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KEZAD Assets Management Company set to manage 750,000 sqm of built-up assets under KEZAD Group

Company to Acquire, Manage and Operate existing and new KEZAD Group Built-up Assets Abu Dhabi, UAE – 21 February 2024:  KEZAD Group, a subsidiary of AD Ports Group under the Economic Cities & Free Zones, and the largest operator of integrated and purpose-built economic zones in the UAE, is set to transfer the management of approximately 750,000 square metres of its built up assets to KEZAD Assets Management Company (KAMC), making it a key player in the industrial and logistics assets sector through strategic acquisitions, management, and operations.   KAMC was announced in October 2022 by KEZAD Group to focus on managing KEZAD Group's existing built-up assets. KEZAD Group currently has approximately 500,000 sqm of built-up assets and another 250,000 sqm is scheduled to be delivered by ......read more

ARABICA OPENS AT ZAYED INTERNATIONAL AIRPORT IN ABU DHABI

Seamlessly Blending Coffee, Design Innovation, and Abu Dhabi's Cultural Legacy [Abu Dhabi, February 2023] — % Arabica, the globally renowned Japanese specialty coffee leader, proudly unveils its inaugural airport store within the duty-free zone of Zayed International Airport in Abu Dhabi. This extraordinary addition marks the 8th store in the capital and the 21st in the UAE, symbolizing % Arabica's unwavering commitment to delivering exceptional coffee experiences to global travelers. In harmony with % Arabica's #Seetheworldthroughcoffee mission, the brand motto draws inspiration from Japan's "Kenbun" concept, encapsulating the essence of travel. It reflects % Arabica's dedication to establishing stores in iconic global destinations, enabling customers to immerse themselves in the vibrant ......read more

e& reports record consolidated net profit of AED 10.3 billion growing 3% year-over-year

Consolidated revenues reached AED 53.8 billion, a growth of 8.3 per cent year-over-year, at constant exchange rates Board proposes a total dividend of AED 0.80 per share for FY 2023 Recommends a new progressive dividend policy to bring the DPS to 89 fils by FY2026   Abu Dhabi, 21 February 2024 – e& announced its consolidated financial results for fiscal year 2023 reporting a record consolidated net profit of AED 10.3 billion, a growth of 3 per cent year-over-year. Underlining the Group’s commitment to value creation for its shareholders, e&’s Board of Directors proposes a dividend of AED 0.40 per share for the second half of 2023 representing a total dividend of AED 0.80 per share for FY2023. In addition, the board recommended a new progressive dividend policy with an increment of 3 ......read more

KEZAD Group Signs Lease Agreement with APT for Automotive Aluminium Component Manufacturing Plant

Al Ghurair Group Subsidiary to Tap Global EV Parts Market from 30,000 sq metres Facility Abu Dhabi, UAE – 19 February 2024: Khalifa Economic Zones Abu Dhabi – KEZAD Group, the largest operator of integrated and purpose-built economic zones, and Al Ghurair Group subsidiary Automotive Precision Technology (APT) today announced the signing of a lease agreement for an automotive aluminium component manufacturing facility.   The 30,000 sq metres advanced manufacturing facility for APT in KEZAD will be strategically located adjacent to Emirates Global Aluminium, one of the largest manufacturers of aluminium in the world and will be operational by early 2025.   The signing was witnessed by His Excellency Omar Al Suwaidi, the Undersecretary, Ministry of Industry and Advanced Technology, UAE and senior ......read more

Young UAE-based Climate Tech Angel Investors Favor African and MENA Regions For Growth Potential Over More Established Markets

UAE-based investors are using the MENA region as a base to provide sustainability solutions across the India China Africa corridor, according to the annual Angel Rising Investor Trends Report from startAD and VentureSouq The average age of participants is younger than their global counterparts and features a higher female ratio   Abu Dhabi, UAE, February 16, 2024: Angel investors based in the UAE with a focus on climate tech are more likely to favor Africa and the Middle East and North Africa (MENA) over the more established US, Asian, and European markets, according to the Investor Trends Report 2023. The report was produced by startAD, the Abu Dhabi-based startup accelerator powered by Tamkeen and anchored at NYU Abu Dhabi (NYUAD), and MENA-based venture capital firm VentureSouq.   According to the report's ......read more

AD Ports Group Reports Strong Operational and Financial Performance in 2023 with Revenue More than Doubling to AED 11.7 billion YOY

Record Full-Year 2023 Revenue Increasing 112% YoY EBITDA Rising 23% YoY to AED 2.7 billion and Net Profit 6% YoY to AED 1.4 billion     Abu Dhabi, UAE – 14 February 2024: AD Ports Group (ADX: ADPORTS), a leading global facilitator of logistics, industry and trade, today announced its preliminary financial results for the 12 months ending 31st December 2023, reporting strong operational and financial performance, with revenue more than doubling year-on-year (YoY) to AED 11.68 billion, +58% YoY to AED 8.71 billion on a like-for-like (LFL) basis after adjusting for the effect of mergers and acquisitions (M&A). In the last quarter of 2023, the Group’s revenue soared by 105% YoY to AED 3.57 billion (+41% to AED 2.45 billion on a LFL basis). Key Highlights   Revenue soared 112% ......read more

Titan Lithium to Set Up AED 5 Billion Lithium Processing Plant in KEZAD

The 290,000 sqm plant will process battery-grade Lithium for EV vehicles in Abu Dhabi Abu Dhabi, UAE – 13 February 2024: Khalifa Economic Zones Abu Dhabi – KEZAD Group, the largest operator of integrated and purpose-built economic zones, and UAE-based Titan Lithium have announced the signing of a 50-year land lease agreement for the establishment of a state-of-the-art lithium processing plant in Khalifa Industrial Area (KEZAD Al Ma'mourah).   To be developed in three stages with AED 5 billion in investment by Titan Lithium, the plant will produce battery-grade lithium carbonate and lithium hydroxide for battery makers and electric vehicle OEMs around the world. Spanning over 290,000 square metres, the plant represents a critical turning point in the UAE's development as a key force in the worldwide ......read more

IHC Announces Stellar Preliminary Financial Results for 2023: Record Revenue and EPS Growth

EPS of AED 12.36, indicating robust financial health and investor confidence. Preliminary Net profit remains strong at AED 32,748 million.  Revenue Soars to AED 60,089 million with strategic acquisitions and performance driving a preliminary 18% YoY increase. Abu Dhabi, 5th February 2024: ABU DHABI, UAE – International Holding Company (IHC), a leading investment conglomerate based in Abu Dhabi, has announced its Unaudited Preliminary Financial Results for the year ended December 31, 2023, showcasing a remarkable year of financial growth and strategic achievements. The Group's Preliminary Revenue soared to AED 60,089 million, marking an 18% increase from the previous year's AED 50,946 million. This significant revenue growth is attributed to the company's strategic acquisitions and the enhanced ......read more

Abu Dhabi Chamber Launches Advocacy Hub to Support the Business Ecosystem in Abu Dhabi

2, February 2024, Abu Dhabi, UAE: The Abu Dhabi Chamber of Commerce and Industry (ADCCI) announced the launch of the Advocacy Hub initiative, which involves all segments of the private sector, enhancing its engagement and bringing positive change in the business system. The Advocacy Hub aims to support and empower the private sector. It represents an ideal opportunity to facilitate communication between businesses and government agencies. The initiative will boost the private sector’s voice, promote constructive dialogue through the exploration of noteworthy developments from the business community, proposing innovative solutions to address challenges, and the provision of a platform for proposing ideas and recommendations on policies and legislation. This in turn will contribute to advancing the private sector towards new ......read more

KEZAD Group Announces AED 621m Investment for New Warehousing Capacity

250k sqm of Additional Capacity Being Developed on Continued Strong Demand for Industrial and Logistics Facilities in Abu Dhabi   Abu Dhabi, UAE – 30 January 2024: Khalifa Economic Zones Abu Dhabi – KEZAD Group, the largest operator of integrated and purpose-built economic zones, today announced that it has commenced the development of warehousing capacity of more than 250,000 square metres, with an investment of AED 621 million to bring additional capacity of pre-built industrial and logistics facilities online by the end of 2025. This will boost KEZAD's total warehousing capacity by 43%.   KEZAD Group has commenced construction of the new phases in light of strong demand for warehousing and other prebuilt facilities across the emirate of Abu Dhabi, in both free zone and domestic industrial areas. ......read more

EDGE Expands its End-to-end Defence Capabilities with the Addition of International Golden Group

• International Golden Group will expand the scope of EDGE’s capabilities as a supplier of defence and service solutions to provide more complete end-to-end offerings to customers   Abu Dhabi, UAE: 23 January, 2024 – EDGE Group PJSC (EDGE), one of the world’s leading advanced technology and defence groups, today announced the addition of International Golden Group (IGG) to the EDGE portfolio of companies. Abu Dhabi-based IGG is the UAE’s leading agent for high-end defence supplies and security solutions. The move will allow EDGE to expand its business and to provide a more complete end-to-end offering to its end-users.   Recognised as a leading supplier to the UAE Armed Forces, Ministry of Interior, and other defence and security authorities, IGG builds alliances and partnerships in the ......read more

Century Financial's ‘Financial Freedom for All' Campaign Achieves Monumental Success, Aligning with UAE's Vision for Financial Literacy

Date: Dubai, UAE; January 23, 2024    The Financial Freedom for All – a campaign launched by Century Financial in collaboration with the United Nations Principles for Responsible Management Education (PRME) Middle East and the Anti-Poverty Working Group, has garnered the backing of leading corporates, pledging to enroll 10,000 blue-collar workers within the very first month of its launch.    This significant milestone underscores the campaign's broad appeal and its profound impact. Furthermore, the initiative has successfully galvanised the support of over 50 prominent corporates and more than 30 esteemed educational institutions, solidifying its crucial role in cultivating a future rich in financial literacy.   This initiative marks a transformative journey towards instilling comprehensive ......read more

Abu Dhabi Securities Exchange (ADX) Welcomes Secondary Dollar and Dirham Bond Listings by Mubadala

Abu Dhabi, UAE, 9 January 2024: Mubadala Investment Company, the Abu Dhabi sovereign investor, through its issuing entity Mamoura Diversified Global Holding (MDGH) announced the successful secondary listing of its dollar- and dirham-denominated bonds totaling US$4.5 billion and AED 750 million respectively, with a bell ringing ceremony at the Abu Dhabi Securities Exchange (ADX), one of the fastest growing exchanges in the world.  The listings on ADX included Mubadala’s highly oversubscribed debut Green Bond and Mubadala’s inaugural dirham-denominated bond, the first such dirham bond by a corporate in the United Arab Emirates. The listing of Mubadala’s green bond marks the seventh listing of a green debt instrument on ADX.  With interest from both local and international investors, the listing of ......read more

KEZAD Group Welcomes AED 20 million Excel Astra Fabrication Facility in KEZAD

The Facility will Contribute to Abu Dhabi’s Non-Oil Exports, Create 400 Jobs Abu Dhabi, UAE – 29 December 2023: Khalifa Economic Zones Abu Dhabi – KEZAD Group, the largest operator of integrated and purpose-built economic zones, and UAE-based Excel ASTRA Engineering & Construction, a leading construction contractor providing integrated solutions for Energy sector projects, have signed a 50-year lease agreement to set up a fabrication facility in KEZAD. Excel Astra to invest approximately AED 20 million to build the facility on approximately 45,000 square metres of land in KEZAD Al Ma’mourah. The facility will leverage on the collective expertise of KEZAD and ASTRA to accelerate growth in the industry sector while creating jobs and providing products and services to the country’s energy ......read more

UAE and Congo-Brazzaville Finalize Terms of a Comprehensive Economic Partnership Agreement

- UAE and Congo-Brazzaville non-oil trade increased 5% in 2022 to reach US$2.2 billion and has doubled in H1 2023 over H1 2022. - HE Al Zeyoudi: “We look forward to ushering in this new era of cooperation and to further expanding our presence in Africa as a trusted partner and investor.” - HE Jean-Baptiste: “The strategic partnership agreement with the United Arab Emirates that we have just concluded today will greatly contribute to the financing of structuring projects in Congo.”   Abu Dhabi, UAE, 28th December 2023: The United Arab Emirates and the Republic of Congo-Brazzaville have concluded the terms of a Comprehensive Economic Partnership Agreement (CEPA), a deal that will facilitate greater trade and investment flows as the two nations pursue deeper economic ties. The conclusion of ......read more

Abu Dhabi Chamber of Commerce and Industry launches Abu Dhabi International Arbitration Centre

20 December 2023 - Abu Dhabi, United Arab Emirates: Abu Dhabi Chamber of Commerce and Industry has launched the Abu Dhabi International Arbitration Centre (arbitrateAD), an international arbitration centre based in Abu Dhabi. From 1 February 2024, the governance structure and arbitration rules of arbitrateAD will replace those of the Abu Dhabi Commercial Conciliation and Arbitration Centre (ADCCAC). arbitrateAD supports efforts to establish Abu Dhabi as a regional and global hub for efficient and expeditious dispute resolution, upholding the principles of impartiality, independence, transparency and efficiency. arbitrateAD’s dispute resolution services supports Abu Dhabi’s growth as an ideal environment for businesses to thrive and cross-border relations to flourish. His Excellency Abdulla Mohamed Al Mazrui, Chairman of ......read more

First Stand-alone France Visa Application Centre Launched in Abu Dhabi for UAE Residents

The newly opened Centre operated by VFS Global, was inaugurated on 18 December 2023 by Ms. Soumya ZELMAT, Consul of France in Abu Dhabi. France visa applicants can now visit this Centre located at The Mall - World Trade Centre, Khalifa Bin Zayed the 1st Street, which offers enhanced comfort and convenience.  All visa applications for France in the United Arab Emirates will be handled at this spacious Center operated by VFS Global in Abu Dhabi and will also serve the 7 Emirates through the "Visa At Your Doorstep" service. This optional service (with additional fees) enables applicants to apply directly from their home or workplace without travelling to the VFS Global France Visa Application Centre. Applicants will therefore have the choice of submitting their application directly at the VFS Global France Visa Application ......read more

Savoye Acquires a Major Contract in KSA to Support CJ Logistics and iHerb with World-class Automation Solutions

Savoye was selected as the automation and technology partner to fully automate the e-commerce Global Distribution Center of iHerb in KSA, first of its kind in the region November 21, 2023:  Savoye, a leading global warehouse automation integrator and software publisher in the Middle East, partnered with CJ Logistics, a 3PL services company operating for iHerb, the leading global eCommerce retailer for health and wellness, in Riyadh, Kingdom of Saudi Arabia (KSA), to deliver world-class automation solutions for its e-commerce Global Distribution Center (GDC). The strategic partnership is a significant development for Savoye in KSA, following its recent expansion into the region.  Under the terms of the partnership, Savoye will implement a fully automated fulfilment center, the first-of-its-kind in the region, which ......read more

Tabreed Announces its 9M 2023 Results, with a 10% Rise in Revenue to AED 1.8 Billion

• On track to add 120,000 RT capacity over FY 2023-24, supported by new projects and new connections across existing concessions • Tabreed reports 9% year-on-year growth in consumption volumes • Tabreed maintains ‘Investment Grade’ credit rating from Moody’s & Fitch, demonstrating prudent cash flow management and solid financial position   Abu Dhabi, United Arab Emirates – 15 November 2023: Tabreed, the world’s leading district cooling company reported its financial results for the nine-month period ending 30 September 2023. During the first nine months of the year, Tabreed sustained positive momentum, recording a robust top line of AED 1.8 billion, a 10% increase year-on-year, compared to AED 1.7 billion in the same period last year. Attributed to this success is the ......read more

ADGM and MBZUAI Forge Strategic Collaboration to advance Artificial Intelligence for Regulatory Compliance

• ADGM and MBZUAI signed an MoU to develop AI-based technological tools designed to assist in regulatory compliance tasks within the financial services sector. • The tools will leverage AI to generate insights and information from financial regulations and rules, that can be fed into regulatory decisions and processes. • The tools will be publicly shared, providing the industry with resources to automate and optimize compliance processes.   Abu Dhabi, UAE, 16 November 2023: The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) and Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) have signed a Memorandum of Understanding (MoU), focused on advancing the role of artificial intelligence (AI) to better achieve regulatory outcomes within the financial services ......read more

Al Ain Allied Investment Unveils Comprehensive E-Commerce Solutions

Al Ain Allied specialises in end-to-end e-commerce support, from creating seller and ads accounts to implementing strategic digital marketing activities Dubai, United Arab Emirates, November 2023: Al Ain Allied Investment, a pioneer in the digital marketing and online seller accounts consulting space, proudly announces its commitment to revolutionise e-commerce businesses through tailored strategies and proven results. Established in 2017, Al Ain Allied specialises in end-to-end e-commerce support, from creating seller and ads accounts to implementing strategic digital marketing activities. The company is dedicated to driving results through effective and measurable solutions, collaborating closely with clients to enhance brand awareness, increase sales opportunities, and maximise marketing budget ROI. Dr Ziad Amir Saleh, ......read more

Polygood® and Danube Group Join Forces for Middle East Expansion in the Year of Sustainability

DUBAI, November 2, 2023:  The Good Plastic Company, the largest producer in sustainable materials, is proud to announce the exclusive distribution of its revolutionary surface material, Polygood®, into the Middle East with the successful conglomerate Danube Group.  Danube Group, a Dubai-based diversified business conglomerate, with its inception in 1993 has established itself as a major player in various sectors including building materials, home décor, hospitality, sanitary solutions, and real estate development to name a few. With a significant presence in the Middle East and worldwide, the partnership with The Good Plastic Company marks another step towards the promotion of sustainable solutions in the region. Danube Group has grown into one of the largest building materials companies in the Middle East, with ......read more

Sanad Unveils SAMENA Region's First Certified CFM LEAP Engine MRO Center in Abu Dhabi

• Landmark 11-year shop visit offload agreement broadens Sanad Maintenance, Repair, and Overhaul (MRO) capabilities for LEAP-1A and LEAP-1B engines, a collaboration with GE Aerospace and Safran Aircraft Engines • Sanad invests over AED100 million into its Abu Dhabi facility, enhancing its state-of-the-art engine MRO capabilities • Sanad's state-of-the-art MRO Center spans 5,000 sqm, expanding Sanad's footprint to a total of 30,000 sqm in its Abu Dhabi Campus • Inauguration of the first LEAP Engine MRO Centre in the SAMENA region to support over 450 engines over an 11-year period    Abu Dhabi, UAE - November 08, 2023: Sanad, the global aerospace engineering and leasing solutions leader wholly owned by Abu Dhabi’s sovereign investor Mubadala Investment Company PJSC (Mubadala), ......read more

Presight Announces Strong Performance as it Crosses AED 1 billion in Revenue for first three Quarters of FY2023

• Q3 FY23 revenue up 11.8% to AED 553.1M compared to AED 494.9M in Q3 FY22 • Q3 FY23 net profit increased 17.5% compared to Q3 FY22, reaching AED 130.5M  • Revenue for the first three quarters of FY23 passed AED 1 billion   Abu Dhabi, UAE 7th November 2023 – Presight AI Holding PLC (“Presight” or the “Company”), (ADX: PRESIGHT) today announced strong financial performance for Q3 FY2023 and year-to-date Q3 FY2023, continuing the company’s robust growth trajectory and potential as highlighted at the time of it’s listing on Abu Dhabi Securities Exchange (ADX) in March this year.   Presight’s Q3 FY2023 net profit was AED 130.5 million, an increase of 17.5% (AED19.4 million) compared to Q3 2022 net profit of AED 111.1 million. Revenue for Q3 FY23 ......read more

IHC Sustains Positive Momentum Throughout Q3 2023 and Delivers Robust Topline Growth

— Revenue growth of 24.8% in YTD-2023 as compared to YTD-2022, driven by positive performance in key segments including real estate and construction, marine and dredging, and services. — Growth in Total Assets to AED 235.6 billion, a 3.3% increase as compared to December 2022.   Abu Dhabi, 08 November 2023: International Holding Company (ADX: IHC), the global diversified Abu Dhabi-based conglomerate, today announced its financial results for the third quarter of 2023. IHC recorded a quarterly group Revenue of AED 14.2 billion representing a 9.5% increase over Q2 2023. During the 9 months period ending September 2023, the Group reported a Profit After Tax of AED 15.2 billion (vs AED 24.3 billion in YTD-2022).  Syed Basar Shueb, IHC’s Chief Executive Officer, said: “IHC produced a strong set of ......read more

Agthia Group Reports AED 3.27 Billion Net Revenue During The First Nine Months 2023

Strong and Profitable Growth Continues During Third Quarter  Year-to-date (YTD) reported Group net revenue +10.9% YoY to AED 3.27 billion   YTD Group Like-for-like (LFL) revenue +3.5% YoY including Abu Auf in the prior comparable period   YTD Group EBITDA +18.0% YoY to AED 465 million with strong growth in profitability from Snacking, Agri and Water   YTD Group net profit  +12.7% YoY to AED 206 million post AED 39 million of additional interest costs versus the prior year   Excluding the currency headwind in Egypt, net revenue +20.7%, LFL revenue +12.6%, EBITDA +30.3% and net profit +27.3%   Abu Dhabi, UAE, 06 November 2023 – Agthia Group PJSC, one of the region’s leading food and beverage companies, today announced its results for the nine months ......read more

LG Announces Third-Quarter 2023 Financial Results

High Performance, Strong Profitability Reflect Progress in Advancing Business Portfolio, Accelerating B2B Business and Procuring New Growth Engines 02 November, 2023 — LG Electronics Inc. (LG) today announced third-quarter 2023 consolidated revenue of KRW 20.7 trillion and operating profit of KRW 996.7 billion, both the second highest third-quarter figures in the company’s history. The noteworthy performance was driven by both the company’s core home appliance business and vehicle solutions, one of its future growth engines. Home appliances more than doubled its operating profit year-over-year while vehicle solutions recorded an all-time high operating profit. The strong performance reflects the company’s smooth progress in the execution of its future vision for 2030, leading to solid revenue and profits ......read more

Abu Dhabi Chamber Signs MoU with FAB to Optimise the Investment Climate and Business Environment

 Al Qubaisi: The banking sector plays a pivotal role in attracting foreign direct investments and fostering a conducive business environment that promotes diversity, competitiveness, and growth 1 November 2023 - Abu Dhabi, UAE: The Abu Dhabi Chamber of Commerce and Industry (ADCCI) has signed a Memorandum of Understanding with First Abu Dhabi Bank (FAB). The MoU seeks to create a collaborative framework to optimise the investment climate and business environment in the Emirate of Abu Dhabi, in line with the Abu Dhabi Chamber’s objective to support the private sector and enhance its competitiveness.   The signing ceremony took place in the presence of His Excellency Ahmed Khalifa Al Qubaisi, CEO of the Abu Dhabi Chamber, and Sara Al Binali, Group Head of Corporate and Commercial Banking and Acting Group Head ......read more

KEZAD Commences AED 330m Primary Infrastructure Development for Food and Auto-Hubs

Developments expand KEZAD Al Ma’mourah’s footprint along E311 between Abu Dhabi and Dubai Abu Dhabi, 30 October, 2023: Khalifa Economic Zones Abu Dhabi – KEZAD Group, the largest operator of integrated and purpose-built economic zones in the UAE, today announced that infrastructure work at a cost of approximately AED 330 million on the development of Abu Dhabi Food Hub, Global Auto Hub - Abu Dhabi and other projects has already started within its Area B1 in KEZAD Al Ma’mourah. These investments are part of AD Ports Group’s 5-year organic capex program of AED 15 billion planned between 2023 and 2027.  Continuing its philosophy of partnering with the world’s best, KEZAD Al Ma’mourah Area B1 has been master-planned by Parsons. AECOM, one of the world’s largest infrastructure ......read more

Ethara Launches Khibrah Programme Aimed at Pioneering the Future of Emirati Talent in Entertainment Industry

Ethara empowering Emirati youth through Khibrah employment experience programme Part of Ethara’s strategic commitment to talent development in the region Abu Dhabi, UAE, 24 October 2023: Ethara, the region’s leading entertainment, event management and venue operator powerhouse, has today announced the launch of its pioneering programme, Khibrah, which translates to ‘experience’. The programme is designed to empower and nurture young, dynamic, and talented UAE Nationals within the entertainment, motorsport, event, and venue operator sector. Building on the rich legacy of Ethara, Khibrah is a commitment to shaping the future of the industry and supporting the next generation of Emirati talent.  The initiative features a one-year employment programme aimed at cultivating the leadership ......read more

Abu Dhabi Chamber signs MoU with Department of Government Enablement to boost Emirati Talent in the Private Sector

• Al Qubaisi: We are committed to strengthening the representation of our national staff and supporting their integration into the private sector’s job market     27 October 2023 - Abu Dhabi, UAE: The Abu Dhabi Chamber of Commerce and Industry (ADCCI) has signed a Memorandum of Understanding with the Department of Government Enablement – Abu Dhabi (DGE). The MoU establishes a framework for bilateral cooperation between the two parties to support all programs, initiatives, and projects aimed at fostering and advancing Emirati talent within the private sector.   The MoU outlines a shared commitment to support various programs and projects that train and recruit Emirati nationals in the private sector. It encompasses organising meetings and awareness workshops, as well as publishing ......read more

Tadweer and Abu Dhabi Airports Partner to Explore Progressive Waste Management Practices

Abu Dhabi, United Arab Emirates – 26 October 2023: Tadweer (Abu Dhabi Waste Management Company) and Abu Dhabi Airports have signed a Memorandum of Understanding (MoU) aimed at exploring progressive waste management practices across the Emirate’s five airports and paving the way for achieving a circular economy.  Under the terms of the MoU, Tadweer and Abu Dhabi Airports will collaborate to raise awareness on providing comprehensive waste management solutions at the airports, increasing the diversion of waste from landfills, developing tailored monitoring and reporting, which promotes circularity within the airport ecosystem and contributes to realizing Abu Dhabi’s commitment to sustainable waste management. Eng. Ali Al Dhaheri, CEO and Managing Director of Tadweer, said: “Our collaboration with Abu ......read more

Ghitha's Q3 Earnings Ignite with AED 3.3B in Revenue

• The Group reported strong revenue growth of 120% YoY for Q3 2023-YTD. • EBITDA growth of AED 174 MN YoY (Excluding fair value changes in investments) • Ghitha Holding's Q3 results, with revenue of AED 3.3 billion, have significantly increased the Group's overall value.  • Ghitha Holding’s total Assets are of AED 7.2 Bn (33% growth from LY).      Abu Dhabi, UAE; 26 October 2023: Ghitha Holding PJSC (ADX: Ghitha), the regional food and drink processing conglomerate corporation headquartered in Abu Dhabi, and a subsidiary of International Holding Company (ADX: IHC), has announced its third quarter YTD results for 2023, reporting a profit before tax of AED 124 million.   The company also gained from the robust performance in the regional food processing and ......read more

ADCB Reports Nine-month Net Profit of AED 5.752 bn, up 24%, and Q3'23 Net Profit of AED 1.942 bn, up 22%

Abu Dhabi, 25 October 2023 – Abu Dhabi Commercial Bank PJSC (“ADCB” or the “Bank”) today reported its financial results for the third quarter of 2023 (“Q3’23”). Record quarterly net profit driven by solid momentum in loan growth and increased net interest margin. The UAE economy remains resilient with strong long-term fundamentals and ADCB is well-positioned to benefit from robust consumer and business confidence. Key highlights – Q3’23 • Net profit of AED 1.942 bn was steady QoQ and increased 22% YoY • Net interest income of AED 3.179 bn increased 8% QoQ and 24% YoY • Non-interest income of AED 1.054 bn declined 7% QoQ and rose 11% YoY • Operating income of AED 4.233 bn increased 4% QoQ and 21% YoY • Cost to income ratio improved 210 basis ......read more

KEZAD Group Signs Expansion Agreement with Gulf Printing & Packaging Co. (GPP) Abu Dhabi

GPP Expands to Three Times its Size in KEZAD to Move Packaging Lines from Dubai Industrial Park to KEZAD Al Ma’mourah Abu Dhabi, UAE. 24 October, 2023: Khalifa Economic Zones Abu Dhabi - KEZAD Group, the largest operator of integrated and purpose-built economic zones in the UAE, today announced that it has signed a land lease agreement with its client Gulf Printing & Packaging Co for a new expansion of its facilities in KEZAD Al Ma’mourah. This expansion of more than 45,000 square meters, brings GPP’s total footprint in KEZAD to more than 67,000 square meters. This is their second expansion since 2021, which effectively triples the size of the facility the company occupies in KEZAD Al Ma’mourah. Gulf Printing & Packaging is a printing and packaging specialist company founded in Abu Dhabi on ......read more

Thuraya and YahClick Partner with Gate for Technologies Co. Ltd (G4T) to Boost Satellite-enabled Connectivity in South Sudan

Service partnership agreement covers vital sectors including government, telemedicine, education, NGOs, oil and gas, and Mobile Network Operators  Abu Dhabi, UAE, 23 October 2023 – Al Yah Satellite Communications Company PJSC, the UAE’s flagship satellite solutions provider, listed on the Abu Dhabi Securities Exchange (“ADX” under symbol: YAHSAT), today announced that its mobility arm, Thuraya Telecommunications Company, and its satellite broadband solutions provider, YahClick have signed a new service partnership to launch their mobility and data services in South Sudan in cooperation with the South Sudanese start-up Gate for Technologies (G4T). Through this partnership, Thuraya and YahClick will provide several high-growth sectors in South Sudan with satellite-enabled connectivity solutions designed ......read more

UNCTAD's 8th World Investment Forum in Abu Dhabi Concludes Successfully

 Over 8,000 participants, including 1,100  speakers from 160 countries discussed ways of enhancing investment in sustainable development  157 diverse events held during the forum, reaffirming role of international cooperation in shaping a brighter future    Abu Dhabi, UAE, 21 October 2023 – The prestigious World Investment Forum (WIF) successfully wrapped up its 8th edition in Abu Dhabi under the overarching theme of ‘Investing in Sustainable Development’. The event, which ran from October 16 to 20, saw robust participation from global thought leaders, investors, experts, and stakeholders spanning multiple nations.   Over its five-day duration, the biennial forum welcomed more than 8,000 participants, including 1,100 speakers, interventions by two Royal Highnesses, five ......read more

New Iteration of ADQ FWD Paper Showcasing the Transformative Impact of Sovereign Wealth Funds

• New ADQ FWD paper highlights the role of sovereign investors in building resilient economies and intergenerational value through broad mandates, co-investments and national champions   Abu Dhabi, UAE – 18 October 2023: ADQ, an Abu Dhabi-based investment and holding company, published its latest paper that delves into the dynamic role of sovereign wealth funds in accelerating economic transformation and sustainable growth.  The paper, Foundation for Prosperity: The Contributing Role of Sovereign Wealth Funds in Laying the Building Blocks for Economic Growth, captures the insights from a roundtable hosted by ADQ as part of its thought leadership series ‘ADQ FWD.’ Government officials, sovereign investors, policy advisors and investment bankers discussed the contributions of sovereign wealth funds ......read more

EGA and INALUM Complete Start-up of Pilot Pots Upgraded with EGA Technological Know-how at Indonesian Smelter

United Arab Emirates, 10 October 2023: Emirates Global Aluminium and PT Indonesia Asahan Aluminium (INALUM) today announced the completion of the start-up of five pilot reduction cells at INALUM’s Kuala Tanjung aluminium smelter upgraded with EGA’s technological know-how. The pilot reduction cells are the first step in a larger planned project to upgrade a further 298 pots in Potlines 1 and 3 of the smelter, targeting to increase the amperage from 195ka to 215ka and boost production capacity by approximately 10 per cent. EGA has completed a series of similar upgrades across its Jebel Ali site in Dubai and Al Taweelah site in Abu Dhabi in recent decades. EGA technologists and engineers have dedicated more than 10,000 hours of work on the Kuala Tanjung upgrade project so far in design and implementation, including 4,300 ......read more

Abu Dhabi Airports Free Zone and MSM Logistics sign AED 85 million Warehouse Construction Project

• Abu Dhabi Airports subsidiary welcomes foreign construction company into its expanding partner ecosystem  • MSM Logistics LLC will develop 1 warehouse across 16,500m2 within the Al Falah district  • Agreement also includes the leasing of land totalling 28,623 m2    Abu Dhabi, UAE – 04 October 2023: Abu Dhabi Airports Free Zone (ADAFZ), a subsidiary of Abu Dhabi Airports, today announced a new partnership with MSM Logistic LLC, an overseas construction and development company, to develop a new building complex within the free zone at an investment value of AED 85 million.  Set to be the first development to start building in the Al Falah district, an ongoing master development towards the east of Abu Dhabi International Airport (AUH), the project includes the construction of 1 ......read more

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Abu Dhabi Airports Free Zone and MSM Logistics sign AED 85 million warehouse construction project • Abu Dhabi Airports subsidiary welcomes foreign construction company into its expanding partner ecosystem  • MSM Logistics LLC will develop 1 warehouse across 16,500m2 within the Al Falah district  • Agreement also includes the leasing of land totalling 28,623 ......read more

Abu Dhabi Airports Free Zone Collaborates with Masdar City Free Zone to Provide New Growth ...…

1. ADAFZ will welcome companies referred by Masdar City Free Zone, offering benefits including zero cost free zone branch licenses and manufacturing space 2. Collaboration will boost strategic partnerships and synergies between free zones and will benefit customers operating in both zones with minimal cost whilst increasing commercial space occupancy levels   Abu Dhabi, UAE – ......read more

Abu Dhabi's Non-oil Economy Expands by 12.3% in Q2 2023 to Highest Value Pushing Growth of H1 2023 ...…

United Arab Emirates, Abu Dhabi 02 October 2023: The Statistics Centre – Abu Dhabi (SCAD) has announced the Gross Domestic Product (GDP) estimates for the second quarter of 2023, revealing a whopping 12.3% growth of non-oil economy, and a 3.5% increase in the total GDP compared to the same period in 2022, a testament to Abu Dhabi economy’s competitiveness and resilience, enabling ......read more

DCT Abu Dhabi Signs Partnership with Mubadala Foundation Initiating AED 50 Million Cultural ...…

Five-year partnership with Mubadala Foundation will support multiple DCT Abu Dhabi cultural programmes, initiatives and institutions, including Louvre Abu Dhabi and Zayed National Museum Agreement creates opportunity for knowledge exchange and supports Abu Dhabi’s bold vision to transform the emirate into a global cultural centre Abu Dhabi, UAE – 25 September 2023: The ......read more

42 Abu Dhabi Hosts Coding Hackathon in Collaboration with Al Hathboor Bikal.ai…

- Held under the title "AI See a Solution: Computer Vision Hackathon 2023" - 42 Abu Dhabi students developed an innovative technology which supports individuals with visual impairments Abu Dhabi, UAE, 22 September 2023: 42 Abu Dhabi, the UAE capital’s innovative and disruptive coding school that provides a unique peer-to-peer, gamified learning methodology, held a hackathon ......read more

Abrahamic Family House Announces Programming to Foster Interfaith Dialogue and Inspire Understanding…

Panel discussions, workshops and events around our shared humanity, the value of cooperation, and the role of religious teachings in inspiring sustainable and peaceful coexistence    Abu Dhabi, UAE, 18 September 2023: The Abrahamic Family House has announced its upcoming programme of panel discussions and events on the themes of peaceful coexistence and the role of faith in ......read more

Infracapital successfully Closes Largest Ever co-investment process into Zenobē…

Abu Dhabi, 14 September 2023: Infracapital, the infrastructure equity investment arm of M&G Plc, has successfully closed a co-investment process in Zenobē, providing the opportunity for a consortium of Infracapital’s strategic LPs, including Mubadala and Pantheon, to invest into a high-quality asset. “This marks a significant milestone for the Infracapital platform as it ......read more

SailGP and Mubadala bring the World's Most Exciting Racing on Water to the UAE's Capital for the ...…

First ever Mubadala Abu Dhabi Sail Grand Prix Presented by Abu Dhabi Sports Council to take place at Mina Zayed, January 13-14, 2024  Abu Dhabi, UAE - September 13, 2023 - Abu Dhabi will host the world’s most exciting racing on water as it gears up for the inaugural Abu Dhabi Sail Grand Prix. Tickets are now on sale to witness the sport’s best athletes representing national ......read more

ADNIC Contributes AED 2 Million to The Authority of Social Contribution - Ma'an To Support Societal ...…

Abu Dhabi, 11 September 2023: Abu Dhabi National Insurance Company (ADNIC), one of the leading regional multi-line insurance providers for corporates and individuals, has contributed AED 2 million to The Authority of Social Contribution - Ma’an, the Government of Abu Dhabi’s official channel to receive social contributions.  The contribution aligns with ADNIC’s efforts ......read more

Multiply Group Secures 55% Majority Stake in Media 247, Strengthening its Media Portfolio…

Valued at AED 225 million, the move positions Multiply Media as a key player in the UAE's media landscape Abu Dhabi, UAE, September 06, 2023: Multiply Group (ADX: MULTIPLY), an Abu Dhabi-based investment holding company, confirmed today the completion of its acquisition of a 55% majority stake in Media 247, a leading outdoor advertising firm in the UAE, for AED 225 million. This strategic ......read more

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