ABU DHABI / WAM ADQ, an Abu Dhabi-based investment and holding company, has unveiled plans to invest US$35 billion in Egypt. ADQ will acquire the development rights for Ras El-Hekma for $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 $11 billion …

ABU DHABI / WAM The aggregate capital and reserves of banks operating in the UAE increased 13.3 percent, reaching AED481.5 billion by the end of November 2023 compared to AED424.9 billion at the end of the same period of 2022, according to the Central Bank of the UAE’s (CBUAE) statistics. According to the CBUAE monthly report, the aggregate capital and …

ABU DHABI / WAM H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs, discussed during a phone call with Dr. Arnoldo André Tinoco, Minister of Foreign Affairs and Worship of Costa Rica, bilateral ties and new avenues for collaboration, aimed at serving the mutual interests of both nations. During the call, the ministers discussed ways to further enhance …