UAE entities, especially sovereign wealth funds (SWFs), have a significant opportunity to address Brazil’s pressing infrastructure needs while fostering mutual economic growth, according to Luis Fernando Eleutério Lopes, partner and chief economist at Patria Investments. The diplomatic relationship between Brazil and the UAE, which began fifty years ago, has evolved into a robust partnership, characterized...
Global fintech company XTB has officially opened a new office at the Dubai World Trade Centre to enhance its presence in the Middle East. This expansion is part of the company’s strategy to establish itself as a trusted and regulated brokerage for both retail and institutional investors. The opening of the Dubai office coincides with...
Abu Dhabi Commercial Bank (ADCB) announced that S&P Global Ratings has upgraded its long-term issuer credit rating to ‘A+’ from ‘A’ with a ‘stable’ outlook. This elevation is attributed to the bank’s robust financial position and high asset quality. The upgrade places ADCB among the top three highest-rated banks by S&P in the MENA region....
The MENA FinTech Association (MFTA) has announced a strategic partnership with the FinTech Armenia Association, aimed at bolstering fintech innovation in both regions. This collaboration, which was revealed in a press release, signifies a step forward in enhancing cross-border synergies in Financial Technology, Artificial Intelligence, and Banking. It emphasizes the goal of strengthening the global...
HSBC Holdings Plc is set to intensify its investment banking efforts in Asia and the Middle East, following its recent withdrawal from significant operations in Europe and the United States, as stated by Chief Executive Officer Georges Elhedery. This restructuring initiative is projected to yield $1.5 billion in efficiency savings, allowing HSBC to invest in...
EMSTEEL Group has partnered with Yellow Door Energy to develop the largest industrial solar photovoltaic rooftop project in the UAE, featuring a capacity of 31.5 megawatts-peak (MWp). This solar power initiative aims to provide renewable energy to EMSTEEL’s facilities, showcasing the Group’s commitment to sustainable manufacturing practices. The project is a crucial part of EMSTEEL’s...
Tumbi Hotels has made its UAE debut with the grand opening of the Tumbi West Palm Beach Hotel, marking a significant milestone for the wellness-focused brand. This new hotel is part of the Tapestry Collection by Hilton and represents an investment of over AED375 million (approximately $102 million). Located on Palm West Beach, the Tumbi...
In a significant move to protect agricultural diversity, seeds cultivated in the UAE have been transported to the Arctic and are now stored in the Svalbard Global Seed Vault. This facility, located on an island above the Arctic Circle, serves as a crucial safeguard for global crop diversity. The seeds were meticulously collected and studied...
Dubai’s Roads and Transport Authority (RTA) has widened its Bus-On-Demand service to include Oud Metha and Barsha Heights, addressing the growing need for flexible and efficient transport solutions across the city. Adel Shakri, Director of Planning and Business Development at RTA’s Public Transport Agency, shared that the service is designed to offer convenient, cost-effective mobility...
Abu Dhabi Biobank has officially launched private cord blood banking services, providing expectant families with a more affordable and accessible option to preserve their newborns’ stem cells. This initiative aims to address the growing demand for life-saving treatments using cord blood, which has seen over 60 000 transplants performed globally. Historically, many families have been...