AbuDhabiPR.com, Online Press Release from Abu Dhabi and Al Ain
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AD Ports Group Announces Merger of KEZAD Communities with Al Eskan Al Jamae LLC

Creates Abu Dhabi’s Largest Integrated Operators of Staff Accommodations with Combined Equity Value of approximately AED 7 billion       Abu Dhabi, UAE – 6 December 2022:  AD Ports Group (ADX: ADPORTS) the leading facilitator of trade, logistics, and industry, today announced the merger of KEZAD Communities with Al Eskan Al Jamae LLC (“EAJ”) to create Abu Dhabi’s largest integrated staff accommodation company in which AD Ports Group will retain a controlling majority stake. The combined entity will have an equity value of approximately AED 7 billion, positioning it as one of the largest such businesses in the UAE. For the 9 months ended 30 September 2022, revenue was AED 275 million for KEZAD Communities and AED 205 million for EAJ. For the 9 months ended 30 September 2022, ......read more

ADX recognised for outstanding performance winning two World Business Outlook awards

Abu Dhabi, 05 December 2022: The Abu Dhabi Securities Exchange (ADX) has been awarded by World Business Outlook for ‘Best Trading Securities Exchange - MENA 2022’ and ‘Best Trading Derivatives Exchange – MENA 2022’ for accomplishments since 2021.  ADX won the ‘Best Trading Securities Exchange - MENA 2022’ award for reaching a record market capitalisation of more than AED 2.6 trillion making it the second largest exchange in the Middle East. This follows the acceleration of ADX strategy to attract listings and diversify its investment products. During the year, the Exchange maintained a robust pipeline of IPOs and listings including Bayanat AI, ADNOC Drilling, Yahsat and Burjeel. The exchange is today also home to eight Exchange Traded Funds (ETFs), making it the largest and most liquid ......read more

Abu Dhabi's G42 Healthcare Collaborates with AWS to Transform Healthcare Data into Insights

• Amazon Omics is the latest addition to AWS’s growing AWS for Health suite  • It integrates data of individuals with their medical history to deliver more personalized care • The solution uses purpose-built data stores to support large-scale analysis and collaborative research across entire populations   Abu Dhabi, UAE – December 5, 2022 : Amazon Web Services (AWS), an Amazon.com company (NASDAQ: AMZN), has announced the launch of its newest addition to AWS’s growing AWS for Health suite of purpose-built services. Amazon Omics supports large-scale analysis and collaborative research, without customers needing to worry about provisioning the underlying infrastructure.   With Amazon Omics, users can devote more time to science and improving health while knowing that the ......read more

256 Network Signs MOU with Abu Dhabi Global Market

• Expanding their footprint across GCC   • Consolidating bilateral relations between India and the UAE   • Launch of the Emerging Fund Managers Fellowship for first and second time fund managers globally      Standing (L to R) Rajiv Sehgal (Chief Strategy Officer, ADGM), Prashanth Prakash (Founding Partner, Accel Partners & Founding Board Member, 256 Network )  Dhaher bin Dhaher (CEO of Registration Authority, ADGM), (Pankaj Gupta, Co-founder and Co-CEO of Gulf Islamic Investments & and Founding Board Member, 256 Network GCC Chapter) & Hamad Al Mazrouei (COO, ADGM) Sitting (L to R) Dhruv Sehra (Founder and CEO, 256 Network), Saeed Al Khoori, (Director of Sovereign and Strategic Partnerships, ADGM)   Abu Dhabi, United Arab Emirates, 5 December 2022: ......read more

National Day – ADDC Managing Director Quote

H.E. Saeed Al Suwaidi, Managing Director of Abu Dhabi Distribution Company, said: “Half a century ago, seven emirates came together to form a nation driven by a commitment towards progress and innovation. Guided by the vision of the UAE’s exceptional leadership, the country has made great strides in laying the foundation to ensure a safe, secure and prosperous tomorrow for all citizens and residents. On National Day, Abu Dhabi Distribution Company congratulates our wise leadership and the people of the UAE. We will continue to build on our many achievements, promoting excellence and innovation to ensure a sustainable future for all.” 

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Abu Dhabi Businesswomen Council and Kyrgyz Republic to Support Female Entrepreneurs

Abu Dhabi, UAE, 24 November 2022: The Abu Dhabi Businesswomen Council received a delegation from the Women’s League of Central Asia (Kyrgyz Republic) to promote the development and diversification of economic and bilateral partnerships between women entrepreneurs in Kyrgyzstan and the United Arab Emirates.  The meeting was attended by Her Excellency Asma Al Fahim, Chairwoman of the Abu Dhabi Businesswomen Council; H.E. Noor Al Tamimi, member of the Abu Dhabi Business Women Council, among other representatives of Abu Dhabi’s private sector.  The delegation from Kyrgyzstan included Mr. Marat Sharshekeev, President of Chamber of Commerce and Industry of the Kyrgyz Republic; Mrs. Elmira Bataeva, Vice President of Chamber of Commerce and Industry of the Kyrgyz Republic; Mrs. Asel Atabekova, Chairman of the ......read more

Ogilvy Celebrates a giant performance at this year's LIA's – Including awards for Global Network of the Year and Regional Network of the Year, Europe

November 23, 2022 — With 115 statues in total, including 3 Grand, Ogilvy earned the highly sought-after title of LIA Global Network of the Year. Three of the network’s regions were also awarded as Regional Network of the Year: Asia, South America and Europe.  Across EMEA, Ogilvy won 51 statues across six markets, with DAVID Madrid taking home the Regional Agency of the Year accolade. Impactful work from the region was championed with Golds being presented to campaigns for Dove’s ‘Toxic Influence’ and Relate’s ‘The Hornicultural Society’ by Ogilvy UK, Activision’s ‘Scratchboards’ and Burger King’s ‘Even more confusing times’ by DAVID Madrid. Further statues were won by Ogilvy Italy, Greece, Africa and South Africa.  Celebrating the success ......read more

AD Ports Group and TotalEnergies Join Forces to Explore Distributed Solar Opportunities

Collaboration to focus on mapping the full potential for solarisation across KEZAD Group’s built assets     Abu Dhabi, UAE – 21 November 2022: Khalifa Economic Zones Abu Dhabi - KEZAD Group, the integrated trade, logistics, and industrial hub of Abu Dhabi and a subsidiary of AD Ports Group, announces an agreement with TotalEnergies Renewables Distributed Generation Middle East & Africa, an affiliate of TotalEnergies, to explore opportunities to solarise assets across KEZAD’s industrial ecosystem.  TotalEnergies’ Renewables Distributed Generations develops, finances, builds and operates solar installations for industrial and commercial customers (I&C). This year, TotalEnergies’ reached 500 MW of onsite business-to-business solar distributed generation projects in operation ......read more

AJ Steel Sign Agreement with KEZAD Group to Expand Operations in Abu Dhabi

Agreement covers the development and operation of a steel pipe production facility in KEZAD, covering close to 96,000 square metres   Abu Dhabi, UAE – 16 November 2022: Leading UAE steel pipe manufacturer and exporter, AJ Steel, has signed an agreement with the integrated trade, logistics, and industrial hub of Abu Dhabi, Khalifa Economic Zones Abu Dhabi - KEZAD Group, for the development and operation of a large-scale steel pipe production facility in Abu Dhabi, to meet growing consumer demand.  Under the agreement, AJ Steel will expand its current operations in KEZAD through the development of a plot covering close to 96,000 square metres, which will bring its total to 200,000 square metres of leased land under industrial use.  The signing, which took place at ADIPEC 2022, follows the recent launch of a ......read more

AD Ports Group Delivers a Record Net Profit in Q3 2022 with 77% growth YoY

• Q3 Revenue grew by 53% YoY to AED 1,466 million driven by the Maritime and EC&FZ clusters   • Q3 EBITDA surged 52% YoY to AED 594 million, implying an EBITDA margin of 40.5%  • Q3 Net Profit jumped 77% YoY to AED 334 million • Organic CapEx remained high, with AED 1.6 billion spent in Q3 and AED 4.2 billion for 9M 2022 as per plan  • Ports Cluster container volumes grew 31% YoY for Q3 (+28% YoY for 9M 2022), on the back of increased capacity and higher utilization rate of 54% for Q3 • Net additions of new land leases of 0.4 sq km in Q3 (4.2 sq km for 9M 2022) • SAFEEN Feeders container volumes increased 34% YoY in Q3 (+27% for 9M 2022)  • Maritime Cluster Q3 2022 revenue was up +408% YoY to AED 676 million, driven by new business segments and ......read more

Tabreed's Q3 2022 Financial Results Prove Company is on the Road to Even Greater Success

Connected Capacity and profits increase, while Tabreed expands its international presence Third quarter saw changes to Foreign Ownership Limits and major new deal signing in Egypt   Abu Dhabi, United Arab Emirates – 15 November 2022: Tabreed, the UAE’s leading district cooling provider, yesterday released its consolidated financial results for the first nine months of 2022, reporting an EBITDA of AED 912 million – an 18% increase over the same period last year – and a net profit of AED 400 million, representing a 3% increase.   During the past three months, Tabreed made two significant announcements. On 13 September, it was confirmed that shareholders voted to harmonise with recent UAE changes to commercial law by increasing its Foreign Ownership Limit (FOL) to 100% – a ......read more

Abu Dhabi Motorsports Management Announces Official Retail Partnership with Global Sportwear Brand, Castore

The partnership agreement will see Castore Sportswear serve as the Official Apparel Partner to Abu Dhabi Motorsports Management (ADMM) – as well as providing apparel to the award-winning motorsports event team at Yas Marina Circuit from 2023   Yas Marina Circuit, Abu Dhabi, UAE, 11 November, 2022:  Abu Dhabi Motorsports Management has today announced an official agreement with leading sportswear brand, Castore to become the official apparel partner to ADMM.      Starting from 2023, the British sportswear brand also becomes the leading retail and merchandise partner to Yas Marina Circuit, and has already built an established presence within global motorsports that includes ongoing apparel partnerships with McLaren and Oracle Red Bull Racing, and its new agreement in place with the iconic ......read more

SAFEEN Feeders Launches New UAE-Red Sea Service

Route Provides Fastest Access to Cities of Jeddah and Port Sudan, Positioning Abu Dhabi’s Khalifa Port as Key Regional Cargo Connection    Abu Dhabi, UAE, 10 November 2022: As part of its ongoing expansion of international routes, AD Ports Group’s SAFEEN Feeders has officially launched its UAE-Red Sea service to all customers, with the inclusion of Fujairah Terminals and Jeddah, following successful trials with allocated cargo on the route. The Red Sea service will provide direct connectivity between Abu Dhabi’s Khalifa Port and Port Sudan, home to Sudan's main seaport and the source of 90% of the country's international trade. It will travel via AD Ports Group’s Fujairah Terminals, on the eastern seaboard of the UAE and Jeddah Port on the west coast of the Kingdom of Saudi Arabia, offering ......read more

Sheikh Khalifa Excellence Award Launches its 21st Cycle

- During a press conference held at Abu Dhabi Chamber, in the presence of the higher committee of the Award   Abu Dhabi, UAE, 8 November 2022: The Office of the Sheikh Khalifa Excellence Award, an initiative by Abu Dhabi Chamber of Commerce and Industry, announced today the launch of the 21st cycle of the Award. Registration will be open from November 2022 to 30 June 2023, with the final submission due on September 2023.   This was announced during a press conference at Abu Dhabi Chamber’s headquarters, which was attended by His Excellency Saeed Abdul Jalil Al Fahim, Chairman of the Higher Committee of SKEA, and Committee Members: His Excellency Dr. Mohamed Salim Al Dhaheri, His Excellency Mohammed Omar Abdullah, and His Excellency Mohamed Helal Al Mheiri, Director General of the Abu Dhabi ......read more

Abu Dhabi Airports Inks Agreement to Accelerate the Future of Advanced Air Mobility

7 November 2022 – Abu Dhabi, United Arab Emirates: Abu Dhabi Airports has signed a memorandum of understanding with leading French engineering and operations firm Groupe ADP to explore the potential of Advanced Air Mobility (AAM) in Abu Dhabi, a new concept of air transportation which uses electric vertical take-off and landing (eVTOL) aircraft to move people and cargo.  The strategic partnership was signed at the Abu Dhabi Air Expo 2022 between His Excellency Eng. Jamal Salem Al Dhaheri, Managing Director and Chief Executive Officer of Abu Dhabi Airports and Philippe Martinet, Managing Director of Groupe ADP Airport Services, in the presence of His Excellency Nader Al Hammadi, member of the board at Abu Dhabi Airports.   Under the terms of the agreement, Abu Dhabi Airports and Groupe ADP will engage in the ......read more

Abu Dhabi Securities Exchange lists geospatial intelligence specialist Bayanat AI PLC

Abu Dhabi, 31 October 2022: Bayanat AI PLC, one of the region’s leading high-growth AI-powered geospatial solutions businesses, has today made its trading debut as the first company to list under the technology sector on the Abu Dhabi Securities Exchange (ADX) after its successful IPO. It is trading under the trading symbol BAYANAT. Abu Dhabi-based Bayanat’s IPO will support the company’s strategy of investing in cutting-edge R&D and exploring inorganic growth opportunities to reinforce its position as a leading player in geospatial artificial intelligence solutions, smart operations solutions and smart mobility solutions.  With roots stretching back to the creation of the UAE’s Military Survey Department in 1974, Bayanat was established in 2008 as a geographical information systems (GIS) specialist ......read more

LG Announces Third-Quarter 2022 Financial Results

Strong Demand for Premium LG Home Appliances and Auto Parts Drives Highest Quarterly Revenue in Company History October 28, 2022 – LG Electronics Inc. (LG) announced third-quarter 2022 consolidated revenues of KRW 21.2 trillion, an increase of 14.1 percent from the same quarter last year and the highest quarterly revenue in the history of LG Electronics. Operating profit for the third quarter was KRW 746.6 billion, 25.1 percent higher than the same quarter last year. For the third quarter, the company recorded growth of revenues driven by increased sales of premium home appliances including new appliance categories and automotive parts. However, considering one-off costs incurred last year, operating profit declined due to weak demand caused by the global economic slowdown. The LG Home Appliance & Air Solution ......read more

ADQ Offers To Combine Its Shareholdings In AMMROC, Etihad Engineering and GAL Into Abu Dhabi Aviation To Create A Global Aviation MRO and Services Champion

• Proposed combination of Etihad Engineering, AMMROC and GAL with Abu Dhabi Aviation to create a globally competitive Aviation Services and Maintenance, Repair & Overhaul (MRO) business primed for future growth  • Combined operator to capture greater synergies through integrated service offerings to aviation customers at scale with increased access to highly skilled labor, capabilities, and supply chain   Abu Dhabi, UAE – 17 October 2022: ADQ, an Abu Dhabi-based investment and holding company, has submitted an offer to Abu Dhabi Aviation PJSC (ADA) (ADX: ADAVIATION) to combine its full 100% shareholding of Etihad Engineering and AMMROC, as well as its 50% ownership of GAL, into ADA, with the goal of establishing a diversified aviation services and MRO business, with strategic market access and ......read more

Abu Dhabi Businesswomen Council Holds Its First Meeting In 2022

Abu Dhabi, UAE – 14 October 2022: The Abu Dhabi Businesswomen Council held its first meeting in 2022, which was led by the Chairwoman of the Council Her Excellency Asma Al Fahim. The meeting addressed the Council’s strategic objectives and creative initiatives for the upcoming period to enhance women’s contribution to the sustainable economic development in the Emirate of Abu Dhabi. The members of the Council discussed opportunities to enable women to reach new levels in the business and investment sector.  The meeting was attended by the members of the Abu Dhabi Business Women Council: H.E. Dr. Khadija Al Ameri, H.E. Noor Al Tamimi, H.E. Marwa Al Mansoori, and H.E. Shaikha Al Nowais. The meeting was held at ‘Architecture', one of the unique projects in Mamsha Al Saadiyat, launched by Emirati ......read more

IHC Acquires 15% Stake in Burjeel Holdings

Abu Dhabi, UAE; Sep 19 2022: International Holding Company (ADX: IHC), the diversified Abu Dhabi-based conglomerate, has announced today a direct acquisition of a 15% stake in Burjeel Holdings, the leading regional private healthcare group, in one of the biggest deals in the Gulf’s healthcare sector in recent years. The acquisition will aim to continue to scale and diversify IHC’s investment in the healthcare sector locally and regionally, which will create a thriving commercial ecosystem for the healthcare industry for the benefit of broader community and shareholders.  Commenting on the acquisition, Syed Basar Shueb, Chief Executive Officer, IHC said: "We continue to see a tremendous opportunity to invest in mission-driven organizations like Burjeel Holdings. We are very pleased with Burjeel's progress ......read more

The UAE Banks Federation Holds its Third CEOs Advisory Council meeting in 2022, with New Members Joining

Abu Dhabi, United Arab Emirates; 16 September 2022: The CEOs Advisory Council of the UAE Banks Federation, the representative and unified voice of the UAE banks, held its third meeting of 2022 remotely on the 7th of September to discuss developments in the global and local banking and financial sector for the past eight months. The virtual meeting also reviewed the implementation of recommendations made at the last meeting in June 2022. His Excellency Abdulaziz Al Ghurair, Chairman of the UAE Banks Federation, said, "Under the direct supervision of The Central Bank of the UAE, the UAE financial sector has proven that it is capable of successfully overcoming various challenges and changes in the global economy. The sector has always been able to strike a balance between providing the best services to customers and creating ......read more

ADQ Monetizes a Minority Stake in TAQA

• ADQ monetizes a minority stake in TAQA in line with its strategy of targeting a balanced and diversified portfolio • ADQ remains committed to maintaining a sizeable ownership stake in TAQA  • TAQA is a leading utilities firm in EMEA and a key player in driving the UAE's clean transition   Abu Dhabi, UAE. 13 September 2022: ADQ, an Abu Dhabi-based investment and holding company, today announced that it has entered into an agreement to monetize a stake of 8.6% in Abu Dhabi National Energy Company PJSC (“TAQA”) to Multiply Group PJSC, Abu Dhabi Pension Fund and other prominent investors.    TAQA is a diversified utilities and energy group headquartered in Abu Dhabi, the capital of the United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX: TAQA). TAQA ......read more

ADX and FTSE Russell Launch Benchmark Growth Market Index

FTSE ADX Growth Market Index will enable investors to track the performance of the Growth Market ABU DHABI, UAE - 1 September 2022:  The Abu Dhabi Securities Exchange (ADX) and FTSE Russell, under their index partnership, have co-developed a new benchmark, the FTSE ADX Growth Market Index (FADGMI) that will track the performance of the ADX’s recently rebranded Growth Market segment. FADGMI, the new index that went live today, includes the eligible constituents of the Growth Market, will provide investors with the ability to mimic the Growth Market performance that consists of a wide range of emerging and fast-growing companies starting their capital market journey. The launch of FADGMI is a result of ADX’s successful partnership with FTSE Russell and closely follows the launch in March of the FTSE ADX 15 Index ......read more

TAQA Group, Injazat to Advance Digital Transformation in the UAE

Abu Dhabi, UAE – 25 August 2022: Injazat, the UAE’s home-grown technology champion in digital transformation, cloud, and cyber security, today announced winning a digital transformation project for TAQA Group, the recognized low carbon power and water champion from Abu Dhabi that is a top-10 integrated utilities company in the EMEA region.  The contract was formalised during a signing ceremony with Ussama Dahabiyeh, the CEO of Injazat and Omar Al Hashmi, Executive Director of Transmission & Distribution, TAQA Group.  TAQA selected Injazat from a pool of competitive international bidders to lay the groundwork for TAQA to become a digital utility through modernized IT infrastructure. The program’s workstreams will address risks, deliver new capabilities, and up-skill staff on new technologies. Injazat ......read more

AD Ports Group Wins 17 International Business Awards

Recognised for ‘Achievements in Growth’, ‘Best Digital Process Automation Solution’, ‘Communication Department of the Year’ and ‘Marketing Campaign of the Year’, among other top Awards   Abu Dhabi, UAE – 24 August 2022:  AD Ports Group, the leading facilitator of global trade, logistics, and industry, has won 17 awards at The Stevie International Business Awards 2022, the global awards recognising excellence and accomplishments within the workplace. The 19th edition of the awards attracted more than 3,800 nominations from a wide range of organisations. AD Ports Group received seven Gold Awards, six Silver Awards, and four Bronze Awards – the largest haul in its history and recognition of the remarkable progress the Group has made in recent years, which has seen it ......read more

Emirates Stallions Group Pushes into Indoor Spaces Design and Product Manufacturing Markets with Two Strategic Acquisitions

Abu Dhabi, UAE - 23, August 2022: Emirates Stallions Group (PJSC), UAE’s leading investment, engineering, and construction services business and subsidiary of International Holding Company (IHC), has acquired a substantial amount of shares in two of the UAE indoor spaces design leading companies to expand its business further into indoor spaces design and product manufacturing.   ESG has acquired a 60% stake in Vision Factory, one the biggest furniture and joinery production facility in the UAE. The company has also taken a 45% stake in Decovision, the world-class quality interior design and engineering services provider.  Matar Suhail Ali Al Yabhouni Aldhaheri, Chairman of Emirates Stallions Group, said: “These acquisitions come as part of our effort to continue expanding ESG revenues beyond engineering ......read more

Abu Dhabi Chamber Showcases the Incentives of NAFIS Program

 The session aimed at enhancing the contribution of the national human resources to the private sector    Abu Dhabi, UAE - 22 August 2022: The Abu Dhabi Chamber of Commerce and Industry (ADCCI), in cooperation with the Abu Dhabi Department of Economic Development (ADDED), the Emirati Talent Competitiveness Council (NAFIS), and the Ministry of Human Resources and Emiratisation (MOHRE) organised a second session for raising awareness about the incentives of the Emirati competitiveness program NAFIS. The session also highlighted the Cabinet’s decision for increasing Emiratisation in the private sector and the importance of the Emiratis’ contribution to the UAE’s growth. The session, which was held at the Chamber's headquarters in Abu Dhabi, was attended by His Excellency Rashid Abdulkarim Al ......read more

One of the Region's Largest Food & Healthcare Storage Hubs to be Launched in Abu Dhabi

AD Ports Group’s Advanced Logistics Hub at KIZAD to bring 80,000m2 of Storage Capacity   Abu Dhabi, UAE – 18 August 2022:  AD Ports Group, the leading facilitator of global trade, logistics, and industry, has announced that KLP21, its new advanced warehousing and logistics hub in Abu Dhabi, will be available within Q3, 2022.  KLP21 is situated in KIZAD, the Group’s integrated trade, logistics and industrial zone located between Abu Dhabi and Dubai. It leverages UAE’s strategic position as a gateway to Asia, Africa and the MENA region representing a combined marketplace of over 4.5 billion consumers. KLP21 is strategically located next to the upcoming Regional Food Hub along the main E311 cargo corridor, ensuring direct connectivity to all major markets.  Comprising four warehouses with ......read more

Lenovo Group: First Quarter Results 2022/23

Lenovo delivers ninth straight quarter of improved revenue and profitability and the largest market share in the Gulf at 27.6%    Dubai, August 18, 2022– Lenovo Group (HKSE: 992) (ADR: LNVGY) today announced strong first quarter results for the Group, improving both revenue and profitability for the ninth consecutive quarter. First quarter net income grew 11% year-on-year to US$516 million and 35% year-on-year to $556 million on a non-HKFRS [1] basis. Revenue grew to US$17 billion, up 5% year-on-year in constant currency.    The Group saw revenue from non-PC businesses reach 37%, demonstrating its services-led transformation strategy and persistent investments in diversifying the business have paid off and are driving future growth opportunities. These new growth engines of solutions and services, ......read more

AD Ports Group Q2 2022 Net Profit Surged 59% YoY

Revenue grew by 35% YoY to AED 1,242 million driven by the Maritime and EC&FZ clusters EBITDA increased by 41% YoY to AED 532 million Net Profit surged 59% YoY to AED 300 million Capex reached AED 1.6 billion, in line with the Group’s capital investment plans to spend more than AED 15 billion across all clusters over the 2022-26 period Net leverage stood at 0.9x, leaving ample room for further organic and inorganic growth; USD 1 billion RCF remains unutilised Container volumes grew by 30% YoY while Ro-Ro and cruise passenger volumes continued their healthy recovery post COVID-19 disruptions Record 3.9 km2 of new land leases signed during H1 2022 - more than the annual land leases signed in each of 2021 and 2020 FTSE Emerging Markets Index inclusion in June 2022 Abu Dhabi, UAE - 13 August, 2022:  ......read more

IHC Sails Into Turkish Market and Acquires 50% of Renewable Energy Company “Kalyon Enerji” in AED 1.8 billion Transaction

• The deal comes as part of IHC’s long-term investment strategy in the clean energy sector.  • Kalyon Karapınar Solar Power Plant established on approximately 20 million square meters of land in Konya’s Karapınar district. • This strategic partnership includes some other renewable projects in Turkey.    Abu Dhabi, UAE - Aug 11 2022: International Holding Company PJSC (ADX: IHC), the diversified Abu Dhabi-based conglomerate, has announced today the acquisition of a 50% stake in Turkish clean energy market leader "Kalyon Enerji" for AED 1.8 billion through its subsidiary International Energy Holding.    Kalyon Enerji is owned by the giant Turkish group Kalyon Holding, which operates in the Construction, Energy and Aviation industries. In this ......read more

IHC Smash Previous Record Reporting Over AED 10.3 Billion in Net Profits in H1 2022

Strong result driven primarily by subsidiary's solid performance and profitable business acquisitions in first half 2022.   H1 total revenue touched AED 21.93 billion, an increase of 121% as compared to June 2021. IHC to increase its global investments in 2nd half of 2022 through mega deals and acquisitions.      Abu Dhabi, UAE; 08 August 2022:  International Holding Company PJSC (ADX: IHC), a diversified Abu Dhabi-based conglomerate, has posted new record Profits in the first half of 2022, as the company continues its aggressive investment strategy through a focused, high-conviction approach, targeting local and international business acquisitions with sustainable earnings and cash flow growth.   The solid business performance across all IHC subsidiaries has resulted in a ......read more

Servomex Establishes New Middle East Hub at ADAFZ

• Servomex, a global expert in gas analysis announced its regional operations base at ADAFZ  • Servomex will provide the UAE and wider region with specialised gas sector products      Abu Dhabi, UAE – 03, August 2022:  Abu Dhabi Airports Free Zone (ADAFZ), a wholly owned subsidiary of Abu Dhabi Airports, announced that Servomex, the global expert in gas analysis, officially launched its operations at the airport freezone. As a leading provider of reliable, accurate and stable gas measurement solutions to industries worldwide, Servomex will provide essential gas-related services to the local market whilst serving clients and customers across critical industries from its new Middle East Office at ADAFZ.    Servomex designs, manufactures, and distributes a wide range of ......read more

ADX Market Data Goes Live on TradingView Platform

 30+ million TradingView global users to get access to ADX data   ABU DHABI, Aug 03, 2022:  The Abu Dhabi Securities Exchange (ADX) has signed a new data-sharing partnership with TradingView, a leading financial information portal based in the US, to help attract a new generation of global traders and investors to the exchange.    As part of the agreement, ADX market data is now live on TradingView’s platform and accessible by a large base of local, regional and international investors who are also TradingView users.   TradingView delivers financial intelligence and state-of-the-art tools for traders to make informed decisions and profitable trading decisions. It has a growing base of social traders, with around 30 million users and over one million paid subscribers around the ......read more

AD Ports Group and Hutchison Ports Ink MoU to form Strategic Partnership

282 cars delivered in the Middle East Collaboration to focus on enhancing operations of both organisations across the maritime and logistics sectors     Abu Dhabi, UAE – August 2, 2022: AD Ports Group, the leading facilitator of trade, logistics, and industry in Abu Dhabi, today announced that it has signed a Memorandum of Understanding (MoU) with Hutchison Ports, the world’s leading port investor, developer and operator. As per the MoU, AD Ports and Hutchison Ports will identify joint investment and business opportunities related to feedering, logistics, and port activities across the GCC, Africa, and Asia.  Additionally, the two organisations will form a partnership to operate within Tanzania, where they will work closely together to explore opportunities to further enhance the capabilities and ......read more

Ghitha Reports AED 80 Million in Profit for Q2-2022 as Sales Hit New High

• Ghitha profits have grown by 471% compared with Dh14.1m in the same period last year. • The company continued to strengthen and grow its market position through acquisitions and organic growth.  • Revenue for Q2 at a record peak of AED 576 million.    Abu Dhabi, UAE; 2 August 2022: Ghitha Holding PJSC, the leading regional foodstuff trading and distribution company, and subsidiary of International Holding Company (IHC), has announced its second quarter results for 2022 with profit of AED 80.65 million, surging by more than 471% for the same period last year.   Ghitha reported record-breaking numbers, led by its revenue reaching AED 576 million, which shows immense growth of 276%, soaring up from AED 153 million in Q1-2021. It has overseen a solid push to expand the company’s ......read more

UAE Minister of Industry and Advanced Technology Visits Tawazun Industrial Park and EDGE Group and Praises Nation's “High-Level Competencies” in Priority Industries

Abu Dhabi, August 2, 2022: His Excellency Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, has led a joint delegation by the Ministry of Industry and Advanced Technology (MoIAT) and the Ministry of Defence (MOD) to the Tawazun Industrial Park and the Tawazun Economic Council (Tawazun), the integrated national centre for defense, security, and aviation industries. His Excellency also met with senior leadership of the Edge Group, one of the world’s leading advanced technology conglomerates. The visit came as part of a series of tours conducted by His Excellency to review the performance of industrial facilities in the UAE and discuss ways to further attract global investors and industrialists to the country. This is in line with the Ministry’s Make it in the Emirates initiative, which seeks to ......read more

Alpha Dhabi Reports Record Financial Performance with Half-Year Net Profit of AED 7.9 Billion as it Completes its First Year as a Listed Company

Abu Dhabi, UAE; 29 July 2022:  Alpha Dhabi Holding PJSC (“Alpha Dhabi” or “the Group”), one of the fastest-growing investment holding companies in the UAE, listed on the Abu Dhabi Securities Exchange (ADX: AlphaDhabi), has announced its financial results for the half-year ended 30 June 2022. The Group reported yet another record-breaking set of financials results with H1 2022 net profit of AED 7.9 billion, up significantly from the corresponding period last year of AED 1.7 billion. Revenues for the Group saw positive contributions and cross sector growth across its verticals year-on-year. On a half yearly basis, the Group continues to show the strength of its business model, operating structure and ability to execute on its growth strategy with revenues of AED 17.1 billion, up considerably year-on-year ......read more

New Adhesive Set to Revolutionize the Shipbuilding Industry

Abu Dhabi-UAE: 28 July 2022 – A team of researchers has analyzed the potential of using methyl methacrylate (MMA) to bond together the structural elements of a boat, as part of the INTERREG 2Seas Mers Zeeën research program. Traditionally, ship components are connected with mechanical fasteners, which add weight and limit the ability to take advantage of new design approaches that use composite materials. While researchers have explored the possibility of using epoxies to bond together different parts of a boat, the material was deemed too brittle as it can crack over time.  MMA does not provide the same strength as epoxy, however, it absorbs more energy, and the research indicated that MMA could prove suitable for replacing mechanical fasteners, resulting in lighter and more efficient designs.  “MMA is very ......read more

Multiply Group - Financial Results for H1 2022

Financial results for H1 2022 ABU DHABI, 28 July 2022 – Multiply Group (ADX: Multiply or the “Group”), a technology-focused holding company listed on the Abu Dhabi Securities Exchange (ADX), has reported AED 462 million in net profit for the first half of 2022. The Group's H1 2022 figures show revenue of AED 507 million and gross margin of AED 250 million. Net profit equates to a healthy 91% of revenue for the period with investment and other income of AED 300 million helping to drive profitability. There was also strong performance across the Group's subsidiaries, which cover five vertical segments: media and communications, utilities, ventures, wellness and beauty, and digital economy. All the Group operating units were profitable in H1 and exceeded operational targets.  The Group continues to ......read more

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Region's first uncrewed surface vessel sets sail in Abu Dhabi.…

Abu Dhabi, UAE, 28 October 2022: Marks an important day for UAE maritime as the region’s first class-built Uncrewed Surface Vessel (USV) entered the water. The 12 m Blue Essence USV was launched at Mugharraq port and sailed to its new home in Al Mirfa, Abu Dhabi, by Fugro’s control and command centre in the UAE. The Al Mirfa port will be the home to the Fugro Pegasus during the ......read more

‘Masaood Village Facilities Management' drives highest standards for food safety and quality ...…

Abu Dhabi, October 26, 2022: ‘Masaood Village Facilities Management’, a division of Al Masaood Group that provides cost effective accommodation and catering solutions, has been recertified for ISO 22000:2018 and rewarded ISO 9001:2015 certification, highlighting its commitment to maintaining the highest performance standards in its operations, including food safety and service ......read more

AASTS Collaborates with Abu Dhabi's Zakher Marine Fleet…

Zakher Marine International will train AASTS students on-board its fleet; supporting the Academy’s efforts to provide top-notch practical training to aspiring maritime professionals     Sharjah, UAE, 25 July 2022: Students from the Maritime Transport technology department, of the Arab Academy for Science, Technology and Maritime Transport Sharjah Branch (AASTS), will be ......read more

UAE's First Q-Commerce Marketplace Veppy.com Invites Sellers to Register Products before Launch in ...…

Veppy.com gives the UAE’s small and medium enterprises a great business opportunity to expand by registering and listing their products on the fastest-growing online shopping marketplace that goes live in August this year   Date: Dubai, UAE, July 19, 2022   News Highlights:   1. The Q-Commerce market in the Middle East and North Africa (MENA) region is ......read more

AD Ports Group Secures Coveted Global Certification for End-to-End Supply Chain Management of ...…

The Certification Furthers AD Ports Logistics’ Position as a Global Provider of Specialised Healthcare Business Services     Abu Dhabi, UAE – July 19, 2022: AD Ports Logistics (ADPL), a subsidiary of AD Ports Group’s Logistics Cluster, has secured the coveted International ISO Certification for its integrated end-to-end supply chain management services covering ......read more

EasyLease Pushes into Lifestyle and Leisure Mobility and Acquire a Majority Stake in UAE-based The ...…

Abu Dhabi, UAE; 19 July 2022: EasyLease (PJSC), the UAE’s mobility solution leader, and a subsidiary of Abu Dhabi-based International Holding Company (IHC), has acquired 55% of The Captain’s Club, the UAE’s biggest boat club, valuing the total company at AED 70 million. Founded in 2014, The Captain’s Club is a membership-based mobility platform, connecting its members ......read more

LG Releases Preliminary Earnings for Second-Quarter 2022…

July 15, 2022 — LG Electronics Inc. (LG) announced its preliminary earnings results for the second quarter of 2022. LG reported revenues of KRW 19.5 trillion in the second quarter of 2022, 15 percent higher than the same quarter the previous year. Operating profit for the second quarter was KRW 791.7 billion, expected to be 12 percent lower than the same quarter of the previous ......read more

ADFD and ADEX Sign Two Loan Agreements worth AED337.9 to Finance Water Supply Network Project in ...…

Abu Dhabi, 14 July 2022 – Abu Dhabi Fund for Development (ADFD) and the Abu Dhabi Exports Office (ADEX) signed two loan agreements with the Electricity and Water Authority in Bahrain to finance a water supply network project.  Under the agreements, ADFD has committed to provide a loan of AED150.6 million, and ADEX to provide a loan of AED187.32 million.  The project aims to ......read more

Applications Open for startAD's Fintech Corporate Sprint Accelerator 9…

● Participants will have the opportunity to win a prestigious Ripple grant worth USD 25,000 through a fast-tracked application process ● All participants will be sponsored to showcase and pitch their startup at the region’s largest startup and tech event, GITEX 2022 ● Deadline to apply is August 28, 2022   Abu Dhabi, UAE – July 14, 2022: startAD, the ......read more

Abu Dhabi Securities Exchange (ADX) and Bahrain Bourse (BHB) Launch Tabadul Exchange Hub…

Abu Dhabi - 7 July 2022:   Abu Dhabi Securities Exchange (ADX) and Bahrain Bourse (BHB) announced the launch of the region’s first digital exchange hub – Tabadul. The exchanges commemorated this landmark achievement towards the launch of Tabadul with an official bell ringing ceremony live streamed from BHB and the ADX headquarters. HE Hisham Malak, Chairman of Abu Dhabi ......read more

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