Krohne to unveil innovative products at World Utilities Congress

Krohne, a global manufacturer and supplier of solutions in industrial process instrumentation, is set to showcase its innovative thought process and precision engineered product portfolio at the upcoming World Utilities Congress 2023 to be held in Abu Dhabi. An increasingly important platform in the global arena of power, water and nuclear discussions, World Utilities Congress […]

Dubai developer Nakheel launches Como Residences on Palm Jumeirah

based master developer Nakheel has launched Como Residences, a new residential development on Palm Jumeriah. The 71-storey residential tower is over 300 metres tall and features an innovative design that ensures each residence can take full advantage of the 180° to 360° views of Dubai and the Arabian Sea, the developer said in a statement. Como […]

Dubai Islamic Bank to acquire 25% stake in Turkey digital bank

  Dubai Islamic Bank, the UAE’s largest Islamic lender, said on Wednesday its board of directors has approved a proposal to acquire 25% stake in a new digital banking group in Turkey in line with its international expansion strategy. The Dubai Financial Market-listed lender in a regulatory statement on Wednesday neither named the digital bank […]

Abu Dhabi’s Aldar Properties posts 22% jump in Q1 2023 net profit

The UAE developer Aldar Properties posted a 22% increase year-on-year (YoY) in Q1-2023 net profit to 836 million dirhams ($228 million), and said it expects “robust real estate market dynamics” to sustain through 2023. The net profit easily topped analysts’ mean estimate of AED747.7 million, according to data compiled by Refinitiv’s Eikon. Group revenue for […]

Dar Global awards $32mln fit-out contract for Da Vinci Tower in Dubai

Dar Global, the global arm of Saudi developer Dar Al Arkan, has awarded a fit-out works for 800 million UAE dirhams ($217.86 million) Da Vinci Tower in Business Bay to Shapoorji Pallonji Mideast. The contract is valued at AED 116 million ($31.59 million). “Awarding the fit-out works follows a rigorous selection process,” the LSE-listed Dar […]

DIFC to host inaugural Dubai FinTech Summit next week

  Dubai is set to host the first-ever Dubai FinTech Summit on 8th and 9th May under the patronage of H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance. The Summit will be organised by Dubai International Financial Centre (DIFC) at Madinat Jumeirah and […]

UAE’s Jaber urges donors to deliver on $100 bln pledge to developing countries

The UAE’s president-designate of the COP28 climate summit urged donors to deliver on a $100 billion pledge promised 14 years ago to developing countries and blamed delays in delivery for hindering climate action. “Expectations are high. Trust is low,” Sultan al-Jaber told the Petersberg Climate Dialogue in Berlin on Tuesday. “This is holding up progress […]

Azizi nearing sellout for 256 pool-facing Dubai residences

UAE-based Azizi Developments has announced the sale of almost all of its 256 pool-facing homes at Beach Oasis, a vibrant mixed-use community in Dubai with two buildings comprising a total of 476 studios, 200 one- and 36 two-bedroom residences as well as several key retail units. Built for the modern, young adults, Beach Oasis is […]

Hedge fund Ray Dalio to open branch of family office in Abu Dhabi

American billionaire investor and hedge fund manager Ray Dalio plans to set up a branch of his family office in Abu Dhabi as part of plans to push into the Middle East, Bloomberg reported on Wednesday. The new branch will build upon the Dalio Family Office’s existing hubs in the US and Singapore, the report […]

Mubadala-backed M42 acquires Bridgepoint’s dialysis firm Diaverum

Abu Dhabi’s M42, a newly created healthcare joint venture by state fund Mubadala Investment Company and artificial intelligence firm G42, has acquired Bridgepoint Group’s European dialysis clinic chain Diaverum. M42 will buy Sweden-based Diaverum, making it the largest healthcare company in the Middle East, it said in a statement. M42 did not disclose the value […]