News

  DUBAI / WAM Shuaa Capital, asset management and investment banking platform in the region, on Wednesday announced the successful pricing of the initial public offering (IPO) of 10,000,000 units of Shuaa Partners Acquisition Corp I at $10.00 per unit. The $100 million Special Purpose Acquisition Company (Spac) will be listed on NASDAQ Global Market (Nasdaq) and will start trading ...

  DUBAI / WAM FedEx Express, a subsidiary of FedEx Corp and the world’s largest express transportation company, broke ground on Wednesday on its new regional air and ground hub for the Middle East, Indian Subcontinent and Africa (MEISA) region at Dubai South Logistics District. The ceremony was attended by executives from Dubai South and FedEx Express. With a completion ...

  SHARJAH / WAM Arada has announced the award of two contracts together valued at AED118 million at Masaar, the AED8 billion forested megaproject located in the Suyoh district of Sharjah. Both contracts will develop the infrastructure and landscape for two areas of Masaar; the central precinct around the Masaar Experience Centre, which will host several visitor attractions, and the ...

  DUBAI / WAM Today, the world is witnessing an increasing demand to invest in clean and renewable energy sources, which will change the global energy scene in the next few years using environmentally friendly and relatively low-cost energy sources. In line with this global trend, green hydrogen for power generation and supporting development in several vital sectors is increasing. ...

ABU DHABI / WAM The United Arab Emirates has announced $5 million in humanitarian assistance to benefit civilians impacted by the situation in Ukraine. The contribution is made to the United Nations’ Humanitarian Flash Appeal and the Regional Refugee Response Plan for Ukraine and is a reflection of the UAE’s emphasis on humanitarian solidarity in conflict settings. The UAE has ...

ABU DHABI / WAM HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister, Minister of Presidential Affairs, and Chairman of the Board of Directors of the Central Bank of the UAE (CBUAE), chaired the meeting of the board, held on Wednesday in Qasr Al Watan. Sheikh Mansour welcomed the meeting’s participants and thanked the Central Bank of the UAE ...

ABU DHABI / WAM Abu Dhabi Global Market (ADGM), the leading international financial centre, on Wednesday hosted a delegation of high-profile business leaders from Israel, as the two countries continue to explore bilateral growth and investments opportunities. The forum was hosted as part of Abu Dhabi’s long-term economic commitment to attract and retain new businesses and investors to its hub, ...

  ABU DHABI / WAM Al Yah Satellite Communications Company, the UAE’s flagship satellite solutions provider, has announced its financial results for the 12 months period ended on December 31, 2021. It reported revenues of AED452.7 million [$123.3 million], exceeding the prior year by 7.9 percent, leading to full-year revenue of just under AED1.50 billion [$408 million], marginally up year-on-year. ...

  Bloomberg Roman Abramovich is selling his London properties, according to British MP Chris Bryant, and a Swiss billionaire said he’s been approached about buying Chelsea Football Club. “He’s terrified of being sanctioned, which is why he’s already going to sell his home tomorrow and sell another flat as well,” Bryant, a member of Britain’s opposition Labour Party, said in ...

Bloomberg Nord Stream 2 AG, operator of the controversial gas pipeline under the Baltic Sea to Germany, said it can’t confirm published reports that it has filed for bankruptcy amid a raft of international sanctions against Russian assets. “We cannot confirm the media reports,” it said in a statement. Switzerland-based Nord Stream 2 AG “only informed the local authorities that ...