Markets Masdar IPO could help accelerate Gulf’s energy transition An initial public offering by Abu Dhabi’s Masdar could mark a pivotal moment in the move towards cleaner sources of power in not only the world’s largest oil-producing region, but also in Europe, industry observers say. Masdar, more officially known as the Abu Dhabi Future Energy Co, is considering an IPO next year to fund […] March 28, 2025
Real Estate Emaar’s overseas units struggle to match home gains Dubai real estate developer Emaar Properties is doing well at home but its international operations – notably in India – are more chequered. Last year, Emaar posted a near 50 percent increase in earnings to AED5 billion ($1.4 billion). Its shares on the Dubai Financial Market are up 5.5 percent so far this year. By […] March 28, 2025
Oil & Gas Adnoc’s XRG seals a 10% stake in African gas projects XRG, the low-carbon energy and chemicals investment arm of Abu Dhabi National Oil Company (Adnoc), has completed its acquisition of a 10 percent stake from Portugal’s Galp Energia in the Rovuma basin concession in Mozambique. The Rovuma basin, one of the largest gas discoveries in the past 15 years, offers XRG access to liquefied natural […] March 28, 2025
Real Estate Mubadala puts more money in US commercial lender Abu Dhabi’s Mubadala Investment Company has increased its investment in 3650 Capital, a US commercial real estate lender. The UAE sovereign fund and California State Teachers’ Retirement System (CalSTRS), a pension fund, two existing investors, have invested $215 million to allow the US lender to broaden its investment products, 3650 Capital said in a statement. […] March 28, 2025
Analysis Tourism Demand for luxury keeps Dubai hotel openings upscale Dubai’s traditional love of luxury hotels shows no signs of slowing. Five-star hotel openings dominated the sector in 2024, although industry experts insist mid-range and budget segments remain vital to the emirate’s long-term hospitality growth. Last year, nearly two-thirds of new hotel rooms added in 2024 were in the luxury and upper upscale segments, according […] March 27, 2025
Opinion Media & Advertising Why we launched The Crypto Radio in Dubai – and what we’ve learned Our thinking remained that Dubai was still the perfect place for The Crypto Radio's main hub March 27, 2025
Real Estate Tabreed explores buying Multiply’s cooling business National Central Cooling Company, also known as Tabreed, is exploring a bid for Multiply Group’s district cooling business that could be worth at least $1 billion, two sources with knowledge of the matter told Reuters. Dubai-listed Tabreed is working with Citi on the potential offer for Multiply’s PAL Cooling Holding (PCH), said the two sources. […] March 27, 2025
Tech MGX buys stake in Dubai’s Khazna Data Centers UAE technology investment company MGX and US private equity company Silver Lake have bought a minority stake in Dubai-based Khazna Data Centers. Following the deal, UAE telecommunications company e& – formerly known as Etisalat – has exited from its investment in Khazna but remains a major business partner, Khazna said in a statement. Transaction and financial […] March 27, 2025
Construction Drake & Scull swings to $1bn profit post-restructuring Drake & Scull International turned a profit last year following the completion of its restructuring plan. The contracting company, which trades on the Dubai Financial Market, swung to a net profit of AED4 billion ($1 billion) last year, compared to a net loss of AED367 million in 2023. Revenue marked a 20 percent rise to […] March 27, 2025
Finance UAE’s $1.4trn US pledge is political positioning, experts say The UAE’s pledge to invest $1.4 trillion in the US over the next 10 years is about political positioning rather than exact numbers, according to experts. The country committed to a 10-year $1.4 trillion investment in AI infrastructure, semiconductors, energy and American manufacturing during a meeting in Washington last week, according to a White House announcement. […] March 27, 2025
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
Banking and 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
