Markets Abu Dhabi, Bahrain stock markets in talks for ‘strategic partnership’ Officials from Abu Dhabi Securities Exchange (ADX) and Bahrain Bourse (BHB) this week held meetings to discuss developing a strategic partnership to enhance greater cross-border cooperation between the two stock market exchanges. The discussions build on a cooperation agreement signed in November 2021, which aims to achieve synergies, enhance market liquidity and promote innovative products […] May 20, 2022
Banking & Finance Alpha Dhabi puts $2.51bn into ‘disruptive tech’ Alpha Dhabi Holding, the fourth most valuable listed company in Abu Dhabi, has made a AED9.2 billion ($2.51 billion) commitment to invest in UAE asset management company Chimera Capital and Chimera’s Alpha Wave Ventures II fund. The move is part of its strategy to target fast-growing technology companies. The total commitment comprises a capital contribution […] May 19, 2022
Exclusive How technology is transforming the UAE-UK trade relationship A quick look at the latest UAE-UK trade figures might give the impression that the centuries-old relationship isn’t what it used to be. But dig a little deeper and the figures – down sharply from close to £18 billion in 2018-2019 to £12.3 billion in the year to last September – can be explained by […] May 19, 2022
Analysis Energy Abu Dhabi’s $2bn green energy splash will deepen India ties Abu Dhabi-based International Holding Company PJSC’s (IHC) AED 7.3 billion ($2 billion) investment in Indian multinational conglomerate Adani Group takes the UAE-India partnership to “a different level” with more deals on the horizon, market observers said. IHC provided capital to Adani Green Energy, Adani Transmission, and Adani Enterprises, which are all listed on the Bombay […] May 18, 2022
Energy Borouge to sell 10% of shares in IPO as it lists on ADX Abu Dhabi National Oil Company (ADNOC) and its Austrian chemicals partner Borealis AG are planning an initial public offering (IPO) of their petrochemicals joint venture Borouge on the Abu Dhabi Securities Exchange (ADX). Borouge, a specialty plastics firm that produces polyolefins used in items such as cars and food packaging, said its offering will consist […] May 18, 2022
Sheikh Khalifa Remembered Sheikh Khalifa, ‘master statesman’ who put UAE on the map Analysts pay tribute to the visionary leader who transformed his region “The UAE is almost unrecognisable from 20 years ago and has developed into a vibrant and dynamic place where individuals and businesses can flourish,” according to Scott Livermore, chief economist at research group Oxford Economics Middle East. That is the legacy of Sheikh Khalifa […] May 16, 2022
People & Lifestyle Biden sends all-star team to UAE to repair frayed ties President Joe Biden is sending an all-star US delegation to the United Arab Emirates on Monday to offer condolences after the death of its ruler, in an apparent bid to step up efforts to repair frayed ties with Gulf Arab allies. Washington’s desire to improve ties with Gulf monarchies has gained renewed urgency following Russia’s […] May 16, 2022
Analysis MbZ: the man, the leader and the economic vision The new president of the UAE is set to continue to build on the progress he has made as de facto leader in recent years The UAE is expected to “unswervingly continue” to implement its vision to build a sustainable knowledge-based economy for generations to come under the leadership of President Sheikh Mohamed bin Zayed […] May 16, 2022
World leaders visit UAE to greet new ruler, mourn Sheikh Khalifa World leaders arrived in the United Arab Emirates on Sunday to offer condolences on the death of President Khalifa bin Zayed al-Nahyan, who has been succeeded by his half-brother Sheikh Mohamed bin Zayed. Sheikh Mohamed, now ruler of Abu Dhabi, had been de facto leader of the Western-allied Gulf state, an OPEC oil producer and […] May 16, 2022
Sheikh Khalifa Remembered In pictures: Sheikh Khalifa laid to rest in Abu Dhabi Sheikh Khalifa bin Zayed was laid to rest Friday evening following his passing, aged 73. Sheikh Mohamed bin Zayed al-Nahyan, who was elected president of Abu Dhabi by a federal supreme council yesterday, led senior leaders in prayer. The funeral took place at Al Bateen cemetery. Sheikh Khalifa’s body was carried to its final resting […] May 15, 2022
Sheikh Mohamed named new President of the UAE The UAE’s de facto leader Sheikh Mohamed bin Zayed al-Nahyan was elected president of the Gulf Arab state by a federal supreme council on Saturday. The council, which groups the rulers of the seven emirates of the UAE federation, elected Sheikh Mohamed, known as MbZ, a day after the death of his half-brother, President Sheikh […] May 14, 2022
People & Lifestyle A lifetime of service by the President of the UAE Sheikh Khalifa bin Zayed Al Nahyan, ruler of Abu Dhabi, was elected President of the United Arab Emirates in November 2004, to succeed his father, the late Sheikh Zayed bin Sultan Al Nahyan, UAE President from 1971 to 2004. Sheikh Khalifa presided over a major restructuring of both the Federal Government and the government of […] May 13, 2022
Insight Food & Drink Ukraine war drives Gulf to double down on food security As the war in Ukraine has pushed up food prices and disrupted supply chains, hard-hit Mena countries explore ways to protect themselves In Abu Dhabi clusters of fresh tomatoes are growing inside rows of climate-controlled greenhouses in the middle of the desert – just one example of the lengths the arid region must go to […] May 12, 2022
Mubadala posts record $33bn income in 2021 Abu Dhabi state investor Mubadala posted a record income of 122 billion dirhams ($33 billion) in 2021, citing strong investment returns, the monetisation of some assets and new partnerships. “2021 was Mubadala’s strongest financial year in its 20-year history,” Group CEO Khaldoon Khalifa al-Mubarak said in a statement. The 2021 result for so-called total comprehensive […] May 12, 2022
Banking & Finance UAE’s first SPAC on launch pad as alternative to IPO Abu Dhabi’s ADC Acquisition Corporation (ADC), the UAE’s first special purpose acquisition company (SPAC), on Tuesday announced its initial public offering (IPO) subscription period will start on Thursday. Shares will be available for purchase to retail and professional investors in a public subscription in the UAE and listed on the Abu Dhabi Securities Exchange (ADX). […] May 11, 2022
Business of Sport Abu Dhabi nets its first NBA games The Atlanta Hawks and 2021 NBA champions the Milwaukee Bucks will play preseason games at Etihad Arena on Yas Island in October May 10, 2022
Exclusive Tourism Will Abu Dhabi’s new tourism vision drive international influx? Saadiyat Island, the cultural centrepiece of Abu Dhabi’s tourism offering, has unveiled a new vision which seeks to attract 19 million visitors and contribute AED 4.2 billion ($1.1 billion) in direct revenue by 2025. The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) and developer Miral unveiled the new strategy to support […] May 10, 2022
Banking & Finance Wio appoints execs to drive digital banking push Wio Bank, a new digital banking platform established in the UAE, today announced senior leadership appointments following its licence approval by the UAE Central Bank. Salem Al Nuaimi has been named chairman of the board and Jayesh Patel has been appointed as CEO. Wio is jointly owned by Abu Dhabi Holding Company (ADQ), Alpha Dhabi, […] May 10, 2022
Tech Make it happen: How to digitally transform your business Here is the first of our monthly guides to harnessing global trends with a razor-sharp regional focus May 10, 2022
Opinion Tech Will Dubai win the Web3 race? The co-founder of Tahseen Consulting, one of the MENA’s top tech policy firms, rates Dubai’s chances of becoming a hub for the decentralised web and crypto exchange May 10, 2022
Lifestyle Who is Lord Udny-Lister? Edward Julian Udny-Lister is a special adviser to the UK government, a political strategist and former politician. One of Boris Johnson’s closest aides, Udny-Lister served as Downing Street chief of staff from 2019 to 2021, primarily advising on strategy. He was the deputy mayor of London for policy and planning between 2011 and 2016 – […] May 10, 2022
Exclusive Interviews UK-Gulf deal will be ‘tough nut to crack,’ says top Johnson ally The co-chairman of the UAE-UK Business Council and former chief strategic adviser to Prime Minister Boris Johnson says the upcoming UK-Gulf trade agreements could be delayed but bilateral opportunities remain immense Lord Udny-Lister, co-chairman of the UAE-UK Business Council and one of Boris Johnson’s closest political allies, cuts a distinguished figure amid the sumptuous surroundings […] May 10, 2022
