Category Archives: Business & Investments

Business & Investments

BNI TERRA Sets New Global Benchmark as First Net Zero Chapter in BNI Network,

Celebrates BNI UAE’s Milestone of 1,300 Members

Dubai, UAE – 1st Aug – BNI (Business Network International), the world’s largest networking and referral organization, announces a significant milestone with the introduction of BNI TERRA, the first-ever Net Zero Chapter within its global network. This initiative underscores BNI’s commitment to innovation and tradition.

BNI TERRA, has taken proactive measures to reduce its carbon footprint and lead by example in the business networking community. Recognizing the urgent need for sustainable practices, BNI TERRA has adopted a hybrid meeting model. Physical meetings are held once a month at the LEED-certified Rove Hotels in Expo City Dubai, renowned for its sustainable practices and for the rest of the month the team meets online. In addition to this, the group will proactively organise activities that will ensure the emissions are offset.

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Business & Investments

EWEC Receives Four Proposals for the Development of Saadiyat Island RO Desalination Project

Equipped with cutting-edge low-carbon-intensivereverse osmosistechnology, the Saadiyat Island RO plant will be the seventh reverse osmosis water desalination project in EWEC’s portfolio

20240730_EWEC_Sadiyat Island RO Bid Opening_Backdrop_V3

Abu Dhabi, UAE – 30July2024:EWEC (Emirates Water and Electricity Company), a leading company in the integrated planning, purchasing and supply of water and electricity across the UAE,has announced that it has received four proposals fromAcciona Agua, Engie, GS Inima Environmental and a consortium comprised of FCC Aqualia and OrascomConstruction Industriesfor the development of the Saadiyat Island Reverse Osmosis (RO) Independent Water Project (IWP).

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Business & Investments

Modon Holding PSC Achieves Record Half-Yearly Results After Landmark Acquisition

Abu Dhabi, UAE; 30 July 2024: Modon Holding PSC, formerly Q Holding, has reported exceptional financial performance for the first half of 2024 post its acquisition of Modon Properties and ADNEC.

Modon Holding delivered a revenue of AED 2.2 billion, a year-on-year increase of 333%, and a gross profit of AED 833.2 million, a year-on-year increase of 277%. Modon Holding achieved a net profit of AED 8.74 billion including the provisional bargain purchase gain from the acquisition of Modon Properties and ADNEC. This landmark transaction marks one of the largest acquisitions in the country’s history and sets the stage for Modon Holding’s future of becoming a leading player in the real estate arena.

H.E. Jassem Mohammed Bu Ataba Al Zaabi

Chairman, Modon Holding

Leveraging the expanded scale and range of our business, Modon Holding’s first six months performance begins to show the value proposition of the recent merger. Our focus on building smart cities will further increase liveability and foster vibrant communities in Abu Dhabi and internationally.

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Business & Investments

ETEA and Tripoli Chamber of Commerce Sign Agreement to Empower Lebanese Youth

ETEA and Tripoli Chamber of Commerce Sign Agreement to Empower Lebanese Youth

Dubai, UAE, Tripoli, Lebanon – 31 July 2024, Education Training & Employment Australia (ETEA), a leading vocational and education organization in Australia, has signed a memorandum of understanding (MoU) with the Chamber of Commerce, Industry & Agriculture of Tripoli & North Lebanon. This agreement, currently in the making, marks a significant milestone in ETEA’s mission to expand its global footprint and support the professional development of Lebanese youth.

The collaboration holds immense importance for the Lebanese youth and society, as it provides access to high-quality vocational training and educational programs accredited in Australia. These programs will offer students the opportunity to earn certificates and diplomas recognized not only in Australia but also in Commonwealth countries, significantly enhancing their job prospects and contributing to societal advancement.

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Business & Investments

Mashreq and MultiBank Group join forces to transform payments with instant payment API Integration

Dubai, UAE, 31 July, 2024: MultiBank Group, a leading online financial derivatives provider, has partnered with Mashreq, one of the leading financial institutions in the MENA region, to introduce an API-enabled Instant Payments solution for corporate clients. This innovative collaboration fully integrates with the Central Bank of UAE’s Aani (Instant Payment Platform), offering significant advantages to both MultiBank Group and Mashreq.

Mashreq is at the forefront of adopting real-time payment APIs, facilitating thousands of daily low-value transactions for corporates. The Instant Payment API allows Multi-Bank Group to conduct domestic fund transfers, account-to-account transfers, and bulk payments in real-time, 24/7/365, without any cut-off times, enhancing payment efficiencies.

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