Opinion Trade UAE sharpens focus on China for business growth The relationship between the two countries is China's most robust in the Middle East March 26, 2025
Finance Adia-backed London insurer seeks funds for growth Ardonagh Group, a British insurance group backed by the Abu Dhabi Investment Authority (Adia), is reportedly close to raising $2.5 billion to fund its expansion. The London-based company will also use the funds for potential acquisitions, Bloomberg reported, citing unnamed sources. In December 2024, Adia and US private equity Stone Point Capital announced an investment in […] March 26, 2025
Logistics ADX-listed Agility targets $130m dividend payout Logistics company Agility Global has proposed a final dividend of $65 million for 2024, taking the total payout to $130 million, reflecting a healthy growth in earnings last year. The company paid a $65 million dividend in December 2024, with a further $65 million set to be approved at the upcoming general assembly for approval, […] March 26, 2025
Renewable Energy Masdar weighs IPO on Abu Dhabi stock exchange Abu Dhabi’s state-owned renewables company Masdar is in the early stages of considering an initial public offering (IPO), three people with knowledge of the matter told Reuters. The company is considering a possible listing in Abu Dhabi to raise funding for renewable projects, said two of the sources, with one of them saying a dual […] March 26, 2025
Tourism Abu Dhabi’s Adia buys stake in European Camping Group The UAE’s sovereign fund Abu Dhabi Investment Authority (Adia) has agreed to buy a significant minority stake in European Camping Group (ECG), a key player in the European outdoor hospitality sector, from private equity company PAI Partners. The deal, expected to close in the second quarter of this year, is subject to regulatory approvals, ECG […] March 25, 2025
Markets Cerebras IPO still in limbo over US fears on Abu Dhabi stake Worries in the United States over a stake by an Abu Dhabi company in Cerebras Systems, the US chipmaker, are continuing to leave its IPO in limbo, five sources familiar with the matter said. The sticking point for California-based Cerebras is the review by the Committee on Foreign Investment in the United States (CFIUS) of […] March 25, 2025
Real Estate UAE dominates UK overseas mortgage market Property buyers from the Middle East – particularly the UAE – are among the top international clients for UK mortgage brokers, according to new research. About 30 percent of 300 brokers surveyed by investment company Raw Capital Partners said they had arranged mortgages for clients from the Middle East and UAE over the past five […] March 25, 2025
Oil & Gas Taqa in talks to buy stake in Spanish utility Naturgy Abu Dhabi National Energy Company (Taqa) is reportedly in talks with Spanish private equity group CriteriaCaixa to acquire a stake in Naturgy Energy Group. Taqa chairman Mohamed Hassan Alsuwaidi recently met with an unnamed Criteria executive to discuss a potential deal, Bloomberg reported. Criteria, which holds 26.7 percent of €24 billion ($26 billion) Naturgy, has […] March 25, 2025
Artificial Intelligence Abu Dhabi tenders AI project to analyse genetic data The Abu Dhabi government has invited companies to bid for the development of an artificial intelligence system that would help doctors and researchers better interpret genetic data. The project calls for a large language model (LLM), the same type of AI technology that powers tools such as ChatGPT, to be trained on the Abu Dhabi […] March 24, 2025
Retail Majid Al Futtaim reports 6% profit drop as sales slow Shopping mall owner Majid Al Futtaim has reported a drop in profit for 2024, attributing the decline to lower retail revenue, a higher tax burden and currency devaluation in some of its international markets. Total revenue fell 2 percent to AED33.9 billion ($9.2 billion) and profit dropped 6 percent to AED2.5 billion in 2024, MAF […] March 24, 2025
Media & Advertising Warner Bros Discovery buys 30% stake in OSN Streaming Warner Bros Discovery (WBD) has bought a stake in a subsidiary of Dubai-based satellite TV company Orbit Showtime Network Group, in an attempt to tap into the rapidly expanding Middle Eastern streaming market. The US-based media and entertainment conglomerate will acquire a 30 percent stake in OSN Streaming for KD17.5 million ($57 million), Kuwait Projects […] March 24, 2025
Renewable Energy UAE’s Masdar expands renewable energy footprint Abu Dhabi renewable energy company Masdar invested nearly AED30 billion ($8.2 billion) in equity last year and secured more than AED16.5 billion in project financing across nine countries. The company, which is targeting a renewable energy portfolio capacity of 100 gigawatts by 2030, has developed and partnered in projects in more than 40 countries, the […] March 24, 2025
Oil & Gas UAE loses out as India opts for cheaper Russian naphtha The UAE, led by Abu Dhabi, has lost its position as India’s biggest supplier of the refined crude oil product naphtha as discounted Russian cargoes flood the market. Naphtha has many uses including as a precursor to gasoline and other liquid fuels, and as solvents or diluents for paints and the rubber industry. India is […] March 24, 2025
Renewable Energy Masdar weighs stake in TotalEnergies’ Portuguese assets Abu Dhabi renewable energy company Masdar is exploring the acquisition of a stake in French oil major TotalEnergies’ Portuguese renewables assets, three people with knowledge of the matter told Reuters. Any deal would likely be done through Saeta Yield, the green energy company Masdar bought last year from Canada’s Brookfield, one of the sources said. Reuters could not […] March 24, 2025
Finance UAE commits to $1.4trn investment framework in US The United Arab Emirates has committed to a 10-year, $1.4 trillion investment framework in the United States after top UAE officials met President Donald Trump this week, a White House official said on Friday. The new framework will “substantially increase the UAE’s existing investments in the US economy” in AI infrastructure, semiconductors, energy and American manufacturing, the […] March 21, 2025
Trade Gold exports to UAE surge on Trump tariff war Imports of physical gold from Switzerland to the UAE almost doubled month on month in February as investors turned to so-called safe haven assets against the backdrop of US President Donald Trump’s tariff war and diverging global interest rate policies. According to Swiss customs data 3,465kg of the precious metal was imported to the UAE […] March 21, 2025
Education Dubai Holding is a buyer of UK’s Nord Anglia schools Dubai Holding, the personal investment portfolio of the ruler of the emirate, is among a group of companies that bought the UK school operator Nord Anglia Education for $14.5 billion. Other investors include the Swedish investment group EQT and Neuberger Berman from the US. Nord Anglia operates more than 80 schools in 33 countries, educating […] March 21, 2025
Tourism People in UAE to take longer Eid al-Fitr breaks this year UAE residents are increasing the duration of their holiday break over Eid al-Fitr this year as celebrations ending Muslims’ Ramadan month of fasting coincide with the spring break for schools. The length of a typical Eid holiday this year may increase by half, up from an average eight days to 12, according to data supplied […] March 21, 2025
Opinion Leisure & Hospitality Ramadan transforms hospitality with quiet days and bustling nights The holy month acts as an annual stress test for the industry March 21, 2025
EXCLUSIVE Trade UK pushing for increase in business with UAE Britain is “very keen” to secure business in the aviation, hospitality and financial services sectors and elsewhere in Dubai and the wider UAE, a UK trade commissioner has told AGBI. A free trade agreement between the UK and the Gulf Co-operation Council, which includes the UAE, would support these opportunities for British companies, said Sarah […] March 21, 2025
