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Abu Dhabi

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 […]

The partnership aims to find - and nurture - skills in areas such as AI and machine learning
  • Analysis

New deal allows Abu Dhabi to tap into global tech talent pool

Abu Dhabi’s latest partnership agreement, part of its $545 million Innovation Programme, will help address urgent skill shortages in the technology sector and widen access to the global talent pool. The Abu Dhabi Investment Office (ADIO) yesterday announced a partnership with global in-house centre consulting firm ANSR and artificial intelligence-powered talent sourcing platform Talent500. ADIO […]

Malek Al Malek, the chairman of TECOM

Boom time as TECOM leads the Gulf IPO resurgence

As Dubai announced plans to sell a 12.5 percent stake in business park operator TECOM today – its second public offering this year after Dubai Electricity and Water Authority (DEWA) – Middle Eastern bourses have generally defied the downward international trend with increases in trading activity and values amid a robust pipeline of initial public offerings […]

Abu Dhabi invests in Swedish fintech’s $100m funding round

Swedish fintech firm Juni has raised $100 million in a funding round led by Abu Dhabi state investor Mubadala, and another $106 million in venture debt financing from Silicon Valley-based TriplePoint Capital. Juni’s existing investors – EQT Ventures, Felix Capital, Cherry Ventures and Partners of DST Global – also participated in the funding round. Getting […]

Person, Human, Clothing

South Korean companies to build $1bn green hydrogen plant in UAE

Three South Korean companies have signed an agreement to build a $1 billion green hydrogen and ammonia production plant in the United Arab Emirates, their UAE partner said on Friday. Korea Electric Power Corporation, Samsung C&T Corporation and Korea Western Power, alongside the UAE’s Petrolyn Chemie, will build a plant that can produce up to […]

Streaming service Starzplay planning to go public

Starzplay Arabia, an Abu Dhabi-based streaming platform, expects to go public in the next two or three years, its chief executive said on Thursday. Starzplay is among the global and regional streaming players vying for a share of the burgeoning Middle East market, hoping to tap into the region’s large youth population and take advantage […]

Abu Dhabi leads $725m fundraising by US insurance broker

Acrisure said on Tuesday it had raised $725 million in a fresh funding round led by a wholly owned subsidiary of Abu Dhabi Investment Authority, valuing the insurance brokerage at $23 billion. The company has benefited from a jump in global commercial insurance premiums that rose 11 percent on average in the first quarter, according […]

Bahrain’s GFH commences trading on Abu Dhabi bourse

Bahrain investment bank GFH Financial Group commenced trading today on the Abu Dhabi Securities Exchange (ADX) after the listing of its shares on the stock market under the ticker ‘GFH’. It marks the investment bank’s fourth regional listing; its shares are already listed and actively traded on the Bahrain Bourse, Boursa Kuwait and the Dubai Financial Market.  Today’s listing is set to further expand GFH’s […]

ADC, owned by Abu Dhabi state investor ADQ and Chimera Investment, will identify scalable businesses with strong management teams

Abu Dhabi’s first SPAC lists, raising $100m from share sale

Abu Dhabi’s first special-purpose acquisition company listed today, raising $100 million in the share sale, its co-owners said. ADC, owned by state investor ADQ and Chimera Investment, will identify scalable businesses with strong management teams and acquire one or more businesses, the statement said. Shares of ADC were trading at 10.50 dirhams, up from an […]

Abu Dhabi to allow investors to donate shares to charity

The Abu Dhabi Securities Exchange (ADX) has signed an agreement to allow investors to fund charitable causes by donating some of their shares. The agreement with Dubai’s Awqaf and Minor Affairs Foundation (AMAF) will see dividends from the shares donated used to fund a wide range of charitable causes, and investors can choose which charities […]

Smize Cream: ADIO initiative is helping US companies led by women and minority entrepreneurs expand in emirate

Supermodel Tyra Banks to launch ice cream brand in Abu Dhabi

Californian supermodel Tyra Banks has picked Abu Dhabi as the first international market outside the US to launch her global ice cream brand, Smize Cream, as part of a partnership with the Abu Dhabi Investment Office (ADIO). The 48-year-old entrepreneur made the announcement at the Access Granted talk series on Thursday, adding that she was […]