Energy Adnoc Gas IPO tipped to break record for Abu Dhabi exchange Adnoc’s listing of its gas business could take place as soon as this month – and become the largest IPO on the Abu Dhabi Securities Exchange, according to reports. The state-owned oil giant is looking at a valuation of at least $50 billion for Adnoc Gas, two sources close to the matter have told Reuters. […] February 3, 2023
Science & Technology Aramco-backed Insilico opens new lab to ‘extend human life’ Insilico Medicine, the Hong Kong-based Aramco-backed health technology company, opened its eighth global laboratory this week at Abu Dhabi’s Masdar complex. The lab aims to support Middle East efforts to find new drugs that prolong human life. “My hope for the region is that it realises it can be a big player in drug discovery,” […] February 3, 2023
Real Estate UAE master developers partner for 9,000 Dubai homes UAE mast developers Aldar Properties and Dubai Holding have formed a partnership to develop 9,000 residential units across prime locations in Dubai, with the first phase of launches planned to start this year. The joint venture will oversee the development of new communities in three locations along the E311 and E611 corridors – in the […] February 2, 2023
Retail Where the mall meets the metaverse “We’re working on a number of initiatives that start to blur the boundaries between Web3, the metaverse, and how that is implemented in a physical space.” This is not how retail bosses used to talk a few years ago – but the digital habits that shoppers developed during the pandemic are here to stay, so […] January 31, 2023
Banking & Finance UAE capital markets set for ‘significant growth’, says regulator If 2022 was a year of recovery from the economic effects of the coronavirus pandemic, then 2023 will witness “significant growth” in the UAE capital markets. Mohamed Khalifa Al Hadari, deputy CEO of the Emirates Securities and Commodities Authority, told the inaugural Mena IPO Summit in Dubai that there are 11 initial public offerings (IPOs) […] January 25, 2023
Opinion Environment UAE must deliver tangible results at Cop28 to quiet the critics Host nation faces intense scrutiny but has credentials to come up with the goods January 23, 2023
Environment Clean energy investment may be hit by economic slowdown The global economic downturn could have serious implications on investment into clean energy and cause climate change targets to be pushed back, experts have warned. Elias Hajj, senior partner at McKinsey & Co, said during Abu Dhabi Sustainability Week that an estimated $6 trillion is needed annually to fund the transition to clean energy. But […] January 19, 2023
Energy Masdar chief: Everyone is on board with climate change Once viewed with scepticism, the discussion around climate change and securing a sustainable energy pathway to net zero has now become the accepted mainstream view, according to the CEO of Masdar. Founded 16 years ago, the UAE-owned renewable energy firm has a presence in 40 countries, with a capacity of 20gw, made up of operational […] January 18, 2023
Environment Adnoc calls on Earthshot Prize winner for decarbonisation pilot Abu Dhabi National Oil Company (Adnoc) announced on Tuesday a partnership to pilot technology that permanently mineralises carbon dioxide within rock formations found in the emirate of Fujairah. Adnoc is partnering with the Fujairah Natural Resources Corporation, Abu Dhabi Future Energy Company (Masdar) and Oman-based 44.01. The project, announced at the Abu Dhabi Sustainability Week, […] January 17, 2023
Environment Adnoc chief Sultan Al Jaber named president of Cop28 Sultan Al Jaber, head of state oil giant Abu Dhabi National Oil Company (Adnoc), has been named president of the Cop28 climate conference, which is being hosted by the UAE later this year. Al Jaber, who is also the UAE’s minister of industry and advanced technology, has served as special envoy for climate change over […] January 12, 2023
Environment Emirati student offers solution to combat global warming An Emirati student is blazing a trail for female participation in science with her pioneering research that aims to offer a cost-effective way to help combat global warming. Ayesha Abdulla Alkhoori, a PhD student of materials science and engineering at Khalifa University, was one of five women from across the GCC to be recognised by […] January 11, 2023
Construction Top UAE university launches tender to house students Companies have been invited to bid for a new public private partnership tender to deliver the accommodation and associated facilities for 3,250 students in Abu Dhabi. The Abu Dhabi Investment Office (Adio), in collaboration with Khalifa University, launched the tender as part of a framework for expanding the role of the private sector in delivering […] January 11, 2023
Real Estate Aldar to begin work on Yas Island sustainable city in Q2 2023 Construction of The Sustainable City – Yas Island will commence in Q2 2023, with the first handover of units expected in Q4 2025, according to a statement issued by Abu Dhabi-listed Aldar Properties. Announced in January 2022 during Abu Dhabi Sustainability Week, the project is a joint development with Dubai-based Diamond Developers. The Sustainably City […] January 8, 2023
Economy Mubadala and Alpha Dhabi to capitalise on discounted assets The move by Alpha Dhabi and Mubadala to join forces and co-invest in credit opportunities does not pose a significant threat to traditional banking structures. Instead, according to Rachel Ziemba, founder of geo-economic advisory firm Ziemba Insights, it will act as a valuable tool to “look for early-stage investments and perhaps pick up assets at […] January 6, 2023
Analysis Health & Wellness Pharma giants move in on UAE as demand stretches local firms AstraZeneca and G42 Healthcare have signed an agreement to locally manufacture pharmaceuticals in Abu Dhabi. The agreement outlines collaboration in four key areas, including localisation of manufacturing, research and development, innovation and sustainability at a global scale. But while the deal aims to cement Abu Dhabi’s position as a hub for research and innovation in […] December 21, 2022
Agriculture Abu Dhabi’s Dana turns focus on Moroccan agtech solutions Dana Global, a desert tech venture builder and investment platform based in Abu Dhabi, is partnering with Agadir Horticultural Complex to help transform agriculture in Morocco. The Agadir region forms the heart of Morocco’s agricultural industry and provides 9 percent of national GDP while processing 90 percent of the country’s fresh produce market. The region […] December 21, 2022
Construction French consortium given Abu Dhabi road lighting LED project A French consortium has been selected to deliver a public private partnership project in Abu Dhabi as the region continues to mature as a hub for PPPs. The Abu Dhabi Investment Office (Adio), in collaboration with the Department of Municipalities and Transport, has selected EDF (Eléctricité de France) and Engie to deliver phase 2 of […] December 19, 2022
Logistics Khalifa Port’s owner unveils $1.1bn expansion The AED4 billion ($1.1 billion) expansion of Khalifa Port in Abu Dhabi was inaugurated on Tuesday, 10 years after the port opened. Sheikh Mohamed Bin Zayed Al Nahyan, the UAE’s president, described the expansion as a major national project that “will further enhance the UAE’s position in the global trade”. The launch comes at the […] December 13, 2022
Development Bill Gates hails UAE president’s action on Covid and polio Bill Gates has praised his foundation’s partnership with Sheikh Mohamed Bin Zayed Al Nahyan, the UAE’s president, for its progress in tackling Covid-19 and polio. The philanthropist and Microsoft co-founder told an event in Abu Dhabi on Sunday: “We’ve worked with the [UAE] president on a number of things – he has been very generous […] December 13, 2022
Exclusive Agriculture Irish aviation tycoon to help grow Gulf agtech startup Irish entrepreneur Dómhnal Slattery, best known for scaling companies in the aviation sector, has been appointed a special adviser to one of the Gulf’s biggest startups, and is open to more potential investments in the region. Pure Harvest Smart Farms, the agtech startup based in Abu Dhabi, in July raised $180 million in funding from […] December 12, 2022
Analysis Energy Adnoc chasing global growth with latest venture Abu Dhabi National Oil Company (Adnoc) is creating a dedicated unit for low carbon solutions and international business. It is an attempt to monetise the decarbonisation strategy mandated to it by its board and the wider UAE government. But the company must ensure that any future overseas work does not cannibalise that of the Abu […] December 7, 2022
Banking & Finance MAF clinches $1.25bn sustainability-linked loan UAE-based retail group Majid Al Futtaim (MAF) has secured its second sustainability-linked loan as part of its strategy to become ‘net carbon positive’ by 2040. The $1.25 billion-equivalent revolving credit facility with First Abu Dhabi Bank was agreed on Monday. MAF, which owns and operates 29 shopping malls across the Middle East and Africa as […] December 5, 2022
