Latest from Banking, Investments, Money, Insurance, Futures, Stock in Abu Dhabi and UAE and Middle East

Banking, Investments, Money and Insurance

Official Opening of the 2nd Chinese Industrial Products Exhibition 2024 Marks a New Milestone in Chi ...

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 ......Read More

Tuesday, November 19, 2024

Tabreed Releases Financial Results for 9M 2024, with Increased Revenues and Strengthened EBITDA

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 ......Read More

Friday, November 15, 2024

Investcorp Capital Delivers Positive First Quarter 2025 Results

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 ......Read More

Thursday, November 14, 2024

NMDC Energy announces strong third quarter net profit of AED 402 million following successful IPO

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 ......Read More

Thursday, October 24, 2024
KEZAD Group Launches Media Production Company, KZ Media

"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 ......Read More

Thursday, October 3, 2024

Investments in the future of aerospace and space set to be showcased at the Global Aerospace Summit

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 ......Read More

Wednesday, September 25, 2024

AD Ports Group Signs Agreements to Refinance USD 2.25 Billion Debt, Cutting Future Borrowing Costs

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 ......Read More

Friday, September 20, 2024

Mubadala Energy's 2023 Sustainability Report Heralds Major Strides in Decarbonization Journey

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 ......Read More

Wednesday, September 18, 2024
Department of Energy's Initiatives Promote Sustainability and Conservation to the Next Generation

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 ......Read More

Wednesday, September 4, 2024

TAQA Completes Acquisition of SWS Holding

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 ......Read More

Wednesday, September 4, 2024

AD Ports Group Fast-Tracks Land Transport in the Middle East with a New Rail Logistics Offering via ...

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 ......Read More

Tuesday, September 3, 2024

EGA posts solid first-half financial performance amid sustained demand for 'premium aluminium'

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 ......Read More

Friday, August 30, 2024
Noatum Acquisition Propels AD Ports Group into Global Top 20 of Container Port Operators in New Indu ...

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 ......Read More

Thursday, August 29, 2024

Apex Engineering Industries to Set Up their AED 90 million Plant in KEZAD

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 ......Read More

Wednesday, August 28, 2024

Abundance Solar Panel Industries to Establish AED 55 million Solar Panel Plant in KEZAD

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 ......Read More

Tuesday, August 27, 2024

Majid Al Futtaim Announces Half Year Financial Results

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 ......Read More

Tuesday, August 27, 2024
Leading EV-Charging Player Loop Global Establishes Presence in Abu Dhabi

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 ......Read More

Tuesday, August 27, 2024

Mubadala Co-Invests in UCB's Mature Business in China to Reinforce Its Long-Term Commitment to the A ...

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 ......Read More

Monday, August 26, 2024

Mubadala invests in leading global hyperscale data center developer Yondr Group

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, ......Read More

Wednesday, August 21, 2024

ADNEC Group unveils ESG Report 2023: Leading the charge in sustainability across all sectors

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 ......Read More

Tuesday, August 20, 2024
TAQA Group Reports AED 4.4 billion Net Income for H1 2024

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 ......Read More

Wednesday, August 14, 2024

Tabreed's Financial Results for H1 2024 show Company Reaping the Rewards of Investment

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 ......Read More

Friday, August 9, 2024

Presight shows strong revenue and profit growth in H1 2024 financial results

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 ......Read More

Tuesday, August 6, 2024

Tajer Abu Dhabi introduces 12 new activities to facilitate establishing and doing businesses

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 ......Read More

Tuesday, July 30, 2024
Arabian Gulf Steel Industries Achieves Net Zero at its Facility in Abu Dhabi

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 ......Read More

Monday, July 29, 2024

LG Releases Second-Quarter 2024 Financial Results

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 ......Read More

Friday, July 26, 2024

I Squared announces new shareholders in Transportation Equipment Network ("TEN") the leadi ...

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 ......Read More

Tuesday, July 16, 2024

KEZAD Commissions New Natural Gas Network for Clients

The newly developed gas network will help KEZAD realise its sustainability goals by cutting emissions Abu Dhabi, United Arab Emirates – 16 July 2024: Khalifa Economic Zones Abu Dhabi – KEZAD Group, the largest operator of integrated and purpose-built economic zones, has successfully commissioned a new natural gas network having ......Read More

Tuesday, July 16, 2024
ADCB unveils a groundbreaking Traveller Credit Card with unmatched benefits

Abu Dhabi, UAE - 14 July 2024: Abu Dhabi Commercial Bank announced today the launch of its all-new Traveller Credit Card, ensuring that its innovative financial solutions remain integral to customers’ evolving lifestyles. The leading bank has meticulously crafted its Traveller Credit Card to cater to the increasing demand for financial ......Read More

Sunday, July 14, 2024

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

Abu Dhabi, 5 July 2024: The Abu Dhabi Department of Economic Development (ADDED) organised, in collaboration with the Abu Dhabi Investment Office (ADIO), the third edition of Al Multaqa quarterly meetings, presenting the business community with recent updates on the Emirate’s economy and achievements in the first half of 2024 and ......Read More

Friday, July 5, 2024

AD Ports Group and the International Trade Centre (ITC) Sign a Strategic MOU for Cooperation to Enha ...

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 ......Read More

Saturday, June 29, 2024

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

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 ......Read More

Thursday, June 27, 2024
ADDED and UAEU to launch Abu Dhabi family business index

The first of its kind index in the UAE and region will provide valuable insights, boost economic diversification and growth Abu Dhabi, 25 June 2024: The Abu Dhabi Department of Economic Development (ADDED) and United Arab Emirates University (UAEU) have signed a Memorandum of Understanding (MoU) to launch the Abu Dhabi Family Business Index, ......Read More

Tuesday, June 25, 2024

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

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 ......Read More

Friday, June 14, 2024

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

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

Thursday, June 13, 2024

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

Abu Dhabi, 06 June 2024 — The Abu Dhabi Department of Economic Development (ADDED) in collaboration with the Abu Dhabi Free Zones Council launched the Unified Economic License in Abu Dhabi, spearheaded by Khalifa Economic Zones Abu Dhabi (KEZAD Group), Abu Dhabi Airports Free Zone (ADAFZ), Masdar City Free Zone, and Creative Media ......Read More

Friday, June 7, 2024
ADNEC Group and Department of Energy announce strategic partnership on the IDRA World Congress in Ab ...

Capital 360 Event Experiences will be the Professional Conference Organisers working with the support of other ADNEC Group subsidiaries Congress showcases new desalination and water reuse technologies that will help tackle the challenge of water scarcity worldwide Summit will gather global thought leaders, outstanding innovators, and ......Read More

Thursday, June 6, 2024

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

Dubai, UAE – June 5, 2024 Danube Group, one of the Middle East's largest diversified conglomerates, announced its strategic collaboration with Dubai Media Inc (DMI). This partnership establishes Dubai Media Inc. as the official media partner for Danube Group, marking a significant milestone in the Group's communication and marketing ......Read More

Wednesday, June 5, 2024

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

Our survey indicated that four in five executives (79%) have a formal sustainability strategy in place, with 52% fully embedding across their organisation. Companies are increasingly creating positions such as Chief Sustainability Officer, and gaining greater support from boards and C-suites. Half of the survey respondents stated that they have made a net-zero commitment, with an additional 26% working toward one. Building a talent pipeline is essential to achieve sustainability commitments, particularly in emerging technologies such as GenAI. Leaders in the region are increasingly looking to secure green loans and capital market funds to support their sustainability ......Read More

Wednesday, June 5, 2024

EarthSoul celebrates World Environment Day with expert panel on environmental stewardship

Experts to explore strategies for resilient communities through environmental stewardship and community resilience Dubai – June 3, 2024: EarthSoul Festival, organized by Orbit Events, will feature a pivotal panel discussion titled "Building Resilient Communities: Integrating Environmental Stewardship and Sustainability", ......Read More

Tuesday, June 4, 2024
Dubai SME and Danube Group Sign Cooperation Agreement to Boost Market Opportunities and Foster Growt ...

Dubai, UAE – May 30, 2024 – Dubai SME, a subsidiary of the Dubai Department of Economy and Tourism (DET), mandated to develop the small and medium enterprise (SME) sector, and Danube Group, a leading conglomerate in the Middle East, have signed a Cooperation Agreement to diversify the buyer base and expand market opportunities for ......Read More

Tuesday, June 4, 2024

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

224,000 sqm facility in KEZAD will enhance the emirate's standing in the marine engineering industry Abu Dhabi, UAE – 03 June 2024: Khalifa Economic Zones Abu Dhabi – KEZAD Group, the largest operator of integrated and purpose-built economic zones, and NMDC Energy, a subsidiary of National Marine Dredging Company (NMDC), today ......Read More

Monday, June 3, 2024

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

Abu Dhabi, UAE – 01 June 2024: The Emirates Nuclear Energy Corporation (ENEC) has signed a Memorandum of Understanding (MoU) with China National Nuclear Corporation (CNNC) to explore opportunities to collaborate and ensure best practice in the development, operation and maintenance of civil nuclear energy plants. The MoU was signed by His ......Read More

Saturday, June 1, 2024

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

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

Friday, May 31, 2024
Line Investments & Property Announces one-month Big Bonanza Grand Summer Super Sale with Exciting Ra ...

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

Friday, May 31, 2024

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

Facility to aid to maritime sector decarbonisation goals Abu Dhabi, UAE – 28 May 2024: AD Ports Group (ADX: ADPORTS), a facilitator of global trade, logistics and industry, Transmar, a leading container shipping line and terminal operator in the MENA region, and Orascom Construction, a leading global engineering and construction ......Read More

Tuesday, May 28, 2024

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

Abu Dhabi, May 28, 2024 – The Abu Dhabi Exports Office (ADEX), the export-financing arm of Abu Dhabi Fund for Development (ADFD), took part in the third edition of the Make it in the Emirates Forum, held at the Abu Dhabi Energy Center under the theme “INVEST, INNOVATE, GROW”. The event was organized by the Ministry of Industry ......Read More

Tuesday, May 28, 2024

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

Abu Dhabi, UAE: 27 May 2024 – EDGE, one of the world’s leading advanced technology and defence groups, and the Abu Dhabi Department of Economic Development (ADDED), the catalyst for economic growth and diversification in the emirate of Abu Dhabi, signed a cooperation agreement today to explore opportunities in strengthening the ......Read More

Monday, May 27, 2024

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