AbuDhabiPR.com, Online Press Release from Abu Dhabi and Al Ain
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I Squared announces new shareholders in Transportation Equipment Network ("TEN") the leading North American full-service trailer lessor

Mubadala Investment Company, Qatar Investment Authority and other co-investors to invest over $600 million to fund further growth Proceeds from the fundraise used to fund the acquisitions of NETS, CTL and TIP Canada; Underscores I Squared's ability to build and scale platforms Investment creates a North American champion for flexible last-mile transportation solutions and an industry leading full-service lessor with over 83,000 trailers Abu Dhabi, UAE - 15 July 2024: I Squared Capital, a leading independent global infrastructure investment manager, today announced that it has raised in excess of $600 million from Mubadala Investment Company ("Mubadala"), the Abu Dhabi sovereign investor, Qatar Investment Authority ("QIA") and others for Transportation Equipment Network ("TEN"). Trailers ......read more

KEZAD Commissions New Natural Gas Network for Clients

The newly developed gas network will help KEZAD realise its sustainability goals by cutting emissions Abu Dhabi, United Arab Emirates – 16 July 2024: Khalifa Economic Zones Abu Dhabi – KEZAD Group, the largest operator of integrated and purpose-built economic zones, has successfully commissioned a new natural gas network having 311,100 MMBTU/Day capacity in KEZAD Area A - Al Ma'mourah. The new natural gas network has been developed by the KEZAD Group subsidiary, KEZAD Utilities & Facilities Management Company in three phases with a capital investment of around AED 300 million. The total length of the newly developed gas network is around 30 kilometres and is in addition to the presently operational gas networks in ICAD - KEZAD Musaffah and KEZAD Al Ma'mourah of 82 kilometres. Mohamed Al Khadar Al ......read more

ADCB unveils a groundbreaking Traveller Credit Card with unmatched benefits

Abu Dhabi, UAE - 14 July 2024: Abu Dhabi Commercial Bank announced today the launch of its all-new Traveller Credit Card, ensuring that its innovative financial solutions remain integral to customers’ evolving lifestyles. The leading bank has meticulously crafted its Traveller Credit Card to cater to the increasing demand for financial solutions that offer flexibility in travel rewards, empowering customers to maximize value while experiencing any destination in the UAE or across the world. The new Traveller Credit Card from ADCB brings unparalleled simplicity and value to its users, promising a suite of comprehensive benefits and rewards for both globetrotters and local adventurers alike. Aside from the exceptional AED 2000 hotel stay welcome voucher from hotels.com, cardholders can enjoy 10% cashback on all their expenditures ......read more

59% growth of Abu Dhabi non-oil GDP in 10 years

Abu Dhabi, 5 July 2024: The Abu Dhabi Department of Economic Development (ADDED) organised, in collaboration with the Abu Dhabi Investment Office (ADIO), the third edition of Al Multaqa quarterly meetings, presenting the business community with recent updates on the Emirate’s economy and achievements in the first half of 2024 and highlighting future opportunities. Al Multaqa Meetings empower Abu Dhabi to accelerate economic growth by providing a platform for ongoing dialogues to support investment and the development of new policies that further enhance the Emirate’s business environment. His Excellency Ahmed Jasim Al Zaabi, Chairman of ADDED, said: “Abu Dhabi’s transformation to a smart, diversified, and sustainable economy, driven by “Falcon Economy” initiatives, has established the ......read more

AD Ports Group and the International Trade Centre (ITC) Sign a Strategic MOU for Cooperation to Enhance the Trade Facilitation Initiatives Globally

Geneva, Switzerland/ Abu Dhabi, UAE,  28 June 2024: AD Ports Group (ADX: ADPORTS), one of the world's leading facilitators of global trade, logistics, and industry, and the International Trade Centre (ITC), the joint agency of the United Nations and the World Trade Organization (WTO), signed today a memorandum of understanding (MOU) to cooperate on trade facilitation, digital trade, logistics and transport through policy dialogue, digital trade solutions, capacity building, experience sharing and technical assistance. The agreement was signed today by Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO – AD Ports Group, and Pamela Coke-Hamilton, Executive Director, ITC. Under the MOU, the two entities will use various solutions to simplify trade, improving the efficiency of the transport, maritime, ports ......read more

AD Ports Group and Saif Powertec Limited to Explore Cooperation on Multiple Port Projects in Bangladesh

Abu Dhabi, UAE – 26 June 2024: AD Ports Group (ADX: ADPORTS), one of the world's leading facilitators of global trade, logistics, and industry, and Saif Powertec Ltd. have signed a Memorandum of Understanding (MoU) to potentially cooperate on operational projects and projects under development in various ports in Bangladesh. The MoU was signed by Ahmed Al Mutawa, Regional CEO, AD Ports Group, and Tarafder Md Ruhul Amin, Managing Director of Saif Powertec Ltd., in the presence of senior officials from both parties. Under the terms of the MoU, both parties will explore working closely together to conduct joint activities and explore working on the development of Ports, container depots and logistics facilities in Chattogram, Mongla, and Dhaka. Both parties will establish a joint working group to share expertise, studies, ......read more

ADDED and UAEU to launch Abu Dhabi family business index

The first of its kind index in the UAE and region will provide valuable insights, boost economic diversification and growth Abu Dhabi, 25 June 2024: The Abu Dhabi Department of Economic Development (ADDED) and United Arab Emirates University (UAEU) have signed a Memorandum of Understanding (MoU) to launch the Abu Dhabi Family Business Index, the first of its kind in the region. The two parties will also cooperate to strengthen the Emirate’s economic intelligence and research infrastructure, providing insights into economic diversification and growth. The Abu Dhabi Family Business Index will measure and rank various metrics related to family-owned, as well as family-controlled, businesses in Abu Dhabi, such as performance and influence, with plans to expand the scope of the index to the wider region and world. The index will ......read more

Broaden Energy invests AED 1 billion to establish hydrogen equipment manufacturing complex in Abu Dhabi

Abu Dhabi, 14 June 2024 — The Abu Dhabi Department of Economic Development (ADDED) announced today the signing of a Memorandum of Understanding (MoU) with Broaden Energy, a global leader in hydrogen energy solutions. Under this agreement, Broaden Energy will establish the first hydrogen equipment manufacturing complex in Abu Dhabi. This complex aims to support the goals of the Abu Dhabi Industrial Strategy (ADIS), advancing sustainability, developing value chains, and strengthening Abu Dhabi’s position as the region’s most competitive industrial hub. The new manufacturing complex, with over AED 1 billion in investments, will serve as a cornerstone for the region’s hydrogen economy, creating new job opportunities and stimulating economic development and innovative industrial solutions. ADDED and Broaden Energy ......read more

ADNEC Group to launch the largest edition of Abu Dhabi Summer Sports in Abu Dhabi and Al Ain

The third edition of Abu Dhabi Summer Sports covers over 34,000 square metres, a 25% increase from the previous edition of 27,000 square metres. 37 courts, fields and pitches will be available to book at ADSS. Three new activities have been added to this edition. Comprehensive health and wellness features have been introduced. Abu Dhabi 13 June 2024: ADNEC Group, in partnership with the Abu Dhabi Sports Council, is organising the third and largest edition of Abu Dhabi Summer Sports (ADSS) in Abu Dhabi and Al Ain (AASS). This year features new sporting activities as well as health and wellness initiatives to provide a well-rounded summer experience suitable for all ages and fitness levels. As the leading and largest indoor sporting event in the region, the ADNEC Centre in Abu Dhabi will be transformed into a sporting hub ......read more

Abu Dhabi launches the unified economic licence to enhance ease of doing business

Abu Dhabi, 06 June 2024 — The Abu Dhabi Department of Economic Development (ADDED) in collaboration with the  Abu Dhabi Free Zones Council launched the Unified Economic License in Abu Dhabi, spearheaded by Khalifa Economic Zones Abu Dhabi (KEZAD Group), Abu Dhabi Airports Free Zone (ADAFZ), Masdar City Free Zone, and Creative Media Authority (CMA) to bolster the Emirate's competitiveness as a business-friendly destination for investors and entrepreneurs. The new initiative unifies procedures for registering economic licenses across the Emirate and its free zones, in a move to streamline business setup and reinforce governance and transparency. This will introduce a standardised reference number for all licenses and ensure company data remains current within a newly integrated Abu Dhabi registry, simplifying data ......read more

ADNEC Group and Department of Energy announce strategic partnership on the IDRA World Congress in Abu Dhabi in December 2024

Capital 360 Event Experiences will be the Professional Conference Organisers working with the support of other ADNEC Group subsidiaries Congress showcases new desalination and water reuse technologies that will help tackle the challenge of water scarcity worldwide Summit will gather global thought leaders, outstanding innovators, and influential executives to share knowledge on impactful new solutions Abu Dhabi, 6th June 2024 – ADNEC Group and the Abu Dhabi Department of Energy today announced their partnership at a signing ceremony, appointing Capital 360 Event Experiences as the Professional Conference Organiser (PCO) for the prestigious International Desalination and Reuse Association (IDRA) World Congress at ADNEC Centre Abu Dhabi from 8-12 December 2024. As the PCO, Capital 360 Event Experiences, the event ......read more

Danube Group Onboards Dubai Media Inc. as Their Official Media Partner

Dubai, UAE – June 5, 2024 Danube Group, one of the Middle East's largest diversified conglomerates, announced its strategic collaboration with Dubai Media Inc (DMI). This partnership establishes Dubai Media Inc. as the official media partner for Danube Group, marking a significant milestone in the Group's communication and marketing strategy. Rizwan Sajan and Adel Sajan attended the Arab Media Forum (AMF) with the Dubai media team, organized by The Dubai Press Club (DPC). AMF is the region’s largest media thought leadership event, held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. The 22nd edition of AMF highlighted the crucial role of media in shaping the region's future and fostering impactful dialogues. During the ......read more

2024 marks a break through for sustainability in the GCC, PwC report

Our survey indicated that four in five executives (79%) have a formal sustainability strategy in place, with 52% fully embedding across their organisation. Companies are increasingly creating positions such as Chief Sustainability Officer, and gaining greater support from boards and C-suites. Half of the survey respondents stated that they have made a net-zero commitment, with an additional 26% working toward one. Building a talent pipeline is essential to achieve sustainability commitments, particularly in emerging technologies such as GenAI. Leaders in the region are increasingly looking to secure green loans and capital market funds to support their sustainability efforts. ​Dubai, UAE, 05 June 2024 – PwC Middle East’s recent sustainability report reveals that companies in the Middle East are ......read more

EarthSoul celebrates World Environment Day with expert panel on environmental stewardship

Experts to explore strategies for resilient communities through environmental stewardship and community resilience Dubai – June 3, 2024:  EarthSoul Festival, organized by Orbit Events, will feature a pivotal panel discussion titled "Building Resilient Communities: Integrating Environmental Stewardship and Sustainability", on the occasion of the World Environment Day. The event is scheduled to take place on June 5th at the Coca Cola Arena, starting at 11:30 AM. The panel will feature experts including Karen Storey, Founder of The Storey Group; Frederic Paille, Co-Founder of CPI Industry; Helene Coulon, Sustainability Director at Dubai Holding Entertainment; Subhan Ali, Manager of Facilities Management at Coca-Cola Arena; Jibran Munaf, Founder of The Finance 360; Srihari Prahalad, Founder of SpryEN; and Morea ......read more

Dubai SME and Danube Group Sign Cooperation Agreement to Boost Market Opportunities and Foster Growth for Emirati-owned SMEs

Dubai, UAE – May 30, 2024 – Dubai SME, a subsidiary of the Dubai Department of Economy and Tourism (DET), mandated to develop the small and medium enterprise (SME) sector, and Danube Group, a leading conglomerate in the Middle East, have signed a Cooperation Agreement to diversify the buyer base and expand market opportunities for Emirati-owned SMEs. This strategic alliance seamlessly aligns with the vision of His Highness, Sheikh Mohamed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, and the goals of the ambitious Dubai Economic Agenda, D33 to further consolidate Dubai’s position as a leading global city for business and leisure. The signing ceremony took place at Danube Properties Headquarters in Dubai, with Rizwan Sajan, Founder and Chairman of Danube Group, and H.E. ......read more

KEZAD Group signs lease agreement with NMDC Energy for AED 367m manufacturing facility in Abu Dhabi

224,000 sqm facility in KEZAD will enhance the emirate's standing in the marine engineering industry Abu Dhabi, UAE – 03 June 2024: Khalifa Economic Zones Abu Dhabi – KEZAD Group, the largest operator of integrated and purpose-built economic zones, and NMDC Energy, a subsidiary of National Marine Dredging Company (NMDC), today signed an agreement for the establishment of a new manufacturing facility in KEZAD. The 50-year lease agreement signed at the Make It In The Emirates Forum 2024, will see NMDC Energy invest AED 367 million ($100 million) in a 224,000 sqm facility in KEZAD, designated for modular fabrication. The project will offer several strategic benefits to the regional oil and gas sector including world-class engineering, procurement, project management, fabrication, installation and commissioning ......read more

ENEC and CNNC sign MoU for cooperation and best practice in the development and operation of nuclear energy plants

Abu Dhabi, UAE – 01 June 2024: The Emirates Nuclear Energy Corporation (ENEC) has signed a Memorandum of Understanding (MoU) with China National Nuclear Corporation (CNNC) to explore opportunities to collaborate and ensure best practice in the development, operation and maintenance of civil nuclear energy plants. The MoU was signed by His Excellency Mohamed Al Hammadi, Managing Director and Chief Executive Officer of ENEC and Yu Jianfeng, Chairman of CNNC in Beijing. The MoU provides a framework for collaboration in short and long-term fuel cycle procurement, developing best practices in operation and maintenance (O&M) of civil nuclear energy facilities, nuclear environmental protection and other areas of mutual interest – including the development of new nuclear energy plants, research and development and exploring ......read more

Line Investments & Property Partners with Lulu Money to Launch Digital LAKA Gift Card App

L.I.P. introduces the Digital LAKA Gift Card Application. Laka App can be used at any of the Line Investments Mall in UAE Main features include – buy / gift Digital Laka card, Mall Promotions and Events details, store location, Brand offers, Mall service information. Laka App is powered by Lulu Money and partnered with ADCB Abu Dhabi, UAE – May 31st, 2024 – Line Investments & Property (L.I.P.), a premier shopping mall development division of Lulu Group International, joining hand with Lulu Money one of UAE’s leading financial services companies, to introduce the Digital LAKA Gift Card Application, set to revolutionize the shopping experience across the UAE. The objective behind introducing the virtual card is to enhance the shopping experience for customers, providing convenience, ......read more

Line Investments & Property Announces one-month Big Bonanza Grand Summer Super Sale with Exciting Raffles

Line Investments & Property presents a month-long Summer Super Sale The summer super sale begins from May 31st till June 30th  2024 Discounts of upto 90% on brands across all line investments 11 malls in Abu Dhabi, Al Ain and Al Dhafra The raffle giveaway includes cars, exotic travel packages, gold vouchers and much more. Abu Dhabi, UAE – May 31st, 2024 - Line Investments & Property, a premier retail division of Lulu Group International, is excited to announce the highly anticipated Summer Super Sale, taking place from May 31st to June 30th 2024. The Grand sale was inaugurated by Mr. Wajeb Al Khoury, Director Line Investments and property (LIP) and Biju George, General Manager, LIP Shoppers can enjoy massive discounts of up to 90% off across 11 participating malls in Abu Dhabi, Al Ain, and Al Dhafra, ......read more

Consortium Signs MoU for the Development of a Green Methanol Facility in Egypt

Facility to aid to maritime sector decarbonisation goals Abu Dhabi, UAE – 28 May 2024: AD Ports Group (ADX: ADPORTS), a facilitator of global trade, logistics and industry, Transmar, a leading container shipping line and terminal operator in the MENA region, and Orascom Construction, a leading global engineering and construction contractor with a strong track record in the construction and development of infrastructure industrial projects, have signed an MoU for the development of a green methanol storage and export facility. This facility will aim to supply low-carbon fuel for maritime transport, presenting an opportunity to establish clean alternative energy storage solutions globally. Green methanol is a synthetic fuel produced renewably and without polluting emissions, and can be produced from green hydrogen. This ......read more

Abu Dhabi Exports Office participates in Make it in the Emirates Forum

Abu Dhabi, May 28, 2024 – The Abu Dhabi Exports Office (ADEX), the export-financing arm of Abu Dhabi Fund for Development (ADFD), took part in the third edition of the Make it in the Emirates Forum, held at the Abu Dhabi Energy Center under the theme “INVEST, INNOVATE, GROW”. The event was organized by the Ministry of Industry and Advanced Technology, in collaboration with the Abu Dhabi Department of Economic Development, and ADNOC Group. The ADEX pavilion received significant engagement from visitors and participants, who explored the benefits of its innovative financing solutions, which are designed to support UAE companies and enhance the global competitiveness of national industries. During the forum, ADEX held meetings with its strategic partners to explore future opportunities that would align with national ......read more

ADDED and EDGE Sign Cooperation Agreement to Enhance Abu Dhabi's Industrial Capabilities

Abu Dhabi, UAE: 27 May 2024 – EDGE, one of the world’s leading advanced technology and defence groups, and the Abu Dhabi Department of Economic Development (ADDED), the catalyst for economic growth and diversification in the emirate of Abu Dhabi, signed a cooperation agreement today to explore opportunities in strengthening the industrial capabilities of the UAE’s largest emirate. Under the cooperation agreement, signed at the Make in the Emirates Forum 2024, the EDGE Learning & Innovation Factory, a pioneering Industry 4.0 skills and advanced technology development hub, will provide high-quality training programmes, Industry 4.0 use case demonstrations, innovation events, and advisory services. As part of their efforts to achieve the objectives of the Abu Dhabi Industrial Strategy (ADIS), ADDED and EDGE will ......read more

AD Ports Group Launches Maritime Sustainability Research Centre

Facility aims to drive maritime innovation and sustainable growth Abu Dhabi, United Arab Emirates – 24 May 2024: AD Ports Group (ADX: ADPORTS), a leading facilitator of global trade, logistics and industry, today launched The Maritime Sustainability Research Centre, Abu Dhabi (MSRCAD), a non-profit agency dedicated to joint industry-government academia research, with a focus on sustainability and innovation. The Maritime Sustainability Research Centre, launched at an event attended by leading government and maritime industry representatives, will be operated and managed by Abu Dhabi Maritime Academy (ADMA), the region's leading academic facility catering to mariners, under the umbrella of Maritime Hub Abu Dhabi, Abu Dhabi Maritime's newly launched platform bridging the gap between public and private sectors with the ......read more

Alpen Capital Report highlights investment opportunities amid strengthening investment ties between GCC and India

Dubai - May 23, 2024: The UAE-based investment banking advisory firm, Alpen Capital, announced the publication of its research report titled “GCC-India Corridor – Investment Opportunities”. This report provides an analysis of the investment flows between the GCC and India. It assesses the competitiveness of both regions and identifies key sectors for potential cooperation and investment. Additionally, the report examines the investment drivers and challenges within both regions. Furthermore, it profiles prominent Indian companies which have invested in the GCC and vice versa. The report also includes profiles of the sovereign wealth funds (SWFs) of the GCC. “Indian engagement with the GCC countries is expanding at a rapid pace. The vision of the leadership on both sides, in India as well as in the GCC ......read more

Hong Kong is a gateway between Middle East and China, says Secretary for Justice

Dubai - May 23, 2024: Hong Kong (HK) has very often been described as a ‘super connector’ and a ‘super value-adder’ between China and countries outside China, says Mr. Paul Lam Ting-kwok, Secretary for Justice of the Hong Kong Special Administrative Region, highlighting HK’s comprehensive professional legal services and its strengths in the rule of law.  Speaking at a forum titled “Hong Kong - The Common Law Gateway for UAE Businesses to China and Beyond” held in Dubai to promote the Special Administrative Region’s legal and dispute resolution services. Mr. Paul Lam stated that Hong Kong has been assigned to be the international legal and dispute resolution services centre under various important national development plans of China.  The forum organised by the Department of ......read more

Largest ever edition of the International Exhibition for National Security & Resilience gets underway at ADNEC Centre Abu Dhabi

210 exhibitors set to showcase innovative new tech and products 35 participating countries represented 6 innovative new features included for the first time at ISNR Abu Dhabi, 21 May 2024: Under the patronage of Lt. General His Highness Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior, the largest ever edition of the International Exhibition for National Security & Resilience (ISNR) 2024 kicked off today at the ADNEC Centre Abu Dhabi. Held under the theme of “Accelerating Transformation in National Security Ecosystem”, ISNR now has a global reputation as an essential platform for the national and cyber security sectors. The total square meterage of area space at this year’s event has increased by 57% to total 24,038 square metres compared to the event’s previous ......read more

SAFEEN Group Trials First Electric Tug in Middle East for Marine Services Fleet

Zero emissions during operation contributes significantly to reducing the carbon footprint of maritime activities Abu Dhabi, UAE – 21 May 2024: SAFEEN Group, part of AD Ports Group (ADX: ADPORTS), has announced it is trialling an electric tug within their Marine Services fleet, the first of its kind in the Middle East, which will be deployed at AD Ports Group's flagship facility, Khalifa Port. Unveiled during the 27th International Tug & Salvage Convention, Exhibition & Awards 2024, Dubai, the Damen RSD-E Tug 2513 is an all-electric harbour tug, expected to provide numerous advantages including zero emissions from "Tank to Propeller", operational efficiency thanks to boasting a 70-ton bollard pull able to handle the largest vessels, and cost-effectiveness due to lower maintenance costs compared to ......read more

EDGE Group and Fincantieri Formalise Shipbuilding Joint Venture, MAESTRAL, and Announce 400 Million Euro Order for 10 Naval Vessels

Official signing ceremony formalising the launch of the Joint Venture between both companies in the presence of His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi Ceremony followed by order announcement by the UAE Coast Guard Forces for 10 high-performance 51m Offshore Patrol Vessels (OPVs) Abu Dhabi, UAE: 20 May, 2024 – EDGE, one of the world’s leading advanced technology and defence groups, and Fincantieri, one of the largest shipbuilding companies in the world, have signed an agreement today formalising the launch of MAESTRAL an Abu Dhabi-based shipbuilding Joint Venture (JV) between both companies. The JV, which was first announced in February of this year, will capitalise on global opportunities for the design and manufacture of advanced naval vessels. EDGE holds a ......read more

Mubadala makes first renewable energy investment in Japan

Abu Dhabi, May 20, 2024 – Mubadala Investment Company (Mubadala), the Abu Dhabi sovereign investor, has made a cornerstone investment in PAG’s Asia Pacific renewable energy platform (“PAG REN I”), primarily focused on supplying solar power to corporations across Japan. PAG REN I will leverage PAG’s multi-decade experience in the Japanese real-estate space as well as the expertise of its in-house renewable energy team, PAG Renewables. The platform aims to operate across developed Asia Pacific economies with a strong focus on Japan, and will support Japan’s ambitious solar plans, with the country targeting to install 108GW of solar capacity by 2030. Hammad Rahman, Head of Asia Pacific – Traditional Infrastructure at Mubadala, said: “Mubadala is excited to extend our presence in Japan ......read more

Mubadala Investment Company Reports 2023 Financial Results

Company broadens investments in AI, other industries of the future as assets under management grew to over AED 1.1 trillion AED 89 billion deployed in key industries including artificial intelligence, technology, digital infrastructure, life sciences & clean energy, and private credit   Creation of new businesses in the UAE and growth in international investments underpinned Mubadala’s role as a global investor Portfolio achieved a five-year rate of return of 10.3% 17 May 2024, Abu Dhabi - Mubadala Investment Company (“Mubadala”), an Abu Dhabi sovereign investor, has released its 2023 financial results for the Group. In a year marked by persistent global inflation and sporadic disruptions to supply chains, Mubadala grew its portfolio with assets under management (AUM) reaching more ......read more

Agility Global PLC Reports Q1 2024 Net Profit of $30.5 Million

Board approves $65 million interim cash dividends.      Q1 2024 (Million USD) Q1 2023 Carved out (Million USD) Variance (%) Revenue 979.4 927.6 5.6% EBITDA 169.5 126.5 34.0% EBIT 95.4 62.2 53.3% Net Profit 30.5 7.2 323.1% EPS ......read more

Abu Dhabi Ports Company PJSC Appoints Al Ramz as a Liquidity Provider

Abu Dhabi,  15 May 2024: Al Ramz Capital LLC announced today its appointment, as a liquidity provider for Abu Dhabi Ports Company PJSC, an Abu Dhabi-listed leading facilitator of global trade, logistics and industry (ADX: ADPORTS).  Following regulatory approvals, Al Ramz will commence independent trading of ADPORTS shares within specified parameters and in adherence to regulatory guidelines on 16  May 2024. A listed company appoints a liquidity provider to optimize share trading by enriching the order book, minimizing trading spreads, reducing price volatility and augmenting trading volume.  This, in turn, diminishes the overall illiquidity discount, narrowing the divide between intrinsic and market value. Al Ramz is a licensed market maker on the Dubai Financial Market (DFM) and Abu Dhabi Securities Exchange ......read more

Deyaar posts AED 77.5 million Net Profit Before Tax, up 38% YOY in Q1 2024

Net profit before tax for Q1 2024 amounted to AED 77. 5 million, a significant growth from AED 56.4 million in Q1 2023. Total Assets increased by 7% from AED 6,240 million as of 31 March 2023 million to reach AED 6,704 million as of 31 March 2024. Revenue for the three-month period ending March 2024 reached AED 327.8 million compared to AED 312.5 million in March 2023, reflecting a YOY increase. Liquidity increased by AED 454 million due to robust receivables and increased advances from customers, indicating a positive trend in the current market.   Earnings per share increased from 1.29 fils in Q1 2023 to 1.67 fils in Q1 2024   Dubai, UAE – 15 May 2024: Deyaar Development PJSC ("Deyaar"), a leading real estate developer and service provider in Dubai, UAE, has reported a YoY increase in ......read more

TAQA Group Reports AED 2.1 billion Net Income for Q1 2024

Q1 Net Income 2024, up by 6.9% compared to the same period last year, excluding one-off items Revenues up 5.3% on same period last year to AED 13.7 billion Adjusted EBITDA 4.9% up on same period last year to AED 5.5 billion Abu Dhabi, UAE – UAE – 15 May 2024: Abu Dhabi National Energy Company PJSC (TAQA or the Company), one of the largest listed integrated utilities in Europe, the Middle East and Africa, reported its earnings for the period ending 31 March 2024. TAQA delivered a robust financial performance, bolstered by the recognition of contributions from Sustainable Water Solutions Holding Company PJSC (SWS Holding). Financial highlights Group revenues of AED 13.7 billion, 5.3% higher than the prior-year period, due to the contribution from SWS Holding, which also increased adjusted EBITDA and net ......read more

EDGE Signs Agreement with PT Pindad for Ammunition Production Line

Abu Dhabi, UAE: 14 May 2024 – EDGE, one of the world’s leading advanced technology and defence groups, signed a USD 27 million (AED 99 million) agreement today to supply an ammunition production line to PT Pindad, an Indonesian state-owned enterprise and one of Asia’s leading defence manufacturers. The agreement is for the production of 5.56x45mm and 7.62x51mm calibre ammunition, and is aligned with the Indonesian Ministry of Defence’s objective to increase local job creation and sovereign manufacturing capabilities. The ammunition facility is scheduled to commence production in 2026. The agreement is part of an ongoing effort between both countries that aims to increase bilateral trade to USD 10 billion by 2030 under the Comprehensive Economic Partnership Agreement.

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ADNEC Group showcases its word-class business tourism capabilities at IMEX Frankfurt 2024

Abu Dhabi, UAE, 14 May 2024: ADNEC Group participated in IMEX Frankfurt 2024, known as 'the heartbeat of the global business events community', to showcase the incentives offered by the ADNEC Centre Abu Dhabi to event organisers worldwide from 14th to 16th May. Through its participation, ADNEC Group reaffirmed its leading position in the business tourism industry and highlighted its exceptional capabilities in hosting prominent international events. ADNEC Group joined the Discover Arabia breakfast session on May 14, alongside various stakeholders from the Middle East business and leisure tourism sectors. In the presentation, ADNEC Group's Corporate, Conferences, and Exhibitions divisions expanded their international footprint, showcasing the group's facilities, infrastructure, and capacity to host large-scale ......read more

Al Masaood Bergum Showcases Innovative Modular Solutions at Saudi Giga Projects 2024 & MENA Construction Summit 2024

Al Masaood Bergum's modular solutions to expand to Saudi market Abu Dhabi, May 13, 2024 – Al Masaood Bergum, part of Al Masaood Group, and a leading tailor-engineered modular building systems provider, successfully participated as an attending partner at the Saudi Giga Projects 2024 and MENA Construction Summit 2024 at the Hilton Hotel & Residences in Riyadh on 13-14 May 2024. The first day of the event was dedicated to Saudi Giga Projects 2024, giving participants an overview and future perspective of Saudi Arabia's giga project initiatives and the opportunities it presents for contracts and suppliers. The second day focused on the MENA Construction Summit 2024, fostering in-depth conversations about the execution of construction projects, while also emphasizing enhanced sustainability and efficiency ......read more

New Golden Spike Production Facility in KEZAD to Augment UAE Food Security Efforts for the Region

Abu Dhabi, UAE – 13 May 2024: Khalifa Economic Zones Abu Dhabi – KEZAD Group, the largest operator of integrated and purpose-built economic zones, and UAE-based Golden Spike and Wheat today announced the signing of a 50-year land lease agreement for the establishment of a bakery and sweets manufacturing facility in KEZAD. The 26,000 sqm facility in ICAD 3 (KEZAD Musaffah) will have a large production capacity to cater to the requirements of the UAE market. Mohamed Al Khadar Al Ahmed, CEO Khalifa Economic Zones Abu Dhabi – KEZAD Group said: "We welcome Golden Spike and Wheat to KEZAD's growing Food ecosystem. Through KEZAD Group, Abu Dhabi is playing a leading role in the UAE's drive towards achieving No 1 on the Global Food Security Index. The Golden Spike facility would be well positioned to augment ......read more

Abu Dhabi non-oil exports to Poland soars 253% in 2023

Abu Dhabi and Poland Business Forum explores ways of enhancing mutual trade and investment ​Abu Dhabi, 10 May 2024: Abu Dhabi's non-oil exports to Poland have soared 253% in 2023, reflecting success of efforts made by the Abu Dhabi Department of Economic Development (ADDED) to deepen economic relations. This was announced at the 2nd Business Forum between Abu Dhabi and Poland, held in Silesia Region, Poland. The event, which brought together senior government officials and industry leaders from both parties, marked a pivotal moment in bilateral relations, highlighting the strides made to date and the promising opportunities ahead. The forum was attended by H.E. Jakub Chełstowski, Marshal of the Silesia Region, H.E. Jakub Sławek Ambassador of Poland to the UAE, H.E. Mohammed Al Harbi, UAE Ambassador to ......read more

Wings of Change: Climate-action Partnership announced to research solutions for Polar Raptors in a Warming World

Scientists from Boise and Abu Dhabi collaborate to focus on species decline. Abu Dhabi, UAE and Boise, ID, USA (10 May 2024)—The Mohamed bin Zayed Raptor Conservation Fund and The Peregrine Fund have partnered to monitor the responses of raptors to climate change. Scientists are increasingly concerned about the impact warmer temperatures are having on polar raptors. This long-standing partnership between Boise and Abu Dhabi began in 1976 when Dr. Tom Cade met with the late Sheikh Zayed during a World Falconry Conference where they developed a close friendship that was sustained for decades. In 2005, Abu Dhabi supported the establishment of the Sheikh Zayed Heritage Wing at The Archives of Falconry in Boise, providing visitors with a unique insight into the heritage of traditional Arabian falconry deeply entwined with the ......read more

Other Top Stories from Banking and Investments
 
Adnoc Distribution Reports Robust Q1 2024 Growth With 18% Increase In Ebitda…

EBITDA increases by 18% year-on-year to $248 million and net profit rises to $150 million. Year-on-year fuel volumes increase by 17% and non-fuel retail transactions rise by 7%, demonstrating continued momentum across both fuel and non-fuel businesses. • ADNOC Distribution leverages AI-driven digital innovation to drive value and enhance efficiency, employing predictive fuel demand ......read more

Abu Dhabi Fund for Development participates in Arab-DAC Dialogue to enhance development cooperation…

Abu Dhabi, May 8, 2024 – Abu Dhabi Fund for Development (ADFD) participated in the two-day Arab-DAC Dialogue, a crucial platform dedicated to boosting development finance and cooperation to address evolving global challenges. This year’s event aimed to improve the quantity and quality of development finance and cooperation across diverse needs by focusing on two broader ......read more

DIEZ and the Ministry of Investment, Industry, and Trade of the Republic of Uzbekistan Collaborate ...…

Al Zarooni: DIEZ is keen to contribute to strengthening collaboration between the UAE and Uzbekistan Kudratov: Signing the MoU with DIEZ reflects the significance of bolstering relations between the UAE and Uzbekistan The MoU aims to support companies specialized in digital technology and sustainability across the two countries. The visit included a meeting with Uzum’s, ......read more

Americana Restaurants announces Q1 2024 Financial Performance, reports $493.5 million in Revenue…

Revenue of $493.5 million in Q1 24, resulting in Adjusted EBITDA margin of 20.9% Continued restaurant portfolio growth with the opening of 37 new stores in Q1 2024 and 37 new restaurants under construction Persistent focus on optimizing costs and driving revenue opportunities Abu Dhabi and Riyadh, 07 May 2024: Americana Restaurants International PLC (“Americana ......read more

Abu Dhabi Chamber Partners with AIM Congress to Boost Investment Climate in the Capital…

The Congress will discuss the latest developments and strategies related to attracting investments The event allows the private sector to understand the shifts in the global investment landscape and adapting mechanisms The event provides promising opportunities for the business community in Abu Dhabi to build and conclude partnerships and mutual investment with their counterparts from ......read more

Alpha Dhabi records strong first quarter with Revenue of AED 14.2 billion and Net Profit of AED 4.6 ...…

“Alpha Dhabi's significant profitability demonstrates our ability to effectively execute our growth strategy, and it points to ongoing pursuit of excellence.” said, His Excellency Mohamed Thani Alrumaithi, Chairman of Alpha Dhabi Holding. “Overall, our results for the quarter tell a story of continual year on year growth, sending a strong signal about our commitment to vital ......read more

e& reports consolidated revenues of AED 14.2 billion in Q1 2024, up 9 per cent…

Abu Dhabi, 30th April 2024: e& today disclosed its consolidated financial results for Q1 2024, reporting consolidated revenue of AED 14.2 billion, growing 9% year-over-year, while consolidated net profit increased to AED 2.3 billion, a year-over-year growth of 7%. The group’s consolidated EBITDA reached AED 6.4 billion, growing 3% year-over-year, resulting in an EBITDA margin ......read more

The Authority of Social Contribution – Ma'an Launches 9th Social Incubator: Entrepreneurship for ...…

The Ma’an Social Incubator (MSI), is designed to support the next wave of social entrepreneurs through providing funding, networking, mentorship and more.  Entrepreneurship for Social Impact welcomes start-ups which aim to improve the lives of various societal groups to apply to be part of the programme by July 19. Abu Dhabi, UAE, 25 April 2024: The Authority of Social ......read more

Abu Dhabi Businesswomen Council Initiates Strategic Engagements with Eight International Business ...…

The meeting included representatives of chamber and business councils from the US, Canada, Britain, France, Ireland, Pakistan, the Philippines, and the Benelux Union Al Fahim: "We seek to build strategic alliances and cooperation between our counterparts here in Abu Dhabi and the world". Beneski: "We are committed to creating a robust platform that enhances trade and ......read more

Masdar and EGA form alliance to work together on aluminium decarbonisation and growth through ...…

Collaboration will advance sustainable production of aluminium, one of UAE's biggest exports Masdar and EGA will explore international opportunities to power new aluminium production facilities with renewable energy Aluminium plays a major role in the decarbonisation of many industries Abu Dhabi, United Arab Emirates; 17 April 2024: Abu Dhabi Future Energy Company PJSC – ......read more

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