Abu Dhabi’s Masdar, also known as the Abu Dhabi Future Energy Company, is contemplating an initial public offering (IPO) in 2026. This move is seen as a significant step towards promoting cleaner energy sources not only in the Gulf, the world’s largest oil-producing region, but also in Europe. The proposed IPO aims to finance Masdar’s...
Finsmeira has announced a significant investment of 859 million dirhams to establish a series of retail jewelry stores and advanced manufacturing units in the UAE and India. This initiative is set to unfold over the next two years and represents a substantial expansion for the company, particularly in the UAE. Finsmeira plans to open main...
Abu Dhabi-based company XRG has announced the completion of its acquisition of a 10% stake in the Area 4 concession of the Rovuma Basin in Mozambique from the company Galp. This strategic move is part of XRG’s efforts to enhance its global presence in the liquefied natural gas (LNG) sector. The acquisition is significant as...
Abu Dhabi Future Energy Company (Masdar) has successfully acquired Valle Solar, one of the largest photovoltaic solar projects in Spain’s Valencia region. This acquisition, made through its subsidiary Saeta, marks a significant investment in renewable energy as the project is set to generate 234 megawatts (MW) of solar energy, with potential hybridization through a battery...
Khazna Data Centers has announced the addition of MGX and Silver Lake as new minority shareholders, further strengthening its position in the data center industry. This transition comes as e& exits its investment in Khazna while continuing to act as a key business partner. e& has been instrumental in Khazna’s success and will maintain its...
Vinsmera Group, a global jewellery enterprise led by the Kambrath brothers—Dinesh Kambrath, Anil Kambrath, Manoj Kambrath, and Krishnan Kambrath—has announced a significant investment of ₹2,000 crore (Rs20 billion) over the next two years. This funding will be used to establish a premium jewellery retail chain and advanced manufacturing units in both the UAE and India....
The Jebel Ali Free Zone Authority (Jafza) has announced an investment of 90 million dirhams aimed at developing the second phase of its logistics complex. This expansion will add over 360 000 square feet of space to the existing facilities, enhancing Jafza’s capability to support growing business demands. Jafza’s expansion reflects its commitment to bolstering...
UAE technology investment company MGX, alongside US private equity firm Silver Lake, has secured a minority stake in Dubai-based Khazna Data Centers. This investment marks a significant move in the data center industry, aimed at enhancing Khazna’s growth and technological capabilities. Following this transaction, UAE telecommunications company e&—previously known as Etisalat—has sold its 40 percent...
Lumi AI, an artificial intelligence startup located in the UAE, has successfully raised $3.7 million in a seed funding round led by AgFunder. Other notable investors in this round include Forum Ventures, Abu Dhabi’s sovereign wealth fund ADQ, the Qora71 syndicate, and several angel investors. This recent funding round is a significant milestone for Lumi...
NKN Media, a prominent integrated media company, has successfully raised Dh35 million and is planning to secure an additional Dh50 million to enhance its global expansion and intellectual property development. The company is celebrating five years in Dubai and has established itself as a significant player in the region’s media and events sectors. Following the...