Category Archives: Business & Investments

Business & Investments, Real Estate

ALEC Wins $1.7B Contract for Sphere Abu Dhabi

DCT Abu Dhabi awards US$1.7 billion construction contract to ALEC for Sphere Abu Dhabi

Publicly listed UAE contractor ALEC Engineering and Contracting will deliver globally iconic immersive entertainment venue with construction set for completion by 2029

Abu Dhabi, United Arab Emirates – 23 May 2026 – ALEC Engineering and Contracting (ALEC) has received a Letter of Award (LOA) from the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) to build Sphere Abu Dhabi. According to the LOA, valued at US$1.7billion, this will represent a significant expansion of ALEC’s portfolio in transformational infrastructure and reinforce the company’s position as the preferred delivery partner for Abu Dhabi’s most prestigious asset-building initiatives.

The original Sphere in Las Vegas has been reported by the Wall Street Journal as being the highest-grossing arena in the world, drawing US$379million on 1.7 million tickets sold last year. Sphere Abu Dhabi is being positioned to serve as a comparable global destination, unlocking substantial tourism revenue and helping to increase international visitation while positioning Abu Dhabi as a global centre for next-generation immersive entertainment experiences.

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Business & Investments

Grand Inauguration of Ain Gold & Diamonds LLC. in Dubai Gold District

Ain Gold & Diamonds LLC. officially inaugurated its new branch on 22 May 2026 at the prestigious Dubai Gold District, near the Gold Souq Metro Station. Very famous philanthropist & businessman from UAE,
The new showroom is located at:
Ain Gold & Diamonds LLC.
Shop 4, Shamma 3, Dubai Gold District, Near Gold Souq Metro Station, Dubai, UAE.

The new venture is an associate initiative of Ain Gold Wallet, a platform that has already created a strong impact in the gold saving sector through its innovative and customer-friendly approach. The platform allows customers to start saving in gold from as little as 1 Dirham onwards, making gold saving accessible to a wider community.

Designed with a modern customer experience in mind, the new showroom offers a wide collection of quality gold jewellery, saving products, and personalized customer services aimed at meeting the evolving preferences of both residents and international visitors in Dubai’s thriving gold market.

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Business & Investments

Enhancing Trade and Maritime Ties Between UAE and Kuwait

Abdulla Bin Damithan and Kuwaiti Consul General  DiscussEnhancingTrade and Maritime Cooperation

His Excellency Abdulla Bin Damithan, Chairman of the Ports, Customs and Free Zone Corporation (PCFC), received his Excellency Khaled Abdulrahim Al-Zaabi, Consul General of the State of Kuwait in Dubai and the Northern Emirates, at the Corporation’s headquarters in Dubai.

During the meeting, both sides discussed ways to strengthen bilateral cooperation and partnership in areas related to maritime transport, trade exchange,customsand other topics of mutual interest. Bin Damithan highlighted the Corporation’s strategic initiatives and projects aimed at enhancing supply chain continuity, facilitating the smooth flow of trade. He also emphasizedPCFC’s role in supporting the business community amid ongoing geopolitical developments around the world.

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Business & Investments

AD Ports Group Elevates Digital Backbone with e& Partnership

AD Ports Group and e& Deliver AI-Ready Terrestrial Digital Backbone Across Logistics Infrastructure

•    New initiative brings high-capacity, real-time operational synchronicity across AD PortsGroup’s infrastructure, advancing the Group’s digital transformation plan

•    Integration of terrestrial, wireless, and satellite communications network strengthensthe Group’s digital connectivity

Abu Dhabi, UAE – 21May 2026:AD Ports Group (ADX: ADPORTS), a leading global enabler of trade, industry, and logistics solutions, and e& UAEtoday announced the successful deployment ofan AI-ready high-capacity terrestrial connection, linkingmajor maritime and logistics assets across the Group’s portfolio.

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Business & Investments

UAE’s AED 110M DDSC Transaction Fuels Digital Finance

IHC Executes Landmark AED 110 Million DDSC Transaction on ADI Chain, Advancing Institutional Adoption of UAE Digital Infrastructure

•    One of the largest single stablecoin transactions executed in the region, with AED 110 million (USD 30 million) transferred on ADI Chain

  • Demonstrates live institutional-scale capability and validates the scalability, resilience and operational readiness of the DDSC ecosystem
  • Reinforces the UAE’s position as a global hub for regulated digital asset infrastructure and next-generation financial innovation

Abu Dhabi, UAE – 21 May 2026:IHC, a global investment company focused on building dynamic value networks, today announced the successful execution of an AED 110 million (approximately USD 30 million) transaction using DDSC on ADI Chain, the institutional Layer-2 blockchain developed by ADI Foundation.Following the recent approval received from the Central Bank of the UAE for the launch of DDSC, the transaction represents a defining milestone for the DDSC stablecoin ecosystem, demonstrating operational readiness, scalability, and real-world applicability at institutional volume.

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