NMDC Energy PJSC, a provider of engineering, procurement and construction services for offshore and onshore energy clients, and a majority-owned subsidiary of NMDC Group PJSC, today began trading on the Abu Dhabi Securities Exchange (ADX) following an Initial Public Offering (IPO) that was oversubscribed by 31.3 times.
Category: Economy
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Gross banks’ assets exceed AED4.3 trillion by end of June: CBUAE
The Central Bank of the UAE (CBUAE) revealed that total gross banks’ assets, including bankers’ acceptances, rose by 0.5 percent from AED4,287.0 billion at the end of May 2024 to AED4,310.2 billion at the end of June 2024.
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Dubai South awards AED150 million construction contract for ‘South Living’ project
Dubai South Properties has announced the appointment of Al Turath Al Aseel Contracting for an AED150 million contract towards the construction of South Living Tower, a luxury apartment development at The Residential District in Dubai South.
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ADQ establishes Q Mobility to enhance transportation services in Abu Dhabi
ADQ, an Abu Dhabi-based investment and holding company, has established Q Mobility to enhance transportation services through smart mobility solutions, focusing on providing sustainable and integrated solutions that support the Emirate's growth.
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UAE emerges as key player in global development, strengthens role in China’s Belt and Road Initiative
The United Arab Emirates has emerged as a key player in regional and global development, driven by its visionary leadership, strategic location, and favourable business climate.
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UAE-India Business Forum kicks off in Mumbai
The India-UAE Business Forum opened today in Mumbai under the theme “Beyond CEPA: Innovation and Future-Ready Economies”.
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Korea records 19.9% jump in international passengers in Jul-Aug
The Republic of Korea recorded a 19.9 percent year-on-year (YoY) increase in the number of international flight passengers during the summer vacation season, fully recovering to the pre-pandemic level, data showed Sunday.
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Shanghai launches ¥10-billion fund to foster future industries
The Chinese financial hub of Shanghai on Saturday announced the establishment of a CN¥10 billion (about US$1.41 billion) fund to nurture future industries.
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EDB launches AI Wave programme to boost operations
Emirates Development Bank (EDB), the key financial engine of economic development and industrial advancement in the UAE, has launched its internal AI Wave programme, a strategic initiative aimed at enhancing AI literacy and adoption across the organisation.
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UAE Tourism: Boosting investments to drive GDP growth
The UAE's tourism sector continues to record remarkable performance in international tourist arrivals and hotel bookings, aligning with the UAE Tourism Strategy 2031, which aims to attract AED100 billion in tourism investments and boost the sector's contribution to the GDP to AED450 billion by 2031.