The Board of Directors of First Abu Dhabi Bank (FAB) has approved a proposal to raise up to AED15 billion ($4.08 billion) through a strategic rights issue, subject to the required shareholder and regulatory approvals.
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Dubai has approved a total budget of more than AED11 billion ($3.15 billion) for development of its strategic projects through 2040 - including AED9.59 billion ($2.61 billion) for future-ready infrastructure and AED2 billion ($544 million) for extension of the Dubai Metro to Al Maktoum International Airport City.
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Dubai developer Nakheel has unveiled Palm Springs, a 3.8 million sq m residential masterplan adjacent to Palm Jebel Ali in southern Dubai featuring a mix of villas, townhouses and apartments. Planned for 50,000 residents, it will bring together homes, education, healthcare, sport and leisure facilities across 15 neighbourhoods.
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Dubai master developer Emaar has announced that a new commercial and office district spanning 300,000 sq m is being planned alongside Dubai Square in Dubai Creek Harbour, at a total investment of AED12 billion ($3.27 billion). It will include direct access to two metro stations and Dubai Square, alongside four hotels and three urban parks.
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GCC capital markets have witnessed significant development in recent years, driven by governments’ efforts to diversify funding sources and deepen capital markets, said top rating agency Fitch, adding the combined market capitalisation of listed equity markets across the Gulf region stands at around $4 trillion.
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Abu Dhabi National Oil Company Logistics & Services (ADNOC L&S) has confimed that one of its vessels was damaged in an attack in the UAE's territorial waters in the Arabian Gulf. Response efforts by the relevant teams were under way, it added.
Aluminium Bahrain (Alba), the world's largest aluminium smelter at a single site, reported a 44.3% year-on-year increase in nine-month net profit to hit BD158.7 million ($422 million), despite regional geopolitical disruptions that continued to affect aluminium supply chains and production.
Leading UAE developer Damac Properties has entered into a land acquisition agreement with Al Zorah Development Company to build a mixed-use waterfront residential project along the creek within Al Zorah district in Ajman at an investment of AED3 billion ($816 million).
UAE developer H&H said work is in full swing at its premium AED30 billion ($8.16 billion) Dubai Peninsula waterfront destination in Jumeirah with underground infrastructure works already 45% complete. It will be home to five world-renowned hospitality brands and a superyacht marina.
Aramex, a global leader in logistics and transportation sectors, has reported a group revenue of AED1.98 billion ($517 million) for the third quarter, up 24% over last year, thus surpassing the previous quarterly record achieved in Q2. The revenue for the first nine months surged 16% to hit AED5.4 billion ($1.5 billion).
Oman’s Sohar Freezone has signed six land-lease agreements representing planned investments of more than RO63 million ($163 million) across a combined area of over 440,000 sq m in the sultanate, covering automotive and advanced industries, transformer manufacturing and specialised logistics.
The National Infrastructure Fund (Infra) and Humain, a Saudi PIF company delivering full-stack AI capabilities globally, have announced the signing of two financing deals worth SAR2.5 billion ($667 million) to support AI computing deployment and the development of critical power infrastructure in the kingdom.
UAE-based Samana Developers said its real estate brand Samana Collecta has joined hands with Maserati for the launch of its flagship destination in The World Islands, Dubai. The Maserati Island features 840 branded residences alongside seven ultra-exclusive water villas and two tree villas.
Egyptian group Madkour Projects said it has secured a key contract from Oman Electricity Transmission Company, a member of Nama Group, to build a 400kV grid station at Sadaf. The contract also covers the associated 400kV loop-in loop-out (LILO) link from the Suwaihat-Duqm Industrial Grid Station line.
Saudi Power Procurement Company (Principal Buyer) has released a request for qualification (RFQ) for the eighth rou...
ADNOC Logistics and Services (ADNOC L&S) posted a 321 per cent surge in third-quarter net profit to $887 million, a...
Air Arabia reported a 42 per cent year-on-year decline in net profit to AED 383 million ($104 million) for the thir...
ADNOC Logistics and Services (ADNOC L&S) posted a 321 per cent surge in third-quarter net profit to $887 million, a...
Cumulocity, a leading industrial AIoT platform, has signed a memorandum of understanding (MoU) with Siemens Energy ...
The growing relationship between artificial intelligence and energy is reshaping the UAE's investment landscape, as...
Moon World Resorts has appointed Lerch Bates as vertical and horizontal transportation + multidisciplinary enginee...
The Abu Dhabi Chamber of Commerce and Industry (ADCCI), represented by its Al Dhafra branch, has highlighted a rang...
Yango Group, a UAE-based global technology company, has launched an educational initiative to help schoolchildren a...
Amazon UAE has become the first e-commerce retailer integrated onto the Ministry's Essential Goods Prices Platform...
The UAE, which captures 3.1% of global foreign direct investment (FDI), has built one of the world’s most successfu...
Dubai South, the largest single-urban master development focused on aviation and logistics, has broken ground on Fo...
WSP, one of the world's leading engineering, science and infrastructure solutions firms, has won Project of the Yea...
Abu Dhabi National Oil Company Logistics & Services (ADNOC L&S) has confimed that one of its vessels was damaged in...
