ADQ & ADNEC Group to acquire 40.5% stake in Egypt’s ICON Group
ADQ, an Abu Dhabi-based investment and holding company, and ADNEC Group have signed definitive agreements for the strategic acquisition of a 40.5 percent stake in Egypt-based Talaat Moustafa Group Holding’s hospitality arm, ICON Group through a capital increase. ADQ and ADNEC will invest through a special purpose vehicle, with 49 percent equity ownership by ADQ […]
DEWA records 25% growth in digital transactions in 2023
Dubai Electricity and Water Authority (DEWA) has announced that its customers conducted around 12.5 million digital transactions in 2023, compared to around 10 million digital transactions in 2022, an increase of about 25 percent. This reflects DEWA’s leading role in supporting the wise leadership’s vision to make Dubai the smartest and happiest city in the […]
UAE’s du selects Nokia to modernize Voice Core Network
du, from Emirates Integrated Telecommunication Company (EITC), has selected Nokia to modernize its Circuit Switched Core network. Under the project, Nokia will expand and modernize the existing IP Multimedia Subsystem (IMS) Voice Core Network in order to extend Voice over Long Term Evolution (VoLTE) services. Once fully deployed, the project will enhance voice quality and […]
Aldar pours $272mn into its logistics real estate business
Aldar Properties, the leading real estate developer, investor, and asset manager in the UAE, has announced a further investment of $272 million to expand its logistics real estate business in Dubai and Abu Dhabi. This new investment includes the acquisition of operational assets as well as the development of ready-to-lease and build-to-suit options in response […]
British Business Group Now British Chamber of Commerce Dubai
The Dubai-based British Business Group of Dubai and Northern Emirates (BBG) marks a significant milestone in its history and future by adopting the name ‘Chamber of Commerce’. This group, recognized by both Dubai Chambers and British Chambers of Commerce, will now be known as the ‘British Chamber of Commerce Dubai’ Representing British businesses in Dubai […]
UAE’s e& enterprise partners with fintech platform Fils
UAE’s e& enterprise has entered into a strategic partnership with Fils, a groundbreaking fintech platform, establishing a new standard in the digital payments sector by promoting sustainability. This alliance signifies a milestone in e& enterprise’s continuous pledge to lead the digital transformation regionally and globally, infusing environmental consciousness into every digital transaction. Through this collaboration, […]
IHC announces formation of new holding firm ‘2PointZero’
Abu Dhabi-based International Holding Company has announced the formation of a new holding company, 2PointZero, a next-generation Holding Company comprising several diverse and dynamic companies. According to the statement, IHC’s board approved the initiation of the transfer of entities across several sectors to 2PointZero and the move will be completed after obtaining all regulatory approvals. […]
Arada buys high-end plot near DIFC fo luxury residential tower
Arada has purchased a prime land plot in Zabeel 2 adjacent to Dubai International Financial Centre (DIFC), marking yet another significant expansion milestone for the master developer into the high-end Dubai property market. Valued at $163 million, the plot was purchased from Rital Properties, the real estate subsidiary of Emirates NBD. The 138,466 sq ft […]
Halliburton to establish drilling tool calibration facility at Hamriyah Free Zone
The Hamriyah Free Zone Authority (HFZA) in Sharjah has entered into a strategic agreement with Halliburton, one of the world’s leading providers of products and services to the energy industry. Under the agreement, Halliburton will expand its footprint within the UAE by establishing a cutting-edge facility for calibrating drilling tools used in the oil industry. […]
AD Ports Group unit Noatum acquires APM Terminals Castellón in Spain
AD Ports Group has announced that Noatum Terminals, the terminals operations business of Noatum Group, has acquired 100 percent ownership of APM Terminals Castellón in Spain for a total purchase consideration of $11 million (EUR 10 million). The agreement, which was reached with APM Terminals, has obtained all regulatory and stakeholder approvals and the change […]