Alpha Dhabi acquires stake in NTS Amega Global
Alpha Dhabi Holding has acquired a 51 percent stake in NTS Amega Global, a renowned cutting-edge manufacturing, repair, and rental solutions provider in the Oil & Gas sector. With this acquisition, NTS Group cements its position as a global frontrunner in producing drilling, subsea, top-side, and process components. This encompasses repairing Measuring and Logging While […]
ADCCI pens MoU with Abu Dhabi Convention & Exhibition Bureau
The Abu Dhabi Chamber of Commerce and Industry (ADCCI) has signed a Memorandum of Understanding (MoU) with the Abu Dhabi Convention and Exhibition Bureau, part of the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) in order to enhance cooperation between the two entities. The MoU also intends to enhance joint coordination […]
Abu Dhabi’s Invest AD launches Blackstone Private Debt Fund
Abu Dhabi Investment Company (Invest AD), a wholly owned subsidiary of Mubadala Investment Company, has launched the Invest AD Blackstone Private Debt Fund, an SCA-regulated fund, which will offer local feeder access to Blackstone’s US and European private credit strategies. The feeder brings Blackstone’s institutional-caliber credit platform to qualified non-US investors, primarily in the UAE. […]
Core42 to explore digital security solutions of Hader
Core42, a G42 company and the leading digital transformation provider, has signed a Memorandum of Understanding (MoU) with Hader Security & Communications Systems, an Abu Dhabi-based systems integrator, to establish a strategic cooperative partnership to equip critical entities with advanced digital solutions for safety and security. The agreement was formalized in an official signing ceremony during […]
Abu Dhabi launches Smart & Autonomous Vehicle Industries cluster
The Smart and Autonomous Vehicle Industries (SAVI) cluster was launched at Masdar City to position Abu Dhabi as a leading smart and autonomous vehicles hub, making significant contributions across air, land, and sea mobility applications, further enhancing Abu Dhabi’s industrial evolution. SAVI will support innovation and the commercialization of smart and autonomous vehicle technologies in […]
Abu Dhabi launches trials for automated rapid transit project
Abu Dhabi has launched the pilot phase of the Automated Rapid Transit (ART) project on Abu Dhabi Island. The move is part of a broader strategy by the Integrated Transport Centre (ITC) of the Department of Municipalities and Transport (DMT) to develop an integrated and smart public transportation system that supports local development. The ITC […]
ADQ-backed Silal acquires majority stake in SAFCO Group
ADQ-backed Silal has acquired a majority stake in SAFCO Group, a UAE food and beverage distributor, in a deal that will bolster the company’s market presence and expand its footprint in the food service and distribution industry. The Abu Dhabi-based agtech firm said the transaction aligns with its growth ambitions and significantly strengthens its presence […]
Sovereign wealth fund ADIA optimistic on equities, private credit after turbulent 2022
Sovereign wealth fund Abu Dhabi Investment Authority (ADIA) said it was optimistic about public equities for 2023 after last year’s market rout, driven by high inflation and rising interest rates, weighed on stocks’ valuations, making them more attractive. The fund was also looking at opportunities in the private credit market, as banks become more cautious […]
UAE’s ADNOC awards multibillion gas expansion contracts
UAE’s ADNOC Group has awarded contracts worth $16.9bn to develop an offshore natural gas field that will operate with net zero carbon dioxide emissions. The two engineering, procurement and construction (EPC) contracts for the Hail and Ghasha Offshore Development project will produce 1.5 billion standard cubic feet per day (bscfd) of gas before the decade’s […]
ADNOC Distribution to use biofuel to power its UAE vehicle fleet
ADNOC Distribution said its UAE heavy vehicle fleet will be powered by biofuel, a move that is set to reduce carbon dioxide emissions from the fleet by 15 per cent. The fleet of the UAE’s largest operator of fuel stations and convenience stores plays a crucial role in supplying fuels and liquefied petroleum gas (LPG) […]