Abu Dhabi, 15 January 2025 Al Hilal Bank, a subsidiary of ADCB Group, has appointed Jamal Al Awadhi as its new Chief Executive Officer to spearhead the Bank’s ambitious growth trajectory and reinforce its position as the UAE’s premier Shariah compliant digital bank. Al Awadhi, a seasoned industry leader and UAE national, brings over 20 years of senior leadership experience across diverse sectors, including financial services, media, information technology, and aviation. Before joining Al Hilal Bank as Deputy CEO in May 2024, he had served as Chief Operating Officer at Wio Bank and Chief Executive Officer at Abu Dhabi Media. Ala'a Eraiqat, Chairman of Al Hilal Bank and Group CEO of ADCB, commented: “I am delighted to welcome Jamal to his new role as CEO of Al Hilal Bank at a time when the Bank is taking bold ......read more
Masdar has acquired Saeta Yield and partnered with Endesa S.A. in Spain UAE's clean energy leader has acquired Saeta, an established renewables platform with an operating portfolio of 745MW of predominantly wind assets, and a 1.6GW development pipeline in Spain and Portugal, for an enterprise value of €1.2 billion Masdar is also partnering with Endesa in Spain in a portfolio of over 2GW of solar assets and aims to add 0.5GW of battery storage, acquiring 49.99% for an enterprise value of €817 million for this stake Landmark deals expand Masdar's portfolio in Iberian Peninsula and Europe, as company targets global capacity of 100GW by 2030 Partnership with Endesa S.A. includes regulated renewable assets and long-term power purchase agreements under which Endesa S.A. through a subsidiary, will acquire 100 ......read more
VinFast is setting a new standard for sustainable innovation in the electric vehicle (EV) industry. By prioritizing long-term environmental impact over short-term gains, VinFast is actively addressing the challenges of battery disposal and reuse, positioning itself as a leader in the circular economy. As the world transitions to EVs, opportunities to enhance sustainability continue to emerge. While EVs are widely recognized as a solution to global warming, the industry is actively addressing areas for improvement, particularly in the lifecycle management of EV batteries. In this evolving landscape, the Nasdaq-listed VinFast is carving out a distinctive role—not just as a carmaker but as a forward-thinking leader dedicated to advancing sustainability. This dedication to sustainability is evident in VinFast’s partnership ......read more
Abu Dhabi, UAE – December 5, 2024 – Mubadala Investment Company, the Abu Dhabi-based investment company, announced its agreement to purchase a minority stake in Zelis, a leading provider of healthcare technology solutions in the United States. Mubadala Investment Company is the lead investor, alongside a group of investors including Norwest and HarbourVest. Parthenon and Bain Capital remain the majority owners of Zelis. “We are delighted to announce our investment in Zelis, a company whose thoughtful and integrated approach to healthcare payments sets it apart from its peers. Zelis is helping to streamline the US healthcare financial experience which is complex and in need of technology-driven solutions that can unlock efficiencies and create better outcomes for everyone engaged in the care journey,” said Mina ......read more
November 18-19, 2024 | JOCIC Park, KEZAD, Abu Dhabi, UAE Abu Dhabi witnessed a landmark event today with the official opening of the 2nd Chinese Industrial Products Exhibition (CIPE 2024) at JOCIC Park, KEZAD. This premier event, a testament to four decades of China-UAE economic partnership, brought together innovators, investors, and policymakers to chart a new course for industrial collaboration. The opening ceremony, organized by JOCIC and supported by ADDED, Abu Dhabi Customs, ADIO, Abu Dhabi Chamber, KEZAD Group, and ADSM, welcomed distinguished delegations from both nations. “This exhibition reflects the deep friendship and shared vision between our two countries,” said Zou Yonggang, Chairman of JOCIC. “With nearly 90 enterprises showcasing their expertise, it underscores our commitment to advancing ......read more
New customer connections in four countries: UAE, India, Egypt and Oman Company committed to maintaining 'Investment Grade' credit rating Abu Dhabi, United Arab Emirates—15 November 2024: Tabreed, the UAE's leading international district cooling company, has released its consolidated financial results for the first nine months of 2024. Tabreed has experienced a 6% year-on-year rise in consumption volumes during 9M 2024, helping normalised net profit before tax to also increase by 4% to AED 462 million. During the first nine months period, the company delivered consistent growth, maintained resilient profitability margins and further strengthened its financial position. Group revenue increased to AED 1.85 billion in 9M 2024, driven by growth in consumption and 29,000 Refrigeration Tons (RT) of new connections ......read more
Abu Dhabi, 13 November 2024: Investcorp Capital plc (the "Company" or "Investcorp Capital") (ADX symbol: "ICAP"), an investor in private markets and a provider of capital and capital financing services in the alternative investments space, is pleased to announce its first quarter results for the fiscal year 2025 ended 30 September 2024. Highlights: Net profit of $12 million. Capital Financing Services witnessed an increase in activity compared to the same period in the previous fiscal year, with $90 million deployed across asset classes and $151 million of realized Capital Financing Services exposure. Healthy balance sheet with a diversified portfolio of assets and 68% invested in yield-generating assets. Steady gross operating income of $20 million versus total operating ......read more
Net profit up 145% year-on-year due to strong operational performance and strategic expansion Third quarter revenues reached AED 3.975 billion, up 110% year-on-year Abu Dhabi, UAE; 23 October 2024: NMDC Energy JCSJ (ADX: NMDCENR), a majority-owned subsidiary of NMDC Group (ADX: NMDC), has reported strong third quarter financial results in its first earnings announcement since its recent initial public offering (IPO). NMDC Energy delivered a 145% year-on-year increase in net profit for the three months ending 30 September 2024, from AED 164 million to AED 402 million, driven by strong operational performance and strategic expansion into new projects. Revenues soared to AED 3.975 billion, up 110% from the corresponding period of 2023. The company achieved record growth rates in net profits in the nine-month period ......read more
"KZ Media" is a comprehensive platform specialised in visual content production and brand management to enable companies to reach new horizons Abu Dhabi, United Arab Emirates – 03 October 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, has announced the launch of a new business initiative dedicated to media services. The new entity, KZ Media is designed to be a full-service media outlet with a portfolio of offerings that will meaningfully cater to clients' photography and videography requirements. The new company will provide KEZAD Group clients with comprehensive media production services to meet their requirements of visual content, photography and videography, as well as aerial ......read more
24 September 2024 – Abu Dhabi, United Arab Emirates: Global Aerospace Summit, a premier forum spearheaded by CEO’s bringing together the world's aerospace supply chain, is set to drive greater sustainability, youth engagement, and innovation across the industry. The Summit, taking place from 25 to 26 September in the UAE capital, has grown in stature and significance to become the premier platform for high-level dialogue and strategic insights for the industry. This long-standing event, currently in its seventh edition, continues to bring together the brightest minds and cutting-edge solutions in the aerospace, space and defence sectors consistently attracting government officials, industry CEOs, and leading academics dedicated to advancing the sectors around the world. Sponsors and participants at ......read more
Longer debt maturities at low margin positions the Group to benefit from declining interest rates Lower spreads will yield up to AED 44 million in savings over the next 12 months Abu Dhabi, UAE – 20 September 2024: AD Ports Group, a leading facilitator of global trade, logistics and industry (ADX: ADPORTS), has signed agreements with two UAE banks to refinance its syndicated loan of USD 2.25 billion at more favourable terms, which would enable the Group to save up to AED 44 million (USD 12 million) in finance costs over the next 12 months. The new facilities will give the Group flexibility to optimally time its return to the debt capital markets in line with its stated strategy to utilise bonds as the predominant long-term funding vehicle. Under the agreements, the Group's USD 2.25 billion syndicated loan obtained in ......read more
66% reduction in Scope 1 and 2 greenhouse gas emissions Pledge to plant 700,000 mangroves in the UAE by 2030 Abu Dhabi, 18 September 2024 – Mubadala Energy, the Abu Dhabi headquartered international energy company, has today announced significant progress across key Environmental Social and Governance (ESG) drivers, including a two thirds reduction in Scope 1 and 2 greenhouse gas (GHG) emissions from 2022. Launching its 2023 report, the company also noted a near halving of energy consumption across its operated portfolio, marking a major acceleration in efforts to decarbonize the business. In line with the company's strategy to support the energy transition, Mubadala Energy's gas weighting increased from 66% in 2022 to 69% in 2023. As a far less carbon intensive fuel, gas plays a key role in enabling a ......read more
04 September 2024, Abu Dhabi: The Abu Dhabi Department of Energy (DoE) has launched a series of initiatives aimed at promoting sustainability and conservation efforts among Abu Dhabi’s next generation. Through awareness programs in schools and households, the DoE is promoting a more sustainable future as Abu Dhabi advances its efforts toward achieving the UAE's 2050 net zero goals. Education is crucial for shaping a sustainable future and is a key focus for the DoE. The Abu Dhabi Demand Side Management and Energy Rationalization Strategy 2030 aims to reduce electricity consumption by 22% and water consumption by 32% by 2030, with several programs managed by various entities and overseen by the DoE. As part of this Strategy, the Behavioural Change program is a key enabler to enhance policy effectiveness, promote energy and ......read more
Acquisition expands TAQA’s portfolio, further strengthening its capabilities to deliver high-quality water treatment solutions Integration of SWS Holding adds significant asset value and further enhances TAQA’s predictable cashflow profile and earnings 04 September 2024, Abu Dhabi, UAE: Abu Dhabi National Energy Company PJSC (“TAQA”), one of the largest listed integrated utilities in Europe, Middle East and Africa, today announced the completion of its agreement to acquire Sustainable Water Solutions Holding Company (“SWS Holding”). TAQA has finalised the acquisition of all outstanding shares of SWS Holding for AED 1.7 billion. SWS Holding owns Abu Dhabi Sustainable Water Solutions Company (“ADSWS”), which was established in 2005, and is the sole entity responsible for wastewater ......read more
The new solution, provided by Noatum Logistics, inaugurated with new rail shuttle service connecting Khalifa Port and Fujairah Terminals Abu Dhabi, UAE – 03 September 2024: Noatum Logistics, an AD Ports Group company and a leading logistics provider serving the globe across all major markets and trade lanes, announced today the launch of its new rail logistics solution for the Middle East region. The new offering, which complements Noatum Logistics' integrated regional portfolio of freight forwarding products leveraging land, sea, and air transport, was inaugurated with the launch of its first rail shuttle service between Khalifa Port and Fujairah Terminals. The shuttle service, which uses the UAE's national railway developed and operated by Etihad Rail, aims to add significant capacity to the regional logistics ......read more
Abdulnasser Bin Kalban, Chief Executive Officer of Emirates Global Aluminium: "EGA continues to deliver competitive financial performance throughout the economic cycle, through our focus on operational excellence, controlling our costs, and our long-term commercial relationships with our global customers. "The first half of 2024 saw our acquisition of Leichtmetall and progress in the development of our recycling plant in the UAE, important first steps in our strategy to grow EGA to meet expanding global demand for low carbon primary and recycled aluminium over the decades ahead. I look forward to further steps before the end of the year." Financial highlights of H1 2024 Adjusted EBITDA of AED 4.20 billion ($1.14 billion), compared to AED 4.15 billion ($1.13 billion) in H1 2023. Net profit of AED ......read more
AD Ports Group was ranked the world's 19th largest container port operator, leveraging its 2023 acquisition of Spain-based Noatum Inclusion in the new 2024/2025 ranking by Drewry, publisher of an authoritative annual comparison of world container ports, reflects AD Ports Group's growing importance AD Ports Group was also included for the first time in the Drewry Port Equity Index, a benchmark global stock index of 10 large publicly traded ports operators Abu Dhabi, UAE – 29 August 2024: AD Ports Group (ADX: ADPORTS), the leading facilitator of global trade, logistics, and industry in the Arabian Gulf and Red Sea, has climbed for the first time into the global top 20 ranks of world port operators in a new industry survey. The insertion of AD Ports Group at 19th place globally by Drewry, a UK firm that ......read more
The 40,000 sqm plant will cater to the needs of the oil and gas, defence and locomotive industries Abu Dhabi, United Arab Emirates – 28 August 2024: Khalifa Economic Zones Abu Dhabi – KEZAD Group, the largest operator of integrated and purpose-built economic zones and UAE-based Apex Engineering Industries have announced the signing of a 50-year land lease agreement for the establishment of a state-of-the-art facility in KEZAD Area A – Al Ma'mourah. To be developed with AED 90 million in investment by Apex Engineering, the plant will produce industrial parts, components, machinery and equipment for the oil and gas, locomotive and defence industries. Spanning over 40,000 square metres, the facility will use advanced engineering for the design and development of innovative systems to serve the above sectors. ......read more
The 27,000 sqm plant will manufacture solar panels and photovoltaic modules to generate clean and renewable energy Abu Dhabi, United Arab Emirates – 27 August 2024: Khalifa Economic Zones Abu Dhabi – KEZAD Group, the largest operator of integrated and purpose-built economic zones and UAE-based Abundance Solar Panels Industries have announced the signing of a 50-year land lease agreement for the establishment of a sophisticated solar panel plant in KEZAD Area A – Al Ma'mourah. To be developed with AED 55 million in investment, the plant will manufacture solar panels and integrated photovoltaic modules for businesses across industries looking to move to energy-efficient ecosystems. Spanning over 27,000 square meters, the plant represents another landmark moment in KEZAD's history of facilitating the ......read more
Key Highlights: Achieved net profit of AED 1.6 billion while assets grew by 2% year-on-year. Reported 6% decline in revenue to AED 16.7 billion and 2% decline in EBITDA to AED 2.1 billion in H1 2024, affected by ongoing regional geopolitical conflicts and FX devaluations. At constant currency rates, Group revenue declined by 3%, EBITDA increased by 1% and net profit increased by 1%. Majid Al Futtaim – Properties recorded 9% year-on-year increase in revenue to AED 3.7 billion and 11% growth in EBITDA. Launched its second residential project in Dubai, Ghaf Woods, which sold out its first phase within one week. Majid Al Futtaim – Retail registered an 11% drop in year-on-year revenue to AED 11.6 billion while its Retail Digital business delivered strong growth with revenue increasing by 16% and EBITDA growing 109% ......read more
Emirate will be a major sales hub in the region and potential future manufacturing base ABU DHABI --- Aug., 27, 2024 – Loop Global Inc, a U.S.-based turnkey provider of EV charging solutions, announced the opening of its regional office in Abu Dhabi, which will showcase Loop’s innovative charging technology and serve as the base for sales and distribution in the broader region. “Our aim is to be the UAE’s No. 1 EV charging provider and to use Abu Dhabi as a base for our regional expansion,” said Loop CEO Olga Shevorenkova. “We will look to recruit and hire locally as well as look down the road at opportunities to bring manufacturing and R&D activities to Abu Dhabi, which would allow it to become an integrated center of excellence for Loop.” Loop President and Co-Founder Zack Martin ......read more
Abu Dhabi – 26 August 2024: Mubadala Investment Company (“Mubadala”), the Abu Dhabi based global investment company announced today that in partnership with CBC Group, Asia's largest healthcare-dedicated asset management group, it has acquired 100% ownership in the carve-out of UCB Pharma’s mature business in China. UCB, a global biopharmaceutical company headquartered in Belgium, occupies a market-leading position in the strong and expanding immunology, neurology and rare disease market in China, and is strategically poised for growth in its Central Nervous System (CNS) originator drug portfolio. The scope of this acquisition includes UCB’s neurology portfolio (Keppra®, Vimpat®, Neupro®) and allergy portfolio (Zyrtec®, Xyzal®) in Mainland China, as well as UCB’s Zhuhai ......read more
Abu Dhabi, August 21, 2024: Mubadala Investment Company (“Mubadala”), the Abu Dhabi sovereign investor, today announced its investment in Yondr Group, a leading global hyperscale data center developer, alongside Apollo via an existing investment from Apollo-managed funds. Yondr, headquartered in London, is a global developer, owner, and operator of hyperscale data centers. The company provides scalable data center infrastructure for major blue chip technology players and has a contracted and reserved capacity of 878MW, with 58MW currently operational. Mubadala’s investment will support Yondr’s ambitious growth strategy, which has been developed in line with the rapid demand growth for hyperscale data centers. Global cumulative data center demand is expected to grow at an 11% Compound Annual Growth Rate ......read more
ADNEC Centre Abu Dhabi has launched an AI-driven energy optimisation project to reduce greenhouse gas (GHG) emissions and operational costs. Capital Events received re-certification for event sustainability management under ISO 20121, focusing on the TerraTile project for recycling event waste. ADNEC hotels has implemented WasteMaster technology, processing approximately 4,000 kg of food waste daily to significantly reduce its carbon footprint. In 2023, ADNEC Group’s waste management efforts resulted in a 53% recycling rate, an improvement from 49% in 2022. Abu Dhabi, UAE – 20 August 2024 – ADNEC Group announces the launch of its ESG Report 2023, a comprehensive reflection of the group’s consistent commitment to sustainability, ethical practices, and social responsibility across its seven key ......read more
Net income of AED 4.4 billion for H1 2024, a 12.3% increase on prior year, excluding one-off items Revenue up 2% on same period last year to AED 27.2 billion. Adjusted EBITDA 4% up on same period last year to AED 10.9 billion Abu Dhabi, UAE – 14 August 2024: Abu Dhabi National Energy Company PJSC (“TAQA” or “the Group”), one of the largest listed integrated utilities companies in Europe, the Middle East and Africa, reported its earnings for the period ending 30 June 2024. TAQA delivered solid financial results, supported by stable returns from its Transmission & Distribution business and further strengthened by the contribution from Sustainable Water Solutions Holding Company PJSC (SWS Holding). Financial highlights Group revenues were AED 27.2 billion, 2.0% ......read more
Rising year-on-year consumption volumes driving increased profits and improved EBITDA Company strengthens financial position through prudent capital allocation, including repurchasing of Sukuk and increasing cash dividends Appointment of Dr. Bakheet Al Katheeri as Chairman, along with new Board member Mansoor Mohamed Al Hamed Abu Dhabi, United Arab Emirates – 9 August 2024: Tabreed, the UAE’s leading international district cooling company, has released its consolidated financial results for the first six months of 2024 and announced changes to its Board of Directors. The results demonstrate exceptional financial health driven by business growth, sustained profitability margins and a commitment to sound financial discipline. Tabreed experienced an 8% year-on-year surge ......read more
Presight reports H1 2024 results demonstrating year-on-year increase in revenue and profitability underpinned by multi-year contracts, favorable deployment mix and AIQ contribution Abu Dhabi, UAE 5 August 2024 – Presight AI Holding PLC ("Presight" or the "Company"), (ADX: PRESIGHT) today announced first half results for the six months to 30th June 2024, with strong growth in year-on-year revenue and profitability, underpinned by multi-year contracts, positive deployment mix, and the contribution from AIQ. Presight's H1 2024 revenue grew 17.4% year-on-year, to reach AED 603.5 million, more than twice the level of revenue growth achieved in the same period last year. Q2 2024 revenue increased by 18.7% year-on-year to AED 341.4 million. EBITDA (Earnings Before Interest, Tax, Depreciation, and ......read more
Abu Dhabi, 30 July 2024: The Abu Dhabi Business Centre at the Abu Dhabi Department of Economic Development (ADDED) announced the addition of 12 new economic activities to the Tajer Abu Dhabi (Abu Dhabi Trader) license, allowing investors to obtain economic license without the need to work from a physical location or to pay rent on commercial space for three years. With a growing demand for new economic activities, ADDED is empowering entrepreneurs to ensure they can benefit from the wide array of opportunities in Abu Dhabi’s vibrant economy by facilitating ease of establishing and doing business. 3 years Without the need to work from a physical location 23% Percentage of Tajer ......read more
In line with the objectives of the National Strategy for Industry and Advanced Technology and the requirements of the circular economy and green industries Abu Dhabi, UAE: 29 July 2024 – Arabian Gulf Steel Industries LLC (AGSI), the national company specialized in manufacturing sustainable steel based in Abu Dhabi, announced achieving “Net Zero” at its steel plant in Abu Dhabi. This commitment is part of the company’s strategy to enhance environmental responsibility and sustainable manufacturing. The company’s efforts align with the objectives of the National Strategy for Industry and Advanced Technology, particularly in promoting innovation and adopting advanced technology in industrial systems and solutions. This initiative also supports the strategic goal of achieving net zero by 2050, circular ......read more
Company Sets New Records for Second Quarter Revenue and Operating Profit Through Balanced Qualitative Growth in Core and Future Businesses Dubai, July 26, 2024 — LG Electronics Inc. (LG) today announced second-quarter 2024 consolidated revenue of KRW 21.69 trillion and operating profit of KRW 1.20 trillion, reflecting an 8.5 percent year-over-year increase in revenue and a 61.2 percent surge in operating profit. These figures mark new records for the highest second-quarter revenue and operating profit in the company’s history. Key drivers of this performance include the home appliance and vehicle component sectors, both achieving their highest quarterly revenues to date. Sales from LG’s Home Appliance & Air Solution Company and Vehicle component Solutions Company combined reached KRW 11.53 trillion, up 8.2 ......read more
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
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
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
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
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
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
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
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
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, 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
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 ......read more
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 ......read more
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 ......read more
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 ......read more
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 ......read more
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 ......read more
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, ......read more
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 ......read more
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 ......read more
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 ......read more
Board approves $65 million interim cash dividends. Q1 2024 (Million USD) Q1 2023 Carved out (Million ......read more
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 ......read more
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 ......read more
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 ......read more
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 ......read more
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 ......read more
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 ......read more
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 ......read more
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 ......read more
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 ......read more
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, 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
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
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
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'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
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 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
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
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
TerraTiles are made from recycled materials and are manufactured locally Each TerraTile is the equivalent of 5.12 kg of recycled waste The initiative forms part of ADNEC Group’s commitment to net-zero events UAE, Abu Dhabi 16, April 2024 : ADNEC Group has partnered with Terrax Environmental Limited at the World Future Energy Summit (WFES) to develop TerraTile, a 100% recycled ......read more
Al Qubaisi: Our participation in the summit aligns with our enduring dedication to driving both national and global trends aimed at promoting the launch of sustainability initiatives to advance the comprehensive development process witnessed in the UAE, and to encouraging businesses to contribute directly to addressing the repercussions of climate change. 15 April 2024, Abu Dhabi, UAE: ......read more
Abu Dhabi, April 7, 2024: The Abu Dhabi Businesswomen Council, a subsidiary of the Abu Dhabi Chamber of Commerce and Industry, organized a Ramadan Suhoor event that brought together businesswomen in the Emirate of Abu Dhabi, and highlighted the diverse talents and skills of female entrepreneurs in various fields and sectors. Each touchpoint and experience as part of the Suhoor was in ......read more
5 April 2024, Abu Dhabi, UAE: The Abu Dhabi Chamber of Commerce and Industry (ADCCI) announced the establishment of 54 working groups within the Advocacy Hub initiative, as part of the efforts to support the growth and prosperity of the private sector by providing an ideal platform that encourages businesses within Abu Dhabi to discuss the challenges facing various sectors and explore innovative ......read more
Report outlines a year of intelligent internationalisation, entering new markets and completing major acquisitions Abu Dhabi, UAE – 1 April 2024: AD Ports Group (ADX: ADPORTS), a leading facilitator of global trade, logistics, and industry, today issued its 2023 Annual Report. The report highlights significant achievements for the Group that expanded its international footprint ......read more
UAE and Kenya sign Investment Memorandum to advance digital infrastructure and AI initiatives His Excellency Mohamed Hassan Alsuwaidi: “This memorandum is set to accelerate the development of a sector that has the potential to become a growth driver for other industries” Abu Dhabi, UAE, 29th March 2024 – The Ministry of Investment of the UAE and the Ministry of ......read more
28 March 2024, Abu Dhabi, UAE: The Abu Dhabi Chamber of Commerce and Industry (ADCCI) announced the establishment of a working group for startups and small and medium-sized Enterprises (SMEs), which will represent the interests of startups and SMEs registered in Abu Dhabi. This is a strategic step that seeks to achieve the Abu Dhabi Chamber’s vision of making the Emirate the first choice ......read more
Shareholders approve H2 2023 dividend of AED1.285 billion (10.285 fils per share), bringing 2023 total dividend to AED2.57 billion (20.57 fils per share) ADNOC Distribution has provided shareholders with a 90% return on their investment since its initial public offering in 2017 New five-year dividend policy sets annual dividend of $700 million or a minimum of 75% of net profit, ......read more
Dubai – March 28, 2024: Mr. Abdul Jebbar P. B., Founder and Group Managing Director of Hotpack Global, the UAE-based global leader in packaging products, has been appointed as the Founding Vice Chairman of the Paper and Tissue Business Group under the esteemed Dubai Chamber of Commerce, says a press statement issued by the company. Mr. Jebbar's appointment comes as a result of ......read more
Al Qubaisi: The agreement comes in alignment with our ongoing endeavor to extend bridges of cooperation with investors worldwide, fulfill their aspirations, and provide them with more investment opportunities, enabling them to thrive locally and internationally Al Jarwan: We are keen to extend bridges of cooperation and forging strategic partnerships that contribute to promoting the ......read more
Facility on 116,000 sqm land will recycle scrap metal into high-quality special steel products Abu Dhabi, UAE – 27 March 2024: Khalifa Economic Zones Abu Dhabi – KEZAD Group, the largest operator of integrated and purpose-built economic zones, and UAE-based Green Metal Industries today announced the signing of an agreement for the establishment of a new special steel recycling and ......read more
This marks Mubadala’s first investment in the financial services sector in India The deal is part of Mubadala's larger vision of growing its exposure in Asia Abu Dhabi, March 26, 2024: Mubadala Investment Company (“Mubadala”), the Abu Dhabi based investment company announced today that it is investing in Avanse Financial Services Ltd. (Avanse), India’s new age, ......read more
In a pioneering first initiative, the ADX-Eureeca collaboration will offer international investors compliant and user-friendly access to ADX IPOs. This endeavor aims to enhance international investor engagement on ADX whilst also expanding Eureeca's offerings by including ADX IPOs. ADX's collaboration with Eureeca capitalises on the Exchange’s robust e-IPO investor ......read more
Collaboration Agreement aims to establish comprehensive cooperation between the two sides on procedures for registering and licensing free zone companies and Chamber membership Al Qubaisi: We seek to enhance the Chamber's contribution to advancing sustainable development in Abu Dhabi and achieving economic diversification strategies ADCCI supports the private business community in its ......read more
Sam Force Will Develop and Operate Two Centres in KEZAD to Enhance Community Lifestyle and Amenity Offering Abu Dhabi, UAE – 27 February 2024: Khalifa Economic Zones Abu Dhabi – KEZAD Group, a leader in the development of integrated and purpose-built economic zones, today announced two land lease agreements with Sam Force Trading, a renowned developer and operator of real ......read more
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 ......read more
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, ......read more
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 ......read more
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 ......read more
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 ......read more
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