Oil & Gas Adnoc Drilling expands in Oman with SLB stake Adnoc Drilling, a subsidiary of Abu Dhabi state-backed oil major Adnoc, has bought a 70 percent share in SLB’s oil drilling business in Oman. The agreement includes six fully operational land rigs in Oman and two in Kuwait, the company said. The Emirati company will pay $91 million for the stake, with another $21 million payout […] June 2, 2025
Video length: 04:09 VIDEO Telecoms Veon boss reveals why the telco swapped Europe for Dubai Telecom and digital services company Veon delisted from the Amsterdam stock market last year and moved its operations to Dubai, becoming the largest Nasdaq-listed company with headquarters in the UAE. AGBI spoke to the company’s CEO, Kaan Terzioglu, about its plans to dual-list in Dubai within the next three to five years. “I am bullish […] June 2, 2025
Banking and Finance FAB shareholder seeks to raise $480m from secondary offering A shareholder of First Abu Dhabi Bank (FAB), the UAE’s biggest bank by assets, is offering around $480 million worth of shares via a secondary share sale, the bookrunner for the deal said on Friday. The selling shareholder, whose name was not disclosed, is offering around 113 million shares at a price of AED15.5 ($4.22) […] June 2, 2025
Oil & Gas Azerbaijan’s oil fund buys stake in Adnoc gas pipeline Azerbaijan’s state oil fund Sofaz has invested $50 million in Adnoc Gas Pipeline Assets (AGPA), one of the UAE’s critical energy assets. The investment has been made through a specialised investment fund managed by Abu Dhabi-based Lunate, according to a press statement. The move will diversify the State Oil Fund of the Republic of Azerbaijan’s (Sofaz) portfolio […] June 2, 2025
Real Estate Emaar Development buys new land in Dubai for $790m Emaar Development, the UAE development arm of Emaar Properties, has acquired a new land plot in Dubai for the potential expansion of its master communities. The land, the size of which was not disclosed, was acquired for AED2.9 billion ($790 million) from Amlak Property Investment in Ras Al Khor, the developer said in a statement. The […] June 2, 2025
Banking and Finance How MNT-Halan became one of Egypt’s biggest lenders Egypt’s population is well over 100 million and, while famously entrepreneurial, is often unbanked or financially excluded. For investors, the loans market has long been seen as the Middle East’s financial holy grail – alluring, but ultimately unattainable. App-based lender MNT-Halan, though, may be the first to be able to say it has cracked the […] June 2, 2025
Real Estate Dubai property optimism remains despite price correction warnings Real estate professionals in Dubai are maintaining a cautiously optimistic outlook on the market, even as fresh warnings of a potential double-digit correction cast a shadow over the city’s record-breaking property surge. Ratings agency Fitch forecast this week that Dubai’s residential property market is likely to cool through the second half of 2025 and into […] June 2, 2025
EXCLUSIVE Real Estate Asif Aziz: from the heart of London to Al Maryah Island Asif Aziz owns more of Leicester Square and Piccadilly Circus than any other individual. His holdings include the Criterion Building, a West End landmark best known as the setting where Dr Watson first hears the name Sherlock Holmes; the former Trocadero, which housed music halls and cinemas from the 1890s; and One Leicester Square, overlooking […] June 2, 2025
Real Estate Dubai issues Middle East’s first tokenised property certificate Dubai has issued its first tokenised property certificate, moving tokenisation of real estate from the realm of theory to practice. Tokenisation is the process of creating and trading digital tokens that are backed by real-world assets on a blockchain. It enables direct and verifiable peer-to-peer transactions. The certificate’s launch follows the successful sale of the […] May 30, 2025
Banking and Finance Shuaa Capital sues former executives for $70m over losses Investment bank and asset manager Shuaa Capital has filed a lawsuit against former executive managers, seeking approximately $71 million (AED 260 million) in compensation for alleged misconduct that the company claims contributed to its financial losses. The legal action, disclosed in a filing to the Dubai Financial Market, is part of Dubai-based Shuaa’s broader efforts […] May 30, 2025
Opinion Leisure & Hospitality Peak Dubai: Jumeirah’s Marsa Al Arab draws the crowds Whilst setting a new standard for Dubai luxury, the hotel's popularity is creating a traffic nightmare May 30, 2025
Analysis Banking and Finance UAE’s cashless drive stymied by the humble rent cheque The UAE wants to be an almost completely cashless economy but rent, which is one of the country’s largest personal expenses, remains locked in paper. That is providing an opportunity for regional financial technology companies to plug the gap between tenants who want to pay their rent digitally and monthly, and landlords who want the […] May 30, 2025
Video length: 03:49 VIDEO Banking and Finance Crypto crimes drop due to blockchain transparency Illicit activity in cryptocurrency transactions has plummeted as a result of investment in compliance levels across the digital asset industry. Binance, the world’s largest cryptocurrency exchange platform, says shadowy practices including money laundering have dropped from 0.6 percent to 0.15 percent. More traditional currencies, which are usually issued by governments, last year had a much […] May 29, 2025 In association with
Trade EU launches UAE trade talks despite watchlist status The European Union has relaunched free trade talks with the UAE, even as it continues to keep the Gulf state on its money laundering watchlist, a designation that can pose risks for investors. In February last year the UAE was removed from the Financial Action Task Force (FATF)’s grey list after being praised for reforms […] May 29, 2025
Renewable Energy Masdar-backed Emerge in talks for $300m renewables push Emerge, a clean energy joint venture between the UAE’s Masdar and France’s EDF Group, is in talks with regional and international lenders to secure financing for a $300 million expansion of its solar and storage portfolio, with a focus on the Gulf. “These are capital-heavy projects,” general manager Michel Abi Saab said on Wednesday in […] May 29, 2025
Video length: 03:36 VIDEO Real Estate Sharjah student market set for growth as US visas change The student population in Sharjah is one of the highest in the Emirates and is likely to increase since Donald Trump revealed plans to limit the number of visas for international students in the US. With 55,000 students currently living and studying in Sharjah, the emirate is rapidly establishing itself as the education capital of […] May 29, 2025
Analysis Education International business schools enter Gulf to plug skills gap Demand for executive education in Saudi Arabia, the UAE and other Gulf states is growing as local governments and corporations seek to train the next generation of leaders to support economic and enterprise development goals. Several business schools and universities offering professional development programmes are expanding in the Gulf region. These include the London Business […] May 29, 2025
Finance Mubadala’s $1bn sukuk order book oversubscribed five times Abu Dhabi sovereign wealth fund Mubadala has sold $1 billion in 10-year US dollar-denominated Islamic bonds, or sukuk, in its first debt sale of the year, news service IFR said on Wednesday. Acting through the Mamoura Diversified Global Holding debt vehicle, Mubadala priced the bonds at 60 basis points (bps) over US treasuries, narrower than […] May 29, 2025
Analysis Real Estate UAE property developers bank on huge order backlogs The UAE’s largest property developers are likely to post rising profits in the coming quarters as under-construction projects reach new milestones. This will enable them to book revenue from their vast order backlogs, analysts predict. Most listed developers reported big year-on-year increases in first-quarter profits. Emaar Properties’ Q1 profit rose 27 percent to just over […] May 29, 2025
Exclusive Health Globalpharma seeks early lead in race for Ozempic alternatives Globalpharma, which is a wholly owned subsidiary of Dubai Investments, is laying the groundwork to manufacture generic versions of blockbuster drugs such as Ozempic, positioning itself ahead of potential patent expiries and shifting regulatory frameworks. The UAE drugmaker is exploring partnerships to develop peptide-based injectables using off-patent precursors – drug ingredients that are no longer […] May 29, 2025
