UAE’s Agthia Group posts Dhs3.27bn in nine-month revenue
UAE food and beverages group Agthia said its net revenue in the first nine months of 2023 rose by 10.9 per cent to Dhs3.27bn year-on-year (YoY), driven by a robust performance from the snacking and agribusiness segments as well as a more competitive and price-sensitive backdrop in some markets. The group’s snacking segment, product and […]
Saudi Agricultural Exhibition witnesses signing of 16 agreements with investments exceeding $800mln
The activities of the day one of the 40th session of the Saudi Agricultural Exhibition, held under the patronage of Eng. Abdulrahman bin Abdulmohsen Al-Fadhli, the Minister of Environment, Water, and Agriculture, started today in Riyadh. The day witnessed the signing of 16 agreements, with investments exceeding SAR3 billion, and three memorandums of understanding for […]
Bahrain’s GFH acquires Saudi food services and logistics company for $133mln
Bahrain’s GFH Financial Group has confirmed it will acquire a Saudi Arabian food services and logistics business for SAR 500 million ($133 million). In a statement to Dubai Financial Market (DFM), GFH said the company had an enterprise value of SAR 500 million. Razi Al Merbati, CEO of GFH Capital S.A., said: “This transaction will […]
EDB supports food security with Dhs721m under its five-year strategy
UAE’s Emirates Development Bank (EDB) has approved more than Dhs721m in funding for food security projects since the launch of its new strategy in April 2021. The development lender has allocated Dhs30bn to support 13,500 small to medium enterprises (SMEs) in five priority sectors – manufacturing, renewables, technology, healthcare, and food security. “It is important […]
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 […]
India to export rice to the UAE: 75,000 tonnes approved through NCEL
The Indian government will allow the export of rice to the UAE. This exception to the export ban was made by the Indian government for a pre-determined quantity of non-basmati white rice. According to the notification by India’s Directorate General of Foreign Trade on Monday evening, the UAE will receive to the tune of 75,000 tonnes […]
Safe Haven Solutions to build high-tech greenhouse at ADQ’s AgTech Park
ADQ, an Abu Dhabi-based investment and holding company, has partnered with Safe Haven Solutions, a Netherlands-based climate-smart agriculture solution provider, to construct a high-tech greenhouse at ADQ’s AgTech Park in KEZAD. The automated 10-hectare facility will leverage advanced agricultural technology to increase sustainable food production in the UAE. Designed to be sustainability-focused, the greenhouse facility […]
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 […]
Sharjah’s ‘Cows Project’ sets it apart: Sharjah Ruler
H.H. Dr. Sheikh Sultan Bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, said via the direct line programme on Monday that the cattle project that will be launched in Sharjah has no equivalent in the world. He stressed that “the cows project”, which will be launched in Sharjah, will include cows that […]
UAE astronaut Sultan AlNeyadi now on experiment to explore possibility of making food, medicines in space
UAE astronaut Sultan AlNeyadi, who is now in his third week aboard the International Space Station, is working on a gravity simulator as part of his experiment on space biomanufacturing, the Mohammed in Rashid Space Centre (MBRSC) has tweeted on Wednesday. “This experiment contributes to the advancement of space biomanufacturing, which includes the production of […]