UAE’s ADNEC Group acquires French tourism group Karavel
ADNEC Group has acquired Karavel, the French tourism group, from Equistone Partners Europe, one of Europe’s leading mid-market private equity investors. Karavel is one of the largest tourism groups in France, offering travel packages to Europe, the Middle East, and Africa (EMEA) through its vast online and offline distribution network. This acquisition reflects the active […]
ADNOC strikes strategic collaboration agreement with SOCAR
ADNOC and the State Oil Company of Azerbaijan Republic (SOCAR) have signed a strategic collaboration agreement (SCA) that sets out their intention to collaborate on the potential development of low-carbon energy technologies. The SCA, signed at COP28, follows both ADNOC and SOCAR becoming founding signatories of the Oil and Gas Decarbonization Charter, which sets shared […]
ADGM launches ‘Numou’ digital platform for SMEs
Abu Dhabi Global Market (ADGM), the leading international financial center in Abu Dhabi, has introduced Numou, a cutting-edge digital platform tailored to bridge the funding gap faced by SMEs. This innovative digital platform marks a pivotal step in empowering small and medium-sized businesses in the UAE. Numou aims to connect SMEs and lenders through its […]
HYCAP Group anchors its presence in GCC with new ADGM office
HYCAP Group, the UK-based net zero asset management company with clean hydrogen at its core, has opened an office in Abu Dhabi Global Market (ADGM) to support its strategic expansion to the region. At a private event during Abu Dhabi Finance Week, HYCAP Group also revealed plans for a UAE-based GCC Fund that will invest […]
Advanced Technology Research Council launches new AI company ‘AI71’
Abu Dhabi’s Advanced Technology Research Council (ATRC) has launched its new AI company, AI71. The entity builds on the Technology Innovation Institute’s (TII) Falcon generative AI models and will focus on multi-domain specializations while offering unprecedented AI data control options for companies and countries looking to self-host for greater privacy. The new AI powerhouse was […]
CBUAE renews currency swap deal with People’s Bank of China
The Central Bank of the UAE (CBUAE) and the People’s Bank of China have signed an agreement to renew the currency swap between the UAE and China. Furthermore, they inked a memorandum of understanding (MoU) to enhance technical and technological cooperation in the development of central bank digital currencies. The signings will enhance the strategic […]
World’s largest gathering of futurists to convene in Dubai on Nov 27
Dubai Future Forum commences on November 27 and will run for two days. Organised by Dubai Future Foundation (DFF), the forum is taking place at the Museum of the Future. The forum is showcasing four main themes: reimagining nature, empowering future generations, the human-machine relationship, and transformations in human life. More than 150 speakers from the […]
Abu Dhabi Airports anticipates over 22 million travellers in 2023
Abu Dhabi Airports anticipates that its traveller numbers could hit 22 million by the end of this year. Elena Sorlini, managing director and interim chief executive officer of Abu Dhabi Airports, revealed the projected traffic numbers during the the inaugural press round-table held at the new Terminal A building at Abu Dhabi International Airport. The […]
DIFC set to become region’s hedge funds hub
Dubai International Financial Centre (DIFC), a leading global financial hub in the Middle East, Africa and South Asia (MEASA) region, has confirmed that an unprecedented number of hedge funds continue to be set up in the centre, boosting Dubai’s reputation as the region’s top location for the industry. Just in the last three months alone, […]
ADNOC unveils high-speed green hydrogen refuelling pilot station
ADNOC has opened H2GO, the region’s first high-speed green hydrogen pilot refuelling station, to test a fleet of zero-emission hydrogen-powered vehicles. The station, located in Masdar City and operated by ADNOC Distribution, will produce green hydrogen from water, using an electrolyser powered by clean grid electricity. Hydrogen is an energy carrier that creates no carbon […]