Browsing: Finance and Technology

Abu Dhabi Investment Office (ADIO) has partnered with Partanna, a Bahamian climate tech firm, to establish its regional headquarters and a manufacturing facility in Abu Dhabi. This collaboration, announced at the inaugural Abu Dhabi Business Week, positions Abu Dhabi as a hub for carbon-negative building materials, advancing global sustainability.

Ministry of Climate Change and Environment (MOCCAE) is preparing to launch a framework for Extended Producer Responsibility (EPR) in the UAE. The initiative aims to address environmental challenges, promote waste reduction, increase recycling, and advance the circular economy for sustainable economic growth. It will encourage industries to adopt innovative manufacturing practices and foster public-private partnerships to develop effective waste management solutions.

UAE has secured fifth place in the 2024 Quality Infrastructure for Sustainable Development (QI4SD) Index, rising six positions since its launch by the United Nations Industrial Development Organisation (UNIDO) in 2022. The index categorises the UAE within the ‘L’ group, alongside countries with GDPs between $100 billion and $1 trillion, including Switzerland, South Africa, Singapore, and Finland.

BEYOND Developments has launched Orise, its second project in Dubai Maritime City, following the sell-out success of Saria. This new residential development blends urban sophistication with coastal charm, featuring 530 residences, including one to three-bedroom apartments, chalets, and duplex penthouses.

ADNOC has strengthened its partnership with Malaysia’s PETRONAS by finalising a second 15-year sales and purchase agreement (SPA) for liquefied natural gas (LNG) from the Ruwais LNG project. The agreement converts an earlier heads of agreement (HoA) into a binding deal, with PETRONAS set to procure one million tonnes per annum (mtpa) of LNG starting in 2028, upon the project’s commercial launch.

Abu Dhabi Investment Office (ADIO) has signed multiple agreements to explore manufacturing opportunities in line with the emirate’s focus on sustainable growth and economic diversification. The agreements were formalised during the Procurement Forum at the first Abu Dhabi Business Week, held from 4-6 December. The forum highlighted the role of the private sector in shaping public sector procurement and driving economic transformation.

Uber Technologies and China’s WeRide announced that their autonomous ride-hailing service is now available to the public in Abu Dhabi, marking Uber’s first driverless taxi operations outside the United States.

AQUA Properties has unveiled The Community Sports Arena, a $129M residential project that will redefine urban living in Dubai Sports City by Q4 2027.

(DIFC) has announced its decarbonisation strategy, pledging to achieve Net Zero by 2045, five years ahead of the UAE’s 2050 target. Revealed at the Future Sustainability Forum 2024, the strategy focuses on cutting emissions across operations, construction, and supply chains.

International Air Transport Association (IATA) has expanded its office in Abu Dhabi, adding a new training centre to support the Middle East’s growing aviation sector and develop future industry professionals.