Monthly Archives: September 2024

Business & Investments

NMDC Group’s IPO of NMDC Energy closes 31.3 times oversubscribed, generating total gross demand of AED 88 billion

  • Retail tranche oversubscribed 600 times, Professional tranche 16.7 times
  • ADX trading due to commence on Wednesday, 11 September 2024

Abu Dhabi, UAE: 5 September 2024 – NMDC Group, a leader in engineering, procurement, construction, and marine dredging, today announces the successful closing of the Initial Public Offering (“IPO” or “Offering”) of NMDC Energy, which was oversubscribed by 31.3 excluding cornerstone. The offering attracted exceptional investor interest, generating total gross demand of AED 88 billion.

The offering of 1.15 billion shares in NMDC Energy, representing 23% of the total share capital, was made available to eligible investors at AED 2.8 per share. The IPO saw outstanding demand across all segments, becoming oversubscribed within hours of its launch on 30 August 2024. At the close of the subscription period, the Retail tranche was oversubscribed 600 times, and the Professional tranche by 16.7 times. The offering will generate AED 3.22 billion for NMDC Group.

Continue reading NMDC Group’s IPO of NMDC Energy closes 31.3 times oversubscribed, generating total gross demand of AED 88 billion →
Technologies

HONOR Unfolds a Future with HONOR Magic V3 at IFA 2024

HONOR Unfolds a Future with Possibilities with the Record-breaking HONOR Magic V3 at IFA 2024

UAE consumers get their hands on the world’s thinnest and lightest AI foldable smartphone – the HONOR Magic V3, and the new HONOR MagicPad 2 on the very same day as its global debut.

[BERLIN, Germany – September 6, 2024] – Global technology brand HONOR today announced its groundbreaking AI-enabled hardware capabilities and a collaborative AI privacy protection architecture, showcasing its commitment to innovative empowerment in an AI-driven world, at IFA 2024. The event also saw the debut of HONOR’s latest AI-empowered flagship devices, including the HONOR Magic V3, the world’s slimmest inward foldable smartphone, as well as the sleek and artistic laptop HONOR MagicBook Art 14, and the cutting-edge innovative digital canvas HONOR MagicPad 2, and a stylish health tracker HONOR Watch 5.

“AI is fundamentally reshaping our industry, enriching and creating new experiences that improves creativity and productivity for consumers all around the world, every day,” said George Zhao, CEO of HONOR. “Our role as a smart device provider gives us incredible access to consumers. Combined with our expertise in devices, it informs our AI roadmap, allowing us to create personal, intuitive, and more secure AI experiences that best meet their needs. Through all our new flagship devices, we hope to deliver human-centric AI experiences that consumers will find truly magical.”

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Shopping & Promotions

Union Coop Announces Price Reductions on 600 Products 

Dubai, UAE:

Dr. Suhail Al Bastaki, Chief Community Relations Officer at Union Coop, has announced that the cooperative will launch 8 promotional campaigns throughout September, offering discounts of up to 70%. This initiative also includes the continuation of ongoing campaigns with reduced and fixed prices across a wide range of selected products, both food and non-food items.

Dr. Al Bastaki highlighted that the cooperative began its September promotions from the very first day of the month. These campaigns involve price reductions on 600 popular consumer products, aligning with Union Coop’s strategic goals and its ongoing commitment to community initiatives aimed at enhancing shopper satisfaction by providing high-quality products at competitive prices.

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Education

GESS Dubai 2024 to Spotlight EdTech as GCC International Schools Ramp Up Investment in AR and AI Technologies

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  • Other resources schools are focusing on in the coming years include infrastructure and maintenance, digital and remote learning tools, and textbooks and educational schemes.
  • International schools are also actively integrating wellbeing strategies into their curricula and school culture.

September 2024, Dubai UAE: The Global Educational Supplies and Solutions (GESS) Dubai, organised by Informa Connect, returns for its highly anticipated 17th edition from November 12 to 14, 2024, at the Dubai World Trade Centre, Sheikh Saeed Halls 1 to 3. This year, the focus is on the rapid adoption of EdTech, particularly augmented reality (AR) and artificial intelligence (AI) technologies, as international schools in the GCC region increasingly allocate their budgets toward these innovative solutions. With the GCC EdTech market projected to grow at a compound annual growth rate (CAGR) of 8.12% from 2024 to 2030, governments across the region are emphasizing education and technology as central pillars in their economic transformation and national development strategies.

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Food & Dining

Sumo Sushi & Bento reveals exciting new flavours and exclusive offers this September.

Dubai, UAE: Sumo Sushi & Bento continues to delight its loyal customers with a fresh array of innovative dishes this September, bringing unique flavours and exciting offers to its diners across the UAE. From delectable sushi rolls to indulgent donburi and refreshing beverages, September promises to be a feast for the senses.

This month’s highlights include the Salmon Shamrock and the Wagyu Beef Donburi, two new offerings that showcase Sumo’s commitment to combining fresh ingredients with bold flavours. The Salmon Shamrock is a sushi lover’s dream, with layers of seared salmon, creamy cheese, green tobiko, and spicy mayo, all wrapped in sushi rice and nori, creating a delightful balance of textures and flavours.

Continue reading Sumo Sushi & Bento reveals exciting new flavours and exclusive offers this September. →