Sustainability 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
Sustainability 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
Sustainability 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 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
Tech 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
Infrastructure 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 Tech 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
Analysis Banking & Finance Abu Dhabi VC eyes booming Indian economy Abu Dhabi-based Indian venture capital (VC) firm AUM Ventures has launched a $30 million fund to offer international investors access to tech, tech-enabled and consumer startups in India. The early and pre-growth stage VC firm, which has offices in Abu Dhabi, Bangalore and Mumbai, is licensed and regulated by Abu Dhabi Global Market (ADGM). The […] December 5, 2022
Analysis Real Estate UAE offices filling up as research says more prime space needed The return of employees to the workplace and rising business confidence are driving up demand for top-quality office space across Dubai and Abu Dhabi, according to new research. “Businesses feel good about life right now and demand for office space is rising across the board,” said Faisal Durrani, partner and head of Middle East research […] November 28, 2022
Analysis Manufacturing Abu Dhabi’s industrial strategy helps to lift GDP When US aerospace firm Triumph agreed to set up the Middle East’s first engine accessory repair and overhaul centre by 2024, it became the latest in a growing list of international companies attracted to Abu Dhabi. Supplement manufacturer Thorne, petrochemical services provider Elliot Group and biopharma firm OnePointOne are waiting in the wings as Abu […] November 28, 2022
Exclusive Health G42 Healthcare executive hails new era after Amazon tie-up “We want to reach everywhere at scale and at speed.” Many business leaders might say so, but when Dr Fahed Al Marzooqi, chief operating officer of G42 Healthcare, tells AGBI this, he has good reason. G42 Healthcare, a subsidiary of Abu Dhabi-based AI firm G42, recently struck a deal with Amazon’s cloud computing arm – […] November 23, 2022
Player 2 has entered the game – Mena eyes $5bn e-sports prize Sunday was a big day for sports fans in the Middle East. With the eyes of the media trained on the World Cup opener in Qatar and the final race of the Formula One season in Abu Dhabi, it was easy to overlook the e-sports grand final taking place in Dubai. It would be wise […] November 22, 2022
Banking & Finance Abu Dhabi-backed fund buys into UAE’s booming pet care industry Aliph Capital, the Gulf’s first female-led private equity firm, has entered the UAE’s booming pet care industry with its first deal. The fund, which raised $125 million last month from Abu Dhabi sovereign wealth fund ADQ, has bought The Pet Shop, the largest retailer of pet food and accessories in the UAE, from Kasamar Holdings. […] November 17, 2022
Banking & Finance Binance CEO says ‘shaken’ crypto market needs ‘a lot more’ scrutiny Confidence in the crypto industry has been “shaken” and it needs to open up to “a lot more” oversight from regulators, the chief executive of the world’s largest cryptocurrency exchange has said. Changpeng Zhao, the CEO and co-founder of Binance, added that the crypto sector should adopt some regulations from the traditional finance industry. Zhao’s […] November 17, 2022
Analysis Abu Dhabi’s ADIO signs up Israeli fintechs as bilateral trade rises Two Israeli companies have joined Abu Dhabi Investment Office’s $545 million Innovation Programme, with industry watchers predicting that many more will follow as ties strengthen between the country and the UAE. ADIO is working with fintech company Liquidity Group to establish an R&D centre in Abu Dhabi. The facility will develop Liquidity’s proprietary underwriting algorithm […] November 16, 2022
