UAE one of most important Arab countries investing in Malaysia: Al Jarwan

Jamal Saif Al Jarwan, Secretary-General of the UAE International Investors Council (UAEIIC), said that the UAE is one of the most important Arab countries investing in Malaysia, as many Emirati companies own stakes in various investment projects in Malaysia. Al Jarwan told the Emirates News Agency (WAM) that the UAEIIC is keen to explore prospects […]

Tadweer rolls out larger-capacity green containers to enhance recycling in Abu Dhabi

Abu Dhabi Waste Management Company (Tadweer) has announced a new initiative aimed at improving waste segregation and promoting recycling practices throughout the Emirate. To address the challenges of waste segregation, Tadweer’s new strategy includes the rollout of new, larger-capacity green recycling containers in defined, central locations. Green recycling containers are designated for recyclable materials only, […]

Abu Dhabi apartment rents fall marginally in year to Q1 2023

Abu Dhabi’s average apartment rents dropped by 0.7% in the year to March 2023 while villa prices grew by 1.1%. CBRE’s UAE Real Estate Market Review for Q1 2023 showed that sales prices for both apartments and villas increased during the year, by 1.4% for apartments and 1.6% for villas. The number of off plan […]

Masdar plans huge increase in clean energy capacity

  Abu Dhabi Future Energy Company (Masdar) has announced that it has nearly doubled its clean energy capacity and CO2 displacement in just two years and is on track to fulfil its ambition of becoming one of the world’s largest renewable energy companies by 2030. According to the company’s Sustainability Report, Masdar achieved a clean […]

UAE: ADDED, ADIB to facilitate digital business banking account opening

  Abu Dhabi Department of Economic Development (ADDED) has signed a Memorandum of Understanding (MoU) with Abu Dhabi Islamic Bank (ADIB) to jointly offer bank account opening procedures for investors and business licence owners issued by ADDED, facilitating business in Abu Dhabi. The collaboration between the two parties aim to simplify and expedite the process […]

GMPC sees lowers profits in Q1-23 initial financials

The net profits attributable to the owners of Gulf Medical Projects Company (GMPC) hit AED 13.21 million in the first quarter (Q1) of 2023, an annual drop from AED 15.15 million. The revenues jumped to AED 135.95 million in the January-March 2023 period from AED 124.72 million in Q1-22, according to the interim financial results. […]

Consortium plans to develop $5bln UAE-Oman-India undersea pipeline

South Asia Gas Enterprise (SAGE), a consortium of companies in deepwater pipeline projects, is planning a $5 billion undersea liquefied natural gas (LNG) pipeline from the Gulf to India. The consortium has sought help from India’s Ministry of Petroleum to develop the pipeline, Financial Express reported, citing SAGE director Subodh Kumar Jain. The project’s technical […]

Admiral Mobility partners with Avis to lease electric trucks

Admiral Mobility, a subsidiary of US-based Admiral Corporation of America, has partnered with vehicle hire company Avis to bring electric commercial trucks to the leasing market in the UAE. The strategic partnership represents a commitment to deliver the GCC’s largest rollout of electric commercial trucks, which will be leased to fleets across the UAE, the […]

UAE’s Aldar Investment Properties plans 10-year $500mln green sukuk – document A general view shows the headquarters of Aldar Properties at Al Raha Beach in Abu Dhabi. Ben Job, Reuters , Reuters Images A general view shows the headquarters of Aldar Properties at Al Raha Beach in Abu Dhabi. Ben Job, Reuters Reuters Images Initial price guidance for the sukuk, which will be issued under the company’s Green Framework, was given at 185 basis points (bps) over US Treasuries, the document said Rachna Uppal, Reuters News May 17, 2023 ISLAMIC FINANCESUSTAINABILITYMARKETSREAL ESTATEUAESUKUK DUBAI – Aldar Investment Properties plans to issue a $500 million 10-year debut green Islamic bond, or sukuk, on Wednesday, according to a bank document seen by Reuters. Initial price guidance for the sukuk, which will be issued under the company’s Green Framework, was given at 185 basis points (bps) over US Treasuries, the document said.

Aldar Investment Properties plans to issue a $500 million 10-year debut green Islamic bond, or sukuk, on Wednesday, according to a bank document seen by Reuters. Initial price guidance for the sukuk, which will be issued under the company’s Green Framework, was given at 185 basis points (bps) over US Treasuries, the document said.   […]

ADIB Egypt reports 125.4% YoY climb in Q1 consolidated profits

 Abu Dhabi Islamic Bank Egypt (ADIB) reported a 125.4% year-on-year (YoY) increase in consolidated profits after tax and non-controlling interests for the first quarter (Q1) of 2023, according to the bank’s financial statements filed to the Egyptian Exchange (EGX) on May 14th. The bank recorded a consolidated net profit after tax of EGP 1.005 billion […]