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Saud Abdulhamid in action for Saudi Arabia during the victory over Argentina in the 2022 FIFA World Cup in Qatar

Roma score commercial goal with Saudi signing

Italian football club AS Roma will be anticipating commercial opportunities that might arise after it signed 25-year-old Saudi Arabian defender Saud Abdulhamid this week.  Abdulhamid joined Roma from Al-Hilal in a deal worth $3.35 million. The transfer deal is the first involving a Saudi player and a major European league.  “When I received the offer, […]

Telegram founder and CEO Pavel Durov

Telegram founder Pavel Durov arrested in France

Pavel Durov, the Russian-born billionaire founder and owner of the Dubai-based Telegram messaging app, was arrested at Le Bourget airport, Paris shortly after landing on a private jet late on Saturday, and placed in custody, three sources have told Reuters. Durov, 39, who has dual French and UAE citizenship, was arrested as part of a […]

ADIA Sanofi

ADIA ‘in talks to join Sanofi bid consortium’

Abu Dhabi’s trillion-dollar investment fund is in talks to join a consortium to buy the French drugmaker Sanofi’s consumer health division, according to a report by Bloomberg. Abu Dhabi Investment Authority (ADIA) and the Singapore sovereign wealth fund GIC have both been contacted by the French buyout firm PAI Partners with a view to joining […]

An artist rendering of Yondr's data centre in Northern Virginia, US. Mubadala says it aims to support Yondr's growth strategy

Mubadala grows data centre portfolio with Yondr deal

Abu Dhabi’s Mubadala Investment Company has invested in Yondr Group, a London-headquartered data centre developer, amid rising global demand for such facilities. The investment, through US alternative asset manager Apollo, aims to support Yondr’s growth strategy, the sovereign wealth fund said in a statement. No financial details were disclosed. Yondr specialises in providing scalable data […]

ADQ's investment will support Sotheby’s' expansion into new markets, including establishing a robust presence in the Middle East

Abu Dhabi’s ADQ buys minority stake in Sotheby’s

Abu Dhabi sovereign wealth fund ADQ and Patrick Drahi, majority owner of auction house Sotheby’s, will jointly invest $1 billion in the company to support its expansion plans. As part of the agreement, ADQ will acquire a minority stake in Sotheby’s, a British-founded company that has its headquarters in New York. The value of the sovereign […]

Threadneedle Street in the heart of London's financial district. Hargreaves Lansdown will delist once its sale is completed

ADIA consortium in $6.9bn deal for UK trading platform

A consortium including Abu Dhabi’s biggest sovereign wealth fund has agreed a deal to buy UK stock trading platform Hargreaves Lansdown for £5.4 billion ($6.9 billion), the London-listed company said on Friday. Abu Dhabi Investment Authority (ADIA) subsidiary Platinum Ivy and private equity firms CVC and Nordic Capital will buy all Hargreaves Lansdown shares, which […]

Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, the UAE's deputy prime minister and finance minister, visiting the London Gateway port

DP World’s London Gateway to become UK’s largest seaport

The official launch this month of a new berth at London Gateway Port makes the facility the UK’s largest seaport, with operator DP World outlining plans for three more berths. The port, which currently handles 2.4 million containers, will expand its capacity to 3.4 million containers with the opening of berth 4, the UAE state-run […]

A construction site in Dubai. Sidara had raised its offer for Wood in May

Dubai’s Sidara shelves bid to take over UK’s John Wood Group

Dubai’s Sidara has abandoned its multi-billion-dollar plan to take over the British consultancy John Wood Group. The Emirati engineering and consulting group cited “geopolitical risks and market uncertainty” for its decision. Shares in Wood slumped by 37 percent on the news, hitting their lowest level since December 2022. Sidara raised its offer to 230p per […]

Swedish company Tethys Oil's core area is Oman, where it holds interests in five blocks

Swedish company secures $156m for Omani oil blocks  

The Omani unit of Stockholm-headquartered Tethys Oil has secured funding from a UAE bank for its oil exploration blocks in the sultanate. Tethys Oil Block 3&4 Limited secured a five-year OR60 ($156 million) loan facility from Abu Dhabi Commercial Bank to support capital expenditure for blocks 3 and 4 in Oman. The loans drawn under […]

Oman's Marsa Liquefied Natural Gas project will be 80% owned by TotalEnergies and 20% by OQ

European regulator approves Oman’s $1.6bn LNG project

The European Commission has approved a $1.6 billion liquefied natural gas (LNG) project in Oman’s Sohar Port. The project, which is being jointly developed by Oman energy investment company OQ and France’s TotalEnergies, is unlikely to raise competition concerns due to its limited impact on the European economic area, the Oman Daily Observer reported, quoting […]

Redbird IMI The Spectator Paul Marshall

Abu Dhabi-backed Redbird IMI set to sell The Spectator

Redbird IMI, a US investment group backed by Abu Dhabi’s International Media Investments, is understood to be selling The Spectator magazine to hedge fund boss Paul Marshall. It is understood a deal with Marshall, through his Queen Street Ventures fund, would value the magazine in the region of £90 million ($114 million) to £120 million […]

Murray Auchincloss, BP’s CEO, left, signed the agreement with Hayan Abdul Ghani, the Iraqi oil minister, right, alongside Muhammad Shia Sudani, the prime minister, centre, in Baghdad on August 1

BP CEO signs non-binding deal to return to Iraqi oilfield

BP, the London-listed oil major, has signed a non-binding memorandum of understanding with the Iraqi government to return to the super-giant Kirkuk oilfield in the north of the country.  The agreement includes the Baba and Avanah domes and three adjacent fields – Bai Hassan, Jambur and Khabbaz – which are operated by the government of […]

Masdar TotalEnergies SAF

Masdar and TotalEnergies team up to produce SAF

Masdar, the UAE’s state-backed clean energy company, has partnered with the French energy major TotalEnergies to develop the commercial production of sustainable aviation fuel (SAF) using methanol produced from green hydrogen in Abu Dhabi. The two companies agreed to assess the project’s viability after a “successful test flight” during Cop28 last December, which demonstrated the […]

Tunisia aims to produce 8.3 million tonnes of green hydrogen and its derivatives by 2050 under its green hydrogen strategy

Tunisia signs green hydrogen deals to step up production

Tunisia has signed six agreements with international companies to develop green hydrogen production as it seeks to expand its clean fuel production capacity. The North African country aims to produce 8.3 million tonnes of green hydrogen and its derivatives by 2050 under its green hydrogen strategy, which was released in October 2023. Much of the […]