Category Archives: Business & Investments

Dubai International Chamber facilitates expansion of fiber optics company Emtelle into Indonesia

  • Salem Al Shamsi: “We are committed to encouraging Dubai’s business community to expand internationally through impactful partnerships that enhance opportunities for sustainable growth.”

Dubai, UAE – Dubai International Chamber, one of the three chambers operating under Dubai Chambers, has successfully supported the expansion of Emtelle, a Dubai-based fibre optic solutions company, into Indonesia.

The chamber’s representative office in Jakarta played a key role in facilitating the signing of a Memorandum of Understanding (MoU) between Emtelle and PT Fajar Mitra Krida Abadi, an Indonesian company specialising in digital transformation. The agreement encompasses the adoption of Emtelle’s products and solutions to expand fibre optic network coverage across various regions in Indonesia. The initiative will help to enhance high-speed broadband internet services and strengthen the telecommunications and technology infrastructure across the country.

Continue reading Dubai International Chamber facilitates expansion of fiber optics company Emtelle into Indonesia

GE Vernova and Saudi Electricity Company complete first Saudi-led gas turbine maintenance project

  • GE Vernova’s Saudi engineers and specialistslead the firstgas turbine outage at SEC’s 8th power plant in Riyadh
  • Complex task requires skilled personnel with extensive training and practical experience, includingspecial certifications and accreditation
  • Strategic collaborationsupports Vision 2030 and local talent development

Riyadh, SAUDI ARABIA(March 24,2025) -GE Vernova, Inc. (NYSE: GEV) and Saudi Electricity Company (SEC) have announced the successful completion of the first gas turbine outage entirely planned and executed by GE Vernova’s Saudi engineers and specialists. This project at SEC’s 8thpower plant in Riyadh highlights both companies’ commitment to fostering local talent and promoting localization within Saudi Arabia’s energy sector, in alignment with Saudi Vision 2030.

Continue reading GE Vernova and Saudi Electricity Company complete first Saudi-led gas turbine maintenance project

Al Seer Marine and Damen International Joint Venture Secure AED 1.3 Billion Contract with Tawazun Council to Build Naval Vessels

  • A strategic alliance between Al Seer Marine – Damen International Joint Venture, and Tawazun Council to bolster the UAE’s naval capabilities.
  • Delivering state-of-the-art Offshore Patrol Vessels (OPVs) to enhance the UAE’s maritime security and defense.

Abu Dhabi, 24 March 2025: Al Seer Marine (ADX: ASM), a frontrunner in the maritime industry and a subsidiary of International Holding Company (ADX: IHC) and Damen International, an Abu Dhabi company, part of the Damen family which is known from the renowned global shipbuilding company Damen Shipyards Group announce that their Joint Venture has secured a significant AED 1.3 billion contract with Tawazun Council to manufacture advanced Offshore Patrol Vessels (OPVs). This four-year project will bolster the UAE’s naval capabilities and enhance maritime security.

Continue reading Al Seer Marine and Damen International Joint Venture Secure AED 1.3 Billion Contract with Tawazun Council to Build Naval Vessels

Emirates Islamic successfully issues USD 750 million 5 Year Senior Unsecured Sukuk

Dubai, 21March 2025: Emirates Islamic, one of the leading Islamic financial institutions in the UAE,has successfully issued a USD 750 million Senior Unsecured Sukuk on 18th March 2025. This latest landmark issue supports the Bank’s strategic growth journey as well as continued progress of the Islamic finance industry.

The Sukuk attracted a very strong order book in excess of USD 1.6 billion, resulting in a 2.1 times oversubscription rate. The strong investor demand allowed the Bank to tighten the spread by 30 basis points from initial price thoughts, to 95 basis points over 5-Year US Treasuries, equating to a coupon of 5.059% per annum. 

Continue reading Emirates Islamic successfully issues USD 750 million 5 Year Senior Unsecured Sukuk

AIM Congress 2025 Showcases the Future of Mobility within the Future Cities Portfolio with PAL-V, the World’s First FlyDrive Vehicle

Abu Dhabi, UAE, 21 March 2025: AIM Congress 2025, in its 14th edition, will highlight the latest global innovations in the mobility sector under the Future Cities Portfolio, bringing together industry leaders, investors, and policymakers to explore the future of advanced transportation.

Among this year’s most prominent participants is PAL-V, showcasing the PAL-V Liberty, the world’s first FlyDrive vehicle. This revolutionary vehicle combines the convenience of traditional driving with the freedom of flying, presenting a practical vision for the future of mobility.

Continue reading AIM Congress 2025 Showcases the Future of Mobility within the Future Cities Portfolio with PAL-V, the World’s First FlyDrive Vehicle