Abu Dhabi, UAE -- Dr. Karim El Solh, Co-Founder and Chief Executive Officer at Gulf Capital, said Thursday Abu Dhabi is positioned as one of the globe's fastest-growing financial hubs between West and East Asia. Speaking to the Emirates News Agency (WAM) during Abu Dhabi Finance Week, El Solh underscored...

Abu Dhabi, UAE--Abu Dhabi IPO Fund (ADIPOF) is working on three initial offerings in the technology, hospitality, restaurants, and financial sectors, expected toward the end of 2024. It was revealed by Bassel Al Khawaja, Advisory Head at Abu Dhabi IPO Fund (ADIPOF) on the sidelines of the 2nd day of...

Abu Dhabi, UAE - Martina A Strong, the US Ambassador to the UAE revealed on Monday that American companies secured over $128 billion in deals for cutting-edge American technology, innovative products, and premium services during the Dubai Airshow, including a $52 billion deal between Emirates Airlines and Boeing. In statements...

ABU DHABI, UAE - Emirates Water and Electricity Company (EWEC) on Monday announced that it will conduct its Q4 2023 auction for Clean Energy Certificates (CECs) here, with registration now open and the auction closing on December 14 2023. Introduced by the Abu Dhabi Department of Energy (DoE), CECs are...

Abu Dhabi, UAE -- The financial sector in the UAE has experienced a surge of 30 percent in the second quarter of this year. Forecasts predict a continued upward trajectory, with an expected annual growth rate of 13 percent in 2023, according to a senior economic official. Addressing attendees at...

ABU DHABI, UAE - Emirates Development Bank (EDB) has committed US$350 million (AED 1.3 billion) to support the Energy Transition Accelerator Financing (ETAF) platform to accelerate the financing and drive funding of renewable energy projects in developing countries. The ETAF platform is a global climate finance facility established by the International...

SHARJAH, UAE - Bank of Sharjah announced its selection as joint lead manager and bookrunner in the debut US$350 million 144A/Reg S senior unsecured sukuk for Abu Dhabi-based Ittihad International Investment LLC, alongside other international and regional banks. In response to the successful closure of this transaction, Mohamed Khadiri, CEO...

Abu Dhabi, UAE -- The Abu Dhabi Department of Economic Development (ADDED) has launched a program to improve the access of SMEs to financial services and enable them to grow further and play a greater role in the sustainable development. ADDED said the “SME Finance Facilitator” program is being launched...

The pact sets up a framework for knowledge, data sharing

The pact will help in creating job opportunities in the UAE.

ABU DHABI, UAE – Emirates Global Aluminum (EGA) on Thursday announced the construction of a pilot plant to convert bauxite residue, a waste stream from alumina refining, into manufactured soil. The pilot plant is considered to be the first-of-its-kind in the world. Construction follows five years of scientific research development...

ABU DHABI, UAE - Masdar City, a sustainable urban community and a business and technology hub here, has just completed the region’s first net-zero energy commercial building, called NZ1. The building’s simple design demonstrates that net-zero energy is possible for almost any developer, setting a new benchmark for architects and...

Abu Dhabi, UAE--Abu Dhabi Future Energy Company (Masdar) has signed an agreement with Emirates Steel Arkan to develop a pioneering project utilising green hydrogen to reduce carbon emissions in the UAE's energy-intensive steel industry. Marking the first of its kind in the Middle East and North Africa region, this innovative...

ABU DHABI, UAE  - Emirates Global Aluminum (EGA) on Tuesday announced the start of construction of the country’s largest aluminum recycling plant. The state-of-the-art facility, with an annual production capacity of 170,000 tonnes, is being built adjacent to EGA's existing smelter in Al Taweelah. The plant will utilize a combination...

Abu Dhabi, UAE-- The third edition of the Investopia summit will be held in Abu Dhabi in February next year, drawing prominent local and international figures, investors, government officials, decision-makers and entrepreneurs. Al Marri announced the details of the upcoming edition of the Investopia summit to be held under the...

ABU DHABI, UAE - Abu Dhabi Ship Building (ADSB) announced that it is building two 28-meter vessels for ADNOC Logistics and Services plc (ADNOC LS), a global energy maritime logistics leader. The order for these vessels further strengthens the relationship between ADNOC LS, a global energy maritime logistics leader, and...

Abu Dhabi, UAE – ADASI, the EDGE Group entity, a regional leader in autonomous systems and services, said on Thursday that it has signed an AED 239 million ($65 million) contract to supply GARMOOSHA unmanned aerial systems (UAS) to the UAE Ministry of Defence. "We are honoured to deliver our...

This is due to the steady growth in its consumption volumes.

ABU DHABI, UAE - Some employees who failed to meet an October 1 deadline to sign up to the UAE's job loss insurance scheme will not be able to renew work visas until they pay off fines, authorities said on Wednesday. The Ministry of Human Resources and Emiratization said financial...

The company's third-quarter revenue grew by 8% to $5.80 billion.

The bank marked the issuance of its $500 million green sukuk.

The two companies will invest up to US$1.5 billion.

The EBITDA increased by 28% YoY to $303 million in the third quarter.

The final orderbook of the green sukuk closed at $2.6 billion.

Global firms looking to hire space for offices and demand from govt, local dwellers have turbocharged the sector, driving property prices and rents to highs not seen in recent years.

ABU DHABI, UAE - The United Arab Emirates, represented by the Ministry of Finance (MoF) as the issuer, in collaboration with the Central Bank of the UAE (CBUAE) as the issuing and paying agent, has announced the results of the fifth auction of the Islamic Treasury Sukuks (T-Sukuks). This is...

ABU DHABI, UAE - A recent report revealed that 29 initial public offerings (IPOs) were recorded in the Middle East and North Africa (MENA) region during the first nine months of this year, with total proceeds of US$5.8 billion. The report, issued on Tuesday by Ernst Young (EY) on IPO...

Abu Dhabi, UAE -- AD Ports Group (ADPORTS) has purchased 10 offshore vessels for $200 million that will bolster offshore operations in the Middle East and Southeast Asia. The investment in the diversified fleet with an average age of around nine years is significantly less than the industry average. All...

The firm recently launched steps to optimize its cost structure.

Abu Dhabi, UAE - The National Anti-Money Laundering and Combating Financing of Terrorism and Financing of Illegal Organizations Committee (NAMLCFTC) and UAE supervisors, issued guidance on combating the use of unlicensed virtual asset service providers. Prepared by the supervisory subcommittee, the guidance aims to educate licensed financial institutions (LFIs) and...

ANAVIA focuses on developing unmanned helicopters.

Abu Dhabi, UAE - Abu Dhabi Securities Exchange (ADX) and HSBC Bank Middle East Limited are working together in the first regional collaboration of its kind to develop digital fixed-income securities, paving the way for the introduction of a broader array of capital market use cases in the Middle East....

The company's adjusted EBITDA reaching $446.5 million.

Abu Dhabi, UAE - The non-oil trade volume between the UAE and Jordan has reached AED16.5 billion ($4.5 billion) in 2022, a 47.4% increase from 2021, the UAE news agency WAM reported on Wednesday.Non-oil UAE exports and re-exports reached about AED14.7 billion ($4 billion) in 2022. On Tuesday, Jordan King...

Abu Dhabi, UAE - Setting up a "loss and damage" fund for poorer nations hit by climate change dominated preliminary talks on Tuesday, one month before COP28 in Dubai where delegates look set to tussle over the future of fossil fuels. Around 70 ministers have gathered since Monday at the Emirates...

The firms will continue to work closely on future global projects.

ABU DHABI, UAE - Trade between the two countries is on an upswing with volumes this year expected to surpass that of last year, Radha Krishna Panday, Ambassador of Canada to the UAE, told the Emirates News Agency (WAM). He said that the UAE has created a value-added platform that...

ABU DHABI, UAE -  Upcoming UN climate talks in Dubai will be open to the private sector on an unprecedented scale, the conference's chief said on Monday, calling it a chance to "reimagine entire economies". Sultan Al Jaber, the COP28 president and head of state-owned oil giant ADNOC, was speaking at...

The company has issued a dividend of $1.3 billion.

Abu Dhabi, UAE - Mubadala has issued its first-ever Green Bond for US$750 million with a tenor of 10.5 years, at a yield of 6.03 percent and coupon at 5.875 percent. The issue saw strong demand from the market. The order books peaked at more than $6 billion with robust...

RIYADH, SAUDI ARABIA - GFH Capital is considering the offering of its unit in Saudi Arabia on the Tadawul. GFH Group's plans are unchanged with regard to listing in other markets, CEO Razi Al Murbati said. The group is listed on the stock exchanges of Bahrain, Dubai, Abu Dhabi and...

Abu Dhabi, UAE – The UAE president Sheikh Mohamed bin Zayed Al Nahyan Thursday discussed climate financing with the President of the World Bank Group Ajay Banga at Qasr Al Shati in Abu Dhabi. The meeting also discussed global economic conditions, the economic impact of crises, and the contributions of the...

The company gained from regional food processing.

Abu Dhabi, UAE--The UAE's Ministry of Interior and the Gulf Police Service hosted the seventh edition of the strategic dialogue focused on developing an efficient, multilateral framework for global police work. This dialogue serves as a global platform under INTERPOL's auspices, uniting regional police organizations and major intergovernmental bodies concerned...

Abu Dhabi, UAE-- The UAE and Canada have reviewed bilateral ties at the first joint committee meeting in Abu Dhabi on Monday. The meeting was co-chaired by Reem Al Hashimy, UAE's Minister of State for International Cooperation, and Mélanie Joly, the Minister of Foreign Affairs of Canada. During the meeting,...

ABU DHABI, UAE - Khalifa Economic Zones Abu Dhabi (KEZAD) Group, the integrated trade, logistics, and industrial hub of Abu Dhabi announced the signing of a land lease agreement with Advanced Petro Services (APS), a leading provider of specialised services in the energy industry. KEZAD’s world-class industrial ecosystem is equipped...

ABU DHABI, UAE – Emirati Minister of Economy Abdullah bin Touq Al Marri has announced that the Gulf Cooperation Council (GCC) countries will roll out a unified Gulf tourist visa within the next two years which will grant travelers, access to six countries. Al Marri said the seventh meeting of...

Abu Dhabi, UAE - Aldar Properties achieved a 97% occupancy rate across its prime Grade A commercial properties, which includes its four buildings at Abu Dhabi Global Market (ADGM), HQ, and International Tower, the company said today. Occupancy rates at the towers located at ADGM, the international financial centre on...

It's net profit was AED 26.5 million ($7.21m) in Q3 2023.

Abu Dhabi, UAE – UNCTAD's 8th World Investment Forum came to a close on Friday in Abu Dhabi with a powerful call to public and private investors to play a role in reshaping the world economy, and seize the emerging opportunities offered by the energy transition, transformation of the agrifood...