Daily Archives: October 30, 2024

Business & Investments

Global ministers, energy leaders and tech pioneers to convene at ADIPEC 2024

  • COP28 President and ADNOC GCEO H.E. Dr Sultan Ahmed Al Jaber to deliver keynote address
  • From 4-7 November, more than 1,800 speakers from across government, energy, finance and technology sectors will unite to find tangible solutions to the most urgent global energy challenges
  • Exploring the AI-energy nexus will be a key focus of ADIPEC 2024

Abu Dhabi, UAE – 29 October 2024: Over 40 ministers and more than 200 C-suite executives and technology pioneers from across the Middle East, Asia, Africa, Europe and the Americas will convene in Abu Dhabi for ADIPEC 2024 to foster collaborative action innovation and partnerships to accelerate the energy transition.

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Business & Investments

Mashreq’s 9M 2024 Profit Before Tax Rises 9% YoY to AED 6.5 Billion

Mashreq’s 9M 2024 Profit Before Tax Rises 9% YoY to AED 6.5 Billion, reflecting strong business activity in a healthy business environment

·       Increased operational activities drives revenue growth: Net Interest Income (NII) increased by 13% year-on-year, propelled by sizable balance sheet expansion and sustained healthy client margins. This growth underscores our effective asset-liability management and strategic focus on core lending activities. In addition, non-interest income surged by 21% compared to the previous year, now comprising 30% of the total operating income. This significant contribution reflects our success in diversifying revenue streams through enhanced fee-based services and other non- interest-generating activities.

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Real Estate

Abu Ghazaleh Investments and Palace Group Unveil Plans For The Cliffs

Abu Ghazaleh Investments and Palace Group Unveil Plans For The Cliffs, A $1.1 Billion Ultra-Luxury Residential Development in Dubai

Acclaimed Architects Kohn Pedersen Fox Appointed to Design Landmark Development Along the Dubai Water Canal

Dubai, United Arab Emirates (30 October 2024) – AGI Palace Group, the joint venture formed by Abu Ghazaleh Investments (AGI), the Dubai-based family-owned investment company, and ultra-prime developer Palace Group, have named New York-based architects Kohn Pedersen Fox (KPF) to lead the design of its inaugural joint venture project along the Dubai Water Canal – The Cliffs.

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