Abu Dhabi expo, meetings sector stages strong comeback
Abu Dhabi’s events sector witnessed a strong and lively comeback in May as the Abu Dhabi National Exhibitions centre (Adnec) played host to a number of major international conferences and events. Adnec, the largest exhibition and conference centre in the Middle East and North Africa, hosted 10 major local and international events, including five […]
RTA opens Dubai-Al Ain road following $544mln revamp work
Dubai has announced the official opening of the road linking Al Ain following the completion of revamp work at a total cost of AED2 billion ($544 million). The scope of the Dubai-Al Ain Road Improvement Project spans 17 km from the intersection of Emirates Road to the intersection of Ras Al Khor Road along the […]
Abu Dhabi-listed Fujairah Cement Industries gets nod to withdraw from Boursa Kuwait
UAE-based producer Fujairah Cement Industries is marking its last day of trading on Boursa Kuwait today. The company has already obtained the approval of Capital Market Authority-Kuwait for the voluntary withdrawal of its shares from the Kuwaiti stock market, according to a disclosure on the Abu Dhabi Securities Exchange (ADX). “November 30, 2022 will be […]
Abu Dhabi’s ADNOC Drilling signs deal to acquire two offshore drilling units
ADNOC Drilling, a subsidiary of Abu Dhabi National Oil Company (ADNOC), is acquiring two more premium offshore jack-up drilling units, to boost its oil production capacity and meet growing demand, the company said on Monday. The company has just signed a sale and purchase agreement (SPA) for the drilling unit expansion, which is part of […]
Utico plans share buyback ahead of IPO
Utico, a UAE’s utility firm, plans a share buyback ahead of its initial public offering (IPO) and stock market listing later this year. The privately-owned firm is in talks with six banks for the IPO and listing. “As part of the IPO preparations, shareholding changes are underway where consolidation is ongoing,” said Richard Menezes, […]
UAE-Egypt-Jordan industrial partnership paves way for ‘unprecedented cooperation’— Shamali
The comprehensive industrial partnership for a sustainable economic development initiative that Jordan, the UAE and Egypt signed on Sunday establishes “unprecedented cooperation” to realise economic integration in various fields, mainly at industry level, Minister of Industry, Trade and Supply Yousef Shamali said on Sunday. In a press statement following the signing ceremony, Shamali said that […]
SAA in bid make new alliances at Air Cargo India
Sharjah International Airport Authority (SAA) will participate in Air Cargo India 2022 – scheduled to be held in Mumbai from May 31 to June 2 to showcase its latest services, strengthen existing partnerships and develop new alliances. This event, which will be held at Grand Hyatt in Mumbai, is one of the most important exhibitions […]
Malaysia’s Serba Dinamik signs agreements for vertical farming, oil and gas, construction projects in the UAE
Malaysia-based international energy services company Serba Dinamik Sdn Bhd (Serba Dinamik) announced on Monday that it has signed Memorandum of Agreements (MoA) in the UAE for vertical farming, infrastructure and property development, and integrated solutions for the oil and gas industry. The statement quoted the group managing director and chief executive Officer Dato’ Dr Mohd […]
Top Dubai DFM-listed firms to be part of London investor roadshow
Top Dubai Financial Market (DFM)-listed companies, including the new entrant Dubai Electricity and Water Authority (DEWA), are set to be part of a London investor roadshow next month amid measures by the exchange to revive itself. The DFM plans to organize its annual 2022 International Investors Roadshow on 9th and 10th June 2022, in collaboration […]