Business & Money | Sunday 29 June, 2025 12:48 pm

Masar signs land sale agreement for SAR 255.8M

Umm Al Qura for Development and Construction Co. (Masar) signed on June 26 a land sale agreement with Home Investment Fund (a real estate investment fund managed by Jadwa Investment), for a total value of SAR 255.76 million, excluding taxes and fees to be borne by the buyer. The company...

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Business & Money | Thursday 26 June, 2025 2:28 pm

DIFC announces consultation of new Variable Capital Company regulations

Dubai International Financial Centre (DIFC) proposes to enact new Variable Capital Company (VCC) Regulations. The proposed regulations seek to significantly enhance investment structuring and asset management options for proprietary investment in the DIFC. Jacques Visser, Chief Legal Officer...

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Business & Money | Thursday 26 June, 2025 2:24 pm

Witthal Gulf Industries to set up AED 40 mn plant in KEZAD

Khalifa Economic Zones Abu Dhabi (KEZAD Group) and Witthal Gulf Industries have announced the signing of a 50-year land lease agreement for the establishment of a state-of-the-art plant in Taweelah, KEZAD. Witthal Gulf Industries will invest AED 40 million for the project that will establish...

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Business & Money | Thursday 26 June, 2025 2:22 pm

Instant access to Etihad Credit Bureau credit report, score via DubaiNow

Etihad Credit Bureau, the federal entity that provides comprehensive credit information and analytics to support informed financial decisions, announced its collaboration with DubaiNow, the pioneering Dubai Government application offering access to more than 300 integrated government and private...

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Business & Money | Thursday 26 June, 2025 2:17 pm

KEZAD, StockSpace, Axione Development to establish AED50m warehouse

Khalifa Economic Zones Abu Dhabi – KEZAD Group has announced the signing of a 50-year land lease agreement with Grade A warehouse operator StockSpace and project master developer Axione Development to establish a state-of-the-art Grade A warehouse facility in KEZAD Area A (KEZAD Al...

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Business & Money | Thursday 26 June, 2025 2:08 pm

Etihad Credit Insurance announces AED 174 million funding for SME growth in partnership with four leading banks

Etihad Credit Insurance (ECI), the UAE’s federal export credit company, announced the impact of its ‘Xport Xponential’ programme, which has helped raise AED 174 million in funding to support the growth of SMEs, during the closing ceremony of the programme. The working capital was raised with...

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Business & Money | Thursday 26 June, 2025 2:01 pm

UAE among elite global economies with strong & stable sovereign ratings from top three international credit rating agencies

The United Arab Emirates (UAE) Ministry of Finance announced that the world’s top three credit rating agencies – Fitch Ratings (Fitch), S&P Global (S&P), and Moody’s Investors Service (Moody’s) – have assigned sovereign credit rating for the United Arab Emirates. This step...

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Business & Money | Thursday 26 June, 2025 1:59 pm

UAE, China explore opportunities to strengthen cooperation in energy, renewables, industry, infrastructure

Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, Managing Director and Group CEO of ADNOC, and Chairman of Masdar, conducted a working visit to the People’s Republic of China, where he met with senior Chinese government officials as well as top executives from leading...

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Business & Money | Thursday 26 June, 2025 1:53 pm

ADFD, GCCIA sign AED752 million agreement to expand GCC power grid connectivity with UAE

Abu Dhabi Fund for Development (ADFD) has signed a financing agreement with the Gulf Cooperation Council Interconnection Authority (GCCIA) to support the expansion of the GCC power grid interconnection with the UAE’s national grid. Valued at AED752 million (US$205 million), the agreement...

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Business & Money | Thursday 26 June, 2025 1:51 pm

Masar OKs Dinar Financial’s acquisition of SAR 235M land plots

Shareholders of Umm Al Qura for Development and Construction Co. (Masar) approved the transactions and contracts concluded in 2024 with Dinar Financial Co., its subsidiaries, or affiliated investment funds, during the extraordinary general meeting (EGM) held on June 25. In a statement to...

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