Bloomberg Abu Dhabi Investment Authority (ADIA), one of the world’s largest sovereign wealth funds, plans to buy out Vornado Realty Trust’s 25 percent stake in the midtown Manhattan office tower at 330 Madison Ave, according to a person familiar with matter. The deal would give the Abu Dhabi fund, already the building’s majority holder, full ownership. Vornado said it agreed ...

ABU DHABI / WAM Aldar Properties on Wednesday launched Alreeman II, an AED1.7 billion master-planned residential community in the Alshamkha area of Abu Dhabi, available exclusively for purchase by UAE nationals. Alreeman II follows the success of Alreeman, launched in January 2019 which generated as much as AED1.6 billion in sales. Spread across an area of 2.4 million square metres, ...

ABU DHABI / WAM Hub71, a global tech hub driven by Mubadala Investment Company in collaboration with Microsoft, SoftBank Vision Fund and Abu Dhabi Global Market, has announced a new partnership with MIT Enterprise Forum Pan Arab, part of a global network of chapters dedicated to promoting and enriching the entrepreneurship ecosystem in the Arab region. With the joint mission ...

Sharjah / Emirates Business The Big Heart Foundation (TBHF) signed an agreement with Nadia’s Initiative, founded by Nadia Murad, co-recipient of this year’s Nobel Peace Prize, to support the Initiative’s global advocacy efforts to rebuild Sinjar and enable the safe return of internally displaced Yazidis back to their homes. The UAE-based global humanitarian charity has pledged a $216,000 financial grant ...

DUBAI / WAM In his capacity as Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, issued a new Employment Law for the Dubai International Financial Centre (DIFC). The newly-enacted Law No. 02 of 2019 compliments the DIFC’s commitment to international best practice, addressing key issues such as paternity leave, ...

ABU DHABI / WAM A high-profile delegation from the Abu Dhabi Department of Energy (DoE), led by the DoE’s Chairman Awaidha Murshed Al Marar, is visiting the Australian state of Victoria this week to expand cooperation and reinforce strategic partnerships in energy between Abu Dhabi and other countries of the world. The visit will see the delegation meet with officials ...

RAS AL KHAIMAH / Emirates Business Ras Al Khaimah Tourism Development Authority (RAKTDA) has further strengthened its position in Europe with a multi-city roadshow in the UK and Germany that brought together more than 370 tour operators and travel agents. In a bid to attract 1.5 million visitors by 2021, increased emphasis has been put on growing further awareness of ...

Berlin / WAM The United Arab Emirates and Germany have reaffirmed their joint commitment to the fight against terrorism and violent extremism, in all its forms, at both regional and international levels. In a joint statement issued on Wednesday on the occasion of the visit of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and ...

Abu Dhabi / WAM The Central Bank of the UAE (CBUAE), in coordination with the Higher Sharia Authority (HSA), hosted a workshop on centred around Islamic finance inviting major financial stakeholders of the UAE. The session was first of many sessions within the newly launched Executive Programme, a platform designed for sharing knowledge and expertise in areas of mutual interest ...

Abu Dhabi / WAM The Khalifa bin Zayed Al Nahyan Foundation signed an agreement with the Electricity and Energy Ministry of the Republic of Yemen to implement a power plant in Aden at a cost of $100 million. The agreement is part of the continuous programme implemented by the UAE to support the electric power sector in Aden. The agreement ...