Category Archives: Business & Investments

Business & Investments

UAE retail investors choose AI over Big Tech; Pharma loses momentum: Q2 Top Stocks

  • NVIDIA, AMD, and Intel are some of the most-held stocks among UAE eToro users
  • Big Tech names such as Snapchat, Adobe, Netflix, and Apple see decline in investor interest
  • Pharma stocks also experience downturn as the pandemic recedes into the past

Monday, 15thJuly 2024: UAE retail investors continue to rally behind AI while Big Tech and pharma stocks lose momentum, finds the latest quarterly stocks data from trading and investing platform eToro.

eToro looked at which companies saw the biggest proportionate change in holders, quarter-on-quarter on its platform (table 1), while also looking at the 10 most held stocks (table 2) in the UAE.

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Business & Investments

44.01 completes $37m Series A investment round

  • $37m fundraise will enable technology development,commercialisation and international expansion
  • Investors include climate investment leaders,geologicalcarbon storageexperts and technology developers
  • 44.01’s technology already piloted in Oman and the UAE
  • Potential for CO2 mineralisation on every continent making 44.01’s technology a safe, permanent, and scalable carbon sequestration solution

15July 2024: 44.01 announces the completion of a $37m Series A funding round. The round isled by Equinor Ventureswith Shorooq Partners in the UAE, as well as (in alphabetical order)Air Liquide Venture Capital (ALIAD), AlumniVentures, Amazon’s Climate Pledge Fund, Climate Investment, Innovation Development Oman,Planet A Ventures, Salica Oryx Fund,Siemens Financial Services, Sumitomo Corporation andseveral otherinvestors. Existing investors including Breakthrough Energy Ventures have also recommitted to 44.01’s technology by participating in the round.

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Business & Investments

Reem Finance PJSC Partners with Appro Onboarding Solutions FZ LLC to Enhance Customer Onboarding Experience

Abu Dhabi, UAE –15 July, 2024

Reem Finance PJSC has signed an agreement with Appro Onboarding Solutions FZ LLC to implement Appro’s state-of-the-art onboarding journey as a Software as a Service (SaaS).

The collaboration aims to revolutionize the customer onboarding process, ensuring a seamless, efficient, and secure experience for Reem Finance’s clients.

Held at Reem Finance’s headquarters in Abu Dhabi, the agreement marks a significant milestone in the company’s digital transformation journey.

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Business & Investments

Malaysia Showcases Agricultural Prowess in Dubai with MAHA 2024 Business Networking Event

Centennial Celebration of MAHA promotes Innovation, Sustainability, and Global Networking Opportunities in Agriculture and Agro-tourism.

DUBAI, 13 July 2024 –The Ministry of Agriculture and Food Security Malaysia is intensifying its promotional efforts across the Middle Eastern region. In a bid to highlight Malaysia’s agricultural and food industries, the Malaysian Agriculture Counselor Office in Dubai organised a high-profile business networking event at the prestigious Raffles Hotel Dubai.

This event aimed to showcase the nation’s agricultural prowess and promote the Ministry’s flagship event, Malaysia Agriculture, Horticulture and Agro-tourism (MAHA) 2024, scheduled from 11 to 23 September 2024.Established in 1923, MAHA has evolved into Southeast Asia’s premier agricultural exhibition, a testament to Malaysia’s rich farming heritage. Celebrating a century of innovation and resilience, MAHA promotes sustainable practices and bridges urban-rural gaps.

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Business & Investments

RWE and Masdar’s 3-gigawatt Dogger Bank South Offshore Wind Farms Reach Key Development Milestone

  • Dogger Bank South Offshore Wind Farms to be considered by UK Planning Inspectorate
  • Projects expected to support up to 2,380 UK jobs during development and construction
  • The 3gigawatt wind farms could provide electricity for up to three million UK homes

Abu Dhabi, UAE – July10, 2024: RWE and Masdar have achieved a key milestone for the DBS (Dogger Bank South) Offshore Wind Farms as the Development Consent Order (DCO) application has been accepted into the UK Planning Inspectorate examination phase.

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