Latest Threads

Ooredoo Group has announced a collaboration with NVIDIA to leverage generative AI, accelerated computing, and hyperconnectivity in the MENA region. As part of this initiative, Ooredoo plans to deploy thousands of NVIDIA Tensor Core GPUs in its AI data centers, aiming to drive economic growth, job creation, and technological innovation in countries including Qatar, Algeria, Tunisia, Oman, Kuwait, and the Maldives. By becoming an NVIDIA Cloud Partner, Ooredoo intends to support governments, enterprises, and startups in securely processing data and generating valuable insights. Aziz Aluthman Fakhroo, Group CEO of Ooredoo, highlighted the company's goal to meet the growing demand for advanced AI models and infrastructure in the region.

Dubai Electricity and Water Authority (DEWA) has commissioned a new water reservoir in Enkhali, which has been connected to Dubai’s water network. The reservoir, with a storage capacity of 120 million imperial gallons (MIG), cost AED 287.8 million. This project is part of DEWA’s initiative to enhance the infrastructure for electricity and water, aiming to increase Dubai's water storage capacity. The UAE Water Security Strategy 2036 supports sustainable water access and addresses future challenges. DEWA's strategy includes other reservoirs in Lusaily, Hassyan, and Hatta, which will increase the total storage capacity to 1121.3 MIG of desalinated water upon completion. Additionally, the Aquifer Storage and Recovery (ASR) project will store up to 6,000 MIG by 2025, making it the largest of its kind globally. The Enkhali reservoir adheres to the highest international standards.

The Dubai Financial Market (DFM) has announced the expiry settlement prices for its equity futures contracts expiring in June 2024. The settlement prices for various contracts are listed along with their respective series codes, prices in AED, and contract IDs (ISIN). The announcement is available on the DFM website. Note that the information is subject to change and the DFM Regulated Derivative Contract Trading Regulation will take precedence in case of any discrepancies.

HAYAH Insurance Company P.J.S.C., located in Abu Dhabi, UAE, is a Public Joint Stock Company with a paid-up capital of AED 200 million, registered at the Central Bank of the UAE since 16/09/2008. On 21st June 2024, the company announced the appointment of Mr. Samer Abdul Rahman Katerji as an Independent Non-Executive Director. The decision was made during the Board of Directors' meeting on 14th June 2024. Mr. Samer, who will serve from 21st June 2024 to 30th April 2027, is a Senior Investment Banker with over 27 years of experience. He leads Trussbridge Advisory (DIFC) Limited and has extensive expertise in mergers and acquisitions, capital structure optimization, and strategic financial advisory, with a transaction history exceeding US$30 billion. He has previously led Citigroup’s Financial Institution and Financial Sponsors Advisory Practice and was a founding member of SHUAA Capital PSC's investment banking team.

Resolution No. (430) of 2024 announces the temporary suspension of trading in the shares of The National Investor PRJSC (TNI) on the Abu Dhabi Securities Exchange (ADX) due to the Annual General Meeting (AGM) scheduled for 11:00 on 12-Jul-2024. Trading will be suspended from 11:00 on that date until ADX receives the AGM results. The resolution mandates all department heads at ADX to implement the suspension and requires the resolution to be circulated to the Securities and Commodities Authority (SCA), the concerned company, all ADX departments, and accredited brokers. The resolution has been approved by the authorized person and was issued on 20-Jun-2024.