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
Record Full-Year 2023 Revenue Increasing 112% YoY EBITDA Rising 23% YoY to AED 2.7 billion and Net Profit 6% YoY to AED 1.4 billion Abu Dhabi, UAE – 14 February 2024: AD Ports Group (ADX: ADPORTS), a leading global facilitator of logistics, industry and trade, today announced its preliminary financial results for the 12 months ending 31st December 2023, reporting ......read more
The 290,000 sqm plant will process battery-grade Lithium for EV vehicles in Abu Dhabi Abu Dhabi, UAE – 13 February 2024: Khalifa Economic Zones Abu Dhabi – KEZAD Group, the largest operator of integrated and purpose-built economic zones, and UAE-based Titan Lithium have announced the signing of a 50-year land lease agreement for the establishment of a state-of-the-art lithium ......read more
EPS of AED 12.36, indicating robust financial health and investor confidence. Preliminary Net profit remains strong at AED 32,748 million. Revenue Soars to AED 60,089 million with strategic acquisitions and performance driving a preliminary 18% YoY increase. Abu Dhabi, 5th February 2024: ABU DHABI, UAE – International Holding Company (IHC), a leading investment ......read more
2, February 2024, Abu Dhabi, UAE: The Abu Dhabi Chamber of Commerce and Industry (ADCCI) announced the launch of the Advocacy Hub initiative, which involves all segments of the private sector, enhancing its engagement and bringing positive change in the business system. The Advocacy Hub aims to support and empower the private sector. It represents an ideal opportunity to facilitate ......read more
250k sqm of Additional Capacity Being Developed on Continued Strong Demand for Industrial and Logistics Facilities in Abu Dhabi Abu Dhabi, UAE – 30 January 2024: Khalifa Economic Zones Abu Dhabi – KEZAD Group, the largest operator of integrated and purpose-built economic zones, today announced that it has commenced the development of warehousing capacity of more than ......read more
• International Golden Group will expand the scope of EDGE’s capabilities as a supplier of defence and service solutions to provide more complete end-to-end offerings to customers Abu Dhabi, UAE: 23 January, 2024 – EDGE Group PJSC (EDGE), one of the world’s leading advanced technology and defence groups, today announced the addition of International Golden ......read more
Date: Dubai, UAE; January 23, 2024 The Financial Freedom for All – a campaign launched by Century Financial in collaboration with the United Nations Principles for Responsible Management Education (PRME) Middle East and the Anti-Poverty Working Group, has garnered the backing of leading corporates, pledging to enroll 10,000 blue-collar workers within the very first month of ......read more
Abu Dhabi, UAE, 9 January 2024: Mubadala Investment Company, the Abu Dhabi sovereign investor, through its issuing entity Mamoura Diversified Global Holding (MDGH) announced the successful secondary listing of its dollar- and dirham-denominated bonds totaling US$4.5 billion and AED 750 million respectively, with a bell ringing ceremony at the Abu Dhabi Securities Exchange (ADX), one of the ......read more
The Facility will Contribute to Abu Dhabi’s Non-Oil Exports, Create 400 Jobs Abu Dhabi, UAE – 29 December 2023: Khalifa Economic Zones Abu Dhabi – KEZAD Group, the largest operator of integrated and purpose-built economic zones, and UAE-based Excel ASTRA Engineering & Construction, a leading construction contractor providing integrated solutions for Energy sector ......read more
- UAE and Congo-Brazzaville non-oil trade increased 5% in 2022 to reach US$2.2 billion and has doubled in H1 2023 over H1 2022. - HE Al Zeyoudi: “We look forward to ushering in this new era of cooperation and to further expanding our presence in Africa as a trusted partner and investor.” - HE Jean-Baptiste: “The strategic partnership agreement with the United Arab Emirates ......read more
20 December 2023 - Abu Dhabi, United Arab Emirates: Abu Dhabi Chamber of Commerce and Industry has launched the Abu Dhabi International Arbitration Centre (arbitrateAD), an international arbitration centre based in Abu Dhabi. From 1 February 2024, the governance structure and arbitration rules of arbitrateAD will replace those of the Abu Dhabi Commercial Conciliation and Arbitration Centre ......read more
The newly opened Centre operated by VFS Global, was inaugurated on 18 December 2023 by Ms. Soumya ZELMAT, Consul of France in Abu Dhabi. France visa applicants can now visit this Centre located at The Mall - World Trade Centre, Khalifa Bin Zayed the 1st Street, which offers enhanced comfort and convenience. All visa applications for France in the United Arab Emirates will be handled at ......read more
Savoye was selected as the automation and technology partner to fully automate the e-commerce Global Distribution Center of iHerb in KSA, first of its kind in the region November 21, 2023: Savoye, a leading global warehouse automation integrator and software publisher in the Middle East, partnered with CJ Logistics, a 3PL services company operating for iHerb, the leading global ......read more
• On track to add 120,000 RT capacity over FY 2023-24, supported by new projects and new connections across existing concessions • Tabreed reports 9% year-on-year growth in consumption volumes • Tabreed maintains ‘Investment Grade’ credit rating from Moody’s & Fitch, demonstrating prudent cash flow management and solid financial position Abu ......read more
• ADGM and MBZUAI signed an MoU to develop AI-based technological tools designed to assist in regulatory compliance tasks within the financial services sector. • The tools will leverage AI to generate insights and information from financial regulations and rules, that can be fed into regulatory decisions and processes. • The tools will be publicly shared, providing the ......read more
Al Ain Allied specialises in end-to-end e-commerce support, from creating seller and ads accounts to implementing strategic digital marketing activities Dubai, United Arab Emirates, November 2023: Al Ain Allied Investment, a pioneer in the digital marketing and online seller accounts consulting space, proudly announces its commitment to revolutionise e-commerce businesses through tailored ......read more
DUBAI, November 2, 2023: The Good Plastic Company, the largest producer in sustainable materials, is proud to announce the exclusive distribution of its revolutionary surface material, Polygood®, into the Middle East with the successful conglomerate Danube Group. Danube Group, a Dubai-based diversified business conglomerate, with its inception in 1993 has established itself as ......read more
• Landmark 11-year shop visit offload agreement broadens Sanad Maintenance, Repair, and Overhaul (MRO) capabilities for LEAP-1A and LEAP-1B engines, a collaboration with GE Aerospace and Safran Aircraft Engines • Sanad invests over AED100 million into its Abu Dhabi facility, enhancing its state-of-the-art engine MRO capabilities • Sanad's state-of-the-art MRO Center spans ......read more
• Q3 FY23 revenue up 11.8% to AED 553.1M compared to AED 494.9M in Q3 FY22 • Q3 FY23 net profit increased 17.5% compared to Q3 FY22, reaching AED 130.5M • Revenue for the first three quarters of FY23 passed AED 1 billion Abu Dhabi, UAE 7th November 2023 – Presight AI Holding PLC (“Presight” or the “Company”), (ADX: PRESIGHT) ......read more
— Revenue growth of 24.8% in YTD-2023 as compared to YTD-2022, driven by positive performance in key segments including real estate and construction, marine and dredging, and services. — Growth in Total Assets to AED 235.6 billion, a 3.3% increase as compared to December 2022. Abu Dhabi, 08 November 2023: International Holding Company (ADX: IHC), the global diversified ......read more
Strong and Profitable Growth Continues During Third Quarter Year-to-date (YTD) reported Group net revenue +10.9% YoY to AED 3.27 billion YTD Group Like-for-like (LFL) revenue +3.5% YoY including Abu Auf in the prior comparable period YTD Group EBITDA +18.0% YoY to AED 465 million with strong growth in profitability from Snacking, Agri and ......read more
High Performance, Strong Profitability Reflect Progress in Advancing Business Portfolio, Accelerating B2B Business and Procuring New Growth Engines 02 November, 2023 — LG Electronics Inc. (LG) today announced third-quarter 2023 consolidated revenue of KRW 20.7 trillion and operating profit of KRW 996.7 billion, both the second highest third-quarter figures in the company’s history. ......read more
Al Qubaisi: The banking sector plays a pivotal role in attracting foreign direct investments and fostering a conducive business environment that promotes diversity, competitiveness, and growth 1 November 2023 - Abu Dhabi, UAE: The Abu Dhabi Chamber of Commerce and Industry (ADCCI) has signed a Memorandum of Understanding with First Abu Dhabi Bank (FAB). The MoU seeks to create a ......read more
Developments expand KEZAD Al Ma’mourah’s footprint along E311 between Abu Dhabi and Dubai Abu Dhabi, 30 October, 2023: Khalifa Economic Zones Abu Dhabi – KEZAD Group, the largest operator of integrated and purpose-built economic zones in the UAE, today announced that infrastructure work at a cost of approximately AED 330 million on the development of Abu Dhabi Food Hub, ......read more
Ethara empowering Emirati youth through Khibrah employment experience programme Part of Ethara’s strategic commitment to talent development in the region Abu Dhabi, UAE, 24 October 2023: Ethara, the region’s leading entertainment, event management and venue operator powerhouse, has today announced the launch of its pioneering programme, Khibrah, which translates to ......read more
• Al Qubaisi: We are committed to strengthening the representation of our national staff and supporting their integration into the private sector’s job market 27 October 2023 - Abu Dhabi, UAE: The Abu Dhabi Chamber of Commerce and Industry (ADCCI) has signed a Memorandum of Understanding with the Department of Government Enablement – Abu Dhabi (DGE). The ......read more
Abu Dhabi, United Arab Emirates – 26 October 2023: Tadweer (Abu Dhabi Waste Management Company) and Abu Dhabi Airports have signed a Memorandum of Understanding (MoU) aimed at exploring progressive waste management practices across the Emirate’s five airports and paving the way for achieving a circular economy. Under the terms of the MoU, Tadweer and Abu Dhabi Airports will ......read more
• The Group reported strong revenue growth of 120% YoY for Q3 2023-YTD. • EBITDA growth of AED 174 MN YoY (Excluding fair value changes in investments) • Ghitha Holding's Q3 results, with revenue of AED 3.3 billion, have significantly increased the Group's overall value. • Ghitha Holding’s total Assets are of AED 7.2 Bn (33% growth from ......read more
Abu Dhabi, 25 October 2023 – Abu Dhabi Commercial Bank PJSC (“ADCB” or the “Bank”) today reported its financial results for the third quarter of 2023 (“Q3’23”). Record quarterly net profit driven by solid momentum in loan growth and increased net interest margin. The UAE economy remains resilient with strong long-term fundamentals and ADCB is ......read more
GPP Expands to Three Times its Size in KEZAD to Move Packaging Lines from Dubai Industrial Park to KEZAD Al Ma’mourah Abu Dhabi, UAE. 24 October, 2023: Khalifa Economic Zones Abu Dhabi - KEZAD Group, the largest operator of integrated and purpose-built economic zones in the UAE, today announced that it has signed a land lease agreement with its client Gulf Printing & Packaging Co ......read more
Service partnership agreement covers vital sectors including government, telemedicine, education, NGOs, oil and gas, and Mobile Network Operators Abu Dhabi, UAE, 23 October 2023 – Al Yah Satellite Communications Company PJSC, the UAE’s flagship satellite solutions provider, listed on the Abu Dhabi Securities Exchange (“ADX” under symbol: YAHSAT), today announced ......read more
Over 8,000 participants, including 1,100 speakers from 160 countries discussed ways of enhancing investment in sustainable development 157 diverse events held during the forum, reaffirming role of international cooperation in shaping a brighter future Abu Dhabi, UAE, 21 October 2023 – The prestigious World Investment Forum (WIF) successfully ......read more
• New ADQ FWD paper highlights the role of sovereign investors in building resilient economies and intergenerational value through broad mandates, co-investments and national champions Abu Dhabi, UAE – 18 October 2023: ADQ, an Abu Dhabi-based investment and holding company, published its latest paper that delves into the dynamic role of sovereign wealth funds in ......read more
United Arab Emirates, 10 October 2023: Emirates Global Aluminium and PT Indonesia Asahan Aluminium (INALUM) today announced the completion of the start-up of five pilot reduction cells at INALUM’s Kuala Tanjung aluminium smelter upgraded with EGA’s technological know-how. The pilot reduction cells are the first step in a larger planned project to upgrade a further 298 pots in ......read more
• Abu Dhabi Airports subsidiary welcomes foreign construction company into its expanding partner ecosystem • MSM Logistics LLC will develop 1 warehouse across 16,500m2 within the Al Falah district • Agreement also includes the leasing of land totalling 28,623 m2 Abu Dhabi, UAE – 04 October 2023: Abu Dhabi Airports Free Zone (ADAFZ), a ......read more
Abu Dhabi Airports Free Zone and MSM Logistics sign AED 85 million warehouse construction project • Abu Dhabi Airports subsidiary welcomes foreign construction company into its expanding partner ecosystem • MSM Logistics LLC will develop 1 warehouse across 16,500m2 within the Al Falah district • Agreement also includes the leasing of land totalling 28,623 ......read more
1. ADAFZ will welcome companies referred by Masdar City Free Zone, offering benefits including zero cost free zone branch licenses and manufacturing space 2. Collaboration will boost strategic partnerships and synergies between free zones and will benefit customers operating in both zones with minimal cost whilst increasing commercial space occupancy levels Abu Dhabi, UAE – ......read more
United Arab Emirates, Abu Dhabi 02 October 2023: The Statistics Centre – Abu Dhabi (SCAD) has announced the Gross Domestic Product (GDP) estimates for the second quarter of 2023, revealing a whopping 12.3% growth of non-oil economy, and a 3.5% increase in the total GDP compared to the same period in 2022, a testament to Abu Dhabi economy’s competitiveness and resilience, enabling ......read more
Five-year partnership with Mubadala Foundation will support multiple DCT Abu Dhabi cultural programmes, initiatives and institutions, including Louvre Abu Dhabi and Zayed National Museum Agreement creates opportunity for knowledge exchange and supports Abu Dhabi’s bold vision to transform the emirate into a global cultural centre Abu Dhabi, UAE – 25 September 2023: The ......read more
- Held under the title "AI See a Solution: Computer Vision Hackathon 2023" - 42 Abu Dhabi students developed an innovative technology which supports individuals with visual impairments Abu Dhabi, UAE, 22 September 2023: 42 Abu Dhabi, the UAE capital’s innovative and disruptive coding school that provides a unique peer-to-peer, gamified learning methodology, held a hackathon ......read more
Panel discussions, workshops and events around our shared humanity, the value of cooperation, and the role of religious teachings in inspiring sustainable and peaceful coexistence Abu Dhabi, UAE, 18 September 2023: The Abrahamic Family House has announced its upcoming programme of panel discussions and events on the themes of peaceful coexistence and the role of faith in ......read more
Abu Dhabi, 14 September 2023: Infracapital, the infrastructure equity investment arm of M&G Plc, has successfully closed a co-investment process in Zenobē, providing the opportunity for a consortium of Infracapital’s strategic LPs, including Mubadala and Pantheon, to invest into a high-quality asset. “This marks a significant milestone for the Infracapital platform as it ......read more
First ever Mubadala Abu Dhabi Sail Grand Prix Presented by Abu Dhabi Sports Council to take place at Mina Zayed, January 13-14, 2024 Abu Dhabi, UAE - September 13, 2023 - Abu Dhabi will host the world’s most exciting racing on water as it gears up for the inaugural Abu Dhabi Sail Grand Prix. Tickets are now on sale to witness the sport’s best athletes representing national ......read more
Abu Dhabi, 11 September 2023: Abu Dhabi National Insurance Company (ADNIC), one of the leading regional multi-line insurance providers for corporates and individuals, has contributed AED 2 million to The Authority of Social Contribution - Ma’an, the Government of Abu Dhabi’s official channel to receive social contributions. The contribution aligns with ADNIC’s efforts ......read more
Valued at AED 225 million, the move positions Multiply Media as a key player in the UAE's media landscape Abu Dhabi, UAE, September 06, 2023: Multiply Group (ADX: MULTIPLY), an Abu Dhabi-based investment holding company, confirmed today the completion of its acquisition of a 55% majority stake in Media 247, a leading outdoor advertising firm in the UAE, for AED 225 million. This strategic ......read more
- This comes as part of the Group’s strategy to propel the growth of the tourism sector in the UAE Abu Dhabi, UAE, 1 September 2023 - ADNEC Group, through its tourism arm Tourism 365, has announced the launch of new charter flight services in the UAE, enhancing travel options for international tourists from multiple destinations while propelling the UAE’s hospitality ......read more
Abu Dhabi, 30 August 2023: The Abu Dhabi Securities Exchange (ADX) has partnered with five of the leading research providers in the UAE to launch the Investment Outlook Report (IOR). Aimed at retail investors, the IOR is intended to educate individual investors on opportunities available on the Exchange and to assist them in making sound investment decisions. The five participating research ......read more
A total of AED 190 billion in green financing was dedicated by 6 major UAE banks Abu Dhabi, United Arab Emirates; 21 August 2023: UAE Banks Federation (UBF), the sole representative and unified voice of banks in the UAE, revealed the remarkable success of the UAE banking and financial sector in developing sustainable banking solutions in line with the UAE's strategy to reduce ......read more
Abu Dhabi, 21 August 2023: Abu Dhabi Securities Exchange (ADX) has partnered with Tawasal SuperApp, a secure multi-purpose messenger and super app, to enable investors to access real-time ADX updates directly within the super app. As part of the partnership, Tawasal users will gain access to a comprehensive range of real-time stock market data provided by ADX. Investors and traders will ......read more
Abu Dhabi: August 15, 2023 – Abu Dhabi Exports Office (ADEX), the export-financing arm of Abu Dhabi Fund for Development (ADFD), has signed an agreement with the Ministry of International Cooperation, Ministry of Finance, and the General Authority for Supply Commodities in Egypt. The agreement entails a revolving financing program valued at US$100 million, with annual renewals planned over ......read more
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