AbuDhabiPR.com, Online Press Release from Abu Dhabi and Al Ain
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IHC Acquires 15% Stake in Burjeel Holdings

Abu Dhabi, UAE; Sep 19 2022: International Holding Company (ADX: IHC), the diversified Abu Dhabi-based conglomerate, has announced today a direct acquisition of a 15% stake in Burjeel Holdings, the leading regional private healthcare group, in one of the biggest deals in the Gulf’s healthcare sector in recent years. The acquisition will aim to continue to scale and diversify IHC’s investment in the healthcare sector locally and regionally, which will create a thriving commercial ecosystem for the healthcare industry for the benefit of broader community and shareholders.  Commenting on the acquisition, Syed Basar Shueb, Chief Executive Officer, IHC said: "We continue to see a tremendous opportunity to invest in mission-driven organizations like Burjeel Holdings. We are very pleased with Burjeel's progress ......read more

The UAE Banks Federation Holds its Third CEOs Advisory Council meeting in 2022, with New Members Joining

Abu Dhabi, United Arab Emirates; 16 September 2022: The CEOs Advisory Council of the UAE Banks Federation, the representative and unified voice of the UAE banks, held its third meeting of 2022 remotely on the 7th of September to discuss developments in the global and local banking and financial sector for the past eight months. The virtual meeting also reviewed the implementation of recommendations made at the last meeting in June 2022. His Excellency Abdulaziz Al Ghurair, Chairman of the UAE Banks Federation, said, "Under the direct supervision of The Central Bank of the UAE, the UAE financial sector has proven that it is capable of successfully overcoming various challenges and changes in the global economy. The sector has always been able to strike a balance between providing the best services to customers and creating ......read more

ADQ Monetizes a Minority Stake in TAQA

• ADQ monetizes a minority stake in TAQA in line with its strategy of targeting a balanced and diversified portfolio • ADQ remains committed to maintaining a sizeable ownership stake in TAQA  • TAQA is a leading utilities firm in EMEA and a key player in driving the UAE's clean transition   Abu Dhabi, UAE. 13 September 2022: ADQ, an Abu Dhabi-based investment and holding company, today announced that it has entered into an agreement to monetize a stake of 8.6% in Abu Dhabi National Energy Company PJSC (“TAQA”) to Multiply Group PJSC, Abu Dhabi Pension Fund and other prominent investors.    TAQA is a diversified utilities and energy group headquartered in Abu Dhabi, the capital of the United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX: TAQA). TAQA ......read more

ADX and FTSE Russell Launch Benchmark Growth Market Index

FTSE ADX Growth Market Index will enable investors to track the performance of the Growth Market ABU DHABI, UAE - 1 September 2022:  The Abu Dhabi Securities Exchange (ADX) and FTSE Russell, under their index partnership, have co-developed a new benchmark, the FTSE ADX Growth Market Index (FADGMI) that will track the performance of the ADX’s recently rebranded Growth Market segment. FADGMI, the new index that went live today, includes the eligible constituents of the Growth Market, will provide investors with the ability to mimic the Growth Market performance that consists of a wide range of emerging and fast-growing companies starting their capital market journey. The launch of FADGMI is a result of ADX’s successful partnership with FTSE Russell and closely follows the launch in March of the FTSE ADX 15 Index ......read more

TAQA Group, Injazat to Advance Digital Transformation in the UAE

Abu Dhabi, UAE – 25 August 2022: Injazat, the UAE’s home-grown technology champion in digital transformation, cloud, and cyber security, today announced winning a digital transformation project for TAQA Group, the recognized low carbon power and water champion from Abu Dhabi that is a top-10 integrated utilities company in the EMEA region.  The contract was formalised during a signing ceremony with Ussama Dahabiyeh, the CEO of Injazat and Omar Al Hashmi, Executive Director of Transmission & Distribution, TAQA Group.  TAQA selected Injazat from a pool of competitive international bidders to lay the groundwork for TAQA to become a digital utility through modernized IT infrastructure. The program’s workstreams will address risks, deliver new capabilities, and up-skill staff on new technologies. Injazat ......read more

AD Ports Group Wins 17 International Business Awards

Recognised for ‘Achievements in Growth’, ‘Best Digital Process Automation Solution’, ‘Communication Department of the Year’ and ‘Marketing Campaign of the Year’, among other top Awards   Abu Dhabi, UAE – 24 August 2022:  AD Ports Group, the leading facilitator of global trade, logistics, and industry, has won 17 awards at The Stevie International Business Awards 2022, the global awards recognising excellence and accomplishments within the workplace. The 19th edition of the awards attracted more than 3,800 nominations from a wide range of organisations. AD Ports Group received seven Gold Awards, six Silver Awards, and four Bronze Awards – the largest haul in its history and recognition of the remarkable progress the Group has made in recent years, which has seen it ......read more

Emirates Stallions Group Pushes into Indoor Spaces Design and Product Manufacturing Markets with Two Strategic Acquisitions

Abu Dhabi, UAE - 23, August 2022: Emirates Stallions Group (PJSC), UAE’s leading investment, engineering, and construction services business and subsidiary of International Holding Company (IHC), has acquired a substantial amount of shares in two of the UAE indoor spaces design leading companies to expand its business further into indoor spaces design and product manufacturing.   ESG has acquired a 60% stake in Vision Factory, one the biggest furniture and joinery production facility in the UAE. The company has also taken a 45% stake in Decovision, the world-class quality interior design and engineering services provider.  Matar Suhail Ali Al Yabhouni Aldhaheri, Chairman of Emirates Stallions Group, said: “These acquisitions come as part of our effort to continue expanding ESG revenues beyond engineering ......read more

Abu Dhabi Chamber Showcases the Incentives of NAFIS Program

 The session aimed at enhancing the contribution of the national human resources to the private sector    Abu Dhabi, UAE - 22 August 2022: The Abu Dhabi Chamber of Commerce and Industry (ADCCI), in cooperation with the Abu Dhabi Department of Economic Development (ADDED), the Emirati Talent Competitiveness Council (NAFIS), and the Ministry of Human Resources and Emiratisation (MOHRE) organised a second session for raising awareness about the incentives of the Emirati competitiveness program NAFIS. The session also highlighted the Cabinet’s decision for increasing Emiratisation in the private sector and the importance of the Emiratis’ contribution to the UAE’s growth. The session, which was held at the Chamber's headquarters in Abu Dhabi, was attended by His Excellency Rashid Abdulkarim Al ......read more

One of the Region's Largest Food & Healthcare Storage Hubs to be Launched in Abu Dhabi

AD Ports Group’s Advanced Logistics Hub at KIZAD to bring 80,000m2 of Storage Capacity   Abu Dhabi, UAE – 18 August 2022:  AD Ports Group, the leading facilitator of global trade, logistics, and industry, has announced that KLP21, its new advanced warehousing and logistics hub in Abu Dhabi, will be available within Q3, 2022.  KLP21 is situated in KIZAD, the Group’s integrated trade, logistics and industrial zone located between Abu Dhabi and Dubai. It leverages UAE’s strategic position as a gateway to Asia, Africa and the MENA region representing a combined marketplace of over 4.5 billion consumers. KLP21 is strategically located next to the upcoming Regional Food Hub along the main E311 cargo corridor, ensuring direct connectivity to all major markets.  Comprising four warehouses with ......read more

Lenovo Group: First Quarter Results 2022/23

Lenovo delivers ninth straight quarter of improved revenue and profitability and the largest market share in the Gulf at 27.6%    Dubai, August 18, 2022– Lenovo Group (HKSE: 992) (ADR: LNVGY) today announced strong first quarter results for the Group, improving both revenue and profitability for the ninth consecutive quarter. First quarter net income grew 11% year-on-year to US$516 million and 35% year-on-year to $556 million on a non-HKFRS [1] basis. Revenue grew to US$17 billion, up 5% year-on-year in constant currency.    The Group saw revenue from non-PC businesses reach 37%, demonstrating its services-led transformation strategy and persistent investments in diversifying the business have paid off and are driving future growth opportunities. These new growth engines of solutions and services, ......read more

AD Ports Group Q2 2022 Net Profit Surged 59% YoY

Revenue grew by 35% YoY to AED 1,242 million driven by the Maritime and EC&FZ clusters EBITDA increased by 41% YoY to AED 532 million Net Profit surged 59% YoY to AED 300 million Capex reached AED 1.6 billion, in line with the Group’s capital investment plans to spend more than AED 15 billion across all clusters over the 2022-26 period Net leverage stood at 0.9x, leaving ample room for further organic and inorganic growth; USD 1 billion RCF remains unutilised Container volumes grew by 30% YoY while Ro-Ro and cruise passenger volumes continued their healthy recovery post COVID-19 disruptions Record 3.9 km2 of new land leases signed during H1 2022 - more than the annual land leases signed in each of 2021 and 2020 FTSE Emerging Markets Index inclusion in June 2022 Abu Dhabi, UAE - 13 August, 2022:  ......read more

IHC Sails Into Turkish Market and Acquires 50% of Renewable Energy Company “Kalyon Enerji” in AED 1.8 billion Transaction

• The deal comes as part of IHC’s long-term investment strategy in the clean energy sector.  • Kalyon Karapınar Solar Power Plant established on approximately 20 million square meters of land in Konya’s Karapınar district. • This strategic partnership includes some other renewable projects in Turkey.    Abu Dhabi, UAE - Aug 11 2022: International Holding Company PJSC (ADX: IHC), the diversified Abu Dhabi-based conglomerate, has announced today the acquisition of a 50% stake in Turkish clean energy market leader "Kalyon Enerji" for AED 1.8 billion through its subsidiary International Energy Holding.    Kalyon Enerji is owned by the giant Turkish group Kalyon Holding, which operates in the Construction, Energy and Aviation industries. In this ......read more

IHC Smash Previous Record Reporting Over AED 10.3 Billion in Net Profits in H1 2022

Strong result driven primarily by subsidiary's solid performance and profitable business acquisitions in first half 2022.   H1 total revenue touched AED 21.93 billion, an increase of 121% as compared to June 2021. IHC to increase its global investments in 2nd half of 2022 through mega deals and acquisitions.      Abu Dhabi, UAE; 08 August 2022:  International Holding Company PJSC (ADX: IHC), a diversified Abu Dhabi-based conglomerate, has posted new record Profits in the first half of 2022, as the company continues its aggressive investment strategy through a focused, high-conviction approach, targeting local and international business acquisitions with sustainable earnings and cash flow growth.   The solid business performance across all IHC subsidiaries has resulted in a ......read more

Servomex Establishes New Middle East Hub at ADAFZ

• Servomex, a global expert in gas analysis announced its regional operations base at ADAFZ  • Servomex will provide the UAE and wider region with specialised gas sector products      Abu Dhabi, UAE – 03, August 2022:  Abu Dhabi Airports Free Zone (ADAFZ), a wholly owned subsidiary of Abu Dhabi Airports, announced that Servomex, the global expert in gas analysis, officially launched its operations at the airport freezone. As a leading provider of reliable, accurate and stable gas measurement solutions to industries worldwide, Servomex will provide essential gas-related services to the local market whilst serving clients and customers across critical industries from its new Middle East Office at ADAFZ.    Servomex designs, manufactures, and distributes a wide range of ......read more

ADX Market Data Goes Live on TradingView Platform

 30+ million TradingView global users to get access to ADX data   ABU DHABI, Aug 03, 2022:  The Abu Dhabi Securities Exchange (ADX) has signed a new data-sharing partnership with TradingView, a leading financial information portal based in the US, to help attract a new generation of global traders and investors to the exchange.    As part of the agreement, ADX market data is now live on TradingView’s platform and accessible by a large base of local, regional and international investors who are also TradingView users.   TradingView delivers financial intelligence and state-of-the-art tools for traders to make informed decisions and profitable trading decisions. It has a growing base of social traders, with around 30 million users and over one million paid subscribers around the ......read more

AD Ports Group and Hutchison Ports Ink MoU to form Strategic Partnership

282 cars delivered in the Middle East Collaboration to focus on enhancing operations of both organisations across the maritime and logistics sectors     Abu Dhabi, UAE – August 2, 2022: AD Ports Group, the leading facilitator of trade, logistics, and industry in Abu Dhabi, today announced that it has signed a Memorandum of Understanding (MoU) with Hutchison Ports, the world’s leading port investor, developer and operator. As per the MoU, AD Ports and Hutchison Ports will identify joint investment and business opportunities related to feedering, logistics, and port activities across the GCC, Africa, and Asia.  Additionally, the two organisations will form a partnership to operate within Tanzania, where they will work closely together to explore opportunities to further enhance the capabilities and ......read more

Ghitha Reports AED 80 Million in Profit for Q2-2022 as Sales Hit New High

• Ghitha profits have grown by 471% compared with Dh14.1m in the same period last year. • The company continued to strengthen and grow its market position through acquisitions and organic growth.  • Revenue for Q2 at a record peak of AED 576 million.    Abu Dhabi, UAE; 2 August 2022: Ghitha Holding PJSC, the leading regional foodstuff trading and distribution company, and subsidiary of International Holding Company (IHC), has announced its second quarter results for 2022 with profit of AED 80.65 million, surging by more than 471% for the same period last year.   Ghitha reported record-breaking numbers, led by its revenue reaching AED 576 million, which shows immense growth of 276%, soaring up from AED 153 million in Q1-2021. It has overseen a solid push to expand the company’s ......read more

UAE Minister of Industry and Advanced Technology Visits Tawazun Industrial Park and EDGE Group and Praises Nation's “High-Level Competencies” in Priority Industries

Abu Dhabi, August 2, 2022: His Excellency Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, has led a joint delegation by the Ministry of Industry and Advanced Technology (MoIAT) and the Ministry of Defence (MOD) to the Tawazun Industrial Park and the Tawazun Economic Council (Tawazun), the integrated national centre for defense, security, and aviation industries. His Excellency also met with senior leadership of the Edge Group, one of the world’s leading advanced technology conglomerates. The visit came as part of a series of tours conducted by His Excellency to review the performance of industrial facilities in the UAE and discuss ways to further attract global investors and industrialists to the country. This is in line with the Ministry’s Make it in the Emirates initiative, which seeks to ......read more

Alpha Dhabi Reports Record Financial Performance with Half-Year Net Profit of AED 7.9 Billion as it Completes its First Year as a Listed Company

Abu Dhabi, UAE; 29 July 2022:  Alpha Dhabi Holding PJSC (“Alpha Dhabi” or “the Group”), one of the fastest-growing investment holding companies in the UAE, listed on the Abu Dhabi Securities Exchange (ADX: AlphaDhabi), has announced its financial results for the half-year ended 30 June 2022. The Group reported yet another record-breaking set of financials results with H1 2022 net profit of AED 7.9 billion, up significantly from the corresponding period last year of AED 1.7 billion. Revenues for the Group saw positive contributions and cross sector growth across its verticals year-on-year. On a half yearly basis, the Group continues to show the strength of its business model, operating structure and ability to execute on its growth strategy with revenues of AED 17.1 billion, up considerably year-on-year ......read more

New Adhesive Set to Revolutionize the Shipbuilding Industry

Abu Dhabi-UAE: 28 July 2022 – A team of researchers has analyzed the potential of using methyl methacrylate (MMA) to bond together the structural elements of a boat, as part of the INTERREG 2Seas Mers Zeeën research program. Traditionally, ship components are connected with mechanical fasteners, which add weight and limit the ability to take advantage of new design approaches that use composite materials. While researchers have explored the possibility of using epoxies to bond together different parts of a boat, the material was deemed too brittle as it can crack over time.  MMA does not provide the same strength as epoxy, however, it absorbs more energy, and the research indicated that MMA could prove suitable for replacing mechanical fasteners, resulting in lighter and more efficient designs.  “MMA is very ......read more

Multiply Group - Financial Results for H1 2022

Financial results for H1 2022 ABU DHABI, 28 July 2022 – Multiply Group (ADX: Multiply or the “Group”), a technology-focused holding company listed on the Abu Dhabi Securities Exchange (ADX), has reported AED 462 million in net profit for the first half of 2022. The Group's H1 2022 figures show revenue of AED 507 million and gross margin of AED 250 million. Net profit equates to a healthy 91% of revenue for the period with investment and other income of AED 300 million helping to drive profitability. There was also strong performance across the Group's subsidiaries, which cover five vertical segments: media and communications, utilities, ventures, wellness and beauty, and digital economy. All the Group operating units were profitable in H1 and exceeded operational targets.  The Group continues to ......read more

AASTS Collaborates with Abu Dhabi's Zakher Marine Fleet

Zakher Marine International will train AASTS students on-board its fleet; supporting the Academy’s efforts to provide top-notch practical training to aspiring maritime professionals     Sharjah, UAE, 25 July 2022: Students from the Maritime Transport technology department, of the Arab Academy for Science, Technology and Maritime Transport Sharjah Branch (AASTS), will be trained on-board Zakher Marine fleet, one of the leading maritime services companies across the region based in Abu Dhabi, UAE.   There will be 32, 14 males and 18 females, of AASTS students who will be trained on-board over a course of two semesters, while students from the Maritime Engineering Department will be trained on-board over a period of one semester.    During the course of the practical training, Zakher Marine will ......read more

UAE's First Q-Commerce Marketplace Veppy.com Invites Sellers to Register Products before Launch in August

Veppy.com gives the UAE’s small and medium enterprises a great business opportunity to expand by registering and listing their products on the fastest-growing online shopping marketplace that goes live in August this year   Date: Dubai, UAE, July 19, 2022   News Highlights:   1. The Q-Commerce market in the Middle East and North Africa (MENA) region is expected to grow from US$9 billion in 2020 to US$20 billion by 2024.    2. Globally, the Q-Commerce market for food and grocery delivery is expected to grow to $72 billion by 2025, according to a report by Forbes magazine.   3. Latest estimates from Visa Middle East have forecasted the total MENA E-Commerce market size, including all categories, to be worth US$48.6 billion in 2022.   4. Q-Commerce segment is ......read more

AD Ports Group Secures Coveted Global Certification for End-to-End Supply Chain Management of Medical Devices

The Certification Furthers AD Ports Logistics’ Position as a Global Provider of Specialised Healthcare Business Services     Abu Dhabi, UAE – July 19, 2022: AD Ports Logistics (ADPL), a subsidiary of AD Ports Group’s Logistics Cluster, has secured the coveted International ISO Certification for its integrated end-to-end supply chain management services covering medical devices. With the latest ISO award, issued by Bureau Veritas - one of the world’s leading testing, inspection, and certification bodies - ADPL became one of the first service providers in the UAE to be fully accredited for supply chain management services covering medical devices, equipment, and consumables. The certified services include, import, export, transport, storage, warehousing, freight forwarding, distribution and ......read more

EasyLease Pushes into Lifestyle and Leisure Mobility and Acquire a Majority Stake in UAE-based The Captain's Club

Abu Dhabi, UAE; 19 July 2022: EasyLease (PJSC), the UAE’s mobility solution leader, and a subsidiary of Abu Dhabi-based International Holding Company (IHC), has acquired 55% of The Captain’s Club, the UAE’s biggest boat club, valuing the total company at AED 70 million. Founded in 2014, The Captain’s Club is a membership-based mobility platform, connecting its members to the UAE’s largest booking app for boats. Located in three cities across 8 marinas, there are over 120 boats available for members for on-the-water experiences. Members can book boats online through The Captain’s Club's own software system, accessible on any device.  Matar Suhail Ali Al Yahbouni Aldhaheri, Chairman of EasyLease, said: “EasyLease is transforming into a mobility group that disrupts the regional ......read more

LG Releases Preliminary Earnings for Second-Quarter 2022

July 15, 2022 — LG Electronics Inc. (LG) announced its preliminary earnings results for the second quarter of 2022. LG reported revenues of KRW 19.5 trillion in the second quarter of 2022, 15 percent higher than the same quarter the previous year. Operating profit for the second quarter was KRW 791.7 billion, expected to be 12 percent lower than the same quarter of the previous year. LG Electronics terminated production and sales of solar panel at the end of June this year and is treating the performance of solar business as a discontinued operating loss from the second quarter 2022 earnings announcement. Applying the same standards from the second quarter of 2022 to the same period last year, LG would have recorded a revenue of KRW 16.9 trillion with an operating profit of KRW 900.1 billion. These figures are the ......read more

ADFD and ADEX Sign Two Loan Agreements worth AED337.9 to Finance Water Supply Network Project in Bahrain

Abu Dhabi, 14 July 2022 – Abu Dhabi Fund for Development (ADFD) and the Abu Dhabi Exports Office (ADEX) signed two loan agreements with the Electricity and Water Authority in Bahrain to finance a water supply network project.  Under the agreements, ADFD has committed to provide a loan of AED150.6 million, and ADEX to provide a loan of AED187.32 million.  The project aims to enhance the capacity of the water transmission networks within the second phase of Al Dour station to 50 million gallons to ensure reserves of at least three days’ consumption average to cater to the everyday needs of the residents. Apart from drinking water supply, the station will serve construction, investment and industrial projects, thereby supporting Bahrain’s Electricity and Water Authority’s water strategy until ......read more

Applications Open for startAD's Fintech Corporate Sprint Accelerator 9

● Participants will have the opportunity to win a prestigious Ripple grant worth USD 25,000 through a fast-tracked application process ● All participants will be sponsored to showcase and pitch their startup at the region’s largest startup and tech event, GITEX 2022 ● Deadline to apply is August 28, 2022   Abu Dhabi, UAE – July 14, 2022: startAD, the Abu Dhabi-based startup accelerator powered by Tamkeen and anchored at NYU Abu Dhabi (NYUAD), has announced that applications are now open for the ninth edition of its Corporate Sprint Accelerator (CSA 9).  In partnership with Ripple’s University Blockchain Research Initiative (UBRI), the three-week market access accelerator will enable global startups to bring cutting-edge FinTech innovation to the UAE. Accepted startups will be ......read more

Abu Dhabi Securities Exchange (ADX) and Bahrain Bourse (BHB) Launch Tabadul Exchange Hub

Abu Dhabi - 7 July 2022:   Abu Dhabi Securities Exchange (ADX) and Bahrain Bourse (BHB) announced the launch of the region’s first digital exchange hub – Tabadul. The exchanges commemorated this landmark achievement towards the launch of Tabadul with an official bell ringing ceremony live streamed from BHB and the ADX headquarters. HE Hisham Malak, Chairman of Abu Dhabi Securities Exchange (ADX),  rang the market opening bell at Abu Dhabi Securities Exchange and the Minister of Finance and National Economy, HE Shaikh Salman bin Khalifa Al-Khalifa, rang the market opening bell at Bahrain Bourse with the attendance of the Minister of Industry and Commerce & Minister in Charge of Bahrain Bourse, HE Zayed bin Rashid Al Zayani, and the Governor of the Central Bank of Bahrain, HE Rasheed Mohammed Al Maraj, ......read more

AD Ports Group and SEG Sign Two Agreements for Development of Logistics, Freight and Food Trading Infrastructure in Uzbekistan

Joint Venture and MoU Look to Accelerate Trade and Promote Food Security for the Central Asian Nation     Abu Dhabi, UAE and Tashkent, Uzbekistan – 6 July 2022: AD Ports Group, the leading facilitator of global trade, logistics, and industry, has launched a joint venture with SEG, one of the largest oil and gas companies in Uzbekistan, to open new logistics and freight businesses and signed a Memorandum of Understanding to develop a food trading hub in Uzbekistan.   At a signing ceremony in Tashkent, the two companies signed the key agreements to support the collaboration, which aims to develop logistics infrastructure and services that will enable Uzbek and SEG’s refined products to reach global markets at competitive costs. The ceremony attendees from the UAE included H.E. Dr Thani bin Ahmed Al ......read more

Technology Innovation Institute's Directed Energy Research Center to Host GLOBALEM Conference in Abu Dhabi in November 2022

Landmark electromagnetic conference to draw practitioners, professionals, researchers from high-energy, physics domains, elevate UAE capital’s status as sci-tech hub Abu Dhabi-UAE: 05 July 2021 – In a move geared to boost the credentials of Abu Dhabi as a preferred venue for international science and technology events, the Technology Innovation Institute (TII), the world’s leading scientific research center and the applied research pillar of Abu Dhabi’s Advanced Technology Research Council (ATRC) today announced that its Directed Energy Research Center (DERC), will organize the upcoming edition of GLOBALEM, a definitive high power electromagnetic (HPEM) conference.   Set to run from November 13 to 17 at St. Regis Abu Dhabi, the conference marks the first high-profile event DERC is hosting after making ......read more

AD Ports Group Agrees to Acquire Majority Stakes in Egypt's Transmar and Transcargo International (TCI)

Strategic Investment Extends AD Ports Group’s Presence in the Red Sea Container, Cargo, and Port Operations     Abu Dhabi, UAE – 1 July 2022: AD Ports Group, the vertically integrated trade enabler, today announced that it has reached an agreement to acquire a 70 percent equity stake in International Associated Cargo Carrier B.V., which wholly owns two Egypt-based maritime companies, Transmar International Shipping Company (“Transmar”) and Transcargo International S.A.E. (“TCI”).  The total purchase consideration (Enterprise Value) of this transaction amounts to AED 514 million (USD 140 million). The acquisition will be fully funded from AD Ports Group’s existing cash reserves, which stood at over AED 3 billion as of March 31, 2022. It is the first international acquisition ......read more

The National Experts Program Launches its Third Edition with Applications to Open on 1 July

• The National Experts Program (NEP) will accept applications from 1 July 2022 • The third edition focuses on three key strategic clusters: Economic Growth; Social Development; and Sustainability and Infrastructure • Open to Emirati professionals with at least 10 years of experience, the eight-month program is aligned with the UAE’s sustainable development priorities • Participants will be mentored by UAE government and business leaders and trained by executive educators and sector-specific specialists from leading partner organizations around the world • Modules will be developed in collaboration with world-class educational partners   Abu Dhabi, 30 June 2022: The National Experts Program (NEP) today launched its third edition and will be accepting applications from the 1st of July ......read more

Abu Dhabi Securities Exchange (ADX) Lists Invictus Investment Company on Growth Market

Abu Dhabi, 29 June 2022: Abu Dhabi Securities Exchange (ADX) announced that it has listed Invictus Investment Company, a trading firm specialising in agro-food commodities, raw materials for industries and finished goods, and a subsidiary of Invictus Holding Limited.  The company made its trading debut on Abu Dhabi Securities Exchange’s Growth Market as it takes steps to broaden the products it trades and expand its operations internationally.  Invictus Investment, which started trading today under the trading symbol INVICTUS, was established in Jebel Ali Free Zone in 2014 to manage raw material import requirements for large manufacturers in Sudan. It has since grown into a full-service trading company specializing in commodities, agri-food and finished goods across Africa, Middle East and Asia. The company also ......read more

INVICTUS Investment to List on Abu Dhabi Securities Exchange (ADX) Growth Market

• Dal Group announces Invictus listing on ADX, with an AED 3 billion valuation • The listing is on ADX Growth Market on June 29, 2022   Abu Dhabi, UAE; 28 June 2022: Invictus Investment, a subsidiary of Invictus Holding Limited and an affiliate of DAL Group, a Sudanese conglomerate and the largest private group in Sudan with an international business presence across Africa, the Middle East, and Asia, will list on the Abu Dhabi Securities Exchange (ADX) Growth  Market  on June 29, 2022, offering investors opportunity to invest in a fast growing and scalable agro-food and finished goods trading business.   Invictus Investment (Invictus) owns 100% shareholding in Invictus Trading FZE, which recorded total sales of over AED 2.9 Billion for the full year ended December 31, 2021, and over AED 1.75 ......read more

ADEX and EBID Sign Financing Agreement to Boost UAE Exports to West Africa

Abu Dhabi, 28 June 2022 – Abu Dhabi Exports Office (ADEX), the export-financing arm of Abu Dhabi Fund for Development (ADFD), has signed a financing agreement with the ECOWAS Bank for Investment and Development (EBID), whereby a line of credit of US$20 million will be opened between the two entities that will enhance strategic cooperation, leading to an increase in the volume of trade between the UAE and ECOWAS member states. The agreement also supports the establishment of additional credit lines and the provision of easier means for joint financing, thus boosting Emirati exports in the African market. The agreement was signed virtually by Khalil Al Mansoori, Acting Director General of ADEX, and Dr. George Agyekum Donkor, President and Chairman of the Board of Directors of EBID. H.E Mohamed Saif Al Suwaidi, Director General of ......read more

Alpha Dhabi increases stake in Aldar, becoming the Parent Company and Cementing Status as Single Largest Shareholder

Abu Dhabi, UAE; 28 June 2022:  Alpha Dhabi Holding PJSC, one of the fastest-growing investment holding companies in the UAE, listed on the Abu Dhabi Securities Exchange (ADX: Alphadhabi), has increased its stake in Aldar Properties PJSC, one of the leading real estate developers and managers in the UAE, reaffirming its position as the single largest shareholder and consequently becoming Aldar’s parent company.  Through this latest additional stake, Alpha Dhabi has raised its shareholding of Aldar, to complement its existing majority representation on Aldar’s Board of Directors. Accordingly, Aldar will be treated as a subsidiary in Alpha Dhabi’s consolidated financial statements, the impact of which will be reflected in its financial results for Q2 2022 onwards. The additional shareholding came through the ......read more

Tourism 365 and OACIS ME Sign Strategic Partnership Agreement to Provide Off-Airport Check-In Services in the Emirate of Abu Dhabi

His Excellency Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence was present during the signing ceremony  Abu Dhabi, UAE: 28 June  2022 – In the presence of His Excellency Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence, Tourism 365, the tourism development arm of the Abu Dhabi National Exhibitions Company (ADNEC) Group, officialised a five-year exclusive agreement with remote check-in solutions provider, OACIS ME LLC (Off Airport Check In Solutions).  A signing ceremony took place at the Abu Dhabi National Exhibition Centre, where His Excellency Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence, praised the strategic agreement for its intent to add value for travellers to Abu Dhabi and enhance their experience through the latest ......read more

ADQ Launches ‘ADQ Growth Lab' to Accelerate Innovation and R&D Across Key Sectors of the UAE Economy

• New community of innovators spanning ADQ’s broad portfolio aims to deliver real-world value and sustainable impact  • The community will drive innovation in products, services, processes, technologies and business models to enhance ADQ portfolio companies that operate across key sectors of the UAE’s diversified economy • Investments of more than AED 100 million to fund R&D testbed projects and AI and automation    Abu Dhabi, UAE – 23, June 2022: ADQ, an Abu Dhabi-based investment and holding company, has launched the ADQ Growth Lab, a community of innovators spanning ADQ’s broad portfolio. The ADQ Growth Lab represents the company’s commitment to innovation and R&D with a direct focus on creating value and sustainable impact across priority sectors of ......read more

ADX Launches FADX 15 Futures, The Exchange's First Index Derivatives

FADX 15 Futures offer investors a new way of investing on the ADX market    ABU DHABI, June 21, 2022:  The Abu Dhabi Securities Exchange (ADX) has launched FADX 15 futures contracts trading on its derivatives platform. The futures, based on the FTSE ADX 15 (FADX 15) Index, are the first index derivatives to be listed on the ADX as the exchange accelerates efforts to bolster market liquidity and attract more global investors.    FADX 15 futures are cash-settled contracts that will replicate the price performance of the benchmark FADX 15 index, which comprises the most liquid and the largest 15 companies listed on the ADX main market.  Each FADX 15 Index futures contract is equivalent to the dirham (AED) value of the FADX 15 index.    Launched in March 2022 with the aim of ......read more

Other Top Stories from Banking and Investments
 
ADX and Al Maryah Community Bank sign agreement to facilitate IPO subscriptions…

ABU DHABI, 16 June 2022 – Abu Dhabi Securities Exchange and Al Maryah Community Bank (MBank), the UAE’s first digital bank, signed an agreement today to facilitate IPO subscriptions and streamline the process for obtaining a National Investor Number (NIN).  As part of the agreement, MBank customers will be able to digitally create a NIN and self-subscribe to IPOs on the Abu ......read more

ADX's Successful London Roadshow Showcases the Growth and Strength of Abu Dhabi Capital Markets…

ADX’s successful London roadshow showcases the growth and strength of Abu Dhabi capital markets as international institutional investor participation and demand continues to increase Abu Dhabi, UAE - 14 June 2022: Abu Dhabi Securities Exchange (ADX) has successfully completed a London investor roadshow which saw ADX host a delegation of over 25 senior executives from 9 listed companies ......read more

Ogilvy Promotes Elaine Grell to Chief People Officer across EMEA…

June 14, 2022 – Ogilvy has promoted renowned People leader Elaine Grell to the position of Chief People Officer across EMEA. While now responsible for the EMEA region,  Elaine will continue to work closely with Fiona Gordon, CEO Ogilvy UK, to strategically drive the UK People agenda. Elaine will lead the agency network’s People teams and drive its "people first" ......read more

Future of Knowledge Foresight Report outlines four recommendations to enhance readiness in the face ...…

Dubai, UAE, 09 June 2022 – ‘The Future of Knowledge: A Foresight Report’ released by the Mohammed Bin Rashid Al Maktoum Knowledge Foundation (MBRF) and the United Nations Development Program (UNDP), has outlined four recommendations for policy makers to support countries in developing their collaborative and innovative capabilities. These recommendations also serve as guidelines ......read more

ADQ and Jordan's Ministry of Digital Economy and Entrepreneurship Launch $100 million Tech Fund…

• Fund will invest in high-growth technology companies and funds in sectors including healthcare and life sciences; food and agriculture, mobility and logistics • Capital will be primarily invested in Jordan to help advance its vibrant technology ecosystem  • Partnership reflects ADQ’s commitment to being a long-term investor in the Jordanian ......read more

Abu Dhabi Securities Exchange (ADX) Hits Historic AED 2 Trillion Market Capitalization Milestone…

As a result of this landmark milestone, ADX is now the second largest exchange in the Middle East in terms of market capitalization   Abu Dhabi, UAE - 07 June 2022: The Abu Dhabi Securities Exchange (ADX)’s market capitalization opened above AED 2 trillion (USD 545 billion) on Monday 6th June for the first time in its history, marking a landmark milestone that has made the ......read more

Multiply Group added to FTSE Global Equity Index Series…

Abu Dhabi, UAE - 6 June 2022: Multiply Group (ADX: Multiply or the “Group”), a technology-focused holding company based in Abu Dhabi, has been added to the FTSE Global Equity Index Series (FTSE GEIS) Mid Cap Index in its June quarterly review. The inclusion comes into effect on Monday 20 June 2022.  FTSE GEIS is part of the FTSE Russell, a global index leader that provides ......read more

ADX and 9 listed Companies to meet Major Institutional Investors in London as Strong market ...…

Abu Dhabi, UAE - 6 June 2022:  Abu Dhabi Securities Exchange (ADX) and 9 ADX-listed companies will meet major institutional investors in London on June 9-10 as part of a strong Abu Dhabi capital market representation aiming to further increase portfolio investment into the country’s capital markets.   ADX will showcase its robust progress in its strategy to significantly ......read more

ADEX Chief Holds Meeting with Officials from Department of Economic Development to Discusses ...…

Officials highlight the necessity to develop mechanisms to support economic diversification and promote trade between the UAE and the rest of the world Abu Dhabi, 2 June 2022 - Khalil Al Mansoori, Acting Director General of Abu Dhabi Exports Office (ADEX), met officials from Industrial Development Bureau representing Abu Dhabi’s Department of Economic Development. They reviewed ......read more

ADC Acquisition Corporation Shares to Start Trading on ADX from Friday 27 May…

• The company’s shares and warrants will commence trading on the ADX main exchange from May 27 • The UAE’s first Special Purpose Acquisition Company (SPAC) will aim to identify and acquire one or more high-growth, high potential businesses in the MENA region  • The listing positions ADX at the forefront of regional financial markets   Abu Dhabi, ......read more

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