DUBAI / AGENCIES 500 Startups, a Silicon Valley venture fund with a track record of investing in young companies, said on Tuesday Abu Dhabi Financial Group (ADFG) had acquired a strategic stake in the firm. Through this investment, ADFG will hold a strategic stake and will be injecting substantial capital to accelerate the growth of 500’s key initiatives, expand into ...

DUBAI / Reuters Investment Corporation of Dubai (ICD), the Dubai government’s main investment arm, has raised a $1.2 billion loan needed to refinance existing debt, banking sources said. The loan was led by Citi, Dubai Islamic Bank, Emirates NBD, HSBC, ICBC and Standard Chartered. The Dubai sovereign wealth fund, whose portfolio includes stakes in companies such as Emirates Airline and ...

ABU DHABI / WAM Emirates Global Aluminium (EGA) and Abu Dhabi Ports have launched a facility that will reduce trucking of EGA’s aluminium within the Khalifa Industrial Zone Abu Dhabi (KIZAD) by over 290,000 kilometres per year, reducing costs and environmental emissions. The new container freight station will be used to load metal into containers for transfer onto ships for ...