Latest Threads

On 23rd July 2024, Methaq Takaful Insurance announced a meeting scheduled for Friday, 26th July 2024, at 9:00 AM. The agenda includes discussing and approving the financial statements for the periods ending on 30th June 2023 and 30th September 2023. The notice is signed by Musallam Ahmed Alblooshi, the CEO, and includes the company's stamp.

Borouge, in partnership with ADNOC and Borealis, has signed a Project Collaboration Agreement with Wanhua Chemical to develop a speciality polyolefins complex in China. The proposed facility in Fuzhou, Fujian Province, aims to produce 1.6 million tonnes per annum of speciality polyolefins using Borealis' Borstar® technology and Borouge's sales network. The project will use 100% zero-carbon electricity, highlighting a commitment to sustainability. The consortium plans to form a 50:50 joint venture with Wanrong New Materials (Fujian), pending regulatory approvals. This initiative is expected to strengthen Borouge's market position in Asia and create value for shareholders by leveraging the strengths and resources of its partners.

The document is a formal notification addressed to the Disclosures and Compliance Section of the Securities and Commodities Authority (SCA) and the Market Operations Surveillance Department of the Abu Dhabi Securities Exchange. It informs them that the Board of Directors of Multiply Group PJSC will hold a meeting on July 29, 2024, at 4:00 PM. The agenda for the meeting includes the approval of the audited financial statements for Q2 2024 and other business matters. The notification is signed by Samia Bouazza, the Group CEO and Managing Director.

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.