India and the UAE have signed seven agreements spanning energy, defence, infrastructure and shipping during Prime Minister Narendra Modi’s brief visit to UAE, the first stop of his five‑nation tour. Giving fresh impetus to the Comprehensive Strategic Partnership, the UAE has announced $5 billion investments in India.
UAE-based Trojan Construction Holding has announced that its key subsidiary - Hi-Tech Concrete Products - has signed an agreement with Abu Dhabi International Pre-Cast Plant (ADIP) to operate a range of precast production units in Al Ain region, including multiple production plants spanning over 179,878 sqm.
DP World has announced that work is moving at a steady pace on the three key facilities within Jebel Ali Rail Terminal, which connects the port directly to the UAE’s national rail network and has an 800,000 TEUs capacity. On completion, the terminal will boast a total capacity of 1.6 million TEUs per annum.
UAE-based National Central Cooling Company (Tabreed) has reported solid results for the first-quarter with a revenue of AED486 million ($132.3 million) and a net profit of AED78 million ($21.2 million) for the three-month period. Its operational performance and cash generation remained resilient for Q1.
Abu Dhabi-based Mubadala Energy has announced that it has made a final investment decision with Kimmeridge and Canada Pension Plan (CPP) for its Commonwealth LNG project that includes successful closing of $9.75 billion in project financing for construction of the 9.5 Mtpa gas export facility in Louisiana, US.
A cargo ship was sunk off Oman and another vessel was reportedly seized near the United Arab Emirates and taken toward Iranian waters on Thursday, underscoring the continuing disruption to shipping through the Strait of Hormuz as diplomatic efforts to ease tensions showed little sign of success.
Multinational commodities trader Trafigura, together with the Egyptian Aluminium Company and Metallurgical Industries Holding Company, has entered exclusive negotiations to co-finance and develop a major new aluminium complex in Egypt.
EDGE Group has signed an agreement to acquire a controlling stake in Costruzio ni Motori Diesel — CMD — a leading Italian company specialised in the design, prototyping, and development of advanced propulsion systems for automotive, marine, and aeronautical applications.
Mohammed Bin Rashid Aerospace Hub (MBRAH), the aerospace platform of Dubai South dedicated to advancing the aviation industry, has launched its Light Industrial and Maintenance Complex, reinforcing its commitment to meeting growing demand across the sector.
A delegation of Dubai Investments has held a high-level meeting with Dr Khalfan bin Saeed Al-Shuaili, Minister of Housing and Urban Planning of Oman, exploring potential investment opportunities in Oman.
