After setting its price at the top of the range, Dubai Taxi Company reported that it raised Dh1.2 billion (roughly $315 million) in its initial public offering. Following the book building and public subscription process, DTC said in a statement on Wednesday that the final offer price was set at…
View More Dubai Taxi Company valued at $1.26bn in oversubscribed offering
Adnoc has established the first “high-speed” green hydrogen pilot refueling station in the area to test a fleet of hydrogen-powered vehicles. Data from the project will be used to evaluate the long-term viability of hydrogen vehicles in the UAE. The company announced on Friday that the Adnoc Distribution-run facility in…
View More Adnoc opens the first “high-speed” green hydrogen refueling station in the region.
Wafik Ben Mansour is appointed acting CEO by Dubai Investment Bank. Over the course of more than eighteen months, Fawad Khan, the head of the investment bank Shuaa Capital located in Dubai, has resigned. Mr. Khan resigned for “personal reasons,” the company said in a statement to the Dubai Financial…
View More CEO of Shuaa Fawad Khan steps down after 18 months in position
The Dubai Integrating Economic Zones Authority (DIEZ), under the auspices of His Royal Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and the Prime Minister of the United Arab Emirates and the Ruler of Dubai, has announced the opening of a US$136 million venture capital (VC) fund. AETOSWire/Dubai…
View More A US$ 136 million investment fund is launched in Dubai with the goal of funding technological entrepreneurs.
For the forthcoming Dubai Trade Forum, which will be held at Madinat Jumeirah in November, Dubai Chambers has developed The transactions Hub, a fresh impact-driven platform that delivers an innovative environment for multinational corporations and investors to announce collaborations and transactions. The Dubai Business Forum, which is being held under…
View More During the Dubai Business Forum, Dubai Chambers introduces “The Deals Hub” to open up chances for international trade and investment.
According to Economy Minister Abdulla bin Touq, it also intends to finance new projects and generate 20,000 employment over the following five years. In order to increase food security in the nation, the UAE plans to increase the economic contribution of food and agriculture by $10 billion and generate 20,000…
View More UAE will increase the economic contribution of the food and agriculture industry by $10 billion
Yahsat, also known as Al Yah Satellite Communications, announced on Friday that the UAE has given its government services arm a Dh18.7 billion ($5.1 billion) 17-year services mandate to offer satellite capacity and managed services. The agreement includes services currently covered by a different contract for ground segment satellite systems…
View More UAE awards Yahsat a $5.1 billion contract for satellite capacity and services.
All phones offered for sale in the UAE, according to a statement from the telecommunications department, “adhere to the highest international safety and security standards.” According to the news agency Reuters, the declaration followed France’s announcement that it will prohibit the sale of Apple’s iPhone 12 owing to radiation exposure…
View More After France forbade the sale of the iPhone 12, the regulator said all phones sold in the UAE are secure.
A Dubai-based startup is creating powerful computer software models to create 3D-printed space rocket engines. The Computational Engineering Model, a piece of software that generates algorithms for the design and building of spacecraft systems, was created by LEAP 71, which established its headquarters in the UAE this year. Recently, the…
View More A Dubai-based startup uses cutting-edge software to create a 3D-printed rocket engine.
Thursday saw a 25% increase in Arm Holdings stock as the business raised $4.87 billion in its IPO, making it the year’s largest listing. After making their Nasdaq debut, the UK chip designer’s shares shot up as much as 30%. At the closing of trading, they were trading at $63.59,…
View More The largest IPO of the year saw a 25% increase in shares of SoftBank’s Arm.