UAE: ZHO inaugurates cheese factory under ‘Make it in the Emirates’ slogan
Zayed Higher Organisation for People of Determination (ZHO) inaugurated a factory to produce cheese and its derivatives at its People of Determination Production Centre in Bahia, Abu Dhabi. This remarkable achievement establishes ZHO as a distinguished economic entity, made possible through the collaboration of five talented young Emirati individuals with determination. These individuals, who are […]
DIFC to host first Future Sustainability Forum in Dubai
Dubai International Financial Centre (DIFC) has announced it will host the inaugural edition of the Future Sustainability Forum ahead of COP28. Set to galvanise key stakeholders, including the finance and insurance sectors, towards accelerating net-zero goals, the forum offers a platform to explore future sustainability and climate technologies critical for the world’s net-zero agenda and […]
OMV enters talks with ADNOC to form global chemical giant
Austria’s OMV is entering talks with Abu Dhabi National Oil Company (ADNOC Group) about combining some of their assets to create a chemicals and plastics giant. OMV’s executive board decided to pursue negotiations with state-owned ADNOC about a potential merger of Borouge and Borealis, it said in a statement Friday, confirming a Bloomberg News report. […]
Dubai’s Taaleem posts $54.5m profit since IPO
Dubai’s Taaleem Holdings said its net profit in the nine months to the end of May 2023 surged by 34.9 per cent to $54.5m (Dhs199.8m), driven by a surge in student enrollments and higher net finance income from the undeployed initial public offering (IPO) proceeds. Taaleem raised $204m from its IPO on the Dubai Financial Markets […]
UAE, Austria sign air transport services deal
The UAE has signed an air transport services agreement with Austria in Vienna. The agreement, which aims to boost air transport ties between the two nations, was signed on behalf of the Emirates by Hamad Al Kaabi, UAE Ambassador to the Republic of Austria, and on the Austrian side by Peter Launsky Tieffenthal, Secretary-General of […]
2024 Abu Dhabi Grand Prix dates revealed
The dates for the 2024 edition of the Formula 1 Etihad Airways Abu Dhabi Grand Prix have been revealed, with Yas Marina Circuit set to host the season finale to F1’s longest ever season from December 5-8, 2024. The official announcement from Formula One Management confirmed the Abu Dhabi track will host the 24th and […]
Mohammed bin Rashid Al Maktoum Solar Park: A global model for clean energy leadership
The UAE is among the largest countries in the world to invest in clean and renewable energy projects and was the first country in the Middle East and North Africa to launch a strategic initiative to achieve net-zero carbon emissions by 2050. During the Year of Sustainability, it hosts the Conference of the Parties […]
Iberdrola, UAE’s Masdar to develop $1.5bln Baltic wind farm, Expansion reports
Spanish utility Iberdrola has signed an exclusive deal with Abu Dhabi’s Masdar to develop a 476 megawatt (MW) offshore wind farm in German waters in the Baltic Sea, Expansion newspaper reported on Wednesday, citing unidentified market sources. The Baltic Eagle wind farm being built off Germany’s northeastern coast will have 50 wind turbines and is […]
Abu Dhai’s Mubadala invests in CoolIT Systems alongside KKR
Mubadala Investment Company has announced that it invested alongside investment funds managed by KKR, a leading global investment firm, in the acquisition of CoolIT Systems (CoolIT), which was announced on 2nd May 2023. Headquartered in Calgary, Canada, with operations across North America, China and Taiwan, CoolIT specialises in scalable liquid cooling solutions for the world’s […]
Sharjah real estate transactions valued at $653.4mln in May 2023
The emirate of Sharjah’s real estate activity during May 2023 logged a total value of AED 2.4 billion, futher enhancing Sharjah’s position as an ideal destination for investors, businessmen, and families. The Real Estate and Mortgage Report issued by Sharjah Real Estate Registration Department (SRERD) revealed that 3,540 transactions were recorded in various regions and […]