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ADQ, Orion to establish JV

The partners commit to deploying $1.2bn in the next four years.

Alpha Dhabi acquires interest in NCTH

The deal increases NCTH's portfolio to 8 hotels with 1,500 keys.

Meraas awards construction contract

The $272m contract has been awarded for Bluewaters Bay.

SIB’s 2024 profit $272m

The profit surpassed AED 1 billion for the first time in bank's history.

AD Ports to invest in Kazakh port

Under the deal, AD Ports Group owns 51% stake.

  • Weibo plans $547m HK listing

    Hong Kong listing is seen as a hedge against removal from US exchanges

    Listing in Hong Kong is seen as a hedge against the risk of being removed from US exchanges

    China also has been encouraging its big tech players to list either in Hong Kong or Shanghai

  • Pandemic to cost global tourism $2trn

    International tourist arrivals will this year remain 70-75 percent below the 1.5 billion arrivals recorded in 2019, before the pandemic...

    In addition to virus-related travel restrictions, the tourism sector is also grappling with the economic strain caused by the pandemic

    The spike in oils prices and the disruption of supply chains are also complicating matters

  • AED100m endowment funds ‘Khalifa University Enterprises Company’

    The KUEC will aim to encourage technology investors and entrepreneurs to partner with the University to commercialize its growing patent...

    The KUEC will include ‘Innovation Acceleration and Startups’ and ‘KU Ventures’, which will support establishing and operating non-IP technology companies

    KUEC also includes the Endowment Fund that will allocate funding for investments and operations

  • Nissan eyes 2030 EV push

    It wants half its sales to be electric or hybrid vehicles by 2030.

    The move follows in the footsteps of other major global automakers, which have increasingly signalled a move towards electric and hybrid vehicles

    Unveiling its new long-term plan, Nissan said it will launch 23 new models, including 15 new electric vehicles, in a bid to reach the 2030 goal

  • Morocco offers opportunities for Indian companies to settle and expand: Official

    Morocco can attract big Indian investment due to its talented human resources and an impressive investment climate, said Ashwath Narayan,...

    Morocco has launched a roadshow in India to promote the initiative "Morocco Now".

    High technology, biotechnology, engineering and automotive sectors should be focus of investments, said the minister.

  • Iran banks hail arbitration panel win over Bahrain

    Two leading Iranian banks have welcomed a decision by a Hague-based tribunal to order Bahrain to pay them more than...

    Iran's state-owned Bank Melli and Bank Saderat sought arbitration in the case in 2017

    Hague based tribunal found that that Bahrain's motives had been primarily political

  • Abu Dhabi to host new Amazon fulfillment center from 2024

    Abu Dhabi will host a new Amazon fulfillment center, expected to be the most technologically advanced in the region. It...

    E-commerce giant says the centre will speed up delivery times and support a range of sellers

    The new centre is part of collaboration between Amazon and Abu Dhabi Investment Office’s program to attract investment and create job opportunities

  • EGA to decarbonize its GE gas turbines for achieving UAE’s net-zero goal

    Emirates Global Aluminium (EGA) and GE Gas Power have signed an agreement to reduce greenhouse gas emissions from EGA’s existing...

    EGA and GE Gas Power have signed an agreement and together they will work out a roadmap for decarbonization efforts.

    EGA has 33 GE natural gas turbines at Jebel Ali and Al Taweelah, with a total power generation capacity of 5,200 megawatts.

  • GreenDome of UAE buys out Elite Co. for an unknown sum

    GreenDome Investments has bought out Elite Co. from Prama Holdings, in a deal representing one of the region’s largest acquisitions...

    Elite Co., a leading fully integrated land freight and courier solutions providers in the Middle East, has state-of-the-art operations and assets across Oman, Bahrain, Qatar

    GreenDome Investments aims to build an integrated end-to-end logistics services powerhouse to tap into the Middle East

  • Sophia Lauren names cruise ship MSC Virtuosa at Dubai’s Mina Rashid

    Dubai hosted the naming ceremony of a cruise ship, MSC Virtuosa, which was officially named by Hollywood star Sophia Lauren...

    MSC Cruises, the world's third-largest cruise operator, had chosen Dubai for the naming ceremony.

    The ceremony was held at Port Rashid in partnership with DP World and Dubai’s Department of Economy and Tourism.