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Abu Dhabi

Gulf oil CEOs attack ‘unrealistic’ energy transition goals

Saudi Aramco’s CEO has lambasted the “unrealistic” energy transition scenarios that he claims have exacerbated a global energy crisis. His counterpart at Abu Dhabi National Co (ADNOC) also warned that efforts to tackle climate change could prove counterproductive if they slow economic growth.  In unusually fiery comments, Aramco CEO and president Amin Nasser warned that […]

Khalifa Economic Zones Abu Dhabi Group (KEZAD) will grow emirate's economic free zones

Abu Dhabi sets up KEZAD Group to bolster its industrial ambitions

AD Ports Group has set up a new business, KEZAD Group, to expand its economic cities and free zones offering. KEZAD, which stands for Khalifa Economic Zones Abu Dhabi, merges the operations of Khalifa Industrial Zone Abu Dhabi (KIZAD) and Specialised Economic Zones (ZonesCorp). It operates 12 economic zones with a total area of 550 […]

Dalma Adventur HQ in Abu Dhabi's Industrial City

Factory investments triple in Abu Dhabi

Investment in Abu Dhabi’s active industrial sector has tripled over the past year as the emirate seeks to become a regional manufacturing hub. Latest figures released by Industrial Development Bureau (IBD), part of the Abu Dhabi Department of Economic Development (ADDED), showed that the total value of factories that switched to the in-production stage rose […]

ADNOC sends first German cargo as it tests hydrogen ambitions

Abu Dhabi National Oil Company (ADNOC) has announced that its first shipment of low-carbon ammonia has left the UAE bound for Hamburg, Germany, as the company aims to overcome one of the biggest obstacles to its hydrogen industry ambitions.  The demonstration cargo will be delivered to Aurubis, a global provider of non-ferrous metals and one […]

Car, Automobile, Vehicle

Abu Dhabi bids to become electric vehicle manufacturing hub

Abu Dhabi today announced plans for its first electric vehicle assembly facility as the emirate looks to join Saudi Arabia and Sharjah in building a regional manufacturing hub for sustainable transport options. KIZAD, part of AD Ports Group’s Economic Cities & Free Zones, has signed a lease agreement with NWTN to establish an assembly plant […]

Global carbon capture institute opens in Masdar on net zero path

As the UAE targets net-zero carbon emissions by 2050, the Global Carbon Capture and Storage (CCS) Institute has announced it will be opening its first Middle East headquarters in Abu Dhabi’s Masdar City.  The Global CCS Institute is an international think tank with a stated mission of accelerating the deployment of CCS technology – considered […]

Abu Dhabi punches its way into global boxing reckoning

Having won the battle to become the international home of UFC (Ultimate Fighting Championship), Abu Dhabi is now looking to rival Las Vegas and Saudi Arabia as a destination to host the world’s top boxing matches. UFC, the multi-billion dollar mixed martial arts organisation, signed a deal with the Abu Dhabi Department of Culture and […]

BP's Teesside site

Abu Dhabi unveils hydrogen plan to bolster UAE’s eco ambitions

Abu Dhabi unveiled its hydrogen policy and regulatory framework on Monday – part of the UAE’s push to become a global force in the low-carbon economy. The Department of Energy (DoE) said its framework aimed to accelerate the UAE’s national hydrogen strategy, adding that it is working with public and private sector stakeholders including Abu […]

SoftBank slump not a ‘total disaster’ for Gulf wealth funds

The $23.1 billion quarterly loss announced by Japan’s SoftBank Vision Fund this week may not represent a “total disaster” for its Gulf investors, according to US-based experts. Announced during President Donald Trump’s visit to Saudi Arabia in 2017, the Vision Fund is heavily backed by GCC sovereign wealth funds (SWFs). Saudi Arabia’s Public Investment Fund […]

Masdar takes lead as Azerbaijan sets ambitious green targets

Masdar, the Abu Dhabi-based renewable energy company, announced on Tuesday that it has achieved financial close for its 230mw Garadagh Solar Photovoltaic (PV) Plant in Azerbaijan. The project, the country’s first foreign investment-based independent solar power project and Masdar’s first in Azerbaijan, is co-financed by Abu Dhabi Fund for Development, the Asian Development Bank, the […]

The Yas Marina Circuit, which hosts the Abu Dhabi grand prix

Abu Dhabi’s Aldar Properties posts 54% jump in Q2 profit

Aldar Properties, the builder of Abu Dhabi’s Formula One motor racing circuit, reported a 54 percent rise in second-quarter profit on Thursday, helped by record sales on strong local and international demand. Profit attributable to shareholders came in at 803.99 million dirhams ($218.91 million) for the three months to June 30, compared with 520.83 million […]

Etihad CEO Tony Douglas

Etihad CEO issues call to make aviation industry net zero

There is no “single bullet” to solve the climate crisis and airlines must work together to create a sustainable aviation sector, the CEO of Etihad Airways has told AGBI. Tony Douglas, group chief executive officer, Etihad Aviation Group, said: “This is about industry – from the giants to the start-ups – governments, regulators and academics […]

Symbol, Sign, Scissors

France in talks with Abu Dhabi to import fuel this winter

France is talking to Abu Dhabi about importing fuel and diesel for the coming winter season, TotalEnergies Chairman and CEO Patrick Pouyanne said, Reuters reported on Wednesday. Pouyanne told the French Senate this was a response to the Russia/Ukraine conflict, which has impacted Russian energy supplies to Europe. Fuel prices in France were at $2.27 […]

Sky Kurtz, co-founder and CEO of Pure Harvest Smart Farms, a fast-growing agtech business

Pure Harvest aims to grow UAE’s next $1bn unicorn startup

“Why did such a promising young man leave Silicon Valley to grow tomatoes in the desert?”. It’s a question Stanford University business graduate and former private equity investor Sky Kurtz says he gets asked a lot, even by his own father-in-law.  “My wife’s father thought I’d lost my mind. He was literally like, ‘there’s something […]

Abu Dhabi incentives tipped to relieve squeeze on factory space

Analysts have welcomed Abu Dhabi’s plan to launch an incentives package aimed at the industrial sector, including discounts on electricity bills and land purchases. Mohamed Ali Al Shorafa Al Hammadi, chairman of the Abu Dhabi Department of Economic Development, unveiled the package last week, ahead of its launch in July. The scheme also includes a […]

Shams solar power plant

Abu Dhabi deal aims to build global clean energy powerhouse

Abu Dhabi National Energy Company (TAQA) and Abu Dhabi National Oil Company (ADNOC) have signed binding agreements to buy stakes in Abu Dhabi Future Energy Company, better known as Masdar, from Mubadala Investment Company.  The partnership aims to create a global clean energy powerhouse that consolidates the renewable energy and green hydrogen efforts of TAQA, […]

Finger, Person, Human

UAE ‘at forefront’ of global climate fight after new $50bn pledge

The UAE is now at the forefront of the global fight against climate change after President Sheikh Mohamed bin Zayed Al Nahyan pledged an extra $50 billion investment over the next decade. That’s the view of Mariam bint Mohammed Almheiri, the country’s Minister of Climate Change and the Environment, following the UAE President’s commitment announced […]

Gulf rivals jostle for position as EV test beds

A collaboration has been forged between electric vehicle company NWTN and real estate investor Sultan Investments to build a manufacturing facility in Abu Dhabi. The tie-up is the latest signal of intent by the UAE to corner the fast growing EV market, rivalling Saudi Arabia’s ambitions.  NWTN, previously known as ICONIQ, was founded in 2016 […]

BMG is a production service provider for vials and pre-filled syringes used for vaccines

ADQ injects new life into healthcare portfolio

ADQ, an Abu Dhabi-based investment company, today announced it has agreed to acquire one of Turkey’s leading producers of sterile injectable products as part of plans to build an integrated healthcare and life sciences platform in the UAE. The company said it has entered into a definitive agreement to acquire Birgi Mefar Group (BMG), a […]