Category: Business

Abu Dhabi National Oil Company has entered an agreement with RIQ to secure over $500 million in risk coverage across the next ten years. The AI-driven reinsurance platform, backed by International Holding Company, will work closely with ADNOC to structure capital-efficient protection tailored to complex operational, climate-related and specialty risks using advanced modelling and AI-augmented underwriting. ADNOC Secures $500 Million AI-Driven Reinsurance Pact embodies this forward-looking collaboration and underscores Abu Dhabi’s ambition to emerge as a global hub for reinsurance

Entrepreneurship is a challenge, especially when it comes to your own project: a small restaurant, a boutique, or an online store. For many women, starting a business feels like a personal trial, a test of resilience. But in reality, any business is a game, an opportunity to grow, create something of your own, and bring ideas to life. And yes, every business faces crises. But this is a natural environment, like in sports: there are ups and downs, competitors, and

A $2.62 billion, 10‑year credit facility has been secured by Khazna Data Centres, underwritten by a consortium led by Abu Dhabi Commercial Bank and First Abu Dhabi Bank, providing a substantial boost to the company’s strategy for regional and global expansion. The funds are earmarked to accelerate build‑out of high‑capacity data hubs across the Middle East and North Africa, with a clear focus on supporting high‑demand, AI‑intensive infrastructure. The funding comes at a time when data centre capacity in the region is

Sobha Realty, the Dubai-based luxury developer rated Ba2 by Moody’s and BB by S&P, is advancing plans to issue its inaugural green, US dollar‑denominated, Regulation S benchmark sukuk under its established USD 1.5 billion trust issuance programme. The five‑year, fixed‑rate, senior unsecured sukuk offering carries a stable outlook from both agencies. The firm has shifted from tapping into conventional capital markets toward the growing sustainable finance segment. Preparing to launch its first green sukuk, Sobha Realty underscores its intent to align financing strategies with

The Amadea, a striking 106‑metre superyacht once valued at around $325 million, is slated for a sealed‑bid auction in the United States on 10 September 2025, yet mounting litigation and financial burdens cloud its prospects. Built by renowned German shipyard Lürssen and completed in 2017, the six‑deck vessel offers unparalleled opulence: spa, gym, helipad, swimming pool, cinema and marble‑clad interiors by François Zuretti, plus accommodation for 16 guests and 36 crew members. Seized by U. S. authorities in Fiji in 2022 and

Saudi Arabian Oil Company disclosed net profit of $22.67 billion for the second quarter of 2025, marking a 22 per cent year‑on‑year decline and extending the downturn to its tenth straight quarter. The drop coincided with a missing of the $23.7 billion analyst consensus estimate, underscoring pressure from weakening crude prices and softer demand. Revenue downturn was central to this performance. Total income fell to $101.02 billion, down 11 per cent from the same quarter a year earlier, driven by lower crude, refined and chemical product prices, despite

Amanat Holdings has achieved a significant financial return, posting a net cash gain of AED 294 million following the sale of North London Collegiate School’s real estate assets in Dubai. The deal, valued at AED 453 million, marks a successful exit from a property investment held since 2018. The company’s total investment in the Dubai asset amounted to AED 393 million, comprising an initial acquisition cost of AED 360 million and a subsequent capital expansion of AED 33 million. This

DP World has reported a significant rise in revenue for the first half of 2025, with figures climbing 20.4 per cent to reach $11.24 billion. This growth was primarily driven by strong performance in its Ports & Terminals division, as well as the positive impact of acquisitions completed in recent months. The company’s adjusted EBITDA also saw an impressive increase, up by 21.4 per cent to $3.03 billion. This growth in earnings before interest, taxes, depreciation, and amortisation reflects the operational

CI Financial has been officially taken private by Mubadala Capital following the completion of all necessary approvals, effective 12 August 2025. The deal, structured under a statutory plan of arrangement governed by Ontario’s Business Corporations Act, sees Mubadala Capital purchasing all outstanding common shares of CI Financial for C$32 per share, valuing the company’s equity at approximately C$4.7 billion and implying an enterprise value near C$12.1 billion. The transaction adds CI Financial to Mubadala Capital’s expanding roster of asset management businesses,

Abu Dhabi-listed Lulu Retail Holdings has posted a modest profit increase for the second quarter of 2025, with net earnings reaching $57 million, up by 2% year-on-year. The retail giant’s revenue for the quarter rose by nearly 5%, hitting $2 billion. This growth was primarily attributed to like-for-like sales growth of 2.1%, reflecting strong consumer demand across its diverse range of products. In the first half of the year, Lulu Retail Holdings’ performance remained robust, with a 9% rise in net

Amanat Holdings, a Dubai-based company listed on the Dubai Financial Market, has entered into a sale and purchase agreement to divest its real estate assets linked to North London Collegiate School. The deal, valued at 453 million dirhams, marks a significant step in the company’s ongoing strategic restructuring and focus on its core investment areas. The assets in question are situated within a prominent North London location and have attracted substantial attention from investors, both in the region and internationally.

Dubai Electricity and Water Authority has unveiled its strongest-ever financial performance for the first half of 2025, with significant growth across all key metrics. The company achieved an impressive revenue of AED14.6 billion, an EBITDA of AED7.0 billion, and a net profit of AED2.9 billion, marking notable year-on-year increases. DEWA’s results for H1 2025 reflect the effectiveness of its ongoing investments in infrastructure, as well as its ability to meet increasing demand. The utility reported a 6.9% increase in revenue,

ServeU, a prominent facilities management firm in the UAE, has secured a strategic acquisition of House Keeping and its domestic workers division in a deal valued at 100 million dirhams. This acquisition marks a significant move for ServeU, expanding its presence in the domestic workforce segment and enhancing its service capabilities. The acquisition, finalized by ServeU, includes both the House Keeping brand and its subsidiary operations. Despite the change in ownership, the company will retain its established brand identity while integrating

Alpha Dhabi Holding has reported a significant surge in its second-quarter net profit for 2025, reaching AED 4.53 billion, marking a 118% increase from AED 2.08 billion during the same period in 2024. This growth reflects the investment conglomerate's strategic positioning in Abu Dhabi's dynamic market and its diversified portfolio of high-value assets. Revenue for the quarter also saw an uptick, rising to AED 18.4 billion from AED 15.1 billion in Q2 2024, driven largely by strong performances in its real

e& has reported an impressive net profit of AED 3.5 billion for the second quarter of 2025, up 9.7 per cent year‑on‑year, driven by a substantial rise in its global subscriber base. The company’s performance outstripped the average analyst forecast of AED 2.84 billion, underlining robust execution in a competitive market. Consolidated revenue for Q2 rose 28.1 per cent to AED 18.0 billion, while earnings before interest, tax, depreciation and amortisation increased by approximately 22.2 per cent year‑on‑year to AED 8.0 billion, yielding an EBITDA margin of around 44–44.5 per cent. For

Gold retailer Joyalukkas has secured a significant financing deal with Emirates NBD, confirming a revolving credit facility of 500 million UAE dirhams. The facility will aid Joyalukkas in accelerating its expansion strategy across key international markets, which include the GCC, UK, US, Canada, and Australia. The partnership between Joyalukkas and Emirates NBD is designed to support the retailer’s ambitions by ensuring smooth operational liquidity, particularly during high-demand periods. As part of the agreement, the bank will provide inventory financing to Joyalukkas,

Investcorp Capital, a leading alternative investment firm, has appointed Sana Khater as its new Chief Executive Officer, effective September 1. Khater’s appointment marks a significant leadership change for the Abu Dhabi-listed firm, as she succeeds Mohamed Aamer, who led the company for several years. Khater brings a wealth of experience to the role, having spent 35 years in C-suite positions across both listed and private sector companies. Her career spans multiple high-profile financial institutions, where she demonstrated expertise in corporate finance,

Arada Developments has turned to the debt markets for financing, following its decision to issue a sukuk bond aimed at capitalising on the construction boom within the Gulf Cooperation Council region. With its credit ratings from Moody’s and Fitch at B1 and B+, respectively, the company has mandated a consortium of major banks to facilitate the issuance of a five-year fixed-rate sukuk. The sukuk will be issued under Arada Sukuk 2 Limited's $1 billion Trust Certificate Issuance Programme, a key

Emirates Integrated Telecommunications Company PJSC, known as du, has reported significant financial growth for the second quarter of 2025, continuing a trend of robust performance established in the previous quarter. The company recorded an 8.6% year-over-year increase in revenues, signalling strong performance across its various business segments. This growth highlights du's solid market position and operational efficiency in a highly competitive telecommunications sector. The company’s EBITDA saw a remarkable increase of 16.4%, pushing the EBITDA margin to 46.8%. This represents

Dubai is known for its vibrant event scene, from corporate functions and exhibitions to weddings, private dinners, and luxury celebrations. With so many events taking place every day, finding the right catering Dubai provider has become an essential part of successful planning. Key Factors to Consider When Booking Catering in Dubai Menu Variety Dubai is a multicultural city, and guests often expect a wide selection of international cuisines. The best catering companies offer customizable menus that include everything from Arabic and Asian to European

Fintech firm Qlub has raised $30 million in a funding round aimed at accelerating its global expansion and deepening its technological capabilities. The Dubai-based startup, known for digitising the dining experience, has drawn strong investor interest as it scales operations across Asia, the Middle East, and other international markets. The funding round was co-led by UAE-headquartered Shorooq Partners and Berlin-based Cherry Ventures, marking a cross-border vote of confidence in Qlub’s model. It also drew participation from key regional and global investors

Arada Developments, the Sharjah-based property developer, is preparing to raise up to $500 million via an Islamic bond as it joins a wave of Gulf real estate firms turning to debt markets to fund expansion. The group plans to launch the issuance next week to finance new land purchases and capitalise on a construction surge across the United Arab Emirates. The proposed sukuk issue represents a strategic step for Arada to strengthen its position amid intensified regional economic diversification efforts

Salama has partnered with digital insurance broker Policybazaar. ae to expand access to Life Takaful coverage in the UAE, aiming to bridge protection gaps through a fully Shariah-compliant digital platform. The move brings Salama’s suite of Takaful life insurance products to Policybazaar. ae’s online marketplace, a platform already known for simplifying access to financial services through regulatory-compliant digital tools. This collaboration is being positioned as a strategic leap toward broader financial inclusion and enhanced customer convenience, targeting families across the country

Emirates NBD has arranged AED 3.9 billion in fully underwritten syndicated bonding facilities to support the MAPA‑LIMAK‑CRRC consortium building Dubai’s Metro Blue Line Project, advancing the emirate’s 2040 Urban Master Plan goals for a world‑class public transport network. The bond will cover part of the AED 20.5 billion contract awarded by the Roads and Transport Authority to the three‑way consortium for design and construction of the new metro line. Set to span 30 km with 14 stations, the Blue Line extends across strategic locations including Dubai

Shapoorji Pallonji has inaugurated its maiden international residential project, Imperial Avenue, in Downtown Dubai, solidifying its presence in the competitive global luxury real estate market. The completion of the 45-storey tower, a prominent addition to Dubai’s skyline, signals the formal entry of the 158-year-old construction conglomerate into the high-end overseas property development sector. With the Building Completion Certificate granted by Dubai’s Real Estate Regulatory Authority, the company has commenced homeowner walkthroughs and handovers, marking the transition from development to occupancy. The

DP World has finalised a 30‑year concession worth US $800 million to modernise and operate the port of Tartus on Syria’s Mediterranean coast, as per official statements issued on 13 July 2025. The agreement, inked in Damascus between DP World and Syria’s General Authority for Land and Sea Ports, was witnessed by Syrian President Ahmed al‑Sharaa, along with DP World’s Chairman and Group CEO Sultan Ahmed bin Sulayem and Qutaiba Ahmed Badawi, chairman of the port authority. The deal follows a memorandum of understanding signed in

ADNOC Gas has finalised a supply agreement worth 1.5 billion dirhams with Germany’s SEFE Securing Energy for Europe, signalling a significant push to reinforce the energy partnership between the UAE and European markets. The three-year contract will see ADNOC Gas deliver 0.7 million tonnes of liquefied natural gas, with shipments commencing this year from the Das Island liquefaction facility. The deal forms part of Europe’s broader strategy to diversify energy imports amid an ongoing overhaul of its gas supply framework.

Charles Group has entered a $1 billion strategic partnership with the US-based Patel Family Office to co-develop a digital investment platform targeting real estate and infrastructure assets across the UK, GCC, India and the SAARC region. The memorandum of understanding, signed at the Global Wealth Conference 2025 hosted by the Sovereign Wealth Fund Institute at London’s Mansion House, was finalised in the Egyptian Hall and witnessed by over 40 global asset allocators, including more than 20 sovereign wealth funds representing approximately

On June 19–20, Baku successfully hosted the Baku ID 2025 Innovation Festival. This year’s theme, The Regional Nexus, brought together leading entrepreneurs and technology leaders from the Caucasus, Central Asia, the Middle East, and North Africa, positioning Azerbaijan as the region’s innovation hub. The festival was organized by SABAH.HUB Innovation Center with the support of the Ministry of Science and Education of Azerbaijan, SOCAR, PASHA Holding, and the Center for Analysis and Coordination of the Fourth Industrial Revolution (C4IR). Over the course of two days, Baku ID brought together dozens

Kuwait Investment Authority, the sovereign wealth fund managing over US $1 trillion in assets, has divested a US $3.1 billion stake in Bank of America, according to sources familiar with the unregistered block trade. The shares were sold at US $47.95 each—at the bottom of Goldman Sachs’s marketed range—underscoring a strategic move to liquidate a long-held position. The sale marks a notable shift from the fund’s crisis-era backing of Merrill Lynch. In January 2008, KIA invested US $2 billion in preferred shares of Merrill Lynch, later converting them

Dubai‑based hospitality firm Tashas Group is entering a rapid new phase of expansion across the Middle East and South Africa, with founder Natasha Sideris spearheading a strategy that balances boutique charm with accelerated growth. Operating 40 venues in five countries—including 18 in South Africa, 17 across the UAE, three in Saudi Arabia, and single locations in Bahrain and the UK—the group plans to open a further 15 to 16 restaurants over the next 18 months. Sideris describes a shift from a

Primrose Capital Management has obtained in‑principle approval from the Financial Services Regulatory Authority of Abu Dhabi Global Market, marking the inception of its journey toward a full Financial Services Permission. The clearance paves the way for the Singapore‑based quantitative trading firm to establish a regulated presence in the UAE’s leading international financial centre, offering data‑driven investment products to regional institutional investors and family offices. Approval from the FSRA is a key hurdle for asset managers seeking to operate

Primrose Capital Management has obtained in‑principle approval from the Financial Services Regulatory Authority of Abu Dhabi Global Market, positioning itself for full licencing and regional expansion. The firm plans to recruit portfolio‑engineering and client‑coverage specialists in Abu Dhabi and aims to launch MENA‑domiciled feeder funds in the latter part of 2025. With the Gulf family office sector estimated at approximately $500 billion, Primrose’s data‑driven, machine‑learning strategies in global futures, options and digital-asset derivatives are being tailored to meet growing demand. Its flagship