Browsing: Funding

Binghatti Properties, a prominent real estate development firm in Dubai, and the luxury automotive company Mercedes-Benz have revealed the introduction of an innovative project known as Mercedes-Benz Places | Binghatti.

Emirates Development Bank (EDB) has pledged up to AED 1.3B ($350M) to support the Energy Transition Accelerator Financing (ETAF) platform, a global climate finance initiative initiated by the International Renewable Energy Agency (IRENA). The goal of this platform is to expedite the funding of renewable energy projects, particularly in developing nations.

The comprehensive platform will explore the trading and utilization of carbon credits, providing a “mechanism to help companies manage unavoidable and residual carbon emissions while pursuing direct decarbonisation strategies,” according to DFM. Each carbon credit represents a tangible reduction in carbon emissions, offsetting one tonne of CO2 equivalent emissions. As per the Taskforce on Scaling Voluntary Carbon Markets (TSVCM), the demand for carbon credits could increase significantly, potentially by a factor of 15 or more by 2030 and up to 100 by 2050. The overall carbon credit market is projected to exceed $50B in value by 2030.

The Dubai Airshow 2023 observed aviation transactions surpassing $101B and has been recognised as the most extensive edition in the history of this prominent industry event. Significant deals and major announcements marked the Dubai Airshow 2023, underscoring its pivotal role as a crucial centre for the aerospace and defence sectors.

GAL AMMROC, a prominent global provider of integrated aircraft readiness solutions and military maintenance, overhaul, and repair (MRO) services, has declared the formalization of a Memorandum of Understanding (MoU) with Archer Aviation Inc., a leading player in electric vertical take-off and landing (eVTOL) aircraft.

The 11th edition of the Blockchain Life Forum, widely recognized as the premier meeting point…

Collaborating with the Ministry of Defense and security agencies, the UAE government entity Tawazun Council…

Abu Dhabi has invested over AED 12M in early-years projects within the past three years, as revealed by the emirate’s Early Childhood Authority (ECA). ECA has financially supported 18 projects, covering diverse subjects such as the influence of fathers in child development, language development in Emirati children, and reasons for school absenteeism. An awareness campaign has been initiated by the authority to promote a flourishing research culture and ecosystem, involving community events across Abu Dhabi, Al Ain, and Al Dhafra.

Abu Dhabi Islamic Bank (ADIB) has successfully raised $500M by issuing Sharia-compliant green bonds, marking the largest Islamic bank by assets in the emirate’s effort to diversify its funding sources, promote sustainability, and address climate change concerns.
ADIB priced the senior sukuk with a five-year tenure at a profit rate of 5.695% per annum, payable semi-annually. The sukuk will be listed and traded on the London Stock Exchange’s International Securities Market and Sustainable Bond Market, according to the statement from the Abu Dhabi-based lender.

The Helicopter Company, a wholly-owned subsidiary of the Saudi Public Investment Fund, has recently concluded an SAR 800M Murabaha facility agreement with Gulf International Bank – Saudi Arabia (GIB-Saudi Arabia).