DP World’s overseas logistics investments since 2012 cross $10bln mark
DP World has invested more than $10 billion (Dh37.3 billion) in the global logistics sector since 2012, making it one of the top five overseas investors in this period, according to the latest foreign direct investment (FDI) data released by leading industry consultants. The FT’s FDI Intelligence recently published its top five list for 2022, […]
Saudi, UAE investors plan to invest in SpaceX – The Information
A unit of Saudi Arabia’s investment fund and an Abu Dhabi-based company are planning to invest in a multi-billion dollar funding round for Elon Musk-led SpaceX, The Information reported on Wednesday, citing people familiar with the discussions. The funding round is expected to value the rocket maker at about $140 billion, the report added. SpaceX […]
Dubai records over $544mln in realty transactions on Wednesday
Dubai real estate market recorded 546 sales transactions worth AED1.41 billion, in addition to 88 mortgage deals of AED479.2 million, and 36 gift deals amounting to AED201.18 million on Wednesday, data released by Dubai’s Land Department (DLD) showed. The sales included 488 villas and apartments worth AED1.18 billion, and 58 land plots worth AED226.73 […]
UAE-India investor meeting to be held in Srinagar
A UAE-India Investor Meet, comprising meetings between entrepreneurs from various emirates and the Jammu and Kashmir government, business networking and discussions on foreign investment opportunities in the Union Territory, will be held in Srinagar city on 19th March. This was announced by the Department of Industries and Commerce of the Jammu and Kashmir government today. […]
Binghatti completes work on key Dubai project ahead of schedule
Binghatti, a leading real estate developer in Dubai, has announced that work has been completed on its prime project, Binghatti Creek, located in Al Jaddaf area within the Dubai Healthcare City, much ahead of its deadline, which was scheduled for the end of this year. The project’s completion date is considered impressive, considering the […]
TECOM Group shareholders approve $54.49mln cash dividend for H2 2022
TECOM Group has approved the Group’s financial statements for the year ended 31st December 2022. The Board of Directors approved to distribute a cash dividend of AED200 million in April 2023, bringing the total amount of dividend distributions for the second half of 2022 to AED400 million. The announcement came during the Annual General […]
Emirates NBD Securities offers trading account opening through DFM application
Emirates NBD Securities, the brokerage arm of the Emirates NBD Group, has become the first securities brokerage in the region to offer seamless trading account opening through the Dubai Financial Market (DFM)’s digital onboarding application. The application provides investors with an additional channel to open a trading account with Emirates NBD Securities, allowing them […]
Deyaar launches seafront residential tower Mar Casa
Deyaar Development has launched its seafront project Mar Casa with a total value of AED1.1 billion. A residential destination at Dubai Maritime City where heritage meets modernity, Mar Casa is connected to the old city, the financial centre of Dubai and the Jumeirah area. Mar Casa presents an iconic architecture that seamlessly blends […]
Mashreq Bank provides $15.5bln of sustainable finance and adaptation-related investments
Joel Van Dusen, Group Head of Corporate & Investment Banking at Mashreq, said that since January 2021, Mashreq has facilitated $15.5 billion of sustainable finance and adaptation-related investments. In a statement to Emirates News Agency (WAM), Dusen said that ESG is related to cash flow in five important ways. It minimises regulatory […]
Abu Dhabi’s ADNOC Gas shares up 18% over IPO price
Shares of ADNOC Gas jumped about 18% over its listing price in the Abu Dhabi market debut on Tuesday. ADNOC Gas’ shares traded at 2.8 dirhams ($0.7625) apiece, versus its initial public offering price of 2.37 dirhams. State-backed oil giant Abu Dhabi National Oil Co (ADNOC) had earlier this month, raised about $2.5 billion […]