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Abu Dhabi

Business news and financial news today from Abu Dhabi, covering major Abu Dhabi companies including Mubadala, Adnoc and Masdar.

Zach Witkoff was on a panel with Eric Trump at the Token2049 crypto event taking place in Dubai

Abu Dhabi’s MGX to use Trump stablecoin for Binance deal

A stablecoin linked with President Donald Trump will be used by Abu Dhabi’s MGX as part of the technology company’s $2 billion investment in Binance, the world’s largest cryptocurrency exchange, it was announced on Thursday. MGX announced a minority investment in Binance in March.  Zach Witkoff, co-founder of World Liberty Financial, a cryptocurrency holding company […]

Wind power in Chalkewadi, Maharashtra. India is aiming for 500 GW of renewable energy by 2030

Alterra part of $100m buy-in for Indian renewable energy company

Alterra, the UAE’s $30 billion climate fund, has partnered with investors including Canada-based investment company Brookfield Asset Management, to co-invest $100 million in Indian renewable energy company Evren.  The investment aims to bolster Alterra’s clean energy portfolio and accelerate India’s push toward 500 gigawatts (GW) of installed renewable capacity by 2030, it said in a […]

UAE national security adviser Sheikh Tahnoon bin Zayed Al-Nahyan, seen here with Donald Trump last month, leads stablecoin backer IHC

Abu Dhabi group creating dirham-backed stablecoin

Sovereign wealth fund Abu Dhabi Developmental Holding Co. is among a group of companies developing a cryptocurrency that will be linked to the UAE dirham currency. Better known as ADQ, the fund – together with the emirate’s International Holding Company (IHC) and First Abu Dhabi Bank (FAB) – will develop the stablecoin to be regulated […]

Adnoc is to sell more US LPG to India. LPG has a variety of uses, including as a cooking fuel.

Adnoc to supply US LPG to India following China-US tariffs

Abu Dhabi National Oil Company (Adnoc) will start replacing some of the liquefied petroleum gas (LPG) it supplies to India with cheaper US cargoes from June, industry sources said, as US-China tariffs rejig global trade flows. The move will enable Adnoc to ship more of its own LPG to China, where buyers are paying higher […]

ADCB said customer deposits rose 15 percent year on year to AED442 billion

ADCB records promising early year results

Abu Dhabi Commercial Bank (ADCB), the UAE’s third largest bank by assets, reported double-digit growth for the first quarter of 2025.  The bank cited an increase in operating income and growth across its core businesses.  Rated as the UAE’s strongest banking brand for the second consecutive year by Brand Finance, ADCB reported a net profit […]

Lake Park in Abu Dhabi. Aldar, the city's largest developer, says demand is strong for new and existing projects

Abu Dhabi developer Aldar reports $520m first quarter profit

Aldar Properties, Abu Dhabi’s largest real estate developer, has reported a rise in first-quarter profits driven by sales to international buyers. Net profit after tax increased 22 percent year on year to AED1.9 billion ($520 million). Revenue was up 39 percent to AED7.8 billion. Overseas investors and expatriates living in the UAE accounted for AED7.4 […]

Antonoaldo Neves, CEO of Etihad Airways, told Arabian Travel Market that US tariffs had not yet had an impact

‘I expect more Europeans to come’: Etihad chief shrugs off tariffs

Abu Dhabi’s Etihad Airways is not seeing any effects from the turmoil caused by US President Donald Trump’s tariff policies, its CEO Antonoaldo Neves told Reuters on Monday, while adding it was too early to fully gauge the impact of the levies. Trump’s announcement of sweeping tariffs on dozens of US trading partners this month […]

Hana Al Rostamani, group CEO of First Abu Dhabi Bank , which saw Q1 profits rise by 23%

First Abu Dhabi Q1 profit rises by nearly a quarter

First Abu Dhabi Bank (FAB) reported an increase in profits in the first quarter of this year, fuelled by higher revenue from its retail, wholesale and investment banking segments. FAB’s net profit rose 23 percent to AED5.1 billion ($1.4 billion) in the January to March period, while revenue saw an 11 percent growth to AED8.8 […]

Workers assemble electric scooters at Ather Energy's factory in Hosur, Tamil Nadu. Adia says it has an "extensive portfolio" of Indian investments

Adia invests in IPO of India’s Ather Energy

The Abu Dhabi Investment Authority (Adia) is among investors in the initial public offering of Indian electric scooter maker Ather Energy. Ather, India’s fourth-largest electric two-wheeler manufacturer, is seeking to raise around $360 million to fund expansion. The proceeds will be used to build a new manufacturing facility in the central western Indian state of […]

Sultan Al Jaber, the group CEO of Adnoc

Adnoc to raise $1.5bn with Islamic bonds

Abu Dhabi state oil giant Adnoc will raise $1.5 billion from a debut sale of Islamic bonds, or sukuk, according to a document seen by Reuters on Monday. Abu Dhabi National Oil Company, acting through its primary debt capital markets entity Adnoc Murban, is selling the sukuk at 60 basis points over US Treasuries, the […]

Property deals in Abu Dhabi rose sharply in the first quarter, including foreign investment

Value of Abu Dhabi property deals up by a third in Q1

Abu Dhabi recorded strong real estate activity in the first quarter of 2025 as property deal value grew by around a third annually to AED25 billion ($7 billion) across 6,896 transactions. The value of sales and purchases rose 27 percent to AED15.5 billion, while the volume grew by 11 percent to 3,819, according to the […]

Ali Osman, chief investment officer at MGX

Abu Dhabi AI chief bullish over future investment

Investment in artificial intelligence is at “a crossroads” as the build-out of underlying infrastructure, such as data centres, demands trillions of dollars more in capital, according to Abu Dhabi’s technology fund MGX. Ali Osman, MGX’s chief investment officer for AI, said on Friday that he remains optimistic about “tremendous” growth in this space even amid […]

Mubadala CEO Khaldoon Al Mubarak said the wealth fund is taking more time to look at investments

US-driven trade war forces Mubadala to change ‘assumptions’

Abu Dhabi sovereign wealth fund Mubadala Investment Company said it will take more time to consider its investments and is changing its “base case assumptions” against the backdrop of heightened global trade tensions driven by the US. The fund, which has more than $300 billion of assets under management in over 50 countries around the […]

Adani loan: First Abu Dhabi (FAB) Bank blue wide angle storefront on a blue sky sunny day

First Abu Dhabi among banks for Adani’s $750m loan

India’s Adani Group is in discussions with a group of lenders including First Abu Dhabi (FAB) bank to secure a loan of as much as $750 million for its airport division. The other lenders are Barclays and Standard Chartered Bank, Bloomberg reported this week, without identifying its sources. The funds raised will be used to […]

3A5CD31 Multiracial family of three seated together on couch enjoying TV time in cozy living room adorned with plants and artwork

Starzplay reports record growth driven by AI

Abu Dhabi-backed streaming platform Starzplay said it made record revenue last year, passing $100 million for the first time, supported by “artificial intelligence content discovery.” In 2022, the Abu Dhabi-based ADQ and a unit of federal telecommunications company e& (formerly Etisalat) bought a majority stake in Starzplay for $420 million. Since then revenue at the […]

New York's Fortress Investment Group has entered into a deal with Abu Dhabi's Mubadala

Mubadala and Fortress form $1bn private credit partnership

Abu Dhabi’s Mubadala Investment Company has entered into a $1 billion strategic partnership with New York-based Fortress Investment Group to invest in private credit, the companies said on Thursday. Private credit has expanded in recent years, attracting investments from some of the world’s largest asset managers, as stricter regulations make it more expensive for traditional lenders to finance riskier […]

A drive-through ADIB ATM in Ras al Khaimah, UAE. The bank is ranked as the Middle East's 12th most valuable lender

ADIB profit up 18% on increased lending and fee income

Abu Dhabi Islamic Bank (ADIB) reported a double-digit growth in net profit for the first quarter, on the back of an increase in lending and income from fees and commissions. The bank, which is ranked by Forbes as the Middle East’s 12th most valuable lender, reported a net profit after tax of AED1.7 billion ($463 […]

An LNG carrier. A tariff war with the US has pushed Chinese buyers to resell US-sourced cargoes and secure new supply deals

Adnoc strikes another LNG deal with Chinese energy major

China National Offshore Oil Corporation (Cnooc) has agreed a term deal to buy liquefied natural gas from Abu Dhabi National Oil Company (Adnoc), according to two Chinese trading sources and a state media report. It is the third supply contract Adnoc has signed with Chinese buyers recently, following the deals over the weekend with ENN […]

Programming, data center and a man with a laptop for maintenance, cyber security and internet check

Khazna builds data centres to plug UAE capacity shortage

State-controlled Khazna, the UAE’s largest data centre operator, has started building two new facilities to support the federation’s digital and artificial intelligence (AI) growth as the Gulf state grapples with a capacity shortage.  Originally owned by Abu Dhabi’s Mubadala sovereign wealth fund, Khazna was in 2022 transferred to the emirate’s G42 and e&, the national […]

ADIB says its new sukuk platform "makes ethical, fixed-income investing easier and more inclusive”

Fractional sukuk platform launched by UAE bank

Sukuk investing in the Gulf has long been the preserve of institutional and wealthy investors because of a six-figure minimum investment threshold, effectively excluding ordinary people from buying sharia-compliant bonds directly. Now though, Abu Dhabi Islamic Bank (ADIB) has launched an investment platform, Smart Sukuk, on which retail investors can buy so-called fractional sukuk for […]

Bahrain's alternative investment manager, Investcorp, is among the potential suitors for PAL Cooling Holding

More suitors vie for Abu Dhabi’s district cooling business

KKR and I Squared Capital are among global asset managers bidding for a district cooling business owned by Abu Dhabi’s Multiply Group, part of a $1.5 trillion empire overseen by one of the UAE’s most powerful sheikhs. District cooling plants, which deliver chilled water via insulated pipes to cool offices, industrial and residential buildings, have […]

Adnoc CEO Sultan Al Jaber attended the opening of the company's new Beijing office on Friday

Chinese energy companies sign LNG deals with Adnoc

China’s privately controlled ENN Natural Gas and state-run Zhenhua Oil have each signed deals to buy liquefied natural gas from Abu Dhabi National Oil Company (Adnoc). ENN Natural Gas said on its official WeChat account on Saturday that the deal covers annual supplies of about 1 million metric tonnes for 15 years, marking Adnoc’s largest LNG […]