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Abu Dhabi Commercial Bank (ADCB) is expanding its operations in Central Asia by establishing a corporate banking hub in Kazakhstan. This initiative aims to support the region's economic growth through Shari’ah-compliant corporate banking services. ADCB's subsidiary in Kazakhstan, currently known as Al Hilal Islamic Bank JSC, will be rebranded under ADCB’s Islamic Banking arm. The bank will gradually phase out its retail banking activities in Kazakhstan, assisting customers in transitioning to alternative banking options in collaboration with regulators. ADCB's CEO, Ala’a Eraiqat, highlighted the strategic importance of this expansion, emphasizing the bank's commitment to growth and its ability to facilitate trade and investment flows. The new hub will offer a variety of corporate banking services, including financing and cash management solutions. ADCB, a leading bank in the UAE, also has operations in Egypt and is planning to establish a presence in Saudi Arabia.

Borouge, in a consortium with ADNOC and Borealis, has signed a Project Collaboration Agreement with Wanhua Chemical and its subsidiary Wanrong New Materials (Fujian) for a proposed greenfield project in China. The project aims to produce 1.6 million tonnes per annum of speciality polyolefins, leveraging Borealis' Borstar® technology and Borouge’s sales network. The consortium plans to use 100% zero-carbon electricity for the complex, highlighting their commitment to sustainability. The proposed complex in Fuzhou, Fujian Province, will be a 50:50 joint venture between the consortium and Wanrong New Materials, subject to regulatory approvals. The agreement was signed in Beijing, witnessed by key officials including UAE Minister of Industry and Advanced Technology, Dr. Sultan Ahmed Al Jaber. Borouge CEO Hazeem Sultan Al Suwaidi emphasized the project's potential to strengthen economic ties between the UAE and China and create value for shareholders by expanding in China.

RAK Properties, the largest publicly listed property developer in Ras Al Khaimah, UAE, has announced significant progress in its real estate projects in Mina Al Arab. The Bay Residences, comprising 661 apartments across four buildings, are sold out and construction is 75% complete, with handover on schedule. Bay Views, a 344-unit residential complex on Hayat Island, has completed enabling work and is 70% through its sub-structure. Recognized for its design, Bay Views offers views of the Arabian Gulf and Hajar Mountains. Cape Hayat, a luxury residential development with direct beach access, aligns with sustainability initiatives and is 65% through its sub-structure.

The Board Meeting Disclosure Form for Aldar Properties PJSC is scheduled for Monday, 29th July 2024, starting at 09:00 am. The meeting agenda includes discussing the company's financial performance for Q2 2024 and considering general business, operational, and strategic items. The authorized signatory for this disclosure is Mohammad H. Abedalrahman, who holds the position of Company Secretary.

The Market Operations Surveillance Department of the Abu Dhabi Securities Exchange has disclosed that Fujairah Cement Industries (PJSC) will hold a board meeting on Monday, July 29, 2024, at 11:00 AM. The agenda includes the approval of the minutes from the last meeting, reviewing the General Manager's report and the company's performance up to June 30, 2024, approval of the financial statements for the same period, a general discussion about the company's current situation with their financial advisor Ernst & Young, and other matters. The General Manager, Saeed Ahmed Ghareib Alseridi, has been informed, along with the SCA.

ADNOC Logistics and Services (ADNOC L&S) and its joint venture with Wanhua Chemical Group, AW Shipping, have awarded shipbuilding contracts worth $1.9 billion to Jiangnan Shipyard in China. The contracts include the construction of nine Very Large Ethane Carriers (VLECs) for approximately $1.4 billion and two Very Large Ammonia Carriers (VLACs) for about $250 million, with an option for two additional VLACs. The new vessels, which will be among the world's largest ethane and ammonia carriers, will feature energy-efficient dual fuel engines. The VLECs will be deployed on 20-year charter contracts, generating around $4 billion in revenue. The contracts were signed in a ceremony in Beijing, attended by notable officials including UAE Minister Dr. Sultan Ahmed Al Jaber.