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Category: Business
Hubpay, a fast-growing financial institution licensed by the Abu Dhabi Global Market (ADGM), has unveiled its digital business accounts aimed at enhancing the corporate onboarding process for small and medium-sized enterprises (SMEs) in the UAE. This initiative aligns with the UAE’s goal to increase the number of SMEs from over 557 000 to more than...
Abu Dhabi’s steel and building materials manufacturer EMSTEEL has announced the launch of its Asset Enhancement Program, which has a capital expenditure of approximately AED625 million ($170.2 million). This strategic initiative is aimed at enhancing production capabilities and introducing advanced steel solutions to meet the increasing demands of the market. The program is closely aligned...
ADQ and Eni, a multinational energy technology firm with headquarters in Rome, have inked a Memorandum of Understanding. The purpose of this agreement is to pinpoint areas where supply chains and the mining industry can work together. The collaboration demonstrates both firms’ dedication to investigating cutting-edge prospects and solutions in the mining sector. It is...
During the state visit of the President of the United Arab Emirates, Sheikh Mohamed bin Zayed Al Nahyan, and the Italian Prime Minister, Giorgia Meloni, Eni’s Chief Executive Officer, Claudio Descalzi, signed three collaboration agreements with Emirati companies. These agreements focus on the development of data centres, renewable energy capacity transmission through a cross-border interconnection...
At a bilateral summit in Rome, the United Arab Emirates declared its intention to invest $40 billion in Italy. Although no precise timeframe for the investment was given, this noteworthy promise was made during a meeting between UAE President Sheikh Mohammed bin Zayed Al Nahyan and Italian Prime Minister Giorgia Meloni. Despite criticism from political...
Spring Valley, a UAE-based agro-commodity supplier, is investing AED 184 million to establish a new distribution hub at the Jebel Ali Free Zone (Jafza). This initiative aims to enhance regional food security and is projected to play a crucial role in the UAE’s food supply chain The new facility will cover over 100k square feet...
Larsen & Toubro (L&T), an Indian engineering and construction conglomerate, has announced that its subsidiary, L&T Energy Hydrocarbon (LTEH), has secured a significant contract worth $1.5 billion from Saudi Aramco. This contract involves providing essential engineering, procurement, and construction (EPC) services for the first phase of Aramco’s ambitious Carbon Capture & Storage (CCS) hub in...
Abu Dhabi’s ADQ has successfully completed the acquisition of a 49% stake in Plenary Group, a move aimed at enhancing its focus on opportunities within the public and social infrastructure sectors in the Middle East. This strategic partnership is expected to create a new platform dedicated to addressing infrastructure needs in the region. The acquisition...
The exclusive peer network Tiger 21 has launched its Dubai chapter, aiming to assist ultra-wealthy individuals in diversifying their investments and managing their wealth more effectively. This expansion provides members with a platform to engage in discussions about inheritance and philanthropy, which are crucial topics for high-net-worth individuals. Tiger 21, known for its focus on...
Thales Emarat Technologies, which is part of the French global Thales Group, says it will start making radar antennas in the United Arab Emirates this year. The company wants to grow its business in the region, so this project is meant to meet both local and international needs. As part of this growth, Thales Emarat...