UAE investment tech sector ‘to grow 2.5 times by 2025’
The investment technology market in the UAE will increase by 145% by the end of 2025, reaching $313.5 million, said analysts of UnaFinancial, a global fintech group of companies. The determining factor for the sector’s growth is government support measures, the growing standard of living and increasing digitalisation in the country. The UAE is characterised […]
Abu Dhabi NPCC wins $1.3bn Aramco projects contract
Abu Dhabi-based National Marine Dredging Company has announced that its key unit National Petroleum Construction Company (NPCC) has secured a $1.3 billion contract from Saudi oil giant Aramco for two key projects as part of the Arab Medium (AM) facilities upgrade scheme. The project scope includes fabrication and installation of 11 slipover production decks modules […]
World’s largest single-site solar power plant opens in Abu Dhabi
Abu Dhabi-based Masdar has joined hands with its partners leading UAE energy company Taqa , French group EDF Renewables and China’s JinkoPower for the launch of 2GW Al Dhafra Solar PV project, the world’s largest single-site solar power plant, spanning more than 20 sq km of Abu Dhabi desert. The project was inaugurated by Masdar […]
EGA starts work on UAE’s largest aluminium recycling plant
Emirates Global Aluminium (EGA), the largest industrial company in the UAE outside oil and gas, has announced that work has begun on its new aluminium recycling plant at Al Taweelah located in the Khalifa Industrial Zone Abu Dhabi (Kizad). The 170,000-tonne per annum facility is coming up next to EGA’s existing smelter and once completed […]
COP28: Radisson rolls out Net Zero Nights initiative in the UAE
To coincide with the upcoming COP28 summit that will begin at the end of this month in Dubai, Radisson Hotel Group has introduced a new initiative called Net Zero Nights. During the 13 days of the UNFCCC COP28 conference, the group said that it would be “making sustainability the default option for all guests staying […]
Abu Dhabi-based PureHealth announces intention to list on ADX
Healthcare giant PureHealth Holding has announced its intention to proceed with an initial public offering (IPO) and list its shares on the Abu Dhabi Securities Exchange (ADX). Trading on ADX is likely to commence in December subject to obtaining regulatory approvals and other required considerations. Hamad Al Hammadi, chairman of the Board of Directors of […]
UAE a key player in global financial sector, says NYSE vice chair
The UAE has solidified its stature as a key player in the global financial landscape by launching economic projects and initiatives that have made it an ideal partner for the New York Stock Exchange (NYSE) in exploring new markets, a senior NYSE official told Emirates News Agency. John Tuttle, vice chairman of the NYSE , said that […]
Nakheel, etisalat by e& ink MoU, here’s how it will help new and old residents
Master developer Nakheel has signed a memorandum of understanding (MoU) with etisalat by e&, the telecom arm of e& in the UAE. As part of the agreement, Nakheel will contact its new and existing customers who rent or buy properties across its portfolio of residences via an automated message, allowing customers to connect directly with […]
UAE’s Tawazun signs $6.3bn defence deals at Dubai Airshow
Tawazun Council , a government entity that works closely with the UAE Ministry of Defence (MoD), announced that it signed deals cumulatively worth Dhs23.1bn ($6.28bn) at the recently concluded airshow. This announcement was made on the the final day of the airshow which saw 10 deals, worth Dhs1.415bn ($383m), signed with local and international companies. […]