Abu Dhabi National Oil Company (Adnoc) is reportedly considering acquiring energy assets from the Mubadala Investment Company, according to sources familiar with the situation. Negotiations initially began late last year, but discussions have since stalled due to disagreements over asset valuation. The potential deal is estimated to be worth around $10 billion. Sources indicated that...
Ignite Energy Access, a prominent provider of Distributed Renewable Energy (DRE) solutions in Africa, has announced plans to establish its global headquarters in Abu Dhabi, following a strategic agreement with the Abu Dhabi Investment Office (ADIO). This collaboration aims to enhance job creation and support Ignite’s mission to connect 100 million people in Africa with...
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai and Deputy Prime Minister and Minister of Defence of the UAE, announced that the total value of Dubai’s endowment assets has reached AED 11.1 billion. This significant increase reflects the ongoing commitment of Dubai to enhance its endowment sector and...
Addepar, a prominent global data and technology platform that supports investment professionals, has announced the opening of its first office in Dubai, located in the Dubai International Financial Centre (DIFC). This office will serve the Middle East and Africa (MEA) region, allowing Addepar to better cater to its expanding clientele, which includes family offices, wealth...
ROR Coffee Solutions, a specialty coffee provider based in the UAE, has announced a significant investment of AED30 million ($8.2 million) aimed at expanding its operations across the Middle East and Europe. This funding is part of the company’s strategy to enhance its market presence and innovation over the next five years. The investment will...
ADQ, recognized as the third-largest sovereign wealth fund in Abu Dhabi, has successfully secured a majority stake in Aramex, a logistics company listed in Dubai. Following a voluntary tender offer, ADQ now owns 58 percent of Aramex. This includes 23 percent held by its subsidiary, AD Ports Group, and an additional 35 percent acquired from...
Finseta plc has announced that it has obtained a Category 3D licence from the Dubai Financial Services Authority (DFSA), enabling the company to provide payment services in the United Arab Emirates (UAE). This strategic move is part of Finseta’s plan to enhance its geographical reach and regulatory capabilities, aligning with its overall business expansion strategy....
Khalifa Economic Zones Abu Dhabi (KEZAD Group) and its strategic client Metal Park have announced the launch of a new storage hub valued at AED 110 million. This development is expected to enhance logistics capabilities in the region and support the growing demand for storage solutions. The new facility will span a significant area within...
The National Bank of Fujairah has successfully finalized a financing agreement worth $100 million for the construction of a clinker production unit by Pure Cement LLC. This agreement is a single currency term loan aimed at supporting the growth of the cement production sector in the region. This significant investment highlights the bank’s commitment to...
Dubai Ports World (DP World) and the General Authority for Ports, known as Mawani, have unveiled a new advanced container terminal in Jeddah Islamic Port. This project represents a significant milestone in DP World’s expansion and development program, with an investment of 3 billion Saudi Riyals (approximately 800 million US dollars) aimed at modernizing the...