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Abu Dhabi

One of Gecko Robotics' wall-climbers with the data it sends

US robot maker in talks over Abu Dhabi factory

Gecko Robotics, a US maker of robots that inspect the infrastructure of buidings, vehicles and other physical assets, is in talks to open a factory in Abu Dhabi. The company has also raised $100 million as part of a Series C funding round. Gecko, which uses AI-powered software and advanced robotics, set up its international […]

The UAE is proving attractive to blockchain companies

Tax-friendly UAE beckons blockchain businesses 

The UAE is becoming a preferred destination for blockchain technology companies, ranking third globally as a crypto centre, according to a survey. Immigration consultancy Henley & Partners used six criteria to arrive at a global ranking and placed Singapore first because of its government’s close cooperation with banks, businesses and the public in developing its […]

Bassel Al Khawaja, advisory head at Abu Dhabi IPO Fund, said the fund is looking forward to launching more IPOs for family businesses and private companies

Abu Dhabi IPO Fund plans up to four listings by 2024-end

Abu Dhabi can expect up to four further listings of private companies by the end of 2024, according to Bassel Khawaja, advisory head of the Abu Dhabi IPO Fund. Speaking on the sidelines of Abu Dhabi Finance Week (ADFW), Khawaja told AGBI the fund is currently assisting three unnamed companies with their IPO readiness.  He […]

Sheikh Khaled, the crown prince of Abu Dhabi, at the AI71 launch

Abu Dhabi sets up business to leverage AI expertise

Abu Dhabi’s Advanced Technology Research Council has set up a company that aims to capitalise on the emirate’s growing expertise in artificial intelligence. The business, AI71, will build on Falcon, the open-source AI developed in Abu Dhabi. The Falcon 7B, 40B and 180B large language models (LLMs) – tools capable of digesting large amounts of […]

City, Metropolis, Urban

Brevan Howard to double Abu Dhabi headcount

Brevan Howard, one of the world’s biggest hedge funds with assets exceeding $33 billion, is to double its workforce in Abu Dhabi next year. The UK company initiated its Middle East expansion by opening an office in Abu Dhabi Global Market in February, joining an increasing number of hedge funds drawn to the region’s substantial […]

Suit, Clothing, Overcoat

Politicians lack will for climate action, says ex-chancellor

Former UK chancellor Sajid Javid has suggested that Western politicians lack the will to follow through on climate commitments – because the costs of energy transition can be unpopular with voters. Speaking in the UAE just three days before the Cop28 summit begins in Dubai, Javid said the cost of living crisis had pushed climate […]

A direct-air capture plant in California. Adnoc is working on DAC and other forms of carbon storage in the UAE and abroad

Adnoc seeks to turn carbon capture into revenue stream

In the mountains of Fujairah, in the north of the UAE, an industrial site built by Adnoc sucks carbon directly from the air and converts it into rock. The CO2 is injected into the Hajar mountains, where the peridotite rock is capable of sequestering the greenhouse gas, thanks to technology developed by 44.01, an award-winning […]

Abu Dhabi recorded transactions from 6,494 newly registered resident investors and 630 non-resident investors in the first nine months of 2023

Abu Dhabi real estate deals soar to new high of $18.5bn

Real estate transactions in Abu Dhabi hit a new high of AED 67.76 billion ($18.45 billion) in the first nine months of 2023, propelled by rising demand from local and international investors. Buying, selling and mortgage activities across the real estate sector rose 56 percent year on year, Abu Dhabi Media Office reported, citing data […]

The possible deal with Adnoc could value German oil and gas producer Wintershall Dea at more than $11bn

Adnoc considers buying German oil and gas producer

State-owned Abu Dhabi National Oil Company (Adnoc) is exploring a potential acquisition of Wintershall Dea, the European energy business backed by BASF SE. The possible deal could value Wintershall Dea, a German gas and oil producer, at more than €10 billion ($11 billion), the news agency reported, citing informed sources.  UK-listed Harbour Energy Plc is […]

Lucy Frazer is likely to conduct a public interest test on the Telegraph bid

UK regulator likely to review Telegraph bid

Lucy Frazer, UK secretary of state for culture media and sport, has written to an Abu Dhabi-backed consortium warning that that she is likely to subject its bid for a leading British newspaper group to a public interest test.  RedBird IMI, led by Jeff Zucker, a former president of CNN, has submitted a bid for […]

PureHealth has this year acquired Circle Health Group in the UK and Ardent Health Services in the US

PureHealth plans to launch IPO on Abu Dhabi exchange

Healthcare provider PureHealth Holding has announced plans to launch an initial public offering (IPO) on the Abu Dhabi Securities Exchange to fuel its global expansion efforts. The listing, likely to be in December, is subject to regulatory approvals, the UAE state-run Wam news agency reported. Existing shareholders are Alpha Dhabi Holding and International Holding Company […]

When all four reactors are online the $32bn Barakah plant is set to generate 5.6GW of power

Licence granted for fourth reactor at Abu Dhabi’s Barakah

The UAE’s regulator has issued an operating licence for the final reactor at the Barakah nuclear power plant in Abu Dhabi. The 60-year licence, awarded by the Federal Authority for Nuclear Regulation (FANR), will allow operating company Nawah to commission and operate Unit 4. Nawah’s application was submitted six years ago, the regulator said. Hamad […]

Architecture, Building, Car

NMC Health censured by UK financial authority

UAE healthcare operator NMC has been censured by the UK Financial Conduct Authority (FCA) for misleading the market to the tune of $4 billion. Founded by Indian businessman BR Shetty in the mid-1970s, NMC ran into difficulties after short-seller Muddy Waters called into question its financial reporting and doubts emerged over the size of stakes […]

The Al Dhafra solar plant in Abu Dhabi covers 20 sq km and can power 200,000 homes

UAE opens world’s largest single-site solar plant

The UAE’s Al Dhafra project – described by its developers as the world’s largest single-site solar power plant – has been formally inaugurated, with an annual production capacity of 2 gigawatts (GW).  The Al Dhafra solar PV (photovoltaic) plant is located 35 kilometres from Abu Dhabi’s capital city. It can generate enough electricity to power […]

Max Verstappen celebrates victory at the 2022 Abu Dhabi Grand Prix

F1 promoter predicts strong turnout for Abu Dhabi GP

The promoter of the Abu Dhabi Grand Prix is predicting strong attendance for this month’s race despite the continuing conflict in Israel and Gaza. Several events in the UAE and across the Middle East have been cancelled or postponed because of the war, but Formula One’s governing body has dismissed speculation that the final race […]

ADIB headquarters building ADIB’s earnings increased by almost half during the first nine months of 2023

ADIB expects profits to keep rising after stellar year

Abu Dhabi Islamic Bank’s net profit margin will expand further, according to its group chief financial officer Mohamed Abdelbary. The sharia-compliant lender has enjoyed a bumper first nine months of 2023 in which its earnings increased by nearly half. “We’ve managed to capitalise on the increase in interest rates in the market because of the […]

Woman in forest with sun shining

Adnoc says revised emissions target is ‘strong step’ forward

Adnoc, the Abu Dhabi National Oil Company, aims to be “net-zero operations” in terms of greenhouse gas emissions by 2045, five years earlier than originally planned. The government-owned energy company is investing billions of dollars to cut its in-house carbon emissions. Crucially, its targets exclude emissions created by customers consuming its oil and gas, although […]

An Adnoc petrol station in Sharjah. The oil giant aims to raise production capacity to 5m barrels per day

Hydrocarbon has role in ‘fair’ energy transition, says Adnoc

Adnoc believes hydrocarbons will play a role in the energy transition despite their contribution to climate change, the Abu Dhabi state oil company has told AGBI. “All credible energy outlooks” show that “both renewable and conventional energy will continue to be needed to ensure a fair and responsible energy transition,” said a spokesperson. “We recognise […]

Abu Dhabi street with traffic

Abu Dhabi could be trailblazer for autonomous cars

Abu Dhabi will be one of the first cities in the world to introduce autonomous vehicles en masse, according to the CEO of tech firm Bayanat. Bayanat uses artificial intelligence to provide geospatial data products and services. It is running a pilot scheme in the UAE capital, introducing eight autonomous vehicles, four minibuses and more […]

Flight bookings to Saudi Arabia and the UAE for the last quarter of this year are up by as much as 71 percent on pre-pandemic levels

Saudi Arabia and UAE drive air travel recovery

Flight bookings to Saudi Arabia and the UAE for the last quarter of this year are up by as much as 70 percent on pre-pandemic levels, new figures reveal.  Data compiled exclusively for AGBI by the travel intelligence company ForwardKeys shows that as of early October, Saudi Arabia led the region for growth in seat […]

Core42, which was launched by G42 in Abu Dhabi last month, has announced its new AI Arabic language model called Jais30B

Core42 unveils advanced Arabic language AI model

A new version of a deep learning algorithm capable of translating or generating Arabic text was unveiled in the UAE this week. Jais30B, which features 30 billion parameters, was introduced by Core42, a G42 company based in Abu Dhabi. “With 160 percent longer answers in Arabic and a 233 percent increase in English, the platform […]

Wind turbine against blue sky with blurred green foreground greenwashing environment Video length: 04:43
  • Video

Masdar City exec: Let’s talk about greenwashing

Greenwashing – a deceitful marketing gimmick where companies exaggerate their environmental actions – is “egregious” as it takes advantage of a movement that affects everyone on earth, according to Bill Weir, CNN’s chief climate correspondent.  A recent global survey conducted by US-based The Harris Poll and sponsored by Google Cloud found that six out of […]