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The Latest Breaking News from ADQ

Built on sand: can Egypt’s new seaside city protect the country from war at its borders?

Ras el–Hekma is part of a $60bn package to help the economy withstand the impact of conflict in Gaza, but critics fear the money will entrench a corrupt, oppressive regime

The Guardian - UK

Who is Rustem Umerov, Ukraine’s next defence minister?

The multilingual Crimean Tatar boasts a successful career in finance and is known for being a skilled negotiator.

Al Jazeera

Russian female cyclist to withdraw membership of army club that partly funds her

Maria Novolodskaia competed in the Women's WorldTour in 2022 for UAE-Team ADQ

Cycling Weekly

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Gautam Adani weighs raising $5 billion in equity as banks urge deleveraging

MUMBAI: Indian billionaire Gautam Adani is courting sovereign wealth funds to raise roughly $5 billion in equity across his sprawling business empire and reduce leverage, people familiar with the matter said.

The Times of India

Dubai Courier Firm Aramex Buys Florida MyUS for $265 Mln

Dubai-listed courier firm Aramex said on Wednesday it had bought Florida-based e-commerce company Access USA Shipping LLC (MyUS) for about $265 million in an all-cash deal. The transaction, after having obtained all the necessary regulatory approvals, marks Aramex’s largest acquisition to date, it said. Abu Dhabi sovereign wealth fund ADQ…

Asharq Al-Awsat

Abu Dhabi's ADQ Makes Merger Offer to Abu Dhabi Aviation

Abu Dhabi sovereign wealth fund ADQ said on Monday it had made an offer to take a controlling stake in Abu Dhabi Aviation and merge the helicopter operator with ADQ stakes in Etihad Engineering, AMMROC and GAL to create a "globally competitive aviation business" with about 9.4 billion dirhams ($2.56…

Asharq Al-Awsat

Exclusive-UAE to build Red Sea port in Sudan in $6 billion investment package

The United Arab Emirates will build a new Red Sea port in Sudan as part of a $6 billion investment package, DAL group chairman Osama Daoud Abdellatif, a partner in the deal, told Reuters.

Reuters

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Three Gulf, nine African sovereign funds sign deal for investment

The deal is meant to spur investment in green projects and logistics to improve interconnectivity amid economic crisis.

Al Jazeera

ADQ to Acquire Turkish Pharma Firm Birgi Mefar Group

ADQ, an Abu Dhabi-based investment and holding company, announced it has entered into a definitive agreement to acquire Birgi Mefar Group (BMG), one of Turkey’s leading producers of sterile injectable products. As a full-service pharmaceutical CDMO, BMG is a production service provider for sterile injectable products, namely vials and pre-filled…

Asharq Al-Awsat

Saudi PIF Close to Buying Stake in Starbucks Middle East

The Saudi Public Investment Fund (PIF) has been shortlisted to buy a stake in the Middle East, North Africa, and central Asia Starbucks franchise held by Alshaya Group, revealed sources. The Starbucks franchise has several hundred outlets in 14 countries across the Middle East, Russia, and central Asia. Last year,…

Asharq Al-Awsat

UAE, Egypt, Jordan Sign Industrial Partnership in 5 Sectors for Sustainable Economic Growth

The United Arab Emirates, Egypt and Jordan announced on Sunday an integrated Industrial Partnership for Sustainable Economic Growth in Abu Dhabi. The partnership agreement aims to unlock new industrial opportunities and enhance sustainable economic growth in the three countries, across five promising industrial sectors, namely food and agriculture, fertilizers, pharmaceuticals,…

Asharq Al-Awsat

Abu Dhabi-based Borouge Sets IPO Price

Abu Dhabi-headquartered petrochemicals firm Borouge said on Monday it has set the offer price for its initial public offering (IPO), which shows it could raise about $2 billion in the deal, and secured seven cornerstone investors. The Abu Dhabi National Oil Company and Borealis' joint venture set the IPO price…

Asharq Al-Awsat

Abu Dhabi’s ADQ Buys Stakes Worth $1.85b in Egyptian Firms

Abu Dhabi's state holding company ADQ has bought shares worth $1.85 billion in five publicly traded Egyptian companies.

Asharq Al-Awsat

UAE Agtech Right Farm Raises $2.8 Million from Investors

Right Farm, a United Arab Emirates agriculture technology firm, said on Monday it raised $2.8 million from investors including Abu Dhabi state holding company ADQ's venture platform. The company is a business to business digital platform which sources fresh produce from local and international farms for the food and retail…

Asharq Al-Awsat

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Asharq Al-Awsat

ADQ, Turkey Wealth Fund Launch $300m Venture Capital Fund

ADQ, an Abu Dhabi-based investment and holding company, and Turkey Wealth Fund (TWF) launched Wednesday a $300 million-tech fund, which will invest in venture capital funds and high-growth potential companies in Turkey. Turkey Technology Fund – ADQ TWF will invest in companies developing emerging technologies or improving existing technologies in…

Asharq Al-Awsat

ADQ, Saudi Technology Ventures Invest in Mideast Uber-like Service for Trucks

Saudi Arabia-based TruKKer, which offers Uber-like services for trucks in the Middle East and elsewhere, said on Monday it has raised just under $100 million through Series B equity and a debt funding round. The investments were led by Abu Dhabi state holding company ADQ and Riyadh-based Saudi Technology Ventures,…

Asharq Al-Awsat

UAE’s Central Bank Gives Green Light to Launch Digital Bank

The Central Bank of the United Arab Emirates has given the green light to a new digital banking platform known as “Wio” and backed by state holding company ADQ. The bank will soon launch a beta version, initially targeted to small and medium-sized businesses (SMBs). The total invested capital in…

Asharq Al-Awsat

Abu Dhabi’s AD Ports Eyes Trade Routes, Acquisitions

Abu Dhabi's AD Ports Group (ADPORTS.AD) plans to develop extensive trade corridors connecting the United Arab Emirates, with the Middle East, the subcontinent, Africa and elsewhere, executives said on Tuesday, following its share listing. AD Ports Group, controlled by state investor ADQ, made its debut on the Abu Dhabi bourse…

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