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
- The MoU signings came as part of the Chamber’s participation in Abu Dhabi International Food Exhibition Abu Dhabi, UAE - 8 December 2022: As part of its participation in the first edition of Abu Dhabi International Food Exhibition (ADIFE), the Abu Dhabi Chamber of Commerce and Industry (ADCCI) signed three Memoranda of Understanding (MoUs) with local and regional parties, ......read more
● The Empirical Methods for Natural Language Processing Conference (EMNLP 2022), organized by NYU Abu Dhabi and MBZUAI, will be held, both virtually and in-person, in Abu Dhabi from December 7-11 ● The five-day conference will welcome key leaders from the artificial intelligence industry Abu Dhabi, UAE, December 7, 2022: New York University Abu Dhabi (NYUAD), in ......read more
Creates Abu Dhabi’s Largest Integrated Operators of Staff Accommodations with Combined Equity Value of approximately AED 7 billion Abu Dhabi, UAE – 6 December 2022: AD Ports Group (ADX: ADPORTS) the leading facilitator of trade, logistics, and industry, today announced the merger of KEZAD Communities with Al Eskan Al Jamae LLC (“EAJ”) to ......read more
Abu Dhabi, 05 December 2022: The Abu Dhabi Securities Exchange (ADX) has been awarded by World Business Outlook for ‘Best Trading Securities Exchange - MENA 2022’ and ‘Best Trading Derivatives Exchange – MENA 2022’ for accomplishments since 2021. ADX won the ‘Best Trading Securities Exchange - MENA 2022’ award for reaching a record market ......read more
• Amazon Omics is the latest addition to AWS’s growing AWS for Health suite • It integrates data of individuals with their medical history to deliver more personalized care • The solution uses purpose-built data stores to support large-scale analysis and collaborative research across entire populations Abu Dhabi, UAE – December 5, 2022 : Amazon ......read more
• Expanding their footprint across GCC • Consolidating bilateral relations between India and the UAE • Launch of the Emerging Fund Managers Fellowship for first and second time fund managers globally Standing (L to R) Rajiv Sehgal (Chief Strategy Officer, ADGM), Prashanth Prakash (Founding Partner, Accel Partners & Founding ......read more
H.E. Saeed Al Suwaidi, Managing Director of Abu Dhabi Distribution Company, said: “Half a century ago, seven emirates came together to form a nation driven by a commitment towards progress and innovation. Guided by the vision of the UAE’s exceptional leadership, the country has made great strides in laying the foundation to ensure a safe, secure and prosperous tomorrow for all ......read more
Abu Dhabi, UAE, 24 November 2022: The Abu Dhabi Businesswomen Council received a delegation from the Women’s League of Central Asia (Kyrgyz Republic) to promote the development and diversification of economic and bilateral partnerships between women entrepreneurs in Kyrgyzstan and the United Arab Emirates. The meeting was attended by Her Excellency Asma Al Fahim, Chairwoman of ......read more
November 23, 2022 — With 115 statues in total, including 3 Grand, Ogilvy earned the highly sought-after title of LIA Global Network of the Year. Three of the network’s regions were also awarded as Regional Network of the Year: Asia, South America and Europe. Across EMEA, Ogilvy won 51 statues across six markets, with DAVID Madrid taking home the Regional Agency of the Year ......read more
Collaboration to focus on mapping the full potential for solarisation across KEZAD Group’s built assets Abu Dhabi, UAE – 21 November 2022: Khalifa Economic Zones Abu Dhabi - KEZAD Group, the integrated trade, logistics, and industrial hub of Abu Dhabi and a subsidiary of AD Ports Group, announces an agreement with TotalEnergies Renewables Distributed Generation Middle ......read more
Agreement covers the development and operation of a steel pipe production facility in KEZAD, covering close to 96,000 square metres Abu Dhabi, UAE – 16 November 2022: Leading UAE steel pipe manufacturer and exporter, AJ Steel, has signed an agreement with the integrated trade, logistics, and industrial hub of Abu Dhabi, Khalifa Economic Zones Abu Dhabi - KEZAD Group, for the ......read more
• Q3 Revenue grew by 53% YoY to AED 1,466 million driven by the Maritime and EC&FZ clusters • Q3 EBITDA surged 52% YoY to AED 594 million, implying an EBITDA margin of 40.5% • Q3 Net Profit jumped 77% YoY to AED 334 million • Organic CapEx remained high, with AED 1.6 billion spent in Q3 and AED 4.2 billion for 9M 2022 as per plan • ......read more
Connected Capacity and profits increase, while Tabreed expands its international presence Third quarter saw changes to Foreign Ownership Limits and major new deal signing in Egypt Abu Dhabi, United Arab Emirates – 15 November 2022: Tabreed, the UAE’s leading district cooling provider, yesterday released its consolidated financial results for the first nine months ......read more
The partnership agreement will see Castore Sportswear serve as the Official Apparel Partner to Abu Dhabi Motorsports Management (ADMM) – as well as providing apparel to the award-winning motorsports event team at Yas Marina Circuit from 2023 Yas Marina Circuit, Abu Dhabi, UAE, 11 November, 2022: Abu Dhabi Motorsports Management has today announced an official ......read more
Route Provides Fastest Access to Cities of Jeddah and Port Sudan, Positioning Abu Dhabi’s Khalifa Port as Key Regional Cargo Connection Abu Dhabi, UAE, 10 November 2022: As part of its ongoing expansion of international routes, AD Ports Group’s SAFEEN Feeders has officially launched its UAE-Red Sea service to all customers, with the inclusion of Fujairah Terminals and ......read more
- During a press conference held at Abu Dhabi Chamber, in the presence of the higher committee of the Award Abu Dhabi, UAE, 8 November 2022: The Office of the Sheikh Khalifa Excellence Award, an initiative by Abu Dhabi Chamber of Commerce and Industry, announced today the launch of the 21st cycle of the Award. Registration will be open from November 2022 to 30 June 2023, with the ......read more
7 November 2022 – Abu Dhabi, United Arab Emirates: Abu Dhabi Airports has signed a memorandum of understanding with leading French engineering and operations firm Groupe ADP to explore the potential of Advanced Air Mobility (AAM) in Abu Dhabi, a new concept of air transportation which uses electric vertical take-off and landing (eVTOL) aircraft to move people and cargo. The ......read more
Abu Dhabi, 31 October 2022: Bayanat AI PLC, one of the region’s leading high-growth AI-powered geospatial solutions businesses, has today made its trading debut as the first company to list under the technology sector on the Abu Dhabi Securities Exchange (ADX) after its successful IPO. It is trading under the trading symbol BAYANAT. Abu Dhabi-based Bayanat’s IPO will support the ......read more
Abu Dhabi, UAE, 28 October 2022: Marks an important day for UAE maritime as the region’s first class-built Uncrewed Surface Vessel (USV) entered the water. The 12 m Blue Essence USV was launched at Mugharraq port and sailed to its new home in Al Mirfa, Abu Dhabi, by Fugro’s control and command centre in the UAE. The Al Mirfa port will be the home to the Fugro Pegasus during the ......read more
Strong Demand for Premium LG Home Appliances and Auto Parts Drives Highest Quarterly Revenue in Company History October 28, 2022 – LG Electronics Inc. (LG) announced third-quarter 2022 consolidated revenues of KRW 21.2 trillion, an increase of 14.1 percent from the same quarter last year and the highest quarterly revenue in the history of LG Electronics. Operating profit for the third ......read more
Abu Dhabi, October 26, 2022: ‘Masaood Village Facilities Management’, a division of Al Masaood Group that provides cost effective accommodation and catering solutions, has been recertified for ISO 22000:2018 and rewarded ISO 9001:2015 certification, highlighting its commitment to maintaining the highest performance standards in its operations, including food safety and service ......read more
• Proposed combination of Etihad Engineering, AMMROC and GAL with Abu Dhabi Aviation to create a globally competitive Aviation Services and Maintenance, Repair & Overhaul (MRO) business primed for future growth • Combined operator to capture greater synergies through integrated service offerings to aviation customers at scale with increased access to highly skilled labor, ......read more
Abu Dhabi, UAE – 14 October 2022: The Abu Dhabi Businesswomen Council held its first meeting in 2022, which was led by the Chairwoman of the Council Her Excellency Asma Al Fahim. The meeting addressed the Council’s strategic objectives and creative initiatives for the upcoming period to enhance women’s contribution to the sustainable economic development in the Emirate of Abu ......read more
Abu Dhabi, UAE; Sep 19 2022: International Holding Company (ADX: IHC), the diversified Abu Dhabi-based conglomerate, has announced today a direct acquisition of a 15% stake in Burjeel Holdings, the leading regional private healthcare group, in one of the biggest deals in the Gulf’s healthcare sector in recent years. The acquisition will aim to continue to scale and diversify IHC’s ......read more
Abu Dhabi, United Arab Emirates; 16 September 2022: The CEOs Advisory Council of the UAE Banks Federation, the representative and unified voice of the UAE banks, held its third meeting of 2022 remotely on the 7th of September to discuss developments in the global and local banking and financial sector for the past eight months. The virtual meeting also reviewed the implementation of ......read more
• ADQ monetizes a minority stake in TAQA in line with its strategy of targeting a balanced and diversified portfolio • ADQ remains committed to maintaining a sizeable ownership stake in TAQA • TAQA is a leading utilities firm in EMEA and a key player in driving the UAE's clean transition Abu Dhabi, UAE. 13 September 2022: ADQ, an Abu Dhabi-based ......read more
FTSE ADX Growth Market Index will enable investors to track the performance of the Growth Market ABU DHABI, UAE - 1 September 2022: The Abu Dhabi Securities Exchange (ADX) and FTSE Russell, under their index partnership, have co-developed a new benchmark, the FTSE ADX Growth Market Index (FADGMI) that will track the performance of the ADX’s recently rebranded Growth Market ......read more
Abu Dhabi, UAE – 25 August 2022: Injazat, the UAE’s home-grown technology champion in digital transformation, cloud, and cyber security, today announced winning a digital transformation project for TAQA Group, the recognized low carbon power and water champion from Abu Dhabi that is a top-10 integrated utilities company in the EMEA region. The contract was formalised during a ......read more
Recognised for ‘Achievements in Growth’, ‘Best Digital Process Automation Solution’, ‘Communication Department of the Year’ and ‘Marketing Campaign of the Year’, among other top Awards Abu Dhabi, UAE – 24 August 2022: AD Ports Group, the leading facilitator of global trade, logistics, and industry, has won 17 awards at The ......read more
Abu Dhabi, UAE - 23, August 2022: Emirates Stallions Group (PJSC), UAE’s leading investment, engineering, and construction services business and subsidiary of International Holding Company (IHC), has acquired a substantial amount of shares in two of the UAE indoor spaces design leading companies to expand its business further into indoor spaces design and product ......read more
The session aimed at enhancing the contribution of the national human resources to the private sector Abu Dhabi, UAE - 22 August 2022: The Abu Dhabi Chamber of Commerce and Industry (ADCCI), in cooperation with the Abu Dhabi Department of Economic Development (ADDED), the Emirati Talent Competitiveness Council (NAFIS), and the Ministry of Human Resources and Emiratisation ......read more
AD Ports Group’s Advanced Logistics Hub at KIZAD to bring 80,000m2 of Storage Capacity Abu Dhabi, UAE – 18 August 2022: AD Ports Group, the leading facilitator of global trade, logistics, and industry, has announced that KLP21, its new advanced warehousing and logistics hub in Abu Dhabi, will be available within Q3, 2022. KLP21 is situated in KIZAD, the ......read more
Lenovo delivers ninth straight quarter of improved revenue and profitability and the largest market share in the Gulf at 27.6% Dubai, August 18, 2022– Lenovo Group (HKSE: 992) (ADR: LNVGY) today announced strong first quarter results for the Group, improving both revenue and profitability for the ninth consecutive quarter. First quarter net income grew 11% year-on-year to ......read more
Revenue grew by 35% YoY to AED 1,242 million driven by the Maritime and EC&FZ clusters EBITDA increased by 41% YoY to AED 532 million Net Profit surged 59% YoY to AED 300 million Capex reached AED 1.6 billion, in line with the Group’s capital investment plans to spend more than AED 15 billion across all clusters over the 2022-26 period Net leverage stood at 0.9x, leaving ......read more
• The deal comes as part of IHC’s long-term investment strategy in the clean energy sector. • Kalyon Karapınar Solar Power Plant established on approximately 20 million square meters of land in Konya’s Karapınar district. • This strategic partnership includes some other renewable projects in Turkey. Abu Dhabi, UAE - Aug 11 2022: ......read more
Strong result driven primarily by subsidiary's solid performance and profitable business acquisitions in first half 2022. H1 total revenue touched AED 21.93 billion, an increase of 121% as compared to June 2021. IHC to increase its global investments in 2nd half of 2022 through mega deals and acquisitions. Abu Dhabi, UAE; 08 August 2022: ......read more
• Servomex, a global expert in gas analysis announced its regional operations base at ADAFZ • Servomex will provide the UAE and wider region with specialised gas sector products Abu Dhabi, UAE – 03, August 2022: Abu Dhabi Airports Free Zone (ADAFZ), a wholly owned subsidiary of Abu Dhabi Airports, announced that Servomex, the global ......read more
30+ million TradingView global users to get access to ADX data ABU DHABI, Aug 03, 2022: The Abu Dhabi Securities Exchange (ADX) has signed a new data-sharing partnership with TradingView, a leading financial information portal based in the US, to help attract a new generation of global traders and investors to the exchange. As part of the agreement, ADX ......read more
282 cars delivered in the Middle East Collaboration to focus on enhancing operations of both organisations across the maritime and logistics sectors Abu Dhabi, UAE – August 2, 2022: AD Ports Group, the leading facilitator of trade, logistics, and industry in Abu Dhabi, today announced that it has signed a Memorandum of Understanding (MoU) with Hutchison Ports, the ......read more
• Ghitha profits have grown by 471% compared with Dh14.1m in the same period last year. • The company continued to strengthen and grow its market position through acquisitions and organic growth. • Revenue for Q2 at a record peak of AED 576 million. Abu Dhabi, UAE; 2 August 2022: Ghitha Holding PJSC, the leading regional foodstuff trading and ......read more
Abu Dhabi, August 2, 2022: His Excellency Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, has led a joint delegation by the Ministry of Industry and Advanced Technology (MoIAT) and the Ministry of Defence (MOD) to the Tawazun Industrial Park and the Tawazun Economic Council (Tawazun), the integrated national centre for defense, security, and aviation industries. His ......read more
Abu Dhabi, UAE; 29 July 2022: Alpha Dhabi Holding PJSC (“Alpha Dhabi” or “the Group”), one of the fastest-growing investment holding companies in the UAE, listed on the Abu Dhabi Securities Exchange (ADX: AlphaDhabi), has announced its financial results for the half-year ended 30 June 2022. The Group reported yet another record-breaking set of financials results ......read more
Abu Dhabi-UAE: 28 July 2022 – A team of researchers has analyzed the potential of using methyl methacrylate (MMA) to bond together the structural elements of a boat, as part of the INTERREG 2Seas Mers Zeeën research program. Traditionally, ship components are connected with mechanical fasteners, which add weight and limit the ability to take advantage of new design approaches that use ......read more
Financial results for H1 2022 ABU DHABI, 28 July 2022 – Multiply Group (ADX: Multiply or the “Group”), a technology-focused holding company listed on the Abu Dhabi Securities Exchange (ADX), has reported AED 462 million in net profit for the first half of 2022. The Group's H1 2022 figures show revenue of AED 507 million and gross margin of AED 250 million. Net profit ......read more
Zakher Marine International will train AASTS students on-board its fleet; supporting the Academy’s efforts to provide top-notch practical training to aspiring maritime professionals Sharjah, UAE, 25 July 2022: Students from the Maritime Transport technology department, of the Arab Academy for Science, Technology and Maritime Transport Sharjah Branch (AASTS), will be ......read more
Veppy.com gives the UAE’s small and medium enterprises a great business opportunity to expand by registering and listing their products on the fastest-growing online shopping marketplace that goes live in August this year Date: Dubai, UAE, July 19, 2022 News Highlights: 1. The Q-Commerce market in the Middle East and North Africa (MENA) region is ......read more
The Certification Furthers AD Ports Logistics’ Position as a Global Provider of Specialised Healthcare Business Services Abu Dhabi, UAE – July 19, 2022: AD Ports Logistics (ADPL), a subsidiary of AD Ports Group’s Logistics Cluster, has secured the coveted International ISO Certification for its integrated end-to-end supply chain management services covering ......read more
Abu Dhabi, UAE; 19 July 2022: EasyLease (PJSC), the UAE’s mobility solution leader, and a subsidiary of Abu Dhabi-based International Holding Company (IHC), has acquired 55% of The Captain’s Club, the UAE’s biggest boat club, valuing the total company at AED 70 million. Founded in 2014, The Captain’s Club is a membership-based mobility platform, connecting its members ......read more
July 15, 2022 — LG Electronics Inc. (LG) announced its preliminary earnings results for the second quarter of 2022. LG reported revenues of KRW 19.5 trillion in the second quarter of 2022, 15 percent higher than the same quarter the previous year. Operating profit for the second quarter was KRW 791.7 billion, expected to be 12 percent lower than the same quarter of the previous ......read more
Abu Dhabi, 14 July 2022 – Abu Dhabi Fund for Development (ADFD) and the Abu Dhabi Exports Office (ADEX) signed two loan agreements with the Electricity and Water Authority in Bahrain to finance a water supply network project. Under the agreements, ADFD has committed to provide a loan of AED150.6 million, and ADEX to provide a loan of AED187.32 million. The project aims to ......read more
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