billion in Q1 2022 Net Profit amid Ramp up of Investment Activity

Strong Q1 2022 performance with record revenue of AED 8.17 billion, representing a year-on-year increase of 700%  Continued growth in assets with total assets reaching AED 52.56 billion as at the end of Q1 2022   Abu Dhabi, UAE - 11 May 2022: Alpha Dhabi Holding PJSC (“Alpha Dhabi” or “the Company”), one of the fastest-growing investment holding companies in the UAE, listed on the Abu Dhabi Securities Exchange (ADX: ADH), has announced its financial results for the first quarter of 2022.   This announcement marks the first set of Q1 results for Alpha Dhabi since its successful direct listing on ADX in June 2021 and transformation into one of the largest investment holding companies in the UAE. As a result of this, the comparable figures for Q1 2021 relate to the last reported ......read more

ADC Acquisition Corporation, UAE's first SPAC, to open IPO Subscription on 12 May

• ADC Acquisition Corporation (ADC) aims to raise AED 367 million through its listing on Abu Dhabi Securities Exchange (ADX)  • ADC sponsors offer unique operational and management expertise to target companies • SPAC will look at scalable businesses across the MENA region with strong management and high-growth trajectory looking for faster execution      Abu Dhabi, UAE – 10 May 2022: ADC Acquisition Corporation PJSC (ADC), the UAE’s first Special Purpose Acquisition Company (SPAC), today announced its Initial Public Offering (IPO) subscription period will start on 12 May and run until 19 May 2022.   Shares will be available for purchase to retail and professional investors in a public subscription in the UAE and listed on the Abu Dhabi Securities Exchange (ADX). ......read more

Ogilvy EMEA Chairman Paul O'Donnell Announces Retirement, Ending Distinguished Four-Decade Career at Ogilvy

NEW YORK- MAY 5, 2022:  Ogilvy today announced that Paul O’Donnell, Chairman of Ogilvy EMEA, will be retiring after 37 years with the agency. Throughout his tenure, O’Donnell has held a range of leadership positions spanning clients, geographies, and businesses. “It has been an honour to have worked with thousands of Ogilvy colleagues and clients across the globe during my career. It has been a rich and fulfilling experience in which I have travelled the world and helped grow brands and businesses in just about every market you can imagine,” O’Donnell said. “The longevity of my career was due to two things: working with great people and managing to bring enough variety to my roles. Now, I’m proud to leave behind a highly skilled and experienced team that is driving the business ......read more

AD Ports Group Signs Term Sheet and Head of Terms Agreements for Port Projects in Egypt

Agreements focus on joint development and operation of a Multipurpose Terminal in Safaga Port and management of cruise ship berths at Sharm El Sheikh, Hurghada and Safaga ports   Abu Dhabi, UAE – 5 May, 2022: AD Ports Group and the Red Sea Ports Authority have signed a Term Sheet and a Head of Terms agreement for major port projects along Egypt’s coastline. The first agreement will see AD Ports Group develop, operate, and manage a multi-purpose terminal in Safaga Port in a consortium with the Red Sea Ports Authority and the Egyptian Group for Multipurpose Terminals Company, the commercial arm of the Egyptian Ministry of Transportation. The multi-purpose terminal project in Safaga Port is an important national project due to its strategic location on the Red Sea. Upon completion in 2024, the terminal will offer ......read more

Hotpack Global to invest AED 350m to build 10 Biodegradable Packaging Plants in Malaysia

• The Dubai-based food packaging manufacturer aims to produce 70 million units of sustainable, consumer packaging products annually, since completion of the first plant.    • Facilitated by Malaysian Bioeconomy Development Corporation, this project is dubbed a major result of bilateral trade enhancement programs initiated at Expo 2020 Dubai.    Dubai, April 23 2022: Hotpack Global, UAE-based leading food packaging manufacturer, has announced its plan to invest AED 350 million in Malaysia over the next 10 years to construct 10 biodegradable packaging plants in partnership with Free The Seed Sdn Bhd, a Malaysian manufacturer of biodegradable products from rice straw, facilitated by Malaysian Bioeconomy Development Corporation.    Construction of the first plant, the first-ever ......read more

Strong Performance by UAE's Hotel Market in Q1 2022, Supported by Expo 2020 Dubai and International Visitors

JLL releases its Q1 2022 UAE Market Overview Year Report Dubai, UAE – 20 April 2022: Supported by the Expo event and returning international visitors, the UAE’s hotel market performed strongly in the first quarter of this year, according to JLL’s Q1 2022 UAE market overview report.  The uplift in overall performance was primarily driven by beachfront and luxury developments, which have been benefitting from strong leisure demand. Also, both upper-upscale and midscale hotels saw higher average daily rates (ADR).  Khawar Khan, Head of Research for the Middle East, Africa & Turkey region at JLL said, “Post-pandemic, operators may look towards adopting a more robust revenue management strategy to help owners achieve a higher bottom line. The resultant short-term impact may be a small dip ......read more

The Growing Business of Returns

NIRANJAN GIDWANI CONSULTANT DIRECTOR | MEMBER UAE SUPERBRANDS COUNCIL | CHARTER MEMBER TIE DUBAI Welcome to the world of a progressively growing “unboxed” or “refurbed” market. This now spans across product categories ranging from electronics to wearables, home appliances, furniture, apparel, and even footwear. This article aims to focus mainly on the electronics, mobility, and appliances segment. Apart from a host of specialized sellers who sell via their own platforms, or through offline stores, this seconds market, also called the “Reverse ecommerce market” has generated a good amount of interest from ecommerce giants like Amazon, Back Market, ReBoot, and from product brands like Apple and Samsung. In India, Amazon has branded this as the “Amazon Renewed” ......read more

LG Technology and the Dubai Cares Pavilion at Expo 2020

Interview with Dubai Cares Spokesperson: Dr. Tariq Al Gurg, Commissioner General for the Dubai Cares Pavilion at Expo 2020 Dubai and Chief Executive Officer and Vice-Chairman of Dubai Cares Question 1:  Why is Expo an important platform for Dubai Cares?  Answer 1:  The Dubai Cares Pavilion at Expo 2020 Dubai represents much more than a dedicated space for an organization that is participating in this much-awaited global event. It embodies the deep-rooted values of generosity and far-sightedness that are so entrenched in the UAE culture and is a showcase of the tireless efforts of our country’s leadership and people in contributing towards an equitable and inclusive future for all children globally. In addition to highlighting how far we have come in our journey to enabling equal access to quality education, ......read more

Intel Commits to Net-Zero Greenhouse Gas Emissions in its Global Operations by 2040

Intel’s plan sets goals for reducing value chain footprint and catalyzing industrywide action to address climate change.   What’s New: Today, Intel Corporation announced plans to further reduce its direct and indirect greenhouse gas emissions and develop more sustainable technology solutions. The company pledged to achieve net-zero greenhouse gas emissions in its global operations by 2040, to increase the energy efficiency and lower the carbon footprint of Intel products and platforms with specific goals, and to work with customers and industry partners to create solutions that lower the greenhouse gas footprint of the entire technology ecosystem.   “The impact of climate change is an urgent global threat. Protecting our planet demands immediate action and fresh thinking about how the world ......read more

Safeguarding the Financial System Against Cyber Breaches is a Priority, Experts Say

Dubai, UAE - 13 April 2022 – Emirates Institute for Banking and Financial Studies (EIBFS), a regional leader in banking and finance education and training, hosted a free-of-charge webinar to assess the current cybersecurity challenges that might face the financial institutions and services in the UAE and the importance of having proactive steps to safeguard businesses from cyberattacks.   The virtual session titled ‘The Cybersecurity Challenges and the Protection of the Digital Revolution’ is part of the EIBFS conversational learning initiative, which aims to host periodic talks to cover timely banking and finance-related subjects as part of its community outreach goals.   The webinar drew over 100 participants and a panel of expert speakers including Praveen Vackayil, Senior Manager Digital Trust at PwC ......read more

ADQ and Chimera Investments Partner to Launch UAE's first SPAC on ADX

• ADC Acquisition Corporation PJSC (ADC) plans to raise AED 367 million through IPO • New Special Purpose Acquisition Company will aim to identify and acquire one or more high-growth, high potential businesses in the MENA region • Listing comes to ADX amid the exchange’s record-setting performance in the first quarter of 2022   Abu Dhabi, UAE – 13,  April 2022:  ADQ, an Abu Dhabi-based investment and holding company, and Chimera Investments, a leading Abu Dhabi-based private investment firm managing a diversified portfolio of listed and unlisted equities on both local and international markets, announced today they have established ADC Acquisition Corporation PJSC (ADC), the UAE’s first Special Purpose Acquisition Company (SPAC).    ADC plans to raise AED ......read more

CS Event's 3rd Digital Health MENA taking Place on June 7 to focus on US$252 bn Digital Healthcare Market

The remote healthcare market in the MENA region that is undergoing digital transformation, is growing at 12.8% to $1.8 billion in 2024     Date: Dubai, UAE, April 11, 2022   News Highlights: 1. Digital health market is growing at a rate of 24 percent year-on-year from US$252.47 billion in 2022 to US$596.56 billion in 2026;   2. Digital health start-ups worldwide attracted US$21.3 billion investment through 541 deals, dwarfing the $14.6 billion record of 2020;   3. In 2022, 320 million consumer health and wearable wellness devices are expected to ship worldwide. By 2024, that figure will reach 440 million units;   4. The global market for connected medical devices is expected to reach US$94.2 billion by 2026, up from US$26.5 billion in 2021.   More than 150 ......read more

Sultan Al Jaber Visits Gulf Extrusions, One of the Largest National Aluminum Extrusion Factories in the Middle East

Dubai, UAE -  10 April 2022:  His Excellency Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology headed a delegation in a visit to the Jebel Ali headquarters of Gulf Extrusions, the world’s leading manufacturer of aluminum extrusion products and the most automated aluminum extrusion company in the GCC, where factory operations are 100% process controlled and highly automated. This visit is part of the Ministry’s strategy of direct communication with companies the industrial sector as it seeks to support all local partners in the priority national industrial sectors, such as heavy industries, which include aluminum and other important sectors. This outreach includes discussions on ways to provide additional facilities for projects that support their strategic plans and enhance the ......read more

Yotta Partners with Virsec to offer True Runtime Protection Cybersecurity Service

Enterprises can now secure their workloads in real time with Virsec’s patented and award-winning runtime protection solution Dubai, UAE April 11, 2022: Yotta has announced its partnership with Virsec, through which enterprises across India that are either hosted at Yotta data center or their captive on-premises data center or any public cloud can now get access to Virsec’s patented Deterministic Protection Platform (DPP). It is the only security solution that ensures precise protection against zero-day, ransomware and evolving cyber-attacks to workloads deployed in production. DPP precisely maps what an application or software is intended to do and stops them instantly when they behave abnormally within milliseconds.  “Virsec is backed by a solid team, and we are very impressed with their award-winning true ......read more

Ykone Continues Its Expansion in the Middle East with the Opening of Two New Offices in Riyad and Abu Dhabi

Founder's Memorial YKONE, the leading international influencer marketing agency in the fields of luxury and beauty, continues to expand in the Middle East. Present in Dubai since 2016, the agency announces the opening of two new offices in the region’s most dynamic cities, Riyad and Abu Dhabi. Already established in Dubai for the past six years, YKONE has developed a regional hub through which to work alongside brands on influence campaigns and content creation. In the Middle East, YKONE already counts among its clients Procter & Gamble, L’Oréal, Coty, Canon and Marriott. At the heart of Dubai Design District, its local office will continue to collaborate with fashion, beauty and lifestyle brands.   Qasr Al Hosn This expansion is strategic as the Middle East is a true social media powerhouse supported by ......read more

Hotpack Group MD receives CEOforLIFE award

Dubai, April 08, 2022:  The Group Managing Director of Hotpack Global, the world’s leading manufacturer of disposable food packaging products, was honoured with CEOforLIFE Award for creating new benchmarks of excellence in meeting the UN Sustainable Development Goals (SDGs). Mr. Abdul Jebbar PB received the award at a function - CEOforLIFE - ECI United Arab Emirates & Global Awards 2022 - held at the Terra Auditorium at the Sustainability Pavilion of Expo 2020 Dubai.  The CEOforLife Awards honour CEOs who have carried out the best life projects and set new standards of service in their SDGs projects to achieve a better and more sustainable future in the marketplace.   “It is an honour for me personally, and for Hotpack Global, to be recognized for our endeavors in the sustainability space. ......read more

Ericsson and Oman Ministry of Higher Education, Research and Innovation launch Center of Excellence Technical Mentorship Programs

• Ericsson and Oman Ministry of Higher Education, Research and Innovation launch technical mentorship programs for selected students at Innovation Park Muscat • The program will mentor students in developing IoT use cases using the latest 5G and IoT technology as part of CoE. • A total of 15 students ranging from various undergraduate and postgraduate programs will be involved in the mentoring program.  • The students will be working on three main IoT use cases related to the nation’s agriculture and water sector.    Ericsson (NASDAQ: ERIC) and Oman Ministry of Higher Education, Research and Innovation (MoHERI) launch an extensive technical mentorship program for a selected group of talented students from Sultan Qaboos University (SQU) to be held at the Center of Excellence for ......read more

The Future is Hybrid: Herman Miller Officially Introduces the OE1 Workspace Collection in the Region

Leading interior designers discussed the future of work and tested the latest furniture collection during the “Designing for the Future with OE1” event, hosted by Herman Miller  UAE - 5th April 2022: Leading workspace designers reimagined the future of the office during the design workshop hosted by Herman Miller’s regional office. The OE1 Workspace Collection is now on display and in use at Herman Miller's showroom in Dubai’s Marina Plaza. “Designing for the Future with OE1” event first saw dealers, top interior designers, and clients across the Middle East connect virtually with designers Sam Hecht and Kim Colin of London-based Industrial Facility who shared the design story behind the new collection. Industrial Facility—is in central London’s Clerkenwell neighborhood. ......read more

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Future of Knowledge Foresight Report outlines four recommendations to enhance readiness in the face ...…

Dubai, UAE, 09 June 2022 – ‘The Future of Knowledge: A Foresight Report’ released by the Mohammed Bin Rashid Al Maktoum Knowledge Foundation (MBRF) and the United Nations Development Program (UNDP), has outlined four recommendations for policy makers to support countries in developing their collaborative and innovative capabilities. These recommendations also serve as guidelines ......read more

Al Rajhi Bank Jordan opts for ICS BANKS Business Suite from ICS Financial Systems…

UAE: Al Rajhi Bank – Jordan, one of Al Rajhi Bank’s international branches, has selected  ICS BANKS Islamic and ICS BANKS Digital Banking software solutions from ICS Financial Systems (ICSFS), the global software and services provider for banks and financial institutions.  Founded in 1957, Al Rajhi Bank is the largest Islamic bank in the world.  Al Rajhi Bank has ......read more

Emirates Development Bank Announces AED1.91 Billion Contribution to GDP at First Board Meeting of ...…

 First year of new EDB strategy has helped add AED1.91 billion to the national economy and supported the growth of more than 1,350 SMEs  EDB onboards more than 1,000 new business banking accounts in six months of its digital banking app launch   EDB Successfully launched its large corporate banking division in less than a year from new strategy ......read more

Dubai: The Opus Turns off Its Lights in a Memorial Gesture to the Late Zaha Hadid…

Dubai, UAE, 4 April 2022: In commemoration of the late Iraqi architect Zaha Hadid, Omniyat Real Estate Group turned off the lights of its urban icon 'The Opus' in the heart of Business Bay, in appreciation and honor of its designer, who passed away on March 31, 2016. The first and only building designed by the late Zaha Hadid in Dubai and the United Arab Emirates, 'The Opus' ......read more

QNET Drives Sustainability Message on World Water Day 2022…

Social awareness campaign during March 21 - 25, 2022 across radios in three languages wrapped in competition H2O  Dubai, March 29, 2022:  The global e-commerce based direct selling company, QNET, held a campaign on water sustainability and plastic alternatives awareness campaign kick starting the activity across radios on the World Water Day on March 21, 2022. In a statement, ......read more

BCG and SAP Join Forces to Transform Companies into Sustainable Enterprises…

• BCG and SAP will provide transparency on sustainability ‘at the push of a button’ and deliver impact based on a combination of strategy, technology, and business model change, with BCG and SAP solutions that can be ready to use within weeks • BCG and SAP want to help accelerate companies in their journey to zero waste and zero emissions. BCG and SAP can enable companies ......read more

Abu Dhabi Fund for Development Finances AED692 Million Projects in Bangladesh…

UAE-Bangladesh Investment Company provides crucial support to many of government’s objectives    ABU DHABI, March 25, 2022:  Abu Dhabi Fund for Development (ADFD) and the Government of Bangladesh have enjoyed close relations for more than 40 years. The ties enabled ADFD to drive development in Bangladesh through financing major developmental projects amounting to AED692 ......read more

Khazna Data Centers Achieves Tier-III Certification from Uptime Institute for its Apollo 5 and ...…

Abu Dhabi, UAE – 24, March 2022 – Khazna Data Centers, the United Arab Emirates (UAE) largest data center provider achieved the Uptime Institute’s Tier III certification of Constructed Facility for its Apollo 5 and Apollo 6 data centers. Earlier this year, Khazna was awarded the same accreditation for its Apollo 3 and 4 facilities.  Data centers are both drivers and ......read more

Wayout International to Revolutionize the City's Water Supply…

• Award-winning Swedish sustain-tech company, the official host of water week will discuss the importance of technological solitons to combat water scarcity    • Wayout will showcase its revolutionary smart water systems, hold expert discussions, and screen mini documentaries   • Activities will take place across Expo’s Swedish pavilion at the ......read more

Under the patronage of H.H. Sheikh Ahmed bin Humaid Al Nuaimi Ajman Free Zone honours the winners ...…

Winners were chosen by a judging committee consisting of leaders and industry experts March 17, 2022: Under the patronage of H.H. Sheikh Ahmed bin Humaid Al Nuaimi, Chairman of the Board of Directors of the Ajman Free Zones, Ajman Free Zone (AFZ) honoured the winners of the first edition of its Sustainability Awards. The ceremony was held on Thursday, March 17, at the AFZ’s AI Robotic ......read more

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