Maestral, a shipbuilding joint venture based in Abu Dhabi between Fincantieri and EDGE, has secured a significant contract for an ‘In-Service Support Strategic Partnership Project’ aimed at enhancing the entire fleet of the United Arab Emirates (UAE) Navy. This contract is valued at over $520 million and will be implemented over a five-year period. The...
Qme, a B2B SaaS startup based in Egypt, has successfully raised $3 million in a seed funding round led by AHOY, a multisector technology company. AHOY was joined in this investment by a group of angel investors from the Gulf Cooperation Council (GCC). The funding aims to advance Qme’s AI-driven platform, which addresses inefficiencies in...
Abu Dhabi’s Sovereign Wealth Fund (ADSWF) has made a noteworthy investment of $436 million in Bitcoin exchange-traded funds (ETFs) during the first quarter of 2025. Such large acquisitions by sovereign funds may influence market dynamics and investor sentiment, as they signal increasing confidence in Bitcoin and could drive further institutional investments. This investment, recorded on...
Cheyne Capital’s hedge fund for Europe, the Middle East, and Africa is significantly increasing its investment in the United Arab Emirates, viewing it as the most resilient equity market amid uncertainties linked to US President Donald Trump’s policies. Fund manager Carl Tohme highlighted that the UAE’s currency peg to the dollar plays a crucial role...
Adnoc Drilling Co., a subsidiary of the United Arab Emirates’ largest oil producer, plans to secure approximately $1 billion in financing this year. This funding will help the company refinance expiring debts and support investments and dividends, as Chief Financial Officer Youssef Salem detailed in an interview with Bloomberg Television. The company has around $750...
UAE’s tech and telecommunications group e& is making strides in Europe with its latest acquisition of a Serbian cable TV and internet services provider, valued at 825 million euros. This move is part of e&’s strategy to expand its presence in the region. The acquisition will be managed by e& PPF Telecom Group BV, a...
Capital Haus, a prominent global financial concierge service, has announced its acquisition of Grow Your Wealth, a firm specializing in investment advisory, retirement savings, and taxation services. This strategic move enhances Capital Haus’s position in the private wealth sector, adding an additional $150 million in funds under management (FUM) and reinforcing its commitment to delivering...
UAE’s NMDC Energy, previously known as National Petroleum Construction Company, is making a significant move into the offshore wind sector with plans to invest $500 million in a specialized offshore vessel. This marks a major shift for the company, which has traditionally focused on oil and gas projects. Speaking to The National, Ahmed Al Dhaheri,...
Arcapita Group Holdings Limited, a global leader in alternative investments, has moved to strengthen its regional presence by opening a new office in Abu Dhabi. The expansion follows the company’s recent approval from Abu Dhabi Global Market (ADGM) to operate in the UAE, signaling its commitment to the country as a key hub for private...
The UAE and Germany have reaffirmed their strong economic partnership during the UAE-German Business Forum held in Abu Dhabi at the Abu Dhabi Global Market (ADGM). The event brought together senior officials, business leaders, and private sector representatives from both nations to explore collaboration in key sectors such as clean energy, advanced technology, and logistics....