Finances

UAE-based ADNOC Drilling plans to invest over $1 billion

ADNOC Drilling plans to invest over $1 billion, expand in Oman and Kuwait, and boost offshore, onshore, and oilfield services as part of its growth strategy.

Gulf markets fall on US tariff concerns

Feb 18, 2025

Major Gulf stock markets fell as uncertainty over US President Trump’s tariff policies unsettled investors, impacting key indexes in Dubai, Abu Dhabi, and Qatar.

Abu Dhabi boosts minerals with $1.2 billion investment

Jan 30, 2025

ADQ and Orion Resource Partners launch a $1.2 billion mining investment firm to secure critical minerals, focusing on Africa, Asia, and Latin America.

Abu Dhabi’s M42 ready to work with US and Chinese tech

Jan 29, 2025

M42, Abu Dhabi’s AI-driven healthcare firm, focuses on US partnerships while remaining open to global tech, as it expands AI and genomics initiatives.

Abu Dhabi’s Eagle Hills plans $6 Billion Georgia projects

Jan 27, 2025

Eagle Hills plans large-scale developments in Tbilisi, Batumi, and Gonio, boosting Georgia’s economy with new housing, retail, and commercial spaces.

Abu Dhabi’s MGX funds Trump’s $100 Billion AI Plan

Jan 23, 2025

UAE’s MGX, led by Sheikh Tahnoun, joins OpenAI, SoftBank, and Oracle in Trump’s AI plan, reinforcing Abu Dhabi’s push for global artificial intelligence dominance.

Oracle to fivefold increase investment in Abu Dhabi on AI

Jan 22, 2025

Oracle plans a fivefold increase in investment in Abu Dhabi to meet rising AI and cloud demand, as global tech firms expand their presence in the Middle East.

Abu Dhabi’s ADQ plans to launch takeover bid for Aramex

Jan 13, 2025

ADQ’s Q Logistics Holding plans to acquire full control of Aramex with a $1.2 billion offer, aiming to strengthen its logistics portfolio amid strategic transformation plans.

Two Hong Kong hedge funds expand Dubai operations

Jan 9, 2025

Welwing Capital and Jetha Global join global asset managers expanding in Dubai, leveraging the UAE’s tax benefits and rising status as a key financial center.

First Abu Dhabi to sell bad loans to Deutsche Bank

Malakai Rashid - Jan 8, 2025

Deutsche Bank is set to acquire First Abu Dhabi Bank’s $800 million nonperforming loan portfolio, marking a rare major distressed debt deal in the Gulf region.

UAE VC funding falls as investors shift

Malakai Rashid - Jan 8, 2025

VC funding in the UAE dropped 8% to $613 million in 2024, reflecting a regional trend of fewer late-stage investments and increased focus on early-stage startups.

UAE non-oil business activity growth picks up in December 2024

Malakai Rashid - Jan 7, 2025

The UAE’s non-oil private sector expanded at its fastest pace in nine months, with rising demand and business activity driving a PMI increase to 55.4.

OPEC oil output falls in UAE in December

Malakai Rashid - Jan 7, 2025

OPEC oil production fell by 50,000 barrels per day in December, driven by a sharp decline in UAE output due to field maintenance, while Iran also saw reduced production despite gains in Nigeria and Libya.

UAE and Pakistan to boost cooperation in various economic sectors

Malakai Rashid - Jan 6, 2025

UAE and Pakistan pledge to expand cooperation in trade, energy, infrastructure, and agriculture, reinforcing economic ties amid Pakistan’s efforts to attract foreign investment.

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