EFG Hermes advises on $204mln IPO of Dubai-based Taaleem
UAE – EFG Hermes, a leading investment bank franchise, said its Investment Banking division completed advisory on the $204 million initial public offering (IPO) of Dubai education provider Taaleem. Taaleem has been listed on the Dubai Financial Market (DFM). The Firm acted as Joint Lead Arranger and Joint Global Coordinator on the transaction. Taaleem issued […]
Daimler Truck teams up with DHL to operate new Dubai warehouse
UAE – Daimler Truck AG has announced that its regional unit, Daimler Commercial Vehicles Mena (DCV MENA) has sealed a strategic, long-term partnership with global logistics provider DHL Global Forwarding for the operations and management of its Daimler Truck Dubai Parts Centre. The deal was inked with the co-operation of Danzas AEI Emirates, a joint […]
Abu Dhabi’s ADSCC performs ‘region’s first stem cell transplant’
Doctors at Abu Dhabi Stem Cells Centre (ADSCC), part of PureHealth Group, have performed the region’s first successful bone marrow transplant on a patient suffering from Multiple Sclerosis (MS). The significant achievement in bone marrow transplantation, performed under the Abu Dhabi Bone Marrow Transplant (AD-BMT) programme, demonstrates a major advance in cell therapy and regenerative […]
Dubai rated world’s best ‘winter sun destination’
Dubai has been ranked the best winter destination in the world with the most Google searches for a city and for the most number of things to do in a city during the cooler climes. “Dubai ranks as the best destination in the world for a winter sun vacation. Visitors to Dubai can expect to […]
Sheikh Mohammed announces major project for Dubai’s countryside
The Dubai Ruler has approved a comprehensive plan to develop the emirate’s countryside into touristic destinations. The development plan includes a first-of-its-kind 100km scenic route, natural reserves and areas to practise desert sports. The plan encompasses a 2,216-sqkm area in areas like Lehbab, Aweer and Faqaa, among others, according to a tweet by His Highness […]
DEWA commissions two new transmission substations
Dubai Electricity and Water Authority (DEWA) has commissioned a new 132/11kV substations in Al Awir First with a transmission capacity of 150 MVA, at a total cost of AED180 million. DEWA also inaugurated a new transmission 400/132kV substation in Jebel Ali First and overhead cables with a conversion transmission of 2,000 MVA, at total […]
Abu Dhabi’s GDP expands 11.2% in first half of 2022: SCAD
ABU DHABI – Statistics Centre – Abu Dhabi (SCAD) has announced statistical data that show expansion of Abu Dhabi’s Gross Domestic Product (GDP) in the first half of 2022, reaching 11.2 percent compared to the same period last year. The growth reflects the Emirate’s robust performance and the ability of the economy to maintain competitiveness […]
Gulf Capital opens its new global headquarters in ADGM
Gulf Capital, one of the largest private equity firms investing from the GCC to South and Southeast Asia, has opened its new global headquarters in the Abu Dhabi Global Market (ADGM). The company has also obtained an in-principle approval for an asset management licence from ADGM Financial Services Regulatory Authority. The new office […]
Brazil’s 10M exports to Arab world climb 25.71% to $14.47bln
Brazil’s exports to Arab countries jumped 25.71% to $14.47 billion during the first ten months (10M) of 2022, the Arab Brazilian Chamber of Commerce (ABCC) reported. The exports grew from $11.51 billion in 2021 to $14.47 billion from January to October this year. Brazilian exports to the UAE shot up 46.53% from $1.76 billion in […]
Marriott to open 4 properties in UAE in deal with RDK tourism
Marriott International has signed a deal with RDK Tourism Investment to open four properties in the United Arab Emirates (UAE). The signings are expected to further enhance the company’s footprint in Abu Dhabi and Dubai with the addition of more than 700 rooms across its Marriott Hotels and Resorts, Marriott Executive Apartments and Autograph Collection […]