Category Archives: Business & Investments

Business & Investments

ADQ-led consortium to invest USD 35 billion in Egypt

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ADQ-led consortium to invest USD 35 billion in Egypt

  • ADQ to acquire Ras El-Hekma development rights for USD 24 billion
  • Egyptian government to retain a 35 percent stake in Ras El-Hekma development
  • ADQ to invest USD 11 billion in real estate and other prime projects in Egypt in addition to the development rights for Ras El-Hekma
  • Ras El-Hekma development is expected to attract over USD 150 billion in investments
  • Work is expected to commence in early 2025

Abu Dhabi, UAE – 23 February 2024:   ADQ, an Abu Dhabi-based investment and holding company, has unveiled plans to invest USD 35 billion in Egypt. ADQ will acquire the development rights for Ras El-Hekma for USD 24 billion to develop the region into one of the largest new city developments by a private consortium. As part of this investment, ADQ will also convert USD 11 billion of deposits that will be utilized for investment in prime projects across Egypt to support its economic growth and development.

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Business & Investments

Ma Hawa highlights sustainable hydration solutions at Gulfood 2024

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Ma Hawa highlights sustainable hydration solutions at Gulfood 2024

Abu Dhabi, United Arab Emirates; 23 February 2024

Ma Hawa, an Emirati brand owned by Baynunah Watergeneration Technologies SP LLC, is participated in Gulfood 2024, showcasing its pioneering water-from-air technology at the world’s largest food and beverage trade exhibition. Ma Hawa showcased its groundbreaking solutions, offering visitors a window into the future of hydration.

Ma Hawa’s revolutionary technology extracts pure drinking water directly from the air, providing an endless, eco-friendly, and resilient source of hydration. Visitors to the event witnessed live demonstrations as humidity transforms into refreshing water of the highest quality while understanding food and water security and innovation in this sector.

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Business & Investments

Startups to be recognized and awarded for innovation and Sustainability

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Startups to be recognized and awarded for innovation and Sustainability.

  • VerdExim Sustainability Awards on Feb 26 in Dubai to celebrate startups that drive a positive change
  • The Award aims to inspire, support, and amplify the efforts of startups shaping a sustainable future
  • “Empower future leaders in green innovation,” Salah Al Nasser, Chairman, CEO, Exim Finance

Dubai, February 22:

Startups from around the world that drive innovation in sustainability and bring positive change in the world will be recognized and celebrated through the VerdExim Sustainability Awards in Dubai on Feb 26.

The VerdExim Sustainability Awards, instituted by Exim Finance, a Dubai-based finance facilitation company, will be presented at a glittering ceremony in Intercontinental Hotel, Dubai, on February 26, in the presence of numerous distinguished VIPs and Ambassadors representing a multitude of nations.

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Business & Investments

Hitachi Energy invests over 30 million euros to expand transformer operations in Germany

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Hitachi Energy invests over 30 million euros to expand transformer operations in Germany

  • The expansion and modernization of the power transformer manufacturing facility in Bad Honnef will generate up to 100 new jobs in the region.
  • Set for completion in 2026, the investment expands the company’s global footprint and capacity at speed, addressing the accelerating demand for transformers to meet Europe’s energy transition.

Dubai, February 22, 2024 – Hitachi Energy today announced an investment of more than 30 million euros (approx. $32 million) in the expansion and modernization of its power transformer manufacturing facility in Bad Honnef, Germany. Expected to be completed in 2026, the project will generate up to 100 new jobs in the region and address the rising demand for transformers to support Europe’s clean energy transition.

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Business & Investments

UAE to host the prestigious FIATA-RAME Field Meeting & Conference

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UAE to host the prestigious FIATA-RAME Field Meeting & Conference, shaping the future of logistics in the MEA region

  • Hosted by the National Association of Freight and Logistics (NAFL) under the patronage of H.H.  Sheikh Ahmed bin Saeed Al Maktoum, the conference will discuss current challenges, trends, and future strategies for charting a sustainable path forward
  • The global logistics sector to reach USD 16.36 trillion by 2027

Dubai, United Arab Emirates; 21 February 2024:

The UAE National Association of Freight and Logistics (NAFL) has announced the 2024 FIATA RAME (Region Africa and Middle East) Field Meeting and conference dates. Held under the esteemed patronage of His Highness Sheikh Ahmed bin Saeed Al Maktoum- Honorary patron of NAFL, the two-day event, scheduled for March 5th and 6th, 2024, in Dubai, will bring together leading industry experts, policymakers, and stakeholders to discuss critical trends and strategies shaping the future of logistics in the MEA region. It will also highlight the growth opportunities in the industry and the economy in the region.

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