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
Astro Min is a one of the fastest growing shipping & logistics company in GCC & India. We moved to new office & warehouse in KHAWANEEJ, DUBAI, UAE . We also have hubs in KSA, OMAN & INDIA Main Services 1. Providing door to door services in all cities of GCC 2. Best solution for small and medium enterprises wanting to grow their foot print 3. Last mile ......read more
• Yahsat’s Commercial team is exploring ways to take advantage of growing Chinese demand for its Thuraya products, in cooperation with its service partners • The team met with the UAE Ambassador in Beijing to discuss how the Diplomatic Mission can support Yahsat and other UAE companies to expand operations in China • This follows a recent visit by Chinese Embassy ......read more
Abu Dhabi, UAE, August 9, 2023 - PETRONAS and AIQ, an Abu Dhabi-based technology company, have signed a Memorandum of Understanding (MoU) to share experiences in building Artificial Intelligence (AI) solutions that may potentially accelerate the energy transition and drive sustainability across energy operations. AIQ is a technology pioneer focused on driving the transformation of the ......read more
The report captures the progress of DCT’s commitment to delivering on its promise to promote, protect and progress Abu Dhabi Abu Dhabi, UAE – 8th August 2023: The Department of Culture and Tourism - Abu Dhabi (DCT Abu Dhabi) today announced the release of its Annual Report 2022, available to download here. A reflection of DCT’s promise to promote, ......read more
Dubai, UAE, 2nd August 2023: Commercial Bank International (CBI or “the Bank”) has announced its 2023 half-year financial results. Key financial result highlights: - Net profit increased by 44% year-to-date from AED 55 million in H1 2022 to AED 79 million in - H1 2023. - Net operating income increased year-to-date from AED 268 million in H1 2022 ......read more
• The proposed transaction will create a world-class local home-grown platform through a combination of real estate and hospitality assets capable of delivering the highest service and value to Abu Dhabi • The combination would deliver to Q Holding increased scale, revenue diversification, and cost synergies Abu Dhabi, UAE – 2nd August 2023: ADQ, an Abu ......read more
• Six-month financial performance showcases robust revenue at AED 22.1 billion and net profit at AED 10.3 billion, signifying growth of 29% and 30% y-o-y respectively. • Successful investments propel growth across diversified sectors, consolidating Alpha Dhabi’s position as a leading regional investment holding company. Eng. Hamad Al Ameri, CEO of ......read more
Abu Dhabi, UAE –25 July 2023: Louvre Abu Dhabi, the Arab World’s first universal museum, today announced the appointment of seasoned professional Dr. Guilhem André as its Acting Director for Scientific, Curatorial and Collections Management. Dr. André, who previously served as the museum’s Chief Curator, will now oversee and lead Louvre Abu Dhabi’s curatorial strategy, the ......read more
• The company’s revenue showed 18.9% YoY growth, driven by effective operation of seven vessels sailing since 2022 • ASM continued to diversify its portfolio with a significant investment in ADNOC Logistics and Services • Operating income increased by 134.7% YoY to reach AED 53m in H1 2023 Abu Dhabi, UAE 24th July 2023: Al Seer Marine (ADX: ASM), ......read more
Alpha Dhabi's MoU with Limak Group presents an opportunity to broaden its investment portfolio in Turkey. The opportunities include construction and rehabilitation of areas impacted by the earthquake in Turkey. Abu Dhabi, UAE; 20 July 2023: Alpha Dhabi Holding (ADX: ALPHADHABI), one of the fastest-growing investment holding companies in the United Arab ......read more
• ADQ to finance up to USD 8.5 billion of earthquake relief financing bonds to accelerate earthquake reconstruction efforts • Planned export credit facility worth up to USD 3 billion for Turkish companies to boost bilateral trade with the UAE and other markets Abu Dhabi, UAE – 19 July 2023: ADQ, an Abu Dhabi-based investment and holding company, announced two ......read more
Abu Dhabi, July 18, 2023: The Department of Municipalities and Transport has signed a letter of intent to establish Twin City relationships between Abu Dhabi and Beijing, the capital of the friendly People's Republic of China. The signing took place during the official visit by a delegation from the Department of Municipalities and Transport (DMT), headed by His Excellency Mohamed Ali Al ......read more
Khalid Al Kaf, Yahsat’s Chief Operations Officer, accepted the TDRA Partner Recognition Award for the company’s role in developing an advanced satellite communications infrastructure in the UAE Abu Dhabi, UAE, 13 July 2023: The UAE’s flagship satellite solutions provider, Al Yah Satellite Communications Company PJSC (ADX trading symbol: YAHSAT), has been honoured for ......read more
Abu Dhabi, UAE; 12 July 2023: Multiply Group (ADX: MULTIPLY), an Abu Dhabi-based investment holding company, is acquiring a minority interest in Breakwater Energy for AED 367 million ($100 million). This investment comes under Multiply+, the Group’s sector-agnostic arm that is more opportunistic in nature. Through this acquisition, Multiply Group will become part owner of a highly ......read more
Abu Dhabi, UAE, 23 June 2023: The Abu Dhabi Chamber of Commerce and Industry’s (ADCCI) Board of Directors has appointed Ahmed Khalifa Al Qubaisi as the new Chief Executive Officer (CEO), bolstering the chamber’s senior management team and its strategic mission of empowering businesses and enabling the business community to reach its full potential. By employing his long ......read more
Abu Dhabi, UAE, 22 June 2023: The Abu Dhabi National Exhibition Centre (ADNEC), part of the ADNEC Group, has received a prestigious award in the Best Venue category at the Middle East Event Show (MEES) Awards. The MEES awards gather leaders in the MICE and live events industry to honour outstanding individuals, teams, and companies that have conceptualised and delivered the best event experiences ......read more
Al Nakheel Paper Mill produces a 13.2 gsm product at a speed of 2,222 meters per minute for 24 hours – and with an incredible efficiency rate of more than 96% Dubai, UAE – June 19, 2023: Fine Hygienic Holding, one of the world’s leading manufacturers of high-quality hygiene products and the MENA region’s largest paper producer, has made history after setting a new ......read more
Abu Dhabi, 13 June 2023: Abu Dhabi Commercial Bank (ADCB) has been recognised by the UAE government for the Bank’s strong track record in sustainability and social impact, receiving the Impact Seal “Platinum Tier” from Majra, the National CSR Fund. The Impact Seal is the official federal recognition that certifies, measures and rewards organisations in the UAE ......read more
Abu Dhabi, UAE: 13 June, 2023 – EDGE Group entity, AL TAIF, the UAE’s leading provider of maintenance, repair and overhaul (MRO) services for military equipment, today announced the signing of a Memorandum of Understanding (MoU) with Tembo ELV BV (Tembo), a subsidiary of VivoPower International PLC (VivoPower), to jointly collaborate and identify a framework of business opportunities ......read more
Abu Dhabi, June 11, 2023: According to Mrs. Šarūnė Šablevičienė, Agricultural and Commercial Attaché at the Embassy of The Republic of Lithuania to the United Arab Emirates from January to March 2023, the exports of food and agricultural products to the UAE from Lithuania grew by 180%. From January to March 2023, the main exports to the UAE were concentrated ......read more
Abu Dhabi - 8 June 2023: The Abu Dhabi Securities Exchange (ADX) and the Luxembourg Stock Exchange (LuxSE) announced today the signing of a Memorandum of Understanding (MoU) between the two parties. The purpose of the MoU is to establish a framework of cooperation between the two institutions to facilitate the dual listing of a broad range of financial instruments, maximise access ......read more
ABU DHABI, United Arab Emirates, June 8, 2023 – Black Ice AI Inc., a US-based Delaware C Corporation and Presight, a G42 company, and the region’s leader in big data analytics powered by artificial intelligence (“AI”), have signed a strategic MOU to enhance their respective offerings and capabilities for the financial services and the public service sector ......read more
Arabian Gulf Business Insight reveals the top-rated sovereign wealth funds • Fitch, S&P, Moody’s rate Abu Dhabi top in the GCC • Saudi Arabia’s diversification helps score, but may be overinvested • Bahrain and Oman are rated comparatively poor Dubai, United Arab Emirates – 25 May, 2023: Arabian Gulf Business Insight (AGBI), a ......read more
Acquisition will enhance EDGE’s autonomous capabilities and enable access to technology and highly skilled engineers for a wider range of unmanned aerial systems (UAS) Abu Dhabi, UAE: 23 May, 2023 – EDGE, one of the world's fastest growing and leading advanced technology and defence groups, today announced the acquisition of a majority stake in MARS Robotics, a ......read more
PIAP highlights the company’s continuous efforts to pilot initiatives that advance customer communication Dubai, United Arab Emirates: Panasonic Marketing Middle East & Africa (PMMAF) has revealed the successful conclusion of the inaugural edition of the Panasonic Influencer Affiliate Program (PIAP), the company’s latest initiative in which Panasonic partners ......read more
New report unveiled during G20 event in Mumbai Abu Dhabi, United Arab Emirates, 15 May 2023 – The International Renewable Energy Agency (IRENA), in partnership with the Indian G20 Presidency, launched a comprehensive report today on how low-cost finance can accelerate the energy transition. Titled “Low-Cost Energy Transition Finance”, and developed in close ......read more
- Amna Lootah: ‘The visit reflects the confidence of the global business community in the integrated business system of Dubai Integrated Economic Zones.’ - Al Matrooshi: ‘Expanding our strategic partnerships globally contributes to attracting more foreign direct investment.’ Dubai, UAE - 14 May 2023: Dubai Integrated Economic Zones Authority (DIEZ) welcomed ......read more
• Solid revenue increase of 50% in Q1 2023 compared to Q1 2022, driven by positive performance in key segments including real estate, financial services, and marine and dredging. • IHC completed AED 1.8 billion direct acquisitions in Q1 2023. Abu Dhabi, 11 May, 2023: International Holding Company (ADX:IHC), the global diversified Abu Dhabi-based conglomerate, today ......read more
Yahsat delegation held one-on-one and small group meetings with multiple fund managers Abu Dhabi, UAE, 11 May 2023: Al Yah Satellite Communications Company PJSC (“Yahsat” or the “Group”), the UAE’s flagship satellite solutions provider listed on the Abu Dhabi Securities Exchange, (“ADX”, under symbol: YAHSAT, ISIN: AEA007501017), today announced ......read more
Abu Dhabi, UAE, May 9, 2023: AIQ, Abu Dhabi based technology pioneer focused on driving the artificial intelligence (AI) powered transformation of the energy sector, is taking part at the upcoming UAE Climate Tech Forum. The two-day event, set to kick off May 10th at the Abu Dhabi Energy Center, marks the first-ever decarbonization technology conference aimed at empowering organizations ......read more
Abudhabi, UAE, May 9, 2023 – Bayanat, an ADX listed company and leading provider of AI-powered geospatial solutions, will officially commence its participation at the 2023 UAE Climate Tech Forum tomorrow. Hosted by the UAE Ministry of Industry and Advanced Technology (MoIAT) in partnership with ADNOC and Masdar, the UAE Climate Tech Forum is the country’s first-ever decarbonisation ......read more
Abu Dhabi's Robust Economy Continues to Outpace MENA Region retaining competitiveness in 2022 with a growth rate of 9.3% • Abu Dhabi's Q4 2022 GDP grows by 5.9% • Real GDP exceeds AED 1.1 trillion by end of 2022, as per estimates • Non-oil sectors contribute to the real GDP by 50.0% in 2022 • Prominent growth in real estate ......read more
Net income and EBITDA both grew by 35% and 4% respectively year-on-year Abu Dhabi, United Arab Emirates, 8 May 2023: Al Yah Satellite Communications Company PJSC (“Yahsat” or the “Group”), the UAE’s flagship satellite solutions provider listed on the Abu Dhabi Securities Exchange (”ADX”, under symbol: YAHSAT, ISIN: AEA007501017) announced ......read more
Dubai, May 5th, 2023: Abu Dhabi Securities Exchange (ADX) granted BHM Capital Financial Services PSC, a leading investment firm in the UAE’s financial market, the approval to use Omnibus accounts, making it the first financial services company in the UAE to offer this activity to its clients. From his side, Abdel Hadi Al Sa’di, Chief Executive Officer, BHM Capital ......read more
Abu Dhabi, 04 May 2023: Abu Dhabi Securities Exchange (ADX), one of the Middle East’s fastest growing securities exchanges, has successfully completed an Exchange-led roadshow in New York in collaboration with J.P. Morgan, reinforcing the robust international demand for Abu Dhabi listed companies. The two-day Exchange-led roadshow in New York City that ended on May 2 ......read more
Abu Dhabi, UAE – 28 April 2023: The Abu Dhabi Businesswomen Council (ADBWC), a subsidiary of the Abu Dhabi Chamber, today signed a Memorandum of Understanding (MoU) with Flat6Labs, the leading early stage venture capital firm in the Middle East and North Africa (MENA) region. The MoU aims to strengthen cooperation between the two parties to support and enable women entrepreneurs to grow ......read more
Abu Dhabi, April 19, 2023: The Department of Municipalities and Transport (DMT) has completed the decoration of main and secondary streets, public squares, and bridges throughout the Emirate of Abu Dhabi with illuminated shapes and decorative imageries in celebration of Eid Al Fitr. The aim is to bring joy to the community and express happiness in welcoming this cherished occasion. Municipal ......read more
19 April 2023, Abu Dhabi, UAE: 42 Abu Dhabi, the UAE capital’s innovative and disruptive coding school that provides a unique peer-to-peer, gamified learning methodology and BEACON RED, an advanced cyber solutions provider that tackles complex national security threats, have jointly organized a large-scale hackathon that was attended by over 70 Emirati and international students from 42 Abu ......read more
Al Fahim: The appointment of Fatima Helal Al Blooshi is a step forward to support our journey of enabling female entrepreneurs to be a key partner in the Emirate of Abu Dhabi’s sustainable economic development. Abu Dhabi, UAE – 18 April 2023: The Abu Dhabi Businesswomen Council, a subsidiary of the Abu Dhabi Chamber, has appointed Fatima Helal Al Blooshi as a Director of ......read more
Abu Dhabi, 17 April 2023: The Abu Dhabi Securities Exchange (ADX) announced today that it has listed MBME Group PLC, which operates the region’s largest online utility and government services payment platforms. The Group, the first fintech company to list on ADX, made its trading debut on the Growth Market under the trading symbol MBME. This achievement enables MBME Group to expand its ......read more
Abu Dhabi, UAE, 17 April 2023 - Agthia Group PJSC, one of the region's leading food and beverage companies, hosted its Annual General Meeting today, which was attended both, in-person and electronically, by shareholders at the Abu Dhabi Chamber of Commerce and Industry. During the meeting, shareholders accepted the Group's financial results for the year ending 31 December 2022 as well ......read more
Abu Dhabi, United Arab Emirates; 14 April 2023: UAE Banks Federation Board of Directors convened its first meeting for the year 2023 on March 16th under the leadership of His Excellency Abdulaziz Al-Ghurair, Chairman of the Board of Directors of UAE Banks Federation. The Board discussed the latest developments, trends, and challenges in the banking sector, locally and ......read more
MoU provides a framework to enhance capabilities and cooperatively pursue opportunities across the cyber and secure communications domains Abu Dhabi, UAE - 14 April, 2023 – EDGE, one of the world’s leading advanced technology and defence groups, signed a Memorandum of Understanding (MoU) with Kryptus, a Brazilian multinational provider of highly customisable, reliable ......read more
The Society will strive to improve quality of life for people affected by MS, raise awareness and reduce stigma around the disease, and support research efforts to identify better treatments, and ultimately to find a cure for MS Abu Dhabi, UAE, 14 April, 2023: The National Multiple Sclerosis Society (NMSS) launched at an exclusive event in Abu Dhabi, in the presence of leadership ......read more
ABU DHABI, United Arab Emirates, April 13, 2023 – The Ministry of Communication, Telecommunications and Digital Economy of the Republic of Senegal (MCTEN) and Presight AI (ADX: PRESIGHT), a G42 company and the region's leader in big data analytics powered by artificial intelligence ("AI") have signed a Memorandum of Understanding (MOU) to accelerate digital transformation ......read more
From Personalized Digital Therapeutics to Personalized Medicines, Abu Dhabi is Unleashing the Potential of AI for Good Abu Dhabi, UAE, April 7, 2023: Speed, consistency, and cost are the words most used to describe the inherent benefits of AI’s application to healthcare. Still, there is another critical descriptor that is almost always missed out in the discussion – ......read more
DMT Empowers Young Employees with Opportunities for International Engagement and Collaboration Abu Dhabi, 6 April 2023: Ms. Noora Al Sharhan, an EHS -Aviation sector compliance specialist at the Department of Municipalities and Transport (DMT), has recently participated in the International Visitor Leadership Programme (IVLP), which was held recently in Washington, DC. The DMT has ......read more
Abu Dhabi, 06 April 2023 – Zero Two, Abu Dhabi’s leading digital assets infrastructure company, has launched its operations to cater to the rapidly increasing interest in Web3 technology and its ecosystem. With a unique, fully integrated offering in end-to-end digital assets infrastructure solutions, Zero Two aims to become a trusted partner to companies seeking to capitalize on the ......read more
Abu Dhabi, UAE – 03 April 2023: Abu Dhabi Securities Exchange (ADX) has held an Asian non-deal roadshow with key institutional investors and exchanges in Hong Kong and Tokyo to discuss the vibrant UAE investment landscape. The series of meetings, which complement a virtual roadshow held in September-2022, were organised in partnership with Mizuho, included engagement by the ADX senior ......read more
- This comes as part of the Group’s efforts to adopt long-term innovation to achieve continuity and efficiency in operations Abu Dhabi, UAE, 22nd of March 2023: ADNEC Group has been awarded with the BSI Kitemark Innovation Management Certification, which is a prestigious global certification offered by the British Standards Institution (BSI) to organisations that embrace innovation to ......read more
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