The global liquefied natural gas (LNG) shipping market is heading for tighter capacity by the end of 2027, with older vessels set to retire and demand for fuel supplies growing. This reduction in capacity is expected to push up freight rates, according to Nicholas Gleeson, Chief Financial Officer of Adnoc Logistics and Services (Adnoc L&S),...
Dubai-listed investment bank Shuaa Capital has sold its stake in a Saudi hospitality portfolio as part of its strategy to streamline investments and reduce liabilities. The portfolio, managed by Shuaa Capital Saudi Arabia, included three properties located in Riyadh, Jeddah, and Dammam. Shuaa, which owned a 33% stake in the portfolio, finalized the sale to...
Ajman’s Department of Tourism Development (ATDD) has announced plans to host the Etihad Ajman Golf Championship on January 24 and 25. The event, sponsored by Etihad Water and Electricity (EtihadWE), aims to promote sports tourism in the emirate, while also encouraging community engagement and youth participation. The announcement was made during a press conference at...
Emirates, the official main partner of Real Madrid, has revealed a unique livery on one of its Boeing 777 aircraft, showcasing the partnership between the airline and the Spanish football club. The plane landed in Madrid yesterday, carrying Real Madrid’s first team players on a chartered flight to Jeddah for the Spanish Super Cup, scheduled...
ADNOC Logistics and Services (ADNOC L&S) has officially completed its $1.04 billion (AED3.8 billion) acquisition of an 80% stake in Navig8 TopCo Holdings Inc. (Navig8), a global shipping and marine services company. The deal, which took effect from 1st January 2024, includes a plan to acquire the remaining 20% stake by mid-2027 for an additional...
DP World, the global logistics leader, announced it has exceeded 100 million TEUs (twenty-foot equivalent units) in container handling capacity across its global operations. This achievement highlights over a decade of strategic investments worth $11 billion in infrastructure upgrades and expansions. In the last 10 years, DP World’s capacity has grown by 33%, starting from...
Abu Dhabi Sustainability Week (ADSW) 2025 will take place from January 12 to 18 under the patronage of President His Highness Sheikh Mohamed bin Zayed Al Nahyan. This global event aims to unite leaders from different sectors to accelerate sustainable development and drive economic growth. With the theme “The Nexus of Next. Supercharging Sustainable Progress,”...
Dubai is gearing up to host the 17th edition of Arab Plast, the largest trade exhibition for the plastics, petrochemicals, recycling, packaging, and rubber industries in the Middle East and North Africa. Starting tomorrow, January 7, at the Dubai International Convention and Exhibition Centre, the event will run until January 9, welcoming over 750 exhibitors...
Abu Dhabi has introduced the Abu Dhabi Registration and Licensing Authority (ADRA) to enhance the emirate’s business environment. The new authority, launched on Monday, aims to regulate business activities, streamline licensing, and support compliance with applicable laws across Abu Dhabi and its non-financial free zones. ADRA was established following a resolution from the Abu Dhabi...
His Highness Sheikh Abdullah bin Zayed Al Nahyan, UAE Deputy Prime Minister and Minister of Foreign Affairs, hosted His Excellency Dr. Abdulla Khalil, the Foreign Minister of the Maldives, in Abu Dhabi today. The leaders discussed ways to deepen relations between the two countries, focusing on areas such as the economy, trade, investment, renewable energy,...